India is attractive because of its skilled youth, large domestic market: FM Nirmala Sitharaman

Public Sector Banks recover more than 1.3 Lakh crore rupees from loans written off during last 5 financial years, informs Nirmala Sitharaman in Lok Sabha

Public Sector Banks (PSBs) in the country have recovered an aggregate amount of more than 1.3 Lakh crore rupees from the written-off loans during the last five financial years. Replying in the Lok Sabha during the Question Hour, Finance Minister Nirmala Sitharaman said that the borrowers of written-off loans continue to be liable for repayment and the process of recovery of dues from the borrower in written-off loan accounts continues. Banks continue to pursue recovery actions in written-off acc...

Finance Minister Nirmala Sitharaman holds pre-Budget consultation with stakeholders of labour organizations

Union Finance Minister Nirmala Sitharaman today held pre-Budget consultation with the stakeholders of labour organizations. She is also scheduled to have a meeting with the economist group this evening.   Earlier, the Minister had meetings with representatives from the social sector, captains from industry and experts in infrastructure and climate change, and experts in the agriculture and agro-processing industry. She also held pre-budget consultations with the  State and Union Territory Financ...

Inflation will have only a negligible impact on poverty in India: FM Nirmala Sitharaman quotes UNDP report

Finance Minister Nirmala Sitharaman has said a recent UNDP report shows that inflation will have only a negligible impact on poverty in India. She added that targeted transfers help poorer households cope with price spikes. The Finance Minister said this while quoting the UNDP study on Twitter. She observed that the report - "Addressing the Cost-of-Living Crisis in Developing Countries" - shows inflation in India will not push anybody below the lower poverty line of 1.9 dollars...

Finance Minister Nirmala Sitharaman expresses concerns about possible cartelization in markets

Finance Minister Nirmala Sitharaman expressed concerns about possible cartelization in markets and stressed the need to look into the causes of short supply of commodities. Speaking at the 13th annual day function of the Competition Commission of India (CCI), the minister also said that the regulator needs to have a proactive understanding of mergers and acquisitions. While mentioning rising commodity prices due to various factors, she said there is a need to look into the causes of the short-su...

FM Nirmala Sitharaman says India's economic growth in current year is estimated to be 8.9 percent

Finance Minister Nirmala Sitharaman said that India's economic growth in the current year is estimated to be 8.9 per cent, highest among all large economies. She said, it reflects country's resilience and strong recovery. Nirmala Sitharaman attended the Development Committee Meeting of the World Bank in Washington DC. During the meeting, the Finance Minister said, India voluntarily offered COVID Vaccine Intelligence Network platform CoWIN to all countries and is willing to prov...

Finance Minister Nirmala Sitharaman interacts with CEOs of Accenture, Deloitte, FedEx and Mastercard in Washington DC