Nirmala Sitharaman

Nirmala Sitharaman

Finance Minister, Government of India
Birth DetailsAugust 18, 1959 | Madurai, Tamil Nadu
NationalityIndian
LeaguePolitician
EducationBA Economics, Seethalakshmi Ramaswamy College, Tiruchirapalli, Tamil Nadu; M.A. (Economics), M.Phil, Jawaharlal Nehru University, New Delhi
Nirmala Sitharaman's journey so far ...
  • Daughter of a railway employee, Nirmala Sitharaman did her graduation and master’s in economics from Seethalakshmi Ramaswamy College, Tiruchirapalli, Tamil Nadu
  • She did her M.Phil in economics from the Jawaharlal Nehru University and then went to London. She worked for some time as a saleswoman in a décor shop and then joined the research unit of PricewaterhouseCoopers. At the accounting firm, she worked on transferring Western audit systems to post-Cold War Eastern Europe
  • She returned to Hyderabad to start a policy research institute, the Centre for Public Policy Studies, where she was the Deputy Director from 1992-1998. She then started a school for the underprivileged, called Pranava, where she was the director from 1998-2003
  • She was nominated to the National Commission for Women in 2003 by the then Prime Minister Atal Bihari Vajpayee, but her term came to an abrupt end when the UPA government came to power. Sitharaman gravitated towards the BJP and eventually joined the party in 2006
  • She was nominated as party spokesperson in 2010. In a few short years, Sitharaman had catapulted from an articulate defender of the BJP on evening talk shows to a cabinet minister
  • She was not an MP in 2014 when she was brought into the council of ministers by Prime Minister Narendra Modi, she was made the minister of state with independent charge of commerce and industry; later, she was elected to the Rajya Sabha from Andhra Pradesh
  • Sitharaman had a swift rise in the NDA government. In September 2017, she went on to become India’s first full-time woman defence minister and a member of the hallowed Cabinet Committee on Security
  • As the Raksha Mantri, she handled the tough task of countering Congress’ charge of crony capitalism in the Rs 59,000-crore Rafale deal, inked during Manohar Parrikar’s tenure. She vigorously defended the government’s stand on the defence deal
  • A no-nonsense minister, Sitharaman had the key responsibility of delivering on the Make in India promises in the defence sector
  • She delivered on key HR issues for the ministry, and also handled sensitive issues like school fees for children of servicemen, withdrawal of cases against pensioners and opening of cantonment roads to the public
  • After the BJP's victory in the 2019 Lok Sabha polls, she became the first full-time woman Finance Minister of India as Arun Jaitley had opted to stay out of the government due to health issues. She presented her maiden Union Budget on July 5, 2019
  • In September 2019, she played a key role in mega merger of public sector banks, bringing down their number to 12 from 27 in 2017, a move aimed at making state-owned lenders global-sized banks
  • Sitharaman was given the charge of heading the Covid-19 economic response task force by PM Modi in 2020. She announced a series of relief packages for the economy that was reeling under the impact of Covid
  • She took a firm stand on tax evaders and asked taxmen to firmly deal with those who tried to evade taxes and game the system
  • The last few years have seen a meteoric rise of this former JNU student. She is currently a member of the Cabinet Committee on Political Affairs, Cabinet Committee on Economic Affairs, Cabinet Committee on Security and Cabinet Committee on Parliamentary Affairs

Before you go ...
  • Sitharaman was ranked 41st among the world's 100 most powerful women in 2020 in a list released by the Forbes magazine
Last Updated: 27/09/2021

Nirmala Sitharaman News

  • The meeting, coming just over a month after the BJP stormed to power in West Bengal for the first time, also dwelt on improving the credit availability across various sectors in the state and bolstering the implementation of central government schemes there, the finance ministry said in a statement.
  • SBI presented a dividend cheque of Rs 8,813 crore for the financial year 2025-26 to Union Finance Minister Nirmala Sitharaman. This payout follows SBI's strong financial performance for FY26. The bank reported a net profit of Rs 80,032 crore and an operating profit of Rs 1,23,015 crore. SBI's overall business crossed Rs 109 trillion during the year.
  • The State Bank of India (SBI) presented a dividend cheque of Rs 8,813 crore to the government for the financial year ending March 31, 2026. This follows SBI's reported 6% year-on-year rise in net profit for the January-March quarter of FY26, reaching Rs 19,684 crore.
  • Finance Minister Nirmala Sitharaman announced over 58 crore Jan Dhan accounts have integrated millions into formal banking. The Pradhan Mantri Jan Dhan Yojana ensures welfare benefits, insurance, and pensions reach citizens directly. This initiative has empowered Indians, with 56% of account holders being women. India leads globally in poverty reduction. Ninety-four percent of adults now possess bank accounts.
  • India's economic outlook continues to evolve, with Finance Minister Nirmala Sitharaman highlighting the government's unwavering resolve to enhance economic policies. This declaration aligns with the Reserve Bank of India's recent downward adjustment of the FY27 GDP forecast. In a bid to woo foreign investors, the government has unveiled new tax relief on government securities.
  • India's government is reviewing potential budget spending cuts. Higher oil prices are increasing subsidy costs and threatening fiscal goals. Officials are looking at trimming allocations in areas like water resources and loans to states. Capital expenditure and defense spending are unlikely to be reduced.
  • India's decade-old Insolvency and Bankruptcy Code has revolutionized corporate finance, ending a 'defaulter's paradise' and recovering trillions. While significantly boosting financial stability and economic growth, the law now faces challenges from judicial delays. Recent amendments aim to address these bottlenecks, ensuring the code's continued effectiveness in safeguarding India's economic progress.
  • The Congress party has responded to Finance Minister Nirmala Sitharaman's focus on fuel, fertiliser, and forex. Party leader Jairam Ramesh highlighted a critical omission: the declining rates of private investment. He stated that businesses are hesitant to invest domestically due to economic concerns and a perceived negative atmosphere. This contrasts with the Finance Minister's view of a resilient Indian economy.
  • India's economy shows resilience and strong domestic demand. Finance Minister Nirmala Sitharaman highlighted that external factors are causing challenges. The government is taking calibrated policy actions to support businesses and maintain growth momentum. High-frequency indicators like GST collections and sales of vehicles and tractors show positive trends. The finance minister assured that suggestions for further measures will be considered.
  • India's Finance Minister Nirmala Sitharaman explains recent fuel price increases are market-driven by oil companies. She noted the government previously absorbed over Rs 1 lakh crore in revenue through excise duty cuts to protect consumers from inflation. The minister also discussed managing global challenges and the evolving landscape for textile exporters, emphasizing sustainability and technology adoption.
  • Finance Minister Nirmala Sitharaman has indicated the government is ready to listen to stock market investors. Concerns regarding Long-Term Capital Gains and Short-Term Capital Gains taxes are being considered. The Minister emphasized openness to feedback on taxation matters. This comes amid market volatility and discussions on investor sentiment. The government is engaging with stakeholders on market-related tax issues.
  • Finance Minister Nirmala Sitharaman has called on banks to move beyond standard loan products. She emphasized the need for repayment structures that align with the specific income cycles of different businesses. This initiative aims to provide tailored credit solutions for MSMEs, supporting their growth and contributing to a stronger middle class and a developed India.
  • These include portals for credit delivery to rural areas and machinery access for MSMEs, alongside a program to modernize rural enterprises and credit cards for micro-enterprises.
  • Fuel prices have risen again. Union Finance Minister Nirmala Sitharaman highlighted the West Asia crisis impact. She stated this crisis means higher fuel costs for citizens. The government is foregoing Rs 1 lakh crore in revenue. This is due to excise duty cuts on petrol and diesel. The government aims to protect citizens and businesses.
  • In light of increasing global unrest from the West Asia crisis and fluctuations in the energy sector, Finance Minister Nirmala Sitharaman is advocating for a concentrated approach to managing fuel, fertiliser, and foreign exchange resources. Prime Minister Modi's recent appeals to conserve foreign currency and reduce discretionary imports underscore this strategy.
  • Union Education Minister Dharmendra Pradhan has initiated a significant overhaul of the CBSE payment gateway system. This move follows widespread complaints from students and parents regarding failed transactions and fee issues. Four public sector banks will now collaborate with the CBSE to strengthen its payment infrastructure.
  • Assam Chief Minister Himanta Biswa Sarma met Union Finance Minister Nirmala Sitharaman in New Delhi and discussed a roadmap for Assam's future growth and development. The Chief Minister thanked the Union government for its support. Discussions covered economic growth, infrastructure and investment potential.
  • Union Finance Minister Nirmala Sitharaman reviewed GIFT City in Gandhinagar. She noted its significant progress and strategic role in India's financial growth. GIFT City offers a unique blend of scale, technology, and talent. It is becoming a key hub for global finance, attracting significant investments and entities. Continued coordination will further strengthen its position.
  • PFC and REC shares are under scrutiny as a mega merger progresses. Analysts advise a staggered approach to buying, highlighting that the trade now involves swap ratios and execution clarity beyond core business fundamentals. PFC is seen as the safer bet due to its parent status, while REC presents a merger-arbitrage opportunity with higher risk.
  • Power Finance Corporation's board has taken a significant step towards merging with Rural Electrification Corporation. The board has approved seeking formal approval from the President of India for this proposed mega merger. This move consolidates two major PSU non-banking financial corporations. The merger is subject to further regulatory clearances and approvals.
  • Jansuraksha schemes have settled claims worth over Rs 25,160 crore. Pradhan Mantri Jeevan Jyoti Bima Yojana settled more than Rs 21,500 crore. Pradhan Mantri Suraksha Bima Yojana settled nearly Rs 3,660 crore. These schemes provide affordable financial protection. Over 27 crore, 58 crore, and 9 crore enrollments are recorded under PMJJBY, PMSBY, and APY respectively.
  • Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Friday stated that the 16th India-EU Summit held in New Delhi this January provided a decisive new momentum to the bilateral strategic partnership, elevating it to a higher level.
  • Indian banks are boosting IT investments to protect customer data and financial systems. Advanced AI tools like Claude Mythos pose new cybersecurity risks. Banks are enhancing defenses to counter potential cyberattacks. A government panel is assessing these AI-driven threats. This proactive approach aims to secure the financial sector against evolving digital dangers.
  • The public sector bank's chief executive, Ashwani Kumar, told ET that its loan portfolio performance behaviour is healthy on a year-on-year basis. The bank's special mention accounts in the MSME portfolio having exposure of ₹1 crore and above reduced to 1.05% of the MSME loan book in March, at ₹487 crore, as against ₹582 crore in December 2025, he said.
  • A significant grant supports lab-grown diamond research at IIT Madras. The Finance Minister inaugurated a new jewellery institute in Udupi. This institute aims to upskill youth and women. It will boost manufacturing and create jobs in the gems and jewellery sector. An MoU was signed for specialized diamond technology training. The initiative aligns with Make in India and Skill India.
  • Union Finance Minister Nirmala Sitharaman inaugurated the Indian Institute of Gems and Jewellery in Udupi. The centre provides professional training and promotes entrepreneurship among youth. It has grown steadily since 2016, offering industry-relevant skills. The minister also witnessed an MoU signing for lab-grown diamond technologies.
  • CERT-In has issued a high-severity warning about AI-driven cyber threats, noting that new tools make attacks faster, cheaper, and easier. Advanced AI can independently find vulnerabilities and execute complex attacks with minimal human intervention.
  • India's top business leaders gathered for the ET Awards in Mumbai. The event celebrated achievements and fostered conversation. Dignitaries like Nirmala Sitharaman and N Chandrababu Naidu attended. The evening highlighted India's economic vitality and the importance of peace for business success. Attendees enjoyed diverse culinary offerings and networking opportunities.
  • Finance Minister Nirmala Sitharaman is preparing new reforms to ease business compliance. She believes strong domestic consumption will help India overcome global challenges. The government is also addressing cybersecurity threats from advanced AI models. Sitharaman assures that reforms will continue to support industry growth and manufacturing.
  • India's finance minister has urged industry leaders to engage in open dialogue. Discussions at the Economic Times Awards focused on navigating global uncertainties. Experts proposed measures from wooing the diaspora to harnessing artificial intelligence. The nation is seen as well-positioned to manage disruptions, with a focus on domestic demand and future preparedness.
  • India must go beyond macro tweaks to boost FDI, addressing governance, infrastructure, and global shifts. Despite steady inflows, profit outflows and structural gaps highlight need for deeper reforms.
  • Union Finance Minister Nirmala Sitharaman has warned of a new cyber threat from Anthropic's AI model Mythos, comparing its potential impact to that of war. Authorities are increasing engagement with Anthropic and the US administration to understand and counter these evolving digital risks, while also strengthening domestic capabilities and financial sector preparedness.
  • India is poised to become a global AI execution hub. Powerful AI models like Anthropic's Mythos present both opportunities and security risks for the banking sector. India's vast trained workforce and cost-effective infrastructure offer a significant advantage. The nation can harness these strengths to drive AI adoption and achieve tangible returns on investment.
  • Finance Minister Nirmala Sitharaman pledged government support for farmers facing rising input costs. She urged Indian industry to expand and add capacity, promising a patient hearing for their needs. The minister also discussed capital outflows and India's readiness for reforms. Engagement with the US and Anthropic is ongoing regarding AI model risks.
  • Finance Minister Nirmala Sitharaman has called for heightened cybersecurity vigilance across the financial sector. She highlighted that advanced AI tools are accelerating cyberattacks, making them harder to detect. Sitharaman stressed the need for defense mechanisms to evolve faster than attack methods. The minister also emphasised common KYC norms and a principles-based regulatory approach for market growth and investor protection.
  • Mumbai's Jio World Convention Centre hosts the 26th Economic Times Awards for Corporate Excellence, celebrating India's economic leaders. Finance Minister Nirmala Sitharaman, a champion of reform, will be the chief guest. Andhra Pradesh CM N Chandrababu Naidu, recognized as Business Reformer of the Year, will also attend.
  • Finance Minister Nirmala Sitharaman has directed the Indian Banks' Association to help banks combat emerging cybersecurity threats from Anthropic's Claude Mythos AI. SBI Chairman Challa Srinivasulu Setty will lead these efforts. Banks will explore investments and technologies, including AI, to counter this new AI-borne challenge. The Ministry of Electronics and Information Technology is actively engaging with global partners on preparedness.
  • Union Finance Minister Nirmala Sitharaman highlighted that domestic consumption is driving India's economic growth, emphasizing the need for predictable policy support to maintain this momentum. She also indicated that a committee is reviewing open architecture for banks selling third-party products and urged a focus on customer connect amidst digitalization.
  • Indian banks face new artificial intelligence cyber threats. Finance Minister Nirmala Sitharaman urged a proactive approach. Banks will collaborate to identify vulnerabilities and adopt new technologies. AI itself may be used to combat AI-driven attacks. This initiative aims to strengthen cybersecurity defenses.
  • Finance Minister Nirmala Sitharaman slammed Congress President Mallikarjun Kharge's 'terrorist' remark against PM Modi as "atrocious" and a new low for the party. Kharge later clarified he meant Modi 'terrorizes' opponents using central agencies, not that he is a terrorist. Union Minister Piyush Goyal also condemned Kharge's comments, accusing the Gandhi family of throttling democracy.
  • India and South Korea are strengthening economic ties. Union ministers met with South Korean leaders and business executives. Discussions focused on financial sectors, startups, and trade expansion. Both nations aim to increase bilateral trade to 50 billion dollars by 2030. This collaboration will drive investment and innovation between the two countries.
  • West Bengal Chief Minister Mamata Banerjee accused Union Finance Minister Nirmala Sitharaman of violating the Model Code of Conduct by distributing cards to women before elections. Banerjee alleged that the BJP is misusing power and agencies to threaten voters and collect data, warning that women will be robbed of their bank account information and money.
  • India is drawing on its Covid-era playbook to cushion the economic blow from the Iran war, with officials warning the disruption to energy supplies could rival the pandemic, threatening growth, widening the fiscal deficit, and pushing the rupee to record lows.
  • Union Finance Minister Nirmala Sitharaman has responded to Tamil Nadu Chief Minister M K Stalin. She accused him of creating false narratives regarding a Centre's advisory on bonuses for wheat and paddy farmers. Sitharaman stated that Stalin misinterpreted the advisory. She highlighted that other states understood the letter's intent.
  • The debate between the Tamil Nadu Chief Minister MK Stalin and Union Finance Minister Nirmala Sitharaman continues as Stalin asked the Finance Minister whether she can put the letter, noting remarks of the discontinuation of paddy bonus, in the public domain.
  • India's top business leaders and economic minds will gather for the 26th Economic Times Awards for Corporate Excellence. Finance Minister Nirmala Sitharaman will be the chief guest. The event will celebrate champions who excelled despite global challenges. N Chandrababu Naidu, Chief Minister of Andhra Pradesh, will also be honored as Business Reformer of the Year.
  • Union Finance Minister Nirmala Sitharaman has dismissed Tamil Nadu Chief Minister MK Stalin's allegations regarding incentives for paddy cultivation. Sitharaman stated that the Union government's communication was a suggestion to states to align bonus policies with national priorities. The aim was to encourage crop diversification. The decision on state bonuses remains with state governments.
  • The Pradhan Mantri Mudra Yojana has empowered millions of entrepreneurs. Over 577.9 million loans totaling ₹40.07 lakh crore have been disbursed since its 2015 launch. A significant portion of these loans went to women entrepreneurs, fostering self-reliance. The scheme has democratized access to credit, removing barriers for many individuals previously excluded from formal banking systems.
  • India's finance minister highlights the nation's strong economic footing. Prudent fiscal management over a decade has built resilience. This allows for continued capital spending and support for sectors facing global challenges. India's debt-to-GDP ratio remains low compared to major economies. This strategic fiscal discipline provides a significant advantage in navigating a volatile world.
  • Union Finance Minister Nirmala Sitharaman raised concerns about Kerala's economy and safety during a campaign event. She highlighted the Sabarimala gold loss, stating even God is not safe in the state. Sitharaman criticized the ruling LDF and opposition UDF for mismanaging the economy. She mentioned industries are declining and entrepreneurs face difficulties.
  • The AIBEA said there is a need for HDFC Bank's 120 million customers, shareholders and also the general public to feel reassured, and hence sought Sitharaman's intervention in the matter.
  • Finance Minister Nirmala Sitharaman announced amendments to insolvency regulations, allowing land authorities to join creditor meetings. This aims to speed up resolution for hundreds of real estate projects, benefiting thousands of homebuyers. The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, also introduces stricter timelines for case admission and plan approval, emphasizing resolution over mere recovery.
  • Parliament has approved changes to the Insolvency and Bankruptcy Code. These amendments aim to speed up resolutions and improve the financial system. The Rajya Sabha passed the bill after the Lok Sabha's approval. Finance Minister Nirmala Sitharaman highlighted the IBC's success in asset recovery. The changes include provisions to reduce the time for admitting insolvency applications.
  • The Finance Act 2026 has been notified, bringing changes to tax rules for the upcoming fiscal year. Parliament approved the Finance Bill 2026, completing the budgetary process. The Union Budget 2026-27 outlines significant expenditure and revenue targets. A new 12 percent surcharge on capital gains from company share buybacks will apply to individuals and corporations starting April 1.
  • India's insolvency law has significantly boosted the banking sector. The Insolvency and Bankruptcy Code has helped rescue struggling companies and recover bad loans. A new amendment bill passed in the Lok Sabha introduces fresh resolution frameworks. This aims to speed up the rescue of stressed firms and improve loan recovery processes across the country.
  • New rules for company executive pay are here. Finance Minister Nirmala Sitharaman has updated the Companies Act. These changes introduce new ways for companies to reward employees. Instruments like restricted stock units and stock appreciation rights are now recognised. These offer alternatives to traditional employee stock options. Companies can now use these to attract and retain talent.
  • In the Lok Sabha, Nirmala Sitharaman said the Fugitive Economic Offenders Act (FEOA), 2018 was enacted to deter economic offenders from evading Indian law by staying abroad and was applicable to offences involving Rs 100 crore or more.
  • Finance Minister Nirmala Sitharaman stated India's economic fundamentals are strong. The Indian rupee is performing well against the US dollar compared to other emerging markets. Despite a recent depreciation linked to the West Asia conflict, the government and RBI are closely monitoring the rupee's value.
  • Banks are unable to inspect the contents of customer lockers. Finance Minister Nirmala Sitharaman stated this prevents differential insurance coverage based on valuables. The standard coverage for locker holders is fixed at 100 times the annual locker rent in case of any loss. This policy remains in effect for all locker holders.
  • The Lok Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill, replacing the underutilized fast-track process with a new creditor-initiated insolvency framework. Finance Minister Nirmala Sitharaman highlighted that the IBC has facilitated the resolution of 1,376 companies, recovering Rs 4.11 lakh crore. The amendments aim to expedite insolvency applications and introduce provisions for group and cross-border insolvency.
  • ET looks at how the proposed amendments to the decade-old law, blamed by critics for causing inordinate delay in the rescue or liquidation of bankrupt firms, is going to shape the country’s insolvency ecosystem.
  • Defence Minister Rajnath Singh led a key meeting of ministers to address the West Asia situation. The group discussed impacts on India and planned proactive steps. Ministers emphasized vigilance and coordinated action. Presentations highlighted sectoral issues and policy measures. The government is committed to protecting citizens from conflict effects. Information sharing and public advisories are prioritized.
  • India's Finance Minister Nirmala Sitharaman is boosting efforts to raise funds and control the fiscal deficit. The government is protecting citizens from rising crude oil prices. Lockdowns are not planned. She urged leaders to avoid spreading rumors. Excise duty on petrol and diesel has been cut to manage domestic inflation and volatility.
  • India will not impose a lockdown amid the West Asia war. Finance Minister Nirmala Sitharaman assured the public. The government will manage fiscal deficit and shield citizens from rising global crude oil prices. Fuel prices remain unchanged. The Finance Bill 2026 has been returned to the Lok Sabha, completing the budgetary exercise for the next fiscal year.
  • Parliament has approved the Finance Bill 2026. This marks the completion of the budgetary exercise for the upcoming fiscal year. The Union Budget 2026-27 outlines significant expenditure and capital investment. Key proposals include changes to Securities Transaction Tax and the extension of the ITR filing date for certain businesses. The budget also details plans for new high-speed and freight corridors.
  • A new bill aims to speed up bankruptcy resolution in India. Finance Minister Nirmala Sitharaman introduced amendments to the Insolvency and Bankruptcy Code. The proposed changes focus on creditor-led, out-of-court settlements. This aims to reduce delays and improve the process for resolving insolvent companies. The bill also addresses cross-border and corporate group insolvency cases.
  • The Lok Sabha approved the Finance Bill, introducing enhanced tax authority powers and changes to share buyback taxation, capping the surcharge at 12%. The bill also allows retrospective tax case reopening and revalidation of past orders. Finance Minister Nirmala Sitharaman stated the aim is to reduce litigation and compliance burdens for small taxpayers and businesses.
  • India is advancing through reforms with conviction and clarity. Finance Minister Nirmala Sitharaman highlighted this during the Finance Bill 2026 debate. The bill focuses on empowering MSMEs, farmers, and cooperatives. It aims to boost liquidity and reduce compliance burdens. Customs reforms are also proposed to facilitate trade. These measures support India's economic growth.
  • The finance ministry has stated no formal study on GST rate rationalization's inflationary impact has been conducted, though lower rates are expected to benefit consumers. Separately, the Union government is not considering a farm loan waiver, with agricultural credit rising steadily. Meanwhile, 25% of Agniveers are absorbed into the armed forces, with the rest finding civilian job opportunities.
  • The government has proposed significant amendments to company and LLP laws to boost ease of doing business. Key changes include decriminalizing procedural defaults, relaxing CSR norms, allowing hybrid AGMs, and simplifying M&A procedures. These reforms aim to reduce compliance burdens for businesses, especially small firms and startups, and align India's corporate framework with global standards.
  • The SWAMIH Investment Fund II is being launched to help homebuyers with stuck investments. This fund aims to complete stalled housing projects across India. SWAMIH has already delivered over 63,000 homes and is reviving buyer confidence. The initiative provides priority debt financing for affordable and mid-income housing projects in distress. It acts as a last resort for developers facing challenges.
  • Finance Minister Nirmala Sitharaman presented the Finance Bill, 2026, in the Lok Sabha. This bill enacts the government's financial plans for 2026-2027. Key proposals focus on growth, job creation, and inclusive development. The budget emphasizes infrastructure, private investment, and skilling initiatives. Support for MSMEs, manufacturing, agriculture, and green energy is also included. The bill also amends corporate laws.
  • Finance Minister Nirmala Sitharaman presented the Corporate Laws (Amendment) Bill, 2026, and the Finance Bill, 2026 in the Lok Sabha. These bills aim to update the Limited Liability Partnership Act, 2008, and the Companies Act, 2013. The Finance Bill will provide legal backing for budget measures. Prime Minister Narendra Modi will also address the Lok Sabha today.
  • A new bill to amend corporate laws was introduced in the Lok Sabha. The legislation seeks changes to the Limited Liability Partnership Act and the Companies Act. The bill has been sent to a Joint Parliamentary Committee for a thorough review. The Finance Minister will also present the Finance Bill, 2026.
  • Parliament's Budget session resumes today. Finance Minister Nirmala Sitharaman will introduce the Corporate Laws (Amendment) Bill, 2026. She will also move for consideration of the Finance Bill, 2026. Several ministers will lay papers on the table. Reports on women's empowerment and urban affairs will be presented. The session continues until April 2.
  • During a recent conference, Finance Minister Nirmala Sitharaman highlighted the importance of easing tax payment processes for well-meaning citizens. She championed leveraging cutting-edge technology to pinpoint tax evaders. With the upcoming Income Tax Act, effective April 1, 2025, the goal is to transition India into a more tax-friendly environment.
  • Finance Minister Nirmala Sitharaman announced the Income Tax Act 2025, replacing the 1961 Act with a simpler, more concise framework effective April 1, 2026. The new law aims to foster voluntary compliance through extensive stakeholder consultation and a focus on taxpayer partnership, not adversarial relationships.
  • The Lok Sabha has approved a massive expenditure of over Rs 53 lakh crore for the 2026-27 financial year. This significant approval came after the passage of the Demands for Grants for various ministries. The House also cleared the Appropriation Bill (2) Bill, 2026, authorizing payments from the Consolidated Fund of India.
  • The Pradhan Mantri MUDRA Yojana has empowered numerous small entrepreneurs. Over Rs 39 lakh crore has been sanctioned since its launch. Non-performing assets remain low at approximately 2 percent. The scheme supports new and women entrepreneurs significantly. Banks are actively recovering outstanding loans through various measures.
  • Replying to a supplementary question in the Lok Sabha, Sitharaman said the modified programme would incorporate lessons from the earlier scheme, which was discontinued in April 2025 after nine years. "With studies done by Niti Aayog and others, this scheme is being redrafted and soon the Cabinet will be given a proposal with which we will launch a new scheme to continue with Stand-Up India, which benefitted SC/ST and women all over the country," she said.
  • Finance Minister Nirmala Sitharaman announced plans for four Special Lok Adalats in 2026. These will focus on clearing pending cases before Debt Recovery Tribunals and the Debt Recovery Appellate Tribunal. The initiative targets high-value cases, particularly those exceeding Rs 100 crore. This strategy aims to expedite the disposal of these significant financial matters.
  • The government is set to introduce a revamped Stand-Up India scheme. This initiative will offer enhanced benefits to entrepreneurs from Scheduled Castes, Scheduled Tribes, and women. The modified scheme aims to empower more individuals to establish new businesses. It incorporates lessons learned from the original program.
  • Minimum balance charges: Banks collected significant penalties from customers for low account balances. Public sector banks alone gathered over Rs 8,000 crore. However, zero-balance accounts like those under Pradhan Mantri Jan Dhan Yojana are exempt from these charges.
  • The Lok Sabha has approved an additional Rs 2.01 lakh crore in spending for the current fiscal year through supplementary demands for grants. Finance Minister Nirmala Sitharaman assured the House that this extra expenditure will not impact the fiscal deficit, which remains within the Revised Estimates. The government also reduced its total expenditure projection for the year.
  • The Economic Stabilisation Fund will give fiscal headroom to allow India to respond to global headwinds, Finance Minister Nirmala Sitharaman told Lok Sabha on Friday.
  • The Union Cabinet has approved amendments to the Insolvency and Bankruptcy Code (IBC) and the Companies Act, 2013, according to sources. The move follows recommendations from a Lok Sabha Select Committee and aims to streamline insolvency proceedings and improve corporate governance.
  • The government on Tuesday sought Lok Sabha approval for additional spending of over Rs 2.81 lakh crore in the current fiscal through the second batch of Supplementary Demands for Grants tabled by Finance Minister Nirmala Sitharaman.
  • Finance Minister Nirmala Sitharaman stated that rising crude oil prices are unlikely to significantly impact India's inflation, which remains near its lower bound. Meanwhile, the Sebi is reviewing the Calcutta Stock Exchange's exit proposal, and over 5.24 million unorganized workers have enrolled in the PM-SYM scheme.
  • With nearly 72 crore basic savings accounts, including PM Jan Dhan accounts, enjoying the perk of no penalties for low balance, this initiative is a game-changer for financial inclusion.
  • India faces potential economic consequences from the ongoing Iran conflict. The Finance Ministry warns of increased global uncertainty and financial market volatility. A key concern is the Strait of Hormuz, vital for oil shipments. Disruptions there could drive up oil prices. The situation's long-term impact on India remains unclear, with markets watching for a stable resolution to regional tensions.
  • Union Finance Minister Nirmala Sitharaman met Zou Jiayi, the new President of the Asian Infrastructure Investment Bank (AIIB), here in the national capital, where they discussed strengthening the India-AIIB partnership.
  • India's digital payments body, PCI, has voiced concerns to the Finance Minister following Fino Payments Bank CEO's arrest. While respecting law enforcement, PCI highlighted risks to governance continuity and trust in complex financial ecosystems. They emphasized the need for proportionality in accountability, especially for supervised institutions and their leadership.
  • India is set to procure 16 more domestically manufactured bullet trains, with two Japan-made Shinkansen trains also arriving by 2029-30 for the Mumbai-Ahmedabad High-Speed Rail corridor. This project, developed with Japanese collaboration and funding, is progressing well, with foundation work complete at eight of its twelve stations.
  • Finance Minister Nirmala Sitharaman will investigate the arrest of Fino Payment Bank CEO Rishi Gupta. Gupta was apprehended by GST authorities in Hyderabad. The bank stated the probe concerns a business partner's transactions, not the bank's compliance. Social media questioned the extent of GST powers. The Finance Minister acknowledged the issue and promised to look into it.
  • Finance Minister Nirmala Sitharaman, in a post-budget webinar on “Technology, Reforms and Finance for Viksit Bharat,” emphasized delivery-focused governance, efficient public investment, and greater private participation. Key discussions highlighted boosting infrastructure, strengthening financial markets, simplifying tax compliance, and fostering coordination between government, industry, and financial institutions to ensure budget reforms translate into tangible outcomes by 2040.
  • Tata Sons has deferred a decision on Natarajan Chandrasekaran’s third term as chairman, despite a prior unanimous Tata Trusts resolution backing his extension. Chairman Noel Tata reportedly raised concerns over losses, capital expenditure and a potential listing. The move highlights internal differences within the Tata Group’s holding structure.
  • Finance Minister Nirmala Sitharaman has launched the National Monetisation Pipeline 2.0, aiming for over Rs 16.7 lakh crore in receipts by 2029-30. This ambitious program, a significant increase from its predecessor, will see proceeds allocated across government funds and direct private investment. Key infrastructure assets like major expressways and hydropower stations are slated for monetisation.
  • Finance Minister Nirmala Sitharaman has instructed banks to halt the mis-selling of financial products such as insurance and to refocus on their primary role of taking deposits and extending credit. At the same time, the Commerce Ministry is reviewing how the latest US tariff revisions could affect India’s trade flows and broader economy.
  • Finance Minister Nirmala Sitharaman has clarified there is no current roadmap for public sector bank mergers. A new High-Level Committee on Banking for Viksit Bharat will examine the sector. This committee will review India's banking system to align it with growth goals. It will also focus on financial stability, inclusion, and consumer protection.
  • India's Finance Minister Nirmala Sitharaman says it is too early to comment on new US tariffs. The Commerce Ministry is reviewing the situation. India and the US have rescheduled trade talks. India continues to pursue trade agreements with various countries. RBI Governor Sanjay Malhotra noted these agreements will help India's current account and investments.
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Quote of the day by Paulo Coelho: 'Waiting is painful. Forgetting is painful. But not knowing which to do is the worst kind of suffering...' Sometimes fear of making a choice can be much more painful than the decision itself, explained by The Alchemist writerQuote of the day by Paulo Coelho: 'Waiting is painful. Forgetting is painful. But not knowing which to do is the worst kind of suffering...' Sometimes fear of making a choice can be much more painful than the decision itself, explained by The Alchemist writer
Career tips from a former recruiter: 8 things employers quietly notice on resumes that job seekers never hear aboutCareer tips from a former recruiter: 8 things employers quietly notice on resumes that job seekers never hear about
Kindness act of the day from USA: He spent decades serving others but was left struggling with pain in old age. Then strangers changed his lifeKindness act of the day from USA: He spent decades serving others but was left struggling with pain in old age. Then strangers changed his life
Thinking of prepaying your home loan? CA says you might be doing it wrongThinking of prepaying your home loan? CA says you might be doing it wrong
From James to The God of the Woods: 6 Barack Obama-recommended books worth adding to your reading listFrom James to The God of the Woods: 6 Barack Obama-recommended books worth adding to your reading list
Quote of the day by Oscar Wilde: 'The one charm of marriage is that it makes a life of deception absolutely necessary for both parties...' A century-old lesson on trust, compromise, and acceptance in relationships by the Irish literary legendQuote of the day by Oscar Wilde: 'The one charm of marriage is that it makes a life of deception absolutely necessary for both parties...' A century-old lesson on trust, compromise, and acceptance in relationships by the Irish literary legend
Quote of the day by Nicholas Sparks: ‘You are so caught up in being alone, you are afraid of what might happen if you actually find someone…’ what The Walk to Remember author's lines teach us about love, grief and emotional vulnerabilityQuote of the day by Nicholas Sparks: ‘You are so caught up in being alone, you are afraid of what might happen if you actually find someone…’ what The Walk to Remember author's lines teach us about love, grief and emotional vulnerability
Norwegian proverb of the day: ‘Bad is called good when worse happens…’ what this teach about facing hardshipsNorwegian proverb of the day: ‘Bad is called good when worse happens…’ what this teach about facing hardships
French proverb of the day: 'At the end of the chess game, both the king and the pawn go back into the exact same box...' A timeless lesson on why power and wealth does not define a personFrench proverb of the day: 'At the end of the chess game, both the king and the pawn go back into the exact same box...' A timeless lesson on why power and wealth does not define a person
Quote of the day by Angelina Jolie: 'You really try to hide from your children how much pain and sadness you carry,' what the Mr. & Mrs. Smith actress’s line reveals about parenting and emotional strengthQuote of the day by Angelina Jolie: 'You really try to hide from your children how much pain and sadness you carry,' what the Mr. & Mrs. Smith actress’s line reveals about parenting and emotional strength
Ramani Kalyanam OTT release date confirmed: When and where to watch the Telugu romantic drama onlineRamani Kalyanam OTT release date confirmed: When and where to watch the Telugu romantic drama online
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Business News › Magazines › Panache › Panache People 101 › Nirmala Sitharaman
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