Nirmala Sitharaman
Centre released ₹3,700 crore under PM-FME scheme; over 1 lakh entrepreneurs trained, says Nirmala Sitharaman
Finance Minister Nirmala Sitharaman announced the release of over ₹3,700 crore under the PM-FME scheme, supporting over one lakh entrepreneurs with training and ₹11,000 crore in loans for micro food processing units. She also launched the PM Dhan Dhaanya Krishi Yojana, aiming to empower farmers through value addition and market access.
Additional electronics consumption of Rs 20 lakh crore expected this year due to GST reforms: Vaishnaw
The minister said that data from all retail chains shows there were 20-25% more sales in comparison to last Navaratri and there are many such categories, like 85-inch TV where stocks were completely sold out.
IFSCA to roll out guidelines for video-based KYC for NRI customers by November
Non-Resident Indians will soon find it easier to open accounts and invest in GIFT City. The International Financial Services Centres Authority will introduce video-based Know Your Customer guidelines by November. This will eliminate the need for paper applications. A faceless authentication system is also being developed with UIDAI and RBI.
Nirmala Sitharaman offers prayers at Ram temple in Ayodhya with family
Union Finance Minister Nirmala Sitharaman offered prayers at the Ram temple in Ayodhya with her family. She performed 'aarti' of Ram Lalla, paid obeisance at the Ram Darbar and Goddess Durga, and performed an 'abhishek' of Lord Shiva. Discussions were held on temple security, darshan arrangements, and future development plans.
Tech must not be weaponised, says FM Nirmala Sitharaman
India's Finance Minister Nirmala Sitharaman stresses technology must benefit everyone, not be used for harm. She calls for fintechs to expand financial inclusion and support green finance. Concerns about AI misuse like deepfakes are highlighted. Sitharaman emphasizes responsible growth, balancing innovation with safety and compliance for a secure future.
Union Finance Minister Nirmala Sitharaman in Ayodhya on 2-day visit
Union Finance Minister Nirmala Sitharaman arrived in Ayodhya for a two-day visit, where she will join Chief Minister Yogi Adityanath to unveil statues of three legendary South Indian musicians. These installations at Brihaspati Kund celebrate India's rich musical heritage and symbolize the unity of North and South Indian traditions.
Nirmala Sitharaman inaugurates Farmers' Training Centre in Karnataka under MPLAD scheme
Union Finance Minister Nirmala Sitharaman inaugurated a Farmers' Training and Common Facility Centre in Vijayanagara, Karnataka. This centre will train self-help groups and farmers through Farmer Producer Organisations. The facility aims to enhance value addition for agricultural produce like groundnut and tamarind. Modern processing techniques will be introduced to improve quality and market value.
FM unveils real-time forex settlement at GIFT City
Finance Minister Nirmala Sitharaman launched a real-time foreign currency settlement system at GIFT City, replacing a delayed process. This new system enables instant transactions, eliminating the 36-48 hour lag and positioning GIFT-IFSC among global financial centers with local foreign currency settlement capabilities.
Finance Minister Sitharaman inaugurates pulse processing unit in Raichur, pledges support to farmers
Finance Minister Nirmala Sitharaman inaugurated a Farmers’ Training and Common Facility Centre in Raichur, Karnataka, to boost the pulse value chain and empower farmers. The centre, funded by MPLADS, will enhance pulse processing, packaging, and marketing, aiming to increase farmer incomes and reduce reliance on middlemen. Similar facilities are planned for seven districts.
Nirmala Sitharaman urges banks to increase agricultural credit to meet rural India's demands
Union Finance Minister Nirmala Sitharaman has directed rural banks to boost agricultural credit. She emphasized focusing on new rural economic opportunities and supporting Farmer-Producer Organisations. Sitharaman also called for improved operations and technology adoption to strengthen financial health.
FM says several deepfake videos of her are circulating, calls for strengthening defenses to maintain trust
Union Finance Minister Nirmala Sitharaman revealed she has personally encountered numerous deepfake videos of herself, emphasizing the urgent need to bolster defenses against digital deception. Speaking at the Global Fintech Fest, she highlighted how AI's power can be weaponized for fraud, stressing that criminals are now hacking trust by mimicking voices and cloning identities.
Youth powering next-gen fintech ideas amid 87% digital adoption, says FM Sitharaman
The vibrant youth of India are spearheading a revolution in fintech, as highlighted by Nirmala Sitharaman's announcement of an impressive 87% digital payment adoption rate—well above the global norm of 62%. Through initiatives like Jan Dhan and enhanced digital frameworks, financial inclusion has soared. The fintech landscape now offers instant credit and simplified loan processes.
Fertiliser companies may get relief as subsidy inversion issue lingers
In light of ongoing challenges within the fertiliser sector, the government is actively pursuing strategies to assist companies struggling with working capital. The root of the issue lies in the impact of subsidies on price structures, which inhibits firms from fully claiming input tax credits on their sales.
GST reduction boosts sales, consumption likely to stay strong: Sitharaman
Finance Minister Nirmala Sitharaman stated that reduced GST rates, effective September 22, have boosted consumption, with sectors like automobiles and consumer durables showing robust sales. She expressed confidence that this demand surge will continue post-festive season, as businesses are passing on benefits to consumers.
How's the Josh after Diwali gifts? Sitharaman, Vaishnaw state how Indians gained from GST cuts
Nearly a month after the new GST rates came into effect, Finance Minister Nirmala Sitharaman and IT & Railways Minister Ashwini Vaishnaw said Indians are benefiting from the cuts. Sitharaman noted that tax reductions on all 54 daily-use items monitored by the government have been passed on to consumers.
Sitharaman launches foreign currency settlement system in GIFT City
Finance Minister Nirmala Sitharaman launched a foreign currency settlement system in GIFT City to facilitate seamless, real-time transactions, boosting international trade and investment. This new infrastructure positions GIFT IFSC among global financial hubs like Hong Kong and Tokyo, enhancing liquidity and operational resilience for entities within the International Financial Services Centre.
FM Sitharaman says Rs 3,700 crore released to states under PM-FME scheme
Finance Minister Nirmala Sitharaman announced that the PM-FME scheme has released over Rs 3,700 crore to states and sanctioned Rs 11,000 crore in loans to micro food processing units. Over one lakh entrepreneurs have been trained, empowering them to transform local crops into marketable products and strengthening rural livelihoods.
Focus on ideas, not profit: Nirmala Sitharaman tells young innovators
Union Finance Minister Nirmala Sitharaman encouraged young innovators to prioritise idea development over immediate profits. She assured government support through incubation and hand-holding mechanisms. Sitharaman highlighted India's growing ability to retain and attract skilled talent. The minister emphasised collective efforts from investors, mentors, and regulators for commercial viability.
Maharashtra gets Rs 6,418 crore advance instalment of tax devolution from Centre
Maharashtra received an advance tax devolution of Rs 6,418 crore from the Central government, Deputy Chief Minister Ajit Pawar announced. This instalment is part of a larger Rs 1,01,603 crore released to states to accelerate capital spending and finance welfare schemes. Pawar thanked the Centre, noting the funds would greatly benefit Maharashtra ahead of the festive season.
TN stampede: No words to describe their sorrow, says Nirmala Sitharaman after meeting affected families
Union Finance Minister Nirmala Sitharaman visited Karur. She met families of stampede victims. Forty-one people died in the recent incident. She also visited injured individuals at the hospital. The Minister conveyed sorrow. She advocated for national standard operating procedures. These procedures would apply to all public gatherings. This aims to prevent future tragedies.
With digital payment adaptability at 87%, India working on next-gen fintech ideas, says FM
Interacting with students at IIT-Dharwad, where Nirmala Sitharaman inaugurated the dhaRti BioNEST Incubation Centre, the finance minister praised the ideas coming from the youth at the recent global fintech fest in Mumbai.
Home minister Amit Shah shifts to Zoho Mail; company eyes end-to-end encryption rollout
Amit Shah said on Wednesday that he switched to Zoho Mail for government communications, a move seen as a strong endorsement of the Chennai-based software firm's privacy and encryption stance. Ministers Ashwini Vaishnaw, Piyush Goyal and Nirmala Sitharaman have already lent support to the homegrown company by shifting to its products.
Tata gets clear signal from Shah and Sitharaman to ‘do what it takes’ and restore group stability
Union ministers Amit Shah and Nirmala Sitharaman met Tata group leaders to address internal discord within Tata Trusts. The government urged swift action to prevent the power struggle from impacting Tata Sons, emphasizing the Trusts' public responsibility due to the conglomerate's economic significance. Discussions also covered Tata Sons' public listing and liquidity for the Shapoorji Pallonji Group.
Pvt sector beginning to see opportunities in India; govt's commitment to capex continues: FM Sitharaman
Finance Minister Nirmala Sitharaman stated private sector investment is increasingly seeing opportunities in India, particularly with reviving interest in public-private partnership projects. She emphasized the government's significant and continued commitment to capital expenditure, which has steadily grown over the last five years to maintain economic momentum.
FM Nirmala Sitharaman launches 'Your Money, Your Right' campaign
The finance minister underlined the importance of the "3 A's" - Awareness, Accessibility and Action - as the guiding principles of the campaign, and said these three pillars would help bridge the gap between citizens and financial institutions, promoting community awareness, and ensuring that every individual can reclaim their rightful savings with dignity and ease.
Baijayant Panda to head select House committee on IBC changes
Senior BJP leader Baijayant Panda has been appointed to chair a 24-member Parliamentary committee vetting proposed amendments to the insolvency law. This panel will review the IBC Amendment Bill, 2025, aiming to expedite stressed asset resolution and introduce frameworks for creditor-initiated and cross-border insolvency.
Government eyes to increase pulses production by 40% by 2030-31 crop year
India aims for self-sufficiency in pulses by 2030-31. A new six-year mission will boost production by 40 percent. The government plans to increase cultivation area and crop productivity. Focus will be on key pulses like tur, urad, and masur. Assured procurement will support farmers. High-yielding seeds will be promoted to meet domestic demand.
India's vision for Viksit Bharat needs infrastructure push: Amitabh Kant
Amitabh Kant, former NITI Aayog CEO, called for higher infrastructure spending for Viksit Bharat. He spoke at the Kautilya Economic Conclave. Finance Minister Nirmala Sitharaman also addressed the event. She discussed India's global economic role. Sitharaman noted global order changes and economic turbulence. She urged dialogue to shape the future.
India-US talks may make news next week; all eyes on deadline, possible breakthrough
An Indian delegation is in the US for crucial trade talks this week. The visit aims to finalise a bilateral trade agreement, with both nations expressing satisfaction with progress. Discussions will focus on trade matters, excluding non-trade issues. This move signals a renewed push towards a mutually beneficial conclusion, potentially boosting trade to $500 billion by 2030.
Portal rollout soon for speedy transfer of unclaimed shares
The corporate affairs ministry is launching an integrated portal this month to expedite the transfer of old unclaimed shares and dividends to investors. This initiative, after two years of planning, will allow investors to check and submit claims. Additionally, a new dedicated CEO post for the IEPFA has been approved to bolster staff and streamline processes.
FM Nirmala Sitharaman to launch nationwide awareness campaign for unclaimed financial assets on October 4
Finance Minister Nirmala Sitharaman will launch a three-month nationwide awareness campaign, 'Apki Poonji, Apka Adhikar', starting October 2025. This initiative, involving key financial regulators, aims to empower citizens by providing guidance and tools to trace and claim their unclaimed financial assets. The campaign seeks to strengthen financial inclusion and ensure rightful claims for all.
How Rs 78 lakh crore mutual fund industry tweaked portfolios after GST rate cut, before Q2 results
In September, mutual funds rebalanced portfolios, increasing exposure to banks, automobiles, and select sectors, while trimming technology and consumer stocks; key buying seen in HDFC Bank, ICICI Bank, Kotak, and Tata Steel.
Smartphones may contribute over ₹3 lakh cr in taxes during PLI years
India's smartphone industry projects over ₹65,000 crore in GST this fiscal, following ₹2.45 lakh crore during the PLI scheme's initial phase. The PLI scheme has significantly boosted production and exports, contributing substantially to government revenue and establishing India as a major global player in mobile manufacturing.
Tariffs reshaping global economy while India stays on the hunt for 8% GDP growth, FM Sitharaman says
Finance Minister Nirmala Sitharaman stated that tariffs are reshaping the global economy amid geopolitical tensions, as India pursues 8% GDP growth for 'Viksit Bharat' by 2047. She emphasized that current disruptions are structural transformations, not temporary, and called for multilateral institution reform to restore global confidence.
Tata group leaders meet Amit Shah, Nirmala Sitharaman amid Tata Trusts' internal rift over governance, appointments
Top Tata group leaders, including Noel Tata and N Chandrasekaran, met with Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman. The meeting occurred amidst internal disputes among Tata Trusts trustees concerning board appointments and governance, potentially affecting the conglomerate's operations.
Govt opens PM Gati Shakti portal to pvt sector
The Indian government has opened its PM Gati Shakti portal to the private sector. This move aims to boost last-mile delivery services and infrastructure development. Private entities can now access crucial data for planning and investment. This initiative supports better project design and coordination. It will also aid informed decisions in healthcare, disaster management, and agriculture sectors.
FM Nirmala Sitharaman bats for wider NPS coverage, focus on gig workers & women
Finance Minister Sitharaman advocated for wider NPS coverage for informal and gig workers, stronger pension security for women, and early financial literacy. She emphasized fiscal sustainability and proposed "pension sakhis" to boost awareness. These reforms aim to strengthen retirement security and promote self-reliance, especially given India's projected aging population.
Tata Trusts board meets amid infighting among trustees
Tata Trusts board met Friday, focusing on routine projects. This follows a meeting with Union ministers. A rift among trustees over board appointments and governance has emerged. The dispute centers on nominations to the Tata Sons board. Vijay Singh resigned from the Tata Sons board after his reappointment was rejected. The situation impacts the Tata conglomerate.
Financial assets worth Rs 1.84 lakh crore lying unclaimed with banks, regulators: Sitharaman
Union Finance Minister Nirmala Sitharaman launched a campaign in Gandhinagar. The initiative aims to return 1.84 lakh crore rupees in unclaimed financial assets. These funds are with banks and regulators. The three-month Apki Poonji, Apka Adhikar campaign will focus on awareness, access, and action. Officials will ensure rightful owners claim their money. The RBI's UDGAM portal will assist claimants.
ETtech Explainer: Will India toss the stablecoin, or embrace it?
A stablecoin is a type of cryptocurrency pegged to another asset, such as gold or the US dollar. Unlike volatile cryptocurrencies such as Bitcoin, stablecoins aim to provide a fixed value as a medium of exchange. This stability is achieved through asset-backing commodities such as gold or stable fiat currencies like the USD. ETtech explains.
8-member NDA-BJP delegation reaches Karur, inspects stampede site
An eight-member NDA-BJP delegation visited Karur following a stampede at actor Vijay's TVK event that claimed 41 lives. Eyewitnesses described chaos and poor crowd management, while police arrested TVK functionaries and a YouTuber in connection with the incident. Both central and state leaders have called for establishing standard operating procedures and strict guidelines for public gatherings.
FM Nirmala Sitharaman to inaugurate Kautilya Economic Conclave on October 3
Finance Minister Nirmala Sitharaman will inaugurate the 4th Kautilya Economic Conclave in Delhi on October 3. The three-day event, themed 'Seeking Prosperity in Turbulent Times', will gather 75 global experts from 30 countries to brainstorm India's and the world's economic future amidst turbulence, covering topics from Asia's growth to financial stability.
India’s fiscal deficit for April–August at ₹5.98 lakh crore, widens to 38.1% of FY26 target
India’s fiscal deficit for April–August hit ₹5.98 lakh crore, or 38.1% of the FY26 target, as government spending outpaced revenue growth in the first five months, official data showed on Tuesday.
Google’s five-year plan for India: A $15-billion tech hub
PM Narendra Modi said the technology major’s investment aligns with the Viksit Bharat vision. “It will be a powerful force in democratising technology. It will ensure AI for all, delivering cutting-edge tools to citizens, boosting our digital economy and securing India’s place as a global technology leader,” he said in a post on X.
Robust consumption bulwark against external shocks: FM Sitharaman
Finance Minister Nirmala Sitharaman affirmed India's economic growth is firmly anchored in robust domestic consumption, blunting external shocks. Addressing the Kautilya Economic Conclave, she emphasized India's strong resilience and evolving economic leverage, urging developing nations to be active global participants. Sitharaman detailed strategic reforms driving growth, targeting 8% annually to achieve developed nation status by 2047.
FM launches GST appellate tribunal to cut tax litigation
Nirmala Sitharaman launched the Goods and Services Tax Appellate Tribunal. GSTAT aims to reduce tax litigation. It will provide a single tax regime. The focus is on simplified decisions and digital filings. GSTAT and GST reforms will unlock capital. It will reduce legal issues. This will facilitate faster cash flow for MSMEs. It will help exporters and investors.
Centre taking undue credit for lowering GST rates, move was initiated by state: Mamata Banerjee
West Bengal Chief Minister Mamata Banerjee asserted that the central government is improperly claiming credit for the reduction of GST rates. She stated that the initiative to lower GST was originally proposed by the state government during a GST Council meeting. Banerjee highlighted the state's revenue loss of Rs 20,000 crore due to the GST reduction.
All Zoho products made in India, taxes paid here on global income: Founder Sridhar Vembu
Zoho co-founder Sridhar Vembu clarified that all Zoho products are developed in India, with its global headquarters in Chennai, and taxes paid in India on global income. He stated Indian customer data is hosted domestically, and Zoho services run on company-owned hardware, not major cloud platforms. Vembu reiterated Zoho's "Made in India, Made for the World" commitment.
Keep balance sheet strong to fund infra, innovation: FM Sitharaman tells banks
Finance Minister Nirmala Sitharaman urged financial institutions to maintain strong balance sheets to fund infrastructure, industry, and MSMEs, while partnering with NBFCs to reach underserved sectors. She highlighted the increasing demand for credit and innovative financial products as India's economy grows.
Consumers see savings as traders, insurers pass on GST benefits, says Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman reports the Bachat Utsav initiative is successfully passing GST rate cut benefits to consumers, evidenced by increased savings on essentials and insurance. The auto sector is experiencing record sales, with Maruti Suzuki reporting significant gains. Banking sector reforms have strengthened public sector banks, fostering competition and improved service.
GST 2.0 list PDF download: Check and download PDF containing full list of changes here
Effective September 22, 2025, India's GST regime undergoes a major overhaul following the 56th GST Council meeting led by Finance Minister Nirmala Sitharaman. The revised rates, officially notified by the Centre, streamline the previous four-slab system into a two-rate structure.
Sitharaman asks fintechs to strengthen risk management to check AI misuse
Speaking at the 6th edition of Global Fintech Fest 2025 here, the finance minister also said India has the potential of becoming the global hub for building various AI products and services. During the event, Sitharaman launched the Foreign Currency Settlement System (FCSS) of GIFT IFSC designed to settle transactions in foreign currencies on a real-time or near real-time basis.
Banks critical to India's growth in an uncertain world, says FM Nirmala Sitharaman
FM Nirmala Sitharaman emphasised the critical role of banks in driving India's growth amid global uncertainty, urging them to maintain strong balance sheets for infrastructure, industry, and MSME investments. She highlighted the need for partnerships with NBFCs to extend credit to underserved sectors.
India’s Russian oil imports ease in September amid US talks
India's oil imports from Russia slightly decreased in September, yet still accounted for a third of its total shipments, despite US efforts to reduce these flows. New Delhi continues to prioritize price-driven deals, with Russian crude remaining attractive due to discounts. India balances economic advantage with geopolitical considerations, while also exploring diversified energy sources.
Multiple trustees now lean towards IPO for Tata Sons
Tata Trusts trustees are considering a change to a resolution that kept Tata Sons private. This move could allow the conglomerate's holding company to be listed on stock exchanges. The Shapoorji Pallonji Group has long sought a listing for liquidity. The government has urged stability within the Trusts. Divisions among trustees are evident, with some advocating for the listing.
Visakhapatnam's AI jackpot; Lenskart IPO scoop
Google, Adani and Airtel are partnering to build a major AI hub in Andhra Pradesh. This and more in today's ETtech Top 5.
Sectoral and thematic fund inflows fall over 69% in September. Is investor appetite cooling?
Sectoral and thematic mutual fund inflows tumbled 69% in September, driven by profit-booking and redemptions. Experts advise long-term investors to stay patient, use SIPs, and maintain diversified exposure, while limiting any single sector allocation to 5–10% amid cyclical and concentrated risks.
RBI GDP growth 2025: Central bank raises FY26 growth forecast to 6.8%
The RBI's Monetary Policy Committee revised India's FY26 GDP growth forecast to 6.8%, up from 6.5%, while keeping the repo rate unchanged. This optimism, driven by domestic demand and reforms, contrasts with the Asian Development Bank's lowered projection of 6.5% for FY26, citing significant US tariffs on Indian exports and global uncertainties.
'Why didn’t you take care of yourself?': Nirmala Sitharaman shares PM Modi’s personal call after her first budget speech
Nirmala Sitharaman shared a personal anecdote revealing Prime Minister Modi's caring nature, recounting how he promptly sent his doctor after her first Budget speech due to concerns about her well-being. She highlighted that beyond his strong leadership, Modi consistently shows genuine compassion and thoughtfulness towards his colleagues. This blend of firmness and humanity, she believes, distinguishes him as a leader.
Delhi govt to transfer Ladli scheme honorarium to 40,000 beneficiaries on Oct 1
Delhi government will provide honorarium to nearly 40,000 beneficiaries under Ladli scheme on October 1. The event will be held at Talkatora Stadium. Chief Minister Rekha Gupta and Union Finance Minister Nirmala Sitharaman are expected to participate. The Ladli scheme aims to empower girl children born in Delhi. It provides financial support in the form of term deposits.
Redevelopment, reform sops at core of ₹1lakh-cr new urban fund
The Indian govt is launching a ₹1 lakh crore Urban Challenge Fund to transform cities by redeveloping abandoned buildings and repurposing government land with private sector involvement. Around 300 cities will compete for funding, with the Centre contributing 25% of project costs, emphasizing drainage, sanitation, and incentivizing municipal reforms for urban growth.
Zoho bets on data sovereignty, ad-free model to scale as ministers rally behind local tech
Zoho CEO Mani Vembu champions data localisation and an ad-free model for Arattai and its office suite, endorsed by Union ministers. Arattai, touted as 'India’s WhatsApp', saw a 100x traffic surge, with NIC integrating Zoho tools. Zoho aims to make Arattai a Digital Public Infrastructure, ensuring privacy, encryption, and no data selling, while expanding features and supporting India's digital sovereignty.
India moved to fewer GST slabs, but 'not yet' ready for one rate: FM Nirmala Sitharaman
Nirmala Sitharaman said India is not ready for a single GST rate. The government has rationalized GST slabs. The current four-rate structure was carefully created. Reforms aim to simplify the system. Prime Minister Narendra Modi wants to strengthen GST. Documents comparing tax devolution between NDA and UPA governments were shared. More details on GST rate reductions will be released soon.
View: Trump's tariffs will soon test Narendra Modi’s fiscal frugality
US tariffs will soon impact Indian exports. Labour-intensive sectors like leather and textiles face high duties. Jobs will be lost in states like Uttar Pradesh and Gujarat. The Modi govt will likely maintain fiscal prudence. It plans to avoid large financial support for affected businesses. A small credit package is under consideration. This approach might carry risks for many small exporters.
GST reforms are huge victory for each and every citizen of country: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman announced in Chennai that GST reforms are a significant win for all Indian citizens. Implemented ahead of schedule, these reforms, effective from September 22, will positively impact various products throughout the day. Notably, taxes on 99% of goods previously taxed at 12% GST have been reduced to 5%.
Govt approves Rs 4,645 cr for various mitigation projects in 9 states
Amit Shah-led high-level committee approved disaster mitigation, recovery, and reconstruction projects worth Rs 4,645.60 crore across nine states, including Assam, Kerala, and Madhya Pradesh. Key initiatives include Assam’s Rs 692 crore wetland restoration and Urban Flood Risk Management Phase-2 in 11 cities (Rs 2,444 crore).
AIADMK chief Palaniswami meets Amit Shah amid talk of party reunification
E Palaniswami of AIADMK met Amit Shah at his residence. This happened amidst discussions about welcoming back expelled leaders into the party. Several AIADMK leaders and BJP chief JP Nadda are expected to attend the meeting. Some BJP leaders suggest merging all AIADMK factions for Tamil Nadu's benefit. However, the AIADMK leadership seems hesitant about this idea.
Nirmala Sitharaman's message to India Inc: Don't hesitate, invest and expand
Nirmala Sitharaman asked Indian industries to invest more. She said the government has delivered on reforms. New reforms may leave Indian economy with Rs 2 lakh crore cash. Tata Sons Chairman N Chandrasekaran said the opportunity is enormous. He believes more companies would make investments. He added that India is the best place for investment.
Experts flag input tax credit blockage for FMCG distributors despite GST relief
A recent GST circular clarifies trade discounts and credit notes, easing manufacturers' tax burden but creating cash-flow pressure for FMCG distributors due to accumulated input tax credit. Distributors also seek urgent clarification on ITC treatment post-rate cuts and highlight anomalies like detergent taxation, underscoring implementation challenges.
GST reforms to inject Rs 2 lakh cr into economy, boost demand across sectors
Union Finance Minister Nirmala Sitharaman announced that recent GST reforms are projected to inject approximately Rs 2 lakh crore into the Indian economy, stimulating demand across various sectors.
Sitharaman launches GSTAT, cases to be heard December onwards
Nirmala Sitharaman inaugurated the Goods and Services Tax Appellate Tribunal. This aims to speed up dispute resolutions between businesses and tax authorities. Businesses can now file cases on the portal. Hearings are expected to begin in December. The tribunal will act as a one-stop forum for GST disputes. The limitation period for filing appeals is extended.
"Transformative shift in India's healthcare": Pharma alliance lauds GST reforms ahead of implementation
The Indian Pharmaceutical Alliance lauds the upcoming GST reforms, effective Monday, as a transformative step towards affordable healthcare. Prime Minister Modi's initiative reduces GST on most medicines from 12% to 5%, with complete exemption for 36 critical life-saving drugs.
NFO Insight: Invest in Adani, Ambani, Birla stocks with this fund from ICICI Prudential Mutual Fund
ICICI Prudential Mutual Fund has launched the ICICI Prudential Conglomerate Fund, an open-ended equity scheme focusing on promoter-led Indian business groups with diverse listed entities. The NFO, open until October 17, aims to capture the resilience and growth potential of these diversified entities across various sectors and market caps.
Pass on GST relief to policyholders: Govt tells insurers
The government has instructed insurance companies to fully pass on the GST exemption benefits to policyholders, aiming to make insurance more affordable. Financial Services Secretary M Nagaraju emphasized proactive outreach to publicize these reforms and their positive impact on accessibility. This measure seeks to strengthen financial security and increase insurance penetration nationwide.
Shed hesitation, expand capacity: FM's message to India Inc
Finance Minister Nirmala Sitharaman encouraged Indian industries to invest and expand. She addressed the Indian Foundation For Quality Management. Sitharaman emphasized the need for a skilled workforce. The government plans to upgrade Industrial Training Institutes for AI skills. Collaboration between government, industry, and institutions is crucial. The Centre recognizes the importance of the MSME sector.
Karur stampede: TVK leaders remanded to judicial custody till October 14
Two TVK functionaries were sent to judicial custody until October 14 following a stampede at actor Vijay’s rally in Karur, which tragically claimed 41 lives. The party argues police failed to provide adequate security despite being informed of the expected crowd. An inquiry commission has been formed to investigate the incident and ensure accountability.
FM Sitharaman highlights role of GIFT City as global financial service provider
Finance Minister Nirmala Sitharaman emphasized GIFT City's role as a global financial hub during a meeting with HSBC's top management. Discussions centered on India's growth trajectory, government policies, and HSBC's support for initiatives like Make in India and green energy. HSBC expressed appreciation for India's regulatory and taxation reforms, affirming its commitment to contributing through financing and innovation.
Gem & jewellery trade industry urges FM Sitharaman for domestic sales, loan relief amid US tariff impact
The gem and jewellery industry has urged Finance Minister Nirmala Sitharaman to allow SEZ units, including Mumbai's SEEPZ, to produce for the domestic market and seek a six-month interest moratorium on US export loans. The move aims to protect jobs amid a 50% US tariff, declining orders, and financial strain. The industry also requested an extended export obligation period and deferred interest on working capital loans.
New GST reforms set to inject Rs 2 Lakh Cr into economy: Finance minister Sitharaman
Finance Minister Nirmala Sitharaman announced that recent GST reforms, primarily moving goods from higher tax slabs to 5% and 18%, are projected to inject ₹2 lakh crore into the economy. Effective September 22, the revised rates aim to simplify the tax structure, boost consumption by increasing disposable income, and make everyday items cheaper for the common man.
Indians to soon have Rs 2 lakh crore more cash in hand from GST cuts: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman announced that the GST rejig is expected to put ₹2 lakh crore back into the hands of the common people, potentially boosting discretionary spending. She highlighted that 99% of goods contributing to 12% of revenue now fall under the 5% GST slab, benefiting the middle class and the poor.
Consumption funds lost over 8% on average in 1 year. Will GST change the picture?
Consumption-based mutual funds posted negative returns last year, but recent GST 2.0 reforms, simplifying tax slabs and cutting FMCG rates, are seen as a major positive. Experts believe these changes, coupled with India's evolving consumption story, create an opportune moment for long-term investors, with new funds launching.
Travel insurance: Is it GST free now, how much can you save on your next trip?
Most experts are of the view that travel insurance premiums are now GST-exempt, offering financial relief to travelers. Effective September 22, 2025, individual health and life insurance policies, including travel covers with medical and accident benefits, are free from GST. This exemption even applies to comprehensive travel policies, covering baggage loss and flight cancellations, provided they are bundled with health or accident cover, per many experts, making travel more affordable.
GST rate cuts from Monday to make food, medicines, cars and electronics cheaper
Starting September 22nd, consumers will benefit from reduced GST rates on approximately 375 items, encompassing kitchen staples, electronics, medicines, and automobiles. The GST Council's decision aims to lower prices on mass consumption goods like ghee, paneer, and ice cream, as well as aspirational items such as TVs and washing machines.
GST 2.0 in action: How govt made Diwali savings real for consumers
Ahead of Diwali, the government has implemented GST 2.0, reducing rates to boost festive shopping. The reform simplifies slabs to 5% and 18%, exempting essentials and health insurance. Finance Minister Nirmala Sitharaman is ensuring revised prices are displayed, with the goal of injecting ₹2 lakh crore into the economy.
Which sectors will gain from new GST reforms beginning from Monday?
The Goods and Services Tax (GST) Council has approved wide-ranging reforms that will impact key sectors of the economy, including food, housing, automobiles, agriculture, healthcare, and education. The measures, announced after the 56th meeting of the Council chaired by Union Finance Minister Nirmala Sitharaman, are set to come into effect from Monday, September 22, 2025.
Andhra CM seeks centre's help for aqua sector hit by US tariffs
In letters to finance minister Nirmala Sitharaman, commerce and industry minister Piyush Goyal, and fisheries minister Rajeev Ranjan Singh, Naidu on Monday made a case for bank support for exporters and aqua companies in the form of a 240-day moratorium on loan and interest repayments, interest subsidies and a temporary waiver of the 5% goods and services tax (GST) on frozen shrimp.
Trump’s 50% tariff hits Tamil Nadu tanneries, hundreds of factories shut
The leather industry in Tamil Nadu and other Indian states faces a crisis. US tariffs have led to factory closures and job losses. Exporters struggle as orders decline and goods remain stuck. Workers face unpaid leave and financial hardship. The government is urged to provide support. Companies consider relocating to countries with lower tariffs.
India will not alter its fiscal 2026 borrowing calendar: FM Sitharaman
Finance Minister Sitharaman confirmed India’s borrowing will stay at ₹14.82 trillion this year, easing concerns over rising bond yields.
Regulations should foster innovations, not wipe them out: FM Sitharaman
Finance Minister Nirmala Sitharaman stressed the need for regulations that promote responsible AI innovation without stifling technology. Releasing NITI Aayog’s report ‘AI for Viksit Bharat’, she highlighted challenges like job displacement in routine roles and the importance of reskilling. India must align industrial and trade policies to boost productivity, foster innovation, deepen domestic demand, and strengthen participation in global value chains.
India looking for ways to enhance Rs 11.21 lakh crore FY26 capex outlay to boost consumption: Report
The Finance Ministry is engaging with various departments to identify new opportunities for capital expenditure in the next fiscal year, potentially exceeding the ₹11.21 lakh crore target for FY26. This initiative aims to stimulate economic demand and leverage infrastructure-led growth, with a focus on sectors like Railways and Road Transport.
Why your everyday-milk pouches are not getting cheaper despite the GST rejig
India’s top dairy brands Amul and Mother Dairy clarified that pouch milk prices remain unchanged under the new GST regime, as it has always been exempt. While UHT milk prices are reduced after the GST rate cut from 5% to nil, everyday pouch milk—including Full Cream, Toned, and Cow Milk—remains unaffected, contrary to earlier media reports.
Moneylenders quietly spread their nets as GST bargain rush begins
India's festive season coincides with GST 2.0. Banks and NBFCs offer credit deals to boost spending. Lower prices and tax reforms are expected to increase credit growth. Lenders are cautious about overextension risks. The streamlined GST aims to make essentials cheaper. Experts are analysing the impact of these changes on the Indian economy. The RBI is monitoring unsecured lending.
