Sitharaman was the Defence Minister in Modi's previous cabinet. She was appointed Defence ministr post the cabinet reshuffle of Modi government on September 3, 2017. Prior to this Sitharaman has served as a Minister of State for Finance and Corporate Affairs under the Ministry of Finance and the Minister for Commerce and Industry with independent charge.
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Until recently, she served as a national spokesperson for the Bharatiya Janata Party (called Bharatha Makkal Kazhagam in Tamil). She had been allotted the MP seat in the Rajya Sabha representing the state of Karnataka.
LAST UPDATED : Sep 26, 2020, 04:49 AM IST
- Andhra Pradesh finance minister meets Nirmala Sitharaman
In less than 24 hours of chief minister Y S Jaganmohan Reddy’s twoday stay in the national capital, finance minister Buggana Rajendranath held separate meetings with Union finance minister Nirmala Sitharaman and minister of state for finance Anurag Thakur.
- Parliament passes banking regulation bill to bring co-operative banks under RBI's supervision
Finance minister Nirmala Sitharaman on Tuesday during the debate on the Banking Regulation (Amendment) Bill, 2020, informed the Rajya Sabha about that there are 277 urban cooperative banks are reporting loss; 105 urban cooperative banks are unable to meet the minimum regulatory capital requirements as of March 2019. The Bill was passed by the Rajya Sabha on Tuesday.
- CA bodies appeal to finance minister to amend TCS norms, extend I-T return due date
The new provisions relating to tax collection at source (TCS) kick in from October 1. The dire economic situation arising out of the pandemic and certain ambiguities in these provisions has led several CA associations to make a joint representation to the finance minister.
- Parliament passes Bilateral Netting of Qualified Financial Contracts Bill
Parliament on Wednesday passed a Bill that seeks to provide a legal framework for bilateral netting of qualified financial contracts. Lok Sabha had passed the bill on Sunday. The legislation allows for the enforcement of netting for qualified financial contracts. Finance minister Nirmala Sitharaman termed the Bill as critical for the country's financial stability.
- GST Council to take call on funding compensation shortfall: Finance minister
Finance minister Nirmala Sitharaman on Friday said the GST Council will arrive at a common ground on ways to compensate states for loss of revenue, amid opposition charge that the Centre is reneging on its promise of compensation. The minister, however, ruled out funding the shortfall from the consolidated fund of India, saying it has to be paid from the compensation cess kitty.
- Bulk of additional spending will go towards people-centric schemes: Finance minister
Finance minister Nirmala Sitharaman on Friday said that bulk of the additional spending sought in the first batch of the supplementary demands for grants would be spend on people-centric schemes to help them amid the coronavirus pandemic.
- Parliament passes bill to bring cooperative banks under RBI's supervision
Parliament on Tuesday passed amendments to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI, a move aimed at protecting the interest of depositors. The Banking Regulation (Amendment) Bill, 2020, which replaces an ordinance that was promulgated on June 26, was passed by a voice vote in Rajya Sabha.
- Insolvency proceedings against corporate debtors, personal guarantors can go together: Nirmala Sitharaman
Nirmala Sitharaman was replying to a debate on the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, in the Rajya Sabha which passed the proposed legislation to replace an ordinance in this regard with voice vote.
- Lok Sabha witnesses noisy scene over introduction of tax bill
Lok Sabha on Friday witnessed noisy scenes when Union Finance Minister Nirmala Sitharaman sought to introduce a bill to give effect to various compliance relief measures for taxpayers, including extending time limits for filing returns and linking PAN with Aadhaar, leading to adjournment of the House multiple times.
- SBI launches portal for loan restructuring scheme: All you need to know
India's largest lender the State of Bank of India (SBI) on Monday launched an online portal for implementation of loan restructuring scheme to provide relief to its customers amid the ongoing Covid-19 pandemic. Retail borrowers can easily check their eligibility for restructuring of their loans through the portal.
- Simple woman finance minister saying 'act of god' taken sarcastically: Nirmala Sitharaman
Taking on critics, Nirmala Sitharaman on Friday said a "simple woman finance minister saying Act of God is taken sarcastically" while latin word 'force majeure' is well accepted. Speaking in Lok Sabha, Sitharaman said her remark is being criticised also because she "looks like a neighbourhood aunty" and asserted that twisting her comment is irresponsible.
- Changes in banking regulation law aimed at improving governance in co-operative banks: Finance minister
Finance minister Nirmala Sitharaman on Wednesday said amendments to the banking regulation law seeking to extend the supervision of the Reserve Bank of India (RBI) to cooperative banks are aimed at improving their governance and protecting depositors' money.
- BJP seeks Saugata Roy's apology over his personal comments at Nirmala Sitharaman in Lok Sabha
Personal comments aimed at finance minister Nirmala Sitharaman from Trinamool Congress member Saugata Roy in Lok Sabha on Monday drew a sharp reaction from the treasury benches with parliamentary affairs minister Pralhad Joshi demanding his unconditional apology. Roy's comments were expunged by Lok Sabha Speaker Om Birla.
- TTD chairman meets Union finance minister, seeks help on demonetised notes
Tirumala Tirupati Devasthanams chairman Y V Subba Reddy met finance minister Nirmala Sitharaman in New Delhi on Tuesday and sought her support and help in connection with a few pending financial issues affecting the temple body.
- 21 states accept Rs 97,000 crore borrowing proposal to meet GST shortfall
As many as 21 states, mostly ruled by BJP or parties which have supported it on various issues, have opted to borrow Rs 97,000 crore to meet the GST revenue shortfall in the current fiscal, sources said. The states which do not submit their borrowing options before the due GST Council meet on October 5 will have to wait till June 2022 to get their compensation dues.
- Nirmala Sitharaman presents first batch of supplementary demands; seeks additional Rs 2.35 lakh crore
Finance minister Nirmala Sitharaman on Monday sought the Parliament nod for additional spending of Rs 2.35 lakh crore, which include cash outgo of Rs 1.66 lakh crore, primarily to meet expenses for combating the COVID-19 pandemic.
- Banks catalysts of economic revival: Nirmala Sitharaman
Finance minister Nirmala Sitharaman on Wednesday said banks are going to be the catalysts for economic revival. "At this stage, the catalysts for economic revival, the catalysts who have the pulse of every one of their customers, are banks," the finance minister said.
- Nirmala Sitharaman launches PSU banks’ doorstep service
Union finance and corporate affairs minister Nirmala Sitharaman on Wednesday launched the doorstep banking service of state-run banks, which is expected to benefit a large number of customers of these entities, including senior citizens and persons with disabilities.
- Importers to do due diligence for availing duty benefits under FTAs from September 21: Finance ministry
Importers will from Monday have to do their due diligence to ensure that imported goods meet the prescribed 'rules of origin' provisions for availing concessional rate of customs under free trade agreements (FTAs), the finance ministry said.
- Government releases Rs 6,195 crore grant to 14 states
The Centre has released Rs 6,195 crore to 14 states as monthly instalment of post devolution revenue deficit grant. Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal are the 14 states to whom the grant has been released.
- Lok Sabha passes legislation to bring cooperative banks under RBI's supervision
In a bid to protect the interest of depositors, the Lok Sabha on Wednesday passed an amendment to the Banking Regulation Act to bring cooperative banks under the supervision of the Reserve Bank of India (RBI). The Banking Regulation (Amendment) Bill, 2020 replaces an ordinance that was promulgated on June 26.