Union Finance Minister Nirmala Sitharaman on Saturday announced that the Goods and Services Tax Council has approved the reduction of GST on rice kernels to 5 per cent, exempted life-saving gene therapy from tax, and extended the GST exemption for parts used in manufacturing (SAM).
With an aim to evaluate key financial metrics, Finance Minister Nirmala Sitharaman is set to convene a crucial review meeting to assess the performance of Public Sector Banks (PSBs) and Regional Rural Banks (RRBs).
With a Central outlay of Rs. two lakh crore the package is aims to benefit 4.1 crore youth over five years.
Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 in Parliament today
Union Finance Minister Nirmala Sitharaman will table the Economic Survey 2023-24 along with a statistical appendix in Parliament on Monday, a day ahead of the Union Budget.
In August, Sitharaman had announced the first set of such measures. This is the next round of sector specific initiatives.
The Finance Minister has been meeting industry captains and economists across the nation to take a closer look at the economic situation.
Consumption will increase when the government starts spending on infrastructure, according to the minister. The task force is in the process of identifying the infrastructure projects that are to be funded, as well as expedited.
The task force will comprise secretaries from different ministries, other senior officials and Niti Aayog CEO. It will identify technically feasible and financially or economically viable infrastructure projects that can be initiated in FY2019-20. This also lists the projects that can be included in the pipeline for each of the remaining five years between FY2021-25.
The bank has received a communication from the Ministry of Finance that the Alternative Mechanism (AM), after consultation with Reserve Bank of India (RBI), has decided that Punjab National Bank, Oriental Bank of Commerce (OBC) and United Bank of India may consider amalgamation, it said in a regulatory filing.
