Union Finance Minister Nirmala Sitharaman on Monday said the cost of insurance to the policy holder is expected to come down if the GST Council recommends a reduction in GST rate on health and life insurance policies.
Delhi Lieutenant Governor VK Saxena has written to Union Finance Minister Nirmala Sitharaman regarding a proposal where vehicles with a history of violations, including speeding, reckless driving, or other traffic offences, would be required to pay higher insurance premiums.
NPS Vatsalya is a pension scheme designed for minors. This initiative was rolled out across 75 locations nationwide with over 250 PRANs (permanent retirement account numbers) being allocated to young subscribers.
The Congress president alleged that the BJP-led government at the Centre is only committed to benefiting Prime Minister Narendra Modi’s “crony friends”.
At a meeting conducted to review the performance of Public Sector Banks (PSBs) on Monday, Finance Minister Nirmala Sitharaman discussed a range of issues including financial parameters, deposit mobilisation, digital payments and cyber security framework.
The finance minister gave a keynote address and handed over degrees to students at the 11th convocation ceremony of the Indian Institute of Science Education and Research (IISER) at Bhopal today.
The proposed amendments will affect the Reserve Bank of India Act, the Banking Regulation Act, and the State Bank of India Act, among others.
Finance Minister Nirmala Sitharaman said the indexation provision was not brought for revenue considerations but for simplification of the system only. The government had yielded to public requests on the issue, she said.
Can only say the intention is to make the tax regime simpler, she said. "Can't say if there will be a sunset on the old regime."
Presenting the Union Budget 2024, Sitharaman said, “To provide relief to cancer patients, I propose to fully exempt three more medicines from customs duties.”
