<p>Fugitive businessman&nbsp;Vijay Mallya&nbsp;claimed on Wednesday (Dec 18) that more than double the amount that Kingfisher was owing in the case involving its airlines has been recovered by the banks.&nbsp;</p>

<p>Mallya claimed that he was entitled to relief a day after India's Finance Minister&nbsp;Nirmala Sitharaman&nbsp;informed the Parliament that Rs 141.31 billion (Rs&nbsp;14131.6 crore) was recovered from Mallya by the banks.&nbsp;</p>

<p>The recovery was made in the Kingfisher Airlines debt, which was estimated to be Rs 62.03 billion by a tribunal.</p>

<p>Taking to X, Mallya said, "The Debt Recovery Tribunal adjudged the KFA (Kingfisher Airlines) debt at Rs 6203 crores, including Rs 1200 crores of interest. The FM announced in Parliament that through the ED, Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6203 crores, and I am still an&nbsp;economic offender. Unless the ED and Banks can legally justify how they have taken more than two times the debt, I am entitled to the relief which I will pursue."</p>

<p>"Whatever I have stated about my liabilities as guarantor of KFA loans is legally verifiable. Yet more than Rs 8000 crores have been recovered from me over and above the judgment debt. Will anyone, including those who freely abuse me, stand up and question this blatant injustice? To be seen to support a much maligned me requires guts. Sadly no guts for justice particularly for me," he added.</p>

<p><strong>Also Read:&nbsp;</strong><a href="https://www.wionews.com/india-news/vijay-mallya-nirav-modi-mehul-choksi-major-asset-recovery-nirmala-sitharaman-praises-eds-efforts-784910">Sitharaman lauds ED’s efforts in recovering assets from Vijay Mallya, Nirav Modi, Mehul Choksi</a></p>

<p>"Government and my many critics say that I have CBI criminal cases to answer. What criminal cases are filed by CBI? Never borrowed a single rupee, never stole, but as guarantor of KFA debt, I am accused by CBI together with many others including IDBI Bank officials of fraudulently obtaining a Rs 900 crore loan from IDBI Bank duly approved by their credit committee and Board. Full loan and interest repaid. After 9 years why no conclusive evidence of fraud and misuse of funds ?" said Mallya in another post.</p>

<h2><strong>Here's what Sitharaman said</strong></h2>

<p>Speaking in Parliament, FM Sitharaman spoke about various cases in which&nbsp;assets linked to economic offences were recovered by the Enforcement Directorate (ED).&nbsp;</p>

<p>The cases mentioned involved Nirav Modi, Mehul Choksi, Vijay Mallya, and the National Spot Exchange Ltd scam. The minister said that the government has been pursuing those who allegedly committed economic offences.</p>

<p><strong>Watch:&nbsp;India Pushes UK for Extradition of Vijay Mallya and Nirav Modi on G20 Sidelines</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-pushes-uk-for-extradition-of-vijay-mallya-and-nirav-modi-on-g20-sidelines-777377/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>FM Sitharaman said that they have restored property worth&nbsp;Rs 141.316 billion, which belonged to Mallya.&nbsp;</p>

<p>"It is important to recognise that we have not left anybody in economic offences; we are after them. We will ensure that money that has to go to the banks goes back," she said.</p>

<p><em>(With inputs from agencies)</em></p>


Fugitive businessman Vijay Mallya claimed on Wednesday (Dec 18) that more than double the amount that Kingfisher was owing in the case involving its airlines has been recovered by the banks.

Fugitive businessman Vijay Mallya claimed on Wednesday (Dec 18) that more than double the amount that Kingfisher was owing in the case involving its airlines has been recovered by the banks. Mallya claimed that he was entitled to relief a day after India's Finance Minister Nirmala Sitharaman informed the Parliament that Rs 141.31 billion (Rs 14131.6 crore) was recovered from Mallya by the banks. The recovery was made in the Kingfisher Airlines debt, which was estimated to be Rs 62.03 billion by a tribunal. Taking to X, Mallya said, "The Debt Recovery Tribunal adjudged the KFA (Kingfisher Airlines) debt at Rs 6203 crores, including Rs 1200 crores of interest. The FM announced in Parliament that through the ED, Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6203 crores, and I am still an economic offender. Unless the ED and Banks can legally justify how they have taken more than two times the debt, I am entitled to the relief which I will pursue." "Whatever I have stated about my liabilities as guarantor of KFA loans is legally verifiable. Yet more than Rs 8000 crores have been recovered from me over and above the judgment debt. Will anyone, including those who freely abuse me, stand up and question this blatant injustice? To be seen to support a much maligned me requires guts. Sadly no guts for justice particularly for me," he added. Also Read: Sitharaman lauds ED’s efforts in recovering assets from Vijay Mallya, Nirav Modi, Mehul Choksi "Government and my many critics say that I have CBI criminal cases to answer. What criminal cases are filed by CBI? Never borrowed a single rupee, never stole, but as guarantor of KFA debt, I am accused by CBI together with many others including IDBI Bank officials of fraudulently obtaining a Rs 900 crore loan from IDBI Bank duly approved by their credit committee and Board. Full loan and interest repaid. After 9 years why no conclusive evidence of fraud and misuse of funds ?" said Mallya in another post. Here's what Sitharaman said Speaking in Parliament, FM Sitharaman spoke about various cases in which assets linked to economic offences were recovered by the Enforcement Directorate (ED). The cases mentioned involved Nirav Modi, Mehul Choksi, Vijay Mallya, and the National Spot Exchange Ltd scam. The minister said that the government has been pursuing those who allegedly committed economic offences. Watch: India Pushes UK for Extradition of Vijay Mallya and Nirav Modi on G20 Sidelines FM Sitharaman said that they have restored property worth Rs 141.316 billion, which belonged to Mallya. "It is important to recognise that we have not left anybody in economic offences; we are after them. We will ensure that money that has to go to the banks goes back," she said. (With inputs from agencies)

Vijay Mallya says he paid double of his debt amount, claims 'entitled to relief'

<p><span class="region">New Delhi, India </span>
<p><meta charset="utf-8"/><meta content="uuidy3dPBhQgTxZg" name="uuid"/></p></p>
<p>Indian finance minister Sitharaman said that the total assets worth Rs 22,280 crore have been recovered and returned by the Enforcement Directorate (ED) to public and private banks and deceived investors. This shows the determination of the government in tackling financial crimes and misdirected money.</p>
<p>In Lok Sabha's discussion over Supplementary Demands for Grants, Sitharaman called up the ED's work opening, blaming no one and saying, “We haven’t spared anyone, even those who fled the country. The ED has worked to ensure that money rightfully belonging to banks and investors is recovered and returned.”</p>
<h2><strong>Major asset recoveries by the ED</strong></h2>
<p>Among the high-profile cases, the ED has seized assets worth:</p>
<p>&gt;Rs 14,131.6 crore from the fugitive businessman Vijay Mallya, which has been returned to the public sector banks.</p>
<p>&gt;Rs 1,052.58 crore from Nirav Modi, which was given to public and private banks.</p>
<p>&gt;Rs. 2,565.90 crore from Mehul Choksi, plans to auction these assets. </p>
<p>&gt;In addition, assets of Rs 17.47 crore recovered from the NSEL scam have been returned to defrauded investors.</p>
<p>Sitharaman, giving the last word on the government's position, said, “We are after them. We will ensure that stolen assets are recovered and returned to their rightful owners, including banks and investors.”</p>
<h2><strong>Impact of the black money act</strong></h2>
<p>The Black Money Act passed in 2015 proved very effective in discovering undisclosed wealth. Sitharaman stressed a phenomenal increase in voluntary declaration of foreign assets by taxpayers from 60,467 in 2021-22 to more than 2 lakh in 2024-25. </p>
<p>Under this act:</p>
<p>&gt;Demands worth Rs 17,520 crore have been raised in 697 cases.</p>
<p>&gt;163 prosecutions have been initiated against offenders.</p>
<p>Furthermore, the act has led to the detection of undisclosed income of Rs 33,393 crore across 582 cases.</p>
<h3>High-profile investigations underway</h3>
<p>The government looks ahead to such cases pertaining to global leaks such as the Panama Papers, Pandora Papers, HSBC, and ICIJ leaks. In order to fast-track these investigations, the MAG, or multi-agency group, has the government looking forward to cases related to global leaks such as the Panama Papers, Pandora Papers, HSBC, and ICIJ leaks. To fast-track these investigations, the MAG, or Multi-Agency Group, has been set up to ensure coordinated action by various enforcement bodies.</p>
<p>Until today, 120 cases related to foreign assets remain under active scrutiny.</p>
<p>More than Rs 22,000 crore of recovery registers on behalf of ED, which is a great consolation and a significant realization of the efficiency with which this agency has been tackling economic offences and returning wealth to the Indian economy.</p>
<p>(<em>With inputs from agencies</em>)</p>


The ED has recovered significant assets from high-profile fugitives, including Rs 14,131.6 crore from Vijay Mallya returned to public sector banks, Rs 1,052.58 crore from Nirav Modi given back to banks, and Rs 2,565.90 crore from Mehul Choksi, with plans to auction these assets.



New Delhi, India Indian finance minister Sitharaman said that the total assets worth Rs 22,280 crore have been recovered and returned by the Enforcement Directorate (ED) to public and private banks and deceived investors. This shows the determination of the government in tackling financial crimes and misdirected money. In Lok Sabha's discussion over Supplementary Demands for Grants, Sitharaman called up the ED's work opening, blaming no one and saying, “We haven’t spared anyone, even those who fled the country. The ED has worked to ensure that money rightfully belonging to banks and investors is recovered and returned.” Major asset recoveries by the ED Among the high-profile cases, the ED has seized assets worth: >Rs 14,131.6 crore from the fugitive businessman Vijay Mallya, which has been returned to the public sector banks. >Rs 1,052.58 crore from Nirav Modi, which was given to public and private banks. >Rs. 2,565.90 crore from Mehul Choksi, plans to auction these assets. >In addition, assets of Rs 17.47 crore recovered from the NSEL scam have been returned to defrauded investors. Sitharaman, giving the last word on the government's position, said, “We are after them. We will ensure that stolen assets are recovered and returned to their rightful owners, including banks and investors.” Impact of the black money act The Black Money Act passed in 2015 proved very effective in discovering undisclosed wealth. Sitharaman stressed a phenomenal increase in voluntary declaration of foreign assets by taxpayers from 60,467 in 2021-22 to more than 2 lakh in 2024-25. Under this act: >Demands worth Rs 17,520 crore have been raised in 697 cases. >163 prosecutions have been initiated against offenders. Furthermore, the act has led to the detection of undisclosed income of Rs 33,393 crore across 582 cases. High-profile investigations underway The government looks ahead to such cases pertaining to global leaks such as the Panama Papers, Pandora Papers, HSBC, and ICIJ leaks. In order to fast-track these investigations, the MAG, or multi-agency group, has the government looking forward to cases related to global leaks such as the Panama Papers, Pandora Papers, HSBC, and ICIJ leaks. To fast-track these investigations, the MAG, or Multi-Agency Group, has been set up to ensure coordinated action by various enforcement bodies. Until today, 120 cases related to foreign assets remain under active scrutiny. More than Rs 22,000 crore of recovery registers on behalf of ED, which is a great consolation and a significant realization of the efficiency with which this agency has been tackling economic offences and returning wealth to the Indian economy. (With inputs from agencies)

Sitharaman lauds ED’s efforts in recovering assets from Vijay Mallya, Nirav Modi, Mehul Choksi

<p><meta charset="utf-8" /><meta name="uuid" content="uuidy3dPBhQgTxZg" /></p>

<p>Indian finance minister Sitharaman said that the total assets worth Rs 22,280 crore have been recovered and returned by the Enforcement Directorate (ED) to public and private banks and deceived investors. This shows the determination of the government in tackling financial crimes and misdirected money.</p>

<p>In Lok Sabha's discussion over Supplementary Demands for Grants, Sitharaman called up the ED's work opening, blaming no one and saying, “We haven’t spared anyone, even those who fled the country. The ED has worked to ensure that money rightfully belonging to banks and investors is recovered and returned.”</p>

<h2><strong>Major asset recoveries by the ED</strong></h2>

<p>Among the high-profile cases, the ED has seized assets worth:</p>

<p>&gt;Rs 14,131.6 crore from the fugitive businessman Vijay Mallya, which has been returned to the public sector banks.</p>

<p>&gt;Rs 1,052.58 crore from Nirav Modi, which was given to public and private banks.</p>

<p>&gt;Rs. 2,565.90 crore from Mehul Choksi, plans to auction these assets.&nbsp;</p>

<p>&gt;In addition, assets of Rs 17.47 crore recovered from the NSEL scam have been returned to defrauded investors.</p>

<p>Sitharaman, giving the last word on the government's position, said, “We are after them. We will ensure that stolen assets are recovered and returned to their rightful owners, including banks and investors.”</p>

<h2><strong>Impact of the black money act</strong></h2>

<p>The Black Money Act passed in 2015 proved very effective in discovering undisclosed wealth. Sitharaman stressed a phenomenal increase in voluntary declaration of foreign assets by taxpayers from 60,467 in 2021-22 to more than 2 lakh in 2024-25.&nbsp;</p>

<p>Under this act:</p>

<p>&gt;Demands worth Rs 17,520 crore have been raised in 697 cases.</p>

<p>&gt;163 prosecutions have been initiated against offenders.</p>

<p>Furthermore, the act has led to the detection of undisclosed income of Rs 33,393 crore across 582 cases.</p>

<h3>High-profile investigations underway</h3>

<p>The government looks ahead to such cases pertaining to global leaks such as the Panama Papers, Pandora Papers, HSBC, and ICIJ leaks. In order to fast-track these investigations, the MAG, or multi-agency group, has the government looking forward to cases related to global leaks such as the Panama Papers, Pandora Papers, HSBC, and ICIJ leaks. To fast-track these investigations, the MAG, or Multi-Agency Group, has been set up to ensure coordinated action by various enforcement bodies.</p>

<p>Until today, 120 cases related to foreign assets remain under active scrutiny.</p>

<p>More than Rs 22,000 crore of recovery registers on behalf of ED, which is a great consolation and a significant realization of the efficiency with which this agency has been tackling economic offences and returning wealth to the Indian economy.</p>

<p>(<em>With inputs from agencies</em>)</p>


Indian finance minister Sitharaman said that the total assets worth Rs 22,280 crore have been recovered and returned by the Enforcement Directorate (ED) to public and private banks and deceived investors.

Indian finance minister Sitharaman said that the total assets worth Rs 22,280 crore have been recovered and returned by the Enforcement Directorate (ED) to public and private banks and deceived investors. This shows the determination of the government in tackling financial crimes and misdirected money. In Lok Sabha's discussion over Supplementary Demands for Grants, Sitharaman called up the ED's work opening, blaming no one and saying, “We haven’t spared anyone, even those who fled the country. The ED has worked to ensure that money rightfully belonging to banks and investors is recovered and returned.” Major asset recoveries by the ED Among the high-profile cases, the ED has seized assets worth: >Rs 14,131.6 crore from the fugitive businessman Vijay Mallya, which has been returned to the public sector banks. >Rs 1,052.58 crore from Nirav Modi, which was given to public and private banks. >Rs. 2,565.90 crore from Mehul Choksi, plans to auction these assets. >In addition, assets of Rs 17.47 crore recovered from the NSEL scam have been returned to defrauded investors. Sitharaman, giving the last word on the government's position, said, “We are after them. We will ensure that stolen assets are recovered and returned to their rightful owners, including banks and investors.” Impact of the black money act The Black Money Act passed in 2015 proved very effective in discovering undisclosed wealth. Sitharaman stressed a phenomenal increase in voluntary declaration of foreign assets by taxpayers from 60,467 in 2021-22 to more than 2 lakh in 2024-25. Under this act: >Demands worth Rs 17,520 crore have been raised in 697 cases. >163 prosecutions have been initiated against offenders. Furthermore, the act has led to the detection of undisclosed income of Rs 33,393 crore across 582 cases. High-profile investigations underway The government looks ahead to such cases pertaining to global leaks such as the Panama Papers, Pandora Papers, HSBC, and ICIJ leaks. In order to fast-track these investigations, the MAG, or multi-agency group, has the government looking forward to cases related to global leaks such as the Panama Papers, Pandora Papers, HSBC, and ICIJ leaks. To fast-track these investigations, the MAG, or Multi-Agency Group, has been set up to ensure coordinated action by various enforcement bodies. Until today, 120 cases related to foreign assets remain under active scrutiny. More than Rs 22,000 crore of recovery registers on behalf of ED, which is a great consolation and a significant realization of the efficiency with which this agency has been tackling economic offences and returning wealth to the Indian economy. (With inputs from agencies)

<p>Sri Lankan President Anura Kumara Dissanayake met Finance Minister Nirmala Sitharaman on Sunday and held talks on strengthening economic cooperation between the two nations.</p>

<p>Dissanayake said that they discussed strengthening Indo-Sri Lanka economic cooperation, enhancing investment opportunities and fostering regional security.</p>

<p>In a post on X, Dissanayake said, "During my official visit to India, I had the privilege of engaging in productive discussions with Finance Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar, and National Security Advisor Shri Ajit Doval. Our conversations focused on strengthening Indo-Sri Lanka economic cooperation, enhancing investment opportunities, fostering regional security, and advancing key sectors such as tourism and energy. These engagements reaffirm the commitment to deepening the partnership between our two nations."</p>

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">During my official visit to India, I had the privilege of engaging in productive discussions with Finance Minister <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a>, External Affairs Minister <a href="https://twitter.com/DrSJaishankar?ref_src=twsrc%5Etfw">@DrSJaishankar</a>, and National Security Advisor Shri Ajit Doval. Our conversations focused on strengthening Indo-Sri Lanka… <a href="https://t.co/A5mkZ4TS1D">pic.twitter.com/A5mkZ4TS1D</a></p>
— Anura Kumara Dissanayake (@anuradisanayake) <a href="https://twitter.com/anuradisanayake/status/1868346547852972076?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote>
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<p>Earlier on Sunday, Dissanayake also met External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval.<br />
Jaishankar, during his meeting with Sri Lankan President Anura Kumara Dissanayake on Sunday, highlighted the island nation's prominent role in India's Neighborhood First policy and SAGAR Outlook.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/south-asia/sri-lankan-president-dissanayake-to-begin-india-visit-from-dec-15-782944">Sri Lankan President Dissanayake to begin India visit from Dec 15</a></strong></p>

<p>He further affirmed confidence that President Dissanayake's talks with Prime Minister Modi today will lead to greater cooperation between New Delhi and Colombo.</p>

<p>"Pleased to call on President Anura Kumara Disanayake at the start of his first State Visit to India. Sri Lanka is key to both India's Neighborhood First policy and SAGAR Outlook. Confident that the talks with PM Narendra Modi tomorrow will lead to greater trust and deeper cooperation," the EAM stated in a post on X.</p>

<p>Dissanayake said he held "fruitful discussions on the matters of mutual interest" during his meetings with EAM Jaishankar and National Security Advisor Ajit Doval.</p>

<p>Earlier in the day, the Sri Lankan President was received by Union Minister of State for Information and Broadcasting L Murugan in Delhi.</p>

<p>This is the first bilateral visit of Dissanayake to India after assuming office in September.</p>

<p>The Sri Lankan President is on a day State visit to India from December 15 to December 17. Dissanayake will meet President Droupadi Murmu and Prime Minister Narendra Modi during his visit.</p>

<p><em>Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience.</em><br />
&nbsp;</p>


Sri Lankan President Anura Kumara Dissanayake met Finance Minister Nirmala Sitharaman on Sunday and held talks on strengthening economic cooperation between the two nations.

Sri Lankan President Anura Kumara Dissanayake met Finance Minister Nirmala Sitharaman on Sunday and held talks on strengthening economic cooperation between the two nations. Dissanayake said that they discussed strengthening Indo-Sri Lanka economic cooperation, enhancing investment opportunities and fostering regional security. In a post on X, Dissanayake said, "During my official visit to India, I had the privilege of engaging in productive discussions with Finance Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar, and National Security Advisor Shri Ajit Doval. Our conversations focused on strengthening Indo-Sri Lanka economic cooperation, enhancing investment opportunities, fostering regional security, and advancing key sectors such as tourism and energy. These engagements reaffirm the commitment to deepening the partnership between our two nations." During my official visit to India, I had the privilege of engaging in productive discussions with Finance Minister @nsitharaman, External Affairs Minister @DrSJaishankar, and National Security Advisor Shri Ajit Doval. Our conversations focused on strengthening Indo-Sri Lanka… pic.twitter.com/A5mkZ4TS1D — Anura Kumara Dissanayake (@anuradisanayake) December 15, 2024 × Earlier on Sunday, Dissanayake also met External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval. Jaishankar, during his meeting with Sri Lankan President Anura Kumara Dissanayake on Sunday, highlighted the island nation's prominent role in India's Neighborhood First policy and SAGAR Outlook. Also read | Sri Lankan President Dissanayake to begin India visit from Dec 15 He further affirmed confidence that President Dissanayake's talks with Prime Minister Modi today will lead to greater cooperation between New Delhi and Colombo. "Pleased to call on President Anura Kumara Disanayake at the start of his first State Visit to India. Sri Lanka is key to both India's Neighborhood First policy and SAGAR Outlook. Confident that the talks with PM Narendra Modi tomorrow will lead to greater trust and deeper cooperation," the EAM stated in a post on X. Dissanayake said he held "fruitful discussions on the matters of mutual interest" during his meetings with EAM Jaishankar and National Security Advisor Ajit Doval. Earlier in the day, the Sri Lankan President was received by Union Minister of State for Information and Broadcasting L Murugan in Delhi. This is the first bilateral visit of Dissanayake to India after assuming office in September. The Sri Lankan President is on a day State visit to India from December 15 to December 17. Dissanayake will meet President Droupadi Murmu and Prime Minister Narendra Modi during his visit. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Sri Lankan President Dissanayake holds 'fruitful discussions' with Indian leaders

<p><span class="region">New Delhi, India</span>
<p>Sri Lankan President Anura Kumara Dissanayake met Finance Minister Nirmala Sitharaman on Sunday and held talks on strengthening economic cooperation between the two nations.</p></p>
<p>Dissanayake said that they discussed strengthening Indo-Sri Lanka economic cooperation, enhancing investment opportunities and fostering regional security.</p>
<p>In a post on X, Dissanayake said, "During my official visit to India, I had the privilege of engaging in productive discussions with Finance Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar, and National Security Advisor Shri Ajit Doval. Our conversations focused on strengthening Indo-Sri Lanka economic cooperation, enhancing investment opportunities, fostering regional security, and advancing key sectors such as tourism and energy. These engagements reaffirm the commitment to deepening the partnership between our two nations."</p>
<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">During my official visit to India, I had the privilege of engaging in productive discussions with Finance Minister <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a>, External Affairs Minister <a href="https://twitter.com/DrSJaishankar?ref_src=twsrc%5Etfw">@DrSJaishankar</a>, and National Security Advisor Shri Ajit Doval. Our conversations focused on strengthening Indo-Sri Lanka… <a href="https://t.co/A5mkZ4TS1D">pic.twitter.com/A5mkZ4TS1D</a></p>
<p>— Anura Kumara Dissanayake (@anuradisanayake) <a href="https://twitter.com/anuradisanayake/status/1868346547852972076?ref_src=twsrc%5Etfw">December 15, 2024</a></p></blockquote>
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<p>Earlier on Sunday, Dissanayake also met External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval.</p>
<p>Jaishankar, during his meeting with Sri Lankan President Anura Kumara Dissanayake on Sunday, highlighted the island nation's prominent role in India's Neighborhood First policy and SAGAR Outlook.</p>
<p><strong>Also read | <a href="https://www.wionews.com/south-asia/sri-lankan-president-dissanayake-to-begin-india-visit-from-dec-15-782944">Sri Lankan President Dissanayake to begin India visit from Dec 15</a></strong></p>
<p>He further affirmed confidence that President Dissanayake's talks with Prime Minister Modi today will lead to greater cooperation between New Delhi and Colombo.</p>
<p>"Pleased to call on President Anura Kumara Disanayake at the start of his first State Visit to India. Sri Lanka is key to both India's Neighborhood First policy and SAGAR Outlook. Confident that the talks with PM Narendra Modi tomorrow will lead to greater trust and deeper cooperation," the EAM stated in a post on X.</p>
<p>Dissanayake said he held "fruitful discussions on the matters of mutual interest" during his meetings with EAM Jaishankar and National Security Advisor Ajit Doval.</p>
<p>Earlier in the day, the Sri Lankan President was received by Union Minister of State for Information and Broadcasting L Murugan in Delhi.</p>
<p>This is the first bilateral visit of Dissanayake to India after assuming office in September.</p>
<p>The Sri Lankan President is on a day State visit to India from December 15 to December 17. Dissanayake will meet President Droupadi Murmu and Prime Minister Narendra Modi during his visit.</p>
<p><em>Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.</em></p>


Dissanayake said that they discussed strengthening Indo-Sri Lanka economic cooperation, enhancing investment opportunities and fostering regional security



New Delhi, India Sri Lankan President Anura Kumara Dissanayake met Finance Minister Nirmala Sitharaman on Sunday and held talks on strengthening economic cooperation between the two nations. Dissanayake said that they discussed strengthening Indo-Sri Lanka economic cooperation, enhancing investment opportunities and fostering regional security. In a post on X, Dissanayake said, "During my official visit to India, I had the privilege of engaging in productive discussions with Finance Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar, and National Security Advisor Shri Ajit Doval. Our conversations focused on strengthening Indo-Sri Lanka economic cooperation, enhancing investment opportunities, fostering regional security, and advancing key sectors such as tourism and energy. These engagements reaffirm the commitment to deepening the partnership between our two nations." During my official visit to India, I had the privilege of engaging in productive discussions with Finance Minister @nsitharaman, External Affairs Minister @DrSJaishankar, and National Security Advisor Shri Ajit Doval. Our conversations focused on strengthening Indo-Sri Lanka… pic.twitter.com/A5mkZ4TS1D — Anura Kumara Dissanayake (@anuradisanayake) December 15, 2024 × Earlier on Sunday, Dissanayake also met External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval. Jaishankar, during his meeting with Sri Lankan President Anura Kumara Dissanayake on Sunday, highlighted the island nation's prominent role in India's Neighborhood First policy and SAGAR Outlook. Also read | Sri Lankan President Dissanayake to begin India visit from Dec 15 He further affirmed confidence that President Dissanayake's talks with Prime Minister Modi today will lead to greater cooperation between New Delhi and Colombo. "Pleased to call on President Anura Kumara Disanayake at the start of his first State Visit to India. Sri Lanka is key to both India's Neighborhood First policy and SAGAR Outlook. Confident that the talks with PM Narendra Modi tomorrow will lead to greater trust and deeper cooperation," the EAM stated in a post on X. Dissanayake said he held "fruitful discussions on the matters of mutual interest" during his meetings with EAM Jaishankar and National Security Advisor Ajit Doval. Earlier in the day, the Sri Lankan President was received by Union Minister of State for Information and Broadcasting L Murugan in Delhi. This is the first bilateral visit of Dissanayake to India after assuming office in September. The Sri Lankan President is on a day State visit to India from December 15 to December 17. Dissanayake will meet President Droupadi Murmu and Prime Minister Narendra Modi during his visit. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

India's finance minister, Nirmala Sitharaman, called for lower interest rates and downplayed any dangers to economic growth. The reserve bank of India has kept rates unchanged for over two years.

India Finance Minister Says Bank Rates Should Be More Affordable

<p>India's finance minister, Nirmala Sitharaman, called for lower interest rates and downplayed any dangers to economic growth.</p>

<p>The Reserve Bank of India has kept rates unchanged for over two years.</p>

<p>Sitharaman follows trade minister Piyush Goyal, who last week argued for a cut in interest rates, stating that economic growth required further stimulus.</p>

<p>The RBI governor, Shaktikanta Das, chose not to address Goyal's comments after the central bank kept rates steady for the tenth straight meeting in October.<br />
According to Das, a rate cut right now would be "Very risky."</p>

<p>The governor added that easing will only be considered if inflation reaches the central bank's target of 4 per cent.</p>

<p>The RBI's next policy decision is scheduled for December 6th.</p>

<p>Speaking at an event, Sitharaman said, given India's growth requirements, there are "Many different voices saying the cost of borrowing is really very stressful." She added, "Bank interest rates will have to be far more affordable."</p>

<p>For the current fiscal year, which ends in March 2025, the RBI projects growth of 7.2 per cent.</p>

<p>However, some analysts, notably those at investment banks like Goldman Sachs, have projected growth as low as 6.5 per cent.</p>

<p>Worries that consumers are cutting back on spending are fuelled by the lacklustre sales of all goods, from soaps to vehicles.</p>

<p>However, downplaying the growth risks, Sitharaman said the government is keeping a careful eye on the economy and is ready to take "All necessary measures" to increase economic activity.</p>

<p>She said, "Let me assure you the government is fully aware of the challenges posed by both domestic and global factors." The finance minister, citing strong economic fundamentals added, "There is no cause for undue concern."</p>


India's finance minister, Nirmala Sitharaman, called for lower interest rates and downplayed any dangers to economic growth. The Reserve Bank of India has kept rates unchanged for over two years.

India's finance minister, Nirmala Sitharaman, called for lower interest rates and downplayed any dangers to economic growth. The Reserve Bank of India has kept rates unchanged for over two years. Sitharaman follows trade minister Piyush Goyal, who last week argued for a cut in interest rates, stating that economic growth required further stimulus. The RBI governor, Shaktikanta Das, chose not to address Goyal's comments after the central bank kept rates steady for the tenth straight meeting in October. According to Das, a rate cut right now would be "Very risky." The governor added that easing will only be considered if inflation reaches the central bank's target of 4 per cent. The RBI's next policy decision is scheduled for December 6th. Speaking at an event, Sitharaman said, given India's growth requirements, there are "Many different voices saying the cost of borrowing is really very stressful." She added, "Bank interest rates will have to be far more affordable." For the current fiscal year, which ends in March 2025, the RBI projects growth of 7.2 per cent. However, some analysts, notably those at investment banks like Goldman Sachs, have projected growth as low as 6.5 per cent. Worries that consumers are cutting back on spending are fuelled by the lacklustre sales of all goods, from soaps to vehicles. However, downplaying the growth risks, Sitharaman said the government is keeping a careful eye on the economy and is ready to take "All necessary measures" to increase economic activity. She said, "Let me assure you the government is fully aware of the challenges posed by both domestic and global factors." The finance minister, citing strong economic fundamentals added, "There is no cause for undue concern."

India's Finance Minister Nirmala Sitharaman calls for lower interest rates

Nirmala Sitharaman’s views on India's economic outlook differ from the RBI’s stance on interest rates, highlighting a divergence in policy approaches.

Nirmala Sitharaman's Views Contrast With RBI's Rate Path Outlook

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<p>India's Finance Minister Nirmala Sitharaman responded to a request from a social media user who requested to ensure relief to the middle class.</p>

<p>The request was made by the user while replying to the minister's online post.</p>

<p>Sharing the user's post, Minister Sitharaman said that his inputs were valuable and the government has been looking into the voices of the people.</p>

<h2><strong>Here's what the social media user wrote on X</strong></h2>

<p>Taking to X, social media user Tushar Sharma said that he has an understanding of the challenges involved, however, it is his "heartfelt request" to the minister to provide some relief to the middle class.</p>

<p><strong>Also Read: </strong><a href="https://www.wionews.com/business-economy/india-likely-to-be-worlds-3rd-largest-economy-by-2027-fm-nirmala-sitharaman-769743">India likely to be world's 3rd-largest economy by 2027: FM Nirmala Sitharaman</a></p>

<p>“We deeply appreciate your efforts and contributions to the country, and you have our utmost admiration. I humbly request you to consider providing some relief for the middle class. I understand the immense challenges involved, but it’s just a heartfelt request," wrote X user Sharma.</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Thank you for your kind words and your understanding. I recognise and appreciate your concern.<br />
PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> ‘s government is a responsive government. Listens and attends to people’s voices. Thanks once again for your understanding. Your input is valuable. <a href="https://t.co/0C2wzaQtYx">https://t.co/0C2wzaQtYx</a></p>
— Nirmala Sitharaman (@nsitharaman) <a href="https://twitter.com/nsitharaman/status/1857993318946508969?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>Replying to the post, FM Sitharaman appreciated the user's input and said that the government has been listening to the feedback of the people.</p>

<p>“Thank you for your kind words and your understanding. I recognise and appreciate your concern. PM @narendramodi’s government is a responsive government. Listens and attends to people’s voices. Thanks once again for your understanding. Your input is valuable," Sitharaman replied.</p>

<p><strong>Watch:&nbsp;Nirmala Sitharaman Warns Of Skills Gap Threatening India's Growth</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/nirmala-sitharaman-warns-of-skills-gap-threatening-indias-growth-770095/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>The request was made by the user amid rising inflation, which has become a huge concern for the Indian middle class.</p>

<p>Last month, retail inflation stood at 6.21 per cent in the country, breaching the upper tolerance level of the Reserve Bank of India.</p>

<p>National Statistics Office data said that food inflation stood at 10.87 per cent last month in comparison to 9.24 per cent in September.</p>

<p><em>(With inputs from agencies)</em></p>


India's Finance Minister Nirmala Sitharaman responded to a request from a social media user who requested to ensure relief to the middle class. The request was made by the user while replying to the minister's online post.

India's Finance Minister Nirmala Sitharaman responded to a request from a social media user who requested to ensure relief to the middle class. The request was made by the user while replying to the minister's online post. Sharing the user's post, Minister Sitharaman said that his inputs were valuable and the government has been looking into the voices of the people. Here's what the social media user wrote on X Taking to X, social media user Tushar Sharma said that he has an understanding of the challenges involved, however, it is his "heartfelt request" to the minister to provide some relief to the middle class. Also Read: India likely to be world's 3rd-largest economy by 2027: FM Nirmala Sitharaman “We deeply appreciate your efforts and contributions to the country, and you have our utmost admiration. I humbly request you to consider providing some relief for the middle class. I understand the immense challenges involved, but it’s just a heartfelt request," wrote X user Sharma. Thank you for your kind words and your understanding. I recognise and appreciate your concern. PM @narendramodi ‘s government is a responsive government. Listens and attends to people’s voices. Thanks once again for your understanding. Your input is valuable. https://t.co/0C2wzaQtYx — Nirmala Sitharaman (@nsitharaman) November 17, 2024 × Replying to the post, FM Sitharaman appreciated the user's input and said that the government has been listening to the feedback of the people. “Thank you for your kind words and your understanding. I recognise and appreciate your concern. PM @narendramodi’s government is a responsive government. Listens and attends to people’s voices. Thanks once again for your understanding. Your input is valuable," Sitharaman replied. Watch: Nirmala Sitharaman Warns Of Skills Gap Threatening India's Growth The request was made by the user amid rising inflation, which has become a huge concern for the Indian middle class. Last month, retail inflation stood at 6.21 per cent in the country, breaching the upper tolerance level of the Reserve Bank of India. National Statistics Office data said that food inflation stood at 10.87 per cent last month in comparison to 9.24 per cent in September. (With inputs from agencies)

FM Nirmala Sitharaman reacts to user on X seeking relief for middle class, says 'input is valuable'

<p class="MsoNormal"><span lang="EN-GB">Finance Minister of India (FM), Nirmala Sitharaman has called for deeper dialogue to help countries meet debt obligations without compromising critical investments at the Global Sovereign Debt Roundtable (GSDR), held on the sidelines of the World Bank and International Monetary Fund (IMF) Annual Meetings 2024 in Washington, DC as detailed in a report by the Business Standard.</span></p>

<p class="MsoNormal"><span lang="EN-GB">She also cautioned against contingency financing instruments stating that they can lead to deferred obligations, which may worsen future debt challenges.</span></p>

<p class="MsoNormal"><b style="mso-bidi-font-weight:normal"><span lang="EN-GB">What is GSDR?<o:p></o:p></span></b></p>

<p class="MsoNormal"><span lang="EN-GB">The objective of the Global Sovereign Debt Roundtable (GSDR) is to build greater common understanding among key stakeholders involved in debt restructurings, and work together on the current shortcomings in debt restructuring processes, both within and outside the Common Framework, and ways to address them.</span></p>

<p class="MsoNormal"><span lang="EN-GB">Further, the GSDR brings together debtor countries and creditors to foster a greater common understanding among key stakeholders on debt sustainability, debt restructuring challenges, and solutions to address these issues.</span></p>

<p class="MsoNormal"><b style="mso-bidi-font-weight:normal"><span lang="EN-GB">Details of the roundtable<o:p></o:p></span></b></p>

<p class="MsoNormal"><span lang="EN-GB">The roundtable is co-chaired by the International Monetary Fund (IMF), World Bank, and the Group of Twenty (G20) presidency which is currently held by Brazil and includes official bilateral creditors, private creditors, and borrowing countries. The goal of the meeting is to have elaborate discussions on debt.</span></p>

<p class="MsoNormal"><span lang="EN-GB">While participating in the fourth G20 Finance Ministers and Central Bank Governors meeting, the Finance Minister remarked that the reform agenda for multilateral development banks (MDBs) has progressed under recent presidencies.</span></p>

<p class="MsoNormal"><span lang="EN-GB">“The political momentum from this group is driving MDBs to pursue major reforms,” she stated, appreciating Brazil’s G20 presidency for building on the mandate from the Leaders’ Summit in Delhi.</span></p>

<p class="MsoNormal"><span lang="EN-GB">The FM emphasised that a pathway has been established to enable MDBs to effectively address global challenges and development financing requirements. “India looks forward to engaging with the South African presidency in advancing this agenda,” she added. The same was mentioned by the Finance Ministry, in asocial media platform X, “Under the #G20IndiaPresidency, the Union finance minister said that #MDBs were encouraged to evolve their vision, incentive structures, operational approaches, and financing capacities.”</span></p>

<p class="MsoNormal"><span lang="EN-GB">During the GSDR conversation, the FM also advocated using the roundtable’s informal platform to better understand the perspectives of all parties, address concerns, and provide informed guidance to countries on the risks and benefits of these instruments.</span></p>

<p class="MsoNormal"><span lang="EN-GB">She stressed the need for improving timeliness, transparency, and predictability while ensuring comparability of treatment among creditors. Sitharaman also highlighted the necessity of prioritising coordinated efforts to secure low-cost, long-term financing and targeted technical assistance to strengthen fiscal capacity and build resilience in vulnerable countries.</span></p>

<p class="MsoNormal"><span lang="EN-GB">Chairing a roundtable discussion on disaster-resilient infrastructure, she underlined the threat of climate-induced risks to infrastructure and the critical services it supports, warning that such risks could undercut development gains.</span></p>

<p class="MsoNormal"><span lang="EN-GB">Sitharaman said that India has achieved resilient economic growth over the years by investing not only in hard infrastructure but also in building institutional capacity through the establishment of national and state-level disaster management agencies.</span></p>

<p class="MsoNormal"><span lang="EN-GB">Extending assistance to the Global South on shared challenges, she said, “Under the G20 India presidency, a disaster risk reduction working group was created to increase commitment to disaster and climate-resilient infrastructure and to prioritise stronger national financial frameworks for disaster risk reduction.”</span></p>

<p class="MsoNormal"><span lang="EN-GB"><o:p>&nbsp;</o:p></span></p>


Finance Minister of India (FM), Nirmala Sitharaman has called for deeper dialogue to help countries meet debt obligations without compromising critical investments at the Global Sovereign Debt Roundtable (GSDR), held on the sidelines of the World Bank and International Monetary Fund (IMF) Annual Meetings 2024 in Washington, DC as detailed in a report by the Business Standard.

Finance Minister of India (FM), Nirmala Sitharaman has called for deeper dialogue to help countries meet debt obligations without compromising critical investments at the Global Sovereign Debt Roundtable (GSDR), held on the sidelines of the World Bank and International Monetary Fund (IMF) Annual Meetings 2024 in Washington, DC as detailed in a report by the Business Standard. She also cautioned against contingency financing instruments stating that they can lead to deferred obligations, which may worsen future debt challenges. What is GSDR? The objective of the Global Sovereign Debt Roundtable (GSDR) is to build greater common understanding among key stakeholders involved in debt restructurings, and work together on the current shortcomings in debt restructuring processes, both within and outside the Common Framework, and ways to address them. Further, the GSDR brings together debtor countries and creditors to foster a greater common understanding among key stakeholders on debt sustainability, debt restructuring challenges, and solutions to address these issues. Details of the roundtable The roundtable is co-chaired by the International Monetary Fund (IMF), World Bank, and the Group of Twenty (G20) presidency which is currently held by Brazil and includes official bilateral creditors, private creditors, and borrowing countries. The goal of the meeting is to have elaborate discussions on debt. While participating in the fourth G20 Finance Ministers and Central Bank Governors meeting, the Finance Minister remarked that the reform agenda for multilateral development banks (MDBs) has progressed under recent presidencies. “The political momentum from this group is driving MDBs to pursue major reforms,” she stated, appreciating Brazil’s G20 presidency for building on the mandate from the Leaders’ Summit in Delhi. The FM emphasised that a pathway has been established to enable MDBs to effectively address global challenges and development financing requirements. “India looks forward to engaging with the South African presidency in advancing this agenda,” she added. The same was mentioned by the Finance Ministry, in asocial media platform X, “Under the #G20IndiaPresidency, the Union finance minister said that #MDBs were encouraged to evolve their vision, incentive structures, operational approaches, and financing capacities.” During the GSDR conversation, the FM also advocated using the roundtable’s informal platform to better understand the perspectives of all parties, address concerns, and provide informed guidance to countries on the risks and benefits of these instruments. She stressed the need for improving timeliness, transparency, and predictability while ensuring comparability of treatment among creditors. Sitharaman also highlighted the necessity of prioritising coordinated efforts to secure low-cost, long-term financing and targeted technical assistance to strengthen fiscal capacity and build resilience in vulnerable countries. Chairing a roundtable discussion on disaster-resilient infrastructure, she underlined the threat of climate-induced risks to infrastructure and the critical services it supports, warning that such risks could undercut development gains. Sitharaman said that India has achieved resilient economic growth over the years by investing not only in hard infrastructure but also in building institutional capacity through the establishment of national and state-level disaster management agencies. Extending assistance to the Global South on shared challenges, she said, “Under the G20 India presidency, a disaster risk reduction working group was created to increase commitment to disaster and climate-resilient infrastructure and to prioritise stronger national financial frameworks for disaster risk reduction.”

FM Sitharaman pushes for comprehensive talks on global sovereign debt

India is facing a significant skills shortage as it attempts to capitalise on its demographic dividend. Finance minister Nirmala Sitharaman has highlighted the challenge of skilling the country’s young workforce, pointing out that graduates often lack the skills required by employers. Watch in for more details!

Nirmala Sitharaman Warns Of Skills Gap Threatening India's Growth

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<p>The Congress party slammed the BJP on Sunday (September 29) after a case was filed against Finance Minister Nirmala Sitharaman and others. The case is based on a complaint related to the now-cancelled electoral bonds scheme. Congress demanded Sitharaman’s resignation, accusing her of "undermining democracy."</p>

<h2><strong>'FM is 'guilty' politically, legally, and morally'</strong></h2>

<p>Speaking at a press conference, Congress General Secretary Jairam Ramesh, alongside spokesperson Abhishek Singhvi, said that the government used four different methods to extort funds through what they called the "electoral bonds conspiracy". According to Ramesh, these included "prepaid bribery, postpaid bribery, post-raid bribery and through farzi (fake) companies."</p>

<p>Ramesh said the Finance Minister should immediately resign as she is "guilty" politically, legally, and morally. He added that the Congress had no role in the FIR being filed, pointing out that it was registered under court orders.</p>

<h2><strong>Court-ordered FIR against FM Nirmala Sitharaman</strong></h2>

<p>The case was registered following a directive from a Bengaluru court, based on a complaint by Adarsh R. Iyer, co-president of the 'Janaadhikaara Sangharsha Parishath' (JSP). The complaint alleges that Sitharaman, along with Enforcement Directorate (ED) officials and BJP leaders, ran an extortion racket under the guise of the electoral bonds scheme, and extorted over ₹8,000 crore.</p>

<p>Those named in the FIR include Finance Minister Nirmala Sitharaman, BJP Karnataka chief B Y Vijayendra, and party leader Nalin Kumar Kateel, among others. They face charges of extortion (under Section 384 of the IPC), criminal conspiracy (120B), and common intention (34).</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/india-news/tamil-nadu-cm-stalins-son-udhayanidhi-appointed-indian-states-deputy-cm-bjp-hits-out-at-dmk-762902">Tamil Nadu CM Stalin’s son Udhayanidhi elevated as state’s Deputy CM; four ministers take oath</a></strong></p>

<p>Congress spokespersons also reiterated their demand for an investigation into the electoral bonds scheme, which was scrapped by the Supreme Court earlier this year because it violated fundamental rights such as the right to information and freedom of speech, posing a threat to free and fair elections in the country.</p>

<p>Congress said that Sitharaman couldn’t have acted alone, hinting at the involvement of others. "The Finance Minister cannot do this on her own. We know who is number 1 and number 2 and this was done on whose directions," Singhvi said.</p>

<p>"The larger issue is the level playing field which is necessary for free and fair polls. Free and fair polls are critical for democracy. This is an attack on our democratic system," Singhvi said while terming it as "EBS - Extortionist BJP Scheme," Singhvi added.</p>

<p><em>(With inputs from agencies)</em></p>


The Congress party slammed the BJP on Sunday (September 29) after a case was filed against Finance Minister Nirmala Sitharaman and others. The case is based on a complaint related to the now-cancelled electoral bonds scheme.

The Congress party slammed the BJP on Sunday (September 29) after a case was filed against Finance Minister Nirmala Sitharaman and others. The case is based on a complaint related to the now-cancelled electoral bonds scheme. Congress demanded Sitharaman’s resignation, accusing her of "undermining democracy." 'FM is 'guilty' politically, legally, and morally' Speaking at a press conference, Congress General Secretary Jairam Ramesh, alongside spokesperson Abhishek Singhvi, said that the government used four different methods to extort funds through what they called the "electoral bonds conspiracy". According to Ramesh, these included "prepaid bribery, postpaid bribery, post-raid bribery and through farzi (fake) companies." Ramesh said the Finance Minister should immediately resign as she is "guilty" politically, legally, and morally. He added that the Congress had no role in the FIR being filed, pointing out that it was registered under court orders. Court-ordered FIR against FM Nirmala Sitharaman The case was registered following a directive from a Bengaluru court, based on a complaint by Adarsh R. Iyer, co-president of the 'Janaadhikaara Sangharsha Parishath' (JSP). The complaint alleges that Sitharaman, along with Enforcement Directorate (ED) officials and BJP leaders, ran an extortion racket under the guise of the electoral bonds scheme, and extorted over ₹8,000 crore. Those named in the FIR include Finance Minister Nirmala Sitharaman, BJP Karnataka chief B Y Vijayendra, and party leader Nalin Kumar Kateel, among others. They face charges of extortion (under Section 384 of the IPC), criminal conspiracy (120B), and common intention (34). Also read: Tamil Nadu CM Stalin’s son Udhayanidhi elevated as state’s Deputy CM; four ministers take oath Congress spokespersons also reiterated their demand for an investigation into the electoral bonds scheme, which was scrapped by the Supreme Court earlier this year because it violated fundamental rights such as the right to information and freedom of speech, posing a threat to free and fair elections in the country. Congress said that Sitharaman couldn’t have acted alone, hinting at the involvement of others. "The Finance Minister cannot do this on her own. We know who is number 1 and number 2 and this was done on whose directions," Singhvi said. "The larger issue is the level playing field which is necessary for free and fair polls. Free and fair polls are critical for democracy. This is an attack on our democratic system," Singhvi said while terming it as "EBS - Extortionist BJP Scheme," Singhvi added. (With inputs from agencies)

Congress demands 'guilty' FM Sitharaman’s resignation over electoral bonds case

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<p>The court in the Indian city of&nbsp;Bengaluru court has instructed the police to file an FIR against Union Finance Minister Nirmala Sitharaman, following claims of extortion linked to the now-defunct electoral bonds scheme.</p>

<p>The complaint was submitted by Adarsh Iyer, representing the Janaadhikara Sangharsha Sanghatane, accusing Sitharaman and others of involvement in extorting funds through the electoral bonds system. Based on this, the Special Court for People's Representatives in Bengaluru directed that the FIR be registered,&nbsp;reported news agency ANI.</p>

<p>In addition to Sitharaman, the complaint also mentions&nbsp;Bharatiya Janata Party&nbsp;(BJP) President JP Nadda and Karnataka BJP figures Naleen Kumar Kateel and BY Vijayendra. It accuses them of pressuring businesses to buy electoral bonds worth thousands of crores, reportedly using Enforcement Directorate (ED) raids as a means of coercion. The complaint further alleges that these bonds were cashed by BJP leaders at both national and state levels.</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/india-news/pakistans-kashmir-rant-falls-flat-as-india-hits-back-at-unga-labels-speech-travesty-762672">Pakistan PM Shehbaz Sharif’s UNGA Kashmir rant falls flat as India hits back</a></strong></p>

<p>The scheme, according to the complaint, was used to gather illegal funds for political gain, with senior BJP figures, including Sitharaman, allegedly playing a role.</p>

<p>Earlier this year, India's&nbsp;Supreme Court declared the electoral bonds scheme unconstitutional, stating it breached the public's right to information. Introduced by the Centre in 2018, the scheme was designed to replace cash donations to political parties, aiming for greater transparency in political funding.</p>

<p>Karnataka Chief Minister Siddaramaiah, responding to the case, demanded Sitharaman’s resignation and called for a report on the matter within three months.</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/india-news/encounter-breaks-out-between-terrorists-indian-security-forces-in-j-ks-kulgam-762678">Encounter breaks out between terrorists, security forces in J-K's Kulgam</a></strong></p>

<p>"An FIR has been registered against Nirmala Sitharaman in the Special Court for People's Representatives. Who is she? She is a Union Minister, and there is an FIR against her too. They were involved in extortion through electoral bonds and the FIR has been registered on that. She should tender her resignation after the FIR has been registered. Will they (BJP) ask her to resign?" he said.</p>

<p>The BJP has stood by Sitharaman, dismissing the accusations as politically motivated. The party insisted that the electoral bonds issue concerns policy, not criminal activity, and countered by pointing to Karnataka CM Siddaramaiah’s own involvement in legal cases, including the ongoing MUDA case.</p>

<p>"Siddaramaiah is a habitual offender when it comes to cooperating with the investigation agencies. There were 106 cases against Congress leaders, and among those, 64 were absolutely on Mr Siddaramaiah when he was the Chief Minister of Karnataka the last time," said BJP spokesperson Dr&nbsp;Sudha Halkai.</p>

<p><em>(With inputs from agencies)</em></p>


The court in the Indian city of Bengaluru court has instructed the police to file an FIR against Union Finance Minister Nirmala Sitharaman, following claims of extortion linked to the now-defunct electoral bonds scheme.

The court in the Indian city of Bengaluru court has instructed the police to file an FIR against Union Finance Minister Nirmala Sitharaman, following claims of extortion linked to the now-defunct electoral bonds scheme. The complaint was submitted by Adarsh Iyer, representing the Janaadhikara Sangharsha Sanghatane, accusing Sitharaman and others of involvement in extorting funds through the electoral bonds system. Based on this, the Special Court for People's Representatives in Bengaluru directed that the FIR be registered, reported news agency ANI. In addition to Sitharaman, the complaint also mentions Bharatiya Janata Party (BJP) President JP Nadda and Karnataka BJP figures Naleen Kumar Kateel and BY Vijayendra. It accuses them of pressuring businesses to buy electoral bonds worth thousands of crores, reportedly using Enforcement Directorate (ED) raids as a means of coercion. The complaint further alleges that these bonds were cashed by BJP leaders at both national and state levels. Also read: Pakistan PM Shehbaz Sharif’s UNGA Kashmir rant falls flat as India hits back The scheme, according to the complaint, was used to gather illegal funds for political gain, with senior BJP figures, including Sitharaman, allegedly playing a role. Earlier this year, India's Supreme Court declared the electoral bonds scheme unconstitutional, stating it breached the public's right to information. Introduced by the Centre in 2018, the scheme was designed to replace cash donations to political parties, aiming for greater transparency in political funding. Karnataka Chief Minister Siddaramaiah, responding to the case, demanded Sitharaman’s resignation and called for a report on the matter within three months. Also read: Encounter breaks out between terrorists, security forces in J-K's Kulgam "An FIR has been registered against Nirmala Sitharaman in the Special Court for People's Representatives. Who is she? She is a Union Minister, and there is an FIR against her too. They were involved in extortion through electoral bonds and the FIR has been registered on that. She should tender her resignation after the FIR has been registered. Will they (BJP) ask her to resign?" he said. The BJP has stood by Sitharaman, dismissing the accusations as politically motivated. The party insisted that the electoral bonds issue concerns policy, not criminal activity, and countered by pointing to Karnataka CM Siddaramaiah’s own involvement in legal cases, including the ongoing MUDA case. "Siddaramaiah is a habitual offender when it comes to cooperating with the investigation agencies. There were 106 cases against Congress leaders, and among those, 64 were absolutely on Mr Siddaramaiah when he was the Chief Minister of Karnataka the last time," said BJP spokesperson Dr Sudha Halkai. (With inputs from agencies)

Indian FM Sitharaman hit with FIR in electoral bonds extortion case; BJP calls charges ‘politically motivated’

<p>Delhi Lieutenant Governor (LG)&nbsp;VK Saxena has suggested India's Finance Minister&nbsp;Nirmala Sitharaman to establish a system in which the vehicle insurance&nbsp;premiums are linked with traffic violations.&nbsp;</p>

<p>This would mean that the more traffic violations recorded and challans generated, the insurance premium for next year would be higher accordingly.</p>

<p>In the letter, Saxena emphasised that such a system is important to enhance&nbsp;road safety&nbsp;and promote responsible driving behaviour.</p>

<p>"I am writing to draw your kind attention to a matter of critical importance concerning road safety and vehicular insurance in India," wrote Saxena, in the letter.</p>

<p>"I would like to suggest for your consideration that&nbsp;insurance premiums&nbsp;should be index-linked with the number of traffic violations recorded against a vehicle, which would have a salutary impact on road safety and traffic discipline," he added.</p>

<p>"There is an obvious correlation between repeat traffic offences and the risk of accidents. I would therefore suggest that a layered insurance premium system based on the frequency and severity of traffic violations, as recorded in MoRTH's VAHAN database, may be introduced," the lieutenant governor explained.</p>

<p><strong>Also Read:</strong>&nbsp;<a href="https://www.wionews.com/trending/not-just-red-amber-and-green-traffic-lights-will-have-a-new-colour-heres-why-749369">Not just red, amber and green, traffic lights will have a new colour. Here's why</a></p>

<p>He said that vehicles with a history of over-speeding and dangerous driving need to be subjected to higher insurance premiums which can work as a financial deterrent and encourage safe driving habits among drivers.</p>

<p>He said that similar systems have been in place in other countries.</p>

<p>"Such measures have been successfully implemented in other countries such as the United States, where insurance premiums increase significantly based on traffic violations and speeding tickets, leading to an average premium increase of 20 to 30%," he said.</p>

<p>"Linking insurance premiums to traffic violations would not only align insurance costs with risk but also reduce the financial burden on insurers due to claims arising from frequent accidents," Saxena added.&nbsp;</p>

<p><strong>Watch:&nbsp;Bangladesh-India passenger traffic drops</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/bangladesh-india-passenger-traffic-drops-758618/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>"This market-driven solution would encourage responsible driving, contribute to reduced road accidents, save lives, and ensure better management of insurance claims," he said.</p>

<h2><strong>Challan-insurance linked model can reduce accidents: LG</strong></h2>

<p>India recorded more than 4.37 lakh road accidents in 2022 among which 70 per cent of cases were of over-speeding.</p>

<p>The lieutenant governor stated that if this model gets adopted in India, it can establish a new benchmark in road safety initiatives.</p>

<p>"By adopting this system, India could significantly reduce its alarming rate of road accidents. If implemented, this policy could be a pivotal step towards reducing road fatalities, preserving lives, and ensuring a safer, more sustainable future on Indian roads," Saxena said.</p>

<p><em>(With input from agencies)</em></p>


Delhi Lieutenant Governor (LG) VK Saxena has suggested India's Finance Minister Nirmala Sitharaman to establish a system in which the vehicle insurance premiums are linked with traffic violations.

Delhi Lieutenant Governor (LG) VK Saxena has suggested India's Finance Minister Nirmala Sitharaman to establish a system in which the vehicle insurance premiums are linked with traffic violations. This would mean that the more traffic violations recorded and challans generated, the insurance premium for next year would be higher accordingly. In the letter, Saxena emphasised that such a system is important to enhance road safety and promote responsible driving behaviour. "I am writing to draw your kind attention to a matter of critical importance concerning road safety and vehicular insurance in India," wrote Saxena, in the letter. "I would like to suggest for your consideration that insurance premiums should be index-linked with the number of traffic violations recorded against a vehicle, which would have a salutary impact on road safety and traffic discipline," he added. "There is an obvious correlation between repeat traffic offences and the risk of accidents. I would therefore suggest that a layered insurance premium system based on the frequency and severity of traffic violations, as recorded in MoRTH's VAHAN database, may be introduced," the lieutenant governor explained. Also Read: Not just red, amber and green, traffic lights will have a new colour. Here's why He said that vehicles with a history of over-speeding and dangerous driving need to be subjected to higher insurance premiums which can work as a financial deterrent and encourage safe driving habits among drivers. He said that similar systems have been in place in other countries. "Such measures have been successfully implemented in other countries such as the United States, where insurance premiums increase significantly based on traffic violations and speeding tickets, leading to an average premium increase of 20 to 30%," he said. "Linking insurance premiums to traffic violations would not only align insurance costs with risk but also reduce the financial burden on insurers due to claims arising from frequent accidents," Saxena added. Watch: Bangladesh-India passenger traffic drops "This market-driven solution would encourage responsible driving, contribute to reduced road accidents, save lives, and ensure better management of insurance claims," he said. Challan-insurance linked model can reduce accidents: LG India recorded more than 4.37 lakh road accidents in 2022 among which 70 per cent of cases were of over-speeding. The lieutenant governor stated that if this model gets adopted in India, it can establish a new benchmark in road safety initiatives. "By adopting this system, India could significantly reduce its alarming rate of road accidents. If implemented, this policy could be a pivotal step towards reducing road fatalities, preserving lives, and ensuring a safer, more sustainable future on Indian roads," Saxena said. (With input from agencies)

Delhi LG suggests FM Sitharaman link vehicle insurance to traffic challans. Here's how it will impact premiums

<p>While speaking about the tragic death of Ernest and Young's (EY) former employee Anna Sebastian Perayil, who apparently succumbed&nbsp;to work pressure, India's Finance Minister Nirmala Sitharaman on Sunday (Sep&nbsp;22) called out the colleges and universities to provide “stress management lessons” to the students.</p>

<p>The death of 26-year-old Anna has taken the country by storm and has ignited a debate on the toxic work culture prevalent at some top consulting firms.&nbsp;</p>

<p>The debate started after the heart-wrenching letter of the 26-year-old's mother Anita Augustine went viral, in which she blamed Ernst &amp; Young's toxic work culture for her daughter's death.&nbsp;</p>

<p><strong>Also Read:</strong>&nbsp;<a href="https://www.wionews.com/trending/eys-ex-employees-open-up-about-toxic-work-culture-as-annas-tragic-death-takes-country-by-storm-760132">EY's ex-employees open up about 'toxic work culture' as Anna's 'tragic death' takes country by storm</a></p>

<p>Anna had joined the audit and assurance team of the company in Pune in March of this year and died after four months allegedly because of extreme work stress.</p>

<h2><strong>Sitharaman says achieving divinity and seeking God will help handle work stress</strong></h2>

<p>Speaking at an event organised in a college in Chennai, the finance minister said that the educational institutions apart from providing good education and campus placement, should also teach some other things.</p>

<p>FM Sitharaman said that she “…was discussing an issue that is in the news for the past two days…a woman who had studied CA well, unable to cope with the work pressure, two-three days ago we received a news — she died unable to cope up with the pressure.”</p>

<p>“I was discussing an issue that has been in newspapers for the past two days. Our children go to colleges and universities for education and come out with flying colours," she added.</p>

<p>She further emphasised that people can gain the strength to handle pressure by achieving divinity.</p>

<p>“Believe in God, we need to have God's grace. Seek God, and learn good discipline. Your Atma shakti will grow only from this. The inner strength will come only with growing Atma Shakti…Educational institutions should bring in divinity and spirituality. Then only will our children get the inner strength. It will help in their progress and the country. That is my strong belief,” the finance minister said.</p>

<h2><strong>Congress reacts to Sitharaman's remarks, calls it 'downright cruel'</strong></h2>

<p>Congress General Secretary (Organisation), K C Venugopal slammed Sitharaman for her remarks.</p>

<p><strong>Watch:&nbsp;EY Employee's Death: Are India’s Labour Laws Enabling Workers' Exploitation? | WION Decodes</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/ey-employees-death-are-indias-labour-laws-enabling-workers-exploitation-wion-decodes-760449/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>“The ruling regime and the Finance Minister can only see the pain of corporate giants like Adani and Ambani, not the pain of the hardworking and toiling young generation where freshers like Anna are exploited by the greedy corporate system… It is downright cruel on the part of the FM to blame Anna and her family for suggesting that she should have learnt stress management at home. This kind of victim-blaming is despicable and no words can convey the anger and disgust one feels because of such statements," the leader said.</p>

<p>"How heartless can this government be? Have they lost all sense of empathy? The parents are still recovering from this terrible tragedy. The toxic work environment should have triggered an honest review of corporate practices and led to necessary reforms that protect employees,” Venugopal said.</p>

<p><em>(With inputs from agencies)</em></p>


While speaking about the tragic death of Ernest and Young's (EY) former employee Anna Sebastian Perayil, who apparently succumbed to work pressure, India's Finance Minister Nirmala Sitharaman on Sunday (Sep 22) called out the colleges and universities to provide “stress management lessons” to the students.

While speaking about the tragic death of Ernest and Young's (EY) former employee Anna Sebastian Perayil, who apparently succumbed to work pressure, India's Finance Minister Nirmala Sitharaman on Sunday (Sep 22) called out the colleges and universities to provide “stress management lessons” to the students. The death of 26-year-old Anna has taken the country by storm and has ignited a debate on the toxic work culture prevalent at some top consulting firms. The debate started after the heart-wrenching letter of the 26-year-old's mother Anita Augustine went viral, in which she blamed Ernst & Young's toxic work culture for her daughter's death. Also Read: EY's ex-employees open up about 'toxic work culture' as Anna's 'tragic death' takes country by storm Anna had joined the audit and assurance team of the company in Pune in March of this year and died after four months allegedly because of extreme work stress. Sitharaman says achieving divinity and seeking God will help handle work stress Speaking at an event organised in a college in Chennai, the finance minister said that the educational institutions apart from providing good education and campus placement, should also teach some other things. FM Sitharaman said that she “…was discussing an issue that is in the news for the past two days…a woman who had studied CA well, unable to cope with the work pressure, two-three days ago we received a news — she died unable to cope up with the pressure.” “I was discussing an issue that has been in newspapers for the past two days. Our children go to colleges and universities for education and come out with flying colours," she added. She further emphasised that people can gain the strength to handle pressure by achieving divinity. “Believe in God, we need to have God's grace. Seek God, and learn good discipline. Your Atma shakti will grow only from this. The inner strength will come only with growing Atma Shakti…Educational institutions should bring in divinity and spirituality. Then only will our children get the inner strength. It will help in their progress and the country. That is my strong belief,” the finance minister said. Congress reacts to Sitharaman's remarks, calls it 'downright cruel' Congress General Secretary (Organisation), K C Venugopal slammed Sitharaman for her remarks. Watch: EY Employee's Death: Are India’s Labour Laws Enabling Workers' Exploitation? | WION Decodes “The ruling regime and the Finance Minister can only see the pain of corporate giants like Adani and Ambani, not the pain of the hardworking and toiling young generation where freshers like Anna are exploited by the greedy corporate system… It is downright cruel on the part of the FM to blame Anna and her family for suggesting that she should have learnt stress management at home. This kind of victim-blaming is despicable and no words can convey the anger and disgust one feels because of such statements," the leader said. "How heartless can this government be? Have they lost all sense of empathy? The parents are still recovering from this terrible tragedy. The toxic work environment should have triggered an honest review of corporate practices and led to necessary reforms that protect employees,” Venugopal said. (With inputs from agencies)

EY employee death: FM Sitharaman says colleges should provide ‘stress management lessons’

Addressing an event to mark the 165th year of the Income Tax Department, Finance Minister Nirmala Sitharaman on Wednesday urged the department to simplify the language of notices and further expedite the refund processes. She also asked the tax department to work towards being “fair and friendly”.

Indian FM Nirmala Sitharaman urges Income Tax Department to simplify tax procedures

<p>Union Finance Minister Nirmala Sitaraman has&nbsp;received a letter from former ministry official, EAS Sarma, urging her to push for a judicial investigation into the allegations made by US-based short-seller, Hindenburg Research, in its latest report against SEBI chief Madhabi Puri Buch.&nbsp;</p>

<p>Sarma said Madhabi's 'conflict of interest' with Adani Group forced the Indian market regulator to conduct an impartial probe into the previous allegations made by Hindenburg.&nbsp;&nbsp;</p>

<p>"If the accusations made by Hindenburg are factually found to be correct, all investigations conducted during the last few years by the stock market regulator on external manipulation of stock market indices by a few corporate entities through their benami agencies need to be subject to a re-investigation," said Sarma in the letter, as per news agency&nbsp;<em>PTI.</em></p>

<p>The career bureaucrat added that the government should request the Chief Justice of India (CJI) to nominate a senior member to head an inquiry commission that may probe the case to uphold the public trust in the regulatory body.</p>

<p>"Such accusations should wake up the powers that be to refrain from interfering with the independence of any statutory institution for that matter, as such interference will erode public trust and credibility of that institution," he added.&nbsp;</p>

<p>Prior to Sarma, Leader of Opposition (LoP) in Lok Sabha (Lower House of Indian Parliament) and Indian National Congress (INC) leader, Rahul Gandhi, had also demanded a Joint Parliamentary Committee (JPC) inquiry into the charges.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/hindenburg-vs-sebi-chief-saga-hindenburg-allegations-invoke-chandra-kochars-case-749589"><strong>Watch |&nbsp;Hindenburg vs SEBI Chief Saga: Hindenburg allegations invoke Chandra Kochar's case</strong></a></p>

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<h2><strong>Opposition demands JPC probe</strong></h2>

<p>Gandhi asked the government if something were to go wrong and investors were to lose their hard-earned money, "who would be held responsible?"&nbsp;</p>

<p>“Is the Prime Minister of India responsible? Is Madhabi Buch responsible, or is Mr&nbsp;Adani responsible? It’s slowly becoming crystal clear why PM [Narendra] Modi is against a JPC looking into this matter,” said Gandhi.&nbsp;</p>

<p><a href="https://www.wionews.com/business-economy/wholl-watch-the-watchdog-did-sebi-chief-madhabi-buch-fail-to-disclose-adani-links-recuse-from-probes-749348"><strong>Also read |&nbsp;Who'll watch the watchdog? Did SEBI chief Madhabi Buch fail to disclose Adani links, recuse from probes?</strong></a></p>

<p>Meanwhile, global investors have also urged Madhabi to resign from the top post to maintain the sanctity of the watchdog.&nbsp;</p>

<p>"Some people associated with SEBI have a conflict of interest. We have to assume that these allegations are true. If they are true then the people involved have to resign, there is no question about this," Mark Faber,&nbsp;the publisher of ‘The Gloom, Boom &amp; Doom Report’ told <em>WION</em>.</p>

<p>Economist and tech analyst Daniel Geltrude also suggested that Madhabi should resign, warning that corruption involving offshore funds can erode foreign inflows.</p>

<p><em>(With inputs from agencies)</em></p>


Union Finance Minister Nirmala Sitaraman has received a letter from former ministry official, EAS Sarma, urging her to push for a judicial investigation into the allegations made by US-based short-seller, Hindenburg Research, in its latest report against SEBI chief Madhabi Puri Buch.

Union Finance Minister Nirmala Sitaraman has received a letter from former ministry official, EAS Sarma, urging her to push for a judicial investigation into the allegations made by US-based short-seller, Hindenburg Research, in its latest report against SEBI chief Madhabi Puri Buch. Sarma said Madhabi's 'conflict of interest' with Adani Group forced the Indian market regulator to conduct an impartial probe into the previous allegations made by Hindenburg. "If the accusations made by Hindenburg are factually found to be correct, all investigations conducted during the last few years by the stock market regulator on external manipulation of stock market indices by a few corporate entities through their benami agencies need to be subject to a re-investigation," said Sarma in the letter, as per news agency PTI. The career bureaucrat added that the government should request the Chief Justice of India (CJI) to nominate a senior member to head an inquiry commission that may probe the case to uphold the public trust in the regulatory body. "Such accusations should wake up the powers that be to refrain from interfering with the independence of any statutory institution for that matter, as such interference will erode public trust and credibility of that institution," he added. Prior to Sarma, Leader of Opposition (LoP) in Lok Sabha (Lower House of Indian Parliament) and Indian National Congress (INC) leader, Rahul Gandhi, had also demanded a Joint Parliamentary Committee (JPC) inquiry into the charges. Watch | Hindenburg vs SEBI Chief Saga: Hindenburg allegations invoke Chandra Kochar's case × Opposition demands JPC probe Gandhi asked the government if something were to go wrong and investors were to lose their hard-earned money, "who would be held responsible?" “Is the Prime Minister of India responsible? Is Madhabi Buch responsible, or is Mr Adani responsible? It’s slowly becoming crystal clear why PM [Narendra] Modi is against a JPC looking into this matter,” said Gandhi. Also read | Who'll watch the watchdog? Did SEBI chief Madhabi Buch fail to disclose Adani links, recuse from probes? Meanwhile, global investors have also urged Madhabi to resign from the top post to maintain the sanctity of the watchdog. "Some people associated with SEBI have a conflict of interest. We have to assume that these allegations are true. If they are true then the people involved have to resign, there is no question about this," Mark Faber, the publisher of ‘The Gloom, Boom & Doom Report’ told WION. Economist and tech analyst Daniel Geltrude also suggested that Madhabi should resign, warning that corruption involving offshore funds can erode foreign inflows. (With inputs from agencies)

Hindenburg report: Ex-Finance Ministry official urges Nirmala Sitharaman to probe SEBI chief Madhabi Buch

<p>Union Finance Minister Nirmala Sitharaman slammed the opposition on Tuesday for its undue criticism and refuted all&nbsp;the allegations of bias for allies-ruled states and neglect of opposition-ruled ones in the Union Budget 2024 presented by her.<br />
<br />
Replying to the budget discussion in the Lok Sabha, Sitharaman&nbsp;clarified that no state was denied funds and slammed the opposition for misleading the nation by suggesting so. She recalled that the UPA government also did not mention the names of all states in its Budget speeches, and asked if it had also not provided any funds to the states.<br />
&nbsp;</p>

<h2><strong>No state is being denied any money: FM</strong></h2>

<p>Sitharaman also slammed the Opposition for claiming that the Budget will only release funds for Bihar and Andhra Pradesh. “If a state's name is not mentioned in Budget speech, it doesn't mean that no money is given to them,” Sitharaman said.</p>

<p><strong>Watch |&nbsp;Kerala Landslides: 93 dead, 128 hurt in Wayanad landslide</strong></p>

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<p>"The Budget of 2004-2005 did not take the name of 17 states. I would like to ask the members of the UPA government at that time - did money not go to those 17 states? Did they stop it? If they have stopped it, then they have every business to raise questions,” the Finance Minister added.</p>

<p>"Government is complying with the fiscal deficit trajectory. It will bring down the deficit to below 4.5 per cent by 2025-26 from the targeted 4.9 per cent for the current fiscal. The deficit was 5.6 per cent in 2023-24," Sitharaman said.</p>

<h2>Lok Sabha passes&nbsp;Union Budget 2024-25</h2>

<p>The lower house passed the Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman last week, on Tuesday (July 30) through a voice vote.</p>

<p>Aside from the Union Budget, the budget of the Union Territory of Jammu &amp; Kashmir was also passed in Lok Sabha via voice vote on Tuesday.</p>

<p>The budget was passed following the Budget 2024-25 debate in Lok Sabha, during which Union Finance Minister Nirmala Sitharaman responded to the Opposition's questions. She also highlighted the government's goal to cap the fiscal deficit in coming years.</p>

<p>The Finance Minister said that the government is working to realise its goal of building 'Viksit Bharat' by the year 2047. She stated that India, being the fastest growing economy, has overcome the after-effects of the COVID-19 pandemic.</p>

<p>Sitharaman stressed that the FY25 Budget has not given less allocation to any sector compared to FY24 and no state is being denied any money.&nbsp;</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/india-news/up-government-passes-bill-to-intensify-punishments-for-religious-conversions-to-curb-love-jihad-745633">UP government passes bill to intensify punishments for religious conversions to curb 'love jihad'</a></strong></p>

<p>"Unemployment rate, for the age group of 15-59 years has actually come down for J&amp;K, from 6.4% in 2020-21 to 5.7% in 2021-22 to 4.4% in 2022-23," Sitharaman said.</p>

<p>Speaking on the Union Territory of J&amp;K Sitharaman said, "We have provided substantial financial support of ₹17,000 crore in the Union Budget of UT Jammu and Kashmir this year. It includes ₹12,000 crore towards financing the cost of Jammu and Kashmir Police."</p>

<p>On agriculture, the Finance Minister said, "Agriculture had 0.30 lakh crore in 2013-14, whereas now it has 1.52 lakh crore. It is 8,000 crores more than last year, which is 2023-24. Education and employment had 0.85 lakh crore allotted in 2013-14, whereas today it is 1.48 lakh crore, 23% more allocation."</p>

<p>"The Budget allocation for the department of agriculture and farmers' welfare was only ₹21,934 crore in 2013-2014. However, in 2024-2025, it has increased to ₹1.23 lakh crore. There's a five-fold increase. More than ₹3.2 lakh crore have been disbursed to over 11 crore farmers under PM Kisan since its launch," she added.</p>

<p><em>(With inputs from agencies)</em></p>


Union Finance Minister Nirmala Sitharaman slammed the opposition on Tuesday for its undue criticism and refuted all the allegations of bias for allies-ruled states and neglect of opposition-ruled ones in the Union Budget 2024 presented by her.

Union Finance Minister Nirmala Sitharaman slammed the opposition on Tuesday for its undue criticism and refuted all the allegations of bias for allies-ruled states and neglect of opposition-ruled ones in the Union Budget 2024 presented by her. Replying to the budget discussion in the Lok Sabha, Sitharaman clarified that no state was denied funds and slammed the opposition for misleading the nation by suggesting so. She recalled that the UPA government also did not mention the names of all states in its Budget speeches, and asked if it had also not provided any funds to the states. No state is being denied any money: FM Sitharaman also slammed the Opposition for claiming that the Budget will only release funds for Bihar and Andhra Pradesh. “If a state's name is not mentioned in Budget speech, it doesn't mean that no money is given to them,” Sitharaman said. Watch | Kerala Landslides: 93 dead, 128 hurt in Wayanad landslide × "The Budget of 2004-2005 did not take the name of 17 states. I would like to ask the members of the UPA government at that time - did money not go to those 17 states? Did they stop it? If they have stopped it, then they have every business to raise questions,” the Finance Minister added. "Government is complying with the fiscal deficit trajectory. It will bring down the deficit to below 4.5 per cent by 2025-26 from the targeted 4.9 per cent for the current fiscal. The deficit was 5.6 per cent in 2023-24," Sitharaman said. Lok Sabha passes Union Budget 2024-25 The lower house passed the Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman last week, on Tuesday (July 30) through a voice vote. Aside from the Union Budget, the budget of the Union Territory of Jammu & Kashmir was also passed in Lok Sabha via voice vote on Tuesday. The budget was passed following the Budget 2024-25 debate in Lok Sabha, during which Union Finance Minister Nirmala Sitharaman responded to the Opposition's questions. She also highlighted the government's goal to cap the fiscal deficit in coming years. The Finance Minister said that the government is working to realise its goal of building 'Viksit Bharat' by the year 2047. She stated that India, being the fastest growing economy, has overcome the after-effects of the COVID-19 pandemic. Sitharaman stressed that the FY25 Budget has not given less allocation to any sector compared to FY24 and no state is being denied any money. Also read: UP government passes bill to intensify punishments for religious conversions to curb 'love jihad' "Unemployment rate, for the age group of 15-59 years has actually come down for J&K, from 6.4% in 2020-21 to 5.7% in 2021-22 to 4.4% in 2022-23," Sitharaman said. Speaking on the Union Territory of J&K Sitharaman said, "We have provided substantial financial support of ₹17,000 crore in the Union Budget of UT Jammu and Kashmir this year. It includes ₹12,000 crore towards financing the cost of Jammu and Kashmir Police." On agriculture, the Finance Minister said, "Agriculture had 0.30 lakh crore in 2013-14, whereas now it has 1.52 lakh crore. It is 8,000 crores more than last year, which is 2023-24. Education and employment had 0.85 lakh crore allotted in 2013-14, whereas today it is 1.48 lakh crore, 23% more allocation." "The Budget allocation for the department of agriculture and farmers' welfare was only ₹21,934 crore in 2013-2014. However, in 2024-2025, it has increased to ₹1.23 lakh crore. There's a five-fold increase. More than ₹3.2 lakh crore have been disbursed to over 11 crore farmers under PM Kisan since its launch," she added. (With inputs from agencies)

FM slams Opposition for alleging bias, reminds ‘26 states not named in 2009 UPA era Budget’

<p><meta name="uuid" content="uuidrp4XkLqZWIb2" /></p>

<p>Earlier this week, the Indian&nbsp;Finance Minister&nbsp;Nirmala Sitharaman presented the Union Budget 2024 in Parliament. Since then, the internet has been filled with multiple satirical videos of content creators telling people how to avoid income tax has gone viral.</p>

<p>Content creator Shrinidhi Hande shared this hack in a video that has entertained millions. The video was posted shortly after Sitharaman presented the Union Budget 2024, which quickly became a target for numerous jokes and memes.</p>

<p>In his witty video, Hande described a method for salaried professionals to save 100 per cent&nbsp;on income tax by selling grass to their employers.</p>

<p>“In this video, I will tell you how to save 100 per cent on income tax,” Hande, who hails from Udupi, Karnataka, explained.</p>

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<p style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;"><a href="https://www.instagram.com/reel/C9wLaorKhAP/?utm_source=ig_embed&amp;utm_campaign=loading" style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;" target="_blank">A post shared by Shrinidhi Hande (@enidhi)</a></p>
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<p>He described it as a “very easy, legal and simple process” although it isn't.</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/india-news/india-mic-was-muted-west-bengal-cm-mamata-locks-horns-with-pm-modi-during-niti-aayog-meet-744740">'Mic was muted': West Bengal CM Mamata locks horns with PM Modi during NITI Aayog meet</a></strong></p>

<p>“Step one: You have to grow grass in your home or on your balcony or your terrace, and it is a very, very legal process,” the content creator said.</p>

<p>“Now, go to the HR and tell them you don’t want any salary. They would be happy. Tell your HR that your company should buy grass from you to the tune of your salary. If your salary is ₹50,000, maybe they can buy 50 strands of grass for ₹1,000 each. Completely legal process,” he continued.</p>

<p>“Now what happens, your income from salary becomes zero and all you have is income from selling agricultural produce which is not taxable in India. This way, you can save 100 per cent on income tax. No need to worry about TDS or investment,” he concluded.</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/india-news/india-opposition-leader-expelled-from-house-for-mimicking-bihar-cm-nitish-kumar-744772">India: Opposition leader expelled from House for 'mimicking' Bihar CM Nitish Kumar</a></strong></p>

<p>“Written with humorous intent only,” the disclaimer of the post read.</p>

<p>Since being shared on July 23, the video has received numerous views and reactions.</p>

<p>"Perfect s**la actually only educated are bullied to pay because they maintain accounts ethically. this is ethical tax otherwise the rediwalas earn more than us and agriculture everybody knows who becomes farmer overnight," one comment read</p>

<p>“How funny it's going to be when the company's financial statement shows 40-80% of revenue is spent in purchasing GRASS,” another wrote.</p>

<p>“I did, HR called the police and asked me what type of grass it is that I am trying to sell in 50k,” the third one said.</p>

<p><em>(With inputs from agencies)</em></p>


Earlier this week, the Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in Parliament. Since then, the internet has been filled with multiple satirical videos of content creators telling people how to avoid income tax has gone viral.

Earlier this week, the Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in Parliament. Since then, the internet has been filled with multiple satirical videos of content creators telling people how to avoid income tax has gone viral. Content creator Shrinidhi Hande shared this hack in a video that has entertained millions. The video was posted shortly after Sitharaman presented the Union Budget 2024, which quickly became a target for numerous jokes and memes. In his witty video, Hande described a method for salaried professionals to save 100 per cent on income tax by selling grass to their employers. “In this video, I will tell you how to save 100 per cent on income tax,” Hande, who hails from Udupi, Karnataka, explained. View this post on Instagram A post shared by Shrinidhi Hande (@enidhi) × He described it as a “very easy, legal and simple process” although it isn't. Also read: 'Mic was muted': West Bengal CM Mamata locks horns with PM Modi during NITI Aayog meet “Step one: You have to grow grass in your home or on your balcony or your terrace, and it is a very, very legal process,” the content creator said. “Now, go to the HR and tell them you don’t want any salary. They would be happy. Tell your HR that your company should buy grass from you to the tune of your salary. If your salary is ₹50,000, maybe they can buy 50 strands of grass for ₹1,000 each. Completely legal process,” he continued. “Now what happens, your income from salary becomes zero and all you have is income from selling agricultural produce which is not taxable in India. This way, you can save 100 per cent on income tax. No need to worry about TDS or investment,” he concluded. Also read: India: Opposition leader expelled from House for 'mimicking' Bihar CM Nitish Kumar “Written with humorous intent only,” the disclaimer of the post read. Since being shared on July 23, the video has received numerous views and reactions. "Perfect s**la actually only educated are bullied to pay because they maintain accounts ethically. this is ethical tax otherwise the rediwalas earn more than us and agriculture everybody knows who becomes farmer overnight," one comment read “How funny it's going to be when the company's financial statement shows 40-80% of revenue is spent in purchasing GRASS,” another wrote. “I did, HR called the police and asked me what type of grass it is that I am trying to sell in 50k,” the third one said. (With inputs from agencies)

Grass for cash: Karnataka content creator’s hilarious tax hack goes viral after Union Budget 2024

We turn our focus to some findings in india's budget, which fell short of tax reforms widely expected by the middle class. India has exempted investments in some funds made through gujarat international finance tec-city (gift city) by non-resident indians, or nris and foreign retail investors.

India exempts foreigners investing in gift city from taxes

India's Finance Minister Nirmala Sitharaman presented the country's budget for the financial year 2024-25. Let's break this budget down for you and put the focus on the middle class.

Budget 2024: What the budget means for the middle class?

Indian Finance Minister Nirmala Sitharaman is currently presenting the Union Budget in Lok Sabha. The Budget is being considered the action plan for the Modi 3.0 govt to outline a roadmap towards India's development in the next five years.

Budget 2024: Finance Min Nirmala Sitharaman presents budget 2024, says 'Rs 2 lakh cr for 5 schemes'

<p>India's Finance Minister Nirmala Sitharaman chose a white checkered saree with magenta and gold border as her chosen attire to present the Union Budget 2024 on Tuesday (Jul 23). It is a watershed moment for Sitharaman who is the first finance minister in the history of India to be presenting the seventh consecutive budget this year.&nbsp;<br />
<br />
India's finance minister Nirmala Sitharaman's sartorial style is keenly watched every year on budget by the fashion police and she never disappoints. The finance minister's handloom saree collection is truly enviable.</p>

<p><a href="https://www.wionews.com/india-news/union-budget-2024-live-updates-fm-sitharaman-will-present-the-union-budget-in-parliament-changes-in-tax-slabs-743214">LIVE | Union Budget 2024: Nirmala Sitharaman leaves for Parliament</a><br />
&nbsp;<br />
On July 23, as Sitharaman made her way to the parliament to present the Union budget 2024, Sitharaman briefly stopped for a photo-op along with her team. The Union Minister donned an off-white base handloom saree with square checks and a broad magenta border with gold embroidery.</p>

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<p dir="ltr" lang="en">Finance Minister Nirmala Sitharaman set to present Modi 3.0 govt's first budget today in Parliament <a href="https://t.co/KEwUg2J2Rq">pic.twitter.com/KEwUg2J2Rq</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1815593228185518380?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
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<p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Finance Minister Nirmala Sitharaman meets President Droupadi Murmu at Rashtrapati Bhavan, ahead of the Budget presentation at 11am in Parliament.<br />
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(Source: DD News) <a href="https://t.co/VdsKg5bSLG">pic.twitter.com/VdsKg5bSLG</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1815603352111124708?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
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<p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Delhi: Finance Minister Nirmala Sitharaman along with her team with the Budget tablet outside the Ministry of Finance in North Block.<br />
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She will present the Union Budget today at around 11 AM in Lok Sabha. <a href="https://t.co/NARqjCBOW1">pic.twitter.com/NARqjCBOW1</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1815593613864112575?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
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<p>For the interim budget, the FM had draped a resplendent and bright blue kantha silk saree with intricate threadwork embroidery all over.</p>

<h2><strong>Handloom saree lover</strong></h2>

<p>Sitharaman is known for her affinity towards handloom sarees and has always endorsed them. She has always encouraged the traditional craftsmanship that goes into weaving handloom sarees in India. Over the years, Sitharaman has worn some splendid Indian handloom sarees while presenting the Union budget. Here's a look at her sartorial choices in the past budget sessions.&nbsp;<br />
<br />
In 2023, Sitharaman wore a red and black temple border saree with Kasuti threadwork all over. A staunch supporter of traditional handlooms ever since she became the finance minister, Sitharaman has always opted to promote handloom sarees when presenting the Union Budget in the past years.&nbsp;</p>

<p><img alt="n" data-entity-type="file" data-entity-uuid="a7b4a4ca-f3e1-45e4-a565-0d83884f3a54" src="//cdn.wionews.com/sites/default/files/inline-images/GTIz_vjW0AA5k8Y.jpg" /><br />
<br />
In 2021, she wore a classic red and off-white silk Pochampally sari with ikat patterns around the pallu with a green border. Pochampally ikat is traditionally made in the south Indian state of Telangana, also known as the 'silk city of India'.<br />
<br />
In 2020, Sitharaman opted for a bright yellow-gold silk saree. The yellow colour is often considered a sacred colour which stands for prosperity.</p>


India's Finance Minister Nirmala Sitharaman chose a white checkered saree with magenta and gold border as her chosen attire to present the Union Budget 2024 on Tuesday (Jul 23).

India's Finance Minister Nirmala Sitharaman chose a white checkered saree with magenta and gold border as her chosen attire to present the Union Budget 2024 on Tuesday (Jul 23). It is a watershed moment for Sitharaman who is the first finance minister in the history of India to be presenting the seventh consecutive budget this year. India's finance minister Nirmala Sitharaman's sartorial style is keenly watched every year on budget by the fashion police and she never disappoints. The finance minister's handloom saree collection is truly enviable. LIVE | Union Budget 2024: Nirmala Sitharaman leaves for Parliament On July 23, as Sitharaman made her way to the parliament to present the Union budget 2024, Sitharaman briefly stopped for a photo-op along with her team. The Union Minister donned an off-white base handloom saree with square checks and a broad magenta border with gold embroidery. Finance Minister Nirmala Sitharaman set to present Modi 3.0 govt's first budget today in Parliament pic.twitter.com/KEwUg2J2Rq — ANI (@ANI) July 23, 2024 × #WATCH | Finance Minister Nirmala Sitharaman meets President Droupadi Murmu at Rashtrapati Bhavan, ahead of the Budget presentation at 11am in Parliament. (Source: DD News) pic.twitter.com/VdsKg5bSLG — ANI (@ANI) July 23, 2024 × #WATCH | Delhi: Finance Minister Nirmala Sitharaman along with her team with the Budget tablet outside the Ministry of Finance in North Block. She will present the Union Budget today at around 11 AM in Lok Sabha. pic.twitter.com/NARqjCBOW1 — ANI (@ANI) July 23, 2024 × For the interim budget, the FM had draped a resplendent and bright blue kantha silk saree with intricate threadwork embroidery all over. Handloom saree lover Sitharaman is known for her affinity towards handloom sarees and has always endorsed them. She has always encouraged the traditional craftsmanship that goes into weaving handloom sarees in India. Over the years, Sitharaman has worn some splendid Indian handloom sarees while presenting the Union budget. Here's a look at her sartorial choices in the past budget sessions. In 2023, Sitharaman wore a red and black temple border saree with Kasuti threadwork all over. A staunch supporter of traditional handlooms ever since she became the finance minister, Sitharaman has always opted to promote handloom sarees when presenting the Union Budget in the past years. In 2021, she wore a classic red and off-white silk Pochampally sari with ikat patterns around the pallu with a green border. Pochampally ikat is traditionally made in the south Indian state of Telangana, also known as the 'silk city of India'. In 2020, Sitharaman opted for a bright yellow-gold silk saree. The yellow colour is often considered a sacred colour which stands for prosperity.

Nirmala Sitharaman dons white checkered handloom saree for Union Budget 2024

It's time for India's Union Budget presentation today as the country gears up for a pivotal moment in its economic roadmap. All eyes are on New Delhi as Finance Minister Nirmala Sitharaman presents the Union Budget of India.

Budget 2024: Nirmala Sitharaman presents the first budget of Modi's 3.0 government

<p><strong>Union Budget 2024:</strong>&nbsp;Indian Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 in Parliament today. This will be the Modi 3.0 government’s maiden budget for the fiscal 2024-25.&nbsp;</p>

<p>With today’s budget, Sitharaman is set to create history by presenting the budget seven times in a row, surpassing the record of six budgets held by former prime minister Morarji Desai.&nbsp;</p>

<p>Sitharaman, 64, was appointed as India’s first full-time woman finance minister in 2019 when Prime Minister Narendra Modi won a decisive second term. Since then, she has presented six straight budgets, including an interim one in February this year.</p>

<p><strong>Also Read |</strong>&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-nirmala-sitharaman-wears-a-white-checkered-handloom-saree-for-union-budget-2024-743280">Nirmala Sitharaman wears a white checkered handloom saree for Union Budget 2024</a></p>

<p>The full Budget for the 2024-25 fiscal (April 2024 to March 2025) will be her seventh straight. She will better Desai’s record, who presented five consecutive full budgets and one interim budget from 1959 to 1964.</p>

<p>The 2020 budget presented by Sitharaman is also iconic for her speech in the parliament, which was the longest speech in history. Her speech lasted for two hours and 40 minutes. At the time, she cut short her speech with two pages remaining.&nbsp;</p>

<p>Former finance minister Manmohan Singh set the record for the longest speech in terms of words. His budget speech consisted of 18,700 words in the 1991 budget presentation.&nbsp;</p>

<p><strong>Watch |</strong>&nbsp;<strong>Budget 2024: Indian youngsters call for tax reforms | Nirmala Sitharaman | Narendra Modi |Vibe Check</strong></p>

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<p>This year witnessed two budgets – an interim one in February and a full one this month. This is because an incumbent government cannot present a full Budget just before general elections.</p>

<p>The presentation on July 23 will be the first Budget by the BJP-led NDA government since its re-election last month. The budget will be presented at 11:00 am on Tuesday.&nbsp;</p>

<p><strong>Also Read |&nbsp;</strong><a href="https://www.wionews.com/business-economy/india-budget-a-roadmap-to-a-developed-nation-what-to-expect-743238">India budget: A roadmap to a developed nation. What to expect?</a></p>

<p>An interesting trivia related to the time of budget presentation is that the Budget was traditionally presented on the last day of February at 5:00 pm. The timing followed a colonial era practice when the announcements could be made in London and India at the same time. India is 4 hours and 30 minutes ahead of the British Summer Time, and so presenting the budget at 5:00 pm in India ensured that it was happening in the daytime in the United Kingdom.</p>

<p>The timing was changed in 1999 when the then finance minister Yashwant Singh in the Atal Bihari Vajpayee government presented the budget at 11:00 am. Since then budgets are presented at 11:00 am.</p>

<p><em>(With inputs from agencies)</em></p>


Union Budget 2024: Indian Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 in Parliament today. This will be the Modi 3.0 government’s maiden budget for the fiscal 2024-25.

Union Budget 2024: Indian Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 in Parliament today. This will be the Modi 3.0 government’s maiden budget for the fiscal 2024-25. With today’s budget, Sitharaman is set to create history by presenting the budget seven times in a row, surpassing the record of six budgets held by former prime minister Morarji Desai. Sitharaman, 64, was appointed as India’s first full-time woman finance minister in 2019 when Prime Minister Narendra Modi won a decisive second term. Since then, she has presented six straight budgets, including an interim one in February this year. Also Read | Nirmala Sitharaman wears a white checkered handloom saree for Union Budget 2024 The full Budget for the 2024-25 fiscal (April 2024 to March 2025) will be her seventh straight. She will better Desai’s record, who presented five consecutive full budgets and one interim budget from 1959 to 1964. The 2020 budget presented by Sitharaman is also iconic for her speech in the parliament, which was the longest speech in history. Her speech lasted for two hours and 40 minutes. At the time, she cut short her speech with two pages remaining. Former finance minister Manmohan Singh set the record for the longest speech in terms of words. His budget speech consisted of 18,700 words in the 1991 budget presentation. Watch | Budget 2024: Indian youngsters call for tax reforms | Nirmala Sitharaman | Narendra Modi |Vibe Check × This year witnessed two budgets – an interim one in February and a full one this month. This is because an incumbent government cannot present a full Budget just before general elections. The presentation on July 23 will be the first Budget by the BJP-led NDA government since its re-election last month. The budget will be presented at 11:00 am on Tuesday. Also Read | India budget: A roadmap to a developed nation. What to expect? An interesting trivia related to the time of budget presentation is that the Budget was traditionally presented on the last day of February at 5:00 pm. The timing followed a colonial era practice when the announcements could be made in London and India at the same time. India is 4 hours and 30 minutes ahead of the British Summer Time, and so presenting the budget at 5:00 pm in India ensured that it was happening in the daytime in the United Kingdom. The timing was changed in 1999 when the then finance minister Yashwant Singh in the Atal Bihari Vajpayee government presented the budget at 11:00 am. Since then budgets are presented at 11:00 am. (With inputs from agencies)

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