Page 83 - Latest Updates on Nirmala Sitharaman
Mamata calls Modi's mega Rs 20 trillion package a 'big zero and eyewash'
West Bengal CM says extension of the deadline to file tax return is not a benefit as people are under lockdown and in any case they cannot meet the earlier deadline
 "Mamata calls Modi's mega Rs 20 trillion package a 'big zero and eyewash'")
15 different measures FM Nirmala Sitharaman announced today
Among 15 measures announced - 6 are for MSMEs, 2 related to EPF and 2 related to MFIs, 1 to discoms, 1 to contractors, 1 to real estate, and 2 tax measures
 "15 different measures FM Nirmala Sitharaman announced today")
TDS rate cut by 25%; period for tax returns extended in Rs 20-trn stimulus
Sitharaman further said the income tax department will fast track processing of pending refunds to charitable trusts, LLPs, non-corporate businesses and proprietorship firms, among others
 "TDS rate cut by 25%; period for tax returns extended in Rs 20-trn stimulus")
Tax break to provident fund: What stimulus has for you and economy
Government support in the form of 12% employer and 12% employee contribution extended for another three months - June, July and August
 "Tax break to provident fund: What stimulus has for you and economy")
Top headlines: TDS rate cut by 25%, ITR filing extended till Nov 30
Business Standard bring to you a snapshot of events which made the news today
 "Top headlines: TDS rate cut by 25%, ITR filing extended till Nov 30")
FM has leveraged banks and PSUs to deliver the goods
The credit angle is interesting for them as the Rs 3 trillion to be disbursed by banks would go as collateral free debt for four years with a 12-month moratorium
 "FM has leveraged banks and PSUs to deliver the goods")
Market Wrap, May 13: Here's All That Happened In The Markets Today
Sectorally, banking stocks rallied the most. The Nifty PSU Bank index jumped over 6 per cent to 1,238.05 while Nifty Bank climbed over 4 per cent to 19,635
 "Market Wrap, May 13: Here's All That Happened In The Markets Today")
Fresh support of only Rs 12-13 trn in economic stimulus: DBS Bank economist
PM Modi outlined a Rs 20-trillion which is 9.7 per cent of GDP support package, of which new allocations could only be 50-60 per cent of the offer
 "Fresh support of only Rs 12-13 trn in economic stimulus: DBS Bank economist")
This shall not be just a financial package, but a reform stimulus: FM
Sitharaman's press conference at 4 PM today comes a day after Prime Minister Narendra Modi announced Rs 20 trillion economic package to deal with Covid-19 situation in the country
 "This shall not be just a financial package, but a reform stimulus: FM")
PM gave headline and blank page, hope Sithraraman will fill it: Chidambaram
Chidambaram said he would count every additional rupee the government infuses into the economy
 "PM gave headline and blank page, hope Sithraraman will fill it: Chidambaram")
PM Modi announces Rs 20 trillion stimulus package to jump-start economy
'Self-reliant India' package is around 10% of GDP; lockdown 4.0 is on with new guidelines
 "PM Modi announces Rs 20 trillion stimulus package to jump-start economy")
Equity markets may cheer Rs 20-trn stimulus package; SGX Nifty jumps 5%
Following the announcement of a Rs 20-trn package, the Nifty contracts traded on the SGX shot up 5%, while the American depository receipts (ADR) of Indian companies gained between 3% and 10%.
 "Equity markets may cheer Rs 20-trn stimulus package; SGX Nifty jumps 5%")
Top 10 biz headlines: Next stimulus package, weak auto sales and more
Business Standard brings you top 10 business headlines of the day
Govt changes tack with plans for bigger stimulus rivaling G-20 peers
Higher borrowing, economy restarting has changed govt's earlier view of smaller measures
 "Govt changes tack with plans for bigger stimulus rivaling G-20 peers")
No proposal to cut salary of central govt employees, says Finance Ministry
The denial comes after television news channel Times Now claimed that the government was planning on cutting salaries of Central Government employees by 30 per cent
 "No proposal to cut salary of central govt employees, says Finance Ministry")
Govt disbursed Rs 18,253 cr to 90 mn farmers under PM-KISAN: FM Sitharaman
Under the PM-KISAN (Pradhan Mantri Kisan Samman Nidhi) scheme, each farmer gets Rs 6,000 in a year in three equal installments directly in bank account
 "Govt disbursed Rs 18,253 cr to 90 mn farmers under PM-KISAN: FM Sitharaman")
FM to discuss credit flow to NBFCs, businesses with banks on Monday
The FM will take stock of the credit sanction and disbursement by the banks since March 1, 2020, and the Covid-19-related emergency credit lines opened by the lenders
 "FM to discuss credit flow to NBFCs, businesses with banks on Monday")
Covid-19: Relief for NRIs, foreign visitors as tax residency rules eased
The government imposed a lockdown on March 24 and is yet to open up travel, including international flights.
 "Covid-19: Relief for NRIs, foreign visitors as tax residency rules eased")
Sitharaman launches two exchanges to take on offshore currency market
The launch comes amid the world's most expansive coronavirus lockdown, which has crippled businesses and hurt trading volumes in the country's financial markets.
 "Sitharaman launches two exchanges to take on offshore currency market")
Govt hikes market borrowing limit by over 50% to Rs 12 trillion
The government resorts to market borrowing to make up for the mismatch between its revenue and expenditure.
