Nirmala Sitharaman - The Purbottar

19 Apr

Biggest risk of cryptocurrency could be money laundering, its use for financing terror: Nirmala Sitharaman

editor0 CommentsEconomyNirmala Sitharaman

Amidst the pioneering fintech revolution, the biggest risk of cryptocurrency could be money laundering and its use for financing terror, said Union Minister of Finance Nirmala Sitharaman. In her address at a seminar during the ongoing spring meet of the International Monetary Fund, Sitharaman said: “I think the biggest risk for all countries across the board will be the money laundering aspect and also the aspect of currency being used for financing terror.” Regulation using technology will have to be so adept, that it has to be not behind the curve, but be sure that it is on the top…

18 Feb

Nirmala Sitharaman’s Sharp Rebuttal After Manmohan Singh Attacks PM Modi

editor0 CommentsIndiaNirmala Sitharaman

Hitting back at former Prime Minister Manmohan Singh for his criticism of the Modi government's handling of economy, Finance Minister Nirmala Sitharaman said he is more remembered for having brought India to "fragile five" and rampant inflation during his term. She also referred to recent revelations about former NSE chief Chitra Ramkrishna having taken guidance of a 'Himalayan Yogi' in running the country's biggest stock exchange and said Mr Singh was not even aware how the bourse was being run for so long when he was in power. She compared data on export, FDI and inflation during the Modi government…

13 Sep

Vaccination is the medicine to boost economy: Finance minister Sitharaman

editor0 CommentsIndiaECONOMY, Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Sunday said that vaccination is the only medicine to boost the economy because it allows people to do business or farmers to cultivate their produce. She further added that 73 crore people in the country have taken the dose of the COVID-19 vaccine. She said: "The vaccination drive is going on smoothly in the country and so far 73 crore people have taken free doses of vaccine. Today, because of the vaccination programme, people have been able to do their business, buy products to run business, boost the economy. Therefore, vaccination is the only medicine…

17 Aug

Fuel pricing: Finance minister Nirmala Sitharaman blames UPA’s oil bonds

editor0 CommentsBusiness@petrol price, Nirmala Sitharaman

The government would have easily given relief from high oil prices if it did not had to bear the cost of oil bonds that the previous government had issued to companies, Finance Minister Nirmala Sitharaman told reporters today.The United Progressive Alliance (UPA) government under former Prime Minister Manmohan Singh had issued oil bonds - or instruments in lieu of cash subsidy to oil marketing companies - that are up for redemption now. "If I had not incurred the UPA's oil bonds worth over Rs 1. 4 lakh crore, I would have given relief from petroleum prices," Ms Sitharaman said, explaining…

26 Jul

No plan to print currency notes to tide over crisis: FM

editor0 CommentsBusiness, Indiafinanceminister, Nirmala Sitharaman

The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the Finance Minister said, “No Sir”. Many economists and experts have suggested the government to resort to printing more currency notes to support the economy ravaged by the spread of COVID-19, and protect jobs. India’s real Gross Domestic Product (GDP) is estimated to have contracted by 7.3 per cent during 2020-21, Sitharaman…