Nirmala Sitharaman | Page 2

Sitharaman said that there is a cocktail of developments which encompasses the dark web and artificial intelligence, web3 and Meta, and also urged the officials to sit up and take note of these

The meetings were held in virtual mode between November 21 and November 28

As the adoption of new technology is necessary for a transparent accounting system, the minister said that the accounting fraternity must examine how new technologies such as blockchain, artificial intelligence, data analytics and cloud computing could be employed

The finance minister said that it was the previous Congress government of Virabhadra Singh in Himachal that discontinued OPS in 2003 and started NPS

This approval will further strengthen India's commitment towards its nationally determined contribution (NDCs) targets, adopted under the Paris Agreement

The finance minister said that we need greater investments also to help in gasification of coal

While pointing out the significance of digitalization that has been laid into medical services, education and software as a service (SaaS) sector, Sitharaman said there is immense potential to take it up further

The economic affairs secretary said that the concerns over the reserves were overblown

The finance minister also added that, internationally, tax authorities are using IoT technology to automate the scanning of goods using e-seals, QR codes and X-ray scanners

The finance minister raised this concern when foreign companies had shown interest in coming to India and vowed to provide every possible support

The finance minister said that the word 'taming inflation' or the word 'keeping it within the tolerance limit', is an exercise of so many different activities and a majority of which is outside the monetary policy in today's circumstances

The Indian finance minister was hinting at the proposed cap on import of Russian oil and gas as proposed by the G7, which India fears will lead to rise in prices

The finance minister said that any legislation for regulation or for banning can be effective only after significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards

Presenting the Union Budget 2022, Finance Minister Nirmala Sitharaman, made a slew of announcements for the startups in the country

The interest income on PF contributions above INR 2.5 lakh per annum will now be taxed at the normal rates

To encourage consumer spending, Sitharaman announced two schemes- a leave travel concession (LTC) cash voucher and special festive advance-mainly aimed at benefitting central government employees

In the fourth tranche of measures, Finance Minister Nirmala Sitharaman announced policy reforms that will help build Atmanirbhar Bharat (self-reliant India)

Named Pradhan Mantri Garib Kalyan Yojana, the stimulus package includes measures related to food security and direct cash transfer. It is expected to benefit urban and rural poor and migrant workers over the next three months.

At INR 69, 000 crore for FY21, the outlay for the health sector in Union Budget 2020 is a marginal improvement over INR 62,659 crore provided in the previous Budget

Data centre parks , national mission on quantum technologies and applications and digitization via BharatNet on the offing

Rejigging of tax slabs appears a welcome move at first however, it is important to look closely into the implications of forgoing your deductions u/s 80C, 80D, 8024(b) etc