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Amid Adani row, FM says regulators should be on their toes to keep market stable

She said banks and insurance companies are "not overexposed" to any one company and assured that Indian markets are very well managed by its regulators.

Finance Minister Nirmala Sitharaman has said that regulators Sebi and RBI should always be on their toes to keep the equity market stable and indicated that the Adani stock rout following a Hindenburg report was a company specific issue.
She said banks and insurance companies are "not overexposed" to any one company and assured that Indian markets are very well managed by its regulators.
"I don't want to have any view on it except that the regulators should act, act in time, and act to keep the market stable, act to keep India's regulatory functions at its best, whether it is the Reserve Bank, or SEBI. Sitting in the Finance Ministry, my view would be that the regulators should be always on their toes. And that is where I would comment on what's got to be done," Sitharaman said.
The Minister was replying to a question in an interview to Times Now on whether the Adani group stock rout was just a market activity, or this has happened for just one stock.
The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

The bilateral relationship between India and the US has moved forward and deepened, Finance Minister Nirmala Sitharaman said Friday asserting that post the Ukrainian war, she sees more and more windows of opportunities opening.
Sitharaman was here to attend the annual spring meetings of the International Monetary Fund and the World Bank. During her visit, she also held a host of bilateral meetings and participated in many multilateral meetings. She interacted with several top officials of the Biden administration.
"There is an understanding that India's relationship with the United States has actually moved forward. It's gotten deeper. There is no one questioning that,” she told reporters in response to a question on the bilateral relationship.
"But there is also an understanding, not just the legacy dependence for defence equipments on Russia...that India has legacy issues as much as relationships over several decades. And if anything, I can say with a bit of a confidence there is a positive understanding. It is not a negative understanding,” she said.
"I see more and more windows of opportunities opening, rather than (US) keeping an arm's distance saying you've calibrated your position on Russia doesn't seem like you are getting closer to us. No,” she said during an interaction with a group of Indian reporters in Washington DC at the conclusion of her trip.
Sitharaman explained the developments in the Indo-Pacific region and the recently concluded 2+2 ministerial dialogue, which was topped off by a virtual meeting between Prime Minister Narendra Modi and President Joe Biden.
"Post that my meetings here have gone fairly well and it doesn't seem to ranker people that you've balanced, you've calibrated your position,” she said.
"Also the discussions which are going on the Framework for Indo Pacific Economic Relationship is also gaining quite a lot of traction and PM said he would consider it,” she said.
She said India's relationship with the US is improving each day.
"This recognition that there is a friend, but that friend's geographical location is got to be understood. And a friend cannot be weakened for any reason. Geographical appreciation of where we are located...northern borders being under tension even despite Covid, the western border constantly at odds and sometimes even the equipment's given to meet the terrorist issues in Afghanistan being diverted to hit at us these developments nobody can have an alternative,” said the finance minister.
It is not as if India has a choice to relocate itself, she said. India certainly wants a friendship with the United States. "But if the US also wants a friend, the friend can be a weak friend, the friend should not be weakened. We are taking decisions, we are taking calls, we are taking calibrated position because we need to be strong where we are given the geographical locational realities,” Sitharaman said.

Watch | FM Nirmala Sitharaman on India-US relationship, deepening ties

The bilateral relationship between India and the US has moved forward and deepened, Finance Minister Nirmala Sitharaman said Friday asserting that post the Ukrainian war, she sees more and more windows of opportunities opening.
Sitharaman&nbsp;was in US to attend the annual meeting of IMF&nbsp;and World Bank.
During her visit she held many bilateral meetings.&nbsp;
Sitharaman&nbsp;provided context for the recent developments in the Indo-Pacific region and the recently concluded 2+2 ministerial dialogue which was followed by a virual&nbsp;meeting between PM Modi and US president Joe Biden.
captions:
Sitharaman&nbsp;in US to attend IMF, World Bank meeting
Deepening India-US&nbsp;bilateral relationship: FM Sitharaman
More windows of opportunities opening after Ukraine war: FM
Geographic location of India got to be understood: FM
'India can't relocate itself, wants friendship with US'

Nirmala&nbsp;Sitharaman is in US for World Bank, IMF&nbsp;meetings. Asserts improving relationship between US and India. India's geographical location, legacy key in recent developments

The bilateral relationship between India and the US has moved forward and deepened, Finance Minister Nirmala Sitharaman said Friday asserting that post the Ukrainian war, she sees more and more windows of opportunities opening.
Sitharaman was here to attend the annual spring meetings of the International Monetary Fund and the World Bank. During her visit, she also held a host of bilateral meetings and participated in many multilateral meetings. She interacted with several top officials of the Biden administration.
"There is an understanding that India's relationship with the United States has actually moved forward. It's gotten deeper. There is no one questioning that,&rdquo; she told reporters in response to a question on the bilateral relationship.
Also watch |&nbsp;<a href="https://www.editorji.com/editorji-specials/the-india-story/the-india-story-diplomacy-deep-dive-uk-pm-in-india-fm-in-us-signals-india-is-open-for-business-1650638144463" target="_blank">The India Story | Diplomacy deep dive: UK PM in India, FM in US signals India is 'open for business'</a>
"But there is also an understanding, not just the legacy dependence for defence equipments on Russia...that India has legacy issues as much as relationships over several decades. And if anything, I can say with a bit of a confidence there is a positive understanding. It is not a negative understanding,&rdquo; she said.
"I see more and more windows of opportunities opening, rather than (US) keeping an arm's distance saying you've calibrated your position on Russia doesn't seem like you are getting closer to us. No,&rdquo; she said during an interaction with a group of Indian reporters in Washington DC at the conclusion of her trip.
Sitharaman explained the developments in the Indo-Pacific region and the recently concluded 2+2 ministerial dialogue, which was topped off by a virtual meeting between Prime Minister Narendra Modi and President Joe Biden.
"Post that my meetings here have gone fairly well and it doesn't seem to ranker people that you've balanced, you've calibrated your position,&rdquo; she said.
"Also the discussions which are going on the Framework for Indo Pacific Economic Relationship is also gaining quite a lot of traction and PM said he would consider it,&rdquo; she said.
She said India's relationship with the US is improving each day.
"This recognition that there is a friend, but that friend's geographical location is got to be understood. And a friend cannot be weakened for any reason. Geographical appreciation of where we are located...northern borders being under tension even despite Covid, the western border constantly at odds and sometimes even the equipment's given to meet the terrorist issues in Afghanistan being diverted to hit at us these developments nobody can have an alternative,&rdquo; said the finance minister.
It is not as if India has a choice to relocate itself, she said. India certainly wants a friendship with the United States. "But if the US also wants a friend, the friend can be a weak friend, the friend should not be weakened. We are taking decisions, we are taking calls, we are taking calibrated position because we need to be strong where we are given the geographical locational realities,&rdquo; Sitharaman said.
Also Watch|&nbsp;<a href="https://www.editorji.com/editorji-specials/the-india-story/decoded-nirmala-sitharaman-s-visit-in-washington-bid-to-boost-india-us-trade-ties-1650637495202" target="_blank">Decoded | Nirmala Sitharaman's visit in Washington: Bid to boost India-US trade ties?</a>

The Ministry of Information and Broadcasting has directed FM radio channels not to air vulgar and objectionable content, failing which stern action will be taken against them.
The ministry said airing such content is in gross violation of the Grant of Permission Agreement (GOPA).
"It has come to notice of the Ministry of Information and Broadcasting that vulgar and objectionable content is very often being broadcast on several FM Radio channels.
"It has also been noticed that the language used by many radio jockeys is indecent, dual meaning and offensive. They often make defamatory and derogatory comments which do not appear to be in good taste," the ministry said in a recent advisory.
It said clause 7.6 of Grant of Permission Agreement (GOPA) provides that the permission holder shall ensure that no content, messages, advertisement or communication, transmitted on its broadcast channel is objectionable, obscene, unauthorised or inconsistent with the laws of India.
Airing such type of content is in gross violation of GOPA, which also provides that the permission holder shall follow the same program and advertisement code as followed by the All India Radio (AIR), the ministry said.
"The ministry in exercise of powers flowing from the GOPA hereby advises all FM Radio channels to strictly adhere to the terms and conditions prescribed and not to air any content in violation thereof. All the channels must exercise discretion and restraint in broadcast of such contents.
"Strict compliance to the above direction should be ensured by all FM radio channels. Any violation shall entail such penal action as deemed fit in accordance with terms and conditions laid down in GOPA," it said.

Refrain from using 'vulgar, dual meaning content': Govt warns FM Radio channels 

The Ministry of Information and Broadcasting has directed FM radio channels not to air what it called vulgar and objectionable content.
The ministry said airing such content is in gross violation of the Grant of Permission Agreement and failing which stern action will be taken against them.
The Ministry said that it has come to its notice that vulgar and objectionable content is very often being broadcast on several FM Radio channels.
The ministry said in a recent advisory that it has also been noticed that the language used by many radio jockeys is indecent, dual meaning and offensive.&nbsp;
&nbsp;

The ministry said airing such content is in gross violation of the Grant of Permission Agreement and failing which stern action will be taken against them.

The Ministry of Information and Broadcasting has directed FM radio channels not to air vulgar and objectionable content, failing which stern action will be taken against them.
The ministry said airing such content is in gross violation of the Grant of Permission Agreement (GOPA).
"It has come to notice of the Ministry of Information and Broadcasting that vulgar and objectionable content is very often being broadcast on several FM Radio channels.
"It has also been noticed that the language used by many radio jockeys is indecent, dual meaning and offensive. They often make defamatory and derogatory comments which do not appear to be in good taste," the ministry said in a recent advisory.
It said clause 7.6 of Grant of Permission Agreement (GOPA) provides that the permission holder shall ensure that no content, messages, advertisement or communication, transmitted on its broadcast channel is objectionable, obscene, unauthorised or inconsistent with the laws of India.
Airing such type of content is in gross violation of GOPA, which also provides that the permission holder shall follow the same program and advertisement code as followed by the All India Radio (AIR), the ministry said.
"The ministry in exercise of powers flowing from the GOPA hereby advises all FM Radio channels to strictly adhere to the terms and conditions prescribed and not to air any content in violation thereof. All the channels must exercise discretion and restraint in broadcast of such contents.
Also watch:&nbsp;<a href="https://www.editorji.com/story/trp-focused-journalism-can-never-be-good-union-i-b-minister-1606152681323" target="_blank">TRP-focused journalism can never be good: Union I&amp;B minister&nbsp;</a>
"Strict compliance to the above direction should be ensured by all FM radio channels. Any violation shall entail such penal action as deemed fit in accordance with terms and conditions laid down in GOPA," it said.

Finance Ministry officials have asked for meeting with Infosys to iron out glitches in the newly launched income tax e-filing portal, which Infosys has developed for Income Tax department.
The meeting comes just a few days after FM Nirmala Sitharaman took to social media, asking Nandan Nilekani and Infosys to troubleshoot the&nbsp;to resolve &ldquo;grievances and glitches"&nbsp;in the e-filing system.&nbsp;
Commissioner of Income Tax stated that "The new portal has been fraught with several technical glitches leading to taxpayer inconvenience. Written representations on the problems' difficulties faced in the portal have also been invited from the stakeholders."The meeting will take place on June 22&nbsp; and will include stakeholders including ICAI, auditors, consultants and taxpayers.
Infosys was awarded the contract in 2019 to simplify the income tax return filing system.&nbsp;The system went live on June 7 night and ran into glitches at the very start , many troubled taxpayers tweeted their issues tagging the finance minister.

Fin Min & Infosys meet to discuss glitches in tax return e-filing portal

Finance Ministry officials summoned&nbsp;Infosys&nbsp;for a meeting to iron out glitches in the newly launched income tax e-filing portal.

Finance Ministry officials have asked for meeting with Infosys to iron out glitches in the newly launched income tax e-filing portal, which Infosys has developed for Income Tax department.
The meeting comes just a few days after FM Nirmala Sitharaman took to social media, asking Nandan Nilekani and Infosys to troubleshoot and resolve &ldquo;grievances and glitches"&nbsp;in the e-filing system.&nbsp;
Commissioner of Income Tax stated that "The new portal has been fraught with several technical glitches leading to taxpayer inconvenience." The meeting will take place on June 22&nbsp; and will include stakeholders including ICAI, auditors, consultants and taxpayers.
Infosys was awarded the contract in 2019 to simplify the income tax return filing system.&nbsp;The system went live on June 7 night and ran into glitches at the very start , many troubled taxpayers tweeted their issues tagging the finance minister.

In a response to&nbsp;West Bengal chief minister Mamata Banerjee's letter to Prime Minister Narendra Modi seeking exemption from GST&nbsp;on&nbsp;Covid&nbsp;related drugs and vaccines,&nbsp;Finance Minister Nirmala Sitharaman&nbsp;in a series of tweets&nbsp;on Sunday said GST exemption to domestic supplies and commercial import of Covid drugs, vaccines and oxygen concentrators would make these items costlier for consumers as manufacturers would not be able to offset the taxes paid on inputs.&nbsp;
Currently, domestic supplies and commercial imports of vaccines attract a 5 per cent Goods and Services Tax (GST), while it is 12 per cent in case of COVID drugs and oxygen concentrators.&nbsp;
A 5 per cent GST rate ensures that the manufacturer is able to utilise ITC and in case of overflow of ITC, claim refund. Hence exemption to vaccines from GST would be counterproductive without benefiting the consumer," Sitharaman tweeted.

FM Sitharaman responds to vaccine GST exemption letter written by Bengal CM

Sitharaman replies to Mamata, explains GST on vaccines
GST removal on Covid-19 drugs will make them costlier: FM GST&nbsp;of 5% imposed on commercial imports of Covid&nbsp;vaccine
&nbsp;

In a response to&nbsp;West Bengal chief minister Mamata Banerjee's letter to Prime Minister Narendra Modi seeking exemption from GST&nbsp;on&nbsp;Covid&nbsp;related drugs and vaccines,&nbsp;Finance Minister Nirmala Sitharaman&nbsp;has said that&nbsp;GST exemption would make these items costlier. The FM tweet that a&nbsp;5 per cent GST rate ensures that the manufacturer is able to utilise ITC and in case of overflow of ITC, claim refund. Hence exemption to vaccines from GST would be counterproductive without benefiting the consumer. 
Currently, domestic supplies and commercial imports of vaccines attract a 5 per cent Goods and Services Tax, while it is 12 per cent in case of Covid drugs and oxygen concentrators.&nbsp;&nbsp;

19 lakh jobs, free Covid vaccine: BJP's Bihar manifesto

The ruling BJP has&nbsp;promised 19 lakh jobs and free coronavirus vaccination for all in its manifesto for the Bihar election starting next week.

With less than a week to go for the first phase of polling in Bihar, the BJP on Thursday&nbsp;released its manifesto. In an answer to RJD's promise of 10 lakh jobs, the BJP has promised&nbsp;19 lakh jobs in its poll document. Speaking at the launch of the manifesto finance minister Nirmala Sitharaman also also promised once a vaccine for Covid-19 is available on a mass scale, every person in Bihar will get it for free. The BJP&nbsp;is the first party to include vaccine, which is still under works, in its manifesto.&nbsp;((Byte Nirmala&nbsp;Sitharaman: free covid&nbsp;vaccine)))

With less than a week to go for the first phase of polling in Bihar, the BJP on Thursday&nbsp;released its manifesto. In an answer to RJD's promise of 10 lakh jobs, the BJP has promised&nbsp;19 lakh jobs in its poll document. Speaking at the launch of the manifesto finance minister Nirmala Sitharaman also also promised once a vaccine for Covid-19 is available on a mass scale, every person in Bihar will get it for free. Praising the NDA govt's performance, the FM said that GDP in Bihar has seen a sharp rise under NDA rule. "The GDP has grown from 3% to 11.3% in the state in the last 15 years of NDA government and not during the 15 years of jungle raj. It was made possible because our govt gave priority to good governance for people," Sitharaman stated.

Can’t borrow: FM says consensus on GST shortfall evasive 

The stalemate over the GST dues between the Centre and the states continues as a meeting of the GST Council on Monday failed to reach a consensus.&nbsp;Finance Minister Nirmala Sitharaman said that no consensus&nbsp;was&nbsp;arrived at on way to make up for GST shortfall of states&nbsp;after GST Council meeting.&nbsp;She said the Centre cannot borrow to make up for GST shortfall of states as it will lead to rise in borrowing cost.&nbsp;

Can’t borrow: FM says GST Council failed to reach consensus on dues 

The stalemate over the GST dues between the Centre and the states continues as a meeting of the GST Council on Monday failed to reach a consensus.&nbsp;Finance Minister Nirmala Sitharaman said that no consensus&nbsp;was&nbsp;arrived at on way to make up for GST shortfall of states&nbsp;after GST Council meeting.&nbsp;She said the Centre cannot borrow to make up for GST shortfall of states as it will lead to rise in borrowing cost. (SOT)
GST&nbsp;meet fails to reach&nbsp;consensus on compensating states FM:&nbsp;Centre cannot borrow to make up for GST shortfall

The stalemate over the GST dues between the Centre and the states continues as a meeting of the GST Council on Monday failed to reach a consensus.&nbsp;Finance Minister Nirmala Sitharaman said that no consensus&nbsp;was&nbsp;arrived at on way to make up for GST shortfall of states&nbsp;after GST Council meeting.&nbsp;She said the Centre cannot borrow to make up for GST shortfall of states as it will lead to rise in borrowing cost.&nbsp;

₹10,000 interest-free festival advance for govt employees: FM

Finance minister Nirmala&nbsp;Sitharaman on Monday announced a one-time ₹10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.&nbsp;This ₹10,000 advance will come as a pre-paid rupay card, which can be availed and spent by March 31, 2021.&nbsp;The repayment will be in 10 installments, Sitharaman said adding that ₹4,000 crore is likely to be spent on this.

Finance minister Nirmala&nbsp;Sitharaman on Monday announced a one-time ₹10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.&nbsp;This ₹10,000 advance will come as a pre-paid rupay card, which can be availed and spent by March 31, 2021.&nbsp;The repayment will be in 10 installments, Sitharaman said adding that ₹4,000 crore is likely to be spent on this.
&nbsp;

Finance minister Nirmala&nbsp;Sitharaman on Monday announced a one-time ₹10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.&nbsp;This ₹10,000 advance will come as a pre-paid rupay card, which can be availed and spent by March 31, 2021.&nbsp;The repayment will be in 10 installments, Sitharaman said adding that ₹4,000 crore is likely to be spent on this.

GST meet inconclusive, FM says will release $20,000 cr to states

The Centre and the states on Monday could not reach any consensus on the pending compensation issue&nbsp;at the 42nd Goods and Services Tax Council meet&nbsp;on Monday.&nbsp;

GST meet inconclusive, FM says will release $2000 cr to states

GST&nbsp;Council meet remains inconclusive FM says will release ₹20,000 cr to states 21 states opted for one of the 2 options: Nirmala Council also discussed long-pending issue of IGST

The Centre and the states on Monday could not reach any consensus on the pending compensation issue&nbsp;at the 42nd Goods and Services Tax Council meet&nbsp;on Monday. This as Finance Minister&nbsp;Nirmala Sitharaman&nbsp;said compensation cess collected this year amounting to about ₹20,000 crore would be disbursed to all states by Monday night. Sitharaman said 21 states had opted for one of the two options the Centre had previously suggested for borrowing to meet the shortfall in GST collections.&nbsp;Briefing reporters after the GST meeting, Sitharaman said the GST Council had also discussed the long-pending issue of Integrated Goods and Services Tax.

'Will messenger of God explain...': Chidambaram's swipe at FM

"Messenger of God": Senior Congress leader P Chidambaram has taken a swipe at Finance Minister Nirmala Sitharaman over the "act of God" comment

Senior Congress leader P Chidambaram has taken a swipe at Finance Minister Nirmala Sitharaman over the "act of God" comment. The FM had on Thursday called Covid pandemic an "act of God" which has impacted GST collection. "Will the messenger of God explain the govt's mismanagement of economy before the Covid crisis began," Chidambaram asked in a sarcastic tweet attack on Sitharaman on Saturday. Chidambaram, and other senior Congress leaders, have pointed to a steady decline in quarterly GDP growth rates - from 7.1 per cent in second quarter of 2018/19 to 3.1 per cent in fourth quarter of 2019/20.

Senior Congress leader P Chidambaram has taken a swipe at Finance Minister Nirmala Sitharaman over the "act of God" comment. The FM had on Thursday called Covid pandemic an "act of God" which has impacted GST collection. "Will the messenger of God explain the govt's mismanagement of economy before the Covid crisis began," Chidambaram asked in a sarcastic tweet attack on Sitharaman on Saturday. Chidambaram, and other senior Congress leaders, have pointed to a steady decline in quarterly GDP growth rates - from 7.1 per cent in second quarter of 2018/19 to 3.1 per cent in fourth quarter of 2019/20.&nbsp;

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