Tag: Nirmala Sitharaman

Budget 2024: Govt commits to boost electric vehicle ecosystem through infrastructure support
1Feb By adminNo Comments
Technology

Budget 2024: Govt commits to boost electric vehicle ecosystem through infrastructure support

[ad_1] Finance Minister Nirmala Sitharaman, in her Budget 2024 speech today, declared that the government aims to bolster the electric vehicle (EV) ecosystem by providing support to both charging and manufacturing infrastructure across the country. In her pre-election Budget - technically a vote on account and commonly referred to as an interim Budget - Sitharaman emphasised the encouragement of electric buses for public transport networks as a pivotal aspect of this strategy."Our government is committed to expanding and fortifying the e-vehicle ecosystem by actively supporting manufacturing and charging infrastructure," stated the finance minister. Additionally, she highlighted the intention to promote the adoption of electric buses in public transport networks through the implementati...
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Tech Budget 2024: Govt launches Rs. 1 lakh cr fund for tech-savvy youth – will offer 50-yr interest-free loans
1Feb By adminNo Comments
Technology

Tech Budget 2024: Govt launches Rs. 1 lakh cr fund for tech-savvy youth – will offer 50-yr interest-free loans

[ad_1] Tech Budget 2024: Finance Minister Nirmala Sitharaman, in her interim Budget 2024 address to Parliament today, unveiled a significant development for the nation's youth. Emphasising the forthcoming golden era for technology-savvy individuals, Sitharaman announced the establishment of a corpus amounting to one lakh crore rupees, accompanied by 50-year interest-free loans. This corpus is designed to facilitate long-term financing or refinancing, offering extended tenors with low or negligible interest rates. The primary objective is to stimulate research and innovation within the private sector, particularly in emerging fields.“We applaud the government's initiative to establish a Rs. 1 lakh crore fund to fuel technological innovation among our youth. This visionary step, offering ...
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Tech Budget 2024: FM Nirmala Sitharaman announces 300 units of free electricity with rooftop solarization
1Feb By adminNo Comments
Technology

Tech Budget 2024: FM Nirmala Sitharaman announces 300 units of free electricity with rooftop solarization

[ad_1] Tech Budget 2024: Today, Finance Minister Nirmala Sitharaman announced the interim budget for 2024-25 with the aim of fostering and speeding up the greater development of India. As part of the announcement, Sitharaman highlighted the installation of rooftop solarization in 1 crore households which will help obtain up to 300 units of free electricity every month. FM further said, “This scheme follows the resolve of the Prime Minister on the historic day of the consecration of Shri Ram Mandir in Ayodhya.” This move will improve India's sustainability goals.Tech Budget 2024The Finance Minister while presenting the interim budget 2024 announcement talked about the rooftop scheme following the resolve of the Prime Minister. The new scheme will empower 1 crore households with a rooftop...
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Budget 2024 expectations in AI: How will India’s tech landscape transform with anticipated initiatives?
1Feb By adminNo Comments
Technology

Budget 2024 expectations in AI: How will India’s tech landscape transform with anticipated initiatives?

[ad_1] Budget 2024 expectations in AI: In the forthcoming Interim Budget 2024, set to be announced by Finance Minister Nirmala Sitharaman at 11 am today, the government is expected to introduce some initiatives on artificial intelligence (AI) and other emerging technologies. As the nation gears up for the 2024 budget, the technology sector is rife with expectations. Key industry figures spanning AI, semiconductors, and edtech have articulated their aspirations and recommendations for the government's fiscal policies.NITI Aayog has advocated a forward-looking strategy, proposing the establishment of Centres of Excellence (CoEs) to fortify AI development and foster application-based research. Over the past five years, AI has not only permeated various sectors but has become a recurring fo...
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Partial relief on tax for online gaming firms? Find out
2Aug By adminNo Comments
Technology

Partial relief on tax for online gaming firms? Find out

[ad_1] After talking tough last time around, the government has sought to provide partial relief to online gaming companies today. Government has decided to levy taxes on online gaming companies on the total funds deposited to play online games and not on every bet, Reuters quoted Finance Minister Nirmala Sitharaman as saying on Wednesday.Last month, the government said it had decided to impose 28% tax on funds that online gaming companies collect from their customers for every bet. The decision to impose a 28 per cent tax on the full face value of bets placed on online games will be implemented from October 1 even though there was demand for a review from states like Delhi and Goa, Finance Minister Nirmala Sitharaman said on Wednesday. The GST Council -- the highest decision making bod...
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Some firms ‘gamed system’, masqueraded as gaming companies to run gambling biz: Chandrasekhar
23Jul By adminNo Comments
Technology

Some firms ‘gamed system’, masqueraded as gaming companies to run gambling biz: Chandrasekhar

[ad_1] Union minister Rajeev Chandrasekhar on Wednesday said some gaming companies "gamed the system", masqueraded as gaming companies to run gambling businesses or did not pay taxes at all in the past.In his comments at Express Adda Live event amid a row over the GST Council's decision to charge 28 per cent tax on online gaming, the Minister of State for Electronics and Information Technology reiterated that he will pitch for lowering the GST on permissible online gaming and has spoken to finance minister Nirmala Sitharaman about the same. Denying that the GST decision to be a "body blow" for the sector as it is made out to be, the entrepreneur-turned politician said there have been "bad actors" in online gaming and states who voted to levy the high GST are conditioned based on the ins...
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GST Council slaps 28% tax on turnover of online gaming firms
11Jul By adminNo Comments
Technology

GST Council slaps 28% tax on turnover of online gaming firms

[ad_1] During its 50th meeting held on Tuesday, Goods and Services Tax (GST) Council has decided to impose a 28% indirect tax on the turnover on online gaming companies. The GST Council, comprised of state finance ministers and chaired by Union Finance Minister Nirmala Sitharaman, had earlier formed a panel to look into taxing casinos, horse racing and online gaming.It has not previously been able to decide whether to impose a 28% GST on the face value of bets, or gross gaming revenue, or just on platform fees. West Bengal finance minister Chandrima Bhattacharya said, “GST Council has decided that online gaming, casinos and horse racing will be taxed at 28 per cent at entry point on full face value of bets," she told reporters here.” Sudhir Mungantiwar, Maharashtra forest cultural and f...
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“Khalistan Movement Fizzling Out”: US Sikhs To Finance Minister
11Apr By adminNo Comments
Business

“Khalistan Movement Fizzling Out”: US Sikhs To Finance Minister

[ad_1] The delegation felicitated Nirmala Sitharaman with traditional SaropaWashington: The steps taken by Prime Minister Narendra Modi in the interest of the Sikh community including their long-pending demands have resulted in the fizzling out of the separatist Khalistan movement, a delegation of Sikh Americans told the visiting Union Finance Minister Nirmala Sitharaman on Monday.Led by its chairman Jasdeep (Jassee) Singh and president Kanwaljit Singh Soni, the delegation felicitated her with traditional Saropa, memento, and flower bouquet.Applauding the Modi Government for being there for Sikhs and for implementing several demands from the Sikh Community in the past nine years, Jassee Singh also said that due to these actions of the prime minister, Khalistan movement has fizzled out in...
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Budget 2023: AI to National Data Governance Policy, FM Sitharaman drives digital agenda
1Feb By adminNo Comments
Technology

Budget 2023: AI to National Data Governance Policy, FM Sitharaman drives digital agenda

[ad_1] Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 today, laying out various proposals to give a boost to the Indian economy in the face of a massive slowdown that has hit the global economy. Underlying all the announcements were the digital initiatives which are expected to boost virtually all the proposals announced today in the Lok Sabha. “The Union Budget 2023 listed multiple initiatives, such as the development of handicrafts, agriculture accelerator funds, push for public-private partnerships for sustainable crops/horticulture, and setting up of multipurpose dairy and fisheries. This will ensure inclusive development of the rural population, and in turn, will give a boost to the sector by enhancing consumption. For months, rural con...
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Budget 2023: What just got cheaper and expensive; check FM’s tech announcements
1Feb By adminNo Comments
Technology

Budget 2023: What just got cheaper and expensive; check FM’s tech announcements

[ad_1] Budget 2023: Finance Minister Nirmala Sitharaman has just presented the Budget in Parliament and here is what is set to get cheaper and expensive in the tech world. It is the fifth consecutive year Finance Minister Nirmala Sitharaman has presented the annual budget in Lok Sabha. The Budget 2023 is very important as it is the last full budget of the current government before next year's parliamentary elections. As the world deals with the economic downturn, which has seen multiple tech companies resorting to mass layoffs, this year's budget was sure to be aligned on pragmatic lines. However, like each year, some things have become more expensive while others have become cheaper. But how did that impact your gadgets such as smartphones? Find out.Budget 2023: What has become cheap...
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