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Finance minister Nirmala Sitharaman to hold pre-budget consultations with leading economists today
Federal Finance Minister Nirmala Sitharaman (Nirmala Sitharaman) will hold pre-budget consultations with prominent economists on Wednesday. The meeting will be held in a virtual way.
“Federal Minister of Finance Nirmala Sitharaman will host a pre-budget consultation with prominent economists in New Delhi on the afternoon of December 22, 2021, to discuss the upcoming 2022-23 total budget,” The Ministry of Finance said in a tweet on Tuesday. Since December 15th, Sitharaman has been conducting pre-budget consultations with representatives of various departments. She sought input from industry bodies, farmer organizations, economists, and service industry experts to restore consumption and growth hit by the ongoing coronavirus disease (Covid-19) pandemic.
The first meeting of the Union Finance Ministers was with agricultural experts and agro-processing industries. To date, Sitharaman has held six such pre-budget consultations, the most recent on December 18 with stakeholders from health, education, rural development, and water and sanitation.
She will submit the union budget on February 1 next year.
In addition to Sitharaman’s pre-budget consultations, Indian Prime Minister Narendra Modi (Narendra Modi) has also been meeting with industry leaders. On Monday, he had pre-budget interactions with chief executives of companies from all walks of life. During the interaction, Prime Minister Modi talked about the country’s inherent strength in the fight against the Covid-19 pandemic.
Modi said: “Just like this country is eager to be on the podium at the Olympics, this country also wants to see our industry rank among the world’s top five in all fields. This is the goal we should work together.” (PMO) statement.
He thanked the CEOs for their input and suggestions, and warned them to make full use of policies such as production-linked incentive programs.
The prime minister emphasized policy reforms, saying that the center is firmly committed to taking measures that can promote India’s economic progress.
Complete News Source : Hindustan Times
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Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.
As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.
Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.
Congress demands JPC probe
Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.
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Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.
He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.
The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.
“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.
Other Oppn leaders join attack
Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.
Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.
ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%
Adani stocks latest updates
The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.
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