Nirmala Sitharaman
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Loans
Government Doubles Loan Limit Under Pradhan Mantri Mudra Yojana to ₹20 Lakh
The Indian government has announced a significant increase in the loan limit under the Pradhan Mantri Mudra Yojana (PMMY), doubling it from ₹10 lakh to ₹20 lakh to foster entrepreneurship across the nation. This decision aims to further the Mudra Scheme’s core objective of financing those who previously lacked access to funds, as stated by the finance ministry on Friday.…
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Business
GST Council Set to Deliberate on Health Insurance Tax Relief and Online Gaming Revenues
The GST Council is set to meet on Monday, September 9, 2024, to discuss a range of important issues, including the taxation of insurance premiums, recommendations on rate changes, and updates on the online gaming sector, according to sources. One of the key topics on the agenda is the GST on life, health, and reinsurance premiums. A report will be…
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Business
Finance Minister Updates Parliament on Crackdown: 2,500+ Fraudulent Loan Apps Removed by Google
Google has removed over 2,500 fraudulent loan apps from its Play Store between April 2021 and July 2022, according to Finance Minister Nirmala Sitharaman’s statement in Parliament. The government, in collaboration with the Reserve Bank of India (RBI), is actively addressing the issue of fraudulent loan apps. The Financial Stability and Development Council (FSDC) regularly monitors and discusses the matter.…
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