The government is likely to announce a Rs 3 lakh crore stimulus for the stressed sectors in an earnest attempt to revive demand and generate employment. On May 31, 2019, Sitharaman joined the office as the Finance and Corporate Affairs Minister and is India's first full-time female Finance Minister. The new measures are mostly focused on generating demand through various new schemes including interest subsidy on loans. She had her schooling from Madras and Tiruchirappalli. S&P BSE Sensex is down over 300 points while Nifty is trading lower by 80 points. Copyright © 2020 Printline Media Pvt. The exam, called IND-SAT, will be held in African and Asian countries, for benchmarking foreign candidates, Sitharaman said. Sitharaman has served at the Pricewaterhouse Coopers as a senior manager and later on for BBC World Service. She has also worked as a Senior Manager (Research and Development department) for PWC (PricewaterhouseCoopers) and at the BBC World Service. These are some of the sectors that have been affected badly by the pandemic. She wa… On the elevated food prices, Bajaj said it is a temporary phenomenon and the government has taken some measures to cool down prices. Read below to find about her early life, education, political career, recognitions and more. After the COVID-19 crisis, Sitharaman became the in-charge of the COVID-19 Economic Response Task Force. However, she did not give any details on where these would be set up, or by when. The government is also expected to announce measures that are likely to help stressed sectors like aviation, hospitality and services. Nirmala Sitharaman participated in the first BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under the BRICS Russian Chairmanship on Monday. [16], On 3 September 2017, she was appointed as Minister of Defence, being only the second woman after Indira Gandhi to hold the post, but the first full-time female defence minister. For reprint rights: Times Syndication Service, TIMESOFINDIA.COM | Updated: May 31, 2019, 13:56 IST, NEW DELHI: The government on Friday appointed, Nirmala Sitharaman - A brief profile of new finance minister, October retail inflation likely above 7% again: Poll, Auto retail sales decline by 24% in October, says FADA, Joe Biden's business plan effect on certain sectors in India, Patna decked up with posters wishing Tejashwi Yadav on his 31st birthday, 20 Best Traditional Diwali Recipes and Homemade Sweets, Kamala Harris reveals her love for indian food, Ankle Boots For Men:Stylish boots for winters, Amazon Sale on Books: Get up to 60% off on bestsellers, Terms of Use and Grievance Redressal Policy, Sitharaman was the defence minister under the previous Narendra Modi government, She joined the Bharatiya Janata Party (BJP) in 2008, and was made a member of the national executive. In 2006, Nirmala Sitharaman joined Bhartiya Janata Party (BJP) and became the national spokesperson of BJP in 2010. [21] Sitharaman presented the Union Budget 2020–21 on 1 February 2020. from Jawaharlal Nehru University, Delhi in 1984. Arnab Goswami Biography: Early Life, Education, Career, Controversies and Achievements. Nirmala Sitharaman also talked about the much-anticipated National Education Policy, which can be announced any time now. A National Research Foundation (NRF) was announced in Budget 2019-20, pushing the total allocation for research up to Rs 609 crore from Rs 350 crore. And with most business activities opening up, the government expects its fresh economic package to generate more demand. She has served as the Minister of State for Finance and Corporate Affairs under the Ministry of Finance and the Minister for Commerce and Industry with independent charge. Nirmala Sitharaman was born in a Tamil Iyengar Brahmin family and her father was an Indian Railways employee. She successfully contested her seat from Karnataka. Nirmala Sitharaman to unveil another stimulus package soon, says Economic Affairs Secretary The finance minister last month had announced a slew of measures to spur demand and ramp-up capital expenditure. This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. [32][26][33], "Who Gets What: Cabinet Portfolios Announced. The Finance Ministry is looking into suggestions and requests received from various sectors of the economy, he said in a virtual conference with media. On February 1, 2020, she presented Union Budget 2020-21. According to a top Bihar BJP leader, 'Atmanirbhar Bihar' will be the key feature of the BJP's manifesto. Nirmala Sitharaman read the education budget along with the one for skills, focussing on employment generation and making students job-ready. [22] During the COVID-19 pandemic in India she was made in-charge of the COVID-19 Economic Response Task Force. [10][11][12] She then enrolled for a Ph.D. in Economics with a focus on Indo-Europe trade; but a move to London after her husband secured a scholarship in London School of Economics left her unable to complete the degree. Both Prime Minister and Finance Minister have indicated that this huge package will revive the Indian economy and will support people from all walks of life amidst the pandemic. While Nirmala leaned towards the BJP, her husband was from a Congress family. For the school education sector, there is a lot of focus on improving foundational literacy and making pre-school a part of formal schooling, which will require funds. The current Finance Minister Nirmala Sitharaman is an Indian politician who also serves as Minister of Corporate Affairs of India. It is set to include many schemes for both the higher education and school education sectors. This time the focus is expected to be on middle income groups, MSMEs and some stressed sectors. Nirmala Sitharaman (ANI file photo) NEW DELHI: The Bharatiya Janata Party will on Thursday release its election manifesto for the Bihar assembly polls. ', Aatma Nirbhar Bharat Abhiyan: All you need to know about the package announced by Prime Minister Modi. MSMEs are also expected to get a fresh benefit, which will replace the older credit guarantee scheme. Finance Minister Nirmala Sitharaman will share the details about the 'Aatma Nirbhar Bharat Abhiyan' package today at 4 pm via a press conference at the National Media Centre. She announced an apprenticeship degree and diploma programmes, and said these would be provided by 150 higher education institutions. India needs free, fair, non-hyphenated and questioning journalism even more as it faces multiple crises. She is a member of the Rajya Sabha, upper house of the Indian Parliament, since 2014. While the stimulus package is unlikely to include direct cash transfer benefits, it will include subsidies and measures focused on generating demand. ThePrint has the finest young reporters, columnists and editors working for it. Nirmala Sitharaman appointed new finance minister, replaces Arun Jaitley. The Times of India News App for Latest Business News, Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. However, the government had earlier said that it would announce benefits for these sectors after the pandemic situation improves in the country. The government had recently come up with two festive schemes to spur demand. The overall allocation for the sector went up by over Rs 5,000 crore — it will be Rs 99,300 crore in 2020-21, up from Rs 94.853.64 crore in 2019-20. On Tuesday, PM Modi in his fifth address to the nation, since the countrywide lockdown, announced this package to make India self-reliant and urged the people to become vocal for local products, i.e., use of swadeshi. Education: Graduated from Seethalakshmi Ramaswami College, Tiruchirapalli & M. Phil in International Studies from Jawaharlal Nehru University, New Delhi. [19] She is India's first full-time female finance minister. In its defence, the government had said that it would announce further measures in future to boost demand, based on the pandemic situation. Nirmala Sitharaman met her husband Parakala Prabhakar while studying at JNU. The finance minister will come out and speak to you on that,” he said. This was the third stimulus package since the outbreak of the COVID-19 pandemic. Not votes in election but top lawyers in courts, what Congress offers allies | Opinion, Is 2020 the worst year for civilisation? Also Read | Union Cabinet approves incentives worth Rs 2 lakh crore to boost manufacturing. Smt. She announced an apprenticeship degree and diploma programmes, and said these would be provided by 150 higher education institutions. Sustaining journalism of this quality needs smart and thinking people like you to pay for it. [23][24], Nirmala Sitharaman worked as a salesperson at Habitat, a home decor store in London's Regent Street. Nirmala Sithraman is a Rajya Sabha MP since 2014. Hi folk, Allow me to help you with your query. (Photo: Reuters), Finance Minister Nirmala Sitharmana will address a press conference at 12:30 pm today. Union finance minister Nirmala Sitharaman will address a press conference at 12:30 pm on Thursday, a government statement said without divulging more Ltd. All rights reserved. On the recovery, Bajaj said India continues to see an uptick in the economy for the past few months since the unlock began and there would be further improvement in the months to come. She also served as an assistant to an Economist of Agricultural Engineers Association (UK). “The National Education Policy will be announced soon. ThePrint has the finest young reporters, columnists and editors working for it. The fresh stimulus package, which has been in the works for more than three months, is expected to focus on a few stressed sectors, middle income groups and MSMEs. Sustaining journalism of this quality needs smart and thinking people like you to pay for it. New Delhi: Finance Minister Nirmala Sitharaman announced in the Union Budget 2020-21 that the education sector would be opened up to Foreign Direct Investment. The best of journalism is shrinking, yielding to crude prime-time spectacle. 2- She was also ranked as the 34th most powerful women in the world in 2019 by Forbes Magazine. Very soon it will be unveiled. 11:45 AM: What to expect? In 2014, she was inducted into Narendra Modi's cabinet as a junior minister and in June 2014, she was elected as a Rajya Sabha Member from Andhra Pradesh.

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