Nirmala Sitaraman Current Affairs - 2020

Finance Minister: Businesses with annual turnover of up to Rs 40 lakhs exempted from GST

On August 24, 2020, the Finance Minister Nirmala Sitaraman announced that the businesses with annual turnover of up to Rs 40 lakhs are exempted from GST. Earlier the limit was Rs 20 lakhs. Highlights The announcement was made through series of tweets on the occasion of first death anniversary of former Finance Minister Arun Jaitley. Read More…

Dashboard for National Infrastructure Pipeline launched

The Finance Minister Nirmala Sitharaman recently launched National Infrastructure Pipeline online dashboard. The dashboard is to act as a one-stop solution for all stakeholders who are looking for information about infrastructure projects. Highlights The Finance Minister had announced an outlay of Rs 100 lakh crore for infrastructure projects in the country for the next 5 Read More…

India attends third G20 Finance Ministers and Central Bank Governors meet

On July 18, 2020, Finance Minister Nirmala Sitaraman participated in third G20 Finance Ministers and Central Bank Governors meet. The meet was presided by Saudi Arabia. Highlights During the first meeting, India shared its G20 Action plan in response to COVID-19 that was endorsed by all the G20 finance ministers and central bank governors. During Read More…

Authority of Advance Ruling: Alcohol based hand sanitizer to attract 18% GST

On July 14, 2020, the Goa Bench of GST Authority of Advance Ruling (AAR) pronounced that alcohol-based sanitizers will attract 18% GST. Highlights The Springfields Distilleries had moved to Goa AAR over the GST rates and the classification of hand sanitizers as essential commodity. The Ministry of Consumer Affairs had recently classified hand sanitizers as Read More…

Rs 14,690 Crore disbursed under Emergency Credit Line Guarantee Scheme

On June 12, 2020, the Ministry of Finance announced that the public sector banks have so far disbursed Rs 14,690 crores for the MSMEs under the Emergency Credit Line Guarantee Scheme (ECLGS). Highlights The credit line of ECLGS is the biggest component of the economic package announced by the Finance Minister under Atma Nirbhar Bharat Read More…