New Delhi [India], February 27 (ANI): Carrying forward the momentum on the PM GatiShakti national master plan announced in this year's Union Budget, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry (MoCI) is organizing its first Post Budget Webinar titled 'Creating Synergies for Accelerated Economic Growth' on Monday, said a press release.

Mumbai Feb 22 PTI Finance Minister Nirmala Sitharaman on Tuesday said the Russia-Ukraine tension and a surge in crude oil prices pose risk to the financial stability of the country and the government is closely monitoring the situation The finance minister was on a two-day post-Budget outreach programme in the countrys financial capital starting Monday She chaired the 25th meeting of the Financial Stability and Development Council FSDC and also met heads of banks NBFCs and financial institutions later Even today in the FSDC meeting when we were looking at the challenges posed for financial stability crude was one of the things International worrisome situations where we actually voiced that we want diplomatic solutions for the situation developing in Ukraine all these are headwinds she told reporters The finance minister said the government is keeping a watch on crude prices and the geopolitical situation Crude oil prices soared by nearly 4 per cent to USD 99 a barrel on Tuesday after Russia recognised two separatists states of eastern Ukraine When asked about the impact of the Russia-Ukraine crisis on India she said At this moment the impact on our trade is yet to be felt We are careful that our exporters dont suffer The Finance Minister said there is no adversarial relationship between states and the Centre on GST compensation Sitharaman said the GST council has decided that the compensation cess collection will continue up to March 2026 It is extended to pay the money which has to be paid for the 2020 gap that arose in the compensation and also for paying the interest on the borrowed money the minister said Speaking on the inclusion of the countrys government bonds in the global bond index Department ofEconomic Affairs Secretary Ajay Seth said All those conditions that are needed to include government bond rupee bond in the global indices are all been met Much later on taxation issues have been brought in All those conversations are still continuing He also said the government is committed to fiscal deficit being kept within 69 per cent In the meeting held on Tuesday FSDC noted that the government and all regulators need to maintain constant vigil on the financial conditions and functioning of important financial institutions especially considering that it could expose financial vulnerabilities in the medium and long-term according to an official release The Council discussed measures required for further development of the financial sector and to achieve an inclusive economic growth with macroeconomic stability Those attended the FSDC meeting included MoS Finance Bhagwat Kishanrao Karad RBI Governor Shaktikanta Das Finance Secretary and Expenditure Secretary T V Somanathan Economic Affairs Secretary Ajay Seth Revenue Secretary Tarun Bajaj and Financial Services Secretary Sanjay Malhotra among others In the meeting with the banks NBFCs and financial institutions the finance minister exhorted all the banks to sign up to the account aggregator model which would facilitate seamless flow of credit for small borrowers and promote digital lending The meeting deliberated on the various budget announcements in the context of PM GatiShakti defence telecom manufacturing exports Emergency Credit Line Guarantee Scheme ECLGS and tax concessions to new manufacturing units and start-ups which offer new opportunities to the financial sector a separate official release said In the meeting it was highlighted that banks with a record profit of Rs 122 lakh crore in FY21 and Rs 079 lakh crore in HY22 declining gross NPA figures to 690 as on September 21 and sufficient buffers with all time high CRAR of 165 per cent as on September 2021 against the regulatory mandate of 115 per cent banksare in a strong position to support future growth enabling the countrys economy for a take-off PTI HV MR

Mumbai Feb 21 PTI Finance Minister Nirmala Sitharaman on Monday emphasised that trust and confidence in the financial markets are critical to gain traction among investors During an interaction with leaders of the financial and capital markets here Sitharaman also asked them to explore ways to further strengthen the sector according to an official release The finance minister is interacting with various stakeholders as part of her two-day post-Budget outreach programme being held in the countrys financial capital starting Monday Trust and confidence in the financial market are critical to gain traction amongst investors Sitharaman said She highlighted the important role of market participants in institution-building and for making the financial market stronger and investor-friendly the release said Sitharaman urged the market participants to strive for efficiency and transparency to help to channelise resources for productive investment in the most effective manner She also expressed satisfaction about the resilience displayed by the financial markets even during the pandemic times During the interactions various ideas and suggestions related to investor awareness KYC norms mutual fund penetration deepening of corporate bonds commodity derivatives and effectiveness of the market system were discussed in detail The participants in the meeting included heads of the stock exchanges clearing corporations depositories mutual fund industry stock brokerage firms merchant bankers and credit rating agencies Earlier in the day Sitharaman interacted with industry leaders large taxpayers and professionals PTI HV ABM ABM

New Delhi [India], February 1 (ANI): India is likely to become a $5 trillion economy by the financial year 2025-26 or 2026-27 if the GDP continues to grow at around 8 per cent, Chief Economic Advisor V Anantha Nageswaran said on Tuesday.