Discover and read the best of Twitter Threads about #NirmalaSitharaman

Most recents (11)

#mysteryofIndiasvanishinggrowth It's paywalled, so the hi-lites: I discovered whr a large part of India's growth vanished. #longtweet
opening fact: Institutional investors, eg US private equity funds/their local mgrs, route finance to India through offshore countries eg Singapor
eyeopening fact (IMPORTANT): Conventionally the overseas debt is 1st accounted for as equity until, like all loans, it comes up 4 repayment @ which point it goes on the books as debt. These loans are bonds, whose full technical name is the compulsory convertible debenture-CCD.
debenture=complicated word for debt;
the loans come w specific contractual clauses such as guaranteed time-bound repayments.
Sadly, developing countries (eg India) r unable to borrow in domestic currency, an existential crisis. Rupee bonds exist but not many investors want them
Read 19 tweets
(1/n) •Domestic company corp tax cut from 30% to 22 % percent if
they don't avail any exemptions or incentives from FY20
• Effective tax for these companies rate 25.17 percent inclusive of all
surcharge and cesses. Applicable for current fiscal
(2/n) *listed companies which have announced buyback of shares prior to July 5 will not be charged with super rich tax
*All the measures announced will give relief of 1.45 lakh crores annually
(3/n) *Roll back of enhanced surcharge introduced in Budget on capital gain arising from sale of equity shares in a company liable for STT .
* super-rich tax will not to apply on capital gains from sale of any security including derivatives for FPIs.
Read 15 tweets
(1/n) Among many things addressed today in Finance Minister's Meet with Press, she addressed there will be development of Credit Default Swap (CDS) Markets in consultation with @SEBI and @RBI RBI. This step was taken following the credit events of IL&FS, DHFL etc in past yr
@sebi @RBI (2/n) Now what is Credit Default Swap (CDS)/ Markets?
CDS is kind of an insurance against a risk of default on a loan by a company. Company – reference entity, default – credit event.
@sebi @RBI (3/n)Why will a seller do that? Coz under such contract buyer will pay a regular amt to seller 4 protection he has bought for his bond, incase of a credit event. Seller will gain incase there is no credit event since he has got regular payment from buyer for his ‘protection’.
Read 17 tweets
Thread on @nsitharaman declarations as follows #NirmalaSitharaman
@nsitharaman 1) CSR violations shall no longer be a criminal offence effective today.
@nsitharaman 2) All Income Tax notices, summons to be done from centralised computerised system. All existing notices to be reviewed before October 1. Form October 1 all I-T notices till date shall stand null and void.
Read 33 tweets
Modi Govt. has taken many measures to boost the economy.
These measures will support the economy and will create a positive atmosphere among the business community and also the common citizens of India.
Continuing working as people's govt, @nsitharaman announced many measures after taking feedbacks from the business community, every sector & also the consumers.
Read 4 tweets
Smt @nsitharaman addresses a press conference at National Media Centre, New Delhi. Watch Live here:

@nsitharaman CSR violations not to be treated as criminal offence.
IT orders, notices, summons, letters, etc. to be issued through a centralized system.
@nsitharaman @PIB_India @MIB_India @FinMinIndia Relief from enhanced surcharge on Long-term/Short-term Capital Gains.
Withdrawal of so-called 'angel tax' provisions for startups and their investors.

Read 12 tweets
Updates from #Budget2019 with @moneymantrainfo - Watch out all the news on budget (tweets / thread whole day..) 📊📋
#Budget2019 - Indian Economy : A Snapshot 👇
Sitharaman discards briefcase, goes for 'bahi-khata' #Budget2019
Read 37 tweets
Smt @nsitharaman replies to all the allegations on the Rafale Deal in the Lok Sabha. #NirmalaSitharaman
What UPA could not do in 10 years, Modi Govt finalised in 14 months-
Smt @nsitharaman in The Lok Sabha
National security is important, whether we are in power or they are in power. We should recognise that timely getting of equipment for armed forces should be priority of any govt: Smt @nsitharaman in the Lok Sabha
Read 16 tweets
As #NirmalaSitharaman continues to claim that the current deal is better than the Congress-negotiated 126-aircraft deal, a reminder of why that's not saying much, and what all this govt is not explaining about the 36-aircraft #RafaleDeal it signed /1
The govt own technical experts objected to various aspects of #Rafale and explained that it was no better than the 126 MMRCA deal; the technical experts did not think that the delivery and maintenance specs were any better than the earlier deal /2…
The technical experts noted that the cost of the India-specific enhancements was too high-- the cost for the earlier deal was spread over 126 aircraft, here it was obviously significantly higher per aircraft. Defence minister and PM-led committee rubbished this concern. /3
Read 10 tweets
Defence Minister Nirmala Sitharama (@nsitharaman) speaks on #Rafale jet deal in the Lok Sabha

Follow Live:
Defence Minister on #Rafale jet deal in Lok Sabha: Senior members of the Opposition don't want to hear my answers. It is very disheartening. This country needs to know that defence purchases are national security-related and very important, whether they are in power or we are.
National security is of utmost importance: Defence minister @nsitharaman on #Rafale jet deal in Lok Sabha

Follow Live:
Read 33 tweets
#MonsoonSession live: Debate on #NoConfidenceMotion set to start at 11 am, all eyes on Lok Sabha
#NoConfidenceMotion | Senior Congress leader Mallikarjun Kharge complains to Speaker Sumitra Mahajan about the time allotted to the #Opposition. He requests her not to impose a time limit on the Opposition parties.

Follow live updates here:
Read 86 tweets

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