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NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday asked top officials in the ministry to ensure that they should keep close tabs on the implementation of Budget announcements to ensure that they are implemented in a time-bound manner.
The instructions came during the minister’s meeting with secretaries in the finance and corporate affairs ministries. While some of the Budget announcements require legislative changes, a large number is based on executive decisions. The FM’s meeting comes a day after another one by PM Narendra Modi with the council of ministers.
With the Budget presentation brought forward to February 1, spending and other decisions are now started from April itself, when the new financial year begins. This gives the ministries time to prepare the rollout as well as start issuing tenders, which are now awarded earlier, helping boost capital expenditure that has been a key focus of the government. The tax related changes are in any case implemented from April or July.
Talks e-competition laws with IT minister
FM Nirmala Sitharaman and minister of state for IT & electronics Rajeev Chandrasekhar on Tuesday discussed issues related to ‘Digital Competition Laws’. The two ministers discussed in detail various issues on the matter and agreed that a “whole of government approach” should be adopted in the framing of provisions in this regard. Also, concerns regarding Systemically Important Digital Intermediaries (SIDIs) were discussed. It was decided that the ministry of corporate affairs will look into the competition issues in the digital market. On the other hand, the IT ministry will look into sector-specific and technical issues.
The instructions came during the minister’s meeting with secretaries in the finance and corporate affairs ministries. While some of the Budget announcements require legislative changes, a large number is based on executive decisions. The FM’s meeting comes a day after another one by PM Narendra Modi with the council of ministers.
With the Budget presentation brought forward to February 1, spending and other decisions are now started from April itself, when the new financial year begins. This gives the ministries time to prepare the rollout as well as start issuing tenders, which are now awarded earlier, helping boost capital expenditure that has been a key focus of the government. The tax related changes are in any case implemented from April or July.
Talks e-competition laws with IT minister
FM Nirmala Sitharaman and minister of state for IT & electronics Rajeev Chandrasekhar on Tuesday discussed issues related to ‘Digital Competition Laws’. The two ministers discussed in detail various issues on the matter and agreed that a “whole of government approach” should be adopted in the framing of provisions in this regard. Also, concerns regarding Systemically Important Digital Intermediaries (SIDIs) were discussed. It was decided that the ministry of corporate affairs will look into the competition issues in the digital market. On the other hand, the IT ministry will look into sector-specific and technical issues.
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