New Delhi: Finance Minister Nirmala Sitharaman On Tuesday, asked the top officials of the ministry to ensure that they keep a close watch on its implementation. Budget Announcements to ensure that they are implemented in a time bound manner.
These directions came during the minister’s meeting with secretaries of the ministries of finance and corporate affairs. Although some of the budget announcements require legislative changes, the vast majority are based on executive decisions. The finance minister’s meeting comes a day after another meeting with the prime minister Narendra Modi with the Council of Ministers.
With the budget presentation being pushed forward to February 1, spending and other decisions are now made from April itself, when the new financial year begins. This gives ministries time to prepare the rollout as well as start issuing tenders, which are now awarded earlier, thereby helping boost capital expenditure which has been a key focus of the government. Tax related changes are applicable from April or July anyway.
Discussion on 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 Law’. Both the Ministers discussed the matter in detail on various issues and agreed that a “whole of government approach” should be adopted in framing the provisions in this regard. Also, concerns relating to Systemically Important Digital Intermediaries (SIDIs) were also discussed. It was decided that the Ministry of Corporate Affairs will look into the issues of competition in the digital market. On the other hand, the IT ministry will look into sector-specific and technical issues.
These directions came during the minister’s meeting with secretaries of the ministries of finance and corporate affairs. Although some of the budget announcements require legislative changes, the vast majority are based on executive decisions. The finance minister’s meeting comes a day after another meeting with the prime minister Narendra Modi with the Council of Ministers.
With the budget presentation being pushed forward to February 1, spending and other decisions are now made from April itself, when the new financial year begins. This gives ministries time to prepare the rollout as well as start issuing tenders, which are now awarded earlier, thereby helping boost capital expenditure which has been a key focus of the government. Tax related changes are applicable from April or July anyway.
Discussion on 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 Law’. Both the Ministers discussed the matter in detail on various issues and agreed that a “whole of government approach” should be adopted in framing the provisions in this regard. Also, concerns relating to Systemically Important Digital Intermediaries (SIDIs) were also discussed. It was decided that the Ministry of Corporate Affairs will look into the issues of competition in the digital market. On the other hand, the IT ministry will look into sector-specific and technical issues.