Tag: Nirmala Sitharaman

Human Interest

Budget 2026: A Look at Nirmala Sitharaman’s Iconic Budget Day Sarees Over the Years

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Union Finance Minister Nirmala Sitharaman has, over the years, turned Budget Day into more than just a fiscal milestone. Her carefully chosen sarees have emerged as meaningful cultural statements, spotlighting India’s diverse handloom traditions and regional craftsmanship.

Budget Day 2026

For the Union Budget 2026, Ms Sitharaman wore a deep plum Kanjeevaram silk saree, paying homage to Tamil Nadu’s centuries-old weaving legacy. Featuring traditional patterns and a rich contrasting border, the saree reflected the grandeur and discipline associated with South India’s iconic silk tradition. She paired the look with her trademark bahi-khata, reinforcing continuity and symbolism.

Budget Day 2025

In 2025, the Finance Minister chose an off-white handloom silk saree adorned with fish-themed embroidery and a golden border, inspired by Madhubani art. Paired with a red blouse and shawl, the ensemble celebrated Mithila’s folk artistry.

A Year-by-Year Look at Her Budget Sarees

  • 2019: Pink Mangalgiri silk saree with gold borders, marking the historic introduction of the traditional bahi-khata.
  • 2020: Yellow silk saree with green-lined borders, symbolising hope and prosperity.
  • 2021: Red and off-white Pochampally ikat silk saree from Telangana, highlighting intricate handwoven patterns.
  • 2022: Brown and maroon Bomkai saree from Odisha, showcasing regional craftsmanship.
  • 2023: Red silk saree with black Kasuti embroidery, a traditional craft from Karnataka.
  • 2024 (Interim Budget): Blue Tussar silk saree with Kantha embroidery from West Bengal.
  • 2024 (Union Budget): White silk saree with a magenta border and golden motifs.
  • 2025: Off-white handloom silk saree inspired by Madhubani art.
  • 2026: Deep plum Kanjeevaram silk saree celebrating Tamil Nadu’s weaving heritage.

Over the years, Ms Sitharaman’s Budget Day attire has evolved into a quiet yet powerful narrative—one that places Indian artisans, weavers, and traditional crafts at the heart of a nationally watched moment. Her sarees serve as reminders that cultural pride and policy leadership can walk hand in hand.

Politics

Union Finance Minister Nirmala Sitharaman Holds the Longest Tenure

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Written by Intern Queeny George M.H. Team Allycaral

Union Finance Minister Nirmala Sitharaman has set a historic benchmark by becoming the longest-serving Finance Minister of India. A seasoned economist and senior BJP leader, Sitharaman has held the position of Finance and Corporate Affairs Minister since 31 May 2019.

She has now presented eight Union Budgets — a record unmatched in recent Indian history, second only to former Prime Minister Morarji Desai. In February 2024, she equaled Desai’s record of six budgets, and by 2025, she surpassed it by delivering her eighth budget. Her legacy also includes being the first person to present a Union Budget in the newly inaugurated Indian Parliament building, adding another historic milestone to her tenure.

Nirmala Sitharaman’s political journey is as remarkable as her policy work. She has been a member of the Rajya Sabha since 2016, representing Karnataka, and had earlier served as a member from Andhra Pradesh between 2014 and 2016. On 3 September 2017, she was appointed India’s Defence Minister — making her only the second woman to hold the position after Indira Gandhi, and the first full-time female Defence Minister of the country.

Born on 18 August 1959, Sitharaman has consistently balanced economic prudence with political responsibility. Her long and continuous service in key ministerial roles demonstrates her influence and leadership within the government and the Bharatiya Janata Party.

Her unprecedented run as Finance Minister marks a turning point in India’s political and administrative history, particularly with regard to women’s leadership in top executive roles.

Business

GST Rate Cut 2025: New Two-Tier Structure Announced; Goa Casinos Face 40% Levy Concern

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The Goods and Services Tax (GST) landscape in India is set for a significant shift. On Wednesday, Finance Minister Nirmala Sitharaman announced that the GST Council has approved a new two-tier GST structure, effective September 22, 2025.

Key Highlights of the GST 2025 Update

  • The new GST regime introduces 5% and 18% slabs, replacing the earlier complex multi-slab system.
  • Life and health insurance policy premiums will now be fully exempt from GST, bringing relief to policyholders.
  • Sin goods, including tobacco and related products such as cigarettes, will be taxed at a steep 40% levy.
  • The same 40% GST has been extended to casinos, placing Goa’s gaming industry in the spotlight.

Impact on Goa’s Casino Industry

Casino operators in Goa expressed deep concern over the 40% GST on gaming. Industry insiders warn that:

  • The heavy levy may cause a decline in footfall at casinos.
  • Potential investors could shy away due to reduced profitability.
  • The move could put thousands of jobs at risk, threatening a key contributor to Goa’s tourism economy.

Until now, casinos were taxed under the 28% GST slab on the face value of bets. The new 40% rate represents a sharp hike that many believe could stall industry growth.

Balancing Reform and Revenue

While the government’s move to simplify GST rates and provide relief for insurance premiums has been welcomed, the harsh tax treatment of sin goods and casinos underscores the Centre’s strategy of balancing consumer benefit with revenue maximisation.

What Lies Ahead?

As the new GST structure comes into force later this month, stakeholders across industries will be closely monitoring its real-world impact. For Goa’s casino industry, the focus remains on whether policymakers might revisit the 40% levy in light of its potential impact on jobs and tourism.

Finance

Exim Bank Pays ₹325 Cr Dividend to Finance Minister Nirmala Sitharaman for FY 2024-25

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In a significant financial development, Export-Import Bank of India (EXIM Bank) has presented a dividend cheque of ₹325 crore to Smt. Nirmala Sitharaman, the Union Minister for Finance and Corporate Affairs, for the fiscal year 2024-25.

The cheque was handed over by Smt. Harsha Bangari, Managing Director of India Exim Bank, reaffirming the institution’s commitment to financial prudence, profitability, and support for India’s global trade and development finance objectives.

Strengthening India’s Financial Backbone

As a premier export credit agency, Exim Bank plays a vital role in enhancing India’s international trade competitiveness. The dividend payout is reflective of the bank’s consistent performance and its role in aiding the country’s economic diplomacy through structured finance, project exports, and development initiatives across Asia, Africa, and Latin America.

The Ministry of Finance has appreciated the continued commitment of public sector banks and financial institutions in delivering value to the nation, both in terms of financial contributions and their strategic roles in key sectors.

This substantial dividend follows Exim Bank’s broader mission of strengthening India’s external sector and enhancing the global footprint of Indian businesses.