Currencies

Finance Minister Nirmala Sitharaman rejected concerns over the recent depreciation of the Indian rupee, stating that the currency has remained stable against most global counterparts despite pressure from a strengthening US dollar.CompanyValueChange%ChangeIn an interview with PTI, Sitharaman acknowledged the rupee’s nearly 3% decline against the dollar in recent months, calling it a concern due to its impact on import costs. However, she dismissed claims of broader weakness in the local currency."I am concerned, but I will not accept the criticism that 'Oh, the rupee is weakening!' Our macroeconomic fundamentals are...

Paraphrasing Abraham Lincoln, Union Finance Minister Nirmala Sitharaman on Sunday (February 2, 2025) described the Union Budget as “by the people, for the people, of the people”, and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for middle class but it took time to convince the bureaucrats.“We have heard the voice of the middle class” who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.With the honest and proud taxpayers wanting the government to do...