'RBI on their toes as always': FM Nirmala Sitharaman on Adani-Hindenburg row

The Reserve Bank of India's (RBI) Central Board of Directors on Saturday (February 11) met for its customary post-Budget meeting, which had Finance Minister Nirmala Sitharaman in attendance, along with the two ministers of state for finance, after the Union Budget 2023-24.

It can be seen that the RBI Governor, Shaktikanta Das, was also present at the meeting. Sitharaman reacted to the Adani controversy when asked about the matter during the address.

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Reacting to the Supreme Court concern on Adani-Hindenburg row, the Union Finance Minister said, "India's regulators are very experienced and they are experts in their domains. They are on their toes as always, not just now."

FM Sitharaman explained that India's regulators are very experienced and that she would prefer to leave the matter to them. She also stated that she was not going to reveal what she has planned to say in Court over the issue.

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Meanwhile, she also said that the new tax regime will benefit the middle class as it will leave more money in their hands. She also said that it is not necessary to induce individuals to invest through government schemes but to give them an opportunity to make a personal decision regarding investments.

Under the revamped concessional tax regime, which will be effective from the next fiscal, no tax would be levied on income up to Rs 3 lakh.

Income between Rs 3-6 lakh would be taxed at 5 percent; Rs 6-9 lakh at 10 percent, Rs 9-12 lakh at 15 percent, Rs 12-15 lakh at 20 percent and income of Rs 15 lakh and above will be taxed at 30 percent.

• Adani
• Adani row
• Finance Minister
• Hindenburg
• Hindenburg row
• Nirmala Sitharaman
• Supreme Court
• Reserve Bank of India
• RBI