Top points! From bank deposit insurance to telecom losses, here is what FM Nirmala Sitharaman said today

Union Finance Minister Nirmala Sitharaman on Friday spoke on a number of issues ranging from the interim dividend from RBI to bank deposit insurance money and losses reported in the telecom sector.

Speaking about the matter of RBI interim dividend, Sitharaman said, "No thoughts about taking interim dividend from Reserve Bank of India."

#RBI से अंतरिम डिविडेंड लेने पर विचार नहीं: वित्त मंत्री #NirmalaSitharaman pic.twitter.com/xaGH7agL3K

— Zee Business (@ZeeBusiness) November 15, 2019

Moreover, on the issue of increasing the deposit insurance money, the Union Finance Minister said, "RBI's rights will be enhanced in terms of affairs related to cooperative banks." She added, "Insurance money on the deposits of consumers will also be increased."

सरकार नहीं चाहती कि कोई भी टेलीकॉम कंपनी बंद हो: वित्त मंत्री #NirmalaSitharaman pic.twitter.com/Y7yv1HiQTj

— Zee Business (@ZeeBusiness) November 15, 2019

ग्राहकों के जमा पर बीमा की रकम बढ़ाई जाएगी: वित्त मंत्री #NirmalaSitharaman

ज़ी बिज़नेस की मुहिम, #DepositInsuranceBadhao सरकार... pic.twitter.com/3LHzkiKDVU

— Zee Business (@ZeeBusiness) November 15, 2019

Commenting on the losses reported in the telecom sector, Sitharaman said, "Government doesn't want any of the telecom firms to be shut down. Talks are on, and after the Supreme Court's order even the adjusted gross revenue (AGR) matter has been taken up with telecom firms."

The big developments came barely 48 hours after, in line with Finance Minister Nirmala Sitharaman's policy of discussion with stakeholders on policy matters, the Finance Ministry started planning for the next budget by inviting suggestions on changes in direct and indirect taxes, including their rates, from industry and trade associations.

Sitharaman, who had earlier announced additional measures to stimulate the economy, will present her second Budget for the financial year 2020-21 on February 1.

The ministry holds pre-Budget consultations with representatives of different sectors and stakeholders, but the Department of Revenue in the Finance Ministry for the first time released a circular seeking suggestions for changes in income tax rates for both individuals and corporates as well as in indirect taxes such as excise and customs duty.

The November 11 circular of DoR seeks response from industry and trade associations to give suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same.