Has Nirmala Sitharaman kept their promises?
0 kept · 0 broken · 2 pending · 2 tracked
Affidavit & Biography
Controversies & Verbal Gaffes
Criminal Record Spotlight
Sitharaman tells Atlantic Council China's non-tariff barriers hinder Indian exports of generic drugs
Nirmala Sitharaman told the Atlantic Council at the International Monetary Fund meeting in Bangkok that China’s non-tariff barriers, like phytosanitary rules, hinder Indian exports of generic drugs, beef, and vegetables. India's trade deficit with China exceeded $100 billion this year. While Mao Ning stated China seeks balanced cooperation, Sitharaman noted skewed agreements with ASEAN and dependence on imported oil.
Sitharaman hopes for swift India-U.S. trade agreement as China's barriers hinder exports
On October 16, 2026, Nirmala Sitharaman expressed hope for a swift India-U.S. trade agreement during IMF-World Bank meetings in Bangkok, Thailand. Piyush Goyal stated the first phase is being drafted. Sitharaman noted China's non-tariff barriers hinder Indian exports like generic medicines and bovine meat. She described BRICS, representing 40% of the population, as a welfare partnership among 11 to 12 countries.
Karnataka High Court sets aside bank claim over 2.09 crore United Breweries Ltd. shares
A Division Bench comprising Justice D.K. Singh and Justice T.M. Nadaf of the High Court of Karnataka set aside 2017-18 orders by the DRT and DRAT. The court ruled that a consortium of banks' claim over 2.09 crore United Breweries Ltd. shares held by Vijay Mallya and Siddhartha Mallya lacked justification after recovering ₹14,131.6 crore against a ₹6,203 crore loan.
Piyush Goyal says first India-U.S. trade deal tranche finalised in Delhi
Piyush Goyal, Commerce Minister, stated on October 15, 2026, that the first tranche of the India-U.S. trade deal is finalised in Delhi. Nirmala Sitharaman and Jamieson Greer noted negotiations have plateaued or lack imminence. Rajesh Agrawal anticipates signing soon despite a 10% tariff under Section 301 and a potential 100% tariff from Donald Trump.
RBI Governor Sanjay Malhotra to consider further measures to curb speculative trading
RBI Governor Sanjay Malhotra told MoneyControl on Tuesday that the central bank would consider further measures to curb speculative trading. The RBI recently raised interest rates from 5.25 per cent to 5.5 per cent. Analysts suggest options like raising the MSF rate, increasing exchange rate flexibility, cutting long-term capital gains tax, or raising fuel prices to support the rupee.
Marco Rubio to visit Mumbai and Jamnagar to discuss trade with Reliance Industries
U.S. Secretary of State Marco Rubio will visit Mumbai and Jamnagar from October 19 to 22, 2026, to discuss energy and trade with Reliance Industries. The visit follows the SRIA law mandating Donald Trump to propose tariffs on Russian oil buyers. S. Jaishankar and Nirmala Sitharaman face tensions over a plateaued BTA and suspended green cards for five tech companies.
Union Cabinet approves selling 60.72 per cent stake in IDBI Bank to Canada Inc
The Union Cabinet approved selling a 60.72 per cent stake in IDBI Bank to Canada Inc., owned by Fairfax Financial Holdings, for Rs 52,877.07 crore at Rs 81 per share. The stake includes 30.48 per cent from the GoI and 30.24 per cent from LIC. Nirmala Sitharaman called it a strategic restructuring to be completed by the fiscal year's end.
ClearTax CEO urges LTCG tax rethink as Demat accounts hit 23.8 crore
Archit Gupta, Founder and CEO of ClearTax, urged a rethink of the long-term capital gains tax, noting that Demat accounts rose from 13.2 crore to 23.8 crore in three years. Following Nirmala Sitharaman's statement on Union Budget 2027-28 discussions, Divam Sharma of Green Portfolio suggested moderation in LTCG and STT could boost capital markets and attract FII and FDI flows.
Sanjay Malhotra, Reserve Bank of India governor
Sanjay Malhotra, Reserve Bank of India governor, told Moneycontrol on Tuesday that the bank will consider further measures to curb speculative trading. The rupee rose 0.8 per cent to 95.01 after the RBI extended derivative transaction curbs and increased its benchmark repurchase rate by 25 basis points. Finance Minister Nirmala Sitharaman stated at the Bloomberg New Economy Forum that efforts to curb volatility continue.
India-U.S. trade negotiations heading towards "landing point" to address tariff friction
S Jaishankar stated at the Bloomberg New Economy Forum on Tuesday that India and the U.S. trade negotiations are heading towards a "landing point." Since early 2025, both sides have discussed a pact to address tariff friction and market access. Jamieson Greer of the USTR noted an agreement is not imminent as they work to resolve remaining issues.
Rupee appreciates 44 paise to 94.92 as RBI intervenes and tightens forex rules
On Wednesday (October 14, 2026), the rupee appreciated 44 paise to 94.92 against the U.S. dollar due to Reserve Bank of India (RBI) interventions and new regulations. Finance Minister Nirmala Sitharaman noted significant depreciation over 1.5 years. The RBI created an oil marketing window, tightened forex derivatives rules, and mandated a 20% reserve for purchases over $2 million.
Nifty 50 rises 1.6% as John Williams suggests one more rate hike this year
MSCI Inc.’s Asia Pacific equities index advanced 0.2% on Tuesday as New York Fed President John Williams suggested one more rate hike this year but no further tightening in 2027. Microsoft Corp. hit a record, while the S&P 500 Index remained unchanged. Nirmala Sitharaman discussed a transaction tax as the Nifty 50 rose 1.6%. Goldman Sachs Group Inc. saw equity traders beat expectations.
