FM Sitharaman in Bengaluru Highlights: Govt, DoT in constant touch with telecom companies on AGR issue, says FM

Finance Minister Nirmala Sitharaman is interaction with economists on Union Budget 2020 in Bengaluru's Hotel Shangri-La. This is the fifth post-Budget 2020 interaction of FM Nirmala Sitharaman with stakeholders. Stay tuned for live updates.

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Govt, DoT in constant touch with telecom companies on AGR issue: Finance Minister Nirmala Sitharaman

If you don't mind, I won't like to give an opening speech this time: FM Nirmala Sitharaman

The second interactive session with FM Nirmala Sitharaman comes to an end. Next, she is going toaddress a press conference at 4 pm.

The Cabinet has approved the 'Vivad se Vishwas' and we will give further updates of that in due time. Till then, I request you to keep patience: FM Nirmala Sitharaman

Hello and welcome to the second session where FM Nirmala Sitharaman is interacting with the economists. Various queries about different sectors are being placed before the Finance Minister.

With this, the first interactive session of FM Sitharaman and traders and industry representatives comes to an end. Sitharaman will address another session at 2:30 pm where she will interact with economists, economics professors and intellectuals. Stay tuned for live updates.

Total cases selected for scrutiny is not more than 1 percent. This year, however, 58,000 cases were put under digital scrutiny, says Ajay Bhushan Pandey.

On the issue of trust registration, the government is planning to re-register the old trusts and in the case of new trusts, a provisional period of three years is given, following which an enquiry would be conducted to check if the trust is carrying out programs as they are required, clarifies Finance Ministry.

Vidhya Srinivasan, MD, Puma, says that the government must have a mechanism to re-skill the youths considering the pace at which automation is happening.

We don't want to takepanga with Income Tax Department officials, says Mohandas Pai as FM Sitharaman asks him to send his suggestions on improving income tax compliance.

We want all startups to be registered with DIPP, says Mohandas Pai.

My intention is not to additionally tax anyone, says FM Sitharaman, while responding to a question to reduce the taxes collected on education loan.

FM Sitharaman says that she has asked GST Council to look at the revisions made in the rates.

In the case of startups, my numbers are true. If there is a dispute in numbers, where are they coming in from? Some of them are registered, while others are not registered. The government works on some norms. The industry engages with DPIIT and then the body consults with industry and forms laws. The government alone cannot do everything, says FM Sitharaman.

Mohandas Pai pitches for a reduction in surcharge on capital gains during the interactive session.

Former director of Infosys Mohandas Pai says that unicorn companies are going out of India, he urges FM Sitharaman to reduce the surcharge on capital gains on non-listed goods.

The government is working with Infosys to upgrade the GST portal, says Finance Ministry.

Watch Finance Minister Nirmala Sitharaman interact with Traders and Industry Representatives in Bengaluru

The decision to include e-invoice was taken six-seven months back by the GST Council. To make the entire process more gradual, companies having turnover of more than Rs 100 crore were allowed to file e-invoice. The ultimate objective is that once it becomes operational, the returns invoices could be generated online, says Finance Ministry.

The interactive session between Finance Minister Nirmala Sitharaman and traders and industry representatives begins.

The government's voice to spend and boost consumption was loud and clear in the Budget 2020, says Sitharaman.

Sitharaman clarifies that in this interaction the team would not go into details of new features that were included in the Union Budget 2020.

Taking Budget contents to people across the country is an important exercise,says Sitharaman.

Finance Minister Nirmala Sitharaman's interactive session to begin shortly.

This is the fifth post-Budget 2020 interaction of FM Nirmala Sitharaman with stakeholders.

Finance Minister Nirmala Sitharaman will address a press conference at 4:00 pm at Hotel Shangri-La.

FM Sitharaman will hold another interaction with intellectuals, influencers, economics professors and professionals at 2:30 pm.

The interaction with traders and industry representatives will be held at Hotel Shangri-La in Bengaluru at 11 am.

During the interaction, Finance Minister Nirmala Sitharaman is likely to listen to concerns of industry representatives around the Union Budget 2020.

Finance Minister Nirmala Sitharaman will hold an interactive session with Trade and Industry Representatives on Union Budget 2020 at 11 am.

Good morning readers and welcome to our live coverage of Finance Minister Nirmala Sitharaman's interaction with industry representatives in Bengaluru. Stay tuned for live updates.