"The robustness of the Customs Act was on display when during the difficult times of Covid-19 all the consignments, whether of big or small companies or individuals, were facilitated," said Finance Minister.
Sitharaman said that greater alertness is needed in the matter of drug smuggling. If gold smuggling is going to hurt the economy, drugs hurt generations.
Replying to a question in Lok Sabha, Sitharaman said the Reserve Bank of India has used the available foreign exchange reserves that it had in order to intervene in the markets to make sure that the Dollar-Rupee does not fluctuate too much.
Over 16.67 crore loans involving a sanctioned amount of Rs 9.98 lakh crore have been extended under Pradhan Mantri Mudra Yojana (PMMY) in the last three financial years ending March 2022.
"ECGC is reluctant to issue the coverage to EXIM bank because of the default committed by Sri Lanka and Zambia. This is adversely affecting the overall export performance of Indian exporters,"
said PHDCCI President, Saket Dalmia.
Forbes had placed President of the European Commission Ursula von der Leyen on the top position of the 19th annual Forbes list of the World's 100 Most Powerful Women for her leadership during the Ukraine war.
Sri Lanka High Commissioner to India, Milinda Moragoda on Tuesday met with Union Finance Minister Nirmala Sitharaman and thanked her for the brief emergency assistance India has provided to the island nation throughout its difficult period.
In a report -- Smuggling in India Report 2021 -- which was released by Finance Minister Nirmala Sitharaman on Monday, the government agency said it had always risen to the challenge and made great inroads into breaking the gold smuggling syndicates over the years.
In 2021-22, seizures of cocaine increased 3,479 per cent from 8.667 kg to 310.21 kg, an annual report produced by the Directorate of Revenue Intelligence said on Monday. In 2019-20, the seizure was 1.108 kg.
Union finance minister Nirmala Sitharaman on Monday said cocaine has started coming into India and the Directorate of Revenue Intelligence needs to figure out if the country is becoming a consuming country.
In order to evade the high rate of tax and cess levied on cigarettes and tobacco products as also to avoid printing of the pictorial and textual warnings, illegal means of importation of cigarettes and tobacco products is resorted to, to meet the demand in the market and rake in exorbitant p