Manipur horrific video: ‘Entire nation hangs its head in shame,' says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Friday addressed the sensitive and serious issue of Manipur during Parliament's Monsoon Session.

While talking to the media, Sitharaman said that the entire nation hangs its head in shame for the recent events unfolding in the state. The Finance Minister's remarks came in response to the distressing situation of Manipur.

Prior to the commencement of the parliamentary session, Prime Minister Narendra Modi had expressed his deep concern and remorse over the incidents in Manipur and the distressing viral video of two Kuki women. The state has been grappling with a crisis that has caused immense hardship to its people.

Sitharaman emphasised that the perpetrators behind the viral video and the turmoil in Manipur would be brought to justice. Some arrests have already been made as part of the government's efforts to address the issue and hold those responsible accountable.

The Finance Minister assured that no effort would be spared in resolving the situation and providing relief to the affected communities. The government, under the leadership of PM Modi, is determined to address the matter promptly and ensure that those responsible for the unrest are swiftly apprehended, she said. 

“Manipur is a beautiful state and it has to come out of the crisis and honestly, all of us will have to make efforts to bring back peace to the state,” she said. “This kind of incident hurts each one of us and there is no word with which we can explain or address the issue,” she said. The perpetrators will have to be caught and some arrests have already been made yesterday, the minister said.

 

GST collection in North Eastern States

Nirmala Sitharaman on Friday also lauded the impressive performance of North Eastern states, stating that they have collectively recorded a compounded annual GST hike of 27.5 per cent, as reported in the 2023 RBI report on state finances.

Addressing the audience at the Investiture Ceremony for conferring the Presidential Award for Specially Distinguished Record of Service to officers and staff of the Central Board of Indirect Taxes and Customs (CBIC), Sitharaman acknowledged the North Eastern states' commendable efforts.

Assam, being the first state to ratify the GST Act, witnessed a remarkable 12 times increase in tax collection since its implementation. Previously, Assam's sales tax collection stood at Rs 558.26 crore, but this has surged significantly to Rs 7,097 crore.

Joining the ranks of successful GST implementation, Sikkim and Meghalaya have also demonstrated substantial growth in tax collection. Sikkim's revenue has seen a substantial increase from Rs 263.5 crore to Rs 3,036 crore, while Meghalaya's collection has risen from Rs 587.21 crore to Rs 2,078 crore.

 

Crypto regulations

In an important development on the regulation of crypto assets, Finance Minister Nirmala Sitharaman on Tuesday announced the imminent release of a highly awaited synthesis paper. 

The Finance Minister while speaking to the media after the end of the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Gandhinagar said that the paper is a collaborative effort between the International Monetary Fund (IMF) and the Financial Stability Board (FSB), extensively analyzing both macroeconomic and regulatory aspects of cryptocurrencies.

Scheduled to be submitted to the presidency prior to the upcoming leaders' summit, the synthesis paper is poised to stimulate in-depth discussions among global leaders and stakeholders. Its comprehensive examination of the crypto asset landscape aims to foster a cohesive and unified approach to regulating these digital assets worldwide.

Sitharaman expressed her confidence that the synthesis paper would pave the way for establishing a shared understanding among nations on the intricacies of crypto asset regulation. As the fastest-growing economy, India's stance on the matter is highly anticipated and is expected to play a significant role in shaping the global regulatory landscape for cryptocurrencies.

 

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