Nirmala Sitharaman
FM meets Singapore President, discusses comprehensive strategic partnership
Finance Minister Nirmala Sitharaman meets Singapore President Tharman Shanmugaratnam to strengthen Comprehensive Strategic Partnership. Discussions include fintech, digital technologies, semiconductor ecosystem, and skill development, aiming to boost bilateral trade and investment relations. The visit marks the 60th anniversary of India-Singapore relations.
Budget 2025: Commerce Min may seek 5-year extension of interest equalisation scheme for exporters
Union Budget 2025: The commerce ministry plans to request an extension of the interest equalisation scheme for rupee export credit in the upcoming Budget. The scheme supports exporters amid global economic challenges by offering subsidies. It initially started in 2015 and has received several extensions. Exporters advocate for its continuation, highlighting its role in maintaining competitiveness.
India is now among top 25 arms exporters globally: FM Nirmala Sitharaman
India has emerged as one of the top 25 global arms exporters, experiencing significant growth in indigenous defence production. The country achieved a record-high defence production value of Rs 1.27 lakh crore in 2023-24 and defence exports of Rs 21,083 crore, supported by robust policies and investments.
Need tech-savvy force to protect India's digital infrastructure, says FM Nirmala Sitharaman
Nirmala Sitharaman stressed the need for tech-savvy security forces to protect India's digital infrastructure. She emphasized the importance of safeguarding banks, stock markets, and digital public services against misuse of technology. Although India's digital growth is notable, it faces threats from those who are not pleased with its progress and may seek to challenge it.
Budget 2025: 5 schemes Finance Minister Nirmala Sitharaman may top-up
Budget 2025 news: Finance Minister Nirmala Sitharaman is preparing Budget 2025 while balancing fiscal prudence and addressing key voter demographics. Focus may be on enhancing PM Awas Yojana, Ayushman Bharat, PM Gram Sadak Yojana, PM-Kisan Samman Nidhi Yojana, and MSME support schemes. These schemes might receive increased allocations and top-ups in the upcoming budget.
Budget 2025: Will Nirmala Sitharaman be able to meet fiscal deficit targets amid economic challenges?
Union Budget 2025 news: The 2025 Union Budget, likely to be presented on February 1 by Finance Minister Nirmala Sitharaman, will focus on achieving fiscal deficit targets, with emphasis on infrastructure development, rural welfare, healthcare, and education. The budget aims to balance economic growth and fiscal discipline, addressing grassroots concerns and national political dynamics.
Budget 2025 Expectations Live: Budget session of Parliament from Jan 31 to Apr 4; what are different industries expecting?
Budget 2025 Live Updates: Parliament's Budget Session will held from January 31 to April 4, with Finance Minister Nirmala Sitharaman set to table her eighth straight budget on February 1. In line with the convention, the session will start with President Droupadi Murmu's address to a joint sitting of the Lok Sabha and Rajya Sabha on January 31 followed by the tabling of the economic survey. The first part of the Budget Session will have nine sittings from January 31 to February 13 when Prime Minister Narendra Modi will respond to the Motion of Thanks on the President's address and Sitharaman will reply to the discussion on the budget. Parliament will then break for recess to examine the budget proposals and meet again from March 10 to discuss the demands for grants of various ministries and complete the budgetary process. The session will conclude on April 4. The entire budget session will have 27 sittings.
Andhra CM thanks PM for Centre's Rs 11,440 cr financial support for Vizag Steel Plant
Andhra Pradesh Chief Minister N Chandrababu Naidu expressed gratitude to Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman, and Steel Minister HD Kumaraswamy after the Union Government approved Rs 11,440 crore to revitalize the Vizag Steel Plant. Naidu highlighted the plant's significance and assured it will aid in nation-building, marking a proud moment for the state.
Budget session of Parliament from January 31 to April 4
Parliament’s Budget Session will run from January 31 to April 4, featuring Finance Minister Nirmala Sitharaman presenting her eighth budget on February 1. The session includes President Droupadi Murmu's address, Prime Minister Narendra Modi’s response to the Motion of Thanks, and concludes with budget discussions and grant approvals.
Nirmala Sitharaman holds pre-budget meeting with trade experts, stakeholders
Budget 2025: Union Finance Minister Nirmala Sitharaman chaired the fourth Pre-Budget Consultation meeting with stakeholders from the export, trade, and industry sectors in preparation for the Union Budget 2025-26. Meetings were previously held with state finance ministers, MSMEs, farmers' associations, and economists. The Budget will be tabled on February 1, 2025.
Budget 2025: Steel ministry seeks $1.7 bn to help mills cut emissions
India's steel ministry seeks 150 billion rupees from the budget for incentives to produce low-carbon steel. The plan includes reducing emissions, boosting R&D, and promoting renewable energy loans. The incentives, aimed at achieving a 2070 net-zero target, will be in place until 2030. The government may use green steel in its projects to support this initiative.
Budget 2025 Expectations Live: Tax cuts on the cards of govt? Industry stakeholders hope for relief to improve consumption
India Budget News Live Updates: Indian Finance Minister Nirmala Sitharaman is set to present the national budget on February 1, as Asia’s third-largest economy faces slowing growth and increasing global uncertainties. Industry leaders are advocating for measures to stimulate growth, which is projected to hit a four-year low this fiscal year, by increasing disposable income for the middle class as urban consumption weakens. The government is reportedly considering income tax cuts and incentives for electronics manufacturers, according to a Reuters report last month.
Budget 2025: Will FM Nirmala Sitharaman increase 'sin tax'?
The Indian government held steady on sin taxes for tobacco in the latest budget. Cigarette taxes remained unchanged. A proposed 35% GST on sin goods like tobacco and aerated drinks is under consideration. This could hike prices. India's tobacco taxes are below the WHO's recommended 75% of retail price.
Budget 2025: Nirmala Sitharaman should think about utilizing frozen savings in gold, suggests Nilesh Shah
Kotak Mutual Fund MD Nilesh Shah suggests that Finance Minister Nirmala Sitharaman could creatively utilize India's massive savings in gold to raise resources for futuristic investments. He believes that such a move would add significant value, bringing a "cherry on top" to the budget. Shah also emphasizes that as the global economy shifts toward protectionism, the upcoming budget must focus on prioritizing growth.
Budget 2025: Industry leaders say declining rupee will pose a challenge to fiscal management
Finance Minister Nirmala Sitharaman is set to present her eighth budget. Industry leaders are calling for taxation reforms, increased infrastructure spending, and fiscal management measures. They also seek predictable tax policies and relief for lower-income groups. There are hopes for better investor confidence through various fiscal reforms, which could help in India's economic growth.
Budget 2025: Will Sitharaman make roti, kapada, makaan affordable again?
Union Budget: With Budget 2025 approaching, Finance Minister Nirmala Sitharaman faces the task of addressing rising costs for food, housing, and clothing. The budget aims to stabilize food prices, boost urban and rural housing affordability, and strengthen the textile sector through targeted subsidies, tax reliefs, and enhanced financial support for key programs.
Budget 2025: A look at India's forex reserves at play amid rupee volatility
Finance Minister Nirmala Sitharaman will present the Union Budget for 2025-2026 in February 2025. India’s foreign exchange reserves have decreased, and the Indian rupee has depreciated against the U.S. dollar. Foreign Portfolio Investors have shown a turnaround in net equity inflows. The forthcoming budget is expected to focus on economic stabilization, foreign investment attraction, and sustainable growth.
Budget 2025: Global rating agencies see capex and fiscal control focus
Union Budget 2025: India's 2025-26 budget will focus on fiscal consolidation, capital investments, and a medium-term debt reduction strategy. The government aims to reduce the fiscal deficit to around 4.4-4.5% of GDP, emphasizing effective capital expenditure and boosting manufacturing. Rating agencies believe these measures can improve India's fiscal health and potentially lead to a rating upgrade.
Budget 2025: Tax cuts, tariff, growth strategies top Indian industry's wish list
Indian Finance Minister Nirmala Sitharaman will present the national budget on February 1. The budget comes at a time when the economy is slowing. Measures to boost growth are anticipated, including potential tax cuts and incentives for electronics makers. Industry groups are calling for tax reductions, infrastructure spending, and tariff cuts to improve the economic outlook.
India to forecast stronger growth next year while sticking to fiscal deficit goals, sources say
India plans to project higher economic growth for the next fiscal year, forecasting nominal economic growth of 10.3%-10.5%, which is higher than the current year's forecast. The government is meeting fiscal deficit goals and may cut personal income taxes to boost demand. The fiscal deficit is expected to be lower than initially predicted.
ET Graphics | Union Budget 2025: India Inc. outlines key demands for February 1
India Inc. presents a comprehensive wish list for Union Finance Minister Nirmala Sitharaman ahead of the February 1 budget. At the top of the list are key reforms to boost consumption and employment, ensure tax stability, and provide incentives to attract new investments. Here's a look at the major budget expectations.
Govt capex growth to slow down, fiscal consolidation to continue in FY26: Goldman Sachs
Goldman Sachs anticipates a slowdown in government capex growth for the next financial year. Finance Minister Nirmala Sitharaman is likely to announce a 13 per cent increase in public capex. The government aims to narrow the fiscal deficit to 4.5 per cent of GDP. There will be a focus on rural transfers and welfare spending.
Budget 2025: Sitharaman likely to give India’s ‘aam aadmi’ what they want?
Union Budget 2025 holds high expectations from India’s middle class, especially for tax relief to boost consumption and counter slowing growth. With private consumption comprising 60% of GDP and urban demand declining, measures like tax cuts, simplified compliance, and increased exemption limits are anticipated.
Budget 2025: Can Sitharaman and co help India turn into a semiconductor superpower?
India's government is prioritizing the semiconductor industry with increased budget allocations, policy support, and private investments. The 2025 Union Budget is expected to further boost the sector with incentives, AI infrastructure development, and skilled workforce initiatives, aiming to reduce import dependence and enhance India's global semiconductor market presence.
Budget 2025: Will India's robust GST kitty help Sitharaman stick to fiscal glide path?
Union Budget 2025: India’s GST collections are set for a strong finish this fiscal year, driven by rural economic resurgence and efforts against tax evasion. This revenue boost will help Finance Minister Sitharaman adhere to fiscal plans while focusing on capital expenditure. The upcoming Budget 2025 will balance economic growth with strategic expenditure, amidst global uncertainties.
MSME credit scheme set to be placed before cabinet soon
Finance minister Nirmala Sitharaman in her July budget speech had stated that to facilitate term loans to MSMEs for purchase of machinery and equipment without collateral or third-party guarantee, a credit guarantee scheme will be introduced.
Budget 2025 date and time: When will Finance Minister Nirmala Sitharaman present India's Union Budget this year?
Finance Minister Nirmala Sitharaman is expected to present the Union Budget 2025 on Saturday, February 1, at 11 AM, though official confirmation is pending. Traditionally presented on February 1 since 2017, this date aligns the budget with the financial year starting in April. The stock market will remain open on February 1, allowing investors timely access and reactions to the announcements, with trading hours following regular timings.
Budget 2025: A close look at India’s Inflation trends ahead of Sitharaman’s key policy moves
Finance Minister Nirmala Sitharaman's 2025 Budget will focus on managing inflation, a key concern for policymakers. Despite moderation in H1, inflation hit a 14-month high of 6.21% in October due to food price surges.
What Budget 2025 can give ladki, bahin and didis who flooded poll booths in 2024
India Budget 2025: Finance Minister Nirmala Sitharaman will present the Union Budget for 2025-26 in February. The focus might be on women due to their crucial contribution to the recent electoral success of the government. The previous budget had strong initiatives for women's empowerment, including increases in funds for the ministry of women and child development.
Budget 2025: Sops in works for organic farming to double exports
The Indian government is planning to introduce incentives for organic and natural farming to boost organic exports. The initiative aims to cover potential losses for farmers and address concerns related to pesticide residue norms in developed markets. The revised Agriculture Export Policy seeks to double organic exports to $1 billion by FY26.
Expect RBI to cut interest rates next month; Budget must focus on job creation: CII president
CII expects the RBI to cut interest rates next month to support growth. CII President Sanjiv Puri highlights the need for job creation and specific interventions in labour-intensive sectors. He also calls for dealing with China's excess stock dumping and emphasizes the importance of de-linking food inflation from interest rates. Labour reforms are also anticipated.
Modi-govt looks to new economic playbook as risks mount for ambitious aims
India's policymakers are working to prevent an economic slowdown as investment and manufacturing weaken. The government forecasts 6.4% growth in the fiscal year ending March. Policymakers are considering measures such as cutting taxes and tariffs to boost growth. Additionally, India's trade strategy may need adjustments to handle potential challenges from a possible second term for Donald Trump.
Finmin appoints SBI Chairman C S Setty, Uday Kotak as governing council members of NIIF Trustee
The Finance Ministry has appointed two new members to the Governing Council of the National Investment and Infrastructure Fund Trustee Ltd (NIIFTL) with SBI Chairman C S Setty and Kotak Mahindra Bank director Uday Kotak joining the council. NIIF was set up to boost infrastructure financing, amidst recent approval for additional equity infusion by the government.
Punjab presents slew of demands to boost infra at pre-budget meeting with Sitharaman
Punjab has requested Rs 1,000 crore from the Centre to bolster border security and police infrastructure. The state also sought industrial incentives, restoration of NABARD's ST-SAO limit, and funds for road connectivity, a new Vande Bharat train, crop residue management, and paddy diversification. Additional requests included increased funding for rural housing, the National Health Mission, and urban transportation.
Budget 2025: Exempt income-tax up to ₹10 lakh, check Chinese imports, urge RSS Unions to Nirmala Sitharaman
Union Budget 2025: RSS-affiliated unions proposed several measures during their pre-budget consultations with Finance Minister Nirmala Sitharaman. They suggested raising the tax-exempt income to ₹10 lakh, expanding MGNREGA to 200 days of work, and introducing a comprehensive manufacturing policy to limit Chinese imports. They also sought a special agriculture package and other economic measures.
Budget 2025: States may get special aid despite capex slip
India Budget: The Centre is set to disburse the next installment of special assistance to states despite unmet capital expenditure targets. The allocation has increased to ₹1.5 lakh crore, with ₹95,000 crore tied to conditions. Due to election-related impacts, states have sought relaxation in conditions to boost spending. Approved projects now total ₹88,000 crore.
Pre-Budget consultations: Lifting private investments, consumption and jobs dominate talks with FM Sitharaman
Finance minister Nirmala Sitharaman concluded pre-Budget consultations, receiving diverse suggestions focused on spurring private investments, employment, and urban consumption. Stakeholders proposed a comprehensive manufacturing policy, personal income tax cuts, and increased capex while emphasizing support for farm and MSME sectors to boost overall growth.
Budget 2025: Plastics manufacturers' body seeks PLI scheme to help scale up global presence
Union Budget 2025: All-India Plastics Manufacturers' Association has urged the government to introduce a production-linked incentive scheme for the plastics sector. They also requested a reduction of GST to 'nil' for plastic waste and recycling machinery, lowering GST on recycled plastic granules, and providing subsidies for recycling equipment. This aims to increase India's share in the global plastics market.
Budget 2025: 10 central trade unions suggest repeal of labour codes; universal social security
Union Budget 2025: Ten central trade unions proposed new resource mobilisation strategies like inheritance tax in a pre-budget consultation. They urged for higher income tax rebates and more funds for employment schemes. Bhartiya Mazdoor Sangh made separate suggestions. Unions also called for a social security fund for unorganized workers and a higher minimum pension.
Budget 2025: From hike in EPFO pension to Rs 5,000 to constitution of pay panel- what trade unions want from Nirmala Sitharaman
Union Budget 2025: Trade Unions urged for a hike in minimum EPFO pension to Rs 5,000 per month, the establishment of the 8th Pay Commission, and higher taxes on the super-rich in the 2025-26 Budget. They also called for higher income tax exemption limits and social security for gig workers and agricultural laborers, and advocated the restoration of the old pension scheme.
FM Sitharaman holds pre-budget consultation with representatives of trade unions
Budget 2025: Finance Minister Nirmala Sitharaman chaired the eighth Pre-Budget Consultation meeting with trade unions for the Union Budget 2025-26. The session aimed to understand the trade unions' perspectives and gather inputs for effective policy shaping. The budget, to be presented on February 1, 2025, will address economic challenges and promote growth. Sitharaman's pre-budget consultations included stakeholders from various sectors.
How Budget 2025 could shape the future of Indian farmers
Agriculture sector contributes over 15% to India's GDP and employs 45% of the population. Farmers face distress and seek measures like lower loan interest rates, increased PM-KISAN support, and GST exemptions. The upcoming Union Budget 2025 is crucial. Expert recommendations include climate-resilient seeds, policy stability, R&D investment, and biofuel promotion to enhance income and well-being.
Nirmala Sitharaman meets MSME stakeholders in pre-Budget consultation
Finance Minister Nirmala Sitharaman held a pre-Budget meeting with Micro, Small, and Medium Enterprises (MSME) representatives to gather inputs for the 2025-26 Budget. The meeting included various industry associations and government officials. This is Sitharaman's third pre-Budget consultation, following meetings with economists and agricultural stakeholders. The budget is expected to be presented on February 1.
Budget 2025: Plan to multiply value-added exports soon
Union Budget: The upcoming budget is expected to boost exports of value-added products with competitive rupee export credit rates. The focus may shift from labour-intensive goods to value-added items, aiding job creation. The Interest Equalisation Scheme may extend benefits beyond MSMEs, fostering growth as part of the Viksit Bharat 2047 goal.
Weighed down by guarantees, Karnataka remains top borrower in South; it's ticking bomb, warns BJP
Karnataka plans to borrow Rs 48,000 crore in January-March to fund its flagship guarantee schemes, the highest among the southern states. Chief Minister Siddaramaiah is set to present the budget in March, targeting a significant increase in open market loans while the state faces criticism for prioritizing welfare schemes over economic development.
Budget 2025: CII's seven-point agenda on how govt can boost employment generation
The Confederation of Indian Industry (CII) has proposed measures for the 2025-26 Union Budget to boost employment, including a National Employment Policy, labour code implementation, and increased female workforce participation.
Lok Sabha MP writes to FM Nirmala Sitharaman, seeks intervention in Tata Sons' listing row
Lok Sabha MP Kaushalendra Kumar has urged Finance Minister Sitharaman to probe Tata Sons' listing issues, citing potential harm to the credibility of the RBI and Government. Allegations also suggest conflict of interest due to Venu Srinivasan's dual role at Tata and the RBI.
GST Council Meeting: Press Conference by Union Finance Minister Nirmala Sitharaman | Live
The 55th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold. The GST Council is also set to discuss several changes, including reducing tax on life and health insurance premiums, food delivery platforms, and aviation turbine fuel. It may raise taxes on luxury goods like wristwatches, shoes, and apparel, and introduce a 35% tax for sin goods.GST Council Meeting: Press Conference by Union Finance Minister Nirmala Sitharaman | Live
Nirmala Sitharaman & Co said to be evaluating windfall tax
India's government is reviewing the windfall tax on local crude oil. The tax was introduced in July 2022 after global crude prices surged. It was reduced to zero in September. Officials are analyzing tax collections and crude price trends. They may remove the tax completely. The government wants to ensure fair pricing for consumers and producers.
ICAI bats for concessional tax regime for partnership firms
The Institute of Chartered Accountants of India has proposed a special tax regime for partnership firms in light of the 2024 Budget review of the Income-tax Act. They also recommend simplifying tax laws, reducing litigation, and various other tax reforms. They aim to foster economic growth, environmental sustainability, and tax simplification.
Budget 2025 Wishlist: Financial sector seeks tax sops, steps to deepen financial markets
Union budget: Bank representatives and financial sector stakeholders suggested tax incentives for fixed deposits in the upcoming Budget to encourage savings. Additional proposals included improving capital market efficiency and incentivising long-term saving. The NBFC sector proposed a refinance window for green finance and electric vehicles. The meeting was chaired by Finance Minister Nirmala Sitharaman and attended by various secretaries and officials.
'Holding phone in right hand will attract 18% GST': Insta prank on GST goes viral, watch video
Following an announcement about an increase in GST on caramel popcorn, the Finance Minister clarified caramelised popcorn is taxed higher due to added sugar. This led to social media trends and pranks related to GST. The GST Council later stated no changes to the tax structure. People expressed their opinions with memes and a viral prank video emerged.
India Budget: Sitharaman meets financial-capital market stakeholders ahead of Budget 2025
Budget 2025: Finance Minister Nirmala Sitharaman held her seventh pre-Budget consultation with financial sector and capital market stakeholders. Despite India's economy growing at 5.4% in Q2 of 2024-25, lower than RBI's 7% forecast, the government is focusing on recovery amid weak consumption and GDP numbers.
Can Budget 2025 address India's unemployment woes?
India’s economic growth faces a major challenge with rising joblessness, threatening the nation's demographic dividend. Economists urge the government to focus on labor-intensive industries, vocational training, and MSME support in the upcoming budget to create jobs and sustain growth.
Nirmala Sitharaman says she was mocked for wanting to learn Hindi in Tamil Nadu
Nirmala Sitharaman during heated discussion in Lok Sabha on Banking Laws (Amendment) Bill, 2024 said that she was mocked in the streets of Tamil Nadu for wanting to learn Hindi.
RBI Governor Shaktikanta Das meets FM Nirmala Sitharaman in Delhi
RBI Governor Shaktikanta Das met with Finance Minister Nirmala Sitharaman days before his term ends on December 10. The meeting fueled speculation about a possible extension, which would make Das the longest-serving governor since 1957. No official announcement has been made regarding his future tenure.
India to be hit as Trump 2.0 will see start of trade wars; Budget 2025 will be one of continuity: Swaminathan Aiyar
Trump is likely to impose tariffs, initiating trade wars that could impact India and other countries. Uncertain global conditions might drive investors toward the dollar, affecting emerging markets. Additionally, India's upcoming budget is expected to focus on continuity and capex, while inflation rates remain a concern for the new RBI governor.
Union Budget 2025: The revolution Sitharaman could bring for EV industry's boom on Feb 1
Budget 2025: Union Finance Minister Nirmala Sitharaman will present the 2025-26 Budget in February. The electric vehicle industry anticipates key initiatives to support its growth. Measures could include reduced GST on EV batteries, upgraded infrastructure status for charging stations, and performance-linked incentives for manufacturing. These steps could help the EV market become more affordable and accessible.
Lower Q2 growth a temporary blip, no production slump: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman expressed optimism about India's economic growth, downplaying the recent 5.4% dip as a "temporary blip." She highlighted the 8.3% average annual growth over the past three years and robust performance in several manufacturing segments. Sitharaman also emphasized the NDA's superior inflation management compared to previous administrations.
India Budget: As we enter 2025, a lot is riding on Sitharaman's Feb 1 budget
Union Budget 2025: India's economy in 2025 hinges on the Union Budget, presented by Finance Minister Nirmala Sitharaman, to address slowing growth, high inflation, and faltering private consumption. The budget aims to cut income tax, boost infrastructure spending, and maintain capital expenditure momentum, targeting economic revival.
Inflation global challenge; restoring normalcy top priority: FM Nirmala Sitharaman
India's finance minister called for global peace and dialogue. She highlighted the economic impact of conflicts. Supply chain disruptions and inflation are key concerns. Sitharaman emphasized aligning economic and political strategies. She advocated for supporting both large and small businesses. This approach promotes inclusive growth and job creation. The minister also addressed climate change and its impact on vulnerable populations.
Congress 'anti-women', amended Constitution to help 'family': Nirmala Sitharaman in Rajya Sabha
Finance Minister Nirmala Sitharaman criticized the Congress party for amending the Constitution to benefit their dynasty and for not passing the Women's Reservation Bill. She highlighted Congress's economic policies and suppression of free speech, contrasting them with the BJP's commitment to women's empowerment and the enduring strength of India's Constitution.
Budget track: India Inc seeks triple boost - jobs, infra, consumption
Confederation of Indian Industry president Sanjiv Puri suggested a seven-point agenda to propel growth, including employment generation, integrating India into global value chains, increasing capital expenditure and a target to reduce government debt to 50% of the GDP.
Inflation major challenge globally, no country can tackle it in isolation: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman addressed the CII Global Economic Policy Forum, highlighting inflation as a global challenge requiring collective action. While India's retail inflation likely eased in November due to moderating vegetable prices, the RBI maintained steady interest rates, citing price pressures and downgraded growth forecasts. Wholesale inflation also showed signs of decline.
LIVE | FM Sitharaman's reply in Lok Sabha on Banking Laws (Amendment) Bill, 2024
India News Live Updates: Banks are being professionally run today, metrics healthy so they can go to the market and raise bonds, raise loans & run their business accordingly, says Nirmala Sitharaman.LIVE | FM Sitharaman's reply in Lok Sabha on Banking Laws (Amendment) Bill, 2024
Budget 2025: Abolish Securities Transaction Tax, align other tax rates, PHDCCI shares wishlist with Sitharaman
Budget 2025 expectations: PHD Chamber of Commerce and Industry has shared its budget expectations, calling for tax reforms, including abolition of Securities Transaction Tax and lower rates for individuals and LLPs. It also advocates for fast-tracking tax appeals and a significant boost in capital spending to drive economic growth and support infrastructure development.
Budget 2025: Major overhaul in TCS/ TDS regime expected? Here's what the industry wants
Union Budget 2025 expectations: FICCI proposed simplifying India's tax structure and supporting women's workforce participation for the Union Budget 2025-26. Recommendations include consolidating TDS/TCS rates, introducing tax exemptions on daycare expenses, and using CSR funds for female worker dormitories. FICCI also suggested an Independent Dispute Resolution forum and eliminating redundant TDS/TCS for transactions subject to GST.
High-profile cases involving CBI, ED: Trials set to begin without delay in New Year; Restitution of assets in focus
The CBI and ED will commence trials in several high-profile corruption and money laundering cases. This includes cases against Lalu Prasad, Tejashwi Yadav, and AAP leaders. The trials have been delayed but are now being expedited. The ED is also focusing on returning assets to victims. High-profile trials are expected to start in 2025.
Budget expectations: ESC bats for incentives to promote R&D, innovation in electronics hardware sector
Union Budget 2025: ESC proposes to enhance the Design Linked Incentive (DLI) scheme and suggests additional tax reductions for Indian corporations investing in R&D. They also advocate for a 10-year extension of the DLI scheme and a tax holiday for IP-based product sales to boost innovation and reduce import dependency in India's electronics sector.
Public sector banks safe, stable & healthy: FM Nirmala Sitharaman
Finance minister Nirmala Sitharaman emphasizes the importance of a stable banking sector. The Banking Laws (amendment) Bill, 2024 allows up to four nominees per account and improves governance. The bill aims to protect investor interests and enhance customer convenience. The Lok Sabha has passed the bill by voice vote, ensuring the sector's stability and profitability.
Scindia aims to make postal dept profitable by 2029, seeks funds from Finance Minister
Union Communications Minister Jyotiraditya Scindia has requested funds from Finance Minister Nirmala Sitharaman to make the Department of Posts profitable by 2029. Plans include infrastructure development, automation, and business process re-engineering to enhance customer acquisition and retention, with a focus on expanding market share in mail and parcel services.
Jyotiraditya Scindia and FM Sitharaman discuss plans to transform India Post into profitable logistics company
Union Minister Jyotiraditya Scindia presented India Post's capital expenditure demands to Finance Minister Nirmala Sitharaman, aiming to make it profitable by 2029. Scindia's plan includes digitalizing processes, improving infrastructure, and introducing attractive B2B and B2C services to compete in the logistics industry.
GJEPC seeks government support to promote diamond exports and protect jobs
The Gem & Jewellery Export Promotion Council (GJEPC) is seeking government support to promote natural diamonds in international markets to protect jobs and exports. Chairman Vipul Shah has requested funding assistance and proposes the inclusion of Jewellery Parks in infrastructure lists. GJEPC is also focusing on creating an ecosystem for platinum and promoting tariff adjustments.
Budget 2025: Cut income tax rates! The clamour is getting louder for a reason
Budget 2025 expectations: Finance Minister Nirmala Sitharaman is under pressure to reduce income tax rates for individuals earning up to Rs 15 lakh annually. This move aims to boost consumption and revive demand. Reducing tax rates could provide relief to the middle class affected by inflation. The government aims to balance fiscal prudence with economic growth in Budget 2025.
India’s government cites RBI policy for slowdown
India’s government partly blames the central bank’s tight monetary policy for weak economic performance. They expect growth to improve in the second half of the fiscal year as demand increases and restrictive measures ease. The central bank may cut interest rates to support growth. Rural and urban demand shows signs of recovery.
$25 billion opportunity in US: Exporters seek ₹750 crore marketing fund
Exporters requested a ₹750-crore marketing fund over three years to leverage a $25-billion export potential in the US, and a higher cap for interest subvention under export promotion schemes. They sought support amid declining goods exports and aimed to capitalize on opportunities from potential high US tariffs on Chinese goods.
Budget 2025: Nirmala Sitharaman holds meet with states; Punjab and Kerala seek special financial packages
Punjab and Kerala have sought special financial packages during pre-Budget consultations with Finance Minister Nirmala Sitharaman. States also requested increased borrowing limits, higher allocation for interest-free loans, and greater flexibility in capital investment schemes. Several state representatives attended the meeting alongside finance ministry officials, ahead of the GST Council meeting in Jaisalmer.
Andhra Pradesh Chief Minister N Chandrababu Naidu discusses rail, steel projects with Union Ministers
Andhra Pradesh Chief Minister N Chandrababu Naidu met with the Prime Minister and Union Ministers to discuss projects. He talked with Ashwini Vaishnaw about railway and IT setups and demanded permissions for a steel facility. Naidu also met Finance Minister Nirmala Sitharaman on the Vizag steel plant issue. Reports suggest the government has dropped plans to privatise it.
Purvodaya 2024: All roads lead toward Viksit Bharat
Eastern India's development gains momentum through infrastructure projects, educational initiatives, and strategic policies like the Purvodaya plan. Recent focus aims to leverage the region's resource wealth and cultural heritage, positioning it as a key player in India's economic and global engagement.
NATHEALTH asks govt to address systemic gaps in healthcare in upcoming Budget
Union Budget: NATHEALTH urges the Indian government to address healthcare gaps like the shortage of medical specialists, rising cancer care costs, and inadequate hospital infrastructure in the union Budget. Recommendations include increasing healthcare budget to over 2.5% of GDP, reducing treatment costs, expanding hospital capacity, and improving medical education.
Unexpected, unprecedented Maharashtra victory is message towards Viksit Bharat: Nirmala Sitharaman
Addressing the legislative party meeting, Sitharaman said, "I congratulate all elected MLAs. I congratulate Devendra Fadnavis to being elected as the leader of the legislative party. The mandate of 14 crore voters in this election is a message for whole India. This was not just a regular assembly election. After Lok Sabha elections, the citizens of the country have given a clear mandate through Haryana elections and then Maharashtra elections. Unexpected and unprecedented victory in Maharashtra is a big message towards the Vikshit Bharat."
Budget 2025: Why Nirmala Sitharaman needs to revamp priority sector lending and how it can drive growth
Budget 2025: The CII has recommended changes to India's lending policy for the 2025 budget. They want a review every 3-4 years. CII suggests including green energy and digital infrastructure. They also propose a bigger role for specialized financial institutions. This aims to support India's economic growth and innovation goals.
Union Budget 2025: Will the government continue to support India's startup ecosystem?
Finance Minister Nirmala Sitharaman will present the budget for FY26 on February 1, 2025, with expectations from the Indian startup ecosystem for facilitating policies. Previous measures included abolishing angel tax and adjusting e-commerce tax rates. Continued government support, funding initiatives, and infrastructure development are crucial for driving innovation and startup growth.
Popcorn, in loose form, sold in movie theatres to attract 5% GST
Popcorn sold in loose form in movie theatres will continue to attract a GST rate of 5 per cent. If popcorn is sold together with a movie ticket, it will be taxed at the rate applicable to the ticket. Popcorn mixed with salt and spices is classified as namkeen and also attracts a 5 per cent tax.
PM Modi seeks expert insights from top economists ahead of Union Budget
Prime Minister Narendra Modi met with a group of eminent economists and thought leaders on Tuesday to discuss preparations for the Union Budget 2025-26 at NITI Aayog. The meeting focused on "Maintaining India's growth momentum amid global uncertainty." Modi emphasized the need for a mindset shift to achieve a developed India by 2047.
Budget 2025: PM Modi meets economists, experts to get their views
Prime Minister Narendra Modi is consulting with prominent economists and experts to gather insights for the upcoming 2025-26 Budget, set to be presented by Union Finance Minister Nirmala Sitharaman on February 1, 2025. Key attendees include Niti Aayog officials and notable economists such as Surjit Bhalla and DK Joshi, aimed at shaping effective economic strategies.
Ahead of the budget, PM Modi to meet economists today
Prime Minister Narendra Modi plans to consult with economists regarding the first budget of his third term amid concerns about economic slowdown and weak consumption. This session is crucial given India's reduced growth projections and the imminent US policy changes under Donald Trump's administration.
GST Council clears "track and trace" mechanism, cigarettes and pan masala likely first targets
The GST Council will track cigarettes and pan masala to stop tax evasion. A unique code will be placed on products. This will help the government follow the products. The government loses lots of money from illegal cigarette sales. This new system will help recover that money. Similar systems are used in other countries.
ED restores properties worth Rs 22,280 cr to banks, legitimate claimants: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman announced the recovery of Rs 22,280 crore in assets from economic offenders, including Vijay Mallya and Nirav Modi. Recovered funds have been returned to affected banks and investors. Sitharaman emphasized the government's continued pursuit of offenders, even those who have fled the country.
Budget 2025 expectations: Old tax regime continuation, capital gains tax simplification, reliefs on NPS, crypto, and more: Here's what experts want
With Union Budget 2025 around the corner, experts are voicing what they would want from FM Sitharaman in February next year. Some proposals include enhancing the appeal of NPS as a retirement planning vehicle, reducing TCS on foreign remittances, and tax reliefs for annuity, crypto, and term insurance. Read on to know what India expects from Budget 2025
Karnataka Revenue Minister Krishna Byre Gowda pitches for higher professional tax, saying its value has dropped over the years
Karnataka Revenue Minister Krishna Byre Gowda advocated for a Constitutional amendment to raise the professional tax cap. Gowda highlighted the tax's stagnation amidst inflation, emphasizing its diminished value. He and other states proposed increasing the current Rs. 2,500 annual limit to Rs. 6,000, citing decades of economic growth.
FM Sitharaman explains difference in GST rates between salted and caramel popcorn
The GST Council, led by Finance Minister Nirmala Sitharaman, has clarified the tax treatment of popcorn. It has been decided that pre-packed and labelled ready-to-eat popcorn will attract a 12% GST, while caramelised popcorn (mixed with sugar) will be taxed at 18%. Importantly, there is no change in the existing tax rates. The Council has simply agreed that the Central Board of Indirect Taxes and Customs (CBIC) will issue a circular to provide further clarity on the current taxation rules for popcorn. Under the current system, ready-to-eat popcorn, which is typically mixed with salt and spices and has the characteristics of namkeens, attracts a 5% GST if it is not pre-packaged or labelled. If it is pre-packaged and labelled, the GST rate is 12%.FM Sitharaman explains difference in GST rates between salted and caramel popcorn
Constitution debate in Rajya Sabha: Congress gagged freedom of speech when in power, says Nirmala Sitharaman
Finance Minister Nirmala Sitharaman, during a Rajya Sabha debate on the Constitution, highlighted its resilience compared to other post-World War II constitutions. She criticised Congress for allegedly suppressing free speech, citing the 1951 amendment as an example of Nehru's government curbing freedoms for partisan gain.
Budget 2025: States to get more funds for disaster relief via interest-free loan scheme
States will receive interest-free 50-year loans for disaster-related programs, including infrastructure rebuilding and mitigation measures. An additional ₹5,000 cr incentive will encourage urban planning. The Scheme for Special Assistance to States for Capital Investment (SASCI) will provide up to 100% additional funding for eligible states, prioritizing disaster-affected districts and future catastrophe mitigation.
GST Council approves 'Track and Trace Mechanism' to curb evasion
The GST Council approved a 'Track and Trace Mechanism' for evasion-prone goods, using unique identification markings. Rate cuts were announced on fortified rice kernels and gene therapy, while contributions to the Motor Vehicle Accident Fund and voucher transactions are now GST-exempt. Clarifications were issued on pre-packaged goods and penal charges by banks.
FM Nirmala Sitharaman to start pre-Budget consultation with various stakeholders from December 6
Finance Minister Nirmala Sitharaman will begin pre-Budget consultations with various stakeholders starting on Friday. She will meet economists and other groups across sectors until December 30. These consultations are for the Union Budget 2025-26, which will be tabled on February 1. This Budget aims to provide policy direction for achieving the goal of a developed India by 2047.
Politicians use sartorial choice to reinforce their image – after all, we all are what we wear
Politicians are increasingly using clothing to project carefully crafted images. From Kejriwal's 'common man' sweater to Priyanka Gandhi's statement tote bags, attire is now a potent political tool. Global figures like Modi, Thatcher and even Trump utilise wardrobe choices to convey power, relatability, or ideology.
GST Council meet: From no GST on penal charges by banks, NBFCs for loan defaults to 5% GST on new EVs & more; Here are top 10 outcomes
The GST Council lowered the compensation cess rate for merchant exporters to 0.1% and reduced the tax on fortified rice kernels to 5%. The exemption for missile parts was extended. Clarification was issued on popcorn taxation, with pre-packed, ready-to-eat varieties at 12% and caramelized versions at 18%.
Nirmala Sitharaman applauds Mumbai airport customs for seizing smuggled gold worth Rs 1.48 crore
Customs officials at Mumbai's CSMI Airport seized over 2 kg of smuggled gold worth ₹1.48 crore in two separate incidents. One passenger concealed gold dust within their body cavity, while an airport staff member was caught with gold received from a transit passenger. Finance Minister Nirmala Sitharaman praised the officials' vigilance. Both individuals were arrested, and investigations are ongoing.
Central tax officers book 12,803 GST evasion cases in Gujarat in 4 years, 101 persons arrested
Finance Minister Nirmala Sitharaman revealed that 12,803 GST evasion cases were booked in Gujarat from 2021-2024, with 101 arrests. In a related update, Minister Pankaj Chaudhary provided GST collection details, noting a significant rise in gross revenues and issued refunds over the past five financial years, with current fiscal collections reaching Rs 12.74 lakh crore.
