The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
The Budget for 2024-25 should focus on employment generation, besides promoting the manufacturing sector, economists attending the pre-Budget consultation meeting with Finance Minister Nirmala Sitharaman here on Wednesday said. The meeting was attended by National Co-convenor Swadeshi Jagran Manch Ashwani Mahajan, Director and Chief Executive of the Institute for Studies in Industrial Development (ISID) Nagesh Kumar, and TCA Anant among others.
For every rupee in the government coffer, the biggest pie of 63 paise will come from direct and indirect taxes, according to the Union Budget 2024-25 documents.
Indian National Developmental Inclusive Alliance (INDIA) MPs, including Congress president Mallikarjun Kharge, Congress Parliamentary Party chief Sonia Gandhi and Leader of Opposition in the Lok Sabha Rahul Gandhi, staged a protest in Parliament premises on Wednesday over the alleged discrimination against opposition-ruled states in the Union Budget.
While the minimum holding period for LTCG taxation has now been lowered, the tax outgo could be a bit higher under the new structure.
Fitch Ratings on Tuesday said the FY25 Budget demonstrated the government's ongoing commitment to reducing fiscal deficit and ensured policy continuity during the NDA government's new term. Finance Minister Nirmala Sitharaman on Tuesday presented the first Budget of the Modi 3.0 government in which she revised the deficit target for current fiscal lower to 4.9 per cent of the GDP, from 5.1 per cent projected in the interim Budget.
Currently, the NAPCC has eight active missions across sectors like water, energy, and agriculture, aimed at addressing climate change.
The next Census' findings will help identify the extent of India's ageing population and vulnerability levels.
Finance Minister Nirmala Sitharaman is set to create history when she presents her seventh straight Budget on Tuesday for the fiscal 2024-25, surpassing the record of former prime minister Morarji Desai. Sitharaman, who will turn 65 next month, was in 2019 appointed as India's first full-time woman finance minister when Prime Minister Narendra Modi won a decisive second term.
shant Sharma reflected on his close bonding with Virat Kohli, dating back to their early days in Delhi cricket.
Finance Minister Nirmala Sitharaman on Tuesday participated in a traditional 'halwa' ceremony, marking the final stage for preparation of Union Budget 2024-25 to be unveiled on July 23 in Lok Sabha. The ceremony is a ritual in which traditional dessert 'halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the Budget.
The outcome of the Union Budget, quarterly earnings from corporates and global trends are the major factors to drive stock market sentiments this week, analysts said. Besides, the trading activity of foreign investors, the rupee-dollar trend and the movement of global oil benchmark Brent crude are also crucial aspects to watch out for.
With the tablet carefully kept inside a red cover with a golden-coloured national emblem embossed on it instead of the briefcase, Parliament will be her next destination after the call on President Droupadi Murmu at Rashtrapati Bhawan.
The suspension of 18 Bharatiya Janata Party MLAs from the Karnataka Legislative assembly for six months has been revoked, Speaker U T Khader said on Sunday.
For promoting women-led development, Finance Minister Nirmala Sitharaman on Tuesday said the Budget carries an allocation of more than Rs 3 lakh crore for schemes benefitting women and girls.
'It's clear that fans are eager to be part of the live stadium experience, reflecting a growing trend of travel driven by marquee sporting events.'
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
RR lost as many as 5 games this IPL after being in a seemingly winning position. Had they managed to win those games, they would have sealed a playoff spot.
India has no intention to escalate tensions with Pakistan, but any military attacks on its soil will be met with a "very" firm response, External Affairs Minister S Jaishankar said on Thursday. Jaishankar made the remarks at a meeting with Iranian Foreign Minister Abbas Araghchi, emphasizing that the "barbaric" Pahalgam terror attack compelled India to carry out strikes on "cross-border" terror infrastructure on Wednesday. He reiterated that India's response was targeted and measured, but stressed that any further military attacks would be met with a firm response. The Iranian foreign minister, who landed in New Delhi amidst escalating tensions between India and Pakistan, called for de-escalation of the situation and stressed the need for regional cooperation to eradicate terrorism. The meeting also focused on boosting ties in areas of trade and investment, including the Chabahar port project.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
The Samsung Galaxy F16 5G is a budget-friendly smartphone packed with future-proof features, offering six generations of Android upgrades.
Finance Minister Nirmala Sitharaman's Budget proposals lay out a comprehensive road map for transforming India into a developed nation, focusing on key priorities that aim to generate ample opportunities for all citizens in "Viksit Bharat". It sets the stage for sustained economic growth, social development, and technological advancement.
'Earlier there was no provision for considering TCS collected from the taxpayer for overall tax computation.' 'Now, credit will be given by the employer for TCS already collected to consider net tax to be deductible.'
Finance Minister Nirmala Sitharaman on Tuesday termed misleading claims by opposition leaders that if any state is not named in the Budget speech, then it does not get any budgetary allocation. Replying to a Budget discussion in the Lok Sabha, Sitharaman asserted that no state was being denied money. She recalled that in the past Budgets by the UPA government also did not mention names of all states in their Budget speech.
A boy reportedly cried out for his mother before vanishing in the blaze, and one man jumped from the fourth floor to escape, fracturing his leg, the locals said.
The sequel factor seems to have worked, as audiences have given a thumbs up to the film.
All eyes will be on whether Sitharaman provides the much-expected tax relief for the middle class, leaving more money in their hands, as there is tax buoyancy
Only experienced investors with a high risk appetite, a grasp of market cycles, and comfort with volatility and timing risk should invest.
Whether she will pare the fiscal deficit target of 5.1 per cent of GDP, using the record dividend received from the RBI, or expand flagship government programmes will be keenly watched.
The government will come out with a credit guarantee scheme for MSMEs to facilitate term loans without collateral or third party guarantee, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting her seventh straight Union Budget, she also said that public sector banks to build in-house capability for credit assessment of MSMEs.
A lot of the 100-day programmes would be 'milestone-based' with timelines for achieving targets for social-sector schemes.
The income tax department has notified all seven income tax return forms for assessment year 2025-26. While ITR forms 1 and 4, which are filed by small and medium taxpayers, were notified on April 29; ITR-7, filed by trusts and charitable institutions, was notified on May 11.
Hero MotoCorp is expecting its electric vehicle (EV) business to break even once it reaches monthly sales volumes of 25,000 to 30,000 units, which is a couple of years away, Chief Financial Officer (CFO) Vivek Anand said on Tuesday. "This year, in 2024-25 (FY25), if I really look at my EV performance, our volumes have grown by 200 per cent," Anand told analysts during the company's post-results conference call.
According to experts, even if an additional 5 per cent of people opt to buy new vehicles, it may bring a huge boost to the sector.
Continuing our series on how to achieve Financial Independence and Retire Rarly (FIRE), Vatsal Ramaiya emphasises the importance of planning for retirement.
The Opposition on Tuesday termed the Union Budget as a 'kursi bachao budget' driven by political compulsions and claimed that it ignored opposition-ruled states in a bid to 'appease' Bharatiya Janata Party's allies.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
The US carmaker's entry into India is expected by the last quarter of the current financial year.
Markets regulator Sebi is actively working with the Ministry of Finance and other financial regulators on setting up a centralised KYC (Know Your Customer) system, chairman Tuhin Kanta Pandey has said. The Central KYC is an online database that maintains KYC records of customers in a centralised manner, aiming to streamline compliance across financial institutions.
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