India's 2030 Commonwealth Games bid is set to be formally approved on Wednesday at the Commonwealth Sport's general assembly in Glasgow.
Recent documents by NITI Aayog and periodic labour force surveys on employment show that the importance of agriculture is rising in the Indian economy.
India's $280-billion IT industry heads into 2026, balancing visa-related headwinds and global trade uncertainty against its biggest-ever push into artificial intelligence and the rapid expansion of global capability centres (GCCs). Heightened scrutiny of the US H-1B visa programme - including a proposed $100,000 fee for new visas and concerns over a potential 25 per cent outsourcing tax - has complicated cross-border delivery for Indian firms, even as companies accelerate efforts to reduce reliance on onsite staffing.
The Centre's fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit -- the gap between government's expenditure and revenue -- was at Rs 7,50,824 crore during April-October period, according to data released by the Controller General of Accounts (CGA). The deficit stood at 45 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24.
'We expect inbound numbers in 2025 to come close to pre-pandemic levels -- if not fully match them -- by early 2026.'
Paraphrasing Abraham Lincoln, Finance Minister Nirmala Sitharaman on Sunday described the Union Budget as "by the people, for the people, of the people", and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for the middle class but it took time to convince the bureaucrats. "We have heard the voice of the middle class" who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
In her Budget speech, Finance Minister Nirmala Sitharaman on Tuesday underlined the need for collaboration between the Centre and states to take up the next-generation reforms covering land, labour, capital and entrepreneurship. As far as revenue share goes, the government has projected to give about 32.5 per cent of central taxes to states during FY25, against the 15th Finance Commission's recommendation of 41 per cent, according to the Union Budget estimate.
Whether the ambitious targets are achievable is a moot question as India's earlier target was 20,000 MW of nuclear power by 2020.
'There is no immediate threat to the government, and they would prefer the growth agenda.'
Despite a strong 7.8 per cent growth in the first quarter, the Indian economy is expected to grow at 6.5 per cent in the current financial year as the impact of US tariffs on Indian exports will reduce prospects, particularly in the second half, ADB said on Tuesday.
The agency received Rs 911 crore to manage its affairs in the Budget Estimates for 2022-23, which was later decreased to Rs 906.59 crore in the Revised Estimates.
10 largecaps stocks which stand to gain from the Budget.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
The outlay for defence sector almost remained unchanged compared to what was allocated in the interim budget on February 1.
The Department of Social Justice and Empowerment has received Rs 13,611 crore in the Union Budget announced on Saturday, while the allocation for disability welfare now stands at Rs 1,275 crore.
After the disappointment of War 2, there was some respite this weekend as Param Sundari managed to have a decent opening at the box office.
Union Finance Minister Nirmala Sitharaman on Tuesday said the fiscal deficit for 2024-25 is estimated at 4.9 per cent of GDP.
As per the Interim Budget 2024-25 document tabled in the Lok Sabha, the government is not expected to receive any money from monetisation of public assets in the current fiscal.
The Pradhan Mantri Awas Yojana-Grameen has the highest unutilised amount (Rs 13,111 crore) compared to any other centrally sponsored scheme.
Several leading scientists, academicians, and agriculturalists have called for raising government support for research and development to make Indian agriculture future-ready.
India fully utilised its military modernisation budget in 2024-2025 -- the first time in five years -- and signed a record Rs 2 trillion defence contracts.
Analysts and economists have hailed the fiscal projections in the interim Budget, saying the lower fiscal deficit forecast shows that the government, even in an election year, is serious about fiscal consolidation and that the numbers look achievable. According to Devendra Kumar Pant, the chief economist at India Ratings, the two broad themes of the interim Budget are fiscal consolidation and stepping up focus on agriculture/rural to course correct, to some extent, the differential benefits of the ongoing economic growth that's tilted in favour of upper-income bracket/urban households. The projected fiscal deficit numbers for FY24 and FY25 suggest that the government is serious about achieving the fiscal consolidation path of 4.5 per cent fiscal deficit by FY26, and given the nominal GDP growth assumption and revenue buoyancy, the target appears plausible, Pant said in a note.
Gross GST collections grew 8.5 per cent to over Rs 1.82 lakh crore in November on account of increased sales spurred by the festive season.
Commonwealth Sport's EB recommends Ahmedabad as host for 2030 CWG
Net direct tax collection in the eight months of the current fiscal touched 58.34 per cent of Budget Estimates (BE) at Rs 10.64 lakh crore. The net tax collection for April-November stood at Rs 10.64 lakh crore, which is 23.4 per cent higher than the corresponding period of last year, the ministry of finance said.
The Union health ministry has been allocated Rs 99,858.56 crore in the Budget 2025-2026, an around 11 per cent hike over the Rs 89,974.12 crore in the budget (revised estimates) of 2024-2025 with the government announcing setting up daycare cancer centres at all district hospitals over the next three years.
The government in FY26 Budget should announce an "effective" personal income tax cut to support consumption and demand, Barclays said on Thursday. In its FY25-26 Union Budget preview, Barclays said the key ask from the Budget, to be presented on February 1, is to support growth while adhering to fiscal consolidation path.
'The global situation is not very good.'
In a significant policy shift aimed at boosting agri-productivity and rural prosperity, Finance Minister Nirmala Sitharaman on Saturday announced six new agricultural schemes while increasing the subsidised Kisan Credit Card loan limit to Rs 5 lakh from the existing Rs 3 lakh, benefiting 7.7 crore farmers, fishermen, and dairy farmers.
If he cannot do it this term by using his bureaucracy and experts from different fields, it will be a tragedy, asserts Ramesh Menon.
"Commonwealth Games in India would leave lasting impact by boosting tourism, and creating jobs, the Government said in a statement.
'There's a misconception that all Rs 1 lakh crore will be spent immediately, leading to higher consumption of FMCG goods, travel, and vehicle purchases.' 'While some of this money will go toward consumption, not all of it will.' 'The impact depends on where people deploy their savings.'
States are on track of fiscal consolidation with their total borrowings reaching Rs 5 trillion till October, which is 60 per cent of the projected borrowings of Rs 8.38 trillion till December 2024, according to data from official sources. Government officials said the lower-than-projected borrowings by states were a sign of prudent fiscal management by them. States announce their borrowing plans every quarter.
Banking on the Budget's tax relief, the BJP seeks to energise Delhi's middle class; the AAP is doing its bit too. But will their outreach mobilise this politically crucial yet disengaged electorate?
The Centre's fiscal deficit at the end of the eighth month of financial year 2024-25 touched 52.5 per cent of the full-year target, government data showed on Tuesday. In absolute terms, the fiscal deficit -- the gap between the government's expenditure and revenue -- was about Rs 8.47 lakh crore during the April-November period, according to the data released by the Controller General of Accounts (CGA).
Pakistan suffered an 85 per cent loss after spending Rs 869 crore for hosting the Champions Trophy 2025.
All eyes will be on whether Sitharaman will deliver a populist budget leaving more money in hands of the common man or push the reform agenda by staying on the fiscal glide path to lower the fiscal deficit to 4.5 per cent of GDP by 2025-26.
Going by this Budget's estimate of government spending of Rs 48.2 trillion, the government has allocated a significantly lower percentage to defence -- 12.9 per cent.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
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