Market sentiment is likely to remain cautious as investors position themselves for the upcoming Union Budget and the US Fed's interest rate decision, where expectations are muted.
So tell us, does Sitharaman's budget deserve cheers or boos?
'Storytelling will never change.' 'As long as storytelling can be unpredictable... AI cannot tell you an unpredictable story.'
The session will conclude on July 3.
The Congress party has accused the government of stifling opposition voices in the Lok Sabha, alleging that opposition leaders are not being allowed to express their views while the government side faces no such restrictions.
The disqualification of wrestler Vinesh Phogat in the Olympics after being found overweight before the final bout also saw the government and Opposition come to blows in Parliament.
At the customary meeting ahead of the session beginning Monday, the opposition raised various issues, including voter roll revision in Bihar, the Pahalgam terror attack and Trump's 'ceasefire' claims.
On Friday, January 31, 2025, Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-2025 in the Lok Sabha.
Indian equities declined on Friday, with the benchmark Nifty posting its worst weekly fall since September, as foreign investor sentiment remained weak amid tepid earnings growth and little progress on the India-US trade front.
The productivity of the Budget session was abysmal. The Lok Sabha functioned for 33% of its scheduled time (46 hours); the Rajya Sabha 24% (32 hours).
Opposition parties have called for a discussion in Parliament on the Maha Kumbh tragedy and the UP government's alleged focus on VIPs rather than the common pilgrims. Union minister Kiren Rijiju has stated that the Business Advisory Committee will decide on the agenda of the Budget Session, which will start from January 31. The Session will commence with President Droupadi Murmu addressing the joint sitting of Lok Sabha and Rajya Sabha. The Union Budget will be presented on February 1.
With an aggressive Opposition and unyielding government, important legislation could be the biggest casualty, as details of the helicopter contract surface.
The Halwa ceremony, marking the final stage of the budget preparation process for Interim Union Budget 2024, was held in North Block on Wednesday in the presence of Union Finance Minister Nirmala Sitharaman. Union Minister of State for Finance Dr Bhagwat Kisanrao Karad was also present. A customary halwa ceremony is performed every year before the "lock-in" process of Budget preparation begins.
The total assets of the country's sitting legislators amount to Rs 73,348 crore, which is more than the combined annual Budgets (2023-2024) of Nagaland (Rs 23,086 crore), Tripura (Rs 26,892 crore), and Meghalaya (Rs 22,022 crore), totaling around Rs 72,000 crore.
Lok Sabha Speaker Om Birla on Friday constituted a 31-member Select Committee of the lower house to examine the Income Tax Bill. To be headed by Bharatiya Janata Party's Baijayant Panda, the panel is mandated to submit its report by the first day of the next session.
India's opposition parties have sharply criticized the Union Budget, calling it inadequate to address the country's economic woes and accusing the BJP-led government of using it to woo voters in Bihar and Delhi ahead of upcoming elections. Leaders from the Congress, TMC, DMK, SP, and CPI(M) voiced their disapproval, highlighting concerns over inflation, unemployment, and the lack of substantial measures to support the agricultural sector and the poor. They also criticized the tax cuts for the middle class as insufficient and coming too late after years of high taxes and rising prices.
Australia all-rounder Cameron Green has confirmed that he will be fully available to bowl in the Indian Premier League's 2026 season, clarifying that his listing as a batter rather than an all-rounder ahead of Tuesday's auction was due to a "stuff-up" by his manager.
A bill allowing the Centre to declare an area in a state as communally disturbed on its own and send central forces without the state's request, is likely to be introduced in the ongoing session of Parliament.
The Rajasthan unit of the BJP expelled state spokesperson Krishna Kumar Janu for six years for publicly criticizing the party's treatment of former governor Satya Pal Malik and ex-vice president Jagdeep Dhankhar.
With less than six months left for this financial year and poor response from applicants, launching the scheme this year is unlikely.
The Bill is likely to pave the way for amending two existing legislations -- the Atomic Energy Act 1962, and the Civil Liability for Nuclear Damage Act 2010.
The BJP has criticised Congress leader Rahul Gandhi for his explanation of decentralisation using a car and motorcycle engine analogy at a university in Colombia.
The Union Cabinet on Friday approved 100 per cent foreign direct investment (FDI) in the insurance sector, a move that was welcomed by industry as it would help attract more capital and global expertise, while boosting insurance coverage in the country. A bill to amend the insurance law is likely to be tabled on Monday in Parliament, whose winter session is slated to conclude on December 19.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
The president outlined the government's agenda in the coming financial year in his customary address to the joint sitting of both the Houses of Parliament.
Kush Maini will get the taste of a modern Formula 1 machinery for the very first time when he takes the wheel of the current Alpine car in the Young Driver Test.
A complaint was filed against Congress leader Sonia Gandhi in Muzaffarpur, Bihar, for her 'poor thing' remark on President Droupadi Murmu. The complaint, filed by a lawyer, seeks registration of an FIR against Sonia Gandhi, Rahul Gandhi, and Priyanka Gandhi Vadra for allegedly disrespecting the country's highest constitutional authority. The court will hear the matter on February 10.
The prime minister, who spoke in the Upper House as it bid farewell to 53 retiring MPs, noted that Rajya Sabha members are representatives of the states and the interest of their state should be a priority for them.
Parliament introduces a new 'Health Menu' featuring millet-based dishes, salads, and lean protein options to promote healthier eating habits among lawmakers, officials, and visitors.
Karnataka Chief Minister Siddaramaiah announced reservation for Muslims in supplying goods and services up to a value of Rs 1 crore to various government departments, corporations and institutions in the state budget for 2025-26. The budget also increased the value limit of government contracts in which Muslims can avail reservation to Rs 2 crore. The reservation to Muslims under 2B category is in addition to the Scheduled Caste, Scheduled Tribe, and Castes coming under Category-1, Category-2A. The budget also included various welfare schemes for minorities, including Rs 50,000 to support simple marriages and Rs 1,000 crore under the Chief Minister's Minority Colony Development Programme.
China has announced a 7.2 percent increase in its national defence budget, bringing the total to USD 249 billion for the year. This rise comes amidst China's ongoing efforts to modernize its armed forces, including the development of new warships and fighter jets. The budget increase, exceeding last year's 7.2 percent rise, reflects China's commitment to bolstering its military capabilities. Chinese Premier Li Qiang emphasized the importance of the Communist Party's leadership in guiding the military, with President Xi Jinping at the helm of the Central Military Commission. China's defence spending is now three times that of India's and is viewed by critics as a sign of the country's growing military ambitions.
BJP's Satara MP Udayanraje Bhosale, a descendant of Maratha king Chhatrapati Shivaji Maharaj, had sought the removal of Aurangzeb's tomb located in Chhatrapati Sambhajinagar district.
The Comptroller and Auditor General of India (CAG) has launched an integrated audit across 32 states and Union Territories to assess the ease of doing business for the micro, small and medium enterprise (MSME) sector.
This has been our history of good governance: Things that were difficult to do and required planning and implementation were first taken up and then abandoned, notes Aaakr Patel.
The government, in the forthcoming Budget, could consider levying higher tariffs on imports to check the significant decline in rupee value witnessed in the past few months, said EY Chief Policy Advisor DK Srivastava. The noted economist argued that higher import duties would curb the demand for dollars from importers and help arrest the sliding value of the rupee, which touched a historic low of 86.70 to a dollar on January 13.
The privileges committee of the Maharashtra legislature will issue a show cause notice to stand-up comic Kunal Kamra for his remarks against Deputy Chief Minister Eknath Shinde. Shiv Sena (UBT) leader Sushma Andhare will also receive a notice.
Modi's inability to make peace with a renewed Opposition will only embolden his coalition partners and it is just a matter of time before they begin asking probing questions besides politely disagreeing with his tactics, predicts Nilanjan Mukhopadhyay.
State finance minister T Harish Rao began introduction of Budget 2022-23 soon after the House met, even as BJP floor leader T Raja Singh and others tried to draw the attention of Speaker Pocharam Srinivasa Reddy.
Addressing both the Houses of Parliament assembled together in the Lok Sabha chamber, Murmu said the government has taken numerous measures to control these cyber threats, creating opportunities for employment in the field of cybersecurity for the youth.
Market reaction to the Union Budget was overall neutral. The income tax "gift" wasn't enough to move the needle. There was some apparent rationalisation of Customs duty structure as well as cuts on import duties of some key components for the telecom and IT industry and duty cuts on vehicle imports. Other proposals related to development of agriculture and rural economy and renewables seem to be generally positive.
