India and Canada are negotiating a long-term uranium supply agreement worth $2.8 billion. They are also exploring expanded civil nuclear cooperation after the passage of the SHANTI Bill.
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.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
Pakistan on Tuesday increased its defence budget by 20 per cent, allocating PRs. 2,550 billion ($9 billion) for the fiscal year 2025-26, amid tensions with India.
The Rural Development Ministry has been allocated Rs 1.88 lakh crore in the Union Budget for 2025-26, around 5.75 per cent more than the allocation in the previous budget.
It was study in contrast between mother and son in the Lok Sabha on Thursday.
The Karnataka high court stayed enforcement of the Karnataka Cinemas (Regulation) (Amendment) Rules, 2025, which fixed a cap for movie ticket prices at Rs 200 across the state.
The Karnataka High Court has stayed the enforcement of a rule that capped movie ticket prices at Rs 200 across the state, following a petition by the Multiplex Association of India and other cinema stakeholders.
'The finance minister missed yet another opportunity to simplify the income tax structure in the Budget.' 'This was an opportune moment to get rid of the old tax system entirely and move fully to the new system,' asserts M Govinda Rao, member of the 14th Finance Commission.
From the word go, Bihar growled its needs out when an MP from the state said aloud: "Give something for Bihar also, Madam." Every time the Budget mentioned cities and towns in Andhra Pradesh, "Kursi Bachao" was the call from Congress MPs.
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.
To tap Indian civil aviation market's growth potential, the government on Saturday announced a modified regional air connectivity scheme UDAN (Ude Desh ka Aam Naagrik) to connect 120 new destinations, airport projects in Bihar and upgradation of infrastructure for air cargo in the Union Budget.
Indian-descent democratic socialist Zohran Mamdani has been sworn in as the Mayor of New York City, marking a new era for the city with a focus on affordability and working-class New Yorkers.
In his budget speech, the minister said the indiscriminate use of chemical fertilisers, herbicides, and pesticides, has led to a decline in overall soil fertility.
It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Nirmala Sitharaman, rare in Indian polity.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
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.
As it gains commercial viability, the food will likely become a powerful political currency.
'But this Budget alone will not fix what ails the Indian economy.'
The FM proposed reduction in basic customs duty on gold and silver to 6 per cent and platinum to 6.4 per cent.
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
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.
'We have to retain some fiscal headroom without compromising on the promised fiscal consolidation roadmap.'
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
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.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
Finance Minister Nirmala Sitharaman on Wednesday said the Union Budget strikes a fine balance between growth, employment, and fiscal consolidation, and promotes cooperative federalism. Replying to the discussion on the Union Budget 2024-25 and Union Territory of Jammu and Kashmir Budget in Rajya Sabha, the minister said the government is on track to achieve the pre-announced fiscal deficit target of 4.5 per cent by 2025-26. Sitharaman, also a former defence minister, said the Agniveer Scheme to recruit people in the age group of 17.5 to 21 years, is aimed at keeping the armed forces fit, young and battle-ready.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
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 government will introduce a new Income Tax bill next week to take forward the "trust first, scrutinise later" concept, Finance Minister Nirmala Sitharaman said on Saturday. In another major reform move, the minister announced that the Foreign Direct Investment (FDI) in the insurance sector will be increased to 100 per cent from 74 per cent.
'Our vision is to innovate as many products as we can and solve as many problems as possible.'
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 Budget 2025-26 meets the expectations of fiscal consolidation, maintaining capital expenditure, and boosting consumption through tax cuts.
It was also the shortest speech by Sitharaman, who had delivered the longest speech last year. Her first Budget speech in July 2019 went on for around 137 minutes and in 2020, it went on for more than 160 minutes and was cut short after she felt unwell.
BJP MP Nishikant Dubey has written to Lok Sabha Speaker Om Birla seeking initiation of breach of privilege proceedings against Congress leader Rahul Gandhi for making "blatant lies and vilification campaign" during his speech in the House. Dubey alleged that Gandhi used his parliamentary privilege to spread canards without authenticating his charges and distorted historical facts during his speech. Gandhi had claimed that mobile phones were not made in India but only assembled here, China has captured the Indian territory, and India had sent Foreign Minister S Jaishankar to the US to get an invite for Prime Minister Narendra Modi for US President Donald Trump's swearing-in ceremony. He also made allegations related to the electoral rolls for the Maharashtra Assembly polls and the law for the appointment of the elections commissioner. Dubey accused Gandhi of misusing the Constitution's Article 105, which accords privileges to parliamentarians for their comments made inside the Lok Sabha and the Rajya Sabha. He urged the Speaker to initiate proceedings against Gandhi, alleging that Parliament's records and proceedings are a testimony to his irresponsible attitude.
As per the Budget memorandum, the government has proposed amendment to Sub-Section 2 of Section 23 of Income Tax Act, which relates to determination of annual value of house properties.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
'The Bhashini Mission has delivered a working technology at large scale, which is as good as or better than the one with MNC tech giants.'
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
