Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
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.
With lower GST rates taking effect, fast-moving consumer goods players face challenges in setting reduced prices for their products in round figures, but expect the magical price points to be restored within two months.
'Our attempt to honour the taxpayer has been since 2014 and more actively since 2019-2020 onwards.'
Hero MotoCorp and TVS Motor crossed Rs 1,000 crore in R&D spend for the first time, as legacy OEMs accelerate innovation to compete with new-age EV players.
This is the second Budget of the BJP-led NDA government in its third term in office.
Indian government's decision to cut GST rates on various products will increase purchasing power of consumers and boost demand for residential properties in the upcoming festive season, according to realtors' body CREDAI. The association, which has a 13,000 members from across India, said the construction cost is expected to come down because of reduction in GST rates on cement and few other building materials.
From the 30-share blue-chip pack, ITC Hotels, IndusInd Bank, Mahindra & Mahindra, Sun Pharma, UltraTech Cement and NTPC were among the biggest gainers. Titan, Kotak Mahindra Bank, Nestle, Asian Paints, HCL Tech and ICICI Bank were among the laggards.
More Indians start car shopping online, pushing automakers and dealers to respond quickly, train staff, and use AI to turn clicks into showroom visits.
'India may never fully participate in the AI hype cycle, but we can position ourselves to benefit from its inevitable disenchantment and the cycle of disillusionment,' alerts Akash Prakash.
Finance Minister Nirmala Sitharaman presented her eighth budget on Saturday.
Finance Minister Nirmala Sitharaman will present her 8th straight Budget and all eyes will be on the much-expected tax relief for the middle class. Sitharaman had in her first Budget in 2019 replaced the leather briefcase -- which had been in use for decades for carrying Budget documents -- with a traditional 'bahi-khata' wrapped in red cloth.
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.
The government aims to initiate "transformative reforms" across six domains, including taxation and financial sector, in Union Budget 2025-26, Finance Minister Nirmala Sitharaman said on Saturday.
"If you thought that my husband's mission was powerful before, you have no idea. You have no idea what you just have unleashed across this entire country," she said.
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.
Finance Minister Nirmala Sitharaman on Saturday said the Union Budget 2025-26 continues efforts to accelerate growth and provide inclusive development.
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.
"Commonwealth Games in India would leave lasting impact by boosting tourism, and creating jobs, the Government said in a statement.
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.
If we wanted the Himalayas as a backdrop, we didn't shoot it on a green screen.' 'We actually went to the Himalayas and shot on location.'
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
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.
'The Budget must be pro-growth, focusing on infrastructure creation while also managing the fiscal deficit.'
'If the BJP had its way, it would sideline him in favour of someone else. But that's not feasible. There is no vote catcher in Bihar for the BJP.'
Billionaire Mukesh Ambani on Thursday termed the second-generation GST reforms as a big booster to consumption-driven growth while his firm promised to pass on the benefit of the cut in tax rates to consumers.
India's Parliament is set to begin its Budget session on Friday, with opposition parties poised to demand a discussion on the alleged mismanagement of the Maha Kumbh festival in Prayagraj, where 30 pilgrims died in a stampede. The opposition also accused the government of politicising parliamentary committees and pushing its agenda through its majority. The session will start with President Droupadi Murmu addressing both houses of Parliament. Finance Minister Nirmala Sitharaman will present the Union Budget on Saturday for the eighth consecutive time.
Finance Minister Nirmala Sitharaman on February 1 will present a record eighth consecutive budget that is expected to contain measures to shore up weakening economic growth and ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent.
Adarsh Kumar, a Class 12 student from a farmer's family in Bihar, has been shortlisted among the top 10 students in the world for the Chegg Global Student Prize 2025.
The Union Budget 2025-26 has allocated Rs 1,024.30 crore for expenses incurred by the Council of Ministers, the Cabinet Secretariat and the Prime Minister's Office, and for hospitality and entertainment of state guests. The allocated amount is a bit more than the Rs 1,021.83 crore earmarked in 2024-25.
'The incentives to switch to the new tax regime... are viewed as a negative due to potential loss of customers who buy policies for saving tax.' 'The tax-saving value proposition for the sector reduces.'
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
'I do believe there will be a resolution in the next couple of months on the penal tariff and hopefully on the reciprocal tariff also.'
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.
'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.'
'The first and most basic responsibility of any government is to protect its people from external threats and internal harm.' 'Budget 2025-2026 has to focus on meeting this responsibility,' asserts R Jagannathan.
Finance Minister Nirmala Sitharaman on Friday participated in a traditional 'halwa' ceremony, marking the final stage for the preparation of Union Budget 2025-26 to be unveiled on February 1 in the Lok Sabha. The ceremony is a customary 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.
'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses.
'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.'
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