Union Finance Minister Nirmala Sitharaman has urged an increased focus on '3Fs'-fuel, fertiliser, and forex-to maintain India's economic resilience amidst the West Asia crisis, while also criticising those who spread pessimism.
Union Finance Minister Nirmala Sitharaman has warned that the ongoing West Asia crisis is not merely a geopolitical issue but will directly lead to higher fuel costs for common people and businesses, impacting shipping, input availability, and export orders.
The FM also said the government has proposed a joint panel of Corporate Affairs Ministry and CBDT for incorporation of income computation and disclosure standards.
An Iranian delegation, led by Foreign Minister Abbas Araghchi, concluded high-level meetings in Islamabad, delivering an 'official list of demands' to Pakistani leaders for the US and Israel. This comes as President Trump cancelled his envoys' visit to Islamabad amid ongoing efforts to facilitate peace talks between Iran and the US.
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
Finance Minister Nirmala Sitharaman on Sunday announced an increase in the Securities Transaction Tax (STT) on Futures and Options trade with a view to discouraging small investors from speculative trading in derivatives, which led to a sharp decline in the stock market.
The funeral prayer for former Bangladesh Prime Minister Khaleda Zia will be held on Wednesday in Dhaka. Foreign dignitaries are expected to attend.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
Sitharaman continues with the tradition she set in 2019, carrying the budget speech in a 'bahi-khata', which she used after dropping the briefcase tradition.
Stock market is gearing up for an eventful week ahead where key triggers such as quarterly earnings from corporates, the US Fed interest rate decision and the upcoming Union Budget for 2026-27 would grab the limelight, analysts said.
Finance Minister Nirmala Sitharaman on Thursday said the government cannot restrain retailers from trading in Futures and Options (F&O) but will definitely create awareness regarding the risks involved in putting money in such instruments.
The Union Budget on Sunday proposed a tax holiday till 2047 for foreign companies that provide cloud services to customers globally using data centres located in India, signalling the government's push to make the country a major hub for AI and digital infrastructure.
The Union Budget on Sunday proposed a tax holiday till 2047 for foreign companies that provide cloud services to customers globally using data centres located in India, signalling the government's push to make the country a major hub for AI and digital infrastructure.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
IPL Auction 2026 was not just about money; it was a celebration of ambition, opportunity, and the unrelenting belief that the next big star could come from anywhere.
rediffGURU T S Khurana answers readers' personal income tax queries.
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.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
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.
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.
The meeting between Jaishankar and Zameer in the Ugandan capital city of Kampala came amid an unease in the Maldives' bilateral ties with India.
Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
India has reached out to Denmark and other non-permanent members of the UN Security Council to apprise them of the Pahalgam terror attack and its cross-border linkages. External Affairs Minister S Jaishankar has spoken to his counterparts from several nations, conveying India's resolve to bring the perpetrators to justice. The outreach comes as India mulls options for responding to the attack, with Prime Minister Modi assuring the harshest response for the "perpetrators and conspirators." India has also received condolences and condemnations from world leaders, including US President Donald Trump and French President Emmanuel Macron.
Doubling standard deduction to Rs 1 lakh, increasing tax break on interest paid on housing loan and rationalisation of capital gains tax regime are some of the expectations that consultancy firm KPMG has from the Budget 2024-25 to be unveiled on July 23 in Parliament. There has been a significant rise in medical expenses, fuel costs and overall inflation.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
The government on Wednesday said there won't be any capital gain tax if physical gold is converted to an electronic gold receipt and vice versa.
'Nearly 10 million people will benefit from the increase in the rebate limit for those earning up to Rs 12 lakh.' 'We expect all that money will come back into the economy in either savings, consumption, or investments.'
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The Union Budget 2025-26, while promising a new framework for smoother mergers and acquisitions (M&As), has plugged a major loophole on carry-forward losses for a total of eight assessment years between amalgamating company and amalgamated company from the date of loss instead of date of the merger. For all mergers effected on or after April 1, 2025, the losses can be carried forward only for the residuary period (counting from the date of loss).
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.
Finance Minister Nirmala Sitharaman on Tuesday said buyback of shares will be taxed in the hands of shareholders similar to dividend from October 1, a move that will increase the tax burden on investors. Further, the cost paid by the shareholder to acquire these shares will be considered for computation of capital gains or loss to them.
After more than four hours of talks in Saudi Arabia, the US and Russia agreed on four key principles, Rubio said on Tuesday. These include appointing a high-level team to help "negotiate and work through the end of the conflict in Ukraine" in a way that's "acceptable to all the parties engaged."
This deal will make Music Broadcast, which currently operates 39 channels, the largest private FM Channel operator.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
Recent documents by NITI Aayog and periodic labour force surveys on employment show that the importance of agriculture is rising in the Indian economy.
The head of Syria's main opposition group abroad Hadi al-Bahra Syrian said that Damascus is now "without Bashar al-Assad" according to Reuters.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
