'My life has been quite difficult. I felt I could see it in words. I thought if everyone else can write, then I can too.'
Bharatiya Janata Party on Thursday issued a three-line whip to all of its Lok Sabha MPs asking them to be present in the House for the passing of the Union Budget 2025-26.
Annapoorna chain of restaurants owner Srinivasan is seen purportedly highlighting concerns over varying GST rates. In the second video, Srinivasan was seen purportedly apologising in person to the Finance Minister.
The fiscal deficit for FY25 has been pegged at 4.8 per cent of GDP and at 4.4 per cent for FY26, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Budget 2025-26, she said net market borrowings are estimated at Rs 11.54 lakh crore for next fiscal year.
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.
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.
'Don't let anyone tell you that you can't do something just because it hasn't been done before. Take that first step. Keep learning. Believe in yourself even when no one else does.'
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.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
Punjab farmer leader Jagjit Singh Dallewal has ended his hunger strike which he began on November 26, 2022, to press for various demands of agitating farmers including a legal guarantee on the minimum support price (MSP) for crops. The announcement came after appeals from Union Agriculture Minister Shivraj Singh Chouhan and Union Minister of State for Railways Ravneet Singh Bittu. Dallewal said he would continue to fight for the MSP guarantee and other demands.
The interest rate on these schemes have remained unchanged for over a year now.
Chinese Foreign Minister Wang Yi has called on India to implement the consensus reached by Prime Ministers Narendra Modi and Xi Jinping at their summit in Russia, urging a restart of bilateral ties. Wang emphasized the importance of respecting each other's core interests, enhancing mutual trust, handling differences effectively, and bringing the relationship back on track. He suggested practical steps such as resuming flights, easing visa procedures, and planning commemorative activities for the 75th anniversary of diplomatic relations. Wang also highlighted the shared interests and opportunities for cooperation between the two countries, advocating for mutual development and strengthening coordination in international affairs.
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).
The time is ideal for a 'Dream Budget' akin to the 1991 reforms that sparked high growth and unlocked significant gains in productivity, points out Rajeswari Sengupta.
The meeting between Jaishankar and Zameer in the Ugandan capital city of Kampala came amid an unease in the Maldives' bilateral ties with India.
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."
'It took us 75 years to reach a per capita income of $2,730.' 'According to IMF projections, it will take only five years to add another $2,000.'
'The increase in the limit for TDS on interest to Rs 1 lakh will ensure greater cash flow in the hands of senior citizens.'
'We wouldn't have had to face all this had our national leaders taken care to select a place for Sindhis and sent us there, instead of sending us all over to settle in places where the locals didn't want us.' 'They could have partitioned Sindh and given us a Sindhi state from its two Hindu-majority districts.' 'Wasn't that the logic of Partition?'
rediffGURU T S Khurana answers readers' personal income tax queries.
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.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
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.
'Sudip sir keeps telling me that what I have done is very Hollywood.'
Recent documents by NITI Aayog and periodic labour force surveys on employment show that the importance of agriculture is rising in the Indian economy.
'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.'
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets.
These schemes will be based on enrolment in Employees' Provident Fund Organization (EPFO), Sitharaman said in the Lok Sabha.
'... there are challenges to overcome and the country needs money for that.'
The third edition of Fever FM's SuperWomaniya Awards 2024 was held at the ITC Grand Central hotel in Mumbai, and several stars made sure to walk the blue carpet.
'Patients under the scheme may ultimately have to go to private hospitals.'
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.
Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.
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.
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.
Breaking was dropped from the Olympic programme for the 2028 Games in Los Angeles. Gunn said she would not consider coming out of retirement if the dance-sport returned to the Games.
Chinese Foreign Minister Wang Yi has expressed readiness to join hands with India's National Security Advisor Ajit Doval to "properly handle" issues related to the situation on the ground in the border areas, amid the protracted border row in eastern Ladakh.
The Indian National Developmental Inclusive Alliance (INDIA) parties, led by the Congress, staged a walkout from both Houses of Parliament on Wednesday, in protest against all states except two being 'ignored' in the budget, an allegation termed 'outrageous' by Finance Minister Nirmala Sitharamanm, who said all the states never found a mention in any of the previous budgets, including those presented by the Congress.
Union Finance Minister Nirmala Sitharaman on Tuesday said the fiscal deficit for 2024-25 is estimated at 4.9 per cent of GDP.
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