The Central Bureau of Investigation has filed a case against Reliance Communications and its promoter-director Anil Ambani, for an alleged bank fraud that caused a loss of over Rs 2,000 crore to State Bank of India, officials said on Saturday. The agency is carrying out searches at the residence of Anil Ambani and premises linked to RCOM in connection with the case, they said.
The new government that presents the full Budget for 2024-2025 in July should be ready to restructure the way divestment is managed and implemented, proposes A K Bhattacharya.
Fitch Ratings on Monday affirmed India's sovereign rating at 'BBB-', with a stable outlook, saying a strong record of delivering growth and improving fiscal credibility will drive improvements in structural metrics. "India's ratings are supported by its robust growth and solid external finances," Fitch said, as it forecast GDP growth of 6.5 per cent in the fiscal year ending March 2026 (FY26), unchanged from FY25, and well above the 'BBB' median of 2.5 per cent.
'Marathwada is the suicide capital of Maharashtra.' 'To stop such man-made disasters, the government should immediately come up with a rightful package, not this charitable approach to compensation.'
Prime Minister Narendra Modi conveyed to Ukrainian President Volodymyr Zelenskyy that India remains committed to making every possible contribution for an early and peaceful solution to the conflict. Zelenskyy sought India's support in limiting Russian energy exports.
Amit Shah seemingly encouraging AIADMK dissident Sengottaiyan after party boss Edappadi K Palaniswami had removed his one-time mentor from all party posts has not gone down well with party cadres. They are now ready to buy Team EPS' theory that the BJP and Amit Shah are out to liquidate the AIADMK, points out N Sathiya Moorthy.
Vice President V V Giri's resignation in 1969 triggered political upheavals that saw the ruling party defy its own presidential nominee, the expulsion of a sitting prime minister by her party president, and a historic split in the Indian National Congress, recounts Utkarsh Mishra.
The Indian government briefed an all-party meeting on Thursday on the success of "Operation Sindoor", the retaliatory airstrikes against Pakistan following the Pahalgam terror attack. Top government functionaries and opposition leaders met for a second time in a fortnight amid rising tensions between India and Pakistan. The meeting was chaired by Union Home Minister Rajnath Singh and attended by several prominent leaders from various political parties. The government highlighted the strikes on nine terror targets in Pakistan and Pakistan-occupied Kashmir, including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base Muridke.
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.
MeitY is in discussions with global Fortune 500 and Fortune 1000 companies, mid-tier firms, and state government officials on a three-pronged approach to setting up new GCCs in India.
Maharashtra Deputy Chief Minister Ajit Pawar has criticized his cabinet colleague, Nitesh Rane, for making "misleading" statements about Muslims not being part of Chhatrapati Shivaji Maharaj's army. Pawar, who heads the Nationalist Congress Party, called for restraint from political leaders and stressed the importance of maintaining communal harmony in the state. He emphasized that Shivaji Maharaj never discriminated based on caste or creed and highlighted the contributions of Muslims during his reign.
'Experts and stakeholders have raised concern over the refund provision in the draft Bill. That was a drafting error, which will be rectified,' a government official said.
BJP leaders Manohar Lal Khattar, Shivraj Singh Chouhan, Bandi Sanjay Kumar and Ravneet Singh Bittu may be among the new faces in the Union council of ministers which will be sworn on Sunday evening along with Prime Minister-designate Narendra Modi.
An overview of the past vice presidential elections in India, highlighting uncontested wins, multi-cornered fights, and notable candidates.
Markets regulator Sebi is actively working with the Ministry of Finance and other financial regulators on setting up a centralised KYC (Know Your Customer) system, chairman Tuhin Kanta Pandey has said. The Central KYC is an online database that maintains KYC records of customers in a centralised manner, aiming to streamline compliance across financial institutions.
The stadium will be part of a wider regeneration of the Old Trafford area, with British finance minister Rachel Reeves recently giving government backing for the plans.
He will succeed incumbent Rajiv Gauba, who completes his unprecedented five-year term in the top bureaucratic post this month-end.
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.
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.
Among Sensex firms, Bajaj Finserv, ICICI Bank, Reliance Industries, Bajaj Finance, Larsen & Toubro and Bharat Electronics were the major gainers. However, Power Grid, Eternal, Hindustan Unilever and Adani Ports were among the laggards.
Prime Minister Narendra Modi inaugurated the Pamban sea bridge, providing rail link between Rameswaram island and the mainland and flagged off the new Rameswaram-Tambaram (Chennai) train service. The bridge is India's first vertical sea-lift bridge, spanning 2.08 kilometers, and includes a 72.5-meter-long vertical lift span that can be raised up to 17 meters, allowing the smooth passage of large ships while ensuring seamless train operations. Built at a cost of over Rs 550 crore, the bridge features stainless steel reinforcement, high-grade paint, and fully welded joints, enhancing durability while reducing maintenance requirements. The bridge is a remarkable blend of tradition and technology.
With this, Prime Minister Narendra Modi has also sent a strong message to ally, Janata Dal-United President and Chief Minister Nitish Kumar, that their partnership remains intact and that they will be formidable partners at the hustings.
'The finance minister has done as much as she can when you look into the fiscal constraints she had.'
The ruling BJP in Madhya Pradesh will hold a three-day training camp for its leaders from June 14 in Pachmarhi in Narmadapuram. The move comes amid the party facing flak for some statements from its leaders post Operation Sindoor. BJP president JP Nadda and Union Home Minister Amit Shah have been invited to the camp to lecture the party cadre. The BJP said the event was pre-planned and was a routine affair, but the camp is seen as an attempt to discipline party leaders who have been making controversial statements.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Andhra Pradesh Chief Minister Chandrababu Naidu showered gifts on Finance Minister Nirmala Sitharaman when he met her in New Delhi on Wednesday, March 5, 2025.
India has said it will take all steps to protect its national interests and ensure comprehensive national security in all domains after Pakistan and Saudi Arabia signed a strategic defence pact.
India will place restrictions on foreign direct investment (FDI) in the national interest to ensure safeguards because of its location in a highly sensitive neighbourhood, Finance Minister Nirmala Sitharaman said during an interactive session at the Wharton Business School in the US on Tuesday. "I cannot blindly accept FDI simply because we need investment, unmindful of where it is coming from. "We want business, we want investment, but we also need some safeguards, because India is located in a neighbourhood that is very, very sensitive," Sitharaman said.
India's Minister of State for Home, Nityanand Rai, has announced a 71% decrease in terrorist incidents in the country under the Modi government. He credits a "zero tolerance" policy towards terrorism, which has resulted in no terror incidents in the hinterland. Rai also highlighted the National Investigative Agency's (NIA) successes, including the investigation of cases on foreign land and a conviction rate of 95.54%.
Sullivan remarks come amid the rising friction between Washington and New Delhi due to the 50 percent tariffs imposed on Indian goods, which include a 25 percent penalty for buying Russian oil.
Individuals earning up to Rs 12 lakh annually will not have to pay any income tax under the new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class by raising exemption limit and rejigging slabs. For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs 75,000.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
Parliament has approved a resolution to extend President's Rule in Manipur for another six months, amidst opposition protests regarding electoral roll revisions in Bihar. The extension comes after the imposition of President's Rule in February due to ongoing ethnic conflict.
The allocated amount is substantially lower than the Rs 1,803.01 crore earmarked in 2023-24.
Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year. He said that "a little bit" of geopolitical issues overtook the trade matters in the negotiations for the pact between the two countries.
'Geopolitically and diplomatically it's a very difficult situation for India.'
Notably, US President Donald Trump and his administration have continuously targeted India over its purchase of Russian crude oil. India, on the other hand, has always maintained that India's purchases are based on its domestic needs and economic security.
The Trump administration has told the US Supreme Court that it imposed tariffs against India for purchasing Russian energy products as part of its strategy to address the war in Ukraine.
'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.
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.
