This marks a 67% increase from the Rs 2,537 crore lost in scams in 2022-2023.
The Delhi High Court has asked the central government why it cannot reduce the GST on air purifiers, considering the poor air quality in Delhi. The court's concern is that the current 18% GST makes air purifiers unaffordable for the common man.
Delhi Finance Minister Kailash Gahlot on Tuesday said the budget file has been resent to the home ministry for approval, amid a row between the Aam Aadmi Party dispensation and the Centre over the issue.
A special court has released Shafat Ahmed Shangloo, arrested by the CBI in connection with the 1989 kidnapping of Rubaiyya Sayeed. The court denied the CBI's request for custody, noting his absence in the charge sheet.
'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
India's exports jumped by 19.37 per cent to $38.13 billion in November, while imports dipped by 1.88 per cent to $62.66 billion, according to government data released on Monday.
The Congress party in India has accused the government of "impropriety" in the sudden termination of KV Subramanian's position as India's executive director at the IMF, alleging it was linked to the Union Bank of India's purchase of two lakh copies of his book. The party also questioned the government's stance on Pakistan's request for a loan from the IMF.
'At COP30, the emphasis will be on unlocking climate finance, reinforcing the principle of common but differentiated responsibilities, and building resilience through inclusive transitions and the mainstreaming of adaptation.'
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
Fitch Ratings on Wednesday raised India's GDP growth forecast to 6.9 per cent for current fiscal year, from 6.5 per cent earlier, citing strong June quarter growth and domestic consumption-led demand.
The Indian steel industry is faced with a paradox: Rising demand and falling prices. Demand continues to surge as user industries gather pace, with the World Steel Association projecting around 9 per cent annual growth for India over 2025 and 2026, the year domestic demand is projected to be almost 75 million tonnes (mt) higher than in 2020.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday.
The Bill is likely to pave the way for amending two existing legislations -- the Atomic Energy Act 1962, and the Civil Liability for Nuclear Damage Act 2010.
Students at Tezpur University in Assam have shut down the institution, protesting against Vice Chancellor Shambhu Nath Singh over allegations of corruption and financial irregularities. The shutdown has led to the cancellation of end-term examinations and has garnered support from teachers and non-teaching staff.
The Union Budget 2025-26 has allocated over Rs 1,400 crore to the law ministry to meet carry forward expenditure for holding the 2024 Lok Sabha elections and purchase of new electronic voting machines for the Election Commission. The allocation includes Rs 500 crore for the elections, Rs 300 crore for voter identity cards, Rs 597.80 crore for "other election expenses", and Rs 18.72 crore for new EVMs. The law ministry is the nodal agency for the Election Commission, polls, electoral laws, and appointment of members to the poll panel.
'The real story of 2025 is that India officially stopped being a 'market of the future' and started acting as the world's primary economic engine.'
They weren't up for a windfall even after the trophy but life was certain to get a lot better as some sponsors and state governments stepped up to lift them financially.
'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.
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.
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
'I am doing the drive in making sure that people pass this on. So the drive is not with distrust. The drive is just in case.' 'Just in case it doesn't get passed on, I am here.'
Major foreign mining and refining companies have assured the Indian government that they will have sufficient stocks of rare-earth oxides to supply to the winning bidders under the country's production-linked incentive (PLI) scheme for indigenous manufacturing of rare-earth permanent magnets (REPMs), Business Standard has learnt.
'If at all human beings require a religion, the future religion will be Hinduism.'
Senior finance ministry official Navjot Singh, killed in a BMW crash, was cremated. The driver's alcohol test was negative, and an investigation is underway.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
India's new climate pledge to the UN could be weakened by its growing use of coal, even as the country plans a 2035 roadmap to cut emissions and boost clean energy.
The Russians have termed Putin's visit to India, his first to this country since the outbreak of the Russia-Ukraine war, as 'Druzhba Dosti', which means 'friendship' in Russian and Hindi respectively.
Study abroad experts explain how Canada, Australia, Germany, France and Dubai are redefining global education.
From appointment letters becoming mandatory to gig workers receiving social security to enhanced rights for women and contract labour, the changes reflect India's attempt to balance ease of doing business with stronger worker welfare.
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
In Delhi, 8.91 per cent of road accidents in 2023 were caused by overspeeding, while in Bengaluru the share was just over 5 per cent.
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.
The Sixteenth Finance Commission Chairman, Arvind Panagariya, has highlighted the challenges faced by southern states due to falling fertility rates and the subsequent increase in dependency ratios and ageing populations. He noted that Andhra Pradesh, Assam, and Tamil Nadu have raised concerns about these demographic trends. The Commission is currently touring the states to gather feedback and is expected to submit its recommendations after completing nationwide consultations.
'He is a man of action and goes to the ground and solves the problem.' 'Be it the Air India crash of Ahmedabad, Morbi bridge collapse, Deesa blast or Gambhira bridge collapse, he is on the spot.'
India and the UK have announced a series of defence cooperation initiatives, including a USD 468 million deal for the supply of lightweight multirole missile systems to enhance India's air defence capabilities.
The government is developing ports across the country as centres for green hydrogen production and export, Sarbananda Sonowal, minister of ports, shipping and waterways (MoPSW) said on Tuesday. "Across the country, over 12 million tonnes of green hydrogen-based e-fuel capacity has been announced.
'There is no retrospective changing of the law, only its simplification.'
