The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
The hospitality and travel industry players expressed disappointment after the General Budget 2009-10 announcements, with the sector not even finding a mention in the finance minister's speech.
Moody's Ratings on Tuesday projected general government debt to stabilise above 80 per cent of GDP over the next three years, down from 89.3 per cent in 2020-21. "General government interest payments to fall to around 24 per cent of general government revenue over the next two years from over 28 per cent in fiscal 2020-21, although this remains much higher than the median 8.7 per cent recorded by Baa-rated peers," Moody's Ratings associate managing director Gene Fang said in a post-Budget reaction.
'We had tremendous faith in honorable Modiji in his second term as he was well-settled. Sadly that has been belied.'
Passenger vehicle dispatches from companies to dealerships witnessed an increase of 1.6 pc year-on-year in January at 399,386 units driven by robust demand for utility vehicles, industry body SIAM said on Thursday. It was the highest-ever passenger vehicle dispatch for the month of January.
'Understand your financial goals. Next, categorise them by size. Then evaluate your investment options.'
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
Infighting within West Bengal's ruling Trinamool Congress (TMC) came to the fore after a video of an alleged verbal spat between party MPs and screenshots of heated exchanges from its official WhatsApp group for parliamentarians went viral. The incident reportedly involved a public altercation at the Election Commission headquarters, followed by a heated exchange on the party's WhatsApp group, leading to accusations of misconduct and leaked screenshots. The controversy has triggered calls for action against the party chief whip, Kalyan Banerjee, who is accused of misbehavior and tarnishing the party's image.
Within India, people are selecting destinations via routes such as Lakshadweep, Alappuzha, the Sundarbans, Goa and Kochi for pre-wedding parties.
The Centre's fiscal deficit touched 74.5 per cent of the annual target at the end of January 2025, according to the data released by Controller General of Accounts (CGA) on Friday.
Congress legislators continued their sit-in protest inside the assembly while the party held protests at all district headquarters on Saturday against the suspension of six party MLAs.
According to the officials, generally, a passenger is not served more than 100 ml of liquor during a flight.
'When one air force (India's) hits the other's airbases with impunity and that air force (Pakistan's) is not able to respond, then the air force, which has put the other's airbases out of commission, has won.'
Finance Minister Nirmala Sitharaman on Wednesday again took a digital tablet wrapped in a traditional 'bahi-khata' style pouch as she headed for Parliament to present Union Budget 2023-24 in a paperless format just like the previous two years. She posed for the traditional 'briefcase' picture outside her office along with her team of officials before heading to meet the President. She, however, was holding a tablet instead of a briefcase to present the Budget in a digital format.
The Budget process is a massive exercise. The exercise has different stages and each stage kicks off at a different stage of Budget making process.
Post-election capital expenditure (capex) has been weak at 2 per cent year-on-year (Y-o-Y) in M9FY25. The FY25 revised estimates (RE) indicate 7 per cent growth in FY25 against FY24, implying 21 per cent Y-o-Y growth in Q4FY25 government capex.
India on Saturday announced plans to amend its nuclear liability law and set up a nuclear energy mission, a move that came ahead of Prime Minister Narendra Modi's likely visit to the United States.
"Of the structural reforms, the GST has been the most historic in our country. Its chief architect is not with us today. I pay homage to the visionary leader late Arun Jaitely. GST has been gradually maturing into a tax that has integrated the country economically," she said during her budget speech.
The Finance Ministry's annual report has revealed that the US Agency for International Development (USAID) funded seven projects worth USD 750 million in India during the 2023-24 fiscal year. The projects, implemented in partnership with the Indian government, cover areas like agriculture and food security, water and sanitation, renewable energy, disaster management, health, sustainable forests, and climate adaptation. This disclosure comes amidst controversy over USAID's alleged role in influencing Indian elections, with claims that the agency allocated USD 21 million to India for 'voter turnout'. However, the report clarifies that no funds were dedicated to enhancing voter turnout.
The GDP growth is expected to be about 6.3 per cent in the current fiscal year, a tad lower than the government's estimate of 6.4 per cent, owing to several factors such as weak demand, SBI research report said on Wednesday. According to the first advance estimates (FAE) of National Income for 2024-25 released by the National Statistics Office (NSO), released on Tuesday, India's economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, because of poor showing by the manufacturing and subdued investments.
The Indian government has appointed Finance Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). Pandey, a 1987-batch IAS officer, will replace Madhabi Puri Buch, whose three-year tenure ends on February 28. Pandey's appointment comes at a time when the markets are experiencing bear pressure due to withdrawals by foreign institutional investors (FIIs). Pandey has extensive experience in the finance ministry, having served as the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE). He also played a key role in the framing of the 2025-26 Budget and the drafting of the new Income Tax Bill. Pandey's appointment is for an initial period of three years.
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
Invest in these funds through the SIP route with at least a seven-year horizon.
Parliament will now meet on March 8 for the second part of the Budget session.
ELSS investments require a long-term commitment of at least seven years.
Whether it's navigating the labyrinthine Cu Chi Tunnels, boating on the Mekong, marveling at ancient Champa temples, or the Mekong Bay, Vietnam promises a journey like no other.
This is the first Budget in Amrit Kaal, she said.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Thackeray also drew a comparison between the current regime and Hitler.
After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
Describing the general Budget as a 'sanjeevani' (new life) to the "moribund economy", Prime Minister Narendra Modi on Thursday said it converts hopes and aspirations of the people into trust and is in line with his government's endeavour to bring India out of crisis.
Opposition parties in the Indian Parliament walked out of the Rajya Sabha after their demand for an immediate discussion on the alleged mismanagement at the Maha Kumbh, where a stampede led to several deaths, was rejected. The Chairman of the Rajya Sabha, Jagdeep Dhankhar, declined to suspend the scheduled business of the day to take up the issue, citing his previous rulings regarding notices under Rule 267.
Other ministers who have presented five straight annual financial statements include Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.
It is the anti-rape law that poses the biggest challenge.
'Pakistan cannot sustain a war with India for more than four days. They are in such dire straits. At best they can sustain war for one week.'
The finance minister has stayed true to her commitment to fiscal consolidation, even though the pace of the decline in the deficit could have been faster, notes A K Bhattacharya.
The government and the Opposition on Tuesday agreed on the passage of this year's General Budget and the Finance Bill without any discussion in Parliament in view of the impasse over National Democratic Aliiance's demand for removal of 'tainted' mini
CPI (M) leader Brinda Karat felt the government's Budget did very little for the common man and only catered to certain sections of the country.
Auto makers Tata Motors and General Motors India on Monday announced they will cut prices of their products after Finance Minister P Chidambaram decided to reduce excise on automobiles in the interim Budget 2014-15.
What does this mean for you? Ramalingam Kalirajan explains.
