Hospitality players want the government to accord infrastructure status to hotels to make investments on new properties more attractive rather than categorising them as luxury or even 'sin goods' in the upcoming Union Budget considering the sector's potential to play a key role in India's growth. They also want the government to consider incentives in the form of tax breaks or subsidies for adopting sustainable and eco-friendly practices, while asserting that the upcoming budget must accelerate the tourism agenda saying it is an opportunity to make Indian hospitality the emerging engine for GDP growth and employment generation.
Only experienced investors with a high risk appetite, a grasp of market cycles, and comfort with volatility and timing risk should invest.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
'It's clear that fans are eager to be part of the live stadium experience, reflecting a growing trend of travel driven by marquee sporting events.'
Hero MotoCorp is expecting its electric vehicle (EV) business to break even once it reaches monthly sales volumes of 25,000 to 30,000 units, which is a couple of years away, Chief Financial Officer (CFO) Vivek Anand said on Tuesday. "This year, in 2024-25 (FY25), if I really look at my EV performance, our volumes have grown by 200 per cent," Anand told analysts during the company's post-results conference call.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
Association for Democratic33 per cent of 4,092 sitting MLAs were non-graduates.
There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies. Outlining the sector's wish list for the upcoming Union Budget, Organisation of Pharmaceutical Producers of India (OPPI) Director General Anil Matai urged the government to explore methods to incentivise R&D investments, such as deductions on R&D expenses, research-linked incentives for MNCs, and corporate tax concessions.
'In the Indian government there are no illusions about the United States reliability or the possibility of having any kind of preferential treatment from Washington when it comes to trade.'
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.
Alloting more funds for MNREGA and PM-KISAN could wipe out the entire additional money that the Centre may have for FY25.
Recognising job creation for the youth as the foremost challenge for the economy, Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive Prime Minister's package to facilitate the employment and skilling of 41 million youth with a central outlay of Rs 2 trillion over the next five-year period. The package will consist of five schemes and initiatives - three focused on jobs and two on skilling.
'The government has to explain (to the army, air force and navy chiefs) whether they want a punitive strike, a deep punitive strike, or whether they want limited war or an all-out war, will it be a circumscribed war or will it be a shallow attack along the border.'
The TMC-led West Bengal government has already started laying the groundwork for the election, setting the tone with the recent Bengal Global Business Summit and the state Budget.
The defence budget was on Thursday increased to Rs 6.21 lakh crore for 2024-25 in a modest hike of 4.72 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh as well as concerns over evolving security situation in the strategic waterways.
Prime Minister Narendra Modi on Wednesday urged all stakeholders to come together and invest in people for skill development, nurturing talent and promoting innovation which are essential for job creation and boosting the economy. Participating in post-Budget webinar on employment, Modi said the government has provided skill training to 3 crore youth since 2014 and decided to upgrade 1,000 ITIs and set up five centres of excellence.
Thrust on infrastructure and capital expenditure is expected to continue in the Union Budget for FY25.
US Vice President JD Vance called on India to drop non-tariff barriers, give greater access to its markets and buy more American energy products and military hardware. Vance, in a speech in Jaipur, highlighted the need for a stronger US-India partnership for a prosperous and peaceful 21st century. He emphasized the importance of working together to address global challenges and praised Prime Minister Narendra Modi, describing him as a "special person." Vance also urged India to provide greater market access to American products and buy more defense platforms and energy from the US. He suggested that India consider dropping some of the non-tariff barriers for American access to the Indian market and highlighted the benefits of closer India-US defense collaboration, advocating for New Delhi to procure more military hardware from the US. He cited the example of American fifth-generation F-35s, arguing they would give the Indian Air Force the ability to defend its airspace and protect its people like never before. Vance also welcomed the Modi government's budget announcement to amend India's civil nuclear liability laws, paving the way for US producers to export small modular reactors and build larger US-designed reactors in India. He emphasized the importance of energy security for India's AI ambitions, stating "there is no AI future without energy security and energy dominance." Vance's visit comes amid growing global concerns over the US's tariff war.
Finance Minister Nirmala Sitharaman is likely to hold pre-budget consultations with industry chambers on June 20, sources said. The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of July. Industry sources said the pre-budget consultation with Sitharaman would be preceded by a meeting with Revenue Secretary Sanjay Malhotra on June 18.
Starlink's application for offering satcom services in India had been held up for the company's inability to comply with mandatory ownership disclosure norms.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The Budget has given signals that India is sensitive to the US needs and willing to walk the extra mile, but if need be, we should respond in equal measure as a sovereign nation, notes Ajay Srivastava.
With 90% of the inventories sold out, JioStar expects to ring in more than a 58% increase over last year's IPL, when it clocked Rs 3,900 crore.
Inputs from religious texts, scriptures of local dialects and inspirational word-of-mouth stories will also be included.
In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
Geopolitical tensions, trade policy uncertainties, volatility in international commodity prices and financial market uncertainties pose considerable risks to India's economic growth in the coming year, the finance ministry cautioned on Wednesday. "Global trade continues to be affected by uncertainty in the policy environment... tariff-related developments in multiple countries have heightened trade-related risks, affecting investment and trade flows globally.
'In a world which is full of categories, hatred and ideologies, there was this basic decency.'
The Congress party has accused the BJP of engaging in "damage control" after the party distanced itself from comments made by two of its MPs, Nishikant Dubey and Dinesh Sharma, criticizing the Supreme Court. Congress general secretary Jairam Ramesh stated that the BJP's clarification was merely an attempt to mitigate the damage caused by the MPs' remarks and that the party's actions were hypocritical, given the silence of the BJP president on similar comments made by other party members.
'And this will persist given the two-and-a-half-front threat we face.'
The beautiful hill station of Shillong, known for its natural beauty and rich culture, has been named the most popular travel spot in India for 2025.
'Market corrections are a natural part of investing, so it's essential to remain focused on long-term financial goals.'
T Nanda Kumar, former food and agriculture secretary, shared his memories of working with former prime minister Manmohan Singh during some of India's most challenging times, highlighting Singh's compassionate leadership and commitment to ensuring food security for all Indians. Kumar recalled Singh's steadfast support during the 2008 global food crisis, where he championed a ban on non-basmati rice exports to secure domestic supplies. Singh's leadership, characterized by intellect and humility, left a lasting impression on Kumar, who considered him a mentor and guiding light.
The varieties will take at least 4 to 5 years to reach farmers after they complete the usual cycle of breeder, foundation and certified seeds.
'The bull market cycle ran for five years. It's the end of that cycle.' 'The next cycle is a down cycle, and in that down cycle, you will see the Sensex falling from their highs of around 68,000 to maybe 40,000-50,000 at the bottom of the cycle.'
Questioning the Congress's stand on caste census, the BJP leader made certain remarks on Gandhi's caste that triggered the uproar and had Congress members trooping into the well of the Lok Sabha. "Anurag Thakur insulted me and I don't want any apology from him. Abuse or insult me as hard as you can but don't forget we will pass the caste census in this Parliament for sure," the Leader of the Opposition said.
In all, seven countries have expressed interest in hosting future Commonwealth Games with five of those focused on staging the centenary edition.
In a continued push to spiritual tourism, there will be a focus on destinations related to the life and times of Lord Buddha.
Union Finance Minister Nirmala Sitharaman is often known for making statements with her sarees on Budget Day. Each year, she wears a saree that represents India's rich textile heritage and traditional craftsmanship, and this year was no different. This year, Sitharaman chose to wear a beautiful off white saree with intricate golden work, paired with a red blouse and a shawl while carrying her trademark 'bahi-khata', a tablet wrapped in a red-coloured cloth with a golden-coloured national emblem embossed on it.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
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