India will restrict crude oil purchases from Russia as part of an agreement reached with the US in exchange for lower trade tariffs, sources said, adding imports will continue for now by refiners such as Nayara Energy, which have no other alternative source. US President Donald Trump announced overnight that the United States will cut the reciprocal tariff on imports of Indian goods to 18 per cent from 25 per cent under a broader bilateral understanding.
A deepening payment paralysis in Telangana's liquor industry is beginning to choke manufacturing units and strain supplies, employment, and the broader investment landscape, industry bodies have warned, as unpaid dues accumulate to levels they describe as "unprecedented" and "severe".
Finance Minister Nirmala Sitharaman on Tuesday participated in a traditional 'halwa' ceremony, marking the final stage for the preparation of the Union Budget 2026-27, to be unveiled on February 1 in the Lok Sabha.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Water conservationist Rajendra Singh blames corruption and faulty infrastructure for the contaminated water crisis in Indore, which led to multiple deaths. He criticizes the city's reliance on the Narmada River and the lack of responsible water management.
For MSMEs the transition could mean higher wage bills and tougher compliance -- unless strong handholding follows reports Auhona Mukherjee.
Officials said the government is keen to conform to the convention of the Union Budget for 2026-2027 being presented on February 1 despite it falling on a Sunday in 2026.
Compliance window for those with undisclosed income abroad to come clean by paying 30 per cent tax and 30 per cent penalty
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
States are apprehensive of losing their rights to raise revenue during emergencies.
From the 30-Sensex firms, Larsen & Toubro, Tech Mahindra, Tata Consultancy Services, Reliance Industries, Tata Steel, and Trent were among the biggest laggards. On the other hand, Eternal, ICICI Bank, Bajaj Finance, and Bharat Electronics were the gainers.
The new Income Tax Bill, passed by Lok Sabha on Monday, has retained the provisions regarding ITR filing for TDS claims and tax exemptions for anonymous donations made to all religious-cum-charitable trusts, as in the existing tax laws. The original Income Tax Bill, which was brought in Parliament in February, had done away with this exemption and the ITR filing flexibility for claiming TDS refunds.
The power sector presents a puzzle. A fast-growing economy should be aligned to higher power demand but that hasn't been the case in the financial year 2026 till date (FY26TD).
As the government moves to revamp India's securities legislation, unifying three different laws into the Securities Markets Code (SMC), regulatory experts and market insiders have raised concerns on potential funding challenges for the stock market regulator.
The committed expenditure recorded a 9.37 per cent increase, reaching Rs 15.64 trillion.
Finance Minister Nirmala Sitharaman on Monday introduced two bills in the Lok Sabha to levy excise duty on tobacco and tobacco products, and a new cess on manufacturing of pan masala, which will replace the GST compensation cess on such sin goods.
Gaurav Batra, founder and CEO Infinite Group, suggests smart tips to help you reduce living and transportation costs while studying in the US.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
Finance Minister Nirmala Sitharaman on Monday introduced the Taxation Laws (Amendment) Bill, 2025, which aims to provide tax exemptions to subscribers of the Unified Pension Scheme.
'The government, if it deems fit, will incorporate the changes in the Bill, take approval from the Cabinet before moving the bill for consideration and passage in the Lok Sabha.'
Experts said that earmarking of funds for public health at par with national security indicates a key policy shift.
To digitise Customs processes, the Union finance ministry is planning to integrate the Indian Customs Electronic Gateway (ICEGATE), Risk Management System (RMS), and Indian Customs Electronic Data Interchange System (ICES) into a single unified national Customs platform, according to government sources.
India could save $1 billion in crude oil imports annually if the country switches 10 per cent of its diesel usage in the transport sector to liquefied natural gas.
Black money Bill: Govt may widen disclosure window to 3-6 months.
Companies were consulting law firms and consultants to understand the Bill.
The Congress will launch a nationwide campaign against the repeal of the United Progressive Alliance-era rural employment legislation Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) on January 5, similar to the pushback against the three farm laws which eventually forced the Narendra Modi government to rollback its decision, party president Mallikarjun Kharge said.
Various stakeholders told the committee that there is a need for expanding judicial capacity or restructuring the adjudicatory process by increasing the number of benches and also enhancing financial allocation for improvement of infrastructure.
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
Ministers arrested post-2014 who, if the 130 Constitutional Amendment had been in effect, would have been unseated from office.
He said the Aadhaar programme violated informational privacy, self-determination and data protection.
'In the long run, India's strong growth story and reforms to make assets globally attractive will determine the rupee's resilience.'
InterGlobe Aviation, the operator of IndiGo, has approached the Delhi high court seeking a refund of over Rs 900 crore it claims to have paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs. The petition came up for hearing on Friday before a bench of Justices Prathiba M Singh and Shail Jain.
Paytm (One 97 Communications Ltd), India's full-stack merchant payments leader serving MSMEs and enterprises, has launched a fully redesigned version of its flagship app, integrating artificial intelligence-driven features to streamline and personalise everyday transactions for its users.
Bhutia and Chaubey have shared a history of verbal spats, with the former frequently questioning Chaubey's leadership, even calling the AIFF a "circus"
rediffGURU T S Khurana answers readers' personal income tax queries
With winter holidays approaching, some Indian travellers will venture abroad. Many will be underprepared for medical and other travel-related risks. Trip disruptions, missed connections, and steep medical costs in developed countries can leave travellers exposed if they underestimate the coverage they need.
The International Monetary Fund, in its report on the Indian economy, said the Insolvency and Bankruptcy Code (IBC) Amendment Bill addresses many deficiencies but it has not provided for the participation of operational creditors or rules for executory contracts. The IMF staff report said that the business dynamism in India remains relatively low, marked by low rates of entry and exit, and a high share of inactive or inefficient firms reflecting structural rigidities and high compliance levels.
Hit by a slowdown in information technology (IT) hiring, Info Edge (India)'s results for the July-September quarter (Q2) of 2025-26 (FY26) fell short of brokerage expectations. What helped the online recruitment major offset the weak IT hiring trend was broad-based growth across other sectors.
On the 40th day of the most extended government shutdown in US history, senators returned from recess Sunday for a rare weekend session, preparing to vote on whether to advance a House-passed spending bill aimed at reopening the government.
Aadhaar is a creation of the previous Congress-led government.
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