Finance Minister Nirmala Sitharaman on Sunday proposed to reduce the tax collection at source (TCS) rate to 2 per cent for education and medical purposes under Liberalised Remittance Scheme (LRS) as well as on sale of overseas tour program package.
Prime Minister Narendra Modi will review the impact of the West Asia conflict on India's food, energy, and fuel security with senior cabinet ministers. The meeting follows previous discussions and concerns raised about global energy crises and supply chain disruptions.
Capex, infrastructure development, and prudent fiscal management are the key focus areas in the Budget, says Nilesh Shah.
India is a global leader in software development services, IT enabled services, knowledge process outsourcing services and contract R&D services relating to software development, Sitharaman said noting these business segments are quite inter-connected with each other.
Gold and silver prices plunged up to 9 per cent in futures trade on Sunday, hitting their lower circuit levels ahead of the Union Budget for 2026-27, as investors extended profit booking after the recent record-breaking rally.
Finance Minister Nirmala Sitharaman on Friday said the world is facing "profound imbalances" in trade and energy security, and is undergoing a structural transformation, with India standing out as a 'stabilising force' that can withstand external shocks.
'The entire party is centred around one man and that is Arvind Kejriwal.' 'Till the time you are in Kejriwal's good books you are powerful. The day you are not with him, you are no one in the party.'
Rising automobile exports are reflective of the increasing acceptance of India-manufactured vehicles across global markets, according to Economic Survey 2025-26.
As per established tradition, the finance minister met the President at the Rashtrapati Bhavan before heading to Parliament.
Prime Minister Narendra Modi will chair a meeting of the Cabinet Committee of Security (CCS) in Delhi to discuss the global situation following the attack on Iran and the killing of Iranian Supreme Leader Ayatollah Ali Khamenei.
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
India's urban areas are projected to contribute 70 per cent of gross domestic product in 2025-26, up from 45 per cent in the 1990s, according to a report by Dun & Bradstreet.
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.
Though the party has made no announcement, former chief minister Devendra Fadnavis, the deputy chief minister in the outgoing government, is being seen as the frontrunner for the key position.
Prime Minister Narendra Modi convened the Cabinet Committee on Security to address the impact of the West Asia conflict on Indian citizens, focusing on safeguarding them from the conflict's effects and ensuring the smooth flow of essential supplies.
The Union Budget 2025-26 had allocated Rs 2,33,210.68 crore (BE) to the ministry helmed by Union Home Minister Amit Shah.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
Shares of brokerage-related companies nosedived 18 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed raising securities transaction tax on commodity futures to 0.05 per cent from 0.02 per cent in the Union Budget 2026-27.
The Union Budget allocates Rs 1,492 crore for the functioning of both Houses of Parliament, with specific provisions for Lok Sabha, Rajya Sabha, and related secretariats.
Finance Minister Nirmala Sitharaman on Saturday said the Union Budget 2025-26 continues efforts to accelerate growth and provide inclusive development.
He added that opposition parties were assured that their concerns regarding the impact of the West Asia situation on India and the safety of Indian citizens were addressed in detail.
The market capitalisation of BSE-listed companies eroded by Rs 9,40,581.75 crore to Rs 4,50,61,658.60 crore (USD 4.90 trillion) in a single day.
The Cabinet Committee on Security (CCS) has reviewed the evolving situation in West Asia, directing departments to assist Indian nationals affected by recent developments and emphasizing the need for dialogue and diplomacy.
As many as 17 cancer drugs, along with medicines and food for special medical needs for seven rare diseases, components for microwave ovens are some of the items that are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2026-27.
The minister, however, said she was not in favour of relaxing rules for Apple to sell refurbished second-hand phones in India
On Saturday, February 1, 2025, Finance Minister Nirmala Sitharaman presented a record Budget in the 8th Lok Sabha.
After a 25 basis point rate cut in December, the RBI on Friday decided to pause on the policy rate front amid geopolitical uncertainties.
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 deferral of Natarajan Chandrasekaran's re-appointment as Chairman of Tata Sons has sparked questions regarding a previous unanimous resolution by Tata Trusts and potential internal disagreements.
Foreign Portfolio Investors (FPIs) remained in a selling mode in January, withdrawing nearly Rs 36,000 crore (about $3.97 billion) as global uncertainties persisted. Meanwhile, a higher securities transaction tax (STT) proposed in the Union Budget may weigh on overseas investor participation in the near future.
Union Minister for Law and Justice, Ravi Shankar Prasad, too, slammed Rahul Gandhi and said his remarks on the judiciary were irresponsible.
Nirmala Sitharaman has designed the revenue mix in such a way that while Centre's share in taxes would grow a massive 25 per cent, states' share would grow a dismal 6 per cent.
The Indian government addressed opposition concerns regarding the West Asia crisis in an all-party meeting, outlining its strategy for ensuring the security of the Indian diaspora, fulfilling energy needs, and maintaining diplomatic relations with key partners. The government also dismissed Pakistan's reported mediation efforts.
Opposition MPs in the Rajya Sabha criticised the Modi government's economic policies, citing the LPG crisis, lack of energy security, and concerns over the Economic Stabilisation Fund.
With the Union Budget 2026, India's 74th, fast approaching, all eyes are once again on New Delhi's North Block as Finance Minister Nirmala Sitharaman is preparing to table it on February 1, 2026, marking her ninth Budget presentation in a row.
So tell us, does Sitharaman's 7th consecutive Budget deserve cheers or boos?
The government has sharply reduced excise duty on petrol to 3 and diesel to zero, offering major relief to consumers. Here's how the price cut will impact fuel rates and inflation.
Finance Minister Nirmala Sitharaman on Tuesday said that raising the FDI limit to 100 per cent in the insurance sector will help attract more capital, improve competition and increase insurance penetration by making policies more affordable.
The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
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