From a milk abhishek and aarti in Patna and Vadnagar to blood donation camps in Delhi, sand art tributes in Puri and Agartala, and havan pujas in Jammu, BJP leaders and others nationwide honoured the occasion of Prime Minister Narendra Modi's 76th birthday with prayers, service drives and tributes.
The Congress party has criticised the government's recent notification regarding UPI transactions, alleging it paves the way for users to be charged fees, particularly for transactions above Rs 2,000. The party claims the government lacks transparency and questions if the move is to benefit American firms. The government, however, states that charges are necessary for the system's sustainability and infrastructure upgrades, with the Finance Minister clarifying that Merchant Discount Rate (MDR) applies to merchants, not customers.
Congress leader Rahul Gandhi has accused the Modi government of quietly paving the way for imposing fees on UPI transactions, alleging it's a surrender to American pressure. The government's recent notification exempts charges only up to Rs 2,000, sparking concerns that higher value transactions and eventually all UPI payments could incur fees. Finance Minister Nirmala Sitharaman, however, clarified that Merchant Discount Rate (MDR) applies to merchants, not customers, and supports digital infrastructure.
Finance Minister Nirmala Sitharaman clarified that the Merchant Discount Rate (MDR) on digital transactions applies to merchants, not customers, and aims to support banks and fintech in infrastructure investment. She countered Congress leader Jairam Ramesh's claims, stating that a committee will decide on MDR only after Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026, a process currently stalled by parliamentary disruptions.
Finance Minister Nirmala Sitharaman is in London for the 13th India-UK Economic and Financial Dialogue with her counterpart, Chancellor of the Exchequer Rachel Reeves.
Union Finance Minister Nirmala Sitharaman on Thursday lashed out at TMC MP Saugata Roy for objecting to her speaking in Hindi on a bill, pointing out that the translation technology allows members to listen to speeches in any language.
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.
Andhra Pradesh Chief Minister Chandrababu Naidu showered gifts on Finance Minister Nirmala Sitharaman when he met her in New Delhi on Wednesday, March 5, 2025.
'If the BJP detoxifies the nuclear liability law, it will bring economic, environmental and, most of all, strategic benefits.' 'Let's keep our fingers crossed and hope that this Budget promise is met soon -- ideally, before Mr Modi heads to his first meeting with Trump 2.0,' observes Shekhar Gupta.
On Saturday, February 1, 2025, Finance Minister Nirmala Sitharaman presented a record Budget in the 8th Lok Sabha.
The Budget should undertake further reductions in import tariffs and seriously consider an announcement of India's intention to join one or both of the two Asian mega-regional free trade agreements, suggests Shankar Acharya, former chief economic adviser to the Government of India.
Harivansh has been re-elected as the Deputy Chairman of Rajya Sabha unopposed, marking his third term in the position.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
The Budget assumes significance as it comes on the back of lower-than-expected growth numbers during the second quarter and geopolitical uncertainty.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
The Budget session of Parliament will be held from January 28 to April 2, featuring the President's address, the Economic Survey, and the presentation of the general Budget.
Celebs and commoners cast their votes in the second phase of the Lok Sabha election on Friday, April 26, 2024
'The Budget needs to focus more on social welfare schemes.'
'The conspiracy is to end India's entrepreneurship culture even before it fully blooms.' 'Negativity is being spread in society towards all those who do business, and this hatred for business and wealth creators is spilling everywhere.'
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
'We have to retain some fiscal headroom without compromising on the promised fiscal consolidation roadmap.'
'... there are challenges to overcome and the country needs money for that.'
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
'Any finality in such matters requires political views. We will review it closer to the full Budget.'
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
The time is ideal for a 'Dream Budget' akin to the 1991 reforms that sparked high growth and unlocked significant gains in productivity, points out Rajeswari Sengupta.
'The nominal GDP growth assumption for FY25 may be revised upwards on higher growth expectations.'
If the fiscal deficit target of 4.9% of GDP has to be met for 2024-2025, which the government must in view of the uncertainties and challenges emerging both domestically and globally, the finance ministry may see in the composition of the current year's capex a sliver of hope, notes A K Bhattacharya.
Whether she will pare the fiscal deficit target of 5.1 per cent of GDP, using the record dividend received from the RBI, or expand flagship government programmes will be keenly watched.
'My protest was in the interest of the nation.' 'I am just doing my duty as a citizen of this country.'
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
The deficit stood over Rs 8 trillion in the first seven months of the current financial year. Non-tax revenues, comprising transfers from the RBI and dividends of the public sector units, shored up the Centre's revenues.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
What some of our leaders were up to in the last couple of days.
Alloting more funds for MNREGA and PM-KISAN could wipe out the entire additional money that the Centre may have for FY25.
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.
After a brief health scare at the year-end, when she was admitted to the All India Institute of Medical Sciences in New Delhi on December 26 with a reported 'minor stomach infection, Finance Minister Nirmala Sitharaman met Andhra Pradesh Finance Minister Buggana Rajendranath Reddy in New Delhi on Friday, January 6, 2022.
Modi, who arrived in Kuala Lumpur on Saturday on a two-day visit, referred to the trade deals India agreed with various countries and said India is seen as a "trusted partner for growth".
The best solution would be the one followed in 2018 -- allow cost indexation until March 31, 2024 -- but exit at any time. The second-best alternative would be to allow time until March 31, 2025 for investors to exit their investments under the old indexation regime, points out Harsh Roongta.
