India Ratings & Research (Ind-Ra) has projected the aggregate fiscal deficit of states to rise to 3 per cent of gross domestic product (GDP) in 2026-27 (FY27), from an estimated 2.8 per cent in 2025-26 (FY26), citing higher revenue expenditure amid election-related pressures and scheme cost-sharing requirements.
Newly-appointed Maharashtra Deputy Chief Minister Sunetra Pawar has been allocated the portfolios of State Excise Duty, Sports and Youth Affairs and Minorities Development and Aukaf.
The 16th Finance Commission, led by Arvind Panagariya, has recommended maintaining the states' share in central taxes at 41% for the five-year period starting April 1, 2026. The government has accepted this recommendation, with Rs 1.4 lakh crore allocated to states for FY 2026-27 as Finance Commission Grants.
India's state-level fiscal rules have improved headline deficits, but the gains are fragile and uneven with major states still grappling with high debt levels, a World Bank report submitted to the 16th Finance Commission (FC) said. According to the report, despite nearly two decades of adoption of fiscal responsibility laws (FRLs), debt levels have not converged.
Maharashtra's political leaders, led by Chief Minister Devendra Fadnavis, paid tribute to the late Deputy CM Ajit Pawar during the state legislature's budget session, remembering him as a capable leader and administrator.
India's first maritime lender, state-owned Sagarmala Finance Corporation Ltd (SMFCL) hit the ground running with a Rs 4,300 crore disbursement announcement last Tuesday, within months of being registered as a non-banking financial company (NBFC) in June 2025.
Finance Minister Nirmala Sitharaman stated that it is premature to comment on the tariff changes announced by the United States, adding that the commerce ministry is currently reviewing the situation.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
The quantum of fraud detected by the bank is more than the 503 crore net profit it reported for the October-December quarter of 2025-2026.
After years of rapid expansion, the Centre's capital spending growth eases as private investment shows early signs of revival, points out A K Bhattacharya.
On Agri Stack, Expenditure Secy V Vualnam says it's progressing well; using IT, farmers will be able to choose exact fertiliser quantities needed, reducing crowding at fertiliser outlets.
The verdict marks a notable shift from a series of recent wins for Trump at the Supreme Court.
Finance Minister Nirmala Sitharaman launched a strong attack on Rahul Gandhi and the Congress party, accusing them of compromising India's interests on the world stage and selling out farmers and the poor during their time in power.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
Governments should move away from universal subsidies towards tightly targeted transfers, backed by stricter eligibility norms, sunset clauses and periodic audits to curb leakages and improve spending efficiency, a joint study by Asian Development Bank and PwC has recommended.
The ruling is expected to have wide-ranging consequences for global trade, businesses, consumers, inflation trends and household finances across the country.
The first leg of the Budget session concluded with debates over the India-US trade deal and a former army chief's memoir, and will reassemble on March 9.
We know what Mrs Sitharaman and Mr Chaudhary (who may soon be moving out of the finance ministry to head to Lucknow to take charge as president of the Bharatiya Janata Party's Uttar Pradesh unit) look like, but who are the others in these photographs?
Sitharaman continues with the tradition she set in 2019, carrying the budget speech in a 'bahi-khata', which she used after dropping the briefcase tradition.
Finance Minister Nirmala Sitharaman presented her ninth consecutive Union Budget, focusing on investments and growth. The speech was marked by its business-like approach and lack of cultural references, while opposition members raised concerns about regional representation.
Benchmark equity indices Sensex and Nifty extended their gains for the third straight session on Wednesday, driven by last-hour buying in bank, metal, and FMCG shares.
Benchmark equity indices Sensex and Nifty tumbled more than 1 per cent on Friday due to across-the-board selloff, especially in metal, IT and commodity stocks, tracking sluggish global markets.
Nationalist Congress Party leader Sunetra Pawar on Tuesday took charge as Maharshtra's deputy chief minister, a fortnight after her husband Ajit Pawar died in an air crash.
The official also advised all the trade partners to abide by the trade deals. The new 10 percent global tariff is part of Trump's protectionist trade agenda, aimed at addressing balance-of-payments issues and unfair trade practices.
Equity benchmark indices Sensex and Nifty rebounded sharply by nearly 1 per cent on Monday, driven by strong buying in power, banking, and financial stocks.
'Credit growth in India remains in double digits, even though corporate borrowing is subdued.' 'Corporate credit is weak because companies are cash-rich and cautious amid global uncertainty.'
The Congress party has strongly criticized the Union Budget, calling it 'lacklustre' and 'disappointing,' claiming it fails to address the needs of farmers, unemployed youth, and other key sectors.
Priyank Kharge accused the RSS of money laundering, demanding transparency in their financial dealings and questioning their exemption from laws applicable to other organizations.
The CBI has booked the son of industrialist Anil Ambani, Jai Anmol Anil Ambani, and Reliance Home Finance Ltd. (RHFL) in a case of alleged cheating in Union Bank of India that caused a loss of Rs 228 crore to the public bank, officials said on Tuesday.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
While methods such as generative user awareness remain among the most efficient and low-cost mechanisms for preventing cybersecurity incidents, they are becoming less effective as attacks become more sophisticated.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
The finance minister said that consolidation of state-owned banks could proceed at any time without waiting for the recommendations of the proposed high-level committee on banking.
Fiscal mismanagement by states is an issue the union government has to be concerned about as it impacts the nation's economy, the Supreme Court observed on Wednesday and advised the Centre and the Kerala government to iron out their differences on a cap on net borrowing by the southern state.
Finance Minister Nirmala Sitharaman on Sunday said individual persons residing outside India (PROI) will be permitted equity investments in listed Indian companies through a portfolio investment scheme.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
The idea of back-loading the target of fiscal consolidation is perhaps guided by the government's desire to be prepared for any adverse developments in the coming year, points out A K Bhattacharya.
Stock markets closed higher on Friday after the Reserve Bank of India kept its benchmark interest rate unchanged as expected and proposed allowing banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
'That journey across India has changed me forever.'
On reports of the BJP opposing the NCP merger, Fadnavis asserted that his party hasn't opposed anyone.
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