US President Donald Trump has 'America First' as his priorities and this includes making America safe again, making the country affordable, achieving energy dominance, draining the swamp and bringing back American values, the White House said on Monday.
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
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 gross GST collection increased 8 per cent to Rs 1.74 lakh crore in June, sources said on Monday. The government, however, has discontinued the official release of monthly GST collection data, they added. Sources said the gross Goods and Services Tax (GST) collection so far this fiscal (April-June) stood at Rs 5.57 lakh crore.
Several leading scientists, academicians, and agriculturalists have called for raising government support for research and development to make Indian agriculture future-ready.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
'Why has Maharashtra slipped up over the past couple of decades?' 'Not only is this question critical for residents of the state, but given that it accounts for 14% of India's GDP, a faster-growing Maharashtra implies a faster-growing India as well, point out Shishir Gupta and Rishita Sachdeva.
Driven by smartphone, electronics exports have reached $22.5 billion in value in the first eight months of the current financial year (FY25), a near 28 per cent growth over the $17.66 billion electronics exports during the corresponding period of FY24.
A progressive tax system (in which the rich pay more than the poor) is one in which direct taxes account for more revenue than indirect taxes (which are on goods and services). In that respect, India's period of supposedly extortionate tax rates produced a most undesirable result because the Centre's next direct tax revenue was barely a fifth of its net indirect tax revenue.
Finance Minister P Chidambaram announced a slew of taxation proposals in the Union Budget on Thursday.
Addressing a rally in Mhow on Monday, Gandhi said Dalits, backwards and tribals had no rights before Independence, when "only maharajas and rajas enjoyed rights".
Clarity on the roadmap necessary to assess its likely impact on near-term fiscal health and investment.
Deputy Governor Michael Patra warned about the spillover effects of food inflation.
Data from Value Research analysed on five-year, three-year and one-year performances of active equity schemes to pick the best performers in popular scheme categories.
The government on Wednesday released a brand new direct taxes code that will replace the 1961 Income Tax and other direct tax laws, saying it will provide a simple tax structure for better compliance.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
States are on track of fiscal consolidation with their total borrowings reaching Rs 5 trillion till October, which is 60 per cent of the projected borrowings of Rs 8.38 trillion till December 2024, according to data from official sources. Government officials said the lower-than-projected borrowings by states were a sign of prudent fiscal management by them. States announce their borrowing plans every quarter.
Doubling standard deduction to Rs 1 lakh, increasing tax break on interest paid on housing loan and rationalisation of capital gains tax regime are some of the expectations that consultancy firm KPMG has from the Budget 2024-25 to be unveiled on July 23 in Parliament. There has been a significant rise in medical expenses, fuel costs and overall inflation.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
Stung by the low 4.4 per cent growth projection for this fiscal, the pre-Budget Economic Survey on Thursday endorsed Kelkar Panel recommendations on tax reforms besides a cut in subsidies and interest rates to deal with mounting and worrying fiscal d
Finance ministers of states demanded an increase in allocation under 50-year interest-free loan scheme, while fiscally stressed states like Punjab and Kerala pitched for a special package and borrowing flexibility, sources said on Friday. In a pre-budget meeting with Union Finance Minister Nirmala Sitharaman, states have also urged for higher borrowing limits to support fiscal activities, besides additional funds for Jal Jeevan Mission.
An analysis of the affidavits of all the 90 winning candidates by the Association for Democratic Reforms and Haryana Election Watch show a slight rise in the number of crorepati MLAs, from 93 percent in 2019 to 96 percent this time.
Industrial output rose to nearly three-year high of 6.4% in August.
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
Finance minister tries to put house in order before reforms are unveiled in February.
'The IAS officers are after the rich people, the IRS officers are after the middle class and the IPS officers are after the poor. This is the new varnashrama created by the bureaucracy.'
He said the government has already begun implementing tax reforms.
The government should scrap the windfall profit tax on domestically produced crude oil as the levy is adversely impacting the capex-intensive exploration of oil and gas, the industry said in its recommendation for the forthcoming annual Budget. India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies. At that time, a Rs 23,250 per tonne ($40 per barrel) windfall profit tax on domestic crude production was levied.
The tax department will remain a source of endless nightmares for citizens and 'transparent taxation' will remain an empty slogan and a cruel joke, observes Debashis Basu.
The principal opposition party though appeared content securing 99 of the 543 seats in the 2024 national elections as against its all-time low of 44 in 2014 and then 52 in 2019.
The introduction of GST would constitute India's biggest reform.
ICRIER has suggested that the government hasten tax reforms by lowering peak customs duties to ensure export competitiveness of domestic industry.
Prime Minister Narendra Modi led-NDA government in its third term must tackle the problem of unemployment in the country, especially in the unorganised sector and in small and medium enterprises, former NITI Aayog Vice Chairman Rajiv Kumar said on Monday. Kumar also emphasised that the government now must finalise the four labour codes as it has been delayed beyond expectations. "We must recognise that post-COVID economic recovery has been a K-shaped recovery.
'While criticising India's high tariffs, Mr Trump stated he would impose reciprocal taxes on Indian products if re-elected.' 'However, since India's tariffs follow WTO rules, Mr Trump's actions would violate these rules,' Ajay Srivastava points out.
Two stock market experts discuss their wishlists for Union Budget 2017 with Rediff.com's Aslam Hunani.
'The corporate tax cuts will obviously result in lower tax payments by companies,' says Central Board of Direct Taxes member Akhilesh Ranjan who retires after 37 years in government service.
Ahead of the Budget exercise, which is set to begin on Wednesday, Finance Minister P Chidambaram on Tuesday hinted at further moderation in tax rates, deepening of reforms and cut in wasteful expenditure.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances