The Lok Sabha on Tuesday passed the Finance Bill 2025, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements.
Jharkhand's Finance Minister has ordered a statewide investigation into alleged fraudulent salary withdrawals from government treasuries, following reports of irregularities in multiple districts.
Both Houses of Parliament were adjourned sine die, concluding a Budget session marked by the passage of key legislations and the defeat of a Constitution amendment bill on women's reservation. The session saw frequent opposition protests and discussions on various issues, including the West Asia conflict.
Lok Sabha on Friday passed the Finance Bill 2023 with 64 official amendments, including the one that seeks withdrawal of long-term tax benefits on certain categories of debt mutual funds and another for setting up the GST Appelate Tribunal. The Finance Bill that gives effect to tax proposals for fiscal year starting April 1 was passed without a discussion amidst ruckus by opposition members demanding a JPC (Joint Parliamentary Committee) probe into the allegations against the Adani group of companies. While moving the bill for passage and consideration, finance minister Nirmala Sitharaman also announced the setting up of a committee under finance secretary to look into pension issues of government employees.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
The Sri Lankan government attributes the sharp depreciation of the rupee against the US dollar to the ongoing conflict in West Asia, citing increased costs for essential imports like gas, fertiliser, and oil.
Seven individuals, including senior executives from manpower firms, have been arrested in connection with alleged irregularities in overtime payments within the Chhattisgarh State Marketing Corp Ltd (CSMCL) during the previous Congress administration. The arrests follow an investigation into fraudulent billing practices and misappropriation of funds.
The Anti-Corruption Bureau/Economic Offences Wing arrested seven individuals, including executives from manpower firms, in connection with alleged irregularities in overtime payments within Chhattisgarh State Marketing Corp Ltd during the previous Congress administration.
Amid the arithmetic of subsidies, consumption and capacity, whichever government assumes office in Tamil Nadu after May 4 is likely to inherit a growing debate over how far the state can continue to expand welfare promises without placing additional strain on public finances and the power sector.
Union Minister Kiren Rijiju has accused the Trinamool Congress (TMC) of being 'anti-women' and obstructing the passage of the women's reservation bill in Lok Sabha. He criticised the TMC's opposition to the bill and defended the BJP's commitment to increasing women's representation in politics.
The government and the Opposition on Tuesday agreed on the passage of this year's General Budget and the Finance Bill without any discussion in Parliament in view of the impasse over National Democratic Aliiance's demand for removal of 'tainted' mini
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
The Rajya Sabha witnessed a heated debate between the opposition and the government regarding a discussion on the West Asia crisis, with accusations of political maneuvering and failure to uphold the dignity of parliamentary positions.
Finance Minister Nirmala Sitharaman stated in the Lok Sabha that the Insolvency and Bankruptcy Code (IBC) has been a crucial factor in improving the health of India's banking sector, significantly aiding in the recovery of non-performing assets (NPAs).
The BJP-led government in Bihar secured a vote of confidence in the state assembly, with Chief Minister Samrat Choudhary pledging economic development and significant investments. The motion was passed amidst heated debates and accusations between the ruling NDA and the opposition, highlighting political tensions and differing views on issues like women's reservation.
Punjab's Finance Minister Harpal Singh Cheema has announced that the newly enacted anti-sacrilege law in Punjab leaves no loopholes for offenders to escape justice. The law proposes stricter punishment, including life imprisonment and a fine of up to Rs 25 lakh, for any act of sacrilege against the Guru Granth Sahib.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
'The Atomic Energy Commission has approved the FDI policy and it is going in for ministerial consultations.'
Moody's Ratings has downgraded India's growth forecast for financial year 2026-27 (FY27) to 6 per cent from 6.8 per cent, attributing the revision to weaker consumption and industrial activity, elevated energy prices, and rising input costs stemming from the West Asia conflict.
Punjab's Finance Minister announces record tax enforcement outcomes for the financial year 2025-26, driven by intelligence-led actions and robust revenue protection, including significant penalties imposed and recovered from fraudulent networks.
Even if there is an early agreement on a cessation of hostilities in West Asia, the price shock will not go away easily, points out A K Bhattacharya.
'At the first sign of real trouble, that money will move. There will be a run.'
S&P Global Ratings projects India's economy to grow at 6.3 per cent even if crude oil prices average USD 130 per barrel in the current fiscal year, highlighting the nation's resilience amidst the West Asia crisis and strong commitment to fiscal consolidation.
A more vigilant Opposition and a more aware civil society including the media could have certainly helped keep a check on an unhealthy trend, says A K Bhattacharya.
The 'angel tax' provision in the Finance Bill will not impact startups in India, a senior government official said on Tuesday. Startups which are registered with the Department for Promotion of Industry and Internal Trade do not come under the purview, Anurag Jain, the secretary in the department said while speaking at the IVCA Conclave. "Let me put one thing very clearly. It doesn't affect startups in the least," he said, addressing the audience at the event organized by the venture capital industry lobby grouping.
'Many policyholders do not understand that non-medical expenses, cosmetic treatments, and certain other procedures are not covered by health insurance policies.'
Lok Sabha passed the Finance Bill, after approving more than two dozen official amendments, by voice vote, thus completing the Budgetary exercise for 2019-20 in the Lower House.
Kapil Chugh, accused of masterminding a Rs 1,825 crore GST refund fraud, has been arrested by DGGI officers upon his return from Dubai. He is alleged to have evaded investigation and is wanted in other economic criminal cases.
West Bengal Chief Minister Mamata Banerjee has accused central forces of searching her car and criticised the BJP for alleged election misconduct during a rally in Islampur, Uttar Dinajpur district.
A farmer in Budaun, Uttar Pradesh, received tax notices for Rs 14.66 crore due to a fraudulent firm operating in his name in Delhi, prompting an official investigation.
The CBI has registered a new case against Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to the Life Insurance Corporation (LIC) of India.
A farmer in Uttar Pradesh, India, was shocked to receive tax notices for millions of rupees due to a fraudulent firm operating under his name in Delhi. An investigation has been launched to address the identity theft and tax evasion.
United States President Donald Trump has backed a sanctions bill that could impose 500 per cent tariffs on countries buying Russian oil, giving the White House leverage against countries like China and India to stop them from purchasing cheap oil from Moscow.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
Congress leader Rahul Gandhi intensified the UDF's campaign for the Kerala polls, accusing the CPI(M) of stealing gold from the Sabarimala temple and questioning PM Modi's silence on the issue. He also addressed concerns about rubber prices and the FCRA amendments.
The Lok Sabha on Thursday passed the Finance Bill without discussion after the entire National Democratic Alliance boycotted the House in protest against what it said Prime Minister Manmohan Singh's "insulting" behaviour towards them.
This move will enable it to incur higher-than-mandated borrowing, and possibly spending, till the 2024 Lok Sabha election cycle.
The Lok Sabha rejected a resolution seeking the removal of Om Birla as Speaker by a voice vote amidst opposition protests and demands for an apology from Home Minister Amit Shah.
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