India's 18 largest states, accounting for over 90 per cent of the country's gross state domestic product (GSDP), are likely to record a marginal uptick in revenue growth to 7-9 per cent this year, from 6.6 per cent clocked in 2024-25 (FY25), rating agency Crisil said in a report on Tuesday. This growth, slower than the decadal average of about 10 per cent, would lift these states' cumulative revenue to around Rs 40 trillion in FY26 from Rs 37.26 trillion in FY25.
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
Finance Minister Nirmala Sitharaman on Tuesday termed misleading claims by opposition leaders that if any state is not named in the Budget speech, then it does not get any budgetary allocation. Replying to a Budget discussion in the Lok Sabha, Sitharaman asserted that no state was being denied money. She recalled that in the past Budgets by the UPA government also did not mention names of all states in their Budget speech.
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
What does this mean for you? Ramalingam Kalirajan explains.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
Brendan Lynch, the assistant US trade representative for South and Central Asia, will pay a five-day visit to India beginning Tuesday, days before US President Donald Trump's tit-for-tat tariff kicks in. The senior US trade official is expected to hold talks with Commerce Minister Piyush Goyal besides meeting a number of senior Indian officials.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
The government on Tuesday proposed to launch a mission to give fillip to the domestic output of critical minerals like copper and lithium, their recycling as well as acquisition of such assets abroad. Presenting Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will launch the auction of the first round of offshore mining blocks.
"The new structure will substantially reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said presenting what was dubbed as 'reformist' budget for the next fiscal in Lok Sabha.
From the 30-share blue-chip pack, Bharti Airtel, Power Grid, Bajaj Finance, Nestle, Mahindra & Mahindra, Reliance Industries, Asian Paints, IndusInd Bank, Hindustan Unilever and HDFC Bank were the biggest gainers. Bajaj Finance climbed nearly 2 per cent after the company reported an 18 per cent increase in its consolidated net profit to Rs 4,308 crore for the December quarter.
Domestic rating agency ICRA on Monday said Indian companies are likely to clock 7-8 per cent revenue growth during the March quarter of the current fiscal year, led by revival in rural demand and uptick in government spending. ICRA expects the private capital expenditure (capex) cycle to remain measured in view of the uncertainties around geopolitical developments and relatively subdued outlook on merchandise exports from India.
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
The Centre's fiscal deficit touched 74.5 per cent of the annual target at the end of January 2025, according to the data released by Controller General of Accounts (CGA) on Friday.
Union Finance Minister Nirmala Sitharaman on Tuesday announced that comprehensive development of Vishnupad Temple corridor at Gaya and Mahabodhi Temple at Bodh Gaya in Bihar will be supported by the government to transform them into world-class pilgrim and tourist destinations. These corridors will be modelled on the successful Kashi Vishwanath Temple Corridor, she said. Vishnupad Temple is one of the most ancient Hindu shrines located next to the Falgu river, while the Mahabodhi Temple is a UNESCO World Heritage Site.
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
Prime Minister Narendra Modi and US President Donald Trump have vowed to move forward with plans to work together to build US-designed nuclear reactors in India. The decision was made during their meeting at the White House, where they also agreed to significantly expand energy cooperation. The move comes after India announced plans to amend its nuclear liability law and the Atomic Energy Act, which had previously been obstacles to the implementation of the US-India civil nuclear deal.
'There is no retrospective changing of the law, only its simplification.'
With the fiscal deficit target staring at the government, the FY25 Budget has limited expenditure options, points out A K Bhattacharya.
Belying expectations, Finance Minister Nirmala Sitharaman did not tinker with the personal income tax rates in the Budget for 2022-23.
Union Finance Minister Nirmala Sitharaman on Tuesday said the fiscal deficit for 2024-25 is estimated at 4.9 per cent of GDP.
The Centre's fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit -- the gap between government's expenditure and revenue -- was at Rs 7,50,824 crore during April-October period, according to data released by the Controller General of Accounts (CGA). The deficit stood at 45 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24.
When the internal security situation spirals out of the control of the provincial law and order machinery, the CAPFs can be called in, providing a security buffer before the Army is deployed.
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
Passenger vehicle dispatches from companies to dealerships witnessed an increase of 1.6 pc year-on-year in January at 399,386 units driven by robust demand for utility vehicles, industry body SIAM said on Thursday. It was the highest-ever passenger vehicle dispatch for the month of January.
'It is a crisis of BJP's own doing. This is an in-house fire.'
The middle class is a big force to fulfil dreams of a prosperous and developed India and our government has taken many decisions to empower it, the prime minister said.
Seven of the meetings will be held in late November or early December at the finance ministry, as is the norm.
Tax experts answer your budget-related queries
Gold prices hit a fresh record high of Rs 84,900 per 10 grams in the national capital on Friday, driven by robust domestic demand and strong global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity continued its ascent for the third straight session, jumping by Rs 1,100 to hit a new peak of Rs 84,900 per 10 grams.
The varieties will take at least 4 to 5 years to reach farmers after they complete the usual cycle of breeder, foundation and certified seeds.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
Finance Minister Nirmala Sitharaman on Saturday announced six new schemes and increased the subsidised Kisan Credit Card (KCC) loan limit to Rs 7 lakh from Rs 5 lakh, targeting everything from unemployment to crop productivity enhancement across the country. Presenting her eighth budget speech in Parliament, Sitharaman positioned agriculture as "the first engine of growth" and unveiled the Prime Minister Dhan-Dhaanya Krishi Yojana, a flagship program targeting 100 agri-districts grappling with low productivity, moderate crop intensity, and below-average credit parameters.
'Stay disciplined, and remain invested.' 'Volatile times are the best to invest in structural opportunities at the right price.'
The BJP had no option but to get Jagdeep Dhankhar out of its way for the sake of the Modi government's stability, reveals Sheela Bhatt, the legendary political journalist.
At the customary meeting ahead of the session beginning Monday, the opposition raised various issues, including voter roll revision in Bihar, the Pahalgam terror attack and Trump's 'ceasefire' claims.
Ahead of the visit, officials from key government departments held intense discussions to identify key trade-related proposals.
This is the first Budget in Amrit Kaal, she said.
The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
