News for 'Union Finance'

When Sitharaman travels by Mumbai local train

When Sitharaman travels by Mumbai local train

Rediff.com24 Feb 2024

She interacted with fellow commuters during the 30-km ride, the social media post said.

Sitharaman presents Rs 50.65 lakh cr Budget for FY26

Sitharaman presents Rs 50.65 lakh cr Budget for FY26

Rediff.com1 Feb 2025

Finance Minister Nirmala Sitharaman on Saturday presented Union Budget 2025-26, envisaging an expenditure of Rs 50,65,345 crore, an increase of 7.4 per cent over the current fiscal.

Budget allocates Rs 3,481 cr to wipe out Maoist menace

Budget allocates Rs 3,481 cr to wipe out Maoist menace

Rediff.com1 Feb 2025

The Union Budget 2025-26 has allocated Rs 3,481.27 crore for security-related expenditure (SRE) and the Special Infrastructure Scheme for Left Wing Extremist (LWE) areas. The BJP-led Centre has set a target of March 2026 to end the Maoists menace in the country. The allocation is considered significant in the wake of Union Home Minister Amit Shah's repeated statements that the Narendra Modi government has resolved to end Naxalism in the country by March 2026. This year, till January-end, 40 Naxalites have been killed in separate gunfights in the worst Naxal-hit state of Chhattisgarh. Last year, 219 Naxalites were neutralized by security forces in separate encounters in Chhattisgarh. Six Maoists were killed in Odisha in 2024, while eight were arrested and 24 had surrendered. According to the home ministry's data, 48 Naxals have so far been killed this year in all Naxal-affected states, 290 were killed in 2024 and 50 in 2023. The government has also established 290 camps of security forces in Naxal-affected areas since 2019 and 88 more are proposed to be set up in 2025.

Going local for global: Bharat Global Ports to test waters at home first

Going local for global: Bharat Global Ports to test waters at home first

Rediff.com31 Mar 2025

The government is looking to give Bharat Global Ports a certain amount of domestic exposure after it set up the state-owned consortium to increase India's global maritime heft, officials aware of the development said. The intended domestic exposure is meant to give the consortium experience and build its credentials for international projects.

Why Must We Have 7 I-T Categories?

Why Must We Have 7 I-T Categories?

Rediff.com4 Feb 2025

'The finance minister missed yet another opportunity to simplify the income tax structure in the Budget.' 'This was an opportune moment to get rid of the old tax system entirely and move fully to the new system,' asserts M Govinda Rao, member of the 14th Finance Commission.

Govt to rope in pvt sector to build small N-reactors

Govt to rope in pvt sector to build small N-reactors

Rediff.com23 Jul 2024

Presenting the Union Budget, Sitharaman announced that the government will partner with the private sector to set up Bharat Small Reactors and in the research and development of small modular reactors.

Nifty Indices Rebalance Begins

Nifty Indices Rebalance Begins

Rediff.com3 Mar 2025

The changes will take effect on March 28, with portfolio adjustments expected before the market closes on March 27.

Backbencher but...: Teacher recalls student Fadnavis

Backbencher but...: Teacher recalls student Fadnavis

Rediff.com4 Dec 2024

Devendra Fadnavis, who is set to become the chief minister of Maharashtra for a third time, was a sensitive, polite and helpful student who never boasted about his family's political background, recalls one of his school teachers. Savitri Subramanium, who was Fadnavis' teacher in Saraswati Vidyalaya from Class 8 to 10, says he was an average student but studied well. She remembers him as a polite and simple student who never boasted about his family's political background even though his father Gangadharrao Fadnavis was an MLC at the time. Subramanium said she never thought that Fadnavis would become a good orator as he never came on stage or performed on stage during the school days. She added that he may have inculcated these qualities during his participation in Akhil Bharatiya Vidyarthi Parishad (ABVP) as a student activist.

Govt extends time limit for filing updated returns

Govt extends time limit for filing updated returns

Rediff.com1 Feb 2025

The time limit is proposed to be extended from the current two years to four years.

Sitharaman's big plans for Vishnupad, Mahabodhi corridors

Sitharaman's big plans for Vishnupad, Mahabodhi corridors

Rediff.com23 Jul 2024

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.

Young Indian Leaders Shine at WEF 2025

Young Indian Leaders Shine at WEF 2025

Rediff.com23 Jan 2025

Barring a few, such as Andhra Pradesh Chief Minister N Chandrababu Naidu (74), Union Minister C R Patil (69) and Uttar Pradesh Finance Minister Suresh Khanna (71), most other ministers attending the WEF represent the next generation of India's politicians.

'They Accept Any Job Because There Is No Job In The Market'

'They Accept Any Job Because There Is No Job In The Market'

Rediff.com31 Jan 2025

'Not only jobs are not being generated, but people are also losing jobs.'

An Agitation That Woke Up Kerala

An Agitation That Woke Up Kerala

Rediff.com20 Mar 2025

It was a protest which held a mirror to the government of a state taking pride in its commitment to democracy, gender equality and social indices.One person, who in his employed days had known governments and political parties at close quarters, told me that public perception of how the Kerala government handled the ASHA workers' strike had been terrible, reports Shyam G Menon.

Some improvement in India-China ties from Oct last year: Jaishankar

Some improvement in India-China ties from Oct last year: Jaishankar

Rediff.com26 Mar 2025

He said that the two nations will have issues in the foreseeable future. However, there are ways of addressing those issues and what happened in 2020 was not the way to address those issues.

Will Nirmalaji Be Generous To Bihar?

Will Nirmalaji Be Generous To Bihar?

Rediff.com30 Jan 2025

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.

FM Nirmala Sitharaman to review RRBs' performance after Budget session

FM Nirmala Sitharaman to review RRBs' performance after Budget session

Rediff.com30 Jul 2024

Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.

Budget should cut taxes to boost consumption: Barclays

Budget should cut taxes to boost consumption: Barclays

Rediff.com23 Jan 2025

The government in FY26 Budget should announce an "effective" personal income tax cut to support consumption and demand, Barclays said on Thursday. In its FY25-26 Union Budget preview, Barclays said the key ask from the Budget, to be presented on February 1, is to support growth while adhering to fiscal consolidation path.

'Waqf Bill Targeted, Unfair Legislation'

'Waqf Bill Targeted, Unfair Legislation'

Rediff.com4 Apr 2025

'It is not as if Hindus are not being touched at all, and only Muslims are.'

Nirmalaji Wants To Bring Taxes To Nil But...

Nirmalaji Wants To Bring Taxes To Nil But...

Rediff.com14 Aug 2024

'... there are challenges to overcome and the country needs money for that.'

EC asks Kejriwal to prove Yamuna 'poisoning' claim amid slugfest

EC asks Kejriwal to prove Yamuna 'poisoning' claim amid slugfest

Rediff.com28 Jan 2025

A heated political battle erupted Tuesday over Arvind Kejriwal's claim of the Haryana government 'poisoning' the Yamuna water, with the Bharatiya Janata Party saying he cannot be forgiven for his 'dangerous statement', while the Aam Aadmi Party chief asserted he won't let the people of Delhi die due to the dirty, poisonous water.

No income tax up to Rs 12 lakh under new regime

No income tax up to Rs 12 lakh under new regime

Rediff.com1 Feb 2025

Individuals earning up to Rs 12 lakh annually will not have to pay any income tax under the new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class by raising exemption limit and rejigging slabs. For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs 75,000.

Health budget up by 11%, daycare cancer centres announced

Health budget up by 11%, daycare cancer centres announced

Rediff.com1 Feb 2025

The Union health ministry has been allocated Rs 99,858.56 crore in the Budget 2025-2026, an around 11 per cent hike over the Rs 89,974.12 crore in the budget (revised estimates) of 2024-2025 with the government announcing setting up daycare cancer centres at all district hospitals over the next three years.

Will GST Council cut taxes on insurance premium?

Will GST Council cut taxes on insurance premium?

Rediff.com20 Dec 2024

The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.

New I-T bill may be introduced in LS next week: Sitharaman

New I-T bill may be introduced in LS next week: Sitharaman

Rediff.com8 Feb 2025

Finance Minister Nirmala Sitharaman on Saturday said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week.

Will money in hand from tax breaks spur housing demand?

Will money in hand from tax breaks spur housing demand?

Rediff.com21 Apr 2025

Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.

Law ministry allocated Rs 1,400 cr for 2024 LS polls, new EVMs

Law ministry allocated Rs 1,400 cr for 2024 LS polls, new EVMs

Rediff.com1 Feb 2025

The Union Budget 2025-26 has allocated over Rs 1,400 crore to the law ministry to meet carry forward expenditure for holding the 2024 Lok Sabha elections and purchase of new electronic voting machines for the Election Commission. The allocation includes Rs 500 crore for the elections, Rs 300 crore for voter identity cards, Rs 597.80 crore for "other election expenses", and Rs 18.72 crore for new EVMs. The law ministry is the nodal agency for the Election Commission, polls, electoral laws, and appointment of members to the poll panel.

Factors that will guide the markets this week

Factors that will guide the markets this week

Rediff.com3 Feb 2025

RBI's interest rate decision, quarterly earnings and global cues would be the major driving factors for equity markets this week, analysts said adding that the impact of the Union Budget could linger on this week. Trading activity of foreign investors will also be a key driver for the markets, experts noted. "US and India's manufacturing PMI for January to be released on Monday, will be the key macro data to watch out for.

Waqf bill to be listed in budget session of Parliament

Waqf bill to be listed in budget session of Parliament

Rediff.com30 Jan 2025

The government has also listed three new bills for the session -- 'The Protection of Interests in Aircraft Objects Bill, 'Tribhuvan Sahkari University Bill', and the 'Immigration and Foreigners Bill'.

Politics over NEP heats up, TN to protest on Tuesday

Politics over NEP heats up, TN to protest on Tuesday

Rediff.com17 Feb 2025

Tamil Nadu is set to protest against the National Education Policy (NEP) on February 18, with the ruling DMK and its allies announcing a demonstration. The state government has been at odds with the Centre over the implementation of the NEP and the three-language formula proposed in the policy. Union Education Minister Dharmendra Pradhan dismissed the state's opposition as "politics" and asserted that the Centre is committed to implementing the NEP across the country. The DMK, however, accused the Centre of encroaching on the state's rights and using the office of the Governor to push the NEP.

Fadnavis meets Shinde ahead of crucial BJP meet

Fadnavis meets Shinde ahead of crucial BJP meet

Rediff.com3 Dec 2024

Ahead of the crucial legislature party meeting scheduled for Wednesday, Bharatiya Janata Party leader Devendra Fadnavis met with caretaker Chief Minister Eknath Shinde on Tuesday, the first in-person meeting since their discussions in Delhi last week for government formation.

The Hotelier Who BJP Apologised To

The Hotelier Who BJP Apologised To

Rediff.com24 Sep 2024

Sree Annapoorna Sree Gowri Shankar is a familiar name across the country. With over 1,500 employees, it is renowned for its filter coffee and Keerai Vada throughout Tamil Nadu. Its operating revenues range from Rs 100 crore to Rs 500 crore.

Utility vehicle demand drives PV sales to record high at over 43 lakh units in FY25: SIAM

Utility vehicle demand drives PV sales to record high at over 43 lakh units in FY25: SIAM

Rediff.com15 Apr 2025

Passenger vehicle dispatches in India from factories to dealers rose to record levels at over 43 lakh units in FY25, with utility vehicles accounting for 65 per cent of the total sales in the segment, industry body SIAM said on Tuesday. Passenger vehicle (PV) dispatches rose to 43,01,848 units in the last fiscal year, marking a 2 per cent increase compared to 42,18,750 units in FY 2023-24.

Big relief in TDS deduction on rent from Rs 20K to Rs 50K per month

Big relief in TDS deduction on rent from Rs 20K to Rs 50K per month

Rediff.com1 Feb 2025

In a major relief for taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced an increase in the threshold for Tax Deduction at Source (TDS) on rent from Rs2.40 lakh per annum to Rs6 lakh per annum while presenting the Union Budget 2025-26. Presenting the budget in Lok Sabha, the Finance Minister said, "The annual limit of Rs 2.40 lakh for TDS on rent is being increased to Rs 6 lakh.

Markets open higher ahead of Budget presentation

Markets open higher ahead of Budget presentation

Rediff.com1 Feb 2025

From the 30-share blue-chip pack, ITC Hotels, IndusInd Bank, Mahindra & Mahindra, Sun Pharma, UltraTech Cement and NTPC were among the biggest gainers. Titan, Kotak Mahindra Bank, Nestle, Asian Paints, HCL Tech and ICICI Bank were among the laggards.

For Bengal violence, Mamata blames Centre, BJP, BSF

For Bengal violence, Mamata blames Centre, BJP, BSF

Rediff.com17 Apr 2025

West Bengal Chief Minister Mamata Banerjee has accused the Border Security Force (BSF), central agencies, and the BJP of fanning tension in Murshidabad by allegedly facilitating cross-border influx from Bangladesh. She also urged Prime Minister Narendra Modi to keep the Union Home Ministry under control. Banerjee has announced a compensation of Rs 10 lakh each for the families of three people killed during the violence and directed the state chief secretary to initiate a probe into the role of the BSF.

Centre forms panel to choose next CEC: Sources

Centre forms panel to choose next CEC: Sources

Rediff.com28 Jan 2025

The government has set up a search committee under Union Law Minister Arjun Ram Meghwal to shortlist names for the appointment of the next chief election commissioner, sources said on Monday, citing an order.

'Prime Minister Modi Has Been Fiscally Conscious'

'Prime Minister Modi Has Been Fiscally Conscious'

Rediff.com5 Feb 2025

'Spend, but create assets, spend but make sure that people benefit from it.' 'This has been a beautiful guiding principle. And I think as a finance minister I owe so much to the prime minister for keeping this path clear before us.'

Despite 6.6% growth, auto dealers have mixed expectations

Despite 6.6% growth, auto dealers have mixed expectations

Rediff.com6 Feb 2025

The Indian automobile retail sector saw a strong start to 2025, with overall sales increasing by 6.6 per cent year-on-year (YoY) in January, according to the latest report by the Federation of Automobile Dealers Associations (FADA). Despite the positive numbers, the association noted that auto dealers have mixed expectations for the coming months. Nearly half (46 per cent) anticipate further growth in sales, while 43 per cent believe sales will remain steady.

Aug tax mop-up gives boost to govt finances

Aug tax mop-up gives boost to govt finances

Rediff.com15 Oct 2023

The Union government's finances witnessed significant improvement in August after a stressful first four months of the current fiscal year. India's gross tax revenue, comprising both direct and indirect taxes, for the first five months of 2023-24 surged 16.5 per cent year-on-year (Y-o-Y) to Rs 11.8 trillion. During the April-July period, gross tax revenue increased by a mere 2.8 per cent compared to the Budget Estimate of 12.1 per cent growth for FY24.

Shaktikanta Das appointed principal secretary to PM

Shaktikanta Das appointed principal secretary to PM

Rediff.com22 Feb 2025

P K Mishra, a retired IAS officer of the Gujarat cadre, is currently serving as the principal secretary to the prime minister.