Union Finance Minister Nirmala Sitharaman's call for making lending rates affordable may not resonate anytime soon as banks still struggle with margin compression, and await clues from the Reserve Bank of India (RBI) on liquidity and rate action. Hinting that any lending rate cut was some time away, State Bank of India (SBI) managing director Vinay M Tonse said there was still some aggression in the market regarding deposit pricing.
Finance Minister Nirmala Sitharaman commended the outstanding performance of chess prodigy Praggnanandhaa
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.
Prime Minister Narendra Modi inaugurated the Pamban sea bridge, providing rail link between Rameswaram island and the mainland and flagged off the new Rameswaram-Tambaram (Chennai) train service. The bridge is India's first vertical sea-lift bridge, spanning 2.08 kilometers, and includes a 72.5-meter-long vertical lift span that can be raised up to 17 meters, allowing the smooth passage of large ships while ensuring seamless train operations. Built at a cost of over Rs 550 crore, the bridge features stainless steel reinforcement, high-grade paint, and fully welded joints, enhancing durability while reducing maintenance requirements. The bridge is a remarkable blend of tradition and technology.
Union Finance Minister Nirmala Sitharaman on Tuesday commended Indian financial sector regulators for doing a "world-class job" and bringing greater transparency into the system. Underlining that she is not against questioning or critiquing regulators, Sitharaman said there is a need to be "extremely conscious" about contributions made by them as well. Speaking at the Financial Express Best Banks Awards, the finance minister said, "I strongly recommend that facts are taken on board before we discuss anything to do with the regulators, strictly speaking."
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 per cent.
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.
Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions. The Central GST collection stood at Rs 33,821 crore, State GST at Rs 41,864 crore, Integrated IGST at Rs 99,111 crore and cess at Rs 12,550 crore.
Punjab Police detained several farmer leaders, including Sarwan Singh Pandher and Jagjit Singh Dallewal, while they were returning from a meeting with a central delegation in Chandigarh. The police also began evicting protesting farmers from the Shambhu and Khanauri border points, which have been closed for over a year. The action comes amid concerns from industrialists in Punjab over the prolonged closure of the border points, which they say has resulted in heavy losses. The meeting between the farmer leaders and the central delegation, led by Union Agriculture Minister Shivraj Singh Chouhan, was inconclusive, but the next meeting is scheduled for May 4.
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.
The changes will take effect on March 28, with portfolio adjustments expected before the market closes on March 27.
Devendra Fadnavis will lead the new Mahayuti coalition government in Maharashtra, with Eknath Shinde and Ajit Pawar serving as deputy chief ministers. The swearing-in ceremony is scheduled for Thursday evening at Azad Maidan ground in south Mumbai and will be attended by Prime Minister Narendra Modi and several Union ministers. The Mahayuti coalition won the recent assembly elections by a landslide, securing 230 out of 288 seats.
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.
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.
Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
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.
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'.
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.
Conditions attached by RBI ensure it won't take off, contend experts.
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.
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.
Full exemption for all health insurance premiums and reinsurance or a reduction in the GST rate from 18% to 5% on health insurance services is likely.
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.
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.
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.
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.
'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.'
The Union Finance Ministry on Friday announced key amendments to foreign exchange (forex) regulations, including mandating government approvals for all investments originating from countries that share land borders with India. The latest amendments also seek to simplify cross-border share swaps and streamline key definitions, such as "control". The updated regulations have aligned the treatment of downstream investments made by overseas citizen of India (OCI)-owned entities with those owned by non-resident Indians (NRIs) on a non-repatriation basis.
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.
'It is not as if Hindus are not being touched at all, and only Muslims are.'
India on Saturday announced plans to amend its nuclear liability law and set up a nuclear energy mission, a move that came ahead of Prime Minister Narendra Modi's likely visit to the United States.
Dr Manmohan Singh, the architect of India's economic reforms, had to literally face a trial-by-fire to ensure widespread acceptance of his path-breaking Union Budget of 1991 that saw the nation rise from its darkest financial crises.
Gyanesh Kumar, a 1988-batch Kerala Cadre IAS officer, has been appointed as the next Chief Election Commissioner (CEC) of India. Kumar, who was previously an Election Commissioner, will serve until January 26, 2029. His appointment comes amidst controversy as the Congress party demanded the government defer its decision until the Supreme Court concludes its hearing on a petition challenging the composition of the selection panel. Kumar's tenure will see him oversee several state assembly elections, including Bihar, Kerala, Puducherry, Tamil Nadu, and West Bengal.
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.
P K Mishra, a retired IAS officer of the Gujarat cadre, is currently serving as the principal secretary to the prime minister.
Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
'The committee has been constituted. Different government departments and FSDC members are part of it.'
The government will introduce a new Income Tax bill next week to take forward the "trust first, scrutinise later" concept, Finance Minister Nirmala Sitharaman said on Saturday. In another major reform move, the minister announced that the Foreign Direct Investment (FDI) in the insurance sector will be increased to 100 per cent from 74 per cent.
'I believe that the overall demand for commercial vehicles will improve, even though there is a slowdown in the GDP.'
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
