Finance Minister Nirmala Sitharaman on Tuesday announced nine priorities in the Union Budget 2024-25 for generating ample opportunities in the economy. The nine priorities include productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms.
The Union Budget 2025-26, while promising a new framework for smoother mergers and acquisitions (M&As), has plugged a major loophole on carry-forward losses for a total of eight assessment years between amalgamating company and amalgamated company from the date of loss instead of date of the merger. For all mergers effected on or after April 1, 2025, the losses can be carried forward only for the residuary period (counting from the date of loss).
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
'For all you know, in the next five years there could be a path-breaking cancer treatment and I may be absolutely fine. Or maybe I won't be. I have to live with both scenarios.'
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
So tell us, does Sitharaman's 7th consecutive Budget deserve cheers or boos?
'I do believe there will be a resolution in the next couple of months on the penal tariff and hopefully on the reciprocal tariff also.'
From the word go, Bihar growled its needs out when an MP from the state said aloud: "Give something for Bihar also, Madam." Every time the Budget mentioned cities and towns in Andhra Pradesh, "Kursi Bachao" was the call from Congress MPs.
Shukla said the two missions presented a major opportunity for the country and the sustained commitment of the government to the space sector, despite setbacks such as the Chandrayaan-II mission was laudable.
Several leading scientists, academicians, and agriculturalists have called for raising government support for research and development to make Indian agriculture future-ready.
In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
'India may never fully participate in the AI hype cycle, but we can position ourselves to benefit from its inevitable disenchantment and the cycle of disillusionment,' alerts Akash Prakash.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
Finance Minister Arun Jaitley to present Union Budget on February 28.
'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses.
India fully utilised its military modernisation budget in 2024-2025 -- the first time in five years -- and signed a record Rs 2 trillion defence contracts.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
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.
A lot of the 100-day programmes would be 'milestone-based' with timelines for achieving targets for social-sector schemes.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
'To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date.'
'The increase in the limit for TDS on interest to Rs 1 lakh will ensure greater cash flow in the hands of senior citizens.'
'Dayanand never needed an occasion to be present -- just a reason. And I've never had to look far when I needed a shoulder,' says Arun Khanna.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
Mrs Gandhi's power ebbed and peaked with the times. Mr Modi's has almost been constant, barring the few months of hard dip after the 240 seats of 2024, points out Shekhar Gupta.
'If the BJP had its way, it would sideline him in favour of someone else. But that's not feasible. There is no vote catcher in Bihar for the BJP.'
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
Handbags, wrist watches, footwear and sportswear, priced above Rs 10 lakh will now attract 1 per cent Tax Collected at Source (TCS), as per a notification issued by the Income Tax department. TCS at 1 per cent rate is currently being levied on motor vehicles costing above Rs 10 lakh effective January 1, 2025.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
'It must become faceless, just as the entire direct tax assessment system has already become fully online, without any human intervention in the normal course,' recommends A K Bhattacharya.
Some members held placards of news reports about unemployment figures.
'We have to retain some fiscal headroom without compromising on the promised fiscal consolidation roadmap.'
'The satisfaction of making content only comes when it reaches theatres as you are directly connecting to the masses.'
'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.
'Union Budgets are often used as political instruments and that was the intention of this government too.' 'But while the exercise has settled two fronts, it has left open several others and this has the potential to aggravate with time,' predicts Nilanjan Mukhopadhyay.
The Karnataka Legislative Assembly passed a Bill providing 4% reservation for Muslims in public contracts, sparking protests from the opposition BJP. The Bill, which amends the Karnataka Transparency in Public Procurements (KTPP) Act, aims to increase Muslim participation in government contracts valued up to Rs 2 crore for civil works and Rs 1 crore for goods and services. The BJP criticized the move as unconstitutional and vowed to challenge it in court.
'Traders and exporters will have to explore alternative markets.'
For promoting women-led development, Finance Minister Nirmala Sitharaman on Tuesday said the Budget carries an allocation of more than Rs 3 lakh crore for schemes benefitting women and girls.
'Both initiatives are welcome moves and we would commit ourselves with focused attention aligned with the national priorities, and pursue our exploration initiatives.'
