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.
Rajya Sabha MP Kapil Sibal has congratulated both the previous UPA government and the current dispensation for the extradition of Tahawwur Hussain Rana, the mastermind behind the 2008 Mumbai attacks. Sibal expressed confidence that the extradition will shed light on the involvement of individuals within Pakistan's establishment in the attacks. Rana is being questioned by the National Investigation Agency (NIA) to uncover the full extent of the conspiracy behind the deadly 2008 terror strikes. Sibal highlighted the efforts of the UPA government in establishing the NIA and pursuing Rana's extradition, and also acknowledged the current government's success in bringing him back to India. The interrogation is expected to focus on Rana's potential ties to the Lashkar-e-Taiba (LeT) and his role in the Mumbai attacks.
Shaheed was Manoj Kumar's first patriotic success. This small-budget black-and-white film had enormous impact, besides laying the foundation for Manoj's famous flag-waving Mr Bharat image that was strengthened by a string of subsequent films like Upkar, Purab Aur Paschim and Kranti.
The fiscal deficit for FY25 has been pegged at 4.8 per cent of GDP and at 4.4 per cent for FY26, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Budget 2025-26, she said net market borrowings are estimated at Rs 11.54 lakh crore for next fiscal year.
Bihar Chief Minister Nitish Kumar on Monday accused the opposition RJD-Congress combine of failing to curb communal clashes in the state while they were in power. He alleged that they "sought votes of Muslims" but did nothing to stop the violence. Kumar, who has been in power since 2005, highlighted the Bhagalpur riots of 1989, which he said were a result of "bad law and order" during the previous government's tenure. He praised the BJP-led central government for its support to Bihar and the recent budget, which he said had many announcements for the state.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
"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.
Prime Minister Narendra Modi said on Friday that there have been no attempts from abroad to stoke trouble in India ahead of the Parliament's Budget session, which begins on Saturday. Modi's statement comes as his government prepares to present its first full-fledged budget in its third term. He expressed confidence that the Budget session will infuse new confidence and energy in attaining the goal of 'Viksit Bharat' by 2047, and said his government has been working in a mission mode for an all-round development.
'The TMC can't go on forever taking advantage of the people's fright of the BJP.'
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.
Finance Minister Nirmala Sitharaman will present the Union Budget on Tuesday as the Monsoon Session of Parliament gets underway next week with the united opposition set to corner the National Democratic Alliance government on issues ranging from the NEET paper leak case and railway safety.
The Lok Sabha passed the Waqf (Amendment) Bill, 2025, with the ruling NDA defending it as beneficial for minorities while the opposition called it "anti-Muslim". All amendments moved by the opposition were rejected and the bill was passed with 288 votes in favor and 232 against. Union Minorities Affairs Minister Kiren Rijiju asserted that India is the safest place in the world for minorities, refuting claims of their insecurity.
Starlink's application for offering satcom services in India had been held up for the company's inability to comply with mandatory ownership disclosure norms.
The five largest exporters of major arms in 2020-2024 were the US (43 per cent), France (9.6 per cent), Russia (7.8 per cent), China (5.9 per cent), and Germany (5.6 per cent).
The FM proposed reduction in basic customs duty on gold and silver to 6 per cent and platinum to 6.4 per cent.
'Pakistan cannot sustain a war with India for more than four days. They are in such dire straits. At best they can sustain war for one week.'
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.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
Food budgets in urban areas spent less on protein as compared to beverages and processed foods, reveals the Household Consumption Expenditure survey data for 2023-24.
While this will incur a revenue loss amounting to 0.2 per cent of GDP, it will provide a strong boost to consumer sentiment and spending, points out Rajani Sinha.
India's Finance Minister Nirmala Sitharaman has announced an ambitious plan to develop the country's top 50 tourist destinations in a "challenge mode", with the aim of boosting employment-led growth and attracting international visitors. The Ministry of Tourism has received a significant budget increase for 2025-2026, with a focus on enhancing tourism infrastructure, promoting domestic and international travel, and ensuring the safety of tourists, particularly women. The government plans to promote homestays, improve connectivity to tourist spots, and provide performance-linked incentives to states that demonstrate effective destination management. The budget also includes investments in public enterprises, skill development programs, and initiatives to promote medical tourism and spiritual tourism.
The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts.
The fast-moving consumer goods (FMCG) sector is likely to report muted results in the fourth quarter of 2024-25 (Q4FY25) due to weakness in urban consumption. The weakness may persist through the first half of 2025-26 (H1FY26).
Whether the ambitious targets are achievable is a moot question as India's earlier target was 20,000 MW of nuclear power by 2020.
To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.
A leading Catholic Church daily in Kerala has described the Waqf amendment bill as a crucial test of secularism in Parliament, urging MPs to support it. The editorial in Deepika daily comes as the union government prepares to table the bill for parliamentary consideration. The editorial calls the bill a test of secularism and warns MPs that failing to support it would mark them in history as endorsing religious fundamentalism. The paper added that the bill will also put an end to the injustices faced by thousands of Hindu, Christian, and Muslim citizens who have suffered due to the Waqf law. The editorial also recalled the recent statement addressed to Kerala MPs by Kerala Catholic Bishops' Council (KCBC) where the KCBC President Cardinal Mar Baselios Cleemis Catholicos urged amending provisions in the Waqf law that validate claims over land which people of Munambam have lawfully possessed. Opposition parties have slammed the bill as "unconstitutional" and against the interest of the Muslim community.
'We face the risk of remaining a low-income country for a very long time unless something changes in the next few years.' 'Instead of constantly talking about becoming a developed economy, we need to start fixing the problems of the economy one by one.' 'There is so much potential, and we are squandering away the opportunity.'
It collected Rs 13.30 crore (Rs 133 million) on Friday, and zoomed past Rs 20 crore (Rs 200 million) on Saturday and Sunday.
High frequency indicators, like vehicles sales, air traffic, steel consumption and GST E-way bills, point towards a sequential pickup in momentum of economic activity during the second half of the fiscal 2024-25 and sustain moving forward, RBI Bulletin said on Wednesday. However, a strong dollar, driven by US economic resilience and trade policy pivots, could exacerbate capital outflows from emerging economies, push risk premiums higher, and intensify external vulnerabilities, said an article on 'State of the Economy' published in RBI's February bulletin.
Budget 2025 lays down a transformational roadmap for India's digital and economic future, focusing on AI-driven enterprise modernisation, workforce skilling, and sustainable innovation. With bold investments in AI, digital infrastructure, and ease of doing business, the government has set the stage for businesses to scale, innovate and compete on a global level.
After a massive selloff in the shares of food delivery giants Zomato and Swiggy, analysts believe the time may be right for investors to start adding these stocks to their portfolio carts. Their optimism, they say, stems from the sharp correction in stock prices and valuations, which seem to have "over-baked" concerns about the two companies.
'As the Budget has taken some measures to spur growth, similar action from the MPC may be expected.'
Only four working days are left for the ongoing budget session to come to an end on April 4.
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.
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