Finance Minister Nirmala Sitharaman is cutting short her official visit to the US and Peru and will depart for India at the earliest, following the terror attack in Jammu and Kashmir. Sitharaman arrived in the US on Sunday for a six-day visit, after which she was scheduled to travel to Peru for a five-day trip. The decision comes after 26 people were killed in a terror attack near Kashmir's Pahalgam town on Tuesday.
The Budget assumes significance as it comes on the back of lower-than-expected growth numbers during the second quarter and geopolitical uncertainty.
'I am doing the drive in making sure that people pass this on. So the drive is not with distrust. The drive is just in case.' 'Just in case it doesn't get passed on, I am here.'
'He is a man of action and goes to the ground and solves the problem.' 'Be it the Air India crash of Ahmedabad, Morbi bridge collapse, Deesa blast or Gambhira bridge collapse, he is on the spot.'
The International Monetary Fund chief economist-designate Raghuram Rajan feels big deficits -- whether India's fiscal deficit or the United States' current account deficit -- are not sustainable in the long term.
If they act now, they can reshape the strategic map of Asia without firing a shot. If they wait, the next opportunity will come only after a serious Taiwan Strait incident -- by which time the price will be far higher, and the room for boldness far smaller -- the opportunity may well be lost by then. The question is no longer whether this can or should be done, points out Varun Arya.
The government is developing ports across the country as centres for green hydrogen production and export, Sarbananda Sonowal, minister of ports, shipping and waterways (MoPSW) said on Tuesday. "Across the country, over 12 million tonnes of green hydrogen-based e-fuel capacity has been announced.
After the merger of regional rural banks (RRBs) under the "One State, One RRB" policy to improve their efficiency and minimise competition among public-sector banks (PSBs) that sponsor them, the government is planning to list at least five RRBs by the end of financial year 2026-27 (FY27). After the latest amalgamation that came into effect on May 1, there are 28 RRBs in 26 states and two Union Territories (UTs), with more than 22,000 branches covering 700 districts.
Senior finance ministry official Navjot Singh, killed in a BMW crash, was cremated. The driver's alcohol test was negative, and an investigation is underway.
Bank unions on Friday deferred their two-day nationwide strike beginning Monday after they received positive assurance from both the finance ministry and the IBA on their demands, including a five-day work week and adequate recruitment in all cadres. The strike call for March 24 and 25 was given by United Forum of Bank Unions (UFBU), an umbrella organisation of nine bank employees' association.
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
In Delhi, 8.91 per cent of road accidents in 2023 were caused by overspeeding, while in Bengaluru the share was just over 5 per cent.
India and the UK have announced a series of defence cooperation initiatives, including a USD 468 million deal for the supply of lightweight multirole missile systems to enhance India's air defence capabilities.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
The finance ministry will have to rely on the weapons in its arsenal, since monetary policy is not providing the support.
'The heat shield technology for re-entry vehicles was first mastered in DRDO for the Agni missile.' 'This is why the Americans were so opposed to Agni in the 1980s, unlike other missiles -- it was a re-entry vehicle.'
'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
'Initiatives such as the Young Professionals Scheme also offer young graduates the chance to live and work in the UK after gaining experience.'
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
'If all of us (all the 57 Shiv Sena MLAs) stand together we can change the dynamic. We are not afraid of anyone.'
The Congress party in India has accused the government of "impropriety" in the sudden termination of KV Subramanian's position as India's executive director at the IMF, alleging it was linked to the Union Bank of India's purchase of two lakh copies of his book. The party also questioned the government's stance on Pakistan's request for a loan from the IMF.
This marks a 67% increase from the Rs 2,537 crore lost in scams in 2022-2023.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
The Ministry of Micro, Small and Medium Enterprises (MSME) has received "positive" feedback from industry regarding the 45-day payments cycle for MSMEs, according to a senior official familiar with the matter. The comment assumes significance amid concerns raised by some MSMEs that big companies may stop buying from small and medium suppliers and instead choose to make purchases from unregistered enterprises.
Finance Minister Nirmala Sitharaman on Thursday asked India Inc to take advantage of the policies and reforms undertaken by the government and no longer hesitate to invest more and expand capacities. Sitharaman also asked the industry to partner with the government for skilling the youth and also to engage with the government throughout the year, and not just before the Budget.
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
'Experts and stakeholders have raised concern over the refund provision in the draft Bill. That was a drafting error, which will be rectified,' a government official said.
The Finance Ministry's annual report has revealed that the US Agency for International Development (USAID) funded seven projects worth USD 750 million in India during the 2023-24 fiscal year. The projects, implemented in partnership with the Indian government, cover areas like agriculture and food security, water and sanitation, renewable energy, disaster management, health, sustainable forests, and climate adaptation. This disclosure comes amidst controversy over USAID's alleged role in influencing Indian elections, with claims that the agency allocated USD 21 million to India for 'voter turnout'. However, the report clarifies that no funds were dedicated to enhancing voter turnout.
How the UN's flagship climate summit lost its direction and what's at stake.
A court in New Delhi on Saturday granted bail to Gaganpreet Kaur, the key accused in the BMW incident, saying the accident's CCTV footage showed the allegation of culpable homicide was on a 'fragile foundation'.
'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
'There is no retrospective changing of the law, only its simplification.'
Defence Procurement Manual 2025 lays down the guiding principles for revenue procurements in the defence ministry worth around 1 trillion in a financial year.
In the past 10 years, over 500 PSB officers have died by suicide. When targets are overwhelming, senior management and customers are both impatient, and there is constant fear, not every banker has the resilience to survive and thrive, warns Tamal Bandyopadhyay.
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
In the BMW accident case near Dhaula Kuan that claimed the life of Deputy Secretary in the Ministry of Finance, Navjot Singh, accused Gaganpreet Kaur has sought bail, stressing that the crash was 'wholly accidental' and unintentional.
