'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.'
Prime Minister Narendra Modi inaugurated Kartavya Bhavan, the first of ten Common Central Secretariat buildings, aiming to consolidate ministries for improved efficiency. The building will house several key ministries, relocating them from older, outdated structures.
'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.'
'Afterwards, some improvement is expected.'
State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
Country's largest lender State Bank of India (SBI) is looking to be among 10 top global banks in market capitalisation terms in the next five years, chairman CS Setty said on Wednesday. "The scope for value creation for the stakeholders is potentially very high. So the larger ambition is if the market supports whether we can be part of the top 10 global banks in terms of the market capitalisation (five years)," he said after listing of shares issued under Qualified Institutional Placement (QIP) at NSE.
'Raising the entire amount in one go may not be prudent, given the market dynamics.'
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
The era where nations thrived through rigid alignments is giving way to an age where the connective State defines power. For India, that era has arrived, points out Dr Nishakant Ojha.
Former Chief of Air Staff, Air Chief Marshal Arup Raha (Reired), on Saturday said the engine of the Air India aircraft that crashed near Ahmedabad airport on June 12 'definitely' lost power at a critical stage and there was no time for recovery.
There is a need for real-time or near real-time credit reporting, instead of the current fortnightly system, to improve underwriting precision, enable timely reflection of borrower actions such as loan closures or repayments, and deliver a superior consumer experience, Deputy Governor of the Reserve Bank of India (RBI), M Rajeshwar Rao said on Wednesday.
'We plan to launch new initiatives, including cash flow-based lending, to ensure borrowers are not burdened and can access funds more quickly.'
Finance Minister Nirmala Sitharaman on Wednesday asked fintech startups to come out with solutions to deal with the rising incidence of digital arrests, cheating by fly-by-night operators, and other kinds of cyber frauds. Speaking at the Digital Payments Awards 2025 ceremony here, the minister credited fintechs with helping speed up financial inclusion and taking the payment system to even the far-flung areas of the country.
Prime Minister Narendra Modi on Friday said the world has seen the power of India's indigenous weapons during Operation Sindoor, which is 'not over yet'.
Tharoor's recent remarks on Kerala's industrial growth sparked controversy within the Congress state unit.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
'The market has picked up for commercial vehicles. We are very close to pre-pandemic levels.'
'India has the potential to grow at more than 7%, with the monetary policy providing a supportive hand.'
The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
'Not only jobs are not being generated, but people are also losing jobs.'
'This helps the consumers secure more favourable terms from CIs.'
'The finance minister has done as much as she can when you look into the fiscal constraints she had.'
Citing evolving needs and aspirations of the citizens, he said that the civil service must adapt to contemporary challenges to remain relevant.
India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.
By democratising access to finance, empowering women and marginalised groups, and adapting to India's diverse regional landscapes, PMMY has helped fortify the country's grassroots growth engines, says Chief Economic Advisor to the Government of India, V Anantha Nageswaran.
Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
The government may relax the requirement of making payments to MSMEs within 45 days of buying goods and services to check large corporate from looking at other sourcing avenues, sources said. The announcement to this effect could be made in the Budget likely to be presented on July 23. The government is considering suggestions regarding changes to Section 43B(h) of the Income Tax Act made by MSMEs during pre-Budget consultations, sources said.
'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
'The way the bank is doing in the past 4-5 quarters, no reason to see why we will not be able to achieve that.'
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.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
The Budget assumes significance as it comes on the back of lower-than-expected growth numbers during the second quarter and geopolitical uncertainty.
In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday.
Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
As the strike by Samsung Electronics employees in Sriperumbudur on the outskirts of Chennai entered its 16th day, the company on Tuesday claimed that it is paying 1.8 times of the average salary that manufacturing workers in the region are getting. "At Samsung India, the welfare of our workers is our top priority. "The average monthly salary of our full-time manufacturing workers at the Chennai plant is 1.8 times the average salary of similar workers employed at other companies in the region,"a Samsung statement said.
One of the most critical elements for India to reach its export targets is to boost broadband infrastructure in the country.
The government on Tuesday announced that it will undertake a comprehensive review of the Income Tax Act to make it easy to read. Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will come out with SoP (standard operating procedure) for TDS defaults and simplify and rationalise compounding of such offences.
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