The Unified Pension System (UPS), approved by the Union Cabinet on Saturday, is "fiscally prudent" as it will be funded within the Centre's fiscal projections, according to T V Somanathan, the Cabinet Secretary-designate. Speaking to Business Standard immediately after the Cabinet nod, former finance secretary Somanathan, who headed the committee set up in March 2023 to review the National Pension System (NPS), said the UPS will not postpone pension expenditure as it will be contributory and financed each year.
'He didn't implement good policies for good politics.' 'He never worked on comprehensive policy-making.' 'In Kejriwal's own constituency youths are jobless.'
Abid Ali's contributions to Indian cricket remain etched in history. His spirit, sportsmanship, and selfless play defined an era, and his legacy will endure in the annals of the game.
The growth was primarily driven by domestic investments, which accounted for 60 per cent of the total inflows during the first quarter of the financial year.
Finance Minister Nirmala Sitharaman on Saturday said the government will arrange identity cards and registration on the e-Shram portal to assist 1 crore gig workers. Presenting the Union Budget 2025-26, the finance minister also said a scheme for the socio-economic upliftment of urban workers will be implemented.
The monthly Rs 2500 payment for poor women is expected to cost Rs 11,000 crore while the pension scheme of Rs 2000 for every senior citizen will cost around Rs 4100 crore. The Yamuna clean up will cost over Rs 10,000 crore while a similar amount is required to upgrade Delhi's hospitals. Ultimately, the new BJP government will have no choice but to ask the centre for financial support, notes Rashme Sehgal.
We need to equip the Indian Armed Forces, not 'commercial' as Trump wants, but 'operationally' looking at growing Chinese military capabilities, asserts Lieutenant General Prakash Katoch (retd).
Tax experts answer your budget-related queries
'The increase in the limit for TDS on interest to Rs 1 lakh will ensure greater cash flow in the hands of senior citizens.'
Kejriwal described the BJP's election manifesto as "dangerous for the country".
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
More than 8 crore income tax returns for assessment year 2024-25 have been filed this year, of which 74 per cent taxpayers have opted for new tax regime, a source said. Also, around 75 lakh updated ITRs have been filed this year in high garnered additional taxes of Rs 8,000 crore.
rediffGURU T S Khurana answers readers' personal income tax queries.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
Ahead of the Haryana Assembly polls, the Congress on Wednesday announced seven guarantees, including the promises of a legal guarantee for minimum support price (MSP) and a caste survey, if voted to power.
With short-term rates firming up due to tight liquidity conditions, Indian corporates are opting to borrow long term to take advantage of the attractive rates by locking them in these uncertain times. The banking system has a liquidity deficit of over Rs 2 trillion. According to market participants, engineering conglomerate Larsen & Toubro (L&T) raised Rs 1,500 crore through 10-year bonds in December 2024.
DIIs owned equities worth Rs 73.5 trillion, just 1.9 per cent less than FPIs. This marks a significant change from a decade ago.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
The Delhi assembly which held 74 sittings over its five-year term, met for an average of 15 days a year. On the days it met, the assembly sat for an average of three hours.
The 2025 Sony World Photography Awards has announced its National and Regional Award winners, celebrating talent from 56 countries.
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.
Punjab Chief Minister Bhagwant Mann has dismissed speculation about dissent within the Aam Aadmi Party's state unit, asserting that Congress leaders have a history of switching parties while AAP leaders remain dedicated. Mann's remarks came after Punjab Congress leader Partap Singh Bajwa claimed that over 30 AAP MLAs were in touch with his party. Mann, however, dismissed Bajwa's claims, stating that Congress has a culture of switching sides. The meeting follows AAP's defeat in the Delhi Assembly elections, sparking speculation about instability in its Punjab unit. Mann reiterated the unity within AAP, highlighting his government's achievements, including closing 17 toll plazas, stopping multiple pensions for MLAs, and implementing the Delhi model in Punjab. On the promise of financial assistance of Rs 1,000 to women, he said it will be provided in the coming days. Meanwhile, the BJP has also intensified its attack on the AAP, with BJP leader Manjinder Singh Sirsa taking a dig at Kejriwal for holding a meeting with Punjab MLAs despite AAP's defeat in Delhi.
'Younger employees, who tend to have a higher risk appetite, will find NPS advantageous due to the potential gains from equity markets over time.'
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
'By March-end, we should have closure of the PNC portfolio. After completion of PNC acquisition.'
The Aam Aadmi Party (AAP), led by Arvind Kejriwal, suffered a major setback in the Delhi Assembly elections, losing to the Bharatiya Janata Party (BJP). The loss marks a significant blow to Kejriwal's national ambitions and raises questions about the future of the party. The AAP had been in power in Delhi for the past 10 years and had also formed a government in Punjab. Despite the defeat, the party still holds 13 MPs from Punjab and Delhi. The article examines the factors that contributed to the AAP's defeat, including allegations of corruption, poor civic facilities, and the BJP's relentless attacks. It also explores the impact of the loss on Kejriwal's national aspirations and the party's future.
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy or digital tax on overseas e-commerce supplies.
This Women's Day Week, we pay tribute to the extraordinary courage, resilience, and leadership of three iconic Indian queens -- Rani Lakshmibai of Jhansi, Rani Chennamma of Kittur, and Maharani Ahilyabai Holkar of Malwa.
The 'restore old pension' campaign is being spearheaded by the National Movement for Old Pension Scheme (NMOPS), a federation with over 13 lakh government employees as its members.
rediffGURU T S Khurana answers readers' personal income tax queries.
Let's Make Savings As Exciting As Spending. This World Savings Day, rediffGURUS Nitin Narkhede, Milind Vadjikar and Ramalingam Kalirajan are all set to answer your queries on savings and investments.
In sops for the middle class, Finance Minister Nirmala Sitharaman on Tuesday hiked standard deduction by 50 per cent to Rs 75,000 and tweaked tax slabs under the new income tax regime to provide more money in the hands of salaried class with a view to boost consumption. She said salaried employees in the new tax regime could save up to Rs 17,500 in income tax annually following the changes announced in the Budget. The standard deduction for salaried employees is proposed to be increased from Rs 50,000 to Rs 75,000 annually.
The family court awarded her a maintenance of Rs 5,000 per month. The husband them moved the high court over the family court's decision.
The road ahead will require navigating complex financial challenges while fostering job creation and sustainable development in the region.
Though seven opportunities have been granted to the states, it appears that full compliance has not been affected and several states are in default, it said.
Under capital expenditure, Rs 48,614 crore has been set aside for aircraft and aero engines while Rs 24,390 crore has been allocated for the naval fleet.
Senior citizens of 75 years and above having pension income and interest from fixed deposit in the same bank would not be required to file income tax returns for the financial year beginning April 1.
Ahead of the Delhi assembly polls scheduled to be held early next year, state Congress chief Devender Yadav said on Friday that the party will contest on all 70 seats and there would be no alliance.
Rs 111,294 crore has been allocated for army salaries. The Rs 113,278 crore allocated for army pensions surpasses that. Army planners are worried about this drain on funds that could otherwise go towards equipment modernisation.
