The proposals outlined in Budget 2026-27 represent a carefully crafted, multi-year strategy designed to strengthen India's big bets on the path to Viksit Bharat 2047, says Sameer Gupta.
'When I met the prime minister, he asked me, "Dr Ganguly, what do you do with people in your company who lie to you?"' 'I said, "Prime Minister, we counsel them and give them a gentle warning. If they lie again, they are sacked".' '"This is my problem,'" Rajiv responded. "I can't sack people in government".' A revealing excerpt from former Hindustan Lever Chairman Dr Ashok S Ganguly's We Are Our Future: Reflections On Life.
Electric vehicle (EV) penetration in the luxury car segment has seen a drop by nearly 3 percentage points in the GST 2.0 era with the internal combustion engine versions offering better total cost of ownership, according to industry players. While the trend is also visible in the mass market segment, it is the entry luxury segment that is witnessing a more marked shift towards internal combustion engine (ICE) vehicles as price difference between EV and ICE widened under the new GST rates.
The most common mistake is investing without assessing suitability and long-term implications.
India's gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 million, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products.
'The bull market cycle ran for five years. It's the end of that cycle.' 'The next cycle is a down cycle, and in that down cycle, you will see the Sensex falling from their highs of around 68,000 to maybe 40,000-50,000 at the bottom of the cycle.'
'Only four or five original companies remain; the rest have been replaced every decade as sectors evolve or leadership shifts.' 'Companies that fail to adapt -- like many textile mills from the 1970s and shipping firms from the 1980s -- disappear.' 'Benchmark indices reward those who reinvent themselves in line with economic demands.'
Understanding severance pay isn't just for those who are losing their jobs
These changes certainly bring India's GST a lot closer to what an ideal GST would look like, points out Karan Bhasin.
The change in the government's engagement with the economy's need for reforms is more nuanced than how analysts have so far perceived it, points out A K Bhattacharya.
European Union (EU) companies operating in India want New Delhi to streamline or remove non-tariff barriers such as Quality Control Orders (QCOs), complex Customs procedures; simplify labelling, testing, and import procedures; and facilitate cross-border digital transactions without data localisation constraints. These are results of a Business Sentiment Survey, 2025 conducted by the Federation of European Business in India (FEBI) ahead of resumption of negotiations for a free trade agreement (FTA) between both the sides scheduled to be concluded by year-end.
Union Finance Minister Arun Jaitley said the Narendra Modi government does not believe in a high taxation regime but is being pro-business and pro-poor at the same time.
While the new income tax law replaces the Income Tax Act, 1961 and omits 13 offences, 35 actions and omissions continue to attract criminal liability under 13 provisions.
The Minister of State for Commerce and Industry said there was a need of for promoting trade and investment as it is necessary for economic growth and sustainable development.
Grant Thornton Bharat's latest survey indicates that hybrids are set to consolidate market share this festive season, bridging the gap between conventional petrol engines and the emerging electric vehicle segment.
Electric vehicle (EV) manufacturers breathed a sigh of relief after the GST Council on Wednesday night retained the concessional 5 per cent rate on EVs, though they now face competition from small petrol and diesel cars, which will attract a lower 18 per cent levy.
'Amazon, Meta, Google, Microsoft have large operations in India and rely on smooth trade and data flows.' 'Restrictions could raise their costs, limit AI chip exports, and complicate their India strategies.'
Victory wrested from regime that only listens when forced, the TMC said on GST exemption on insurance.
The US remains the largest market for IT outsourcing, and for Indian giants TCS, Infosys and Wipro, it contributes around 40 per cent of their top line.
The government on Wednesday admitted that its existing policies do not induce producers to be innovative in judiciously using resources for producing goods.
Manas Sood, a Class 12 student from the Delhi Public School, has distributed 2,650 boxes of Tax City Education and empowered over 12,000 students from 52 schools across India. His aim? To help young Indians understand taxes and become financially literate.
'The incentives to switch to the new tax regime... are viewed as a negative due to potential loss of customers who buy policies for saving tax.' 'The tax-saving value proposition for the sector reduces.'
The government has identified 50 public-private partnership (PPP) projects worth over Rs 60,000 crore, significantly surpassing the original targets of the National Monetisation Pipeline, said Ports, Shipping, and Waterways Minister Sarbananda Sonowal at the Business Standard Infrastructure Summit on Thursday.
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
Union Minister Nitin Gadkari voiced concerns about increasing poverty and wealth concentration, advocating for wealth decentralization and job creation in rural areas. He also highlighted the need for balanced sectoral contributions to GDP and discussed infrastructure development initiatives.
The government on Monday appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India. The Appointments Committee of the Cabinet cleared Malhotra's name, who has been appointed as the RBI Governor for three years, starting Wednesday. Malhotra, a 1990 Batch Rajasthan Cadre IAS Officer, will replace Shaktikanta Das, whose tenure ends on Tuesday (December 10, 2024).
'The clubbing of policy announcements in the Budget speech creates policy surprises.' 'Economic actors dislike policy surprises because they throw their plans off track,' points out Alok Tiwari.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
Think again. Not filing could cost you. Here's who must file, who should, and why it matters. What's more, the deadline to file your ITR has been extended till September 15, 2025
The 31st meeting of the Goods and Services Tax (GST) Council, held in December 2018, deferred a decision to reduce the GST rate for cement from 28 per cent to 18 per cent. This was despite recognising that cement - along with automobile parts - remained among the few mass-consumption items still taxed at the highest slab, which was originally meant for luxury and sin goods.
In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
High-value insurance policies experienced muted growth in the first six months of the current financial year after the Centre decided to tax such products in this year's Budget. Simultaneously, there has been a marked improvement in the growth of policies with premiums of 'less than Rs 5 lakh', mainly originating from smaller cities. During this year's Budget, Finance Minister Nirmala Sitharaman proposed that insurance policies (excluding unit linked insurance plans or ULIPs) with an aggregate premium exceeding Rs 5 lakh, and the maturity amount, would not be exempt from tax.
Chief Economic Advisor (CEA) V Anantha Nageswaran considers absolute poverty a more direct and pressing concern for India. He argues that inequality is a relative concept. Simultaneously, with formerly economically deprived sections joining the ranks of the middle class, policy attention needs to extend beyond 'roti, kapda, makaan' to keep the growth engine up and running.
Subramanian said the government is also taking various other steps to improve ease of doing business in the country.
A task force set up by the Ministry of Electronics and Information Technology (Meity) for transforming India into an "electronic and semiconductor products" nation is on the verge of finalising its report, which is likely to recommend an allocation of Rs 44,000 crore between 2024 and 2030 to support homegrown companies in their quest to develop products and build global brands. The task force's recommendations include significant incentives: Rs 15,000 crore dedicated to electronic products (systems), Rs 11,000 crore for semiconductor products, and Rs 18,000 crore for various other incentives such as talent development, common infrastructure, logistics, and technology & IP (intellectual property) acquisition, a member of the panel revealed.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
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.
P K Mishra, a retired IAS officer of the Gujarat cadre, is currently serving as the principal secretary to the prime minister.
