Malhotra, a career bureaucrat who took over as the Governor of RBI in Dec, said that Rs 1 trn of tax relief given to middle class to spur consumption will not have any major impact on inflation
A rebate applies after tax is calculated, reducing the final amount payable, much like a discount
Updated On : 06 Feb 2025 | 3:57 PM ISTThe Union Budget 2025 brings notable tax relief, particularly for middle-income earners
Updated On : 05 Feb 2025 | 8:36 PM ISTPost-Budget Investment Opportunities: Focus on Infrastructure, EVs, and Consumer Finance
Updated On : 05 Feb 2025 | 11:02 AM ISTUnion Commerce Minister Piyush Goyal on Saturday said the demand by some states that they should get central funds in proportion to their contribution of taxes to the central kitty was "petty thinking" and "unfortunate." Prime Minister Narendra Modi is of the view that if the country is to prosper, the eight states of the Northeast and eastern Indian states like Bihar, West Bengal, Odisha and Jharkhand must develop, he said. The BJP leader was speaking at the 'Rashtriya Ekatmata Yatra 2025', an event organised here by the Akhil Bharatiya Vidyarthi Parishad (ABVP) and the 'Students Experience in Inter-State Living (SEIL)' initiative. In the last 11 years, the Modi government's "laser focus", like that of Arjuna of the Mahabharata, was on the Northeast and eastern states, the minister added. "It is unfortunate that some states and some leaders...I don't want to politicise it but some leaders from Maharashtra used to say....leaders of the earlier government which was there for two and
The decision by India's central bank on Friday to reduce its key rate for the first time in five years comes less than a week after Modi's government unveiled historic tax cuts in its federal budget
With over 60 per cent of Delhi's electorate belonging to the middle-class, the Budget announcement of an increased income tax rebate threshold to Rs 12 lakh may just have won BJP the election
Union minister Jyotiraditya Scindia on Saturday said the Modi government has spent Rs 11 lakh crore on infrastructure development in the last one year, while the Congress-led UPA dispensation used to spend only Rs 2 lakh crore on this front annually. Addressing a press conference to highlight various provisions made in the recently-presented Union Budget, he said the budget will make India self-reliant and aims to establish it as a 'Vishwaguru' (world leader) by 2047. "Prime Minister Narendra Modi has always said that he considers poor, farmers, women and youth as the only four castes in our country, and this budget focuses on these four categories," he said. "In the last one year, Rs 11 lakh crore have been spent on infrastructure. The UPA used to spend only Rs 2 lakh crore on this front," the Minister of Communications said. According to him, railway lines of 2,031 km were laid and 6,000 km-long national highways were constructed in the past one year. In the telecom sector, ...
Thus far in February 2025, the stock surged 15% after the company registered a 10.5% YoY growth in exports in January 2025 on the back of stable demand for its products in the overseas markets.
Wondering if it was enough if Tamil Nadu remained only on India map but not figure in the Union Budget, Chief Minister M K Stalin on Friday slammed the Centre with his halwa' jibe, a Tamil expression of the sweet delicacy to mean deception. During his visit to this southern district, the Chief Minister said Tirunelveli was known for its world famous sweet: halwa. But the Centre's halwa being given to the states is all the more famous, Stalin said strongly criticising the BJP-led government for allegedly not allocating funds to the Tamil Nadu. Speaking at a state government event here, he said the December 2023 unprecedented rain ravaged Tirunelveli, Tenkasi, Kanyakumari and Thoothukudi districts. Though two Central Ministers visited the flood-hit areas, they didn't facilitate any relief to Tamil Nadu, he claimed. Pointing to the BJP legislator Nainar Nagendran, Stalin said he should not get offended if he (CM) faulted the Centre on fund allocation. Nainar Nagendran knows everything
The gross fiscal deficit (GFD) target for 2025-26 has been budgeted at 4.4 per cent, a tad better than the 4.5 per cent target set out in 2021
Parliament Budget Session: Catch all the Parliament updates here
PM Modi, in Rajya Sabha, slams Congress for prioritising family over nation, criticises its appeasement politics, and highlights his government's focus on development and OBC rights
The government's prudent fiscal management may soften government securities yields and leave more funds for corporates to invest in the economy, DEA Secretary Ajay Seth has said. In absolute terms, he said, "we will be borrowing (for FY26) less than what we intend to borrow in the current year. Even the gross borrowings are also marginally more than what it was, signalling that the government will leave enough into the market for the private sector to pick up". The government has reduced its borrowings estimate for next financial year to Rs 11.54 lakh crore on net basis as it expects an improvement in tax collection. However, gross market borrowings have now been revised upward to Rs 14.82 lakh crore from Rs 14.01 lakh crore estimated for the current financial year. The government has to borrow by issuing dated securities to meet its fiscal deficit target. "So, I see that the fiscal consolidation this year and fiscal consolidation road map next year should rather soften the ...
With the Budgetary outlay for UPI transactions cut by 78 per cent, industry insiders wonder if transaction fees are likely to be introduced
Uncertainty surrounding newly elected US government's trade policies led to massive selling by FIIs of Rs 780.3 billion, leading to a further fall in market.
Shares of Restaurant Brands Asia, Westlife Foodworld, Sapphire Foods India, Jubilant Foodworks and Devyani International can rally up to 15% from present levels, suggest technical charts.
Fitch Ratings said that the budget will be broadly neutral for growth and continued to project real GDP expansion of 6.4 per cent in FY25 and 6.5 per cent in FY26
Hopes tax benefits in Budget 2025 will spur consumption, sales
Finance Secretary Tuhin Kanta Pandey on Tuesday said the government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and hoped that the RBI's monetary policy will work in tandem with fiscal policy to support growth. He also said that although rupee depreciation increases inflation on imported inputs, it also adds to export competitiveness. Pandey said that the government has bettered its fiscal deficit projections for the current fiscal as well as the next. The fiscal deficit for FY'25 has been pegged lower at 4.8 per cent of GDP, lower than budgeted 4.9 per cent, while for FY'26 the deficit is projected to be 4.4 per cent, lower than what was given in the consolidation roadmap. "It is very important to be very clear that we (government) have to remain within a certain fiscal regime. We have, to that extent, aided the monetary authorities to say that if they (RBI) have to do what they have to do, we are supportive. The fiscal policy and monetary ..