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Union Budget 2025 Latest Updates: Catch all the latest developments related to Union Budget 2025 here
India's elevated public debt-to-GDP ratio remains a concern. A reduction in the general fiscal deficit from 8 per cent in FY25 to 7 per cent by FY30 is critical to keeping public debt sustainable
Despite these challenges, revenues for tracked companies are projected to grow 6 per cent year-on-year, primarily driven by price increases, while volume growth will stay in the low single digits
The challenges to inclusion need to be addressed head on with governance changes and higher untied funding with community accountability and ownership
As the Union Budget for fiscal year 2025-26 approaches, the Association of Mutual Funds in India (AMFI) has presented a well-structured 13-point proposal aimed at enhancing the mutual fund industry.
Among other demands is the removal of Section 194R, related to marketing samples, which would ease business operations
Industry body CII in its budget suggestions for 2025-26 has recommended lowering the excise duty on fuel to boost consumption, especially at the lower income level, arguing that fuel prices significantly drive inflation. The budget could also consider reducing marginal tax rates for personal income up to Rs 20 lakh per annum. This would help trigger the virtuous cycle of consumption, higher growth and higher tax revenue, said CII. Asserting that the gap between the highest marginal rate for individuals at 42.74 per cent and the normal Corporate Tax Rate at 25.17 per cent, is high, it said, inflation has reduced the buying power of lower and middle-income earners. "The central excise duty alone accounts for approximately 21 per cent of the retail price for petrol and 18 per cent for diesel. Since May 2022, these duties have not been adjusted in line with the approximately 40 per cent decrease in global crude prices. Lowering excise duty on fuel would help reduce overall inflation and
But record tax revenue is likely to help reduce new bond issuance to 28.6 trillion yen, the lowest since 2008
India's economic growth slowed more sharply than anticipated in the July-September period of FY25, dropping to a seven-quarter low of 5.4 per cent
On Tuesday this week, Prime Minister Narendra Modi also interacted with a panel of distinguished economists and thought leaders at NITI Aayog on the strategies for the Union Budget 2025-26
Job creation, improving farm productivity, and mobilising public funds for infrastructure development were some of the issues that figured during the interaction between Prime Minister Narendra Modi and economists ahead of the 2025-26 Union Budget. The Prime Minister on Tuesday met eminent economists and sectoral experts at NITI Aayog to hear their views and suggestions for the upcoming Budget. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2025-26 in the Lok Sabha on February 1, 2025. According to an official statement, the Prime Minister emphasised that Viksit Bharat can be achieved through a fundamental change in mindset, which is focused towards making India developed by 2047. The participants shared their views on several issues, including navigating challenges posed by global economic uncertainties and geopolitical tensions, strategies to enhance employment particularly among the youth, and create sustainable job opportunities across ...
Emphasising the need for more central funding, Kerala on Friday demanded a special package of Rs 24,000 crore to tide over the state's liquidity stress as well as Rs 2,000 crore for relief works at Wayanad, which was devastated by landslides earlier this year. In a pre-Budget meeting here, Kerala Finance Minister K N Balagopal also sought continuation of the GST (goods and services tax) compensation scheme to states until systemic issues are fully corrected and the original promise of GST revenue is attained. Union Finance Minister Nirmala Sitharaman, finance ministers from other states and senior officials, among others, were present in the meeting. "We reiterate our demand for a special package of Rs 24,000 crore to tide over the current liquidity stress by scheduling it over a period of two years from 2025-26," Balagopal said. Citing that substantial resources are required for relief works in Wayanad, he urged the government to provide a special package of Rs 2,000 crore in the
Finance ministers of states demanded an increase in allocation of 50-year interest free loan, while fiscally stressed states like Punjab and Kerala pitched for a special package and borrowing flexibility, sources said. In a pre-budget meeting with Union Finance Minister Nirmala Sitharaman, states have also urged for higher borrowing limits to support fiscal activities, besides additional funds for Jal Jeevan Mission to arrange for tanks and storage to enhance water supplies. Sources said in the meeting, Maharashtra wanted funds for Mukhyamantri Majhi Ladki Bahin Yojana and demanded that a Centrally Sponsored Scheme (CSS) be launched with the Centre and state sharing 50 per cent of the cost each. The Budget for 2025-26 is slated to be presented in Parliament on February 1, 2025. Finance ministers of all states attended Friday's meeting with Sitharaman here. Several states demanded increase in allocations for the 50 years interest-free loan scheme, sources said, adding they also ...
President-elect Donald Trump delivered a likely death blow to bipartisan congressional budget negotiations on Wednesday, rejecting the measure as full of giveaways to Democrats as billionaire ally Elon Musk whipped up outrage toward the bill and cheered on Republican lawmakers who announced their opposition. Trump's joint statement with Vice President-elect JD Vance, which stopped the bill in its tracks, punctuated a daylong torrent of social media posts by Musk attacking the budget legislation as full of excessive spending. "Kill the Bill!" Musk wrote on his social media platform X as he dangled primary challenges against anyone who voted for the budget deal, a threat Trump later echoed in a post of his own. The episode showcased the growing political influence of Musk, whom Trump has selected alongside entrepreneur Vivek Ramaswamy to spearhead the Department of Government Efficiency, a nongovernmental task force formed to find ways to fire federal workers, cut programmes and slash
President Anura Kumara Dissanayake on Wednesday announced that Sri Lanka has achieved flexibility with the IMF on its rigid state revenue tax regime, something that was part of his election promise. Also, import of private cars -- banned from 2020 -- would be allowed from February 2025, Dissanayake, who is also the Minister of Finance, told the parliament. Speaking about the agreements reached with the International Monetary Fund (IMF) during its third review of the USD 2.9 billion Extended Fund Facility (EFF), the president said his government has been able to raise the tax threshold. We have been able to raise the tax threshold of pay as you earn (PAYE tax) so that those who have bigger incomes pay more while those who earn pay less, Dissanayake said, adding there would be other VAT exemptions and withholding tax on interest incomes for the retired. An income of Rs 1,50,000 per month will be tax free, Dissanayake said referring to the current free amount upto only Rs 1,00,000. F
The ceremony was attended by Deputy Chief Minister Chowna Mein, the Chief Secretary, officers from agri and allied departments and senior ITBP officials. Agriculture Minister Gabriel D Wangsu
State governments have consistently underspent on health and education, trailing the economy's nominal growth. Despite rising demands, priorities remain unchanged, as data reveals concerning trends
While the formal meetings of Finance Minister Nirmala Sitharaman with various stakeholders seeking their wishlist for Budget 2026 is expected to begin next month, the budget-making exercise is gaining
Oil extended its rally, with Brent prices up almost 2 per cent to $74.13 a barrel, on reports that Iran was preparing a retaliatory strike on Israel from Iraqi territory in the coming days
Amid shifting retail dynamics driven by India's quick commerce boom, premium products are moving off shelves faster across all channels