Budget 2024 News

Budget 2025: Govt may cut income tax rates to lift consumption, say report

The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they opt for a 2020 tax system that strips exemptions like housing rentals

Steel ministry urges FinMin to hike Customs duty to counter Chinese threat

The steel ministry believes that a higher import duty, if implemented, could mitigate the adverse effects of a rise in cheaper imports of finished steel, particularly from China

Cotton growers' body seeks Rs 500 cr for drip irrigation in rainfed areas

The association's president, Atul Ganatra said that around 67 per cent of India's cotton is produced in rain-fed areas

Budget wishlist: Hospitals want rise in allocation, better PMJAY rates

According to the Nathealth-Healthcare Federation of India, the sector is pushing for an increase in healthcare spending to 2.5 per cent of the GDP

NATHEALTH asks govt to address gaps in healthcare in upcoming Budget

In its pre-Budget recommendations, NATHEALTH sought increasing budgetary allocations of the healthcare sector to over 2.5 per cent of GDP

Jobs, farm productivity, infra funds figure at PM's meeting with economists

Prime Minister Modi emphasised that Viksit Bharat can be achieved through a fundamental change in mindset, which is focused towards making India developed by 2047

Mid-Year Review: Govt sets focus on public spending, social security net

Targets fiscal deficit 'lower than 4.5% of GDP'

Oil and gas producers call for tax reforms in the upcoming Budget

Seek relief from state levies, Customs duties, pitch for single window clearance system

CII calls for reforms in priority sector lending framework ahead of Budget

The CII pointed out that despite being successful, the PSL framework required recalibration to stay relevant

GST Council to decide on insurance premium tax; major rate rejig unlikely

Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026

Funds devolved to states under 15th Finance Commission higher: FM

In addition to this, the Union finance minister stated that the Centre has created an additional dispensation under SASCI for the states affected by disaster of a severe nature as assessed by the Inte

Kerala seeks Rs 24,000 cr special package to tide over liquidity crunch

Noting that elevated inflation remains a critical hurdle for growth, Balagopal also said the economy faces issues such as slow credit and deposit growth, tightening liquidity conditions, and a weaker

States ask FM for more funds under loan scheme, higher borrowing cap

In the Budget for 2024-25, Sitharaman had hiked the allocations for interest-free loans to states for capital expenditure, enabling states to spend more on infrastructure and specified reforms

Sitharaman to hold pre-Budget talks with state finance ministers on Friday

The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

Pre-Budget meet: MSME stakeholders seek tech upgrade, PLI benefits, GST cut

The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1

Union Budget 2025-26: Economists stress need for manufacturing policy

Call for reining in food inflation and raising investment in pre-Budget talks

Finance minister Sitharaman to begin pre-Budget consultation from Friday

Sitharaman, who will chair these meetings, will seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent in second quarter of the current financial year.

Andhra Pradesh govt presents Rs 2.9 trn budget; see all major allocations

The estimated revenue deficit stands at Rs 34,743 crore (2.12 per cent of the GSDP), while the fiscal deficit is estimated at Rs 68,743 crore (4.19 per cent of the GSDP)

With four months left in FY25, Andhra govt to table Budget on Monday

The budget is expected to be presented with just over four months remaining in the FY 2024-25

Amnesty scheme for customs, easier taxes on India Inc's Budget wishlist

Industry body FICCI sought the introduction of an "amnesty scheme under customs" as a one-time settlement scheme to clear past dues