Budget 2025 News

Govt may introduce one-time amnesty scheme to resolve Customs disputes

The official said around 35,000 customs cases, involving over around Rs 50,000 crore are currently pending across various courts

Days ahead of Union Budget, revenue secy Arunish Chawla shifted to DIPAM

DIPAM secretary Tuhin Kanta Pandey has been appointed as the new revenue secretary in place of Chawla

FinMin meet: MFI representatives seek lowering of asset qualification norms

In 2022, the RBI updated regulations for MFIs, which now apply to all entities in the sector, including banks, small finance banks, and non-banking financial companies (NBFCs)

Capex should be ramped up by 25% over BE: CII President Sanjiv Puri

CII President Sanjiv Puri said that exports are facing headwinds while suggesting measures such as minimum import and anti-dumping duty

Budget 2025: IESA asks govt to tax all new tech batteries at 5% GST

There is a disparity in the tax structure of batteries, GST for lithium-ion batteries is 18%, but other chemistries, like lead acid, sodium, and flow batteries and others, are at 28%

Expect RBI to cut rates next month, Budget must focus on job creation: CII

The Confederation of Indian Industry (CII) chief also expressed optimism that much-needed labour reforms will be taken up by the BJP-led NDA government in the third term

Budget 2025: NRAI seeks industry status, subsidies for food services sector

National Restaurant Association of India (NRAI) said restaurants should be allowed to operate for longer hours, and also sought targeted subsidy schemes and access to debt financing for SMEs

Budget 2025 expectations: Insurers seek GST cut, Section 80D hike, more

Budget 2025: Key demands include reducing GST on premiums, revising tax exemptions under Section 80D, and introducing a health regulator to counter rising medical inflation

Union Budget should reduce personal I-T for lower-income groups: EY India

The Union Budget for 2025-26 is scheduled to be presented in Parliament on February 1

GDP growth cut sets gloomy backdrop to Union Budget, says Congress

Jairam Ramesh said the advance estimates released by the Union government for GDP growth in the 2024-25 financial year projected a mere 6.4 per cent growth

Centre to simplify decades-old income tax filing rules in upcoming Budget

The changes involve simplifying the language and rationalizing information by using formulas and tables, and won't include any adjustments to tax rates and policy, the people said

FinMin to review flagship schemes with PSB chiefs ahead of Budget

The meeting aims to review the progress of various financial inclusion schemes and discuss future funding requirements in light of the upcoming Budget

Budget for outcomes: Governance and financing reforms hold the key

The challenges to inclusion need to be addressed head on with governance changes and higher untied funding with community accountability and ownership

Budget 2025: Gems, jewellery sector urges govt to reduce GST to 1%

The industry apex body said there is a need to introduce a concessional GST rate for lab-grown diamonds to fully recognise their sustainable and cost-effective attributes compared to natural diamonds

As Census looms after years of delay, questions over expenditure persist

Finance Minister Nirmala Sitharaman is also expected to gather up the unspent capex and allocation for the current fiscal to push for a massive spending effort in FY26

45 mn VVPAT slips counted, not a single discrepancy found: CEC Kumar

The CEC also pointed out that any minor errors, such as technical glitches in some of the older machines or mock poll data not being cleared, are handled with precision

Industry leaders seek affordable housing, duty relief at pre-Budget meet

The housing and infrastructure sectors were represented by leaders such as Hiranandani Group, Afcons, L&T, and GMR Group

Trade unions urge FM to prioritise jobs, 8th Pay Commission, MGNREGA boost

The unions further demanded an increase in the income tax exemption rebate limit to Rs 10 lakh per annum and a social security scheme for gig workers

Jobs, growth, demand in focus as FinMin concludes pre-Budget talks

The Union Budget for FY 2025-26 assumes significance as it comes on the back of lower than expected growth numbers in the second quarter and geopolitical uncertainty

Budget 2025: Plastics manufacturers seek PLI to scale up global presence

They have also sought lowering of GST to 5%, from 18%, on the conversion cost of recycled plastic granules, and providing a 20% subsidy to purchase capital equipment for recycling