The big question is whether the finance minister will revert to the fiscal consolidation timelines or medium-term projections as provided under the Fiscal Responsibility and Budget Management Act
Exemptions under review include bulk drugs used in insulin production, raw materials for lab-grown diamonds, plastics used in optical fiber production, and more
Targets fiscal deficit 'lower than 4.5% of GDP'
Seek relief from state levies, Customs duties, pitch for single window clearance system
The Ministry pointed out that revenue receipts in the first half of the year, at almost 52 per cent of Budget Estimates, were above the five-year rolling average
It is also expected that the Union Budget for FY26 may have more measures for MSME financing, with a bigger role for TReDS
The programme is likely to be undertaken by providing VGF to private developers to keep dormitory rentals in check and reduce commuting costs and safety concerns for workers in industrial hubs
Looks to ensure enough financial headroom amid global headwinds
Last week, reports suggested that Irdai is likely to bring in regulations to limit the overdependence of life insurance companies on their parent banks for business sources through bank channels
Stakeholders from the micro, small and medium enterprises (MSME) sought a reduction in GST, technology upgrade, and production-linked incentive scheme benefits for various segments in a pre-Budget meeting with Finance Minister Nirmala Sitharaman on Saturday. The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1. Members from the Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs' Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers' Association (ASIMA); Rajasthan Footwear Manufacturers' Association were among the participants at the meeting. The All-India Plastics Manufacturers' Association; All India Manufacturers' Association; Gujarat Chamber of Small Industries Association; Federation of Associations of Cottage and Small Industries (based in West Bengal); Federation of Andhra Pradesh Small and Medium Association; and Laghu Udyog
The Centre's fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit -- the gap between government's expenditure and revenue -- was at Rs 7,50,824 crore during April-October period, according to data released by the Controller General of Accounts (CGA). The deficit stood at 45 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24. In the Union Budget, the government projected to bring down the fiscal deficit to 4.9 per cent of gross domestic product (GDP) in the current 2024-25 financial year. The deficit was 5.6 per cent of the GDP in 2023-24. In absolute terms, the government aims to contain the fiscal deficit at Rs 16,13,312 crore during the current fiscal. The revenue-expenditure data of the Union government for the first seven months of 2024-25 showed that the net tax revenue was about Rs 13 lakh crore or 50.5 per
Union Finance Minister Nirmala Sitharaman is likely to meet her state counterparts on December 21-22 for pre-budget consultations and meeting of the GST Council, an official said. The meeting assumes significance as states finance ministers would present their recommendations for 2025-26 Budget to be unveiled on February 1, 2025. The 55th GST Council meeting would be held during one of these two days in which the much awaited decision on exemption or lower GST rate on health and life insurance would be taken. The Council may also take up some rationalisation exercise and reduce tax rates on a host of common items from 12 per cent to 5 per cent as per the recommendations of a panel of state ministers. The two-day meeting is slated to take place in Rajasthan, either in Jaisalmer or Jodhpur, the official added. Last month, the group of ministers (GoM) on health and life insurance GST broadly agreed on exempting insurance premiums paid for term life insurance policies, and senior ...
The labour ministry is expediting discussions with various stakeholders about employment-linked incentive (ELI) schemes
Indications were that decision on this would be taken in September
May borrow around Rs 6.3 trillion during the period
Finance Minister Nirmala Sitharaman said that the government is not compelling anyone to switch from the old to the new tax regime
Statement 27-A, a voluntary disclosure of state-owned entities' borrowings, introduced in the Budget for 2024-25, enhances fiscal transparency and signals prudent fiscal management
"A correction was needed in defence stocks as they were overvalued after the Interim Budget amid high expectations from the Budget," said Palka Arora Chopra, director of Master Capital Services
The credit rating agency expects India's GDP to grow by 6.8 per cent for the full fiscal year 2024-25, lower than the 8.2 per cent achieved in 2023-24
Stocks like PC Jeweller, TBZ, Kalyan Jewellers and Senco Gold can potentially rally up to 27% from current levels, suggest technical charts.