The Indian government held steady on sin taxes for tobacco in the latest budget. Cigarette taxes remained ...More

The Indian government held steady on sin taxes for tobacco in the latest budget. Cigarette taxes remained unchanged. A proposed 35% GST on sin goods like tobacco and aerated drinks is under consideration. This could hike prices. India's tobacco taxes are below the WHO's recommended 75% of retail price. ...Less

Punjab has requested Rs 1,000 crore from the Centre to bolster border security and police infrastructure. ...More

Punjab has requested Rs 1,000 crore from the Centre to bolster border security and police infrastructure. The state also sought industrial incentives, restoration of NABARD's ST-SAO limit, and funds for road connectivity, a new Vande Bharat train, crop residue management, and paddy diversification. Additional requests included increased funding for rural housing, the National Health Mission, and urban transportation. ...Less

Finance Minister Nirmala Sitharaman held a pre-Budget meeting with Micro, Small, and Medium Enterprises ( ...More

Finance Minister Nirmala Sitharaman held a pre-Budget meeting with Micro, Small, and Medium Enterprises (MSME) representatives to gather inputs for the 2025-26 Budget. The meeting included various industry associations and government officials. This is Sitharaman's third pre-Budget consultation, following meetings with economists and agricultural stakeholders. The budget is expected to be presented on February 1. ...Less

Finance Minister Nirmala Sitharaman expressed optimism about India's economic growth, downplaying the rec ...More

Finance Minister Nirmala Sitharaman expressed optimism about India's economic growth, downplaying the recent 5.4% dip as a "temporary blip." She highlighted the 8.3% average annual growth over the past three years and robust performance in several manufacturing segments. Sitharaman also emphasized the NDA's superior inflation management compared to previous administrations. ...Less

India's government is reviewing the windfall tax on local crude oil. The tax was introduced in July 2022 ...More

India's government is reviewing the windfall tax on local crude oil. The tax was introduced in July 2022 after global crude prices surged. It was reduced to zero in September. Officials are analyzing tax collections and crude price trends. They may remove the tax completely. The government wants to ensure fair pricing for consumers and producers. ...Less

Finance Minister Nirmala Sitharaman criticized the Congress party for amending the Constitution to benefi ...More

Finance Minister Nirmala Sitharaman criticized the Congress party for amending the Constitution to benefit their dynasty and for not passing the Women's Reservation Bill. She highlighted Congress's economic policies and suppression of free speech, contrasting them with the BJP's commitment to women's empowerment and the enduring strength of India's Constitution. ...Less

RBI Governor Shaktikanta Das met with Finance Minister Nirmala Sitharaman days before his term ends on De ...More

RBI Governor Shaktikanta Das met with Finance Minister Nirmala Sitharaman days before his term ends on December 10. The meeting fueled speculation about a possible extension, which would make Das the longest-serving governor since 1957. No official announcement has been made regarding his future tenure. ...Less

India's finance minister called for global peace and dialogue. She highlighted the economic impact of con ...More

India's finance minister called for global peace and dialogue. She highlighted the economic impact of conflicts. Supply chain disruptions and inflation are key concerns. Sitharaman emphasized aligning economic and political strategies. She advocated for supporting both large and small businesses. This approach promotes inclusive growth and job creation. The minister also addressed climate change and its impact on vulnerable populations. ...Less

Nirmala Sitharaman during heated discussion in Lok Sabha on Banking Laws (Amendment) Bill, 2024 said that ...More

Nirmala Sitharaman during heated discussion in Lok Sabha on Banking Laws (Amendment) Bill, 2024 said that she was mocked in the streets of Tamil Nadu for wanting to learn Hindi. ...Less

Finance Minister Nirmala Sitharaman addressed the CII Global Economic Policy Forum, highlighting inflatio ...More

Finance Minister Nirmala Sitharaman addressed the CII Global Economic Policy Forum, highlighting inflation as a global challenge requiring collective action. While India's retail inflation likely eased in November due to moderating vegetable prices, the RBI maintained steady interest rates, citing price pressures and downgraded growth forecasts. Wholesale inflation also showed signs of decline. ...Less

Punjab and Kerala have sought special financial packages during pre-Budget consultations with Finance Min ...More

Punjab and Kerala have sought special financial packages during pre-Budget consultations with Finance Minister Nirmala Sitharaman. States also requested increased borrowing limits, higher allocation for interest-free loans, and greater flexibility in capital investment schemes. Several state representatives attended the meeting alongside finance ministry officials, ahead of the GST Council meeting in Jaisalmer. ...Less

Finance minister Nirmala Sitharaman emphasizes the importance of a stable banking sector. The Banking Law ...More

Finance minister Nirmala Sitharaman emphasizes the importance of a stable banking sector. The Banking Laws (amendment) Bill, 2024 allows up to four nominees per account and improves governance. The bill aims to protect investor interests and enhance customer convenience. The Lok Sabha has passed the bill by voice vote, ensuring the sector's stability and profitability. ...Less

Budget 2025: The CII has recommended changes to India's lending policy for the 2025 budget. They want a r ...More

Budget 2025: The CII has recommended changes to India's lending policy for the 2025 budget. They want a review every 3-4 years. CII suggests including green energy and digital infrastructure. They also propose a bigger role for specialized financial institutions. This aims to support India's economic growth and innovation goals. ...Less

Prime Minister Narendra Modi plans to consult with economists regarding the first budget of his third ter ...More

Prime Minister Narendra Modi plans to consult with economists regarding the first budget of his third term amid concerns about economic slowdown and weak consumption. This session is crucial given India's reduced growth projections and the imminent US policy changes under Donald Trump's administration. ...Less

The GST Council will track cigarettes and pan masala to stop tax evasion. A unique code will be placed on ...More

The GST Council will track cigarettes and pan masala to stop tax evasion. A unique code will be placed on products. This will help the government follow the products. The government loses lots of money from illegal cigarette sales. This new system will help recover that money. Similar systems are used in other countries. ...Less

With Union Budget 2025 around the corner, experts are voicing what they would want from FM Sitharaman in ...More

With Union Budget 2025 around the corner, experts are voicing what they would want from FM Sitharaman in February next year. Some proposals include enhancing the appeal of NPS as a retirement planning vehicle, reducing TCS on foreign remittances, and tax reliefs for annuity, crypto, and term insurance. Read on to know what India expects from Budget 2025 ...Less

Karnataka Revenue Minister Krishna Byre Gowda advocated for a Constitutional amendment to raise the profe ...More

Karnataka Revenue Minister Krishna Byre Gowda advocated for a Constitutional amendment to raise the professional tax cap. Gowda highlighted the tax's stagnation amidst inflation, emphasizing its diminished value. He and other states proposed increasing the current Rs. 2,500 annual limit to Rs. 6,000, citing decades of economic growth. ...Less

Finance Minister Nirmala Sitharaman announced the recovery of Rs 22,280 crore in assets from economic off ...More

Finance Minister Nirmala Sitharaman announced the recovery of Rs 22,280 crore in assets from economic offenders, including Vijay Mallya and Nirav Modi. Recovered funds have been returned to affected banks and investors. Sitharaman emphasized the government's continued pursuit of offenders, even those who have fled the country. ...Less

States will receive interest-free 50-year loans for disaster-related programs, including infrastructure r ...More

States will receive interest-free 50-year loans for disaster-related programs, including infrastructure rebuilding and mitigation measures. An additional ?5,000 cr incentive will encourage urban planning. The Scheme for Special Assistance to States for Capital Investment (SASCI) will provide up to 100% additional funding for eligible states, prioritizing disaster-affected districts and future catastrophe mitigation. ...Less

The GST Council approved a 'Track and Trace Mechanism' for evasion-prone goods, using unique identificati ...More

The GST Council approved a 'Track and Trace Mechanism' for evasion-prone goods, using unique identification markings. Rate cuts were announced on fortified rice kernels and gene therapy, while contributions to the Motor Vehicle Accident Fund and voucher transactions are now GST-exempt. Clarifications were issued on pre-packaged goods and penal charges by banks. ...Less

Politicians are increasingly using clothing to project carefully crafted images. From Kejriwal's 'common ...More

Politicians are increasingly using clothing to project carefully crafted images. From Kejriwal's 'common man' sweater to Priyanka Gandhi's statement tote bags, attire is now a potent political tool. Global figures like Modi, Thatcher and even Trump utilise wardrobe choices to convey power, relatability, or ideology. ...Less

The GST Council lowered the compensation cess rate for merchant exporters to 0.1% and reduced the tax on ...More

The GST Council lowered the compensation cess rate for merchant exporters to 0.1% and reduced the tax on fortified rice kernels to 5%. The exemption for missile parts was extended. Clarification was issued on popcorn taxation, with pre-packed, ready-to-eat varieties at 12% and caramelized versions at 18%. ...Less

The GST Council postponed a decision on lowering GST rates for life and health insurance premiums during ...More

The GST Council postponed a decision on lowering GST rates for life and health insurance premiums during its 55th meeting. The Group of Ministers (GoM) will reconvene in January to address technicalities concerning the taxation of various insurance policies. A proposal to exempt certain premiums from GST was discussed, but a final decision is pending further consultations. ...Less

The GST council met on Saturday. It decided to not tax gift vouchers. Used cars purchased by businesses w ...More

The GST council met on Saturday. It decided to not tax gift vouchers. Used cars purchased by businesses will face an 18% tax. This includes electric vehicles. The tax on fortified rice kernels is reduced to 5%. A decision on insurance product tax rates is postponed. The council clarified tax rates for different types of popcorn. ...Less

Customs officials at Mumbai's CSMI Airport seized over 2 kg of smuggled gold worth ?1.48 crore in two sep ...More

Customs officials at Mumbai's CSMI Airport seized over 2 kg of smuggled gold worth ?1.48 crore in two separate incidents. One passenger concealed gold dust within their body cavity, while an airport staff member was caught with gold received from a transit passenger. Finance Minister Nirmala Sitharaman praised the officials' vigilance. Both individuals were arrested, and investigations are ongoing. ...Less

Addressing the legislative party meeting, Sitharaman said, "I congratulate all elected MLAs. I congratula ...More

Addressing the legislative party meeting, Sitharaman said, "I congratulate all elected MLAs. I congratulate Devendra Fadnavis to being elected as the leader of the legislative party. The mandate of 14 crore voters in this election is a message for whole India. This was not just a regular assembly election. After Lok Sabha elections, the citizens of the country have given a clear mandate through Haryana elections and then Maharashtra elections. Unexpected and unprecedented victory in Maharashtra is a big message towards the Vikshit Bharat." ...Less

Finance Minister Nirmala Sitharaman, during a Rajya Sabha debate on the Constitution, highlighted its res ...More

Finance Minister Nirmala Sitharaman, during a Rajya Sabha debate on the Constitution, highlighted its resilience compared to other post-World War II constitutions. She criticised Congress for allegedly suppressing free speech, citing the 1951 amendment as an example of Nehru's government curbing freedoms for partisan gain. ...Less

Finance Minister Nirmala Sitharaman announced increased devolution of funds to states under the 15th Fina ...More

Finance Minister Nirmala Sitharaman announced increased devolution of funds to states under the 15th Finance Commission, exceeding the previous commission's allocation. She highlighted the Scheme for Special Assistance to States for Capital Investment, with increased 'Untied Funds' and additional support for disaster-affected states' infrastructure reconstruction, supplementing NDRMF funds. ...Less

Indian real estate developers are worried. A proposed 18% GST on floor space index could increase housing ...More

Indian real estate developers are worried. A proposed 18% GST on floor space index could increase housing prices. The developers' body, CREDAI, warns of a 7-10% price hike. This impacts affordability and the 'Housing for All' mission. CREDAI says the tax will hurt both supply and demand. A GST council meeting will discuss the issue. ...Less

India's economy, once burdened by a "Four Balance Sheet Challenge" involving banks, infrastructure compan ...More

India's economy, once burdened by a "Four Balance Sheet Challenge" involving banks, infrastructure companies, NBFCs, and real estate firms, has seen a remarkable turnaround. The initial "Twin Balance Sheet Problem" stemming from stressed bank loans and struggling infrastructure projects expanded to include the NBFC and real estate sectors. ...Less

Shares of aviation companies such as InterGlobe Aviation (IndiGo) and SpiceJet are expected to remain in ...More

Shares of aviation companies such as InterGlobe Aviation (IndiGo) and SpiceJet are expected to remain in focus today, as the government may discuss bringing aviation turbine fuel (ATF) under the Goods and Services Tax (GST) regime at the 55th GST Council meeting. This move, if implemented, could have a significant impact on the aviation sector. ...Less

Vijay Mallya claims banks have recovered over double the Rs 6,203 crore debt adjudicated by the Debt Reco ...More

Vijay Mallya claims banks have recovered over double the Rs 6,203 crore debt adjudicated by the Debt Recovery Tribunal, including interest. He asserts he's entitled to relief and will pursue it. Finance Minister Nirmala Sitharaman highlighted the recovery of Mallya's assets, totaling Rs 14,131.6 crores, and other economic offenders' assets, emphasizing the government's commitment to pursuing such cases. ...Less

Union Budget: India's November trade deficit surged to a record $37.84 billion, impacting the rupee's val ...More

Union Budget: India's November trade deficit surged to a record $37.84 billion, impacting the rupee's value. The widening deficit, coupled with a global slowdown and robust import demand, is projected to expand the current account deficit. The government is exploring measures like free trade agreements and export incentives to alleviate the pressure. ...Less

Finance Minister Nirmala Sitharaman will begin pre-Budget consultations with various stakeholders startin ...More

Finance Minister Nirmala Sitharaman will begin pre-Budget consultations with various stakeholders starting on Friday. She will meet economists and other groups across sectors until December 30. These consultations are for the Union Budget 2025-26, which will be tabled on February 1. This Budget aims to provide policy direction for achieving the goal of a developed India by 2047. ...Less

India's public debt, a mix of internal and external borrowing, is used to fund developmental projects whe ...More

India's public debt, a mix of internal and external borrowing, is used to fund developmental projects when government revenue falls short. The debt-to-GDP ratio, a key indicator of economic health, decreased to 18.7% in March 2025. The government continues efforts to manage this ratio, aiming for a target of 60% as recommended by the NK Singh Committee. ...Less

Finance Minister Nirmala Sitharaman revealed that 12,803 GST evasion cases were booked in Gujarat from 20 ...More

Finance Minister Nirmala Sitharaman revealed that 12,803 GST evasion cases were booked in Gujarat from 2021-2024, with 101 arrests. In a related update, Minister Pankaj Chaudhary provided GST collection details, noting a significant rise in gross revenues and issued refunds over the past five financial years, with current fiscal collections reaching Rs 12.74 lakh crore. ...Less

Andhra CM Chandrababu Naidu navigated a political tightrope, balancing ally Pawan Kalyan's request and hi ...More

Andhra CM Chandrababu Naidu navigated a political tightrope, balancing ally Pawan Kalyan's request and his son's preference for a Rajya Sabha seat. Naidu appointed Kalyan's brother, Naga Babu, to the Cabinet, solidifying the Jana Sena party's Kapu image. Meanwhile, in the Rajya Sabha, both Kharge and Sitharaman coincidentally spoke for precisely 79 minutes during the Constitution debate. ...Less

Finance Minister Nirmala Sitharaman addressed the Lok Sabha, attributing the lower-than-projected 5.4% Q2 ...More

Finance Minister Nirmala Sitharaman addressed the Lok Sabha, attributing the lower-than-projected 5.4% Q2 GDP growth to a temporary setback. She emphasized India's sustained growth, averaging 8.3% over the past three years, and highlighted ongoing efforts to stimulate the economy through capital expenditure. Sitharaman expressed confidence in healthy growth in upcoming quarters. ...Less

India's Union Budget, a yearly spectacle, has a rich history. From James Wilson's 1860 presentation to Ni ...More

India's Union Budget, a yearly spectacle, has a rich history. From James Wilson's 1860 presentation to Nirmala Sitharaman's upcoming eighth budget, it reflects evolving economic landscapes. Sitharaman's record-breaking speeches, alongside landmark budgets like Manmohan Singh's 1991 liberalization and Chidambaram's 1997 'Dream Budget,' have shaped India's financial trajectory. ...Less

India's annual budget is a major financial plan. It outlines the government's expected spending and incom ...More

India's annual budget is a major financial plan. It outlines the government's expected spending and income. The budget-making process involves many groups. It considers public welfare, defense, and salaries. Taxes and borrowing fund government programs. A good budget predicts costs carefully. It also adapts to changes. The budget aims for efficient use of resources. ...Less

Finance Minister Nirmala Sitharaman initiated the Constitution debate in Rajya Sabha. She accused Congres ...More

Finance Minister Nirmala Sitharaman initiated the Constitution debate in Rajya Sabha. She accused Congress of amending the Constitution to curb freedoms. Sitharaman cited the First Amendment as an example of restricting free speech. She highlighted Congress's efforts to undermine the judiciary. The minister called for a critical evaluation of past constitutional amendments. ...Less

A Rajya Sabha debate on the Constitution's 75th anniversary saw the ruling party highlighting the Emergen ...More

A Rajya Sabha debate on the Constitution's 75th anniversary saw the ruling party highlighting the Emergency's excesses and Article 370's abrogation, while the opposition raised concerns about minorities' rights, toppled governments, and gubernatorial misuse under NDA rule. The debate included discussions of historical events, communal violence, and the role of governors. ...Less

On Saturday, farmers' associations and other stakeholders in the agriculture sector presented a range of ...More

On Saturday, farmers' associations and other stakeholders in the agriculture sector presented a range of proposals to the government. These included increasing the PM-Kisan income support to ?12,000 per year, revising the minimum support price (MSP) system, offering more affordable long-term credit, and reducing taxes. ...Less

The Banking Laws (Amendment) Bill, 2024, aims to enhance governance and customer convenience in the banki ...More

The Banking Laws (Amendment) Bill, 2024, aims to enhance governance and customer convenience in the banking sector. It proposes amendments to several banking laws, allowing up to four nominees per account, and transferring unclaimed dividends to the IEPF. The bill also seeks to improve audit quality, redefine 'substantial interest,' and adjust the tenure of directors in cooperative banks. ...Less

The Indian government borrows money by issuing securities to fund expenses when tax revenues fall short. ...More

The Indian government borrows money by issuing securities to fund expenses when tax revenues fall short. This borrowing, a part of the fiscal deficit, is managed by the Finance Ministry and RBI, with a bi-annual borrowing schedule revealed in the Union Budget. Increased borrowing leads to higher interest payments, impacting budgetary goals. ...Less

India's Union Budget 2025 approaches, spotlighting strategic disinvestment. This policy, distinct from re ...More

India's Union Budget 2025 approaches, spotlighting strategic disinvestment. This policy, distinct from regular disinvestment, involves selling majority stakes and management of Central Public Sector Enterprises (CPSEs) to private entities. The government aims to leverage these sales for social programs while fostering growth and innovation through private sector involvement. ...Less

India's Finance Minister will present the FY26 budget on February 1, 2025. The term stagflation, describi ...More

India's Finance Minister will present the FY26 budget on February 1, 2025. The term stagflation, describing simultaneous stagnant growth and high inflation, is important to understand. Former Prime Minister Manmohan Singh warned of potential stagflation in India. The 1970s US oil crisis offers a historical example. India's current economic slowdown poses a challenge to its growth goals. ...Less

Finance Minister Nirmala Sitharaman is preparing to present her eighth Union Budget, joining a select gro ...More

Finance Minister Nirmala Sitharaman is preparing to present her eighth Union Budget, joining a select group of ministers. The budget process, starting months in advance, involves consultations and meticulous reviews. Since 2017, the budget has been presented on February 1st, and from 2021, it has adopted a paperless format. ...Less

India's Finance Minister, Nirmala Sitharaman, is set to present the FY26 budget amidst concerns of a pote ...More

India's Finance Minister, Nirmala Sitharaman, is set to present the FY26 budget amidst concerns of a potential 'growth recession.' This economic phenomenon, coined by Solomon Fabricant, describes slow growth coupled with job losses. While not as severe as a full recession, it presents challenges like reduced consumer spending and unemployment. ...Less

Sri Lankan President Anura Kumara Dissanayake met with Indian officials, including Finance Minister Nirma ...More

Sri Lankan President Anura Kumara Dissanayake met with Indian officials, including Finance Minister Nirmala Sitharaman and External Affairs Minister S. Jaishankar, during his first state visit to India. Discussions focused on strengthening economic cooperation, investment opportunities, regional security, and key sectors like tourism and energy. Dissanayake's visit aims to deepen the partnership between the two nations. ...Less

The Rajya Sabha is scheduled for a two-day discussion on 75 years of the Indian Constitution, commencing ...More

The Rajya Sabha is scheduled for a two-day discussion on 75 years of the Indian Constitution, commencing Monday. Finance Minister Nirmala Sitharaman will initiate the debate, while Environment Minister Bhupender Yadav will conclude it on Tuesday. ...Less

Finance Minister Nirmala Sitharaman urged a reimagining of economic systems, advocating for India as a re ...More

Finance Minister Nirmala Sitharaman urged a reimagining of economic systems, advocating for India as a responsible capitalist nation. She emphasized India's distinct approach, contrasting it with nations that engage in exploitation for economic gain. Sitharaman highlighted India's commitment to sustainability and proposed a 'Bharat FDA' for pharmaceuticals to ensure high-quality products. ...Less

As part of its FinMin Year Review 2024 initiative, the Finance Ministry in a social media post on X, stat ...More

As part of its FinMin Year Review 2024 initiative, the Finance Ministry in a social media post on X, stated that DBT through Public Financial Management System (PFMS) supports Digital India by enabling electronic payment and receipt for Ministries and Departments in both Centre and States. ...Less

Union Finance Minister Nirmala Sitharaman is set to move the Banking Laws (Amendment) Bill, 2024, in Lok ...More

Union Finance Minister Nirmala Sitharaman is set to move the Banking Laws (Amendment) Bill, 2024, in Lok Sabha, targeting amendments to major banking acts. Additionally, bills related to railways, coastal shipping, petroleum, and civil aviation will be presented by various union ministers in both houses of Parliament. ...Less

The Economic Survey for FY 2025-26, focusing on deregulation, will be presented before the Union Budget o ...More

The Economic Survey for FY 2025-26, focusing on deregulation, will be presented before the Union Budget on February 1, 2025. Prepared by the Department of Economic Affairs, the survey reviews the previous financial year's economic performance, covering GDP growth, inflation, and social sector issues. This annual report, separated from the Budget since 1964, provides key economic insights. ...Less

Finance Minister Nirmala Sitharaman urged women to avail central schemes for empowerment, highlighting fi ...More

Finance Minister Nirmala Sitharaman urged women to avail central schemes for empowerment, highlighting financial assistance initiatives by banks for every Self Help Group in Bihar. She stressed the crucial role of women in India's development by 2047, with the government's focus on the poor, women, youths, and farmers. ...Less

French economist Thomas Piketty urged India to increase taxes on its super-rich, citing rising inequality ...More

French economist Thomas Piketty urged India to increase taxes on its super-rich, citing rising inequality. He proposed a wealth tax and inheritance tax, potentially generating significant revenue. India's chief economic adviser opposed the idea, while recent data revealed substantial growth in billionaire wealth. ...Less

Union Finance Minister Nirmala Sitharaman emphasized that women will lead India's economic growth, aiding ...More

Union Finance Minister Nirmala Sitharaman emphasized that women will lead India's economic growth, aiding the country's goal to become the world's third largest economy. Speaking at a credit outreach event, she highlighted various initiatives empowering women. Additionally, she attended a review meeting in Patna, discussing advancements in Regional Rural Banks and Centre's flagship schemes. ...Less

India, Iran, and Armenia held trilateral talks in New Delhi to boost the International North-South Transp ...More

India, Iran, and Armenia held trilateral talks in New Delhi to boost the International North-South Transport Corridor (INSTC) and Chabahar Port's role. Armenia discussed its "Crossroads of Peace" connectivity plan. The nations aim to enhance trade, tourism, and cultural ties. Armenia recently advanced its INSTC membership, seeking a shorter trade route with Russia and Europe. ...Less

Finance Minister Nirmala Sitharaman states Indian banks are healthy and professionally managed, crediting ...More

Finance Minister Nirmala Sitharaman states Indian banks are healthy and professionally managed, crediting the Reserve Bank and Finance Ministry. She highlights significant expansion in bank branches since 2014 and emphasizes women's empowerment through Mudra and Swanidhi loans. The rise in rural and semi-urban branches and digital banking facilities showcases banking system progress. ...Less

Finance Minister Nirmala Sitharaman countered Rahul Gandhi's accusations of government misuse of public s ...More

Finance Minister Nirmala Sitharaman countered Rahul Gandhi's accusations of government misuse of public sector banks. She attributed the bad loan crisis to the UPA's lending practices, highlighting the Modi government's efforts to revive banks through recapitalization and reforms, focusing on lending to small businesses and MSMEs. ...Less

Finance Minister Nirmala Sitharaman defended public sector banks against Rahul Gandhi's criticism, highli ...More

Finance Minister Nirmala Sitharaman defended public sector banks against Rahul Gandhi's criticism, highlighting their improved health and employee-friendly measures under the Modi government. She cited increased recruitment, the 12th Bipartite Settlement, and new leave provisions for women employees as evidence of positive change, contrasting it with alleged "phone banking" practices during the UPA tenure. ...Less

Economists advised the Indian government on the upcoming 2025-26 budget, suggesting an industrial policy ...More

Economists advised the Indian government on the upcoming 2025-26 budget, suggesting an industrial policy to boost manufacturing and potential relaxation of fiscal consolidation targets. They also proposed measures to control food inflation, address climate change, and stimulate investment, including personal income tax cuts to boost consumption. ...Less

The Indian government is considering revising the inverted duty structure for certain products, including ...More

The Indian government is considering revising the inverted duty structure for certain products, including aluminium, in the upcoming budget. The aim is to boost domestic manufacturing by reducing import duties on raw materials like petroleum coke and aluminium fluoride, while increasing duties on finished aluminium products. The industry hopes these changes will address the cost disadvantages faced by domestic manufacturers. ...Less

Sanjay Malhotra's appointment as RBI Governor signals a potential rate cut in February, contrasting with ...More

Sanjay Malhotra's appointment as RBI Governor signals a potential rate cut in February, contrasting with outgoing Governor Das's stance. Analysts believe Malhotra's monetary policy will be more accommodative, prioritizing growth amid government pressure for countercyclical measures. Malhotra's views remain largely unknown, but his background suggests a focus on technology and straightforward communication. ...Less

Revenue Secretary Sanjay Malhotra's unexpected transfer to the RBI just weeks before the Union Budget pre ...More

Revenue Secretary Sanjay Malhotra's unexpected transfer to the RBI just weeks before the Union Budget presentation has left a crucial vacancy in the Finance Ministry. With several new secretaries facing their first budget, the government's choice of Malhotra's successor is critical for navigating the complexities of budget preparation and ensuring a cohesive fiscal roadmap. ...Less

PM Modi launched the Bima Sakhi Yojana. The scheme aims to train 200,000 women as LIC agents. 25,000 wome ...More

PM Modi launched the Bima Sakhi Yojana. The scheme aims to train 200,000 women as LIC agents. 25,000 women were appointed at the launch. Eligible women will receive a monthly stipend. The goal is to increase insurance penetration in India. The scheme empowers women and contributes to the developed India vision. ...Less

Finance Minister Nirmala Sitharaman inaugurated a dividend distribution program for Self-Help Groups (SHG ...More

Finance Minister Nirmala Sitharaman inaugurated a dividend distribution program for Self-Help Groups (SHGs) under the Sri Kshetra Dharmasthala Rural Development Project (SKDRDP). Sitharaman emphasized the shift in welfare approach, focusing on empowerment and recognizing the market potential of products created by beneficiaries. ...Less

India is gearing up to launch a substantial Rs 1 lakh crore fund aimed at boosting private sector researc ...More

India is gearing up to launch a substantial Rs 1 lakh crore fund aimed at boosting private sector research and development. Economic Affairs Secretary Ajay Seth indicated the government's commitment to operationalise the fund within the next few months. This initiative comes as a response to the stagnant R&D investment from the private sector despite tax incentives. ...Less

Finance Minister Nirmala Sitharaman downplayed the recent economic slowdown, attributing it to the electi ...More

Finance Minister Nirmala Sitharaman downplayed the recent economic slowdown, attributing it to the election cycle's impact on spending. She expressed confidence in a third-quarter rebound and reaffirmed India's projected status as the fastest-growing major economy. Sitharaman also acknowledged concerns about wage stagnation and plateauing global demand while highlighting emerging opportunities for India. ...Less

Economists, in a pre-budget meeting with Finance Minister Nirmala Sitharaman, advocated for a comprehensi ...More

Economists, in a pre-budget meeting with Finance Minister Nirmala Sitharaman, advocated for a comprehensive manufacturing policy, further private investment incentives, and measures to boost agricultural growth and manage inflation. They also suggested exploring additional green energy sources and enhancing farm produce storage. ...Less

Assam Chief Minister Himanta Biswa Sarma invited Union Ministers Nirmala Sitharaman and Sarbananda Sonowa ...More

Assam Chief Minister Himanta Biswa Sarma invited Union Ministers Nirmala Sitharaman and Sarbananda Sonowal to the Advantage Assam Summit 2.0 in Guwahati next February. Sarma discussed ongoing Assam-related efforts with Sonowal. The Chief Minister's Delhi visit included meetings with the Prime Minister and other central ministers, yielding positive outcomes. ...Less

Finance Minister Nirmala Sitharaman attributed India's recent GDP slowdown to reduced public spending, no ...More

Finance Minister Nirmala Sitharaman attributed India's recent GDP slowdown to reduced public spending, not systemic issues. She anticipates the third quarter will compensate for this, maintaining India's position as the fastest-growing major economy. The RBI, however, lowered its growth projection to 6.6 percent, citing global factors and potential wage stagnation. ...Less

Finance Minister Nirmala Sitharaman announced that SBI will expand its network by opening 500 new branche ...More

Finance Minister Nirmala Sitharaman announced that SBI will expand its network by opening 500 new branches, reaching a total of 23,000 branches by FY25. This expansion, she noted, is a testament to SBI's growth from its humble beginnings as the Imperial Bank of India in 1921 to its current status as a banking giant serving over 50 crore customers. ...Less

Karnataka Chief Minister Siddaramaiah is seeking a meeting with Union Finance Minister Nirmala Sitharaman ...More

Karnataka Chief Minister Siddaramaiah is seeking a meeting with Union Finance Minister Nirmala Sitharaman to discuss a significant reduction in NABARD loan allocation to the state. Siddaramaiah will travel to Delhi to launch Nandini dairy products and hopes to secure an appointment with Sitharaman to address the 58% decrease in loan amount compared to the previous year. ...Less

A pilot project of the PM Internship scheme has launched, with youths from 656 districts across India sta ...More

A pilot project of the PM Internship scheme has launched, with youths from 656 districts across India starting internships at various companies. Many companies are providing holistic support, including accommodation, training, and transport facilities. The pilot aims to provide 12-month internships to 125,000 candidates aged 21-24, with a monthly allowance of Rs 5,000. ...Less

The user had posted: "I humbly request you to consider providing some relief for the middle class. I unde ...More

The user had posted: "I humbly request you to consider providing some relief for the middle class. I understand the immense challenges involved, but it's just a heartfelt request." ...Less

Devendra Fadnavis is set to become Maharashtra's Chief Minister again. The BJP-led Mahayuti alliance won ...More

Devendra Fadnavis is set to become Maharashtra's Chief Minister again. The BJP-led Mahayuti alliance won a huge victory in the state elections. Fadnavis thanked PM Modi and the voters. He acknowledged the support of Eknath Shinde, Ajit Pawar, and Ramdas Athawle. The swearing-in ceremony will take place at Azad Maidan in Mumbai. PM Modi will attend the event. ...Less

Devendra Fadnavis has been finalized as the Chief Minister of Maharashtra after a BJP core committee meet ...More

Devendra Fadnavis has been finalized as the Chief Minister of Maharashtra after a BJP core committee meeting. He has been elected as the party's legislative leader. The decision comes after discussions with top leaders, including Vijay Rupani and Nirmala Sitharaman. Fadnavis is set to be sworn in on December 5. ...Less

Bank stocks saw an uptick as the Lok Sabha passed the Banking Laws (Amendment) Bill, 2024, introducing mu ...More

Bank stocks saw an uptick as the Lok Sabha passed the Banking Laws (Amendment) Bill, 2024, introducing multiple changes including allowing multiple nominees for depositors and altering regulations for bank directorships. Finance Minister Nirmala Sitharaman emphasized the professional management and financial health of banks, boosting investor confidence. ...Less

Maharashtra: Eknath Shinde will join the new Mahayuti government as one of two deputy CMs, likely under B ...More

Maharashtra: Eknath Shinde will join the new Mahayuti government as one of two deputy CMs, likely under BJP's Devendra Fadnavis. Meetings among leaders continue to finalize power-sharing and portfolios. The CM and two deputy CMs will take oath, with a wider cabinet to follow. The swearing-in event will be attended by PM Modi and other VVIPs. ...Less

Finance Minister Nirmala Sitharaman emphasizes the need for responsible capitalism and highlights India's ...More

Finance Minister Nirmala Sitharaman emphasizes the need for responsible capitalism and highlights India's progress towards becoming a developed country by 2047. Addressing a roundtable in Mexico, she discusses potential collaborations, particularly in AI and near-shoring, amid contrasting growth forecasts for India and Mexico. ...Less

The Central Board of Indirect Taxes & Customs (CBIC) clarified that media reports about GST rate changes ...More

The Central Board of Indirect Taxes & Customs (CBIC) clarified that media reports about GST rate changes recommended by the Group of Ministers (GoM) are speculative. The GoM, composed of state ministers, is yet to finalize and present its recommendations to the GST Council. The Council will consider these recommendations in their next meeting. ...Less

India has transported goods to Russia via the Transcaspian route of the International North South Transpo ...More

India has transported goods to Russia via the Transcaspian route of the International North South Transportation Corridor for the first time. This pilot shipment of agricultural goods aims to assess the feasibility of regular supplies. INSTC includes several routes across the Caspian Sea, through Iran, and via Azerbaijan, with ongoing developments in related infrastructure. ...Less

Around 70-75 percent of GST revenues in 2023-24 came from the 18 percent slab. Only 5-6 percent was from ...More

Around 70-75 percent of GST revenues in 2023-24 came from the 18 percent slab. Only 5-6 percent was from the 12 percent slab. The highest 28 percent slab contributed 13-15 percent. The 5 percent slab accounted for 6-8 percent. The GST Council is considering rate rationalization to boost GST revenues. ...Less

Finance Minister Nirmala Sitharaman stated that insurance costs may decrease if the GST Council suggests ...More

Finance Minister Nirmala Sitharaman stated that insurance costs may decrease if the GST Council suggests lowering GST rates on health and life insurance policies. The GST Council is set to discuss the matter in December. If approved, reductions in GST rates would directly benefit policyholders, particularly in a competitive market. ...Less

Union Finance Minister Nirmala Sitharaman and former Gujarat CM Vijay Rupani have been named by the BJP a ...More

Union Finance Minister Nirmala Sitharaman and former Gujarat CM Vijay Rupani have been named by the BJP as central observers for the Maharashtra legislature party's meeting. MLAs will elect their leader, likely to be the next chief minister. The new government's oath-taking ceremony is set for December 5 at Azad Maidan, South Mumbai. ...Less

The government plans to launch the PM Internship scheme and an employment-linked incentive programme as a ...More

The government plans to launch the PM Internship scheme and an employment-linked incentive programme as a package this month. The schemes aim to boost employment and provide opportunities for young Indians. Selected interns will receive a monthly allowance and a one-time aid, with participating companies covering training costs. Leading companies have already placed offers under the pilot. ...Less

The Indian Parliament will resume on Monday at 11 am after disruptions in the first week. Opposition prot ...More

The Indian Parliament will resume on Monday at 11 am after disruptions in the first week. Opposition protests continue over the Adani issue and violence in Manipur and Sambhal. Several bills are set to be moved, including amendments to banking and railway laws, and the introduction of the Coastal Shipping Bill. Key ministers will address important matters. ...Less

Large companies like Reliance Industries, Tata Consultancy Services, and Maruti Suzuki will top up the go ...More

Large companies like Reliance Industries, Tata Consultancy Services, and Maruti Suzuki will top up the government stipend for interns under the PM Internship scheme. The scheme aims to provide internships to young Indians and enhance employability. The portal was launched in October, and the scheme will expand in the coming fiscal years to include more applicants. ...Less

External Affairs Minister S Jaishankar is set to address the Lok Sabha on Monday about recent development ...More

External Affairs Minister S Jaishankar is set to address the Lok Sabha on Monday about recent developments in India's relations with China amidst the ongoing winter session of Parliament. Other key ministers will also present statements and propose bills on various significant issues including finance, railways, coastal shipping, and civil aviation. ...Less

Union Finance Minister Nirmala Sitharaman engaged with students at CMS Business School, addressing women' ...More

Union Finance Minister Nirmala Sitharaman engaged with students at CMS Business School, addressing women's empowerment and government initiatives for innovation. She argued against the notion of patriarchy hindering women's progress, citing Indira Gandhi's prime ministership as evidence. Sitharaman highlighted the government's support for MSMEs and digital banking transformation, emphasizing the growth of startups and unicorns in India. ...Less

Indian Finance Minister Nirmala Sitharaman raised concerns about insurance mis-selling, emphasizing its c ...More

Indian Finance Minister Nirmala Sitharaman raised concerns about insurance mis-selling, emphasizing its contribution to higher borrowing costs for customers. She urged banks to focus on affordable lending rates to support industrial growth and advocated for digital financial inclusion. Sitharaman highlighted India's economic resilience and the need for transparency in banking practices. ...Less

Reform of dispute resolution mechanisms, simplification of litigation management, overhaul of rules deali ...More

Reform of dispute resolution mechanisms, simplification of litigation management, overhaul of rules dealing with transfer pricing and tax deduction at source are some of the top focus areas in the simplification exercise, the official said, adding that wider consultation is needed with the law ministry on provisions of the Benami and Black Money Acts. "Some provisions require a deeper examination. Also, there are areas where there are conflicting views within subcommittees," the official said. ...Less

Finance Minister Nirmala Sitharaman highlighted how India's investment in digital public infrastructure i ...More

Finance Minister Nirmala Sitharaman highlighted how India's investment in digital public infrastructure is empowering small businesses to reach global markets. She emphasized the government's commitment to fiscal prudence, using taxpayer money for durable assets and good governance, while also encouraging women to overcome challenges and excel in their fields. ...Less

Finance Minister Nirmala Sitharaman's Mahila Samman Savings Certificate scheme has garnered over 4.33 mil ...More

Finance Minister Nirmala Sitharaman's Mahila Samman Savings Certificate scheme has garnered over 4.33 million depositors since its April 2022 launch. Maharashtra leads with 746,223 accounts, followed by Tamil Nadu and Odisha. The scheme offers a 7.5% interest rate on a maximum deposit of ?2 lakh and will be available until March 2025, promoting women's financial independence. ...Less

Swaminathan Aiyar, Consulting Editor of ET Now, analyzes the recent election results in Maharashtra and J ...More

Swaminathan Aiyar, Consulting Editor of ET Now, analyzes the recent election results in Maharashtra and Jharkhand, highlighting the BJP's surprising victories despite a previous setback in the general elections. Aiyar discusses the factors contributing to these wins, including the BJP's focus on infrastructure development and strategic use of populist measures. ...Less

RSS Chief Mohan Bhagwat emphasized the need to revive India's forgotten pride by reintroducing its value ...More

RSS Chief Mohan Bhagwat emphasized the need to revive India's forgotten pride by reintroducing its value system and cultural wisdom. Speaking at Lokmanthan-2024, he urged the adoption of a contemporary approach towards India's eternal dharma and culture, while incorporating positive aspects from other nations without compromising the country's soul. ...Less

Finance Minister Nirmala Sitharaman advocates for increased support from multilateral development banks t ...More

Finance Minister Nirmala Sitharaman advocates for increased support from multilateral development banks to aid poor and developing nations, particularly in Africa, in achieving their sustainable development goals. She emphasizes the need for affordable and long-term financing, supported by structural reforms to attract foreign investments. ...Less