NEW DELHI: Finance minister Nirmala Sitharaman, paraphrasing Abraham Lincoln, described the Union Budget as “by the people, for the people, of the people” during an interview with PTI on Sunday. She said that Prime Minister Narendra Modi was fully supportive of tax cuts, but bureaucratic hurdles delayed the decision. “We have heard the voice of…
Union finance minister Nirmala Sitharaman on Saturday announced significant income tax cuts for the middle class and unveiled reforms for a ‘Viksit Bharat’, balancing fiscal prudence with growth. Individuals earning up to Rs 12 lakh annually will pay no tax, with an additional Rs 75,000 standard deduction for the salaried class. The revised tax slabs…
This Budget is for aspirations of 140cr Indians… It’s a force multiplier… will increase savings…and growth —PM Modi Happy early Diwali. Or should we say, belated Happy New Year? Whatever your preferred greeting, here’s the takeaway — FM Nirmala Sitharaman Saturday unveiled a Budget bonanza for taxpayers, particularly the middle class, which has been reeling…
Union finance minister Nirmala Sitharaman on Saturday tabled the Budget 2025 announcing a slew of measures, including no tax on income up to Rs 12 lakh. Here’s a look into the gains and pains that the Budget offers: Gains for taxpayers No tax on income up to 12L. With standard deduction, salaried remain tax free…
Taking forward the call for deregulation in the Economic Survey, FM Nirmala Sitharaman is seeking to significantly cut red tape and promote ease of doing business to achieve India’s aim of becoming a developed country in the coming years.Govt will now bring up Jan Vishwas Bill 2.0 to decriminalise over 100 more provisions under various…
NEW DELHI: The commerce, MSME and finance ministries will work together to identify various sectors that will require maximum capital support for technology upgradation, marketing, brand building, and accessing newer markets, to boost exports, commerce minister Piyush Goyal said Saturday. Govt has announced setting up an Export Promotion Mission with an outlay of Rs 2,250…
The Budget proposes an Urban Challenge Fund (UCF) of Rs 1 lakh crore to encourage states to think innovatively towards attaining sustainable urbanisation and redevelopment goals in existing cities.The grant is expected to infuse around Rs 4 lakh crore for infrastructure development, achieving saturation and implementing redevelopment projects.“This fund will finance up to 25% of…
Positioning agriculture as the “first” engine of growth, the Budget proposes multiple schemes to boost farming, including a special programme in 100 low-productivity agricultural districts.Additionally, it proposes a six-year mission to make the country self-reliant in producing pulses, enhancing farmers’ well-being and overall rural prosperity.Govt has also proposed to increase the subsidised Kisan Credit Card…
Finance minister Nirmala Sitharaman announced a significant increase in allocation for the education sector, focusing on last-mile broadband connectivity in rural schools that were worst hit by insufficient internet coverage during Covid. Infrastructure expansion for IITs, medical education and AI in learning were also among the Budget highlights.The digital push is expected to boost broadband…
In presenting the Union Budget for 2025-26, finance minister Nirmala Sitharaman would seem to have managed the envious task of giving out generously to the taxpayer while remaining fiscally responsible and prudent.How has she managed to do this?The short answer is that it has been achieved partly through curbing ambition in spending to create assets…
