BUSINESS
Budget 2025 likely to set aside Rs 1.7 lakh crore for fertiliser subsidy
The MDA scheme, aimed at promoting organic fertilisers and manure, is set to get an increased allocation of Rs 150 crore, up from Rs 100 crore in FY25
BUDGET
Budget 2025: Customs duty slabs may be rationalised but FTAs to limit flexibility
There are more than 40 different rates and the government is keen on streamlining the customs duty structure to simplify trade
ECONOMY
CEA Nageswaran flags land regulations as hurdle in realising India's manufacturing dreams
Nageswaran was speaking at the EXIM Bank International Economic Research annual event
BUSINESS
Budget 2025 likely to double minimum pension under Atal Pension Yojana to Rs 10,000
Named after former Prime Minister Atal Bihari Vajpayee, the Atal Pension Yojana aims to strengthen financial inclusion and provide a safety net for those without access to formal retirement benefits.
BUSINESS
Eighth Pay Commission may impact fiscal consolidation, tax devolution by 16th Finance Commission: Economists
With the constitution of the Eighth Central Pay Commission in 2025, increases in salary and pension expenditures for central government employees will start reflecting in the central budget from FY 2026-27.
BUDGET
Budget 2025: Incentives to set up working women's hostels could be cut from states' 50-year capex loans
The interest-free loan scheme introduced 2021-22 is likely to be extended for 2025-26 with a renewed focus on land reforms and scrapping of old vehicles. While some schemes face the axe, issues like urban development and the environment would remain priorities.
BUDGET
Budget 2025: Insight 2.0 on cards to better analyse tax info from banks to flag evasion
The upgraded ‘Insight’, which is in the final stages of approval, will help I-T authorities, better analyse data received from banks, financial institutions and GST filings among sources others to identify discrepancies
BUSINESS
GST authorities search PB Fintech’s Gurgaon office over evasion allegations
PB Fintech, owns and operates Policybazaar, which offers an array of insurance products and advisory services.
BUSINESS
Net direct tax collection up over 15.9% at Rs 16.89 lakh crore
While the non-corporate tax witnessed 21.5 percent growth in advance tax, corporate tax grew by only 8 percent till January 12.
BUDGET
Budget 2025: Finance Bill likely to upgrade income tax application with AI for efficient audits, flagging of frauds and enhanced capacity
ITBA is the core platform used by income tax officers for audits, investigations, penalties, appeals and compliance management, and its enhanced version will also mean real-time tracking of returns, refunds and assessments for taxpayers.
BUSINESS
Odisha, Madhya Pradesh, Karnataka lead tourism investments in FY25; Arunachal, Punjab, Jharkhand lag
A total of Rs 3,295.76 crore has been disbursed to states for tourism projects under the capex loan to states scheme in 2024-25.
BUDGET
Budget 2025: Finance Bill likely to further strengthen GST to tackle fake invoicing
The Finance Bill is likely to introduce amendments to the GST Act to further strengthen mechanisms to curb fake invoicing. Sources said the act will be amended to include the Invoice Management System, introduced in November 2024 to curb fake invoicing, giving it a legal basis.
BUSINESS
Union Budget 2025: Time ripe for a tax cut for India’s salaried class
A more pronounced slowdown in urban consumption and high food inflation have solidified calls for lowering the burden on India’s salaried class, which could in turn spur demand and boost overall economic activity.
BUSINESS
Budget 2025: Govt likely to ease conditions on capex loans to states to meet Rs 1.5 lakh cr target in FY25
There is no proposal to cut the state loan for capex or reduce the amount budgeted in the revised estimates exercise in Union Budget 2025-26.
BUSINESS
IIFCL targets Rs 1 lakh crore infra financing disbursement over next 3 years
In the current fiscal, IIFCL plans to raise over Rs 8,000 crore in the current quarter through a mix of blended finance and ECBs
BUSINESS
Steel ministry proposes merger of NMDC and KIOCL to FinMin: Govt source
While NMDC Limited, a Navratna CPSE, is India's largest iron ore producer. In the financial year 2023-24, NMDC achieved a turnover of Rs 21,294 crore.
BUSINESS
FinMin nudging banks to fund large infrastructure projects: DFS Secretary
M Nagaraju pointed out that infrastructure projects are typically viable if there is no fraud, funds are not diverted, and there are no timelines
BUSINESS
From licence-permit raj to globalisation: Economists reflect on Manmohan Singh’s transformational legacy
Singh’s tenure as Finance Minister in 1991 is particularly noted for bold economic reforms during a period of acute financial crisis.
BUSINESS
Budget 2025 may propose simplified tax regime for foreign semiconductor firms to boost manufacturing in India
The presumptive taxation scheme allows foreign entities to calculate their income as a percentage of their turnover, bypassing the need for detailed accounting
BUSINESS
India’s economy poised for 6.5% growth in FY25: Finmin
October-March growth is likely to be better than in H1, the Finance Ministry said in its Monthly Economic Review for November 2024, while adding that food price pressures are likely to decline gradually, supported by an optimistic farm sector outlook
BUSINESS
How did India's top economic policymakers steer the economy through 2024?
Sanjay Malhotra was appointed as the 26th Governor of the RBI on December 11, after serving as Revenue Secretary from December 2022 to 2024.
BUDGET
Ahead of Union Budget, PM Modi discusses ways to enhance employment among youth with economists
The economists shared insights on the challenges of youth unemployment and the need for policies to align education and training programs with the evolving job market.
BUSINESS
Revamped Income Tax Act likely to take over a year to get implemented
Sources tell Moneycontrol that the implementation of the proposed IT Act will take over a year. The proposed overhaul envisages an extensive review of the current Act, which spans 23 chapters. A review committee, comprising 23 sub-committees and working groups, is scrutinising each chapter to identify areas for improvement.
BUSINESS
GST 2024: Record revenues & rate resets take centrestage
Measures such as e-invoicing for businesses and streamlined filing processes have contributed to better tax administration.
