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Increase to benefit over 1.15 crore individuals; effective from January 1, 2025
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Nirmala Sitharaman refuted states' allegations on cess utilisation.
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Under round 12, a total of 25 coal mines are being offered, comprising 7 mines under Coal Mines (Special Provisions) Act, 2015 and 18 mines under Mines and Minerals (Development and Regulation) Act, 1957.
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Now, tax authorities can reassess hitherto undisclosed earnings only, and not income that’s already been declared.
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The presumptive taxation scheme has been established for foreign electronic manufacturers to override other provisions, reducing litigation and compliance burdens for non-resident firms
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The Finance Bill 2025 has amended the rules so that only direct investments by Indian residents will be considered within the 5 percent safe harbour threshold.
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India's economic outlook gets a reality check in the finance ministry’s latest review. Amid resilience and risks, the report hints at what could drive—or derail—growth ahead
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The government is actively looking to increase its skilled and professional manpower base to tackle dynamic fields such as cybersecurity and Artifical Intelligence (AI) as the country plans to increase its transmission grid network by 34 percent till 2030, according to senior officials in the Ministry of Power.
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The report also calls for updating AC test procedures to better reflect India's humid climate, where comfort depends not just on cooling but on moisture removal.
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As part of an internal study by the Finance Ministry and NITI Aayog, the government is analysing tariff lines between India and the US to identify areas where the former can lower duties irrespective of domestic capacities. However, this is not related to the April 2 deadline for Trump’s reciprocal plan.
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Encrypted WhatsApp messages helped uncover Rs 200 crore in unaccounted money, says Finance Minister
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Farmers have been demanding that Centre must do away with Goods and Services Tax (GST) on agricultural equipment and inputs, which they feel is a big burden on farmers, and should be waived off to lower the cost of cultivation.
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Coal stocks at domestic thermal power plants (TPPs) – a key indicator proportionate to India’s potential to generate electricity - is currently at a historic high of 54 million tonne (MT), according to Power Ministry.
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The finance ministry is waiting for final inputs from key departments before sending the terms of reference for cabinet approval, paving the way for the commission’s formation.
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The move comes amid renewed trade negotiations with the United States. The removal will benefit non-resident entities which are into digital advertising services.
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For India, the use of fossil fuel cannot be wished away in a hurry, while the strategy should be to expedite RE investment
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The proposed green hydrogen hub in Mundra will require 22 GW renewable energy, followed by the proposed hub at Kandla port. In total, Gujarat alone would require 32.3 GW of renewable electricity for its green hydrogen hubs, according to the National Electricity Plan.
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The GoM, comprising Bihar, Uttar Pradesh, Rajasthan, Kerala, Karnataka and West Bengal, is divided on doing away with the 12% GST slab.
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Companies contend that the existing tax rules fail to account for stock price fluctuations between deal signing and execution
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The GST Council may finalise relief on life and health insurance at its next meeting, with states showing consensus on the matter.
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Trump's presidency will be a boost to India's nuclear ambitions, NPCIL's chairman Bhuwan Chandra Pathak said, adding that the PSU plans to invest at least Rs 6.6 lakh crore to build 50 gigawatts (GW) nuclear power capacity.
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FM Sitharaman has sought greater involvement from leading companies, calling it essential to maximise the scheme's impact and help the youth meet industry’s expectations.
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Sanghnomics: The Swadeshi Jagaran Manch has been a proponent of Swadeshi economics and has a few suggestions that could protect India’s interests amid tariff war with the US. From making bilateral agreements to boosting “Atmanirbhar Bharat” policy, these are a few ideas that SJM thinks could help India chart its way forward
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The Bombay High Court’s decision on Mad Over Donuts' tax classification case could clarify GST treatment for restaurant and bakery services.
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The Central Board of Direct Taxes is preparing a detailed, chapter-wise presentation on the proposed bill to present before the Select committee. This will list the bill's general provisions, specific chapter-wise amendments and the underlying process and policy changes, a senior government official said.
