Nirmala Sitharaman: Nirmala Sitharaman Latest News, Videos, Photos and Updates. Nirmala Sitharaman Announcements and more | The Economic Times (original) (raw)

Monetary, fiscal policies working in tandem: FM Nirmala Sitharaman

Finance minister Nirmala Sitharaman highlighted strong coordination between fiscal and monetary policies, evident during Covid. She noted early signs of consumption recovery and increased capacity utilization. Recent tax cuts and RBI rate adjustments aim to bolster growth and private investment, with an emphasis on making India more investor-friendly.

LIVE | FM Nirmala Sitharaman addresses Post-Budget conference

Finance Minister Nirmala Sitharaman speaks for the first time after the Union Budget 2025 presentation, her eighth in a row and first in Modi 3.0. The FM announced big tax benefits for the middle class in a long while, exempting brackets under Rs 12 lakh under the New Tax Regime. She also announced social security benefits for gig-workers and big-ticket investments in startups and BigTech. Special focus was on incentives for Bihar, and investments in agriculture, MSMEs and people as 'three engines of growth'.LIVE | FM Nirmala Sitharaman addresses Post-Budget conference

How Nirmala Sitharaman changed your study abroad budget

The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, revises TCS rates on foreign remittances, easing financial planning for Indian students aiming to study abroad. The decrease in TCS rates on educational loans and remittances intends to reduce the financial burden and enhance accessibility to overseas education.

Fiscal & monetary measures to boost consumption, private investment says Nirmala Sitharaman

Finance Minister Nirmala Sitharaman expressed confidence that recently announced fiscal and monetary measures will boost consumption and stimulate private investment. The February 1 Budget includes significant tax cuts benefiting the middle class, while the Reserve Bank's policy rate cut aims to support economic growth. Coordinated efforts between the government and RBI continue to prop up growth and manage inflation.

Finance Minister Nirmala Sitharaman talks about freebies/revdi issue

With the upcoming high-stakes elections in Delhi, political parties like AAP and BJP focus heavily on offering freebies. However, there's a growing concern about the sustainability of these schemes given states' financial constraints. Despite promising lucrative benefits, the fiscal reality often forces governments to scale back or delay the implementation.

Finance Minister Nirmala Sitharaman to address RBI board on Feb 8

Finance Minister Nirmala Sitharaman will address the RBI central board on February 8 to discuss key points of the Budget FY26, which includes significant income tax relief aimed at boosting demand. The meeting follows the RBI's expected announcement of a rate cut to stimulate GDP growth.

Growth slowdown is a temporary dip, says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman stated that the recent growth slowdown was temporary, citing elections as a factor. She emphasized the focus on MSMEs, employment generation, tax reforms, AI development, MGNREGA funding, and GST rationalisation. Sitharaman also addressed issues related to social media opinions, freebie politics, and support for states like Bihar, Tamil Nadu, and Kerala.

Budget 2025: Budget is by the people, for the people, says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman characterized the Union Budget as a reflection of the people's needs, echoing Abraham Lincoln's famous words. She emphasized Prime Minister Narendra Modi's support for tax cuts, though it required time to persuade bureaucrats. In an interview with PTI, she acknowledged the middle class's frustrations over unmet aspirations despite their commitment as honest taxpayers.

India Budget: Nirmala Sitharaman's polices to lure Delhi, Bihar voters?

Union Budget: The budget unveiled by the Modi government emphasizes political strategy with a specific focus on Delhi and Bihar. Significant tax breaks target Delhi's middle class, while Bihar receives multiple development initiatives, including a Makhana Board, expanded IIT-Patna, and enhanced tourism. These measures aim to bolster BJP's position in upcoming elections in both states.

Income tax cut shows strength of economy: Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman highlighted India's resilience amidst global uncertainties and emphasized the need for vigilance. She confirmed that privatisation, including that of IDBI Bank, is a priority. Sitharaman also pointed out the government's capacity to forgo income tax for those earning up to ₹12 lakh as a sign of economic strength and reiterated the soundness of India's macroeconomic fundamentals.

Budget 2025: Nirmala Sitharaman makes history with eighth consecutive budget

Budget 2025: Finance Minister Nirmala Sitharaman has made history with her eighth consecutive Union Budget presentation, setting a new record. As India navigates an economic slowdown, her steadfast tenure brings her closer to the record of 10 budgets set by former Prime Minister Morarji Desai. The article highlights key milestones, including the evolution of budget dates and timings, the longest and shortest speeches, and significant figures in India’s budget history.

New income tax bill: What should you expect?

India's Finance Minister Nirmala Sitharaman announces a New Income-tax Bill in 2024 aimed at simplifying tax laws, stimulating investment, and improving business ease. The Bill will reduce chapters and words by half, focus on clear language, reduce litigation, and obsolete provisions. Stakeholders' suggestions and CBDT's internal committee contributed to its drafting.

Budget 2025 Highlights: NPS Vatsalya contribution to get tax benefit up to Rs 50,000

Budget 2025 Highlights: In a big boost to the Indian middle class, Finance Minister Nirmala Sitharaman on Saturday announced that there will be no income tax payable for incomes up to Rs 12 lakh, and Rs 12.75 lakh for salaried taxpayers (including standard deduction) in the new tax regime. Here's a look at new tax slabs; Income up to Rs 4 lakh (per annum) ----- Nil Between Rs 4 and 8 lakh ---------------- 5 per cent (tax) Between Rs 8 and 12 lakh --------------- 10 per cent Between Rs 12 and 16 lakh -------------- 15 per cent Between Rs16 and 20 lakh --------------- 20 per cent Between Rs 20 and 24 lakh -------------- 25 per cent Above Rs 24 lakh ------------------------- 30 per cent Nil tax slab will apply for annual income up to Rs 12 lakh (Rs 12.75 lakh for salaried tax payers with standard deduction of Rs 75,000) under new tax regime. Here's a summary of all the major Budget announcements; Finance Minister Nirmala Sitharaman has put the middle class squarely at the centre of her Budget by announcing nil income tax up to Rs 12 lakh income. Her previous budgets were marked by huge amounts of money marked for capital expenditure aimed at building infrastructure such as railways and highways. In this budget, Sitharaman has decided to raise capital expenditure at a lower rate. The capital expenditure for 2025-26 will be 11.2 lakh crore, marginally higher from Rs 11.1 lakh crore in the previous budget when she had raised it by 11%, slowing down the breathtaking speed in previous years. Known for her prudent budgeting, she has stayed the course on fiscal deficit by announcing it to be 4.4% for next financial year when it was expected to be below 4.5%. Sitharaman has also not taken her attention off the Viksit Bharat roadmap as she has detailed plans to rejuvenate several critical sectors such as agriculture and small industry, calling them engines of development. She has also laid emphasis on human capacity enhancement and skilling as well as outlining a reformist agenda for several sectors. These steps aim at powering economic growth in the long run. Sitharaman's Budget is high on hope when consumer demand is low, inflation has hit the common people, and GDP growth has slumped while concerns over job creation persist. This Budget comes as GDP growth is projected to fall to a four-year low of 6.4% in FY24, near its decadal average. The Economic Survey forecasts 6.3-6.8% growth in FY26, well below the pace required to achieve Viksit Bharat by 2047. It stresses the need for land and labour reforms to drive growth. With India's world-leading growth showing signs of moderation, the push for an 8% annual growth rate remains crucial. The projected growth for FY25-26 compares to an estimated 6.4% in FY24 and 8.2% in FY23-24. Budget 2025 Live streaming: When and where to watch Nirmala Sitharaman’s speech; Budget Speech Timing: Scheduled for 11 a.m. on February 1 in the Lok Sabha. Live Broadcast: Available on Sansad TV, DD News, and Sansad TV’s YouTube channel. Online Updates: Follow all Budget 2025 updates on economictimes.com Key numbers to watch out for in the Union Budget for 2025-26: Fiscal Deficit Capital Expenditure Debt Roadmap Borrowing Tax Revenue GST Nominal GDP Dividend Disinvestment & Asset Monetisation Budget FAQs What is the Union Budget? The Union Budget is the annual financial statement of the government. It outlines revenue and expenditure for the upcoming financial year. Who presents the Union Budget? Finance Minister Nirmala Sitharaman presents the Budget in Parliament. When is the Budget presented? The Budget is presented on February 1. What are the key components of the Budget? Revenue Budget Expenditure Budget Fiscal Deficit GDP Growth Projections Policy Announcements Will there be changes in income tax slabs? Given the pressure on middle class, Nirmala Sitharaman may propose changes in tax slabs, exemptions, and deductions under the old and new tax regimes in the budget. What are the indirect tax changes? Major indirect taxes are GST, customs, excise duties etc. The Budget can alter GST rates, impose or reduce customs and excise duties, impacting imported goods and services.

Finance Minister Nirmala Sitharaman says no targets for rupee value, it is market-determined

Finance Minister Nirmala Sitharaman clarified that the value of the Indian rupee is market-determined, with no devaluation involved. The rupee's recent decline enhances export competitiveness but may increase the cost of imports. Regulatory measures are in place to handle unclaimed insurance funds, improve claim settlements, and impose penalties for processing delays.

Budget 2025 Expectations Highlights: Stage set for FM Nirmala Sitharaman to present Budget 2025-26 tomorrow

Union Budget 2025 Highlights Updates, Economic Survey: Finance Minister Nirmala Sitharaman has tabled the Economic Survey 2024-25 in Parliament on Friday afternoon, providing key insights into the country's economic performance and shaping expectations for the upcoming Union Budget. As is the convention, Finance Minister Nirmala Sitharaman tabled the pre-budget detailed state of the economy document in the Parliament, a day ahead of the Budget presentation for the next financial year - 2025-26. Economic Survey: Key Updates from President's speech; President Droupadi Murmu stated that the government's third term is progressing at three times the speed of previous administrations. Key decisions have been made on issues like Waqf boards and the One Nation, One Election initiative. Special focus is being placed on youth education and creating new employment opportunities. The Ayushman Bharat scheme will provide health insurance to six crore citizens aged 70 and above. The Pradhan Mantri Awas Yojana will be expanded to provide homes to an additional three crore families. The Economic Survey, tabled in Parliament ahead of the Union Budget, also provides the roadmap for reforms and growth. The document is prepared by a team led by Chief Economic Adviser V Anantha Nageswaran. The survey outlines the developments in the economy and various sectors, in addition to providing an outlook for the next financial year. The document is expected to provide an assessment of the key developments like slowing growth, declining value of the rupee against the US dollar, and subdued consumption demand. Often surveys come up with new and out-of-the-box ideas to meet challenges relating to poverty alleviation, climate change, education, infrastructure development, and financial sector. Ahead of Budget, Prime Minister Modi expressed hope that important reforms will be introduced during the Budget session, emphasising the need for collaboration between the Centre and state governments. He also assured that crucial decisions for women empowerment will be made during the session, underscoring the government's commitment to addressing gender equality and promoting inclusive growth. He added that, for the first time since 2014, no foreign attempt has been made to provoke unrest ahead of the Parliament session. Read More: Income Tax Budget 2025 Expectations Live

Morning Brief Podcast: Taxes, Trump and Tariffs with Swaminathan Aiyar

Between finance minister Nirmala Sitharaman’s tax sops for the middle class and Donald Trump’s tariff missiles on three countries he really dislikes, it’s been a largely eventful three days. And as usual, The Morning Brief is buzzing with questions: From tax cuts and fiscal discipline to capital expenditure, is the so-called “impossible trifecta” too good to be true? Why was a tax bill introduced separately from the budget? Is the government pivoting from corporate India to the middle class? Trump’s latest executive decision can put global trade in limbo and has thrust the world into very uncertain times. What lies ahead? Host Arijit Barman talks to Swaminathan Aiyar about it all. And more… Tune inMorning Brief Podcast: Taxes, Trump and Tariffs with Swaminathan Aiyar

Finance Minister Nirmala Sitharaman arrives at North Block ahead of Union Budget

Union Finance Minister Nirmala Sitharaman will present her eighth consecutive Union Budget at 11 am today, outlining fiscal policies, revenue proposals, and taxation reforms. The Economic Survey forecasts India's economy to grow between 6.3% and 6.8% in FY25-26 and emphasizes strong economic fundamentals, robust foreign exchange reserves, and significant growth in formal employment.

Union Budget FY26: Shift from targeted subsidies to universal benefits

In FY21, subsidies were 3.82% of GDP, now down to 1.19%, reflecting a 40-basis-point annual contraction — no small feat. This decline, alongside reduced income tax, signals a shift from targeted benefits to broader economic impact. While subsidies aid lower-income groups, the focus now leans towards policies fostering overall growth and long-term financial stability.

Nirmala Sitharaman on GST rationalisation, popcorn controversy, BJP’s freebie trap & more

Finance Minister Nirmala Sitharaman discusses GST rate rationalisation, aiming to simplify rates for essential goods. She plans to reduce the highest rates and bring more items under lower tax categories. Sitharaman also addresses the impact of public opinion, controversies, and political strategies on economic decisions. The emphasis is on ensuring fiscal responsibility and asset creation.

Budget 2025 wants you to take the extra cash...eat, drink and make merry

Finance Minister Nirmala Sitharaman's tax relief measures are expected to boost consumer spending in sectors like dining, entertainment, travel, and retail. Business leaders anticipate higher disposable incomes will revive footfalls in restaurants and malls, enhance travel, and increase retail purchases, fostering job creation and economic growth despite challenges like the lack of input tax credit in the restaurant sector.

Every budget of Modi govt is an election package: Sanjay Raut

Shiv Sena (UBT) leader Sanjay Raut criticized the Union Budget, claiming it is an election package favoring Bihar, which has upcoming elections. Finance Minister Nirmala Sitharaman announced several incentives for the state, including airport developments and agricultural projects, sparking opposition claims of bias towards Bihar.

Budget 2025: Policy soon to recoup critical minerals from byproducts

India will introduce a new policy to recover critical minerals from mining by-products to bolster availability for next-gen manufacturing. Finance Minister Nirmala Sitharaman said import duty relaxations will secure critical mineral availability, while Coal and Mines Minister G Kishan Reddy highlighted the policy's role in strengthening strategic industries.

Budget 2025: More reforms to give ease of business a leg up

The government announced new measures to simplify business operations, including a high-level regulatory reforms committee, an Investment Friendliness Index for States, and streamlined company merger approvals. These changes aim to enhance productivity and employment by updating old regulations and decriminalising various provisions.

PM Modi calls Budget people-centric, force multiplier

Prime Minister Narendra Modi praised the budget for prioritizing the middle class, rural economy, and key communities. The budget aims to boost savings, investment, and growth, while also supporting job creation in sectors like ship-building and tourism. Key initiatives include tax reliefs, infrastructure development, and support for agriculture.

Budget 2025 Highlights: Budget by the people, for the people, says Finance Minister Nirmala Sitharaman

Budget 2025 Highlights: Finance Minister Nirmala Sitharaman wore a silk saree with Madhubani art as she presented her eighth budget and the ruling NDA members rejoiced at every mention of Bihar, from enhancing the infrastructure at IIT-Patna to promoting tourism at destinations related to Lord Buddha, with the opposition taunting the government over its "coalition compulsions". As Sitharaman rose to present the budget, the opposition showed some aggression by rushing to the well of the Lok Sabha, demanding a statement on the deaths in a stampede at the Kumbh congregation at Prayagraj and later, was stunned into silence as the finance minister announced zero income tax for those with an annual income of Rs 12 lakh. Prime Minister Narendra Modi led the treasury-bench members in thumping the desks enthusiastically as Sitharaman announced the tax proposals and chants of "Modi, Modi" reverberated in the Lok Sabha chamber.

Budget 2025: Government proposes measures to boost activities in IFSC

Finance Minister Nirmala Sitharaman announced measures to boost investment in India's International Financial Services Centre (IFSC), including extending tax concessions and offering exemptions on life insurance policies from IFSC offices until March 2030. This move aims to attract global investors and enhance India's financial infrastructure, reinforcing the government's commitment to making IFSC a global financial hub.

Rural Development budget slightly up; MGNREGS allocation unchanged at Rs 86,000 crore

The Rural Development Ministry in India received a budget allocation of Rs 1.88 lakh crore for 2025-26, marking a 5.75% increase from the previous budget. Key schemes, including MGNREGS, PMAY-G, and DAY-NRLM, received substantial funding. A new 'Rural Prosperity and Resilience' programme aims to address underemployment and boost the rural economy through various initiatives.

Budget 2025: Govt to rationalise procedures for speedy company mergers

The government plans to rationalise the procedures for company mergers, making the process quicker and simpler. The Union Budget 2025-26 also includes the Jan Vishwas Bill 2.0 to decriminalise over 100 legal provisions, alongside introducing a revamped Central KYC Registry in 2025.

Govt to bring out policy to recover critical minerals from by-products of mining: FM

The Indian government will introduce a policy for recovering critical minerals from mining by-products, aiming to boost domestic availability and processing. Import duties on key minerals will be removed to promote manufacturing jobs. Mining reforms will feature in transformative initiatives for various sectors over the next five years.

President's office gets Rs 141.83 crore in Union Budget

The Union Budget allocated Rs 141.83 crore for the president's staff, household, and allowances, a slight increase from the previous fiscal year. Of the total allocation, Rs 60 lakh is designated for the salary and allowances of the president, with other funds earmarked for household establishment, staff salaries, discretionary grants, and capital provisions.

Budget 2025: EV industry welcomes duty cuts, push for clean tech manufacturing

Finance Minister Nirmala Sitharaman presented the Budget 2025, announcing measures to promote electric mobility and green technology. The budget includes exemptions on customs duties for critical minerals like cobalt powder and lithium-ion battery waste, aiming to boost domestic manufacturing and support India's transition to a sustainable future.

Budget 2025: PM Modi lauds ‘people’s budget,’ calls it a ‘force multiplier’ for 140 crore Indians

Prime Minister Narendra Modi praised Union Budget 2025 as a 'force multiplier', highlighting its role in fulfilling the aspirations of 140 crore Indians. He emphasised the budget's focus on youth opportunities and infrastructure, particularly the shipbuilding industry and tourism. Modi commended Finance Minister Nirmala Sitharaman for creating a budget that drives savings, investment, and growth, benefiting every citizen.Budget 2025: PM Modi lauds ‘people’s budget,’ calls it a ‘force multiplier’ for 140 crore Indians

All the tax and other goodies that middle class got from Sitharaman in Budget 2025

Middle Class Budget 2025: Finance Minister Nirmala Sitharaman's Budget 2025 brings major relief for the middle class, including zero income tax for incomes up to Rs 12 lakh. The budget also emphasizes healthcare investments, educational expansion, and tourism-led economic growth to boost India's GDP and attract private investment.

Budget 2025: Indian Railways hopes to improve profitability in 2025-26

Budget 2025: Indian Railways aims to more than double its net earnings in fiscal 2025-26 to Rs 3041.31 crore. With expected revenue receipts crossing Rs 3 lakh crore for the first time, the increase is attributed to improved passenger and freight earnings, supported by the launch of more passenger trains, including Vande Bharat trains, and a timebound concessional duty on certain imports.

Budget 2025: Sitharaman retains rural employment spending at Rs 86,000 cr in FY26

India plans to spend 860 billion rupees on its rural jobs guarantee program in the next fiscal year, remaining unchanged from the previous year's allocation. Despite economic slowdown, the rural economy is recovering. The MGNREGA scheme provides 100 days of work for rural citizens. The unemployment rate reached 7.8% in December 2024, with 35.6 million people unemployed.

Budget 2025: How FM Sitharaman plans to boost the footwear and leather sectors

Budget 2025: Finance Minister Nirmala Sitharaman presented India’s Union Budget for 2025-26, with key initiatives to boost the footwear, leather, and toy manufacturing sectors. The budget also includes a commitment to provide broadband connectivity to all government secondary schools and primary healthcare centres, aiming to bridge the digital divide and improve service delivery.

Will middle class get some tax relief in Budget today? Deloitte economist says...

Taxpayers, particularly those in the lower-middle income bracket, may find some relief in Finance Minister Nirmala Sitharaman's upcoming budget. Deloitte India's economist, Rumki Majumdar, suggests that the government may offer exemptions for individuals in the Rs 7 lakh to Rs 10 lakh annual income range to stimulate consumption and boost the slowing economy.

Budget 2025 key announcements: With major focus on 'ease of doing business', what has India Inc gained?

Budget 2025 Key Announcements: Finance Minister Nirmala Sitharaman's eighth Budget highlights significant measures for India Inc, including PPP project expansion, MSME support, a National Manufacturing Mission, digital trade infrastructure, and taxation reforms. Key policies aim to boost investment, simplify regulations, and enhance global competitiveness, fostering economic growth. Industry leaders are hopeful about the measures to bolster consumption and investment demand.

Income Tax Budget 2025 Live Highlights: Salaried taxpayers wont have to pay any taxes on annual income of up to Rs 12,75,000; check your income tax calculation as per old and new tax regime

Budget 2025 Income Tax Updates: The middle class was hoping for a favorable change in the income tax slabs ahead of the Union Budget 2025-26, and they were not disappointed. Check which income tax regime will work best for you—the old one, the new (existing one), or the new (proposed one). Budget 2025-26 highlights NPS Vatsalya to be treated at par with other NPS accounts Section 87A rebate under the new tax regime has been increased from Rs 25,000 to Rs 60,000 Basic income tax exemption limit raised from Rs 3,00,000 in existing new regime to Rs 4,00,000 in proposed new regime Proposed increase in TCS threshold on remittances under RBI’s Liberalized Remittance Scheme (LRS) from Rs. 7 lakh to Rs. 10 lakh TCS not applicable to educational remittances funded by loans from specified financial institutions Time for filing updated returns for any AY extended by 2 years No Income payable on income of up to Rs 12,00,000 in the new tax regime Here is how the new (proposed) tax regime will now look like: Zero to Rs 4,00,000- No Tax Rs 4,00,000 to Rs 8,00,000---5% Rs 8,00,0001 to Rs 12,00,000---10% Rs 12,00,001 to Rs16 lakh--15% Rs 16,00,001 to Rs 20 lakh--20% Rs 20,00,001 to Rs 24 lakh-- 25% Above 24 lakh---30%

Income Tax Budget 2025 Expectations Highlights: Income tax breaks for middle class, changes in tax slabs, standard deduction, 87A rebate hike in Union Budget 2025-26?

Union Budget 2025 Income Tax Highlights: FM Sitharaman will present the Union Budget on Saturday, February 1, 2025. Taxpayers are hoping that FM Sitharaman will introduce new income tax slabs under the new tax regime and deductions and exemptions in the new tax regime, such as making annual income of up to Rs 10 lakh tax-free and introducing a new tax slab for those with an annual income of between Rs 15,00,000 and Rs 20,00,000 Where to watch FM Nirmala Sitharaman present the Union Budget 2025-26? Today, FM Nirmala Sitharaman will table the Economic Survey in Lok Sabha. FM Nirmala Sitharaman will present her eighth consecutive Union Budget tomorrow, i.e. on Saturday, February 1, 2025, at around 11 am in the parliament. You can watch the live proceedings of the union budget on the government’s official union budget website, indiabudget.gov.in. You can also catch FM Nirmala Sitharaman delivering her budget speech on the YouTube and TV channels of Sansav TV. The YouTube channel of PIB (Press Information Bureau) will also broadcast the live speech, which will begin around 11 am. Expectations of hike in standard deduction limits under old and new tax regime Taxpayers are wishing for a hike in the standard deduction limit under both tax regimes. Currently, while the old tax regime offers a standard deduction of Rs 50,000, under the new tax regime, taxpayers can claim a standard deduction of up to Rs 75,000. Taxpayers are also demanding more exemptions and deductions under the new tax regime. Given that the government is looking to make the new regime more attractive, chances of any benefits being introduced in the old tax regime are slim. When will Union Budget 2025-26 be presented? FM Nirmala Sitharaman will present her eighth consecutive Union budget under Modi 3.0 on Saturday, February 1, 2025. The FM will table the budget in Loksabha at around 11 am. Sitharaman will present the Economic Survey today i.e. on January 31, 2025. Will direct tax code be introduced in this Budget 2025-26? The government is also expected to introduce the Direct Tax Code in this budget session. The aim of this is to simplify the 63-year-old Income Tax Act and make it easier for taxpayers to understand and comprehend income tax.

Budget Session of Parliament: Finance Minister Nirmala Sitharaman to table Economic Survey 2024-25

Finance Minister Nirmala Sitharaman will present the Economic Survey for 2024-25 on Friday, assessing the current economic performance and challenges faced by the nation. Prepared by Chief Economic Adviser V Anantha Nageswaran’s team, the survey outlines developments across various sectors and offers an outlook for the next financial year. On Saturday, Sitharaman will unveil the first full budget of the Modi 3.0 government, with expectations of revised income tax slabs and increased funding for infrastructure, rural development, and education.Budget Session of Parliament: Finance Minister Nirmala Sitharaman to table Economic Survey 2024-25

No hope from Budget 2025: Congress leader Udit Raj

Congress and opposition leaders criticize the government's economic policies as the Budget session begins, citing declines in manufacturing, GDP, and domestic consumption along with rising taxes. President Droupadi Murmu addresses the joint sitting, and several key bills, including banking and disaster management amendments, are set to be discussed.

Vice President Jagdeep Dhankhar calls for debate over disruption in Parliament

Vice President Jagdeep Dhankhar emphasized the need for constructive debate in Parliament, urging an end to disruptions. Addressing the NCW, he praised women's reservation, highlighting its role in empowerment and India's progress. He also called for addressing workplace discrimination, advocating for authentic gender equality and recognizing women's vital contribution to India's development.

FM Sitharaman shares proof of states unable to spend centre's allocation: 'More than 1 lakh crore unused ..'

The Union Finance Minister has urged state governments to utilize over ₹1 lakh crore in unspent balances currently sitting in their accounts before seeking additional funds for various schemes. The Finance Minister emphasized that these funds, which are intended for essential development programs, are remaining unused in State Nodal Agency (SNA) accounts, escrow accounts, and state treasuries as of December 31, 2024.FM Sitharaman shares proof of states unable to spend centre's allocation: 'More than 1 lakh crore unused ..'

Sitharaman on same page with Raghuram Rajan over rupee fall debate?

Finance Minister Nirmala Sitharaman discussed the causes behind the rupee's fall, citing former RBI Governor Raghuram Rajan on the strengthening dollar. She also covered inflation management, jobs, and debt consolidation efforts. The goals of the Budget include accelerating growth, boosting private investment, promoting MSMEs, and development led by employment.

New Income Tax Bill 2025 Live: New Income Tax Bill to be introduced in parliament tomorrow, to have 23 chapters and 536 clauses, say sources

Income Tax Bill 2025 Expectations Live News: FM Nirmala Sitharaman will potentially present the new Income Tax Bill in the parliament on Thursday, February 13, 2025. Announcements regarding the same were made in her Budget 2025 speech on February 1, 2025. The new income tax bill 2025 looks to simplify and overhaul the present income tax act of 1961, which has often been cited as cumbersome, complex, and difficult to understand for the common taxpayers. Experts are hoping that the new draft bill will reduce the volume of the income tax act. As per sources, the new income tax bill is likely to have 23 chapters, 16 schedules and around 536 clauses Income Tax Bill parliametary session date and time FM Nirmala Sitharaman is likely to present the new income tax bill tomorrow, i.e., on Thursday, February 13, 2025. Generally, parliamentary proceedings begin at 11 am. The budget session of the parliament began on January 31st, 2025, and is expected to go on till April 2025. Also Read: When will new income tax bill likely to be implemented? FM Nirmala Sitharaman announcement on tax bill In her budget 2025 speech, FM Sitharaman announced that she will be potentially tabling the new, streamlined income tax bill in the parliament next week. The aim of this bill will be to simplify the 64-year-old Income Tax Act, 1961 What taxpayers can expect from new income tax bill? Simplify tax laws, reduce legal complexities, and make compliance easier Reduce the number of sections by 25-30% to make the tax code straightforward and user-friendly. Extension of Time Limit for Filing Updated Income Tax Returns: Strengthening Anti-Tax Evasion Measures Stricter compliance requirements, increased penalties, and better mechanisms to track undisclosed income could be introduced to curb tax evasion. Greater digitalization and Transparency

RBI boss Sanjay Malhotra joins PM Modi's effort to regain lost growth

India's new central bank governor Sanjay Malhotra is expected to support economic growth amidst the slowdown. He cut interest rates and delayed bank rules to boost credit flow. Growth hit 8.2% in fiscal 2024 but has since declined. The government and Reserve Bank of India aim to maintain balanced policies for economic stability.

Priyanka Gandhi slams FM's reply on Budget debate: 'Don't know which planet she is living on'

The Congress on Tuesday slammed Finance Minister Nirmala Sitharaman's reply to the discussion on General Budget 2025-26, saying it was a "masterclass" on how to shift blame, deflect, and distract from reality. Congress MP Priyanka Gandhi Vadra hit out at Sitharaman, asking which planet is she living on when the issues of inflation, unemployment and price rise are not acknowledged. Replying to a discussion on the General Budget 2025-26, Sitharaman said the inflation trend, particularly food, appears to be moderating. She also said the government is using almost the entire borrowing in 2025-26 towards financing capital expenditure.Priyanka Gandhi slams FM's reply on Budget debate: 'Don't know which planet she is living on'

She did not address many issues: Kanimozhi slams Sitharaman's budget reply

Dravida Munnetra Kazhagam (DMK) MP Kanimozhi on Tuesday slammed Union Finance Minister Nirmala Sitharaman for not addressing key issues during the Lok Sabha debate on the Union Budget, alleging that her response was politically motivated and failed to answer many important questions raised by MPs.

Budget 2025: Nirmala Sitharaman’s roadmap for a ‘Viksit Bharat’ and Gen 2 reforms

Finance Minister Nirmala Sitharaman's budget outlines long-term outcomes in education, health, skills, and employment while emphasizing reforms to enhance government-citizen relationships and stimulate private enterprise. The budget focuses on agriculture, MSMEs, infrastructure, and boosting exports amid global economic uncertainties.

Babu-jis dheere chalna, bring in AI for ease of doing business

Finance Minister Nirmala Sitharaman proposes a high-powered committee to simplify licenses, certifications, permissions, and inspections. This aims to establish a 'trust-based' system, encouraging a shift towards 'innocent till proven guilty'. Emphasis is on deregulating non-financial sectors and using AI to streamline rulebooks and inspections, promising incremental but significant improvements.

New Income Tax bill likely to be introduced in Lok Sabha on Thursday

The Indian government plans to introduce a new Income Tax Bill in the Lok Sabha on Thursday. The move aims for comprehensive consultations, with the possibility of the bill being sent to a Select Committee for review. The bill is part of efforts to simplify the Income-tax Act, 1961, and improve taxpayer convenience, as highlighted by Finance Minister Sitharaman.

FM dispels concern of rise in GST rate, says there is not even one such item

Finance Minister Nirmala Sitharaman assured that no GST rates have been increased since its implementation. She clarified that the average GST rate has decreased from 15.8% to 11.3%. Sitharaman emphasized the collaborative work of state finance ministers in making GST simpler and ensuring rate reductions.

Making Budget more challenging now as global scenario changed 180 degrees in last 10 years: FM Sitharaman in Lok Sabha

Union Finance Minister Nirmala Sitharaman in her reply to the Union Budget debate in Lok Sabha said that This Budget has come at a time of immense uncertainties, and the change in the global macroeconomic environment makes it challenging.FM said that inflation management is the highest priority of this government and overall retail inflation is within the notified tolerance band of 2%-6%. FM said, "I am very grateful that members have chosen to get into the details of the Budget. So, suppose there are challenges that have made the Budget preparation with a lot more uncertainties. In that case, I have to at least put in front of the august House, that there are issues which are of global concern, which also have an impact on our own Budget making."Making Budget more challenging now as global scenario changed 180 degrees in last 10 years: FM Sitharaman in Lok Sabha

India will become developed country in 2047: Praful Patel in RS

NCP MP Praful Patel praised Finance Minister Nirmala Sitharaman for the budget, highlighting India's growth trajectory with initiatives like 'Make in India' and 'Atmanirbhar Bharat'. Patel noted India's rise as the fifth largest economy, projected to be third soon, and emphasized infrastructure development, export growth, and renewable energy. He commended tax reliefs and improvements in connectivity and port infrastructure.

IRDAI takes 856 regulatory actions in FY24

The IRDAI took 856 regulatory actions, including penalties, against insurers in FY24, as informed by Finance Minister Nirmala Sitharaman. Regular inspections and compliance audits are conducted to ensure solvency and governance. Measures include appointing an administrator if insurers act against policyholders' interests.

Budget stocks to buy: Nirmala Sitharaman's Triveni Sangam throws up over 50 ideas

The Union Budget balances tax relief, fiscal discipline, and capex allocation, creating new growth opportunities, particularly in consumption stocks. Brokerages highlight a shift towards immediate economic gains, with a focus on boosting consumption and agriculture. HDFC Securities notes that stimulating consumption now could drive private and public capex revival in the medium to long term.

Chidambaram slams budget in Rajya Sabha, calls it politically motivated

Congress MP Chidambaram criticized the budget for being politically driven and ignoring the poor. He and other MPs expressed concerns over reduced allocations for crucial sectors like agriculture, education, health, and infrastructure. Some MPs praised the budget, citing its potential to propel the country towards development, while others questioned the government's intent and achievements.

Centre releases Rs 1.11 lakh crore interest-free loan to states in April-January

The Centre has released Rs 1.11 lakh crore loan to states during April-January under a capital expenditure scheme. The allocation for interest-free loans in the 2024-25 Budget increased to Rs 1.5 lakh crore. Top beneficiary states include Bihar, Uttar Pradesh, Madhya Pradesh, and West Bengal. Funds promote infrastructure, reforms, and specific projects.

Aam aadmi wants smaller biscuit packs, but brighter jewellery

India’s middle class is balancing rising costs and aspirations by choosing smaller packs for daily essentials while using EMIs for premium products. Easy financing is powering purchases of high-end appliances and jewellery, as households manage their budgets amid inflation and changing consumption patterns.

Budget 2025 full speech: Read FM Nirmala Sitharaman's Union Budget address here

Budget 2025 Download full speech: The 2025-26 Budget introduces measures to accelerate growth, ensure inclusive development, and boost private sector investments. Key proposals include enhancing agricultural productivity, supporting MSMEs, and stimulating employment. Tax reforms and incentives for investment and innovation aim to foster economic resilience and support India's path toward becoming a Viksit Bharat.

Hope to introduce new income tax bill in Lok Sabha next week: FM Sitharaman

Finance Minister Nirmala Sitharaman plans to introduce a new income tax bill in the Lok Sabha next week, aiming to replace the outdated I-T Act from 1961. The bill will undergo scrutiny by a parliamentary committee before final approval. The proposed changes aim to simplify the tax system and reduce legal disputes.

Sitharaman says BJP will transform Delhi in line with 'Viksit Bharat' aspirations

Finance Minister Nirmala Sitharaman expresses confidence that the BJP government will transform Delhi in line with India's development aspirations under Prime Minister Narendra Modi's leadership. She emphasizes the importance of prioritizing human development indicators and fundamental infrastructure like schools and hospitals to serve Delhi's residents effectively.