In a boost for the middle class, Finance Minister Nirmala Sitharaman, in her Union Budget 2025 presentation, unveiled a major overhaul of the new tax regime, introducing a zero-income tax slab for taxpayers earning up to Rs 12 lakh annually under the new tax regime.
The Indian government and the Asian Development Bank (ADB) on Thursday signed a $50 million loan to build a climate-adaptive water harvesting project in Meghalaya.
Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, on Saturday invited Mexican investors to explore opportunities in India's Global In-House Capability Centers (GICCs), aircraft leasing, ship leasing, and even foreign university setups at GIFT-IFSC, which is emerging as a global hub for reinsurance and sustainable finance.
Fiji and Japan signed an exchange of notes on Wednesday for a second stand-by disaster loan financing of around 72.0 million Fijian dollars (around 32.4 million US dollars), which will assist in any future needs for disaster recovery and rehabilitation.
Atsushi Mimura, Vice Minister of Finance for International Affairs, Japan, and Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, India held the dialogue 6th September, the Ministry of Finance said in a statement.
A high-level Parliamentary panel has suggested to the government to look into the possibility of developing a mechanism for online audit in GST, in order to make the process more efficient and less intrusive.
Small and Medium-Sized enterprises account for 29 per cent of the nation's GDP, 49 per cent of exports, and more than 63 million businesses nationwide says Umesh Revankar, Executive Vice Chairman, Shriram Finance.
The greed of Indian corporate promoters is unparalleled. There is a saying in the stock market that promoters recover their investment by bringing in their first IPO in which they sell their shares to the public at highly inflated prices. This saying has more than a grain of truth in it; almost all share issues are priced at many times of their face value; typically, a share with a face value of Rs.10 is offered to the public at Rs.600-Rs.700
Answering a question on India's economic prospects in the face of global uncertainty, Sitharaman said India is now setting global standards and countries around the world recognise this scale of achievement.
State Finance Minister Cheema said that Chief Minister Bhagwant Mann led Punjab government has estimated a GST collection of Rs 20,550 crore in its maiden budget for the financial year 2022-23.
