The Union Budget 2025-26 may bring good news for FD investors, with potential tax exemptions on fixed deposit income and shorter lock-in periods for tax-saving FDs. FM Nirmala Sitharaman is expected to introduce measures to boost FD investments and address banking sector liquidity challenges.
Budget 2025: Finance Minister Nirmala Sitharaman to present the Union Budget on February 1, 2025, at 11:00 AM. Stay tuned for live updates on income tax relief, fiscal reforms, and stock market reactions as the Modi government unveils its fiscal roadmap.
India’s GST collection for December 2024 surged by 7.3 per cent, reaching Rs 1.77 lakh crore, driven by robust economic activity and improved compliance. Highlights include Rs 86,400 crore in IGST and Rs 19,500 crore in cess. Top contributors: Maharashtra, Karnataka, Tamil Nadu, and Gujarat.
Ahead of the Union Budget 2025, the Union Finance Minister Nirmala held a pre-consultation meeting with the finance ministers of the states and UTs. During the meeting, the states raised key demands from the Centre.
The Lok Sabha on Tuesday approved the Supplementary Demands for Grants- First Batch of 2024-25. During the proceedings, Finance Minister Sitharaman said the effective capex is pegged at Ts 15.02 lakh crore.
The GoM report is expected to be discussed by the GST Council during the meeting which will be chaired by Union Finance Minister Nirmala Sitharaman.
Finance Minister Nirmala Sitharaman said the Congress brazenly kept amending the Constitution to help family and dynasty and added that India's Constitution has stood the test of time.
FM Nirmala Sitharaman in Lok Sabha said the public sector banks are profitable as the total profit was Rs 85,520 crore in first half of current fiscal.
The Banking Law (Amendment) Bill 2024 aims to streamline banking operations and align them with contemporary financial practices, reflecting the government’s commitment to improve bank governance and enhance investors' protection.
Finance Minister Nirmala Sitharaman's reaction to a social media user who sought relief from inflation created a buzz on X. People are divided on her statement on X.
In a significant development, the Karnataka High Court stayed further investigation till October 22 in the FIR filed against former Karnataka BJP President Nalin Kumar Kateel and FM Nirmala Sitharaman.
An FIR has been filed against Union Finance Minister Nirmala Sitharaman following allegations of electoral roll fraud. The case involves BJP leaders and Enforcement Directorate officials under charges of extortion and conspiracy. The controversy has sparked a political debate.
Under the NPS Vatsalya scheme, parents can open a pension account for their children and make a minimum annual contribution of Rs 10,000 per annum. After the child is 18 years of age, the account automatically gets converted into a normal NPS account, which the holder can continue.
NPS Vatsalya: If parents contribute Rs 10,000 annually to their child's NPS Vatsalya account for 18 years, a fund of Rs 5 lakh will be accumulated at an estimated return of 10%.
Finance Minister Nirmala Sitharaman highlighted the crucial role of banks in India's vision for 2047. She called for enhanced infrastructure development, MSME support, financial inclusion, and digital security while praising the global success of UPI.
NPS Vatsalya Scheme Overview: Finance Minister Nirmala Sitharaman has introduced the NPS Vatsalya scheme, allowing parents to open pension accounts for their minor children. Aimed at securing long-term financial stability, the scheme converts to a regular NPS account when the child turns 18.
NPS Vatsalya Scheme: The Union Finance Minister will also launch an online platform for subscribing to NPS Vatsalya, release of scheme brochure, and distribute Permanent Retirement Account Number (PRAN) cards to new minor subscribers.
The 54th GST Council meeting introduced several key changes in GST rates, including reductions for cancer drugs and adjustments for various goods. Notable updates include a rate cut for extruded snacks, a new reverse charge mechanism for metal scrap, and an increase in GST rates for car seats.
There has been a widespread demand to remove the 18 per cent GST on health insurance premiums so that the extra burden is not imposed on the insured, thereby increasing the ambit of coverage.
The Fitment Committee, comprising the Centre and state tax officials, on Monday presented a report giving data and analysis and implications of GST reduction on life, health and reinsurance premiums.
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