Hindustan Times Mumbai - February 02, 2025
Hindustan Times Mumbai - February 02, 2025
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In this issue
February 02, 2025
Paying Overseas College Fee Easier, But Little Else Changes
When Veena Mathew sent her 23-year-old son to pursue computer science in London last year, she didn't just take on a ₹50 lakh education loan—she also had to navigate India's complex tax collection system on foreign remittances.
2 mins
Now, you get 4 years to file updated ITR
In case taxpayers forgot to report some income while filing returns anytime in the past four fiscal years, Budget 2025 has good news for them.
3 mins
Revamped central KYC registry to simplify investor onboarding
India's financial sector is poised for a significant transformation as the government announces plans to overhaul its know-your-customer (KYC) system, moving towards a centralised framework.
1 min
Thresholds on TDS, TCS relaxed in major reprieve for salaried class, senior citizens
The Union Budget for FY26 has raised thresholds for tax deducted at source (TDS) across various income sources.
3 mins
Curbs on 2 self-occupied homes lifted in key tweak
The Union Budget 2025-26, unveiled by finance minister Nirmala Sitharaman on Saturday, has proposed to lift restrictions on claiming two properties as self-occupied (SOP), streamlining the process for taxpayers.
1 min
Financial regulations pave way for responsive policies
SET UP IN 2010, THE FSDC HAS WORKED TO STREAMLINE AND STABILISE THE FINANCIAL SECTOR THROUGH INTER-REGULATORY COORDINATION
2 mins
Relief on lifesaving medicines will ease patients' burden
THE GOVT'S MOVE TO SET UP DAY-CARE CENTRES WILL ALSO HELP IN HANDLING THE INCREASING LOAD OF CANCER CASES, SAY EXPERTS
2 mins
3 Ministries Join Hands With Focus On Exports: Goyal
The commerce, MSME and finance ministries will work together to identify various sectors — which will require maximum capital support for technology upgradation, marketing, brand building, and accessing newer markets — to boost exports, Union Minister Piyush Goyal said on Saturday.
1 min
Gig economy set to be formalised
Hyperlocal service platforms have revolutionised the job landscape in the transportation, food delivery, and home services industries by creating flexible employment
3 mins
Will invest in people, economy, innovation
Minister announces setting up multiple schemes to boost innovation through PPP models and key industry reforms
3 mins
100% FDI fillip for insurance, but firms must invest in India
Union finance minister Nirmala Sitharaman on Saturday announced the government's plan to allow 100% foreign direct investment (FDI) in the insurance sector, up from the current 74%, on the condition that foreign firms would invest the entire premium collected in India, a move that experts said would make additional funds available to Indian infrastructure projects.
1 min
In AI stimulus, govt allots ₹500 crore for Centre of Excellence in education
The central government will set up a centre of excellence (CoE) in Artificial Intelligence (AI) for education with an outlay of ₹500 crore, Union finance minister Nirmala Sitharaman announced in her budget speech on Saturday, outlining a major push for future technologies.
2 mins
Fund of Funds expected to benefit over 161K startups
We believe the increased financial support from govt alongside efforts to reduce capital constraints will further accelerate growth of startups. ARCHANA JAHAGIRDAR, founder of Rukam Capital
2 mins
New 5-year target set to cut Centre's debt to 50% of GDP
Union Budget has sought to signify the govt's commitment to fiscal prudence and infra creation
3 mins
Focus on creating jobs, skill training
The Narendra Modi government on Saturday substantially increased its fund allocations for skill trainings and livelihood programmes in the Union Budget 2025-26 as part of its ambitious target of having 100% skilled labour with meaningful employment in the country.
2 mins
Bhutan gets lion's share in external aid allocation
India's close partner Bhutan once again garnered the largest share of the government's external aid portfolio, with an outlay of ₹2,150 crore in the 2025-26 Budget, which also retained ₹100 crore to develop Iran's Chabahar port.
2 mins
Defence Spending Hiked Amid Push for Modernisation
India on Saturday set aside more than ₹6.81 lakh crore for defence spending in the Union Budget for 2025-26, including ₹1.8 lakh crore for the modernisation of the military at a time when its shopping list encompasses fighter jets, helicopters, warships, submarines, tanks, artillery guns, drones, and rockets and missiles.
1 min
New scheme in offing to push fruits, vegetables, millets yield
The government is set to launch a programme to expand the output of vegetables, fruits, and millets amid rising demand for nutritious foods, finance minister Nirmala Sitharaman said while presenting the Union Budget for 2025-26.
1 min
50 new tourist spots on anvil to boost jobs
INITIATIVE INCLUDES GROWTH OF BUDDHIST CIRCUITS, MEDICAL TOURISM FACILITIES
2 mins
KCC Loan Limit Up To ₹5 Lakh, To Benefit 77 Million Farmers
Finance minister Nirmala Sitharaman on Saturday announced the decision to increase the subsidised Kisan Credit Card (KCC) loan limit to ₹5 lakh from ₹3 lakh, benefiting 77 million farmers, fishermen, and dairy farmers.
1 min
FM: 6-yr mission to boost pulses output
Finance minister Nirmala Sitharaman, presenting the Union Budget 2025-26, announced the launch of a six-year mission to boost output of pulses to help achieve self-sufficiency of three widely consumed varieties.
2 mins
Govt plans to augment farm productivity in 100 districts
Govt to roll out PM Dhan-Dhanya Krishi Yojana, which will target regions with low farm productivity and crop intensity
2 mins
India Post's push to partner with logistics startups
THE POSTAL SERVICE MAY HELP E-COMMERCE REACH REMOTE CORNERS OF THE COUNTRY, ADDING UNTOUCHED ZIP CODES TO LOGISTICS PLAYERS
1 min
10,000 Additional Medical Seats, 6,500 More in IITs in Edu Push
Finance minister Nirmala Sitharaman, while presenting the Union Budget 2025-26 on Saturday, announced that the government will add 6,500 more seats at Indian Institutes of Technology (IIT) and 10,000 more medical seats next year to accommodate more students.
2 mins
Centre Unveils ₹1L-Cr Urban Challenge Fund, Revamped PM-Svanidhi
An urban challenge fund of ₹1 lakh crore to transform cities into \"growth hubs\"; ₹15,000 crore fund for SWAMIH 2.0 (special window for affordable and mid-income housing) to construct 100,000 \"stuck\" housing units; and enhanced bank loans and UPI-linked credit cards under the revamped PM SVANidhi (Street Vendors Atma Nirbhar Nidhi) scheme — these were the major announcements made for the urban sector by Union finance minister Nirmala Sitharaman in her budget speech on Saturday.
1 min
UDAN Scheme To Add 120 New Destinations In Next 10 Years
Finance minister Nirmala Sitharaman announced on Saturday that the government will launch a modified version of its regional connectivity scheme, UDAN (Ude Desh Ka Aam Naagrik), which will set out to connect 120 new destinations over the next decade.
1 min
Push for clean energy, critical minerals
Nuclear energy is expected to form a significant part of the energy mix for Viksit Bharat (developed India), Union finance minister Nirmala Sitharaman said in her budget speech on Saturday, as she announced a ₹20,000 crore allocation for a programme for the research and development (R&D) of small modular reactors.
3 mins
₹15k-cr SWAMIH fund to help stalled projects
EXPERTS SAID THE FUND WILL HELP MIDDLE-CLASS FAMILIES, WHO ARE JUGGLING HOME LOANS AND PAYING RENT FOR ALTERNATIVE ACCOMMODATION
2 mins
Delhiites Hail Tax Relief Up To ₹12-L Income
The Union Budget presented on Saturday and its most talked-about takeaway, a big tax break for the middle class, brought cheer to a wide swathe of Delhiites and triggered the possibility that the big-bang announcement could move the needle in the upcoming assembly elections in favour of the Bharatiya Janata Party (BJP).
2 mins
Budget aimed at poll gains, offers no fix for ailing economy: Oppn
Opposition parties denounced the Union Budget on Saturday, saying it was focused on ensuring electoral gains for the ruling dispensation in poll-bound states while ignoring key economic concerns and needs of a large section of society.
1 min
Relief for middle class in poll season
The Union Budget's tax breaks for the middle class were given with an eye on upcoming assembly elections in Delhi and Bihar, and were an overture to a demographic that used to be a loyal vote bank of the Bharatiya Janata Party (BJP) but whose lukewarm response contributed to the party's sub-par performance in the 2024 general elections, said leaders aware of discussions.
3 mins
₹60K-cr projects, tourism push for poll-bound Bihar
Budget progressive and futuristic. It will help accelerate the state's growth NITISH KUMAR, Bihar CM
2 mins
Riding on optimism, promising the riches
Optimism seems to be the key sentiment driving the FY26 Union Budget.
3 mins
Agriculture Budget Is Big On Strategic Vision
The chief economic adviser termed agriculture \"the sector of the future\" at the release of the Economic Survey 2024-25.
3 mins
A High-Class Budget for Middle-Class India
In a giant leap of faith, the finance minister has put over ₹1 lakh crore in the pockets of income tax paying Indians, betting on better compliance and more scrutiny for higher future revenues, and higher consumption and savings for growth
3 mins
Six smart themes that define Budget 2025-26
The finance minister's eighth budget has an internal consistency, which should help the government pursue and deliver on the targets in its focus areas
4 mins
Aarey road repair work causing pollution, traffic
Repairs to the newly concretised Aarey Milk Colony Road are once again inconveniencing commuters who use it to travel between Goregaon and the eastern suburbs.
1 min
22-Year-Old Woman Killed by Ex-Boyfriend in New Panvel
A 22-year-old woman was brutally murdered by her ex-boyfriend at her residence in Khandeshwar near Panvel on January 31.
1 min
IPS officer's husband booked in 1 more case
The Economic Offences Wing (EOW) of the Mumbai police has registered a second case against Purshottam Chavan, husband of a Maharashtra cadre IPS officer; this time for allegedly cheating six people to the tune of more than ₹7.42 crore by promising them plots of land, owned by the government and Bombay Port Trust (BPT), at discounted rates.
1 min
New auto and taxi fares delayed as recalibration of metres yet to begin
The revised fares for Mumbai's autorickshaws and taxis, which include a ₹3 hike in the base fare, were set to take effect on February 1 but remain unimplemented due to delays in recalibrating electronic meters.
1 min
MPID Court Rejects Discharge Plea of Accused's Wife in Scam
A special Maharashtra Protection of Interest of Depositors (MPID) court on Friday refused to discharge Shivangi Mehta, 34, who was booked along with her husband, Ashish Mehta, by the Economic Offences Wing (EOW) of the Mumbai police in a multi-crore cheating case.
1 min
Woman Arrested in Torres Jewellery Fraud Case Gets Bail
A special MPID (Maharashtra Protection of Interest of Depositors Act) court in Thane granted bail to a woman arrested in the Torres Jewellery fraud case in which scores of investors from Mumbai Metropolitan Region were duped of crores of rupees.
1 min
Mahayuti hails 'dream budget'; MVA finds flaws
Budget 2025: What Maharashtra Got
3 mins
Top industrialists join hands to set up new univ in Pune
Nayanta University, which received approval from state govt last week, is set to begin its academic journey in Aug 2025
2 mins
At Kumbh stampede site, Yogi targets 'opponents' of Sanatana
In his first visit to the Maha Kumbh after the January 29 stampede, Uttar Pradesh chief minister Yogi Adityanath on Saturday praised the saints for \"acting with such restraint\" that day as he took a veiled pot-shot at political opponents, saying they tried to besmirch the glory of the mega event so that it \"becomes a matter of great global embarrassment\".
1 min
Woman Raped, Murdered, Her Body Burnt in U.P.; One Arrested
A 21-year-old woman was allegedly raped and strangled to death by her brother-in-law and two others, after which they burned her body in an attempt to destroy evidence in Muzaffarnagar district of Uttar Pradesh, police said on Saturday, adding that the key accused has been arrested.
1 min
UP Dalit Woman Found Dead; Rape Suspected
The body of a 22-year-old Dalit woman, who was missing since Thursday, was found unclothed in a desolate canal near her village in Ayodhya district of Uttar Pradesh, police said on Saturday.
1 min
8 Maoists killed in gunfight in Bastar; weapons recovered
Security forces shot dead at least eight Maoists in the Bastar region of Chhattisgarh on Saturday, officials aware of the matter said, taking the number of rebels killed in the state this year to 55 amid an uptick in anti-Left Wing Extremism (LWE) operations.
2 mins
60-Year-Old Man Diagnosed With GBS Dies in Pune Hosp
This is state's fifth GBS death; suspected cases now at 149
2 mins
NCP refuses to concede Raigad
Twelve days after chief minister Devendra Fadnavis put on hold the appointment of guardian ministers in Raigad and Nashik districts following an objection by the Eknath Shinde-led Shiv Sena, the impasse over the appointments continues.
1 min
Shinde aide says merger of two Senas still possible
We still share good relations as we are old colleagues. A merger of the two Senas is possible if both of us accept our mistakes and come forward SANJAY SHIRSAT, Shiv Sena
2 mins
Frame Rules for EV Charging Points in CHS: HC to State
The Bombay high court has directed the state government to frame rules for cooperative housing societies (CHS) to allow their members to install charging points for electric vehicles (EVs).
1 min
Air ambulance crashes in US city, 7 killed
A medical transport jet transporting a child who had just completed treatment for a life-threatening condition, her mother and four crew members crashed into a Philadelphia neighborhood shortly after takeoff on Friday evening, exploding in a fireball that engulfed several homes.
2 mins
Pak: 23 Terrorists, 18 Soldiers Killed in Balochistan
The Baloch Liberation Army separatist group claimed responsibility for the attack on Saturday
2 mins
Salah's controversial penalty helps Liverpool extend lead atop table
Mohamed Salah's controversial penalty put Liverpool on course for a 2-0 win at Bournemouth as the Premier League leaders moved nine points clear on Saturday.
1 min
Sports and youth affairs budget raised by over ₹350cr; Khelo India gets ₹1000cr
The government's flagship Khelo India programme to scout and nurture athletes at the grassroots level was the biggest beneficiary as the allocation for sports and youth affairs was hiked substantially by ₹351.98 crore in the Union Budget.
1 min
Srihari, Sajan reset goals this season
The ambience at the newly-built swimming complex here is electric with packed stands cheering the participants of the 25th National Games.
1 min
Indian Derby: Santissimo favourite in big field
With a stellar lineup of 16 competitors, the highly anticipated HPSL Indian Derby is set to be an electrifying contest at the iconic Mahalaxmi Racecourse here on Sunday.
2 mins
Fearless approach helping India make T20 transition
The world champions are fostering a culture where players deliver without worrying about preserving wickets or spots
3 mins
Teenager Kartik Lands a First, Niemann in Lead
On another fog-truncated day when seasoned pros struggled at the DLF Golf and Country Club course, teenager Kartik Singh provided the bright spark in the International Series India event on Saturday.
1 min
Mumbai Keep QF Hopes Alive With Massive Win
Shardul Thakur and Tanush Kotian grabbed four wickets each as a rampant Mumbai stormed to an innings and 456-run win over Meghalaya here on Saturday to keep their hopes of qualifying for the Ranji Trophy knockouts alive.
2 mins
Mukund, Ramkumar give India lead vs Togo
Togo came to the Delhi Lawn Tennis Association (DLTA) complex here after 10 Davis Cup wins on the trot.
1 min
Used to think 'Main kab heroine banungi', says Monalisa
Monalisa, the girl who became an internet sensation after her pics from the ongoing Maha Kumbh Mela went viral, says that she always had \"Bollywood dreams\".
1 min
Udit Narayan Jha On Backlash For Kissing Fans
After a video showing him kissing a fan on the lips sparked outrage online, the singer says this is how fans show love
1 min
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