Financial Express Chennai - February 03, 2025
Financial Express Chennai - February 03, 2025
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In this issue
February 03, 2025
MGNREGA outlay in FY26 based on demand scenario
Reduction in outlay for centrally sponsored schemes by about ₹91,000 crore in the revised estimate for FY25 was due to large unspent balances with states, expenditure secretary Manoj Govil tells Prasanta Sahu.
2 mins
Size of Income Tax Act to reduce by half in new Bill
The government has tried to remove redundancies in the Income Tax Act-1961, under the Bill to be tabled next week.
1 min
Modi pitches I-T relief to woo Delhi voters
AS CAMPAIGNING FOR elections to the Delhi Assembly entered the last lap, Prime Minister Narendra Modi Sunday highlighted the many \"benefits\" of the Union Budget presented a day earlier, calling it \"the most middle class-friendly Budget in the history of the country\".
1 min
'Budget measures target 6.8% GDP growth in the next fiscal'
The substantial tax relief and other measures meet the expectations of the people and the larger economy's need to support consumption and investment, which can lead to a 6.8% growth next year, economic affairs secretary Ajay Seth tells Prasanta Sahu in an interview. The degree of fiscal consolidation may vary through years, but would stay the course to bring down debt-GDP to around 50% by FY31, he says. Excerpts:
2 mins
India Might Face US Tariffs Despite Pre-emptive Move
The global trade war triggered by US President Donald Trump might soon involve India too, while this is the last thing New Delhi would want at this juncture, with its economy witnessing a slowdown.
2 mins
Vedanta demerger to broaden investor base, says Agarwal
THE DEMERGER OF Vedanta Limited into four separate entities will broaden the conglomerate's investor base, and allow new investors to choose among the new entities and the sectors they represent, chairman Anil Agarwal said in a note to shareholders.
1 min
Duty cut on certain inputs to boost exports: Govt
THE REDUCTION IN customs duties in the Budget on certain inputs from sectors like marine, chemicals and critical minerals will help promote domestic manufacturing and enhance exports, according to the commerce ministry.
1 min
Tech sector confident of GCCs' rise in tier II cities
THE TECH SECTOR is confident that the government's move towards creating a national framework for creation of Global Capability Centres in emerging tier II cities, will yield positive results and see the emergence of talent hubs beyond Bengaluru and some other metropolitan centres.
1 min
Reliance brings Shein back to India
RELIANCE RETAIL HAS launched an app in India to sell fashionwear from China's Shein under a licensing deal, almost five years since Shein's app was banned in the country after getting caught up in a diplomatic tussle.
1 min
Regulatory clarity, risk-sharing tools hold key to reforms in power sector
THE BUDGET PAVED the way for the crucial reforms needed in the power sector—strengthening of the distribution and transmission segment while enabling a clear path for the non-fossil energy to meet the country's net zero targets.
1 min
PLI Outlay for FY26 at ₹19,500 Crore, Up 76%
The disbursement of incentives under the Production Linked Incentive (PLI) scheme is expected to almost double in the next financial year from the payouts for the current financial year, and the sectors that will lead the pack would be electronics, auto, and pharma.
1 min
Smartphones grab the largest share in incentive schemes
THE SMARTPHONE PRODUCTION-LINKED incentive scheme, the most successful of the 14 PLIs, has topped the allocation at ₹8,885 crore in the Budget 2025-26, significantly higher than allocations for PLI schemes of other ministries.
1 min
Volkswagen sues India to quash $1.4-bn tax demand, filing shows
Legal Battle
2 mins
Industry expects 10% rise in ad spends in H1FY26
WHILE THERE WERE no direct incentives in the Budget for the advertising and media industry in terms of GST relief or easing the content creation process, the industry is expecting a 10% increase in the overall ad expenditure in the first half of FY26, thanks to the expected surge in discretionary spending.
2 mins
AI Mission to Take Off with Fresh Allocation
The ₹10,000-crore IndiaAI mission is set to take off with the government chalking out plans for creating a domestic foundational model on the lines of US and China.
3 mins
New tax sops: Selling health, life policies may get tougher
INSURERS COULD FIND it hard to sell life and health insurance policies, as the enhanced benefits under the new income tax regime reduce their appeal, particularly for those investing for tax-saving purposes.
1 min
Second SWAMIH Fund may find fewer takers as property sales remain robust
THE SECOND SPECIAL Window for Affordable and Mid-Income Housing (SWAMIH) Fund could find less takers than the first one, given the buoyancy in property sales, say lenders, developers and consultants.
2 mins
Limiting carrying forward of losses a 'double-edged sword'
THE PROPOSAL IN the Budget to amend the tenure for carrying forward of losses after a merger could be a double-edged sword, according to M&A (mergers & acquisitions) and tax experts.
2 mins
Markets to focus on earnings, RBI policy
FPI Outflows may keep the indices under pressure
3 mins
Govt may borrow more via long-term bonds
Rising interest from pension funds and insurers, say experts
1 min
Tax incentives expected to lift bank deposits
BANKS ARE EXPECTED to gain from the income-tax incentives announced in the Budget, as the resultant rise in disposable income is expected to bolster current account savings account (CASA) deposits.
2 mins
Additional tax may impact voluntary updated returns
Late voluntary disclosures now come at a hefty price
2 mins
Opting for a rented place may be better
Check your final tax liability to make the right choice
1 min
Tough to evade taxes on crypto income now
I-T dept will gather third-party data on crypto transactions, says Neetu Brahma
1 min
You still need EPF, NPS, insurance
Don't ditch these just because tax incentives are gone
3 mins
Pre-empting Trump 2.0
IN THE CONTEXT OF A MORE COMPLEX TRADE LANDSCAPE, BRACING FOR SHOCKS IS THE APT STRATEGY
4 mins
Elephants in the room
Budget done, markets are now looking at monetary policy, earnings and Trump's tariff tantrums
2 mins
Innovation time
WHILE THERE WERE no direct incentives for the industry in terms of GST reliefs or easing the content creation process, a significant boost for the sector stems from the considerable reduction in income tax slabs.
1 min
Growth trigger
TAX RELIEF OF up to ₹12 lakh isn't just a policy shift—it's a direct trigger for higher consumer spending.
1 min
Forging a stronger link
New guidelines will help grow trust and engagement
3 mins
A steamer to smooth out wrinkles
It heats up quickly and works well on all kinds of fabric
1 min
Great for listening to music outdoors
They are a good combination of sound and style
2 mins
A string of boosters for the tech sector
A clear intent to anchor India as a global R&D hub
1 min
FMCG firms
IN MUMBAI, FOR instance, where public transport is common, the minimum auto and cab fares have been raised by ₹3 each beginning Saturday, which is expected to hurt the middle class.
1 min
Trump triggers tariff wars
PRIME MINISTER BENJAMIN Netanyahu left Israel on Sunday for a meeting with US President Donald Trump that he hopes will reset relations with Washington after tensions with the previous administration over the Gaza war.
2 mins
Quality of capex has improved
EXPLAINING THE THOUGHT that went behind the big announcement, Sitharaman said the tax cuts were in the works for some time.
2 mins
Netanyahu Heads to US to Meet Trump
PRIME MINISTER BENJAMIN Netanyahu left Israel on Sunday for a meeting with US President Donald Trump that he hopes will reset relations with Washington after tensions with the previous administration over the Gaza war.
1 min
Time ripe for rate cut, says fin secy
\"Were the outside situation favourable, it would have shown in export momentum, but that's not the case...we're a labour surplus economy, we could have boosted production, but that's not happening.\"
1 min
Musk team now has access to US' payment system
THE DEPARTMENT OF Government Efficiency, run by President Donald Trump's billionaire adviser and Tesla CEO Elon Musk, has gained access to sensitive Treasury data, according to two people familiar with the situation.
2 mins
Setting New Benchmark for Inclusive Development
Amidst rising global protectionism that challenges international trade, the finance minister's eighth Budget reaffirms India's commitment to play a dominant role on the world stage through forward-looking economic policy changes, while aligning to the previous glide path on fiscal deficit.
2 mins
Key takeaways: Job creation in agri and MSME in focus
THE UNION BUDGET presented by finance minister Nirmala Sitharaman is fiscally prudent, prioritises consumption, provides for capex, and focuses on job creation—much-needed elements for Viksit Bharat.
2 mins
Take-off time at Axis Bank
IN LATE APRIL last year, Axis Bank became India's third-most-valued private sector lender.
3 mins
India beat England by 150 runs, bag series 4-1
IRRESISTIBLE ABHISHEK SHARMA toppled records en route a 54-ball 135, the second-fastest century and the highest score by an Indian batter in T20Is, as the hosts crushed a feeble England by 150 runs in the 5th T20I to take the series 4-1 here on Sunday.
1 min
India Outclass SA To Win 2nd Women's Under-19 T20 Title
A DOMINANT INDIA flaunted their embarrassment of riches to win a second successive U-19 Women's T20 World Cup title with a nine-wicket shellacking of South Africa here on Sunday, the triumph giving a peek into the game's most perfectly calibrated youth structure.
2 mins
Financial Express Chennai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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