The Delhi High Court has reserved its order on a plea by jailed MP Rashid Engineer, facing trial in a terror funding case, seeking custody parole to attend the ongoing Parliament session. Engineer, a Baramulla MP, was opposed by the National Investigation Agency (NIA) who argued that he has no vested right to attend Parliament and there were security concerns. The court said though there might not be a vested right to attend the session, it could exercise its discretion. The NIA also argued that Rashid misused the telephone facility in Tihar jail and that allowing him to attend the session would be a security risk.
BJP MP Nishikant Dubey has written to Lok Sabha Speaker Om Birla seeking initiation of breach of privilege proceedings against Congress leader Rahul Gandhi for making "blatant lies and vilification campaign" during his speech in the House. Dubey alleged that Gandhi used his parliamentary privilege to spread canards without authenticating his charges and distorted historical facts during his speech. Gandhi had claimed that mobile phones were not made in India but only assembled here, China has captured the Indian territory, and India had sent Foreign Minister S Jaishankar to the US to get an invite for Prime Minister Narendra Modi for US President Donald Trump's swearing-in ceremony. He also made allegations related to the electoral rolls for the Maharashtra Assembly polls and the law for the appointment of the elections commissioner. Dubey accused Gandhi of misusing the Constitution's Article 105, which accords privileges to parliamentarians for their comments made inside the Lok Sabha and the Rajya Sabha. He urged the Speaker to initiate proceedings against Gandhi, alleging that Parliament's records and proceedings are a testimony to his irresponsible attitude.
'A government whose policies are focused around making the life of ordinary citizens, specially the most deprived sections, richer; a government that prioritises education, health and transport, that doesn't treat its citizens as subjects who must come to it for everything, is rare in our country.' 'When such a government is thrown out, one is left stunned,' notes Jyoti Punwani.
The government will launch a Rs 2-crore term loan for 5 lakh first-time women, SC and ST entrepreneurs, Finance Minister Nirmala Sitharaman said on Saturday.
Finance Minister Nirmala Sitharaman on Saturday said Rs 1.5 lakh crore will be provided towards 50-year interest free loans to states, for infrastructure development. Also, an asset monetisation plan will be launched for 2025-30 period to infuse Rs 10 lakh crore capital in new projects.
The fiscal deficit for FY25 has been pegged at 4.8 per cent of GDP and at 4.4 per cent for FY26, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Budget 2025-26, she said net market borrowings are estimated at Rs 11.54 lakh crore for next fiscal year.
Aland Congress MLA B R Patil resigned as Chief Minister Siddaramaiah's political advisor, alleging he was not receiving grants due to the pre-poll guarantee schemes. Patil, who held the position since December 29, 2023, said he was unable to do anything for his constituency or address any other issues. He also cited the office of profit issue as a reason for his resignation.
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On Friday, January 31, 2025, Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-2025 in the Lok Sabha.
A complaint was filed against Congress leader Sonia Gandhi in Muzaffarpur, Bihar, for her 'poor thing' remark on President Droupadi Murmu. The complaint, filed by a lawyer, seeks registration of an FIR against Sonia Gandhi, Rahul Gandhi, and Priyanka Gandhi Vadra for allegedly disrespecting the country's highest constitutional authority. The court will hear the matter on February 10.
The take by the Economic Survey 2024-25 on work hour week had come weeks after Larsen & Toubro Ltd Chairman and Managing Director SN Subrahmanyan sparked off a raging debate on social media when he said employees should work 90-hour a week, including on Sundays rather than sit at home.
Fitch Ratings on Monday said India's pace of debt reduction is gradual, leaving room for a downside risk to sovereign rating in the eventuality of a significant economic shock. However, the rating agency expressed confidence in India's ability to stick to its medium-term fiscal framework, which aims to reduce debt and bring it on a downward trajectory over time.
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Having missed the target for the current financial year, Finance Minister Nirmala Sitharaman on Saturday proposed to spend Rs 11.21 lakh crore towards capital expenditure (capex) for FY26. However, the capex target is going to be missed by about 93,000 crore for the current financial year.
Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey 2024-25 in the Lok Sabha. The Economic Survey is an annual document presented by the government ahead of the Union Budget to review the state of the economy.
Opposition parties in the Indian Parliament walked out of the Rajya Sabha after their demand for an immediate discussion on the alleged mismanagement at the Maha Kumbh, where a stampede led to several deaths, was rejected. The Chairman of the Rajya Sabha, Jagdeep Dhankhar, declined to suspend the scheduled business of the day to take up the issue, citing his previous rulings regarding notices under Rule 267.
Finance Minister Nirmala Sitharaman on Friday proposed to double the limit for Tax Deduction at Source (TDS) on interest income for senior citizens to Rs 1 lakh, and also increase the threshold to Rs 6 lakh on rent from the current Rs 2.4 lakh.
'The steel industry expects the government to decide on safeguard measures from dumping post-Budget'
Individuals earning up to Rs 12 lakh annually will not have to pay any income tax under the new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class by raising exemption limit and rejigging slabs. For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs 75,000.
Union Minister Ashwini Vaishnaw on Saturday said the Budget 2025-26 maintained the government's continuous push to improve Railways by allocating Rs 2.52 lakh crore to it and approving projects such as manufacturing 17,500 general coaches, 200 Vande Bharat and 100 Amrit Bharat trains, among others.
The Union Budget 2025-26 has allocated over Rs 1,400 crore to the law ministry to meet carry forward expenditure for holding the 2024 Lok Sabha elections and purchase of new electronic voting machines for the Election Commission. The allocation includes Rs 500 crore for the elections, Rs 300 crore for voter identity cards, Rs 597.80 crore for "other election expenses", and Rs 18.72 crore for new EVMs. The law ministry is the nodal agency for the Election Commission, polls, electoral laws, and appointment of members to the poll panel.
As per the Budget memorandum, the government has proposed amendment to Sub-Section 2 of Section 23 of Income Tax Act, which relates to determination of annual value of house properties.
As per the Budget memorandum, the government has proposed amendment to Sub-Section 2 of Section 23 of Income Tax Act, which relates to determination of annual value of house properties.
Finance Minister Nirmala Sitharaman on Saturday announced the removal of import duties on 12 critical minerals, lithium-ion batteries scrap, cobalt products, LED, zinc and 36 drugs for cancer and rare diseases.
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For every rupee in the government coffer, the biggest pie of 66 paise will come from direct and indirect taxes, according to the Union Budget 2025-26 documents. Around 24 paise will come from borrowings and other liabilities, 9 paise from non-tax revenue like divestment, and 1 paise from non-debt capital receipts, the Budget documents said.
RBI's interest rate decision, quarterly earnings and global cues would be the major driving factors for equity markets this week, analysts said adding that the impact of the Union Budget could linger on this week. Trading activity of foreign investors will also be a key driver for the markets, experts noted. "US and India's manufacturing PMI for January to be released on Monday, will be the key macro data to watch out for.
Finance Minister Nirmala Sitharaman on Saturday announced the removal of import duties on 12 critical minerals, lithium-ion batteries scrap, cobalt products, LED, zinc and 36 drugs for cancer and rare diseases.
Finance Minister Nirmala Sitharaman on Saturday announced six new schemes and increased the subsidised Kisan Credit Card (KCC) loan limit to Rs 7 lakh from Rs 5 lakh, targeting everything from unemployment to crop productivity enhancement across the country. Presenting her eighth budget speech in Parliament, Sitharaman positioned agriculture as "the first engine of growth" and unveiled the Prime Minister Dhan-Dhaanya Krishi Yojana, a flagship program targeting 100 agri-districts grappling with low productivity, moderate crop intensity, and below-average credit parameters.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
The government will introduce a new Income Tax bill next week to take forward the "trust first, scrutinise later" concept, Finance Minister Nirmala Sitharaman said on Saturday. In another major reform move, the minister announced that the Foreign Direct Investment (FDI) in the insurance sector will be increased to 100 per cent from 74 per cent.
The time limit is proposed to be extended from the current two years to four years.
Union Finance Minister Nirmala Sitharaman is often known for making statements with her sarees on Budget Day. Each year, she wears a saree that represents India's rich textile heritage and traditional craftsmanship, and this year was no different. This year, Sitharaman chose to wear a beautiful off white saree with intricate golden work, paired with a red blouse and a shawl while carrying her trademark 'bahi-khata', a tablet wrapped in a red-coloured cloth with a golden-coloured national emblem embossed on it.
An Income-Tax Department internal committee reviewing the old direct tax law to pave the way for a new one has "largely" received suggestions for "simplifying" the language, better "structuring" the provisions and enlarging the ambit of schemes like presumptive taxation, CBDT chairman Ravi Agrawal said Sunday. Speaking to PTI during a post-Budget interview at his North Block office, Agrawal said the panel also "studied" the deliberations and processes of countries like the UK, Australia and some others where a similar tax law simplification exercise was undertaken.
'We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.'
'When people have money in their hands, they make their judgment about whether they want to spend it entirely or spend some out of it.'
The President's office has condemned comments made by Congress leaders regarding President Droupadi Murmu's address to Parliament, stating that they hurt the dignity of the high office. The statement clarified that the President was not tired during her speech and that the comments were in "poor taste" and "unacceptable." The Congress leaders had reportedly discussed the speech, with Sonia Gandhi commenting on the President's alleged tiredness. The statement suggested that the leaders may have misunderstood the President's speech due to their unfamiliarity with Indian languages.
As the Union Budget 2025-2026 (FY26) inches closer, the Indian real estate industry is seeking stamp duty cuts, revised home loan limits and updated affordable housing norms through Pradhan Mantri Awas Yojna (PMAY), single-window clearance and eco-friendly policies, among others. Industry leaders and consultancy firms, including Anarock, Raheja, Gaurs, Kanodia Group, Reach, Urban Space, Justo and Eros Group, have shared their expectations.
The Bharatiya Janata Party (BJP) spent Rs 1,737.68 crore for the 2024 Lok Sabha elections, according to the expenditure report submitted to the Election Commission of India. A majority of the funds were allocated to general party propaganda and candidate-related expenses, with media advertisements accounting for a significant portion. The BJP's election outreach also included extensive use of publicity materials and campaign-related travel. The party's expenditure on public meetings, processions, and rallies, including arrangements for stages, audio setups, barricades, and vehicles, stood at Rs 19.84 crore. The travel expenditure of star campaigners authorized by the party's central headquarters amounted to Rs 168.92 crore, while Rs 2.53 crore was spent on the travel of other party leaders.
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