The Indian government is set to offer a ₹35,000 crore subsidy to state-owned oil companies Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOC), and Hindustan Petroleum Corporation Ltd (HPCL). This will help cover the losses these companies have faced due to the selling price of LPG remaining unchanged while input costs have increased. …
India’s agricultural sector plays a pivotal role in its economy, employing approximately 46% of the nation’s workforce. Despite India being one of the world’s largest agricultural producers, the sector is beset with significant challenges. These include low profitability for farmers, inadequate infrastructure, limited market access, and reliance on traditional farming methods. As per Deloitte’s report, …
In a significant move to bolster the microfinance sector, Shri M Nagaraju, Secretary of the Department of Financial Services (DFS), Ministry of Finance, chaired a pivotal meeting in New Delhi with major Micro Finance Institutions (MFIs). The meeting was attended by senior officials from DFS and representatives of industry bodies such as MFIN and Sa-Dhan. …
As the Union Budget 2025 approaches, individual taxpayers, especially senior citizens, are hopeful for much-needed relief from rising inflation and escalating healthcare costs. One of their key demands? Increased tax deductions on interest income from savings and fixed deposits under Sections 80TTA and 80TTB of the Income Tax Act. Finance Minister Nirmala Sitharaman will present …
National Tourism Day is celebrated every year on January 25 in India. The purpose of this day is to raise awareness about the economic benefits of tourism in the country. It highlights India’s natural beauty, cultural diversity, and rich heritage. This day encourages tourists to explore various parts of the country, boosting the economy. What …
The Indian retail sector has become one of the most dynamic and rapidly evolving industries, driven by the influx of new players and innovative business models. According to IBEF, as of November 2024, the retail industry contributes over 10% to the country’s Gross Domestic Product (GDP) and provides employment to nearly 8% of the workforce. …
In a strategic move ahead of Union Budget 2025, the Appointments Committee of the Cabinet (ACC) approved significant changes to top positions within the Ministry of Finance. These changes, announced on Wednesday, January 8, 2025, reflect the government’s focus on gearing up for the budget presentation on February 1 by Finance Minister Nirmala Sitharaman. Key …
In a record-breaking move, India has revised its November 2024 gold import estimates downward by a staggering $5 billion. This unprecedented adjustment follows errors in preliminary calculations that initially reported a historic high in gold imports. The correction has significant implications for the country’s trade deficit and financial market outlook, shedding light on the intricacies …
As India gears up for the Union Budget 2025, the Technology, Media, and Telecommunications (TMT) sectors are keenly awaiting potential policy measures that could drive their growth and streamline operations. Recently, a report has been published by Deloitte, talking about the expectations of different sectors from the Union Budget 2025. With the growing importance of …
The Association of Mutual Funds in India (AMFI) has put forward a 15-point proposal for the Union Budget 2025-26. Among these, the top priority is restoring tax benefits for debt funds, including indexation benefits, which were removed in Budget 2024. This proposal also includes revising tax rates on capital gains and redefining equity-oriented funds to …
