Benchmark indices ended flat in a special trading session on Saturday
Finance Minister Nirmala Sitharaman has kept the outlay provided for capital expenditure (capex) in the Railways at Rs 2.65 trillion, almost the same as the 2024-25 budget estimate
Higher collections have also resulted in calls to use the opportunity to simplify the goods and services tax structure
The FM announced income tax relief for middle-class households to the tune of $12 billion (0.3 per cent of GDP), which is expected to give a significant boost to urban consumption and savings
The six-year roadmap until FY31 aims to bring down the debt-to-GDP ratio to a range of 47.5-52 per cent from 57.1 per cent in FY25
The budget underscores the government's belief that infrastructure is the bedrock of sustained growth
The commerce and finance ministries are working as a team to see which are the sectors that require maximum support in terms of availability of capital, technology upgradation, marketing
The Finance Minister has also been cognizant of the need to undertake regulatory reforms that are needed to ensure that the economy does not get bogged down and steams ahead
The jury is divided on whether this move has led to the expected inflow of investments
We continue to place emphasis on the multiplier effect that capital expenditure done by the government has shown, said FM Sitharaman
Under the proposed framework, any prescribed reporting entity dealing in crypto-assets will be required to furnish transaction details within a specified period
It would have been better had the government gone in for across-the-board Customs duty rationalisation instead of picking and choosing sectors across the board
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates
The minister had previously announced in July last year that a comprehensive review of the Income Tax Act of 1961 would be completed within six months
The FM said that the initial FoF announced by the government with an investment of Rs 10,000 crore managed to catalyse commitments worth Rs 91,000 crore
By providing an effective tax cut of Rs 1 trillion to the middle class, the FM will improve consumer confidence and boost consumption
This was an opportune moment to get rid of the old tax system entirely and move fully to the new one. A broad-based, low-rated, and less differentiated tax structure is the need of the hour
Those of us who were so excited by that flurry of reforms and hailed it as a true and virtuous example of not wasting a crisis are now chastened
New tax regime updates: Under the new system, taxpayers will not have to pay any income tax on earnings up to Rs 12 lakh per annum
The food subsidy for FY26 was estimated at Rs 2.03 trillion, which is 3.04 per cent more than the RE but 0.9 per cent lower than the BE of FY25