Page 17 - Latest Updates on Budget 2025-26

Budget 2025: TN CM Stalin says, 'state got ignored out of biasness'

The Union Budget for 2025-2026 was 'biased' in completely ignoring Tamil Nadu and betrayed the expectation of the people, Chief Minister M K Stalin said on Saturday. Despite putting forth several demands to it, the Centre did not seem to have the heart to confirm atleast one demand and announce it in the Budget, he said. "The demands are numerous ... highways and railway projects, Coimbatore and Madurai Metro Rail projects. Why nothing has been given? What is stopping you?" Stalin asked in a post on the social media platform X. Terming the Union Budget as 'prejudiced' in so far as Tamil Nadu was concerned, the Chief Minister said even the name Tamil Nadu was not mentioned. Tamil Nadu occupied a prominent place in all the reports of the Union Government including the Economic Survey, Ranking of Higher Education Institutions, and the NITI Aayog report, and they all praised the state's activities. "But why is Tamil Nadu completely ignored this year in the Budget?" Stalin, who is ...

Union Budget 2025: Govt allocates Rs 141.83 crore for President's office

The Union Budget on Saturday allocated Rs 141.83 crore for the staff, household and allowances of the president, a nominal increase of Rs 8.22 crore from Rs 133.61 crore earmarked in the revised estimates for ongoing fiscal. Finance Minister Nirmala Sitharaman had earmarked Rs 144.18 crore in the Budget for 2024-25 which was revised to Rs 133.61 crore. The fund allocation is for salaries and allowances of the president, the expenditure on the household establishment of the president, including staff salaries, discretionary grants of the president and provision for capital section. The document shows that of the total allocation, Rs 60 lakh has been allocated for the salary and allowances of the president, which remained unchanged from the last budget. The amount allocated under the head 'president's secretariat' provides for the establishment and allied expenses with respect to it, which includes grants-in-aid for Dr Rajendra Prasad Kendriya Vidyalaya on the campus of the president

Budget 2025: Breathing life into India's consumption and investment story

The upcoming Income Tax Bill further promises to be clearer, reducing the number of chapters in the current law by half, which could lead to greater certainty and reduced litigation

Budget 2025: Govt to table new income tax bill next week, says FM

The government will introduce a new Income Tax bill in Parliament next week, replacing the six-decade old income tax act of 1961. Finance Minister Nirmala Sitharaman, in her 2025-26 Budget speech, said the new I-T Bill will carry forward the spirit of "Nyaya" (justice) based on the concept of "trust first, scrutinise later". "The new bill will be clear and direct in text with close to half of the present law, in terms of both chapters and words. It will be simple to understand for taxpayers and tax administration, leading to tax certainty and reduced litigation," Sitharaman said. She said the government has implemented several taxpayer reforms in last 10 years and the new income-tax bill will be introduced next week. Addressing a post budget press conference, Sitharaman said, "I hope it (the Bill) will get passed without much of a difficulty". The new income tax bill will go to the Standing Committee of Parliament, she added. Sitharaman had in July last year announced a comprehen

Zero tax, TDS exemptions, TCS removal: How Budget 2025 affects your income

Take a look at the changes announced in Budget 2025 that will reduce your monetary burden

Govt increases culture budget by Rs 100 crore, prioritises heritage, arts

The government has increased the budgetary allocation for the Ministry of Culture for the fiscal year 2025-26, with a total outlay of Rs 3,360.96 crore against a revised estimate of Rs 3,260.93 crore in the current fiscal. Within the ministry, a major chunk has gone to the Archaeological Survey of India (ASI), which has been allocated Rs 1,278.49 crore against Rs 1273.91 crore allocated in 2024-25 which was revised to Rs 1191.99 crore. While the government has continued to support cultural development, it has significantly reduced funding for organising events to mark centenaries and anniversaries. The budget for these commemorations has been slashed from Rs 110 crore in 2024-25 to just Rs 35 crore in 2025-26. However, key celebrations such as the 150th birth anniversary of Birsa Munda, the 75th anniversary of Constitution Day, and the 300th birth anniversary of Ahilya Bai Holkar will still be observed with government support. Funds earmarked for international cultural collaborati

Budget 2025: A boost for handicrafts, handlooms, says Stylist Prasad Bidapa

I'm disappointed that the Budget doesn't do more to address climate change and environmental sustainability, he said

Budget 2025: Who is Telugu poet Gurajada Apparao quoted by Sitharaman

Nirmala Sitharaman used Telugu poet and playwright Gurajada Apparao's famous words to emphasise the government's vision for Viksit Bharat

Budget 2025: FM calls for mining sector reforms, says govt to frame policy

The government on Saturday said it will launch a policy for recovery of critical minerals from tailings or by-products of mining. In her Budget speech, Union Finance Minister Nirmala Sitharaman also said mining sector reforms, including those for minor minerals, will be encouraged through the sharing of best practices and the institution of a State Mining Index. She said, "A policy for recovery of critical minerals from tailings will be brought out." Sitharaman tabled the Union Budget in the Lok Sabha on Saturday. Additionally, the finance minister announced the removal of import duty on 12 critical minerals, cobalt powder and waste, lithium-ion battery scrap, lead and zinc. The move, she said, would facilitate securing their availability for manufacturing in India and promote more jobs. In the last budget, the government had scrapped customs duty on 25 critical minerals that are not available in the domestic market. She had also reduced basic customs duty on two other such mine

Budget marks pivotal moment in economic trajectory: Kerala biz community

The Union Budget proposals presented by Finance Minister Nirmala Sitharaman on Saturday received a positive response from the business community in Kerala. Yusuff Ali M A, Chairman of Lulu Group said the buget marks a pivotal moment in India's economic trajectory, delivering a much-needed boost to the middle class while advancing the country's goal of becoming a 5 trillion USD economy. Key measures, such as income tax reductionsincluding a no-tax threshold up to Rs 12 lakhand expanded exemptions and incentives for startups and MSMEs, will directly benefit individual incomes and entrepreneurial ventures, he said in a statement here. This budget clearly empowers the middle class and fosters a vibrant, self-reliant economy, he added. The direction of the budget is towards the goal of Vikasit Bharat, Confederation of Indian Industry (CII) Kerala Chairman Vinod Manjila said. "A very positive budget that takes care of the diverse sectors of the economy including agriculture, middle clas

Game changer for property market: Real estate sector lauds Budget 2025

Even as the IT hub, which dominated the Indian commercial office market space in 2024, is expected to continue the trend in 2025, real estate and coworking experts in Bengaluru feel that the Union Budget 2025 will be a "game changer" for the industry as a whole. The union budget for 2025-26 was presented by Finance Minister Nirmala Sitharaman on Saturday. Ramani Sastri, Chairman & MD of Bengaluru-based Sterling Developers, in a statement, said that the government's concentrated efforts on infrastructure development promise to significantly enhance housing demand. "It will also benefit around 250 ancillary industries, generating numerous job opportunities and bolstering overall economic growth," he added. According to him, the establishment of the India Infrastructure Fund and emphasis on Public-Private partnerships for infrastructure in the budget is also a game-changer for the real estate industry. "The establishment of an Urban Challenge Fund of Rs 1 lakh crore will fuel the ...

Rahul Gandhi slams Union Budget 2025, calls it 'band-aid for bullet wounds'

The Bahujan Samaj Party chief Mayawati criticised the Budget calling it 'politically motivated'

No immediate upgrade of India's sovereign rating: Moody's after Budget 2025

Moody's Ratings has ruled out an immediate upgrade of India's sovereign rating, despite the government's efforts to manage its finances prudently and the proposal to reduce fiscal deficit to 4.4 per cent of GDP in FY26 in the Budget. "While we view the government's sustained fiscal discipline and narrower fiscal deficits as credit positive, we don't expect these improvements in the debt burden or 'debt affordability' to be enough to trigger a sovereign rating upgrade at this time," Christian de Guzman, Senior Vice President, Moody's Ratings, told PTI in an interview on Saturday. Moody's currently maintains India's sovereign rating at "Baa3" with a stable outlook, which is the lowest investment-grade rating. Finance Minister Nirmala Sitharaman, in her Budget speech, projected the fiscal deficit for FY25 at 4.8 per cent of GDP and 4.4 per cent for FY26. While India is making strides toward fiscal discipline and inflation control, Moody's maintains that for a rating upgrade, a ...

Educators welcome govt's focus on AI to create future ready talent

Educators on Saturday welcomed the government's proposals to boost Artificial Intelligence (AI) focused education and create a strong talent base in the Union Budget 2025-26. "Centres of Excellence in AI-focussed on education in the Union Budget continues to be a strong signal by the government on skilling and creating the strongest talent base and workforce from India for India and the world. India, by far, is the fastest-growing economy, and today's Budget addresses core areas to elevate our global standing," Upgrad co-founder Ronnie Screwvala said. Building a powerful infrastructure for AI in the nation is critical for innovation, employment, stronger exports, foreign direct Investments (FDIs), and overall competitiveness among global economies - and the budgetary allocation of Rs 500 crore sets the right growth tone, he added. TeamLease Edtech founder and CEO Shantanu Rooj said the 2025-26 Budget presents an important opportunity to strengthen India's education, skilling, and ..

Phase-3 of ambitious e-Courts project gets Rs 1,500 crore in Budget 2025

The ambitious phase three of the e-Courts project, which seeks to establish digital, online and paperless lower courts in the country, has been allocated Rs 1,500 crore in the Union Budget. The funds for the project have been allocated under the National Mission for Justice Delivery and Legal Reforms. As part of the National e-Governance Plan, the e-Courts project is under implementation since 2007 for ICT enablement of the Indian judiciary. The second phase of the project concluded in 2023. The third phase of the e-Courts project, beginning 2023, is aimed at ushering in a regime of maximum ease of justice by moving towards digital, online and paperless courts through digitisation of the entire court records, including legacy records. It will put in place intelligent smart systems, enabling data-based decision-making for judges and registries while scheduling or prioritising cases. The main objective of the third phase is to create a unified technology platform for the judiciary t

Budget 2025: Maldives gets more aid from India, but what about Bangladesh?

Union Budget 2025: India's foreign aid drops to Rs 5,483 crore in Budget 2025; Maldives sees a hike to Rs 600 crore, Afghanistan's aid doubles, while Myanmar faces a cut amid ongoing internal turmoil

UK businesses 'encouraged' by Budget focus on growth, trust-based approach

The Union Budget tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha on Saturday has been received with much enthusiasm within the UK business and investor community, with the focus on economic growth, boosting private investment and a trust-based economic governance approach being highlighted among some of the stand-out proposals. In what marked Sitharaman's eighth consecutive Union Budget, the minister announced key allocations and policy measures across crucial sectors. Richard McCallum, CEO of UK India Business Council (UKIBC), highlighted a focus on simplifying conditionalities associated with foreign direct investment (FDI), skilling and policy reforms among some early takeaways. I'm encouraged by the focus on economic growth, on invigorating private investment [because] we do need more private investment for growth to be sustainable, on skilling and stimulating more consumer spending. We also welcome the focus on domains like tax administration and policy reform, ..

Karnataka industry leaders back Union Budget, praise tax relief measures

Karnataka industry stalwarts welcomed the union budget presented by Finance Minister Nirmala Sitaraman on Saturday saying the focus on infra, consumption, and investment will help the economy. Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Limited said the Union Budget 2025 is reassuring, as it instils confidence that India is investing in the right areas to drive stable and inclusive economic growth. The significant income tax relief, with no tax payable up to Rs 12 lakh income, will put more money in the hands of the people and thus boost domestic consumption, she said on social media 'X'. "Consumption, investment, innovation and employment are the four pillars of our economic growth model and FM Nirmala Sitharaman has focused on all aspects of those segments," she added. N Venu, Chairman of Confederation of Indian Industry (CII) Karnataka State Council in a statement said the budget strengthens the foundation for 'Viksit Bharat' with its sharp focus on infrastructure, rura

Census, NPR unlikely in 2025 too as only Rs 574 crore allocated in Budget

If budgetary proposals are anything to go by, the decadal census is unlikely to be carried out in 2025 as well with a meagre Rs 574.80 crore allocated for the exercise in the Budget presented on Saturday. A meeting of the Union Cabinet on December 24, 2019 had approved the proposal for conducting census of India 2021 at a cost of Rs 8,754.23 crore and updating the National Population Register (NPR) at Rs 3,941.35 crore. The house listing phase of the census and the exercise to update the NPR were scheduled to be carried out across the country from April 1 to September 30, 2020 but were postponed due to the COVID-19 outbreak. The census operation continues to be on hold and the government has not yet announced the new schedule. The Budget 2025-26, presented by Finance Minister Nirmala Sitharaman on Saturday, allocated Rs 574.80 crore for Census, Surveys and Statistics/Registrar General of India (RGI), a significant reduction from the Budget 2021-22 when Rs 3,768 crore was allocated,

Coal minister calls budget 'empowering for farmers, women, entrepreneurs'

The Union Budget for 2025-26 is a visionary budget that empowers farmers, the middle class, women, and entrepreneurs, while laying a strong foundation for a 'Viksit Bharat,' said Union Coal Minister G Kishan Reddy on Saturday. The budget introduced major economic reforms that will enhance 'Ease of Doing Business', expand access to finance for MSMEs, startups, and entrepreneurs, and foster a strong investment environment, he said in a post on social media platform X. Further, the budget strengthens Centre-State cooperation to drive inclusive growth and it reinforces the NDA government's commitment towards 'Viksit Bharat' (developed India) by achieving Atmanirbharta (self-reliance), sustained growth, and through global competitiveness, he said. "I congratulate & thank Hon'ble PM Shri @narendramodi ji and Finance Minister Smt. @nsitharaman for presenting a visionary budget that empowers Annadatas, the middle class, women, and entrepreneurs," Kishan Reddy said.