Page 20 - Union Budget

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 ...

Budget 2025: Govt ups allocation for electronics PLIs, semicon, AI by 84%

The government has enhanced allocation for key technology projects, comprising production-linked incentives for mobile phones, IT hardware, semiconductor scheme and IndiaAI Mission, by about 84 per cent to Rs 18,000 crore for the next fiscal. The revised allocation for the key electronic sector project was around Rs 9,766 crore in the current financial year, according to the budget documents. The allocation for IndiaAI Mission has been increased by over 11 times to Rs 2,000 crore. The IndiaAI mission is spearheading development of the country's artificial intelligence ecosystem including providing financial support for compute infrastructure. The total allocation for Ministry of Electronics and IT has been raised by about 48 per cent to Rs 26,026.25 crore for 2025-26 against Rs 17,566.31 crore under the revised allocation for the current fiscal. The highest allocation of Rs 8,885 crore has been made for the production-linked incentive scheme for Large Scale Electronics Manufacturin

Budget 2025: Tax relief, policy push to boost electric two-wheeler demand

The Budget also placed a strong emphasis on the gig economy, a sector that plays a crucial role in last-mile deliveries using electric two-wheelers

Union Budget allocates Rs 1,024 cr for expenditure, salaries of ministers

The Union Budget 2025-26 has allocated Rs 1,024.30 crore for expenses incurred by the Council of Ministers, the Cabinet Secretariat and the Prime Minister's Office, and for hospitality and entertainment of state guests. The allocated amount is a bit more than the Rs 1,021.83 crore earmarked in 2024-25. In the Budget presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Saturday, a total of Rs 619.04 crore has been allotted for the expenses of council of ministers in the coming fiscal. It was Rs 540.95 crore in 2024-25. This allocation is for expenditure on salaries, sumptuary and other allowances and travel by Cabinet ministers, ministers of state, and former prime ministers. It also includes a provision for special extra session flight operations for VVIPs. The National Security Council Secretariat has been allocated Rs 182.75 crore, against Rs 270.08 crore allotted in 2024-25. The provision is for meeting the administrative expenses and space programme of the Nationa

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 ..

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

Fiscally prudent, reforms-driven Budget paves way for future growth

The focus on uplifting 17 million farmers in 100 weakest farming districts is a step towards ensuring equitable development across the country

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.

Budget allocates Rs 74,226 crore for drinking water and sanitation

The Centre has allocated Rs 74,226 crore for the Department of Drinking Water and Sanitation in the Union Budget 2025-26, with most of it allotted to the Jal Jeevan Mission which aims to provide tap water connections to rural households. The allocation marked a substantial rise from the revised estimates of Rs 29,916 crore for 2024-25 for the department. However, the allocation is lower than the Rs 77,390.68 crore originally earmarked for the department in the Budget for 2024-25. The Department of Water Resources, River Development and Ganga Rejuvenation has been allocated Rs 25,276.83 crore, an increase from Rs 21,640.88 crore from the revised estimates. Under the Namami Gange Mission-II, Rs 3,400 crore has been earmarked for cleaning and rejuvenating the river, up from Rs 3,000 crore last year. Jal Jeevan Mission (JJM), the flagship programme of the Centre aimed at providing tap water connections to every rural household, has been allocated Rs 67,000 crore, marking a significant

Fixed depositors - your TDS limit hiked to Rs 50,000, Rs 1 lakh for seniors

The limit will rise from the current Rs 40,000 to Rs 50,000 per financial year starting April 1, 2025

Budget 2025: Home ministry allocated Rs 2.33 trn, census funding reduced

The Union Budget 2025-26 on Saturday allocated Rs 2,33,210.68 crore to the Ministry of Home Affairs with the majority of the fund -- Rs 1,60,391.06 crore -- being given to central police forces like CRPF, BSF and CISF which are responsible for internal security, border guarding and security of vital installations. The Union Budget 2024-25 had allocated Rs 2,19,643.31 crore to the Ministry of Home Affairs (MHA), helmed by Union Home Minister Amit Shah. Union Finance Minister Nirmala Sitharaman has allocated Rs 41,000.07 crore to Jammu and Kashmir, which became a union territory after the abrogation of Article 370 in August 2019. In the Budget, Rs 6,212.06 crore has been given to Andaman and Nicobar Islands, Rs 6,187.48 crore to Chandigarh, Rs 2,780 crore to Dadra and Nagar Haveli and Daman and Diu, Rs 4,692.15 crore to Ladakh, Rs 1,586.16 crore to Lakshadweep and Rs 3,432.20 crore to Puducherry. The Budget also allocated a meagre Rs 574.80 crore (Rs 572 crore in 2024-25) towards wo

Chhattisgarh CM hails Union Budget as 'historic for middle class, farmers'

The Union Budget for 2025-26 fulfils the dreams of every citizen and is a document of India's golden future, Chhattisgarh Chief Minister Vishnu Deo Sai said on Saturday. The budget will prove to be a milestone for the upliftment of the middle and working classes, he asserted. "With the Union Budget 2025-26 presented today, the promise of Prime Minister Narendra Modi Ji has been fulfilled again that Modi Ji takes care of those who are not being taken care of by anyone. This budget is historic for the upliftment of the middle and working classes of the society. It is a document of India's golden future. It is one of the few historical budgets in the history of Independent India," Sai said. Honouring the country's taxpayers and middle class, the Modi government has taken a decision which people had not even imagined, the CM added. "While during the Congress government, tax was levied on an annual income of Rs 2 lakh, in Modi Ji's government, no tax will be imposed on annual income up

Budget 2025 highlights path towards Rs 10-trillion 'Viksit Bharat' economy

Budget 2025 Highlights: This budget is an excellent Budget, addressing the current challenges and also the upcoming opportunities

Union Budget announcements like sixer on full toss ball: PHDCCI President

Industry body PHDCCI on Saturday termed the announcements made in the Union Budget as a "sixer on a full toss ball" which will drive growth across sectors improving infrastructure and enhancing governance. In an interview to PTI, its President Hemant Jain said the key focus areas in the Budget 2025-26 included taxation, power, urban development, mining, the financial sector, and regulatory reforms, are major ingredients of development. "It's like a sixer on a full toss ball. These areas will drive growth, improve infrastructure, enhance governance, and ensure sustainable development across various sectors," said Jain, who is also the Managing Director of KLJ Industries. Union Finance Minister Nirmala Sitharaman tabled record eighth Union Budget in Lok Sabha on Saturday. The size of the Budget at Rs 47.16 lakh crore, including a capital expenditure of Rs 10.1 lakh crore, will boost the economy, he said. On the tax related announcements, Jain said it is a strong step to boost the mi

Winners, losers across sectors from Union Budget: Stock market reactions

The Indian government said people earning up to 1.28 million rupees ($14,791.53) per year will not have to pay any taxes, raising its threshold from 700,000 rupees

Govt projects dividend income of Rs 2.56 trn from RBI, PSBs in FY26

The government on Saturday projected a dividend income of Rs 2.56 lakh crore from the Reserve Bank and public sector financial institutions in FY2025-25, as per the Budget documents. In the current financial year, receipts from dividend/surplus of RBI, nationalised banks and financial institutions are estimated at Rs 2.34 lakh crore, about Rs 1,410 crore higher than the previous estimates. The documents stated that the total central government's receipts from 'dividends from public sector enterprises and other investments' would be Rs 3.25 lakh crore, up from Rs 2.89 lakh crore. In her Budget speech, Finance Minister Nirmala Sitharaman said the total receipts other than borrowings and the total expenditure are estimated at Rs 34.96 lakh crore and Rs 50.65 lakh crore, respectively. The net tax receipts are estimated at Rs 28.37 lakh crore. The Centre's fiscal deficit is estimated at 4.4 per cent of GDP during the next financial year. To finance the fiscal deficit, the net market .

Budget: Law min gets Rs 14k cr for carry forward spending on LS polls, EVMs

The Union Budget 2025-26 has allocated more than 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 legislative department in the law ministry is the nodal agency for the Election Commission (EC), polls, electoral laws and appointment of members to the poll panel. According to the Budget presented by Finance Minister Nirmala Sitharaman on Saturday, the law ministry has been allotted Rs 500 crore for Lok Sabha elections, another Rs 300 crore for identity cards for voters, and Rs 597.80 crore for "other election expenses". Separately, it has been allocated Rs 18.72 crore for the purchase of new electronic voting machines (EVMs) by the election watchdog. One control unit, at least one ballot unit and one paper trail machine make up for an EVM. Carry forward expenses have been described by law ministry officials as a "book keeping" exercise where