New Delhi: The customs duty rejig announced in the Union budget for FY26 lowers India’s average customs duty rate sharply from 11.65% to 10.66% and sends a positive signal to India’s trading partners like the US, Central Board of Indirect Taxes and Customs (CBIC) Chairperson Sanjay Kumar Agarwal said in a post-budget interview. The comments…
Days of intrusive tax scrutiny are over, taxpayer facilitation is the new mantra: CBDT chairperson Ravi Agarwal ₹24 lakh annual income will benefit from a tax reduction of ₹1.1 lakh, while, the benefit will be ₹35,000 for those with ₹15 lakh income and ₹70,000 for those with ₹18 lakh annual income.”/> …
New Delhi: The exemption of import duties on components required for making open cells—a key part of LED televisions—has divided India’s nearly-$10-billion TV industry. A section of manufacturers sees the budget announcement as a big boost, but others say the relief will only benefit specific companies, not the entire sector. “The duty abolition will only…
The Union Budget 2025 has declared that in reaching the destination of Viksit Bharat by 2047, reforms will act as fuel and inclusivity will be the guiding spirit. The reforms have focused on labour-intensive sectors and are towards boosting productivity. This is significant as in its growth journey, India directly moved from agriculture to services…
You have presented some substantive issues in the budget, but the minute you say something like a personal income tax cut, that grabs all the headlines. Yes, that is one, and also see normally, tax relief will not be this range, and will also not be simultaneous across the board. You were at two (lakh…
The demand-supply gap of workers across states is skewed and unless there is an immediate impact of agricultural reforms and infrastructure development, the Union budget’s aim to ease migration will be a tough task, recruiters warned. In the budget for fiscal 2025-26, the government said it aims to generate new businesses and employment for young,…
The government plans to further liberalise foreign investment rules for insurance companies by removing the condition that mandates the presence of Indian residents in the boards and top management of insurance entities, said top finance ministry officials. The insurance reforms bill will be introduced in the ongoing budget session of parliament, one of these officials…
The budget this year came in the background of an economic slowdown led by weak urban consumption and lower government capex. Hence, finance minister (FM) Nirmala Sitharaman was expected to stimulate growth while continuing on the path of fiscal consolidation. The budget has delivered on this by incentivizing urban consumption through tax cuts while continuing…
The finance ministry expects ₹40,000-45,000 crore to flow into banks as deposits from the various tax changes announced in the Budget, including raising the tax-free income level to ₹12 lakh, financial services secretary M Nagaraju said during a media interaction on various Budget proposals on Monday. Union Budget 2025, which finance minister Nirmala Sitharaman presented…
The political and economic uncertainties shaping the world today have been a key driver for several budget proposals, including the widely debated tax cut and revisions to tax slabs, chief economic adviser V. Anantha Nageswaran said on Monday. Speaking at a post-budget interactive session organized by the Confederation of Indian Industry (CII), Nageswaran said the…
