BENGALURU: The Centre has proposed ending a long-standing tax uncertainty for Indian units of overseas tech services firms and global capability centres (GCCs) by setting a uniform profit margin for taxing their IT services in the country. In the Union Budget for 2026-27 presented on Sunday, finance minister Nirmala Sitharaman said a fixed tax will…
The FM mentioned in her Budget speech that Odisha, Karnataka, and Kerala will develop Turtle Trails to protect and promote nesting sites. | Photo Credit: Asit Kumar In her Union Budget 2026 speech, Finance Minister Nirmala Sitharaman explicitly named 14 States. However, when accounting for the States and Union Territories associated with the 27 specific…
The Union government has proposed two targeted initiatives—Divyangjan Kaushal Yojana and Divyang Sahara Yojana—aimed at expanding dignified livelihood opportunities and improving access to assistive technology for persons with disabilities (Divyangjans). Under the Divyangjan Kaushal Yojana, the focus will be on skill development in sectors such as information technology (IT), animation, visual effects, gaming and comics…
Union Minister Telecom Jyotiraditya Scindia. File. | Photo Credit: SUSHIL KUMAR VERMA The government has proposed to increase the outlay for the Telecom Ministry to ₹73,990 crore, mainly due to a significant rise in capital infusion for state-run telecom firm BSNL. The increased allocation is for various projects, including BharatNet, capital requirement of BSNL, including…
Through changes to assessment and penalty procedures, alongside selective exemptions and relaxed safe harbour norms, the government is seeking to make the tax system less adversarial and more predictable—both for individuals and for multinational companies operating in India, a senior government official said on Monday. The official, who spoke on condition of anonymity, said the…
Image used for representational purposes. File | Photo Credit: Reuters The Law Ministry’s ambitious phase-III of the e-Courts project, aimed at digitising all subordinate courts of the country, has been allocated ₹1,200 crore in the Union Budget for 2026-27. According to the budget document, the project has received ₹1,200 crore as against ₹1,500 crore in…
While welcoming measures supporting MSMEs and lab-grown diamond (LGD), stakeholders from gems and jewellery sector said some of their requests for a cut in import duty on gold and GST rationalisation did not materialise in the Union Budget 2026-27. Kirit Bhansali, Chairman, Gem and Jewellery Export Promotion Council (GJEPC), said: “We thank the government for…
Experts say that this shift could significantly alter how exporters access state support in an increasingly volatile global trade environment. The budget documents show that older interest subsidy schemes have been phased out, while funding is being redirected towards export insurance, trade enforcement and streamlined export support programmes. The move suggests that the Centre no…
On Friday, bitcoin fell to as low as $81,104, the lowest since November 21 [File] | Photo Credit: REUTERS Bitcoin, the world’s largest cryptocurrency by market value, was down by 6.53% at $78,719.63 at 12:48 p.m. ET (1748 GMT) on Saturday, continuing its decline from the previous session. On Friday, bitcoin fell to as low…
The Union Budget 2026 allows Special Economic Zone (SEZ) units to sell gems and jewellery in the domestic market at concessional duties, helping manufacturers utilise idle capacity amid falling exports | Photo Credit: SHASHI ASHIWAL/businessline The Budget’s move to allow units in Special Economic Zones to sell in the domestic markets will help jewellers who…
