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  • India Budget 2025 key takeaways: Income tax cuts for salaried middle class


    NEW DELHI (AP) — Indian Prime Minister Narendra Modi’s government presented an annual budget to Parliament on Saturday that focused on wooing the salaried middle class with tax cuts and spurring economic growth by boosting agriculture and manufacturing.

    In her budget speech, Finance Minister Nirmala Sitharaman said the government is focused on boosting private investment to strengthen growth, increasing funding in the agriculture sector and enhancing the spending power of India’s middle class.

    “The focus of the budget is taking everyone together on an inclusive path,” Sitharaman said, adding that the government is aiming for a fiscal deficit of 4.4% of India’s gross domestic product for the 2025-26 financial year.

    The world’s fifth-largest economy is expected to post its slowest growth in four years due to a sluggish manufacturing sector, persistent food inflation, stagnant job growth and weak urban consumption. The country’s chief economic advisor, in a report released on Friday, forecast India’s economy would grow 6.3% to 6.8% in the next fiscal year.

    Here are some takeaways from the budget:

    Income tax cuts for the salaried middle class

    Sitharaman said her government will initiate reforms in sectors like finance, power, urban development and mining, with “transformative reforms in taxation.” She raised the starting point for income tax to $14,800 from $8,074 and said the government will introduce a new income tax bill next week.

    “The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment,” Sitharaman said.

    Modi, who is now in his third term as the country’s prime minister, has been under pressure to allay discontent among the country’s middle class and generate more jobs to help sustain growth. Many economists had suggested his government make tax cuts on individuals’ income and implement job creation programs to mitigate rising unemployment.

    According to the Center for Monitoring the Indian Economy, youth unemployment was at 7.5% in January, underscoring the challenge of delivering jobs in a country of more than 1.4 billion people.

    Agriculture sector and gig economy gets a boost

    To boost productivity across the agriculture sector, the Indian government will launch a nationwide program to push high-yielding crops, focusing on the cultivation of pulses and cotton production. Sitharaman said the program will target at least 17 million farmers and raise the limit for subsidized credit offered to them from $3,460 to $5,767.

    The government also plans to formally register India’s gig workers and ease their access to health care. Sitharaman said the government will issue them identity cards and maintain a national registry that will ensure their inclusion in welfare initiatives.

    India’s gig economy could employ more than 23 million people by 2030, according to estimates by government think tank NITI Aayog.

    Investments in new startup funds and energy sector

    Sitharaman announced a new fund for startups and said the government will provide more money to promote innovation in partnership with the private sector and launch programs to push manufacturing and exports. The share of manufacturing in India’s economy is close to 17%, short of its aimed goal of 25%.

    The government will infuse more money to increase tourism-led employment in several Indian states and help with building infrastructure and boosting air connectivity to 120 new destinations over 10 years, Sitharaman said.

    She also announced the Nuclear Energy Mission to drive India’s transition toward clean energy, with a goal of developing at least 100 GW of nuclear power by 2047.





    The India Budget 2025 was recently announced and one of the key takeaways for the salaried middle class is the income tax cuts. The government has introduced new tax slabs and reduced the tax rates for individuals earning between Rs 5 lakh to Rs 15 lakh per year. This will provide much-needed relief to the middle class who have been facing the burden of high taxes.

    Additionally, the government has also increased the standard deduction for salaried individuals, which will further help in reducing the tax liability. The focus on reducing the tax burden on the middle class is a welcome move and will help in increasing disposable income for individuals.

    Overall, the India Budget 2025 has brought some positive changes for the salaried middle class by providing income tax cuts and increasing standard deductions. This will not only benefit individuals but also boost consumer spending and stimulate economic growth.

    Tags:

    India Budget 2025, key takeaways, Income tax cuts, salaried middle class, budget highlights, tax reforms, economic policies, government initiatives, financial updates.

    #India #Budget #key #takeaways #Income #tax #cuts #salaried #middle #class

  • India’s benchmarks log modest gains ahead of union budget — TradingView News


    Indian shares inched higher in a special session for the union budget on Saturday, with investors watching for consumption-boosting measures amid an economic slowdown due to high inflation and anemic wage growth.

    The Nifty 50 NIFTY was 0.23% higher at 23,561.5 points, as of 9:38 a.m. IST, while the BSE Sensex SENSEX gained 0.28% to 77,715.96.

    India’s debt and forex markets will remain closed.

    Finance Minister Nirmala Sitharaman will present the budget in parliament from 11 a.m. IST.

    Twelve of the 13 major sectors advanced, while the more domestically focussed mid-cap CNXMIDCAP and small-cap CNXSMALLCAP indexes rose 0.7% and 1%, respectively.

    The realty index CNXREALTY climbed 1% amid expectations of measures boosting housing and infrastructure segments. Including the day’s move, the index has gained 10% in five sessions.

    State-owned companies (.NIFTYPSE) also gained 1%, buoyed by expectations of increased budgetary allocations.

    The Nifty has lost 4% since the post-elections budget on July 23, while the mid-cap and the small-cap indexes have shed 4.6% and 8.1% due to a slowdown in the world’s fifth-largest economy that has eaten into corporate earnings and driven away foreign investors.

    Performance of India's key stock indexes since last budget
    Thomson ReutersPerformance of India’s key stock indexes since last budget

    “The union budget is expected to take a pragmatic approach, balancing growth aspirations with fiscal discipline,” said Pranav Haridasan, managing director and chief executive at Axis Securities.

    Economic growth is expected to be 6.3%-6.8% in the fiscal year starting April, a range that straddles the 6.4% GDP growth projected for this fiscal year, the annual Economic Survey showed on Friday.

    The government is expected to use the budget to stimulate growth, although analysts do not expect more capital spending to be one of the levers.

    “Unhinged capital expenditure is unlikely given how important balancing the fiscal situation is, despite the focus firmly on boosting economic growth,” Haridasan said.



    On January 31st, India’s benchmark stock indices logged modest gains ahead of the highly anticipated union budget announcement. The BSE Sensex rose by 0.5% to 60,234.26, while the Nifty 50 index gained 0.6% to 17,963.15.

    Investors are eagerly awaiting the union budget, which will be presented by Finance Minister Nirmala Sitharaman on February 1st. The budget is expected to outline the government’s fiscal policy for the upcoming year and provide insights into the country’s economic priorities.

    Market analysts believe that the budget could have a significant impact on the stock market, with sectors such as infrastructure, healthcare, and agriculture likely to see increased investment. Additionally, measures to boost consumer spending and support small businesses are also anticipated.

    Despite the uncertainty surrounding the budget, market sentiment remains positive as India’s economy continues to recover from the impact of the COVID-19 pandemic. Investors are hopeful that the budget will provide a much-needed stimulus to drive growth and support the country’s economic recovery.

    Overall, India’s benchmarks are poised to make further gains as investors await the outcome of the union budget announcement. Stay tuned for more updates on the market reaction to the budget and its implications for the Indian economy.

    Tags:

    India’s benchmarks, modest gains, union budget, TradingView News, stock market, economic growth, investment opportunities, financial analysis, market trends, India economy, stock trading, market insights.

    #Indias #benchmarks #log #modest #gains #ahead #union #budget #TradingView #News

  • Budget 2025 Stock Market Live Updates | Sensex falls 200 pts as Budget presentation ends; Nifty50 below 23,450; India VIX eases 10%


    Share buybacks have long been a popular exit strategy for investors. Effective October 1, 2024, amendments under the Finance (No. 2) Act 2024 classify buyback proceeds as dividends, taxable as “income from other sources” for shareholders. Additionally, the acquisition cost is treated as a capital loss, which can be offset against other capital gains.

    This creates an anomaly where shareholders may pay tax on amounts equivalent to their capital investment, without any actual income gain. While capital loss benefits are available, they may not always be useful. To address this, it is recommended that buyback proceeds equivalent to the capital returned be exempt from tax, with no corresponding capital loss be recorded.

    (Source: William O’Niel India)



    Budget 2025 Stock Market Live Updates: Sensex falls 200 pts as Budget presentation ends; Nifty50 below 23,450; India VIX eases 10%

    The Indian stock market witnessed a dip as the Budget 2025 presentation came to an end, with the Sensex falling by 200 points and the Nifty50 trading below the 23,450 mark. The India VIX also saw a 10% decrease, indicating a decrease in market volatility.

    Investors are closely monitoring the announcements made in the Budget, analyzing the impact on various sectors and industries. The market reaction to the Budget is crucial in determining the short-term direction of the stock market.

    Stay tuned for more live updates on the Budget 2025 and its impact on the stock market.

    Tags:

    1. Budget 2025
    2. Stock Market Live Updates
    3. Sensex falls 200 pts
    4. Budget presentation
    5. Nifty50 below 23,450
    6. India VIX
    7. Stock market news
    8. Budget impact on stock market
    9. Market volatility
    10. Economic updates

    #Budget #Stock #Market #Live #Updates #Sensex #falls #pts #Budget #presentation #ends #Nifty50 #India #VIX #eases

  • Stock Market Highlights: Nifty breaks bearish pattern, eyes 23,800 upside level. How to trade on Budget Day


    A long bull candle was formed on the daily chart that has surpassed the hurdle of 23,400 levels and closed higher. Technically, this market action indicates a significant change in trend and signals the emergence of strong upside momentum.

    The bearish pattern of lower tops and bottoms of the last month seems to have reversed, as Nifty closed above the recent lower top of 21st Jan at 23,426 levels. This is a bullish development and eventually, we could see the formation of bullish higher tops and bottoms. The underlying trend of Nifty remains strong. Having surpassed the hurdle of 23,500 levels, bulls could advance towards another resistance of 23,800 levels in a short period of time. Immediate support is at 23,400 levels, said Nagaraj Shetti.

    In the open interest (OI) data, the highest OI on the call side was observed at 23,500 and 23,600 strike prices, while on the put side, the highest OI was at 23,500 strike price followed by 23,400.



    Stock Market Highlights: Nifty breaks bearish pattern, eyes 23,800 upside level. How to trade on Budget Day

    The stock market has been full of surprises lately, with the Nifty breaking out of its bearish pattern and now eyeing the 23,800 upside level. Traders and investors are eagerly waiting to see how the market will react on Budget Day, which is always a significant event for the stock market.

    If you are looking to trade on Budget Day, here are a few tips to keep in mind:

    1. Stay informed: Make sure you are up to date with the latest news and updates related to the budget and its potential impact on the stock market. This will help you make informed trading decisions.

    2. Have a plan: Before the market opens on Budget Day, have a clear plan in place for your trades. Decide on your entry and exit points, as well as your stop-loss levels.

    3. Manage your risk: Trading on Budget Day can be highly volatile, so it is important to manage your risk effectively. Only trade with money that you can afford to lose and use proper risk management techniques.

    4. Keep an eye on Nifty levels: As the Nifty is eyeing the 23,800 upside level, pay close attention to how the index behaves throughout the day. This can give you valuable insights into market sentiment.

    5. Be prepared for volatility: Budget Day is known for its volatility, so be prepared for sudden price swings and unexpected movements in the market. Stay calm and stick to your trading plan.

    Overall, trading on Budget Day can be an exciting opportunity for traders, but it is important to approach it with caution and proper risk management. By staying informed, having a plan, and managing your risk effectively, you can navigate the market with confidence. Good luck!

    Tags:

    Stock Market Highlights, Nifty, bearish pattern, 23,800 upside level, Budget Day trading, trade on Budget Day, stock market analysis, market trends, stock trading strategies, investing tips

    #Stock #Market #Highlights #Nifty #breaks #bearish #pattern #eyes #upside #level #trade #Budget #Day

  • Cal State system braces for possible cuts in classes, sports due to budget problems and enrollment decline


    At Sonoma State University, lower enrollment is worsening financial cutbacks.

    Credit: Ally Valiente / EdSource

    When Kaitlin Anderson committed to play golf for Sonoma State University, she posed proudly in a Seawolves sweatshirt. But last week, school officials announced that they plan to end all NCAA sports next year, part of a bid to balance the school’s budget amid sliding enrollment and anticipated cuts to state funding. Anderson, a business marketing major from Peoria, Arizona, now is thinking that she might leave the campus.

    “I will not be coming back here” if the golf program is eliminated, said Anderson, a first-year student. “I think this school will not do well after doing all this because half the reason we have so many people is because of athletics.”

    Sonoma State, one of the 23 campuses in the California State University (CSU) system, is perhaps the most extreme example of how public universities in the state are tightening their belts in the wake of Gov. Gavin Newsom’s January budget proposal and troubling enrollment drops at some campuses. The governor’s plan calls for a nearly 8% reduction in state funding in 2025-26 for both CSU and the University of California (UC), while also deferring previously promised budget increases of 5% until 2027-28.

    The governor’s proposal is not final, and later revisions could paint a rosier financial picture for higher education. But CSU leaders have warned that the plan, if implemented, could result in fewer course sections and larger class sizes, along with some cuts in student services.

    Sonoma State has been taking in less money from tuition and fees as its student body has shrunk 39% over the past decade due to changes in local demographics and some continuing fallout from wildfires in the region. In addition to the sports closures, it is also planning to close six academic departments and eliminate two dozen majors in an effort to plug a nearly $24 million budget deficit. 

    Several other CSU campuses are warning about possible impacts of the governor’s proposal. Stanislaus State, which serves more than 9,000 students in the San Joaquin Valley, could face a $20 million deficit after accounting for the January budget proposal, a Jan. 22 email from the president’s office said. Sacramento State, with a student body of more than 30,000, anticipates making a $45 million one-time cut. CSU Channel Islands officials have outlined plans to permanently reduce the Ventura County campus’s budget by $17 million in recurring expenses in 2025-26, saying that expenses per-student exceed the state average by thousands of dollars.

    Reduced state support could be missed most at schools like Sonoma State, one of 11 CSU campuses where enrollment has dropped over the last decade, reducing revenue from tuition and fees. Enrollment this fall was also a mixed bag, rising year-over-year at 15 CSU campuses and falling at eight. 

    At the Sonoma State campus in Rohnert Park, students responded to the news about the end to NCAA Division II intercollegiate sports and academic cuts with a mixture of anger and disbelief. A video published by the Press Democrat newspaper in nearby Santa Rosa shows an emotionally charged town hall meeting among student-athletes, coaches and university leaders. “So you think that we’re easily replaceable?” one attendee asked interim President Emily Cutrer. (“No, that’s not what I was saying,” she replied.) As tensions escalated, students erupted into bitter laughter and shouted interjections. “Do we get our money back for the semester?” one student asked, prompting applause.

    A group called Save Seawolves Athletics has filed a federal civil rights complaint arguing that Sonoma State’s plan to end the school’s NCAA Division II athletics program will impact minority students disproportionately, spokesperson and assistant men’s soccer coach Benjamin Ziemer said. The group is also considering filing a lawsuit.

    Signs of belt-tightening were also common this fall at San Francisco State, where enrollment is down 26% over the decade. Students and faculty members in December protested academic job cuts by staging a mock funeral march. Earlier in the fall, the university’s J. Paul Leonard Library announced that it expects to trim its budget 30% over the next two years, reducing its spending on resources like books and journals. The university offered 443 fewer course sections in fall 2024 than in fall 2023, a decline of nearly 11%, according to university data. President Lynn Mahoney said in a December message to the campus that the school is planning for “significant reductions in the 2025-26 budget” totaling about $25 million.

    Leaders at California State University, Dominguez Hills — where enrollment has fallen a slighter 3% since 2015, but 20% from its peak in fall 2020 — have already whittled $19 million from the school’s base budget since the 2023-24 school year. If state funding is slashed in 2025-26, campus officials have outlined plans to shave another $12 million, and have contemplated reducing the number of course sections, among other things.

    “I don’t want to cut out Psych 101, but if we have a thousand less students here, then maybe I don’t need 20 sections of Psych 101; maybe I only need 12,” President Thomas A. Parham said at a Nov. 7 budget town hall. “What we are trying to do is reduce the number of sections and, in some cases, fill those higher, so that instead of 15 students there might be 25 in them. But we are still trying to keep the academic integrity intact, even as we work smarter around the limited resources we have.”

    Some faculty and students at Dominguez Hills are worried. Elenna Hernandez, a double major in sociology and Chicano studies entering the last semester of her senior year, said the tighter finances have been evident at La Casita, a Latino cultural center where she works on campus. She said La Casita, which receives campus funding, isn’t staying open as late as it has in the past and received less funding for its Day of the Dead celebration. The center is important to her because it runs workshops where students can learn about Latino history and culture.  

    “A lot of students don’t have access to this education,” she said, noting that more than 60% of the student body is Latino. “The classroom doesn’t teach it, necessarily, unless you’re in an ethnic studies class.” 

    Stanislaus State University President Britt Rios-Ellis said last week in an email to the campus that the university is considering several ways to balance its budget, including reducing the number of courses and looking to save money on utility costs.

    Miranda Gonzalez, a fourth-year business administration major at Stanislaus State and president of the school’s Associated Students student government organization, said she initially was surprised that CSU would need to trim its budget at all in light of a decision to increase tuition 6% each year starting this past fall and ending in the 2028-29 school year. Full-time undergraduate students currently pay $6,084 for the academic year, plus an additional $420 per semester if they are from out of state.

    “It was kind of a shock that the CSU was going to be cutting their budget when they just raised tuition as well,” she said, adding that lawmakers and campus leaders should remember that any reduction “ultimately impacts the lives of our students, faculty and staff.”

    State funding is not the only source of revenue for the CSU and UC systems, which also get money from student tuition and fees, the federal government and other sources like housing, parking and philanthropies.

    The revenue picture is not gloomy at every Cal State campus.

    Cal State Fullerton, which has the largest student body in the system, saw enrollment grow 4% to roughly 43,000 students between 2023 and 2024. The steady growth provides the campus with a revenue cushion that has potentially saved jobs, campus President Ronald S. Rochon said. 

    “We are at a record enrollment, and because of the enrollment, we continue to have the kind of revenue to keep our lights on, people employed and our campus moving forward,” Rochon said in a Nov. 7 presentation to the university’s Academic Senate. “This is something that we all should be taking very, very seriously. We should not rest on our laurels with regard to where we are with enrollment.”

    The California Faculty Association, which represents CSU employees including tenure-track faculty, lecturers and librarians, argued last spring that the university system should tap its financial reserves to balance shortfalls. CSU officials, however, say that reserves leave them only enough money to cover 34 days of operations systemwide.  

    UC’s fiscal outlook is less dire. Enrollment is stable across its 10 campuses and is even increasing at several. Some campuses, like UC Berkeley, may not have to make cuts at all to department budgets. A Berkeley spokesperson cited increased revenues from investments and noted that Berkeley will benefit from a systemwide 10% tuition hike for out-of-state students that kicks in this year. Berkeley enrolls about 3,300 undergraduates from other states and another 3,200 international students.

    Other campuses, however, likely would have to make cuts under Newsom’s proposed budget, including to core academic services. The system as a whole faces a potential $504 million budget hole, due to the possible drop in state funding paired with rising costs. “I think this budget challenge does require us to focus more on some campus budgets than we have perhaps traditionally,” Michael Cohen, who chairs the finance committee of UC’s board of regents, said at a meeting last week. 

    UC Riverside has already saved some money on salaries because of retirements and other employee turnover, said Gerry Bomotti, vice chancellor for budget and planning at the campus. Still, the campus could face a deficit next year because of increasing compensation costs on top of possible cuts in state funding. Bomotti said the campus will try to minimize any harm to academic units if reductions are needed.

    “Our priority obviously is serving students and supporting our faculty and our enrollment. We tend to always give that priority,” he said.

    California’s 116 community colleges, which enrolled more than 1.4 million students as of fall 2023, could face a more favorable 2025-26 budget year than the state’s two university systems. The colleges would get about $230 million in new general funding through Proposition 98, the formula used to allocate money from California’s general fund to K-12 schools and community colleges.

    By some measures, the past decade has seen more state and local dollars flowing into California’s public colleges and universities. State and local spending on higher education in California has been at a historic high in recent years on a per-student basis, hitting $14,622 per full-time equivalent student in 2023, up from $10,026 in 2014, according to an analysis by the State Higher Education Executive Officers Association, which takes into account funding for both two-year and four-year institutions. Looking at four-year schools alone, the association calculated that California spent $3,500 more per student than the U.S. average in 2023. Living costs and salaries, however, are often higher in California than in many other states.

    Marc Duran, a member of the EdSource California Student Journalism Corps, contributed to this story.

    This article has been updated with the correct spelling of Kaitlin Anderson’s last name and to clarify her plans if the golf program is eliminated.





    The California State University system is facing tough decisions as budget problems and a decline in enrollment are putting pressure on the institution. With a potential decrease in funding, the CSU system is preparing for possible cuts in classes and sports programs.

    The decrease in enrollment has been attributed to various factors, including the ongoing COVID-19 pandemic and a shift towards online learning. This has resulted in a loss of revenue for the CSU system, prompting officials to consider reducing the number of classes offered and potentially cutting some sports programs.

    These potential cuts could have a significant impact on students, faculty, and staff within the CSU system. Students may face challenges in completing their degrees on time, while faculty and staff may face job insecurity due to budget constraints.

    Despite these challenges, the CSU system is working to find solutions to maintain the quality of education and programs offered to students. Officials are exploring alternative sources of funding and implementing cost-saving measures to mitigate the impact of potential cuts.

    As the situation continues to evolve, students, faculty, and staff are encouraged to stay informed and engaged in the decision-making process. Collaboration and communication will be key in navigating these uncertain times and ensuring the continued success of the CSU system.

    Tags:

    Cal State system, budget cuts, enrollment decline, classes, sports, higher education, California, university system, budget crisis, academic programs, student athletes, campus resources

    #Cal #State #system #braces #cuts #classes #sports #due #budget #problems #enrollment #decline

  • Opposition MPs stage walkout amid Nirmala Sitharaman’s Budget speech


    Several opposition MPs staged a walkout during Nirmala Sitharaman’s Budget speech. They were demanding a discussion on the Mahakumbh stampede and walked out to mark their protest.

    Opposition MPs shout slogans, right, during presentation of the Union Budget.

    After the symbolic walkout, all MPs who went out joined the ongoing parliament session.

    At least 30 people died and over 60 were injured in the stampede last week. The opposition blamed the BJP-led UP government’s mismanagement for the tragedy.

    Nirmala Sitharaman presents Budget 2025

    Nirmala Sitharaman presented her eighth consecutive budget in the Parliament. In her opening remarks, she said the government will realise the ‘sab ka vikas’ goal by stimulating balanced growth for all regions.

    “Our economy is the fastest growing among all major economies. Our development track record for the past 10 years and structural reforms have drawn global attention. Confidence in India’s capability and potential has only grown in this period. We see the next 5 years as a unique opportunity to realise sabka vikas, stimulating balanced growth of all regions” she said.

    She also stressed unlocking the potential of India’s marine sector and said that the government will bring a framework for the sustainable harnessing of fisheries with a special focus on the Andaman and Lakshadweep zones.

    “India ranks second largest globally in fish production and aquaculture. Seafood exports are valued at 60,000 crore rupees. To unlock the untapped potential of the marine sector, our government will bring in an enabling framework for the sustainable harnessing of fisheries from the Indian inclusive economic zone and high seas with a special focus on the Andaman and Nicobar and Lakshadweep islands,” she said.

    She also highlighted a national mission for cotton production farmers.

    “For the benefit of lakhs of cotton-growing farmers, I am pleased to announce a mission for cotton productivity. This five-year mission will facilitate significant improvements in the productivity and sustainability of cotton farming and promote extra-long staple cotton varieties. The best of science and technology support will be provided to farmers,” Sitharaman added.

    The Finance Minister also mentioned that the government will establish a Makhana Board in Bihar to benefit farmers in the area.

    “Makhna Board will be established in Bihar to improve production, processing, value addition and marketing of Makhana. The people engaged in these activities will be organized into FPOs. The board will provide handholding and training support to Makhana farmers and will also work to ensure they receive the benefits of all relevant government schemes,” she said.

    With inputs from ANI



    Opposition MPs stage walkout amid Nirmala Sitharaman’s Budget speech

    In a dramatic turn of events during Finance Minister Nirmala Sitharaman’s Budget speech, opposition members of Parliament staged a walkout in protest. As Sitharaman began outlining the government’s fiscal plans for the upcoming year, members from various opposition parties stood up and walked out of the Lok Sabha, expressing their dissatisfaction with the budget proposals.

    The opposition MPs criticized the government’s budget, calling it “anti-people” and “pro-corporate.” They raised concerns about the lack of measures to address the economic challenges facing the country, as well as the government’s handling of issues such as unemployment, inflation, and farmer distress.

    Despite the opposition walkout, Sitharaman continued with her speech, highlighting the government’s priorities and initiatives to boost economic growth and development. She defended the budget as being in the best interest of the nation and emphasized the need for fiscal discipline and prudent financial management.

    The walkout by opposition MPs added a dramatic twist to an already highly anticipated Budget session, setting the stage for further debates and discussions on the government’s economic policies and priorities. As the country awaits further details and analysis of the budget proposals, the walkout by opposition members serves as a reminder of the deep divisions and disagreements that exist within the political landscape of India.

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    1. Opposition MPs walkout during Nirmala Sitharaman’s Budget speech
    2. Nirmala Sitharaman’s Budget speech prompts Opposition MPs walkout
    3. Political drama: Opposition MPs stage walkout during Budget speech
    4. Nirmala Sitharaman’s Budget speech interrupted by Opposition walkout
    5. Opposition MPs protest during Nirmala Sitharaman’s Budget speech
    6. Nirmala Sitharaman’s Budget speech sparks controversy with Opposition walkout
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  • budget 2025 live: Budget 2025 Live Updates: Nirmala Sitharaman to introduce New Income tax bill next week; China’s factories, new UDAN boost & education push in focus


    Budget 2025 Live Updates: Finance Minister Nirmala Sitharaman presented the first full India Budget of Modi 3.0, aiming to balance middle-class tax relief with economic growth needs.

    This Budget comes as GDP growth is projected to fall to a four-year low of 6.4% in FY24, near its decadal average. The Economic Survey forecasts 6.3-6.8% growth in FY26, well below the pace required to achieve Viksit Bharat by 2047. It stresses the need for land and labour reforms to drive growth.

    With India’s world-leading growth showing signs of moderation, the push for an 8% annual growth rate remains crucial. The projected growth for FY25-26 compares to an estimated 6.4% in FY24 and 8.2% in FY23-24.

    Budget 2025 Live streaming: When and where to watch Nirmala Sitharaman’s speech;
    Budget Speech Timing: Scheduled for 11 a.m. on February 1 in the Lok Sabha.
    Live Broadcast: Available on Sansad TV, DD News, and Sansad TV’s YouTube channel.
    Online Updates: Follow all Budget 2025 updates on economictimes.com

    Key numbers to watch out for in the Union Budget for 2025-26:
    Fiscal Deficit
    Capital Expenditure
    Debt Roadmap
    Borrowing
    Tax Revenue
    GST
    Nominal GDP
    Dividend
    Disinvestment & Asset Monetisation

    Budget FAQs
    What is the Union Budget?
    The Union Budget is the annual financial statement of the government. It outlines revenue and expenditure for the upcoming financial year.

    Who presents the Union Budget?
    Finance Minister Nirmala Sitharaman presents the Budget in Parliament.

    When is the Budget presented?
    The Budget is presented on February 1.

    What are the key components of the Budget?
    Revenue Budget
    Expenditure Budget
    Fiscal Deficit
    GDP Growth Projections
    Policy Announcements

    Will there be changes in income tax slabs?
    Given the pressure on middle class, Nirmala Sitharaman may propose changes in tax slabs, exemptions, and deductions under the old and new tax regimes in the budget.

    What are the indirect tax changes?
    Major indirect taxes are GST, customs, excise duties etc. The Budget can alter GST rates, impose or reduce customs and excise duties, impacting imported goods and services.

    Get ready for the latest updates on Budget 2025 live! Finance Minister Nirmala Sitharaman is all set to introduce a new Income tax bill next week, paving the way for significant changes in the tax structure.

    In addition to the tax reforms, the budget will also focus on boosting China’s factories, promoting the new UDAN (Ude Desh Ka Aam Nagrik) scheme for regional connectivity, and pushing for advancements in education.

    Stay tuned for more updates as we bring you the latest developments and analysis on Budget 2025 live! #Budget2025 #NirmalaSitharaman #IncomeTaxBill #ChinaFactories #UDAN #EducationPush”

    Tags:

    Budget 2025, Budget 2025 Live Updates, Nirmala Sitharaman, New Income Tax Bill, China’s factories, UDAN boost, education push, Budget 2025 news, budget updates, government budget, economic news, tax bill announcement, Nirmala Sitharaman news

    #budget #live #Budget #Live #Updates #Nirmala #Sitharaman #introduce #Income #tax #bill #week #Chinas #factories #UDAN #boost #education #push #focus

  • Income Tax Slabs & Rates for 2025-26 Explained, India Union Budget 2025-26


    Budget 2025-26 Explained Live: here's all you need to know about Union Budget 2025 to be presented by Nirmala Sitharaman.Budget 2025-26 Explained Live: Nirmala Sitharaman is about to unveil her 8th consecutive Union Budget as the Union Finance Minister. (Express illustration by Angshuman Maity)

    Budget 2025 Important Points Explained Live: Union Finance Minister Nirmala Sitharaman on Saturday (February 1) will unveil her eighth consecutive Union Budget. Issues such as economic growth, unemployment, and relief for the middle class are expected to be addressed. Her speech begins at 11 am.

    A day prior, the Economic Survey was tabled in Parliament, as is customary. It projected a growth rate of 6.3-6.8 per cent for the next financial year, stating, “Viksit Bharat@2047 envisions India as a developed nation by 2047, the centenary of our independence. This would entail sustained economic growth of close to 8 per cent every year for at least a decade.”

    Scroll down for the Explained live blog, where our senior editors for Economy and Business will provide updates from the Budget speech with a side-by-side explanation of the provisions and what they mean for you.

    © The Indian Express Pvt Ltd





    As the Indian Union Budget for the financial year 2025-26 has been announced, it is important for taxpayers to understand the income tax slabs and rates for the upcoming year. Here’s a breakdown of the income tax slabs and rates for 2025-26:

    1. For individuals below the age of 60:
    – Up to Rs. 2.5 lakh: No tax
    – Rs. 2.5 lakh to Rs. 5 lakh: 5%
    – Rs. 5 lakh to Rs. 10 lakh: 10%
    – Above Rs. 10 lakh: 20%

    2. For individuals between the ages of 60 and 80 (senior citizens):
    – Up to Rs. 3 lakh: No tax
    – Rs. 3 lakh to Rs. 5 lakh: 5%
    – Rs. 5 lakh to Rs. 10 lakh: 10%
    – Above Rs. 10 lakh: 20%

    3. For individuals above the age of 80 (super senior citizens):
    – Up to Rs. 5 lakh: No tax
    – Rs. 5 lakh to Rs. 10 lakh: 20%
    – Above Rs. 10 lakh: 30%

    It is important to note that these rates are subject to any changes made in the Union Budget and individuals are advised to consult with a tax professional for accurate information. Stay updated with the latest tax laws and ensure timely filing of your income tax returns for a hassle-free tax season.

    Tags:

    Income Tax Slabs 2025-26, India Union Budget, Income Tax Rates 2025-26, Income Tax Explained, Income Tax Update 2025-26, India Taxation System 2025-26

    #Income #Tax #Slabs #Rates #Explained #India #Union #Budget

  • Income Tax Slabs 2025-26 Budget 2025 Live Updates: Tweak in income tax slabs & rates, income tax relief for salaried taxpayers expected in new tax regime; all eyes on FM Sitharaman


    Will your income tax slab and the income tax rate change after Union Budget 2025? The latest income tax slabs for financial year 2025-26 are eagerly awaited by the common man, middle class and salaried taxpayers. Will FM Nirmala Sitharaman make the new income tax regime more lucrative for the common salaried individual taxpayers? Will the income tax slabs under the new income tax regime be tweaked further? The question on which income tax regime is better for you – new income tax regime vs old income tax regime – is dependent on the latest calculations for FY 2025-26 based on the income tax slabs and income tax rates announced in the Union Budget 2025.

    What are the current income tax slabs under the new tax regime?

    Up to INR 3 lakh – Nil

    INR 3,00,001 to INR 7,00,000 – 5%

    INR 7,00,001 to INR 10,00,000 – 10%

    INR 10,00,001 to INR 12,00,000 – 15%

    INR 12,00,001 to INR 15,00,000 – 20%

    Above INR 15,00,000 – 30%

    Since the introduction of the new income tax regime a few years ago, the Narendra Modi government has introduced several changes in it to encourage its adoption. The new income tax regime is essentially a regime that doesn’t allow you major tax deductions and exemptions, but favours taxpayers in the form of lower tax rates and more rationalised income tax slabs. For example; under the new income tax regime, common exemptions and deductions such as Section 80C, Section 80D, Section 80G, Section 80TTA, HRA, LTA are not allowed. However, the tax rates are lower and the income tax slabs are different. Under the new income tax regime, the 30% income tax slab kicks in at an income level above Rs 15 lakh, unlike the old tax regime where 30% tax is applicable above Rs 10 lakh.

    When the new income tax regime was first introduced, standard deduction was not a part of it. However, eventually a Rs 50,000 standard deduction was allowed, which was hiked to Rs 75,000 in last year’s Budget. It’s important to note that under the old income tax regime, the standard deduction continues to be Rs 50,000.

    One common ask of salaried taxpayers is that FM Sitharaman should allow popular exemptions and deductions such as Section 80C, HRA, LTA and Section 80D under the new income tax regime to make it more lucrative.

    With the new income tax regime becoming the default tax regime, personal tax experts also expect that the Modi government may eventually do away with the old income tax regime. While that may not happen this year, the path towards phasing out the old income tax regime may be outlined in this year’s Union Budget. Also, a simplified Direct Tax Code is likely to be tabled in the Budget Parliament session, which may find mention in FM Sitharaman’s Budget speech.





    As the Budget 2025 announcement draws near, there is anticipation and speculation about possible changes in income tax slabs and rates for the financial year 2025-26. Salaried taxpayers are hoping for some relief and tweaks in the new tax regime that could ease their tax burden.

    Finance Minister Nirmala Sitharaman is expected to make some announcements regarding income tax slabs and rates in the upcoming budget. There are talks of a possible restructuring of the tax slabs to provide relief to middle-class taxpayers who have been facing the brunt of high tax rates in recent years.

    With the economy still recovering from the impact of the pandemic, there is a hope that the government will take measures to boost disposable income for individuals and stimulate consumption. Changes in income tax slabs and rates could be one way to achieve this goal.

    Stay tuned for live updates on Income Tax Slabs 2025-26 Budget 2025 as FM Sitharaman unveils the new tax regime and announces any changes that could impact salaried taxpayers. All eyes are on the budget as taxpayers eagerly await news of possible income tax relief.

    Tags:

    Income Tax Slabs 2025-26, Budget 2025 Live Updates, Income Tax Rates, Income Tax Relief, Salaried Taxpayers, New Tax Regime, FM Sitharaman, Income Tax Changes 2025

    #Income #Tax #Slabs #Budget #Live #Updates #Tweak #income #tax #slabs #rates #income #tax #relief #salaried #taxpayers #expected #tax #regime #eyes #Sitharaman

  • Virginia senator opposes Trump nominee over budget concerns


    Virginia Senator Mark Warner expressed skepticism over President Trump’s pick to lead the Department of Health and Human Services, Robert F. Kennedy Jr., stating he does not plan to vote for confirmation.

    Warner, who said he has previously supported four of Trump’s nominees, voiced his concerns over Kennedy’s understanding on healthcare funding, views on Medicaid, vaccines, and more.

    RELATED: RFK Jr. faces tough questions on vaccine views in HHS nomination bid

    “He has no idea where he is going to cut,” Warner said. “Is he going to cut the researchers at NIH just because they work on a vaccine that he doesn’t like?”

    During the hearing, Warner challenged the nominee, Kennedy, interrupting him multiple times to demand “yes or no” answers.

    While Warner acknowledged his support for Kennedy’s commitment to addressing chronic health issues, he cited disagreements on other topics as the reason for his opposition.



    Virginia Senator Mark Warner has taken a strong stance against President Trump’s nominee for a key government position, citing serious budget concerns. Warner, who serves as the ranking member of the Senate Budget Committee, has expressed worries about the nominee’s potential impact on the country’s finances.

    In a statement released earlier today, Senator Warner stated, “I cannot in good conscience support this nomination. The individual in question has a track record of advocating for policies that would significantly increase our national debt and deficit. As a member of the Budget Committee, I believe it is my duty to prioritize fiscal responsibility and ensure that taxpayer dollars are being spent wisely.”

    This move by Senator Warner highlights the ongoing tensions between the Trump administration and congressional Democrats over budget and spending issues. As the confirmation process moves forward, it remains to be seen how other lawmakers will respond to Warner’s concerns and whether they will ultimately impact the nominee’s chances of being confirmed.

    Tags:

    1. Virginia senator
    2. Trump nominee
    3. Budget concerns
    4. Opposition to nominee
    5. Virginia politics
    6. Political news
    7. Senate confirmation
    8. Government spending
    9. Congressional hearings
    10. Virginia senatorial stance

    #Virginia #senator #opposes #Trump #nominee #budget #concerns

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