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US President Donald Trump’s administration ended the section 321 de minimis exemption, which had allowed low-value shipments—under $800—from China to enter the US Duty-free. The sudden removal of this loophole is set to affect millions of shipments from Chinese e-commerce giants, who together account for 30 percent of these direct-to-consumer shipments.

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The yen touched an eight-week high versus the dollar on Thursday after a Bank of Japan policy board member advocated continued interest rate hikes, while sterling slid as the Bank of England cut rates.
The pound fell sharply after the Bank of England cut interest rates as expected, but forecast higher inflation and weaker growth, with two officials calling for an even larger rate cut.&nbsp;
Sterling later pared some of those losses, having touched a one-month high on Wednesday. It was last down 0.54% at $1.2438.
Money markets now price in around 67 basis points of further BoE easing by the end of the year.
"The pound's losses may prove somewhat limited: the services-driven British economy is largely sheltered against trade war risks," Karl Schamotta, chief market strategist with payments company Corpay in Toronto, said in a research note.
The dollar index was up against a basket of peers at 107.69, but it still hovered near the lowest level since the start of last week, with investors beginning to entertain prospects that a global trade war could be averted.
In the absence of tariff headlines, markets looked ahead to the release on Friday of key U.S. monthly payrolls figures, the next major test for the U.S. monetary policy outlook.
The dollar index hit a two-year high of 110.17 on January 13, but has since retreated 2%.
"Driving this correction have been several factors, the largest of which has probably been this week's tariff news, where it looks like the Trump administration has been using tariffs for transactional not ideological purposes," said Chris Turner, global head of markets at ING.
U.S. President Donald Trump suspended planned tariff measures against Mexico and Canada this week, but imposed additional 10% levies on imports from China.
YEN STRENGTH
The yen strengthened as far as 151.81 per dollar - the strongest level since December 12 - in the Tokyo morning, after the BOJ's Naoki Tamura said the central bank must raise rates to at least 1% or so in the latter half of fiscal 2025 with upward risks to prices rising.
Japan's currency was last changing hands at 151.335 per dollar, up 0.82% on the previous day, paring some of the early gains after Tamura clarified that he didn't mean that the neutral rate should be 1%.
"There seems to be a good amount of yen buying pressure today (Thursday). Not really sure what's driving that, but it's been very correlated to rates, and that's breaking down just a little bit today," said Brad Bechtel, global head of FX at Jefferies in New York.
The market is currently pricing in a quarter-percentage-point BOJ rate hike by September.
"Tamura is known to be on the hawkish side," although his comments initially "fired up yen longs," said Shoki Omori, chief global desk strategist at Mizuho Securities.
Conversely, a quarter-percentage-point rate cut by the Federal Reserve is fully priced in for July, with markets expecting a total of 46 basis points of reductions by the December meeting, according to LSEG data.&nbsp;
U.S. Treasury Secretary Scott Bessent said on Wednesday that while Trump wants lower interest rates, he will not ask the Fed to cut rates.
Canada's loonie was at C$1.431 versus its U.S. counterpart after rising to the highest level since December 17 at C$1.4270 overnight. The Mexican peso was down 0.45% at 20.474 per dollar.
The euro edged down 0.19% to $1.0382.
Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

In the absence of tariff headlines, markets looked ahead to the release on Friday of key U.S. monthly payrolls figures, the next major test for the U.S. monetary policy outlook.

The yen touched an eight-week high versus the dollar on Thursday after a Bank of Japan policy board member advocated continued interest rate hikes, while sterling slid as the Bank of England cut rates. The pound fell sharply after the Bank of England cut interest rates as expected, but forecast higher inflation and weaker growth, with two officials calling for an even larger rate cut. Sterling later pared some of those losses, having touched a one-month high on Wednesday. It was last down 0.54% at $1.2438. Money markets now price in around 67 basis points of further BoE easing by the end of the year. "The pound's losses may prove somewhat limited: the services-driven British economy is largely sheltered against trade war risks," Karl Schamotta, chief market strategist with payments company Corpay in Toronto, said in a research note. The dollar index was up against a basket of peers at 107.69, but it still hovered near the lowest level since the start of last week, with investors beginning to entertain prospects that a global trade war could be averted. In the absence of tariff headlines, markets looked ahead to the release on Friday of key U.S. monthly payrolls figures, the next major test for the U.S. monetary policy outlook. The dollar index hit a two-year high of 110.17 on January 13, but has since retreated 2%. "Driving this correction have been several factors, the largest of which has probably been this week's tariff news, where it looks like the Trump administration has been using tariffs for transactional not ideological purposes," said Chris Turner, global head of markets at ING. U.S. President Donald Trump suspended planned tariff measures against Mexico and Canada this week, but imposed additional 10% levies on imports from China. YEN STRENGTH The yen strengthened as far as 151.81 per dollar - the strongest level since December 12 - in the Tokyo morning, after the BOJ's Naoki Tamura said the central bank must raise rates to at least 1% or so in the latter half of fiscal 2025 with upward risks to prices rising. Japan's currency was last changing hands at 151.335 per dollar, up 0.82% on the previous day, paring some of the early gains after Tamura clarified that he didn't mean that the neutral rate should be 1%. "There seems to be a good amount of yen buying pressure today (Thursday). Not really sure what's driving that, but it's been very correlated to rates, and that's breaking down just a little bit today," said Brad Bechtel, global head of FX at Jefferies in New York. The market is currently pricing in a quarter-percentage-point BOJ rate hike by September. "Tamura is known to be on the hawkish side," although his comments initially "fired up yen longs," said Shoki Omori, chief global desk strategist at Mizuho Securities. Conversely, a quarter-percentage-point rate cut by the Federal Reserve is fully priced in for July, with markets expecting a total of 46 basis points of reductions by the December meeting, according to LSEG data. U.S. Treasury Secretary Scott Bessent said on Wednesday that while Trump wants lower interest rates, he will not ask the Fed to cut rates. Canada's loonie was at C$1.431 versus its U.S. counterpart after rising to the highest level since December 17 at C$1.4270 overnight. The Mexican peso was down 0.45% at 20.474 per dollar. The euro edged down 0.19% to $1.0382. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Yen hits 8-week high, sterling drops after Bank of England rate cut

The Securities and Exchange Board of India (SEBI) has taken regulatory action against Asmita Patel, a stock market trader and educator, over allegations of unregistered investment advisory services, misleading claims, and regulatory violations. Patel, often referred to as the &ldquo;She-Wolf&rdquo; of the stock market, is under investigation for her trading practices and the financial gains made through her stock market courses, said a report by Economic Times.
<h2 class="p2">SEBI&rsquo;s Investigation and Findings</h2>
SEBI&rsquo;s inquiry into Patel&rsquo;s activities focuses on claims that she provided investment advice without the necessary regulatory approvals. Her stock market training programs, including courses such as LMIT and MPAT, reportedly promised high returns, with some claims suggesting returns of up to 300 per cent. However, SEBI&rsquo;s findings indicate discrepancies between these claims and her actual trading performance.
According to SEBI, Patel and her company, Asmita Patel Global School of Trading Pvt Ltd, made a net profit of Rs 12,28,365 from trading between 2019-20 and January 2024, said a report by Moneycontrol. This figure contrasts with her assertions of managing a Rs 140 crore portfolio through a proprietary trading system.
The investigation further revealed that the total trading volume generated by accounts held by Patel and her company during the period from August 26, 2019, to January 31, 2024, amounted to Rs 152.79 crore. SEBI&rsquo;s findings also noted claims made during her courses that she was managing Rs 283 crore in funds, which the regulator deemed baseless.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m6unbt1u-2ekznqnj-b17m702l">
SEBI has seized Rs 53.67 crore that Asmita Patel and five other related entities made illegally. Asmita Patel is also at risk of losing another Rs 104.6 crore it collected from course fees, which SEBI believes were part of unregistered advisory services. <a href="https://t.co/o7e8U1vOZ1">pic.twitter.com/o7e8U1vOZ1</a>
&mdash; Jayesh Thakkar (SEBI Registered RA) (@intradaygeeks) <a href="https://twitter.com/intradaygeeks/status/1887718256552685912?ref_src=twsrc%5Etfw">February 7, 2025</a></blockquote>
<h2 class="p2">Financial Impact and Regulatory Action</h2>
As part of its interim order issued on February 6, SEBI has impounded approximately Rs 54 crore in alleged illegal gains linked to Patel, her company, and three other entities. Additionally, all six entities involved have been asked to justify why the regulator should not seize the Rs 104.6 crore collected as course fees.
SEBI&rsquo;s action against Patel is part of a broader effort to regulate unregistered financial advisors and protect retail investors from misleading investment guidance.
Also read: <a href="https://www.wionews.com/business-economy/global-markets-stay-resilient-amid-uncertainties-8695356">Global markets stay resilient amid uncertainties</a>
<h2 class="p2">Investor Reactions and SEBI&rsquo;s Warning</h2>
Patel has built a significant following on social media, where many retail investors relied on her insights. SEBI&rsquo;s probe has led to uncertainty among her followers, with some expressing concerns over investments made based on her recommendations. Financial experts continue to advise caution, urging investors to seek guidance from SEBI-registered advisors and verify claims before making investment decisions.
Asmita Patel has not yet issued an official statement in response to SEBI&rsquo;s findings. Legal experts suggest she may challenge the regulatory action, potentially leading to a prolonged legal process. Meanwhile, SEBI maintains its focus on strengthening oversight and enforcement to ensure compliance within India&rsquo;s financial markets.

Asmita Patel, often referred to as the “She-Wolf” of the stock market, is under investigation for her trading practices and the financial gains made through her stock market courses.

The Securities and Exchange Board of India (SEBI) has taken regulatory action against Asmita Patel, a stock market trader and educator, over allegations of unregistered investment advisory services, misleading claims, and regulatory violations. Patel, often referred to as the “She-Wolf” of the stock market, is under investigation for her trading practices and the financial gains made through her stock market courses, said a report by Economic Times. SEBI’s Investigation and Findings SEBI’s inquiry into Patel’s activities focuses on claims that she provided investment advice without the necessary regulatory approvals. Her stock market training programs, including courses such as LMIT and MPAT, reportedly promised high returns, with some claims suggesting returns of up to 300 per cent. However, SEBI’s findings indicate discrepancies between these claims and her actual trading performance. According to SEBI, Patel and her company, Asmita Patel Global School of Trading Pvt Ltd, made a net profit of Rs 12,28,365 from trading between 2019-20 and January 2024, said a report by Moneycontrol. This figure contrasts with her assertions of managing a Rs 140 crore portfolio through a proprietary trading system. The investigation further revealed that the total trading volume generated by accounts held by Patel and her company during the period from August 26, 2019, to January 31, 2024, amounted to Rs 152.79 crore. SEBI’s findings also noted claims made during her courses that she was managing Rs 283 crore in funds, which the regulator deemed baseless. SEBI has seized Rs 53.67 crore that Asmita Patel and five other related entities made illegally. Asmita Patel is also at risk of losing another Rs 104.6 crore it collected from course fees, which SEBI believes were part of unregistered advisory services. pic.twitter.com/o7e8U1vOZ1 — Jayesh Thakkar (SEBI Registered RA) (@intradaygeeks) February 7, 2025 Financial Impact and Regulatory Action As part of its interim order issued on February 6, SEBI has impounded approximately Rs 54 crore in alleged illegal gains linked to Patel, her company, and three other entities. Additionally, all six entities involved have been asked to justify why the regulator should not seize the Rs 104.6 crore collected as course fees. SEBI’s action against Patel is part of a broader effort to regulate unregistered financial advisors and protect retail investors from misleading investment guidance. Also read: Global markets stay resilient amid uncertainties Investor Reactions and SEBI’s Warning Patel has built a significant following on social media, where many retail investors relied on her insights. SEBI’s probe has led to uncertainty among her followers, with some expressing concerns over investments made based on her recommendations. Financial experts continue to advise caution, urging investors to seek guidance from SEBI-registered advisors and verify claims before making investment decisions. Asmita Patel has not yet issued an official statement in response to SEBI’s findings. Legal experts suggest she may challenge the regulatory action, potentially leading to a prolonged legal process. Meanwhile, SEBI maintains its focus on strengthening oversight and enforcement to ensure compliance within India’s financial markets.

'Rs 54 crore seized': SEBI bans finfluencer 'She-Wolf' from trading in Indian stock markets

In line with market expectations, the Reserve Bank of India's Monetary Policy Committee (MPC) cut the key repo rate by 0.25 per cent to 6.25 per cent. This is the first rate cut in nearly 5 years and signals a shift in the central bank's policy to aid economic growth. Before this move, the RBI had kept the repo rate steady at 6.5 per cent for 11 straight meetings. RBI also raised India's GDP growth projection to 6.7 per cent from the previous estimate of 6.6 per cent.
<h2>RBI maintains a neutral policy stance</h2>
RBI's newly elected governor, Sanjay Malhotra, expressed optimism in the country's growth outlook, citing moderating inflation as a key factor. RBI also revised its inflation forecast for the next fiscal year to 4.2 per cent. According to Malhotra, rural consumption continues to improve, but urban consumption remains subdued. He emphasised that government policy support remains crucial for sustaining economic momentum. He also hailed the recent tax cuts announced in the budget as a major boost to household consumption.
<h2>Markets react with caution</h2>
Indian markets saw a muted response despite the rate cut. Investors also reacted to the moderate growth outlook for the next fiscal year. Analysts cite concerns over global economic uncertainty and domestic consumption trends as major factors that continue to weigh on sentiment.&nbsp;
Adhil Shetty, CEO of Bankbazaar.com reacted to the rate cut and said, 'The repo rate cut after 2 years is hugely welcome, and we congratulate Governor Malhotra on beginning his term with a bang. With the tax rate cuts earlier this month, the salaried and the middle class have received a double boost to tackle inflation and boost household savings.&nbsp;
He further explained, 'If you have a 20-year home loan at a rate of 8.75 per cent and had paid 12 EMIs by March, with a rate cut of 25 bps kicking in from April, your interest savings will improve by ₹8417 per lakh. For example, on a loan of ₹50 lakh, you&rsquo;ll save ₹4.20 lakh at this rate, with 10 EMIs being shaved off the loan tenure, all other parameters remaining constant.'
BankBazaar recommends that, 'borrowers with good credit scores seek more aggressive payment options like refinancing to a rate lower by 50 bps or more. If they keep the EMI constant with a lower rate &mdash; let&rsquo;s say 8.25 per cent &mdash; they will secure per-lakh savings of ₹14,480 over the remaining tenor. These savings of nearly 15 per cent per lakh are substantial. Assuming the rate kicks in from April 1 after 12 EMIs of this loan have been paid, we get per-lakh interest savings of ₹3002 from the rest of the year. On a loan of ₹50 lakh, this implies savings of ₹1.50 lakh for the second year of the loan. Now, if we see these savings in the backdrop of additional savings from income tax slab hikes, a salaried individual can have substantial gains for FY25-25. For instance, A salaried person with a gross income of ₹25 lakh and a home loan of ₹50 lakh (20 years, 9%, 12 EMIs paid by March 2025) can hope to save a total of ₹1.37 lakh in FY2025-26 or ₹11,461 per month. This will be through a combination of interest savings on the home loan rate reduction of 25 BPS and the tax savings from higher tax slabs from April 1.'

Business & Economy, Before this move, the RBI had kept the repo rate steady at 6.5 per cent for 11 straight meetings. RBI also raised India's GDP growth projection.

In line with market expectations, the Reserve Bank of India's Monetary Policy Committee (MPC) cut the key repo rate by 0.25 per cent to 6.25 per cent. This is the first rate cut in nearly 5 years and signals a shift in the central bank's policy to aid economic growth. Before this move, the RBI had kept the repo rate steady at 6.5 per cent for 11 straight meetings. RBI also raised India's GDP growth projection to 6.7 per cent from the previous estimate of 6.6 per cent. RBI maintains a neutral policy stance RBI's newly elected governor, Sanjay Malhotra, expressed optimism in the country's growth outlook, citing moderating inflation as a key factor. RBI also revised its inflation forecast for the next fiscal year to 4.2 per cent. According to Malhotra, rural consumption continues to improve, but urban consumption remains subdued. He emphasised that government policy support remains crucial for sustaining economic momentum. He also hailed the recent tax cuts announced in the budget as a major boost to household consumption. Markets react with caution Indian markets saw a muted response despite the rate cut. Investors also reacted to the moderate growth outlook for the next fiscal year. Analysts cite concerns over global economic uncertainty and domestic consumption trends as major factors that continue to weigh on sentiment. Adhil Shetty, CEO of Bankbazaar.com reacted to the rate cut and said, 'The repo rate cut after 2 years is hugely welcome, and we congratulate Governor Malhotra on beginning his term with a bang. With the tax rate cuts earlier this month, the salaried and the middle class have received a double boost to tackle inflation and boost household savings. He further explained, 'If you have a 20-year home loan at a rate of 8.75 per cent and had paid 12 EMIs by March, with a rate cut of 25 bps kicking in from April, your interest savings will improve by ₹8417 per lakh. For example, on a loan of ₹50 lakh, you’ll save ₹4.20 lakh at this rate, with 10 EMIs being shaved off the loan tenure, all other parameters remaining constant.' BankBazaar recommends that, 'borrowers with good credit scores seek more aggressive payment options like refinancing to a rate lower by 50 bps or more. If they keep the EMI constant with a lower rate — let’s say 8.25 per cent — they will secure per-lakh savings of ₹14,480 over the remaining tenor. These savings of nearly 15 per cent per lakh are substantial. Assuming the rate kicks in from April 1 after 12 EMIs of this loan have been paid, we get per-lakh interest savings of ₹3002 from the rest of the year. On a loan of ₹50 lakh, this implies savings of ₹1.50 lakh for the second year of the loan. Now, if we see these savings in the backdrop of additional savings from income tax slab hikes, a salaried individual can have substantial gains for FY25-25. For instance, A salaried person with a gross income of ₹25 lakh and a home loan of ₹50 lakh (20 years, 9%, 12 EMIs paid by March 2025) can hope to save a total of ₹1.37 lakh in FY2025-26 or ₹11,461 per month. This will be through a combination of interest savings on the home loan rate reduction of 25 BPS and the tax savings from higher tax slabs from April 1.'

RBI cuts repo rate to 6.25%, first cut in 5 years

Swiggy and Zomato remain locked in intense competition across food delivery and quick commerce. Swiggy’s December quarter results highlight key challenges, with its net loss widening to rs 799 crore, up from rs 574 crore a year ago. Revenue from operations grew 31% year-on-year, but rising expenses added pressure on profitability.

Swiggy Vs Zomato: Battle for market dominance

India is reviewing tariffs on over 30 key imports, including significant cuts on solar cells, household goods, and luxury cars. The peak import tariff has been reduced from 150% to 70%, potentially benefiting US exports and signaling a shift in trade dynamics.

India cuts tariffs on key imports in possible 'homage' to Trump’s trade policies

Chinese fashion giant SHEIN has re-entered the Indian market as foreign retailers flock to the country, driven by rising demand. With India’s retail market booming, global fashion and luxury brands are seeing a surge in interest. Shein’s app is already ranking among the top 10 in India.

SHEIN returns to India as foreign retailers rush to tap booming fashion market

Next week, top tech CEOs and leaders from about a hundred countries will gather in Paris to focus on the safe development of artificial intelligence (AI).
<h2>Paris AI summit: Focus on Trump &amp; Deepseek</h2>
All eyes will be on the US and China to see if they can find some common path amid the trade war and AI supremacy race. Chinese AI startup, Deepseek, will also be the centre of the discussions.
Nearly a year after major nations met at Bletchley Park in England to combat the risks of AI, a more diverse group of nations will now meet in Paris to plan how to use the technology.
On February 10 and 11, France and India will hold the AI Action Summit. The summit will highlight France's strengths in two areas: Data centre power from renewable sources and publicly available technologies known as "open-source."
Europe&rsquo;s second-largest economy is keen to promote its own AI industry. Additionally, the focus will be on promoting sovereignty in a global AI economy and reducing labour disruption.
Top executives from a plethora of companies, including Alphabet, Microsoft, and hundreds of other tech firms will attend the summit.
A Reuters report quoting sources shows that on Monday, top government officials will have dinner with a few handpicked CEOs, and on Tuesday, OpenAI CEO Sam Altman is scheduled to give a presentation.
However, with Trump in the white house, there is no clarity on whether the US will reach a consensus with other nations on AI. On behalf of the American delegation, Vice President JD Vance will attend the summit.
(With the inputs from the agencies)

Business & Economy: Next week, top tech CEOs and leaders from about a hundred countries will gather in Paris to focus on the safe development of artificial intelligence (AI).

Next week, top tech CEOs and leaders from about a hundred countries will gather in Paris to focus on the safe development of artificial intelligence (AI). Paris AI summit: Focus on Trump & Deepseek All eyes will be on the US and China to see if they can find some common path amid the trade war and AI supremacy race. Chinese AI startup, Deepseek, will also be the centre of the discussions. Nearly a year after major nations met at Bletchley Park in England to combat the risks of AI, a more diverse group of nations will now meet in Paris to plan how to use the technology. On February 10 and 11, France and India will hold the AI Action Summit. The summit will highlight France's strengths in two areas: Data centre power from renewable sources and publicly available technologies known as "open-source." Europe’s second-largest economy is keen to promote its own AI industry. Additionally, the focus will be on promoting sovereignty in a global AI economy and reducing labour disruption. Top executives from a plethora of companies, including Alphabet, Microsoft, and hundreds of other tech firms will attend the summit. A Reuters report quoting sources shows that on Monday, top government officials will have dinner with a few handpicked CEOs, and on Tuesday, OpenAI CEO Sam Altman is scheduled to give a presentation. However, with Trump in the white house, there is no clarity on whether the US will reach a consensus with other nations on AI. On behalf of the American delegation, Vice President JD Vance will attend the summit. (With the inputs from the agencies)

Global tech leaders to convene in Paris for AI Action Summit

Global markets are exuding a sense of resilience despite the fog of uncertainties.&nbsp;US 'Big tech' stock prices have fallen, the value of the safe-haven yen has soared to new heights, and fears of a worldwide trade war have taken hold.
However, risk assets show the ability to bounce back. Shares in South Korea, Japan, and Australia rose. Stocks in Hong Kong and mainland China fluctuated in opening trade.
<h2>Traders look beyond tariff wars, for now</h2>
Following two consecutive days of gains for the S&amp;P 500 and the Nasdaq 100, which extended a rebound from Monday's decline, US Equity futures remained steady.&nbsp;Reasons for this resiliency, or the ability of the market to bounce back, include lower US Treasuries and dollars and abundant market liquidity.
The combination eases financial conditions globally, encouraging risk-taking in broader markets. However, the latest earnings readings weighed on tech stocks.&nbsp;Shares of Alphabet, Google&rsquo;s parent company, plummeted 7 per cent on Wednesday, their worst day in a year, and AMD shares lost 6 per cent.
Still, the Nasdaq recouped its early losses to finish the day marginally higher. Major technology stock index 'Faang' ended the day in the green, ending near its recent all-time high.
After China officially launched a complaint with the World Trade Organisation, all eyes in Asia are on what else Beijing would do in reaction to Trump's 10 per cent tariffs on Chinese goods.&nbsp;Following Wednesday's Lunar New Year holiday, Chinese markets were mostly quiet, but yuan pressure is mounting.
In other currency news, investors priced in tighter monetary policy from Japan following solid wage numbers, sending the yen soaring over 1 per cent to an eight-week high versus the dollar.
In commodities, gold held near its record high after Trump accentuated geopolitical risks and worries about the global economy.&nbsp;Gold resumed its rally as trade war jitters continued to attract investors to the safe-haven metal, sending it to fresh record highs on Wednesday.
Oil prices fell as US crude inventories swelled and traders worried about China-US trade. Benchmark Brent crude was down over 2 per cent to trade below 75 dollars a barrel.&nbsp;
Supply concerns also weighed on oil. Trump drove Iran's oil exports to near zero during part of his first term after reimposing sanctions to curtail the country's nuclear program.
(With the inputs from the agencies)

Business & Economy: US 'Big tech' stock prices have fallen, the value of the safe-haven yen has soared to new heights, and fears of a worldwide trade war have taken hold. 

Global markets are exuding a sense of resilience despite the fog of uncertainties. US 'Big tech' stock prices have fallen, the value of the safe-haven yen has soared to new heights, and fears of a worldwide trade war have taken hold. However, risk assets show the ability to bounce back. Shares in South Korea, Japan, and Australia rose. Stocks in Hong Kong and mainland China fluctuated in opening trade. Traders look beyond tariff wars, for now Following two consecutive days of gains for the S&P 500 and the Nasdaq 100, which extended a rebound from Monday's decline, US Equity futures remained steady. Reasons for this resiliency, or the ability of the market to bounce back, include lower US Treasuries and dollars and abundant market liquidity. The combination eases financial conditions globally, encouraging risk-taking in broader markets. However, the latest earnings readings weighed on tech stocks. Shares of Alphabet, Google’s parent company, plummeted 7 per cent on Wednesday, their worst day in a year, and AMD shares lost 6 per cent. Still, the Nasdaq recouped its early losses to finish the day marginally higher. Major technology stock index 'Faang' ended the day in the green, ending near its recent all-time high. After China officially launched a complaint with the World Trade Organisation, all eyes in Asia are on what else Beijing would do in reaction to Trump's 10 per cent tariffs on Chinese goods. Following Wednesday's Lunar New Year holiday, Chinese markets were mostly quiet, but yuan pressure is mounting. In other currency news, investors priced in tighter monetary policy from Japan following solid wage numbers, sending the yen soaring over 1 per cent to an eight-week high versus the dollar. In commodities, gold held near its record high after Trump accentuated geopolitical risks and worries about the global economy. Gold resumed its rally as trade war jitters continued to attract investors to the safe-haven metal, sending it to fresh record highs on Wednesday. Oil prices fell as US crude inventories swelled and traders worried about China-US trade. Benchmark Brent crude was down over 2 per cent to trade below 75 dollars a barrel. Supply concerns also weighed on oil. Trump drove Iran's oil exports to near zero during part of his first term after reimposing sanctions to curtail the country's nuclear program. (With the inputs from the agencies)

Global markets stay resilient amid uncertainties

The Reserve Bank of India is widely expected to cut interest rates for the first time in nearly five years. This is according to a Reuters survey of economists and analysts.&nbsp;Inflation in India has declined; however, it still remains above the RBI's medium-term target of four per cent.
Still, the expected rate cut is to revive the flagging economy, which has seen growth hit a four-year low. This move will come under new governor Sanjay Malhotra's first monetary policy review on Friday.
<h2>After-tax relief, rate cuts in India soon?</h2>
The RBI's policy decision comes on the heels of the country's budget, which slashed tax rates to boost growth and spending.&nbsp;Analysts also cite the government's plan to tighten finances and deficit for the expected RBI move.
Shilan Shah, deputy chief emerging markets economist at Capital Economics, told Reuters, "With the finance ministry still keeping the overall fiscal deficit in check, there is scope for the RBI to do more to boost the economy." He added, &ldquo;This strengthens our conviction that the bank &ndash; under new leadership - will begin easing monetary policy...on Friday."
Inflation has stubbornly remained above the rbi's target for most of the last year despite the slowdown in growth.&nbsp;The rupee has also been weakening to repeated record lows despite the RBI selling dollars to stabilise the currency.
Still, some economists are worried about inflation and are pencilling in a no-change prediction for Friday. However, the RBI's recent moves show a rate cut is coming.&nbsp;The central bank announced a host of measures in late January which together would infuse 1.5 trillion rupees or 17.22 billion dollars into the banking system.
However, investors are still hopeful for more steps, including another cash reserve ratio cut on Friday.
(With the inputs from the agencies)

Business & Economy: The Reserve Bank of India is expected to cut interest rates for the first time in five years. This will come under new governor Sanjay Malhotra's first monetary policy review on Friday.

The Reserve Bank of India is widely expected to cut interest rates for the first time in nearly five years. This is according to a Reuters survey of economists and analysts. Inflation in India has declined; however, it still remains above the RBI's medium-term target of four per cent. Still, the expected rate cut is to revive the flagging economy, which has seen growth hit a four-year low. This move will come under new governor Sanjay Malhotra's first monetary policy review on Friday. After-tax relief, rate cuts in India soon? The RBI's policy decision comes on the heels of the country's budget, which slashed tax rates to boost growth and spending. Analysts also cite the government's plan to tighten finances and deficit for the expected RBI move. Shilan Shah, deputy chief emerging markets economist at Capital Economics, told Reuters, "With the finance ministry still keeping the overall fiscal deficit in check, there is scope for the RBI to do more to boost the economy." He added, “This strengthens our conviction that the bank – under new leadership - will begin easing monetary policy...on Friday." Inflation has stubbornly remained above the rbi's target for most of the last year despite the slowdown in growth. The rupee has also been weakening to repeated record lows despite the RBI selling dollars to stabilise the currency. Still, some economists are worried about inflation and are pencilling in a no-change prediction for Friday. However, the RBI's recent moves show a rate cut is coming. The central bank announced a host of measures in late January which together would infuse 1.5 trillion rupees or 17.22 billion dollars into the banking system. However, investors are still hopeful for more steps, including another cash reserve ratio cut on Friday. (With the inputs from the agencies)

India's RBI seen cutting rates for the first time since 2020

US President Donald Trump backed away from his latest threats to start a trade war with America's neighbours.&nbsp;Deals on no US tariffs for Mexico and Canada helped mark a positive step away from the brink, at least for another month.
Markets have been all over the place but going nowhere fast. Like the tariffs, they are back to square one. So far this week, the tariff story is trumping US payroll data as a driver.
<h2>Trump's tariff chaos driving global markets</h2>
Market moves continue to get pushed and pulled by the trump tariff on/off switch. That confirms that delayed tariff deals done to help avoid tariffs are good for risk exposure and growth.
The deep sell-off and the reversal in markets within 24 hours reflect Trump's dealmaking underscores that everything was negotiable.&nbsp;The latest news on Mexico and Canada is certainly a glass half full. However, the worry is that the can is being kicked down the road.
For now, the deal has extended the tariff drama for another month. But the real question now is: does Trump have clay feet?&nbsp;Is he blinking after the chaos and deep sell-off in markets? Trump is also under fire over his exercise of power.
On Monday, Trump sought to allay one of the most major recent scandals: Musk's access to treasury systems that oversee trillions of dollars of payments authorised by Congress.
This was in the midst of Trump's first weeks in office, during which some of his actions were deemed unconstitutional by legal experts.&nbsp;Trump stated that he has authorised the Tesla co-founder to oversee American government expenditures before payments.
However, he stressed that Musk does not have the authority to halt payments unilaterally without authorisation.&nbsp;The criticism, though, is of the access Musk has and the platform to use this to benefit many of his own businesses.
(With the inputs from the agencies)

Business & Economy: Market moves continue to get pushed and pulled by the trump tariff on/off switch. Markets have been all over the place but going nowhere fast. 

US President Donald Trump backed away from his latest threats to start a trade war with America's neighbours. Deals on no US tariffs for Mexico and Canada helped mark a positive step away from the brink, at least for another month. Markets have been all over the place but going nowhere fast. Like the tariffs, they are back to square one. So far this week, the tariff story is trumping US payroll data as a driver. Trump's tariff chaos driving global markets Market moves continue to get pushed and pulled by the trump tariff on/off switch. That confirms that delayed tariff deals done to help avoid tariffs are good for risk exposure and growth. The deep sell-off and the reversal in markets within 24 hours reflect Trump's dealmaking underscores that everything was negotiable. The latest news on Mexico and Canada is certainly a glass half full. However, the worry is that the can is being kicked down the road. For now, the deal has extended the tariff drama for another month. But the real question now is: does Trump have clay feet? Is he blinking after the chaos and deep sell-off in markets? Trump is also under fire over his exercise of power. On Monday, Trump sought to allay one of the most major recent scandals: Musk's access to treasury systems that oversee trillions of dollars of payments authorised by Congress. This was in the midst of Trump's first weeks in office, during which some of his actions were deemed unconstitutional by legal experts. Trump stated that he has authorised the Tesla co-founder to oversee American government expenditures before payments. However, he stressed that Musk does not have the authority to halt payments unilaterally without authorisation. The criticism, though, is of the access Musk has and the platform to use this to benefit many of his own businesses. (With the inputs from the agencies)

The tariff on/off switch reflects bluster diplomacy

Just before Donald Trump's win in November last year, electric vehicle maker Tesla's stock was headed for its third consecutive year of losses in its fifteen years as a public business.&nbsp;However, following Trump's win, the company's stock surge helped the firm rank among the top performers for 2024 in the S&amp;P 500 index.
Elon Musk's 'Trump trade' extends beyond the turnaround in his companies' stock fortunes to his firm's crypto holdings. The ground reality for Tesla remains the same as before Trump's election victory.
There is still complete paralysis inside the EV maker as demand for its automobiles remains shaky, and the future becomes bleak. So, what set off the change in fortunes?&nbsp;Elon Musk's robust campaign support for Donald Trump and his subsequent unofficial participation in the president-elect's administration has triggered a turnaround.
<h2>Tesla's turnaround</h2>
Investors see that move as a political masterstroke on Musk's part. Shares of Tesla were down over two per cent leading up to the US presidential election.&nbsp;The stock, though, reversed to surge by over 70 per cent after the election results, bringing their 2024 total gains to nearly 70 per cent.
Despite no change to the company's core competencies, the EV maker's market valuation increased by 572 billion dollars in the last two months of 2024, reaching about 1.4 trillion dollars.&nbsp;However, what's caught everyone's attention is Tesla's bitcoin holdings, which boosted its last quarterly profits.
Tesla booked a 600 million dollar boost from Bitcoin after an accounting change. That is according to chief financial officer Vaibhav Taneja during Tesla's earnings call last week.
The accounting technique of mark-to-market resulted in a boost from bitcoin holdings. Trump's crypto embrace spurred bitcoin surge in the December quarter to new record highs repeatedly.
During the previous surge in crypto prices in 2021, tesla disclosed an overall investment of 1.5 billion dollars in bitcoin. Tesla showed digital assets of 1.08 billion dollars on its financial sheet in the latest quarterly report.&nbsp;Following Trump's promise of regulatory backing, the cryptocurrency sector is seeing a resurgence.
After more than doubling in the last year, bitcoin's value peaked on Trump's inauguration day at over 109,000 dollars. Although, the OG token has since fallen in value to below 100,000 dollars.
Despite the boost, the adjusted profits per share for Tesla's December quarter came in at 73 cents, which was lower than the 75 cents expectations on the street.&nbsp;The intention to launch robotaxi operations and the projection of a sales rebound this year gave investors hope. The stock price of the Elon Musk-led business has risen this year again.
Meanwhile, Trump's stance of being anti-electric vehicles is well known. However, investors seem to be placing their bets on Musk's ongoing cosy relationship with the administration to pave the way for Tesla's goal of developing a completely autonomous vehicle.
Wall Street analysts have raised the stock's price estimates significantly. The bets are that regulatory restrictions will be eased significantly, benefitting Tesla's self-driving technology ambitions.
(With the inputs from the agencies)

Business & Economy: Elon Musk's 'Trump trade' extends beyond the turnaround in his companies' stock fortunes to his firm's crypto holdings. 

Just before Donald Trump's win in November last year, electric vehicle maker Tesla's stock was headed for its third consecutive year of losses in its fifteen years as a public business. However, following Trump's win, the company's stock surge helped the firm rank among the top performers for 2024 in the S&P 500 index. Elon Musk's 'Trump trade' extends beyond the turnaround in his companies' stock fortunes to his firm's crypto holdings. The ground reality for Tesla remains the same as before Trump's election victory. There is still complete paralysis inside the EV maker as demand for its automobiles remains shaky, and the future becomes bleak. So, what set off the change in fortunes? Elon Musk's robust campaign support for Donald Trump and his subsequent unofficial participation in the president-elect's administration has triggered a turnaround. Tesla's turnaround Investors see that move as a political masterstroke on Musk's part. Shares of Tesla were down over two per cent leading up to the US presidential election. The stock, though, reversed to surge by over 70 per cent after the election results, bringing their 2024 total gains to nearly 70 per cent. Despite no change to the company's core competencies, the EV maker's market valuation increased by 572 billion dollars in the last two months of 2024, reaching about 1.4 trillion dollars. However, what's caught everyone's attention is Tesla's bitcoin holdings, which boosted its last quarterly profits. Tesla booked a 600 million dollar boost from Bitcoin after an accounting change. That is according to chief financial officer Vaibhav Taneja during Tesla's earnings call last week. The accounting technique of mark-to-market resulted in a boost from bitcoin holdings. Trump's crypto embrace spurred bitcoin surge in the December quarter to new record highs repeatedly. During the previous surge in crypto prices in 2021, tesla disclosed an overall investment of 1.5 billion dollars in bitcoin. Tesla showed digital assets of 1.08 billion dollars on its financial sheet in the latest quarterly report. Following Trump's promise of regulatory backing, the cryptocurrency sector is seeing a resurgence. After more than doubling in the last year, bitcoin's value peaked on Trump's inauguration day at over 109,000 dollars. Although, the OG token has since fallen in value to below 100,000 dollars. Despite the boost, the adjusted profits per share for Tesla's December quarter came in at 73 cents, which was lower than the 75 cents expectations on the street. The intention to launch robotaxi operations and the projection of a sales rebound this year gave investors hope. The stock price of the Elon Musk-led business has risen this year again. Meanwhile, Trump's stance of being anti-electric vehicles is well known. However, investors seem to be placing their bets on Musk's ongoing cosy relationship with the administration to pave the way for Tesla's goal of developing a completely autonomous vehicle. Wall Street analysts have raised the stock's price estimates significantly. The bets are that regulatory restrictions will be eased significantly, benefitting Tesla's self-driving technology ambitions. (With the inputs from the agencies)

Tesla reports mark-to-market benefit from Bitcoin holdings

The entities behind President Trump's crypto meme coin have made about 100 million dollars in trading fees in less than two weeks.
This is according to a Reuters report quoting estimates from three blockchain research businesses. This is a huge windfall for them. However, thousands of small traders have lost money.
The meme coin saw a rapid spike in value, reaching almost 14.5 billion dollars in just two days. However, it has fallen by two-thirds since then.&nbsp;By the end of January, the trading costs for the $Trump token had reached between 86 million and 100 million dollars.
This is according to an analysis of the blockchain - a decentralised database that records all transactions about Trump's meme coin.&nbsp;A Trump-owned firm, CIC Digital, is one of the companies behind the meme coin.
According to the official website, CIC Digital would "receive trading revenue derived from trading activities" of the meme coin.
However, the Reuters report showed it was unable to verify whether Trump has made any money personally.&nbsp;According to chain analysis, at least fifty of the wealthiest investors in the trump meme coin have made returns of over 10 million dollars each.
<h2>Small traders lose money on Trump memecoin</h2>
On the other hand, about 200,000 cryptocurrency wallets, predominantly with little assets, incurred losses on $Trump.
Being the first "Crypto President" and transforming the United States into the "Crypto capital of the world" are two of Trump's stated goals in his campaign promises to promote digital asset ownership and reforms.
Several influential people in his inner circle, cabinet, and administration are crypto holders or have connections to the crypto business.&nbsp;However, ethics experts and democratic party opponents have criticised the mix of huge sums of money and the opaqueness of his crypto projects.
Richard Briffault, a law professor at Columbia University, told Reuters, "There's an ethical concern that in effect he has the power to regulate his own business."
(With inputs from the agencies)

Business & Economy: The entities behind President Trump's crypto meme coin have made about 100 million dollars in trading fees in less than two weeks. 

The entities behind President Trump's crypto meme coin have made about 100 million dollars in trading fees in less than two weeks. This is according to a Reuters report quoting estimates from three blockchain research businesses. This is a huge windfall for them. However, thousands of small traders have lost money. The meme coin saw a rapid spike in value, reaching almost 14.5 billion dollars in just two days. However, it has fallen by two-thirds since then. By the end of January, the trading costs for the $Trump token had reached between 86 million and 100 million dollars. This is according to an analysis of the blockchain - a decentralised database that records all transactions about Trump's meme coin. A Trump-owned firm, CIC Digital, is one of the companies behind the meme coin. According to the official website, CIC Digital would "receive trading revenue derived from trading activities" of the meme coin. However, the Reuters report showed it was unable to verify whether Trump has made any money personally. According to chain analysis, at least fifty of the wealthiest investors in the trump meme coin have made returns of over 10 million dollars each. Small traders lose money on Trump memecoin On the other hand, about 200,000 cryptocurrency wallets, predominantly with little assets, incurred losses on $Trump. Being the first "Crypto President" and transforming the United States into the "Crypto capital of the world" are two of Trump's stated goals in his campaign promises to promote digital asset ownership and reforms. Several influential people in his inner circle, cabinet, and administration are crypto holders or have connections to the crypto business. However, ethics experts and democratic party opponents have criticised the mix of huge sums of money and the opaqueness of his crypto projects. Richard Briffault, a law professor at Columbia University, told Reuters, "There's an ethical concern that in effect he has the power to regulate his own business." (With inputs from the agencies)

Trump's meme coin made nearly $100 million in trading fees

Gujarat Chief Minister Bhupendra Patel launched the Sensex futures & options contracts at the India International Exchange located in GIFT city, Gandhinagar. This move marks a significant step in India’s financial journey, expanding its global presence.

Gujarat CM launches Sensex futures & options at GIFT city

Gold prices soared to a record high on Monday as investors turned to safe-haven assets following US President Donald Trump's decision to impose tariffs on Canada, and Mexico. Watch this report for more details!

Gold prices hit record high as Trump tariffs spur safe-haven buying

Finance Minister Nirmala Sitharaman tabled the union budget 2025-26 on Saturday. Like other budgets, this budget also garnered major attention on social media. The one major announcement on everybody's mind was the increase in the nil tax slab from ₹7 lakhs to ₹12 lakhs.&nbsp;
New Tax regime
₹0-4 lakh -- Nil ₹4-8 lakh -- 5% ₹8-12 lakh -- 10% ₹16-20 lakh -- 20% ₹20-24 lakh -- 25% Above ₹24 lakh -- 30%
To calculate the tax rebate on incomes of ₹13 lakhs, ₹15 lakhs, and ₹20 lakhs, here are the numbers:
Income = ₹13,00,000
₹0&ndash;4 lakh: 0% = ₹0 ₹4&ndash;8 lakh (₹4 lakh): 5% of ₹4,00,000 = ₹20,000 ₹8&ndash;12 lakh (₹4 lakh): 10% of ₹4,00,000 = ₹40,000 ₹12&ndash;13 lakh (₹1 lakh): 20% of ₹1,00,000 = ₹20,000
Total Tax = ₹0 + ₹20,000 + ₹40,000 + ₹20,000 = ₹80,000
 Income = ₹15,00,000
₹0&ndash;4 lakh: 0% = ₹0 ₹4&ndash;8 lakh (₹4 lakh): 5% of ₹4,00,000 = ₹20,000 ₹8&ndash;12 lakh (₹4 lakh): 10% of ₹4,00,000 = ₹40,000 ₹12&ndash;15 lakh (₹3 lakh): 20% of ₹3,00,000 = ₹60,000
Total Tax = ₹0 + ₹20,000 + ₹40,000 + ₹60,000 = ₹1,20,000
 Income = ₹20,00,000
₹0&ndash;4 lakh: 0% = ₹0 ₹4&ndash;8 lakh (₹4 lakh): 5% of ₹4,00,000 = ₹20,000 ₹8&ndash;12 lakh (₹4 lakh): 10% of ₹4,00,000 = ₹40,000 ₹12&ndash;16 lakh (₹4 lakh): 20% of ₹4,00,000 = ₹80,000 ₹16&ndash;20 lakh (₹4 lakh): 25% of ₹4,00,000 = ₹1,00,000
Total Tax = ₹0 + ₹20,000 + ₹40,000 + ₹80,000 + ₹1,00,000 = ₹2,40,000
The new tax bill will be tabled next week. While everybody knows about the latest changes, other major announcements have also been made regarding direct income tax.
<h2>TDS &amp; TCS simplifications</h2>
To simplify tax compliance, the government has announced major reforms. This includes increasing the TDS threshold on rent from ₹2.40 lakhs to ₹6 lakhs per year and raising the TCS exemption limit on Liberalised Remittance Scheme (LRS) transactions from ₹7 lakhs to ₹10 lakhs. TCS has also been removed from education-related remittances in education loans. Special focus is on senior citizens. The tax deduction limit on interest income has been doubled to reduce the tax burden among retirees. Tax exemption has also been provided on old National Savings Scheme (NSS) accounts.
<h2>Deduction for NPS Vatsalya Scheme</h2>
Budget 2025 extends tax benefits to the newly launched NPS Vatsalya Scheme. This new scheme allows parents and guardians to open and manage an NPS account for minors for minors until they reach the age of 18 years. The contributions would be eligible for deduction under Sector 80CCD(1B) up to a maximum of ₹50,000. The scheme also allows for partial withdrawals under special circumstances, with no tax deduction for withdrawals less than 25 per cent of the contribution amount.
<h2>Rationalisation of taxation of ULIPs</h2>
Unit-linked insurance plans serve a dual purpose: they are life insurance policies and investment opportunities. Earlier, ULIPs were taxed as income from other sources, with 30 per cent rates. Under the new provisions, ULIPs with annual premiums above ₹2.5 lakhs will be taxed as capital gains instead of income. Long-term capital gains beyond 1 year will be taxed at 12.5 per cent.
<h2>Other notable provisions</h2>
The time limit to file an updated return has been extended from 2 years to 4 years. Rules have also been simplified for self-occupied properties. The annual value of a self-occupied property will be considered as nil.&nbsp;

Business & Economy, The one major announcement on everybody's mind was the increase in the nil tax slab from ₹7 lakhs to ₹12 lakhs. The new tax bill will be tabled next week.

Finance Minister Nirmala Sitharaman tabled the union budget 2025-26 on Saturday. Like other budgets, this budget also garnered major attention on social media. The one major announcement on everybody's mind was the increase in the nil tax slab from ₹7 lakhs to ₹12 lakhs. New Tax regime ₹0-4 lakh -- Nil ₹4-8 lakh -- 5% ₹8-12 lakh -- 10% ₹16-20 lakh -- 20% ₹20-24 lakh -- 25% Above ₹24 lakh -- 30% To calculate the tax rebate on incomes of ₹13 lakhs, ₹15 lakhs, and ₹20 lakhs, here are the numbers: Income = ₹13,00,000 ₹0–4 lakh: 0% = ₹0 ₹4–8 lakh (₹4 lakh): 5% of ₹4,00,000 = ₹20,000 ₹8–12 lakh (₹4 lakh): 10% of ₹4,00,000 = ₹40,000 ₹12–13 lakh (₹1 lakh): 20% of ₹1,00,000 = ₹20,000 Total Tax = ₹0 + ₹20,000 + ₹40,000 + ₹20,000 = ₹80,000 Income = ₹15,00,000 ₹0–4 lakh: 0% = ₹0 ₹4–8 lakh (₹4 lakh): 5% of ₹4,00,000 = ₹20,000 ₹8–12 lakh (₹4 lakh): 10% of ₹4,00,000 = ₹40,000 ₹12–15 lakh (₹3 lakh): 20% of ₹3,00,000 = ₹60,000 Total Tax = ₹0 + ₹20,000 + ₹40,000 + ₹60,000 = ₹1,20,000 Income = ₹20,00,000 ₹0–4 lakh: 0% = ₹0 ₹4–8 lakh (₹4 lakh): 5% of ₹4,00,000 = ₹20,000 ₹8–12 lakh (₹4 lakh): 10% of ₹4,00,000 = ₹40,000 ₹12–16 lakh (₹4 lakh): 20% of ₹4,00,000 = ₹80,000 ₹16–20 lakh (₹4 lakh): 25% of ₹4,00,000 = ₹1,00,000 Total Tax = ₹0 + ₹20,000 + ₹40,000 + ₹80,000 + ₹1,00,000 = ₹2,40,000 The new tax bill will be tabled next week. While everybody knows about the latest changes, other major announcements have also been made regarding direct income tax. TDS & TCS simplifications To simplify tax compliance, the government has announced major reforms. This includes increasing the TDS threshold on rent from ₹2.40 lakhs to ₹6 lakhs per year and raising the TCS exemption limit on Liberalised Remittance Scheme (LRS) transactions from ₹7 lakhs to ₹10 lakhs. TCS has also been removed from education-related remittances in education loans. Special focus is on senior citizens. The tax deduction limit on interest income has been doubled to reduce the tax burden among retirees. Tax exemption has also been provided on old National Savings Scheme (NSS) accounts. Deduction for NPS Vatsalya Scheme Budget 2025 extends tax benefits to the newly launched NPS Vatsalya Scheme. This new scheme allows parents and guardians to open and manage an NPS account for minors for minors until they reach the age of 18 years. The contributions would be eligible for deduction under Sector 80CCD(1B) up to a maximum of ₹50,000. The scheme also allows for partial withdrawals under special circumstances, with no tax deduction for withdrawals less than 25 per cent of the contribution amount. Rationalisation of taxation of ULIPs Unit-linked insurance plans serve a dual purpose: they are life insurance policies and investment opportunities. Earlier, ULIPs were taxed as income from other sources, with 30 per cent rates. Under the new provisions, ULIPs with annual premiums above ₹2.5 lakhs will be taxed as capital gains instead of income. Long-term capital gains beyond 1 year will be taxed at 12.5 per cent. Other notable provisions The time limit to file an updated return has been extended from 2 years to 4 years. Rules have also been simplified for self-occupied properties. The annual value of a self-occupied property will be considered as nil.

India Budget 2025: Tax relief, TCS, TDS & more

Budget 2025-26, recently tabled in Parliament by Finance Minister Nirmala Sitharaman, spotlights substantial budgetary increases in higher education outlays. With enhanced expenditures under heads such as student financial aid, Digital India e-learning, Centres of Excellence (CoE) in Artificial Intelligence (AI) and a variety of premier central institutions such as the Indian Institutions of Technology (IITs), the Indian Institutes of Information Technology (IIITs), Indian Institutes of Management (IIMs), Indian Institute of Science, Education and Research (IISERs), the budget has prioritised inclusion, autonomy and growth for high-performing institutional models.
With the 2020 National Education Policy&rsquo;s ambitious goal of a 50% gross enrolment ratio (GER) in higher education (defined as the number of students enrolled in higher education out of the total population of 18- 23 years) by 2035, how does the budget help visualise the realisation of the policy objective? According to news reports, a nearly 5% increase in GER was reported from 2014-15 to 2020-21, according to the 2024-25 Economic Survey.&nbsp;
Yet, a key ingredient for meeting these goals lies in a robust cadre of higher education teachers who can demonstrate the interdisciplinarity and cross-disciplinary agility promoted by the National Education Policy 2020. This is the context in which India&rsquo;s ongoing and severe teaching faculty shortages demand fresh thinking and urgent action. A Council of Sustainable Development study estimated that meeting the 2035 GER target requires 3.3 million higher education faculty (with a student: teacher ratio of 15:1), a nearly 2.5-fold increase over the existing cadre of teaching faculty. Where will these new teachers come from?
Over the years, budgetary allocations have indicated efforts to bolster a number of programmes to fill the nearly 38% demand-supply gap in high-quality teaching faculty. &nbsp;These include the National Research Professors scheme, the Pandit Madan Mohan Malviya National Mission on Teachers and Teaching, now Malaviya Mission Teacher Training Programme (MMTTP), the PM Research Fellowship and the Global Initiative for Academic Network (GIAN), among many others. While budget outlays for 2025-26 suggest a renewed emphasis on high-profile centrally-funded institutions of excellence to lead the way, the fact remains that India&rsquo;s top centrally funded institutions are subject to the same shortages of teaching faculty. These shortfalls are the tune of a third or more of all open positions at the 45 central universities, according to MHRD 2022 data and similar proportions at the IITs and IIMs.&nbsp;
<h2>Interestingly, the gaps are far larger, not at entry level but at Associate Professor and Professorial positions (60% of vacancies) in central universities, according to MHRD 2022 data.&nbsp;</h2>
The solution? India needs more significant investment in data-driven initiatives that leverage existing databases, such as the All India Survey of Higher Education (AISHE), with newer sources of data from private universities to better match candidates with positions. The proposed National Education Service suggests one such framework. However, open-source job banks would benefit from integration with the Higher Education Statistics &amp; Public Information System (HESPIS) Scheme to help both hiring institutions and qualified candidates find each other. In the long term, with a decentralised, private-led education system, India needs a strengthened knowledge infrastructure in higher education, much like the United States. The US Department of Higher Education maintains, for example, the ERIC - Education Resources Information Center as a clearinghouse for best practices and the National Center for Education Statistics, which provides the data private and public universities need. &nbsp;Together, the knowledge infrastructure supports a vibrant field of institutional research that supports improved decision-making in higher education.
The institutional innovations of NEP 2020 lie at the heart of the 2025-26 budget provisions. Channelling these monies to meet the looming challenges in India&rsquo;s diverse and complex higher education system remains key.&nbsp;

Business & Economy, data suggests that severe supply bottlenecks in the number and quality of teachers at postsecondary institutions hinder the nation’s goals

Budget 2025-26, recently tabled in Parliament by Finance Minister Nirmala Sitharaman, spotlights substantial budgetary increases in higher education outlays. With enhanced expenditures under heads such as student financial aid, Digital India e-learning, Centres of Excellence (CoE) in Artificial Intelligence (AI) and a variety of premier central institutions such as the Indian Institutions of Technology (IITs), the Indian Institutes of Information Technology (IIITs), Indian Institutes of Management (IIMs), Indian Institute of Science, Education and Research (IISERs), the budget has prioritised inclusion, autonomy and growth for high-performing institutional models. With the 2020 National Education Policy’s ambitious goal of a 50% gross enrolment ratio (GER) in higher education (defined as the number of students enrolled in higher education out of the total population of 18- 23 years) by 2035, how does the budget help visualise the realisation of the policy objective? According to news reports, a nearly 5% increase in GER was reported from 2014-15 to 2020-21, according to the 2024-25 Economic Survey. Yet, a key ingredient for meeting these goals lies in a robust cadre of higher education teachers who can demonstrate the interdisciplinarity and cross-disciplinary agility promoted by the National Education Policy 2020. This is the context in which India’s ongoing and severe teaching faculty shortages demand fresh thinking and urgent action. A Council of Sustainable Development study estimated that meeting the 2035 GER target requires 3.3 million higher education faculty (with a student: teacher ratio of 15:1), a nearly 2.5-fold increase over the existing cadre of teaching faculty. Where will these new teachers come from? Over the years, budgetary allocations have indicated efforts to bolster a number of programmes to fill the nearly 38% demand-supply gap in high-quality teaching faculty. These include the National Research Professors scheme, the Pandit Madan Mohan Malviya National Mission on Teachers and Teaching, now Malaviya Mission Teacher Training Programme (MMTTP), the PM Research Fellowship and the Global Initiative for Academic Network (GIAN), among many others. While budget outlays for 2025-26 suggest a renewed emphasis on high-profile centrally-funded institutions of excellence to lead the way, the fact remains that India’s top centrally funded institutions are subject to the same shortages of teaching faculty. These shortfalls are the tune of a third or more of all open positions at the 45 central universities, according to MHRD 2022 data and similar proportions at the IITs and IIMs. Interestingly, the gaps are far larger, not at entry level but at Associate Professor and Professorial positions (60% of vacancies) in central universities, according to MHRD 2022 data. The solution? India needs more significant investment in data-driven initiatives that leverage existing databases, such as the All India Survey of Higher Education (AISHE), with newer sources of data from private universities to better match candidates with positions. The proposed National Education Service suggests one such framework. However, open-source job banks would benefit from integration with the Higher Education Statistics & Public Information System (HESPIS) Scheme to help both hiring institutions and qualified candidates find each other. In the long term, with a decentralised, private-led education system, India needs a strengthened knowledge infrastructure in higher education, much like the United States. The US Department of Higher Education maintains, for example, the ERIC - Education Resources Information Center as a clearinghouse for best practices and the National Center for Education Statistics, which provides the data private and public universities need. Together, the knowledge infrastructure supports a vibrant field of institutional research that supports improved decision-making in higher education. The institutional innovations of NEP 2020 lie at the heart of the 2025-26 budget provisions. Channelling these monies to meet the looming challenges in India’s diverse and complex higher education system remains key.

Higher Education directions: Budgetary implications for 2025

Trump's pro-crypto stance catapulted cryptos to new highs. Bitcoin led the gains, with the historic $100,000 mark breached days before Trump's inauguration. However, the rally was not immune to Trump's trade tactics. The imposition of tariffs on Canada, Mexico, and China has rattled global markets, including crypto tokens. This comes as investors increasingly ditch riskier assets.
Top tokens, including Bitcoin, Ethereum, Dogecoin, Solana, and XRP, crashed over 30 per cent on Monday. Concerns over growth, earnings and broader macroeconomic consequences have pushed investors to the edge.
<h2>Bitcoin rally stalls</h2>
Bitcoin, the OG cryptocurrency, has suffered the steepest decline after hitting an all-time high of $109,114.88 about a couple of weeks ago. The currency's total market capitalisation has tanked over 11 per cent, testing lows of $91,000 in the last 24 years. Still, Bitcoin was the only token posting a single digital fall.
Other tokens, including Ethereum, plunged over 20 per cent. Even Elon Musk-backed Dogecoin couldn't survive the crypto freefall, with the currency falling over 25 per cent and wiping out one-fourth of its respective value.
The total liquidation in the crypto market hit nearly $2 billion as investors lost confidence in Trump's stance to make crypto a mainstream currency.&nbsp;
Investors are also worried about crypto's future. Reactions from other economies, particularly the UK and BRICS nations, could further shape market volatility. Analysts are betting on Bitcoin hitting $89,000 before it recovers.

Business & Economy, Bitcoin, the OG cryptocurrency, has suffered the steepest decline after hitting an all-time high of $109,114.88 about a couple of weeks ago. 

Trump's pro-crypto stance catapulted cryptos to new highs. Bitcoin led the gains, with the historic $100,000 mark breached days before Trump's inauguration. However, the rally was not immune to Trump's trade tactics. The imposition of tariffs on Canada, Mexico, and China has rattled global markets, including crypto tokens. This comes as investors increasingly ditch riskier assets. Top tokens, including Bitcoin, Ethereum, Dogecoin, Solana, and XRP, crashed over 30 per cent on Monday. Concerns over growth, earnings and broader macroeconomic consequences have pushed investors to the edge. Bitcoin rally stalls Bitcoin, the OG cryptocurrency, has suffered the steepest decline after hitting an all-time high of $109,114.88 about a couple of weeks ago. The currency's total market capitalisation has tanked over 11 per cent, testing lows of $91,000 in the last 24 years. Still, Bitcoin was the only token posting a single digital fall. Other tokens, including Ethereum, plunged over 20 per cent. Even Elon Musk-backed Dogecoin couldn't survive the crypto freefall, with the currency falling over 25 per cent and wiping out one-fourth of its respective value. The total liquidation in the crypto market hit nearly $2 billion as investors lost confidence in Trump's stance to make crypto a mainstream currency. Investors are also worried about crypto's future. Reactions from other economies, particularly the UK and BRICS nations, could further shape market volatility. Analysts are betting on Bitcoin hitting $89,000 before it recovers.

Trump tariffs hit crypto rally: digital tokens tank up to 28%

India is reconsidering its position on cryptocurrencies, said a report by Reuters quoting a senior government official.
The review comes amid policy adjustments in nations like the United States, where former President Donald Trump recently announced initiatives to regulate and incorporate digital assets.
India&rsquo;s Economic Affairs Secretary Ajay Seth said that evolving global perspectives on cryptocurrency usage and its role in financial systems have pushed the government to revisit its approach to the digital assets.&nbsp;
Also read: <a href="https://www.wionews.com/business-economy/16-years-of-bitcoin-why-the-battle-for-mining-just-got-harder-8589668">16 years of Bitcoin: Why the battle for mining just got harder</a>
"More than one or two jurisdictions have changed their stance towards cryptocurrency in terms of usage, acceptance, and importance. In that stride, we are having a look at the discussion paper once again," Seth added.
As a result, India&rsquo;s long-awaited discussion paper on cryptocurrency, initially expected in September 2024 may face further delays. The document is supposed to outline regulatory measures for the digital assets.
&nbsp;
Seth also said that given the cross-border nature of cryptocurrencies, India&rsquo;s approach cannot be unilateral. While he did not specifically refer to the US, Trump&rsquo;s recent executive order establishing a working group on cryptocurrency regulations and a national digital asset stockpile has drawn attention.
Despite India's strict regulations and high tax rates on cryptocurrency transactions, digital assets have gained popularity among investors in the country.&nbsp;
Also read: <a href="https://www.wionews.com/business-economy/is-bitcoin-going-to-crash-technical-analyst-predicts-upto-22-downside-in-q1-2025-8590466">Is Bitcoin going to crash? Technical analyst predicts upto 22% downside in Q1, 2025</a>
The Financial Intelligence Unit (FIU) has been actively monitoring offshore exchanges for compliance with local laws. In December 2023, the FIU issued show-cause notices to nine offshore exchanges, citing regulatory violations. Binance, the world&rsquo;s largest cryptocurrency exchange, was fined Rs 188.2 million ($2.25 million) in June 2024, a month after registering with the FIU to resume operations in India.
India&rsquo;s regulatory landscape on cryptocurrency remains divided. In 2023, the Securities and Exchange Board of India (SEBI) suggested a multi-regulator framework to oversee crypto transactions. However, the Reserve Bank of India (RBI) continues to caution against private digital currencies due to macroeconomic risks.&nbsp;

India’s Economic Affairs Secretary Ajay Seth said that evolving global perspectives on cryptocurrency usage and its role in financial systems have pushed the government to revisit its approach to the digital assets. 

India is reconsidering its position on cryptocurrencies, said a report by Reuters quoting a senior government official. The review comes amid policy adjustments in nations like the United States, where former President Donald Trump recently announced initiatives to regulate and incorporate digital assets. India’s Economic Affairs Secretary Ajay Seth said that evolving global perspectives on cryptocurrency usage and its role in financial systems have pushed the government to revisit its approach to the digital assets. Also read: 16 years of Bitcoin: Why the battle for mining just got harder "More than one or two jurisdictions have changed their stance towards cryptocurrency in terms of usage, acceptance, and importance. In that stride, we are having a look at the discussion paper once again," Seth added. As a result, India’s long-awaited discussion paper on cryptocurrency, initially expected in September 2024 may face further delays. The document is supposed to outline regulatory measures for the digital assets. Seth also said that given the cross-border nature of cryptocurrencies, India’s approach cannot be unilateral. While he did not specifically refer to the US, Trump’s recent executive order establishing a working group on cryptocurrency regulations and a national digital asset stockpile has drawn attention. Despite India's strict regulations and high tax rates on cryptocurrency transactions, digital assets have gained popularity among investors in the country. Also read: Is Bitcoin going to crash? Technical analyst predicts upto 22% downside in Q1, 2025 The Financial Intelligence Unit (FIU) has been actively monitoring offshore exchanges for compliance with local laws. In December 2023, the FIU issued show-cause notices to nine offshore exchanges, citing regulatory violations. Binance, the world’s largest cryptocurrency exchange, was fined Rs 188.2 million ($2.25 million) in June 2024, a month after registering with the FIU to resume operations in India. India’s regulatory landscape on cryptocurrency remains divided. In 2023, the Securities and Exchange Board of India (SEBI) suggested a multi-regulator framework to oversee crypto transactions. However, the Reserve Bank of India (RBI) continues to caution against private digital currencies due to macroeconomic risks.

India to reconsider crypto policy following global regulatory shifts: Report

The Union Budget 2025-26 continues to offer taxpayers the choice between the old and new tax regimes, each with distinct benefits. Finance Minister Nirmala Sitharaman reaffirmed the government&rsquo;s push toward the new tax regime while retaining the old one for those who benefit from deductions and exemptions. The old tax regime is based upon a progressive slab structure with tax rates ranging from 5 per cent to 30 per cent, depending on income levels.&nbsp; It is beneficial for taxpayers who want to claim various deductions under Section 80C (PPF, ELSS, EPF, life insurance), Section 80D (health insurance), and HRA for salaried individuals. These deductions help in reducing taxable income, making the old regime suitable for those who actively invest in tax-saving instruments.
Also read: <a href="https://www.wionews.com/india-news/union-budget-2025-indian-fms-focus-on-bihar-sparks-meme-fest-online-nitish-kumar-narendra-modi-8681960">Union Budget 2025: Nirmala Sitharaman's focus on Bihar sparks meme fest online</a><a href="https://www.wionews.com/videos/india-successfully-tests-vshorads-missile-indian-defence-minister-congratulates-drdo-armed-forces-8683139"></a> The new tax regime, introduced in Budget 2020 and revised in Budget 2023, provides lower tax rates but removes most exemptions and deductions. However, it includes benefits such as a full tax rebate for individuals earning up to Rs 7 lakh under Section 87A. Additionally, a zero-tax liability now applies to those earning up to Rs 12 lakh, if they utilise standard deductions and the rebate effectively.&nbsp; This is because under the revised structure, individuals earning up to Rs 7 lakh do not pay tax, and those earning up to Rs 12 lakh can benefit from deductions like the Rs 50,000 standard deduction, further reducing their taxable income.

The new tax regime, introduced in Budget 2020 and revised in Budget 2023, provides lower tax rates but removes most exemptions and deductions.

The Union Budget 2025-26 continues to offer taxpayers the choice between the old and new tax regimes, each with distinct benefits. Finance Minister Nirmala Sitharaman reaffirmed the government’s push toward the new tax regime while retaining the old one for those who benefit from deductions and exemptions. The old tax regime is based upon a progressive slab structure with tax rates ranging from 5 per cent to 30 per cent, depending on income levels. It is beneficial for taxpayers who want to claim various deductions under Section 80C (PPF, ELSS, EPF, life insurance), Section 80D (health insurance), and HRA for salaried individuals. These deductions help in reducing taxable income, making the old regime suitable for those who actively invest in tax-saving instruments. Also read: Union Budget 2025: Nirmala Sitharaman's focus on Bihar sparks meme fest online The new tax regime, introduced in Budget 2020 and revised in Budget 2023, provides lower tax rates but removes most exemptions and deductions. However, it includes benefits such as a full tax rebate for individuals earning up to Rs 7 lakh under Section 87A. Additionally, a zero-tax liability now applies to those earning up to Rs 12 lakh, if they utilise standard deductions and the rebate effectively. This is because under the revised structure, individuals earning up to Rs 7 lakh do not pay tax, and those earning up to Rs 12 lakh can benefit from deductions like the Rs 50,000 standard deduction, further reducing their taxable income.

Union Budget 2025: Key differences between new and old tax slabs

Finance Minister Nirmala Sitharaman presented the second Budget of Prime Minister Narendra Modi's third term on Saturday (Feb 1). This Budget outlines key financial policies for the 2025-26 fiscal year.
The first phase of Parliament&rsquo;s Budget session commenced on 31st January and is scheduled to conclude on 13th February 2025. The second phase will run from 10th March to 4th April 2025.
<a href="https://www.wionews.com/business-economy/implications-of-the-union-budget-2025-26-on-indias-sustainable-development-8682018" rel="dofollow noopener" target="_blank">Also read: Implications of the union budget 2025-26 on India&rsquo;s sustainable development</a>
Here are the key takeaways from the Union Budget for the financial year 2025-26: 
<h2>Significant tax reductions and increased disposable income</h2>
Middle-class taxpayers had expressed concerns over excessive taxes. Addressing these concerns, the Finance Minister introduced significant income tax reductions, raising the tax rebate threshold&nbsp;from an annual income of ₹7 lakh to ₹12 lakh.
The FM clarified: &ldquo;To taxpayers with normal income up to ₹12 lakh (excluding special rate income such as capital gains), a tax rebate is being provided in addition to the slab rate reduction, ensuring no tax liability for them.&rdquo;
The revised structure includes a nil tax rate for income up to ₹4 lakh, a 10% tax on earnings between ₹8-12 lakh, and a 15% tax on income between ₹12-16 lakh.&nbsp;
<a href="https://www.wionews.com/business-economy/simplified-kyc-process-coming-in-2025-with-new-central-registry-8681980" rel="dofollow noopener" target="_blank">Also read: Budget 2025: Simplified KYC process coming in 2025 with new central registry</a>
Additionally, adjustments to tax slabs mean the highest tax rate of 30% will now only apply to individuals earning ₹24 lakh per annum or more. 
<h2>Additional benefits for senior citizens and renters</h2>
The tax deduction limit for senior citizens has been doubled from ₹50,000 to ₹1 lakh. The annual TDS limit on rental income has been raised from ₹2.40 lakh to ₹6 lakh.
Also read: <a href="https://www.wionews.com/business-economy/budget-2025-no-tax-up-to-rs-12-lakh-focus-on-stability-and-long-term-growth-8681961">Budget 2025: No tax up to Rs 12 lakh, focus on stability and long-term growth</a>
<h2>Capital expenditure and job creation</h2>
The budget estimates for capital expenditure (capex) in 2025-26 stand at ₹11.21 lakh crore, a slight increase from ₹11.11 lakh crore in the previous fiscal year. A significant shift in focus has been towards employment generation.
In response to criticisms regarding previous policies prioritising capital-intensive industries over job creation, the Budget introduces steps to stimulate employment in sectors such as textiles and leather, which traditionally generate higher employment for similar levels of GDP contribution. The Modi government has set a target of creating 22 lakh jobs through a dedicated employment scheme. 
<h2>UDAN: Expansion of regional air connectivity</h2>
The &lsquo;UDAN&rsquo; scheme has been revised to enhance regional air connectivity. Under the modified programme, 120 new destinations will be linked, aiming to transport four crore passengers over the next decade. The initiative will also support helipads and smaller airports in hilly and underdeveloped regions, including the North East.
<a href="https://www.wionews.com/india-news/eight-outgoing-aap-mlas-join-bjp-four-days-ahead-of-delhi-assembly-election-8681845" rel="dofollow noopener" target="_blank">Also read: Eight MLAs who 'quit' AAP join BJP four days ahead of Delhi Assembly election</a>
<h2>Development of Bihar&rsquo;s makhana industry and airports</h2>
To boost Bihar&rsquo;s Makhana industry, the government announced the establishment of a dedicated Makhana Board. This body will focus on enhancing production, processing, value addition, and marketing of the crop.
Additionally, it announced the development of greenfield airports in Bihar to accommodate future demand. These projects will add to the expansion of Patna Airport and the development of a brownfield airport at Bihta.
<h2>Promotion of tourism</h2>
The government has outlined plans to develop 50 top tourist destinations in collaboration with state governments. These sites will be selected through a competitive process to ensure high-quality infrastructure and tourism potential.
<h2>Boosting self-reliance in pulses</h2>
To enhance self-sufficiency in pulse production, the government has launched a six-year initiative focusing on tur, urad, and masoor. This programme prioritises the development of climate-resilient seeds, increased protein content, and enhanced productivity.
<h2>Support for first-time entrepreneurs</h2>
A new initiative will be introduced to assist five lakh first-time entrepreneurs, including women and individuals from Scheduled Castes and Scheduled Tribes. Under this scheme, term loans of up to ₹2 crore will be available over the next five years.
<h2>Increase in medical college seats</h2>
An additional 10,000 medical seats will be introduced in colleges and hospitals within the next year, contributing towards a larger goal of 75,000 new seats over the next five years.
(With inputs from agencies)

Business & Economy India News: Finance Minister Nirmala Sitharaman presented her eighth consecutive budget on Saturday (Feb 1). Here are the key takeaways from the Union Budget for the financial year 2025-26.

Finance Minister Nirmala Sitharaman presented the second Budget of Prime Minister Narendra Modi's third term on Saturday (Feb 1). This Budget outlines key financial policies for the 2025-26 fiscal year. The first phase of Parliament’s Budget session commenced on 31st January and is scheduled to conclude on 13th February 2025. The second phase will run from 10th March to 4th April 2025. Also read: Implications of the union budget 2025-26 on India’s sustainable development Here are the key takeaways from the Union Budget for the financial year 2025-26: Significant tax reductions and increased disposable income Middle-class taxpayers had expressed concerns over excessive taxes. Addressing these concerns, the Finance Minister introduced significant income tax reductions, raising the tax rebate threshold from an annual income of ₹7 lakh to ₹12 lakh. The FM clarified: “To taxpayers with normal income up to ₹12 lakh (excluding special rate income such as capital gains), a tax rebate is being provided in addition to the slab rate reduction, ensuring no tax liability for them.” The revised structure includes a nil tax rate for income up to ₹4 lakh, a 10% tax on earnings between ₹8-12 lakh, and a 15% tax on income between ₹12-16 lakh. Also read: Budget 2025: Simplified KYC process coming in 2025 with new central registry Additionally, adjustments to tax slabs mean the highest tax rate of 30% will now only apply to individuals earning ₹24 lakh per annum or more. Additional benefits for senior citizens and renters The tax deduction limit for senior citizens has been doubled from ₹50,000 to ₹1 lakh. The annual TDS limit on rental income has been raised from ₹2.40 lakh to ₹6 lakh. Also read: Budget 2025: No tax up to Rs 12 lakh, focus on stability and long-term growth Capital expenditure and job creation The budget estimates for capital expenditure (capex) in 2025-26 stand at ₹11.21 lakh crore, a slight increase from ₹11.11 lakh crore in the previous fiscal year. A significant shift in focus has been towards employment generation. In response to criticisms regarding previous policies prioritising capital-intensive industries over job creation, the Budget introduces steps to stimulate employment in sectors such as textiles and leather, which traditionally generate higher employment for similar levels of GDP contribution. The Modi government has set a target of creating 22 lakh jobs through a dedicated employment scheme. UDAN: Expansion of regional air connectivity The ‘UDAN’ scheme has been revised to enhance regional air connectivity. Under the modified programme, 120 new destinations will be linked, aiming to transport four crore passengers over the next decade. The initiative will also support helipads and smaller airports in hilly and underdeveloped regions, including the North East. Also read: Eight MLAs who 'quit' AAP join BJP four days ahead of Delhi Assembly election Development of Bihar’s makhana industry and airports To boost Bihar’s Makhana industry, the government announced the establishment of a dedicated Makhana Board. This body will focus on enhancing production, processing, value addition, and marketing of the crop. Additionally, it announced the development of greenfield airports in Bihar to accommodate future demand. These projects will add to the expansion of Patna Airport and the development of a brownfield airport at Bihta. Promotion of tourism The government has outlined plans to develop 50 top tourist destinations in collaboration with state governments. These sites will be selected through a competitive process to ensure high-quality infrastructure and tourism potential. Boosting self-reliance in pulses To enhance self-sufficiency in pulse production, the government has launched a six-year initiative focusing on tur, urad, and masoor. This programme prioritises the development of climate-resilient seeds, increased protein content, and enhanced productivity. Support for first-time entrepreneurs A new initiative will be introduced to assist five lakh first-time entrepreneurs, including women and individuals from Scheduled Castes and Scheduled Tribes. Under this scheme, term loans of up to ₹2 crore will be available over the next five years. Increase in medical college seats An additional 10,000 medical seats will be introduced in colleges and hospitals within the next year, contributing towards a larger goal of 75,000 new seats over the next five years. (With inputs from agencies)

Union Budget 2025: From major tax cuts to job creation push | 9 key takeaways

Business & Economy, this year’s budget aims to create a conducive environment for India to become a manufacturing hub for electric vehicles, driving both innovation & job creation

India’s tax-payer friendly budget has signalled a boost to its ongoing efforts towards cleaner energy and transport systems. The Budget 2025 has introduced several measures to support domestic clean technology manufacturing, expand credit access, and enhance climate resilience in agriculture. A notable provision is the expansion of the credit guarantee scheme, which is expected to unlock ₹1.5 lakh crore in additional credit over the next five years for MSMEs, startups, and exporters. This support is aimed at strengthening industries including clean technology and renewable energy. The budget also prioritises boosting domestic manufacturing in key clean energy areas. It focuses on increasing capacity in sectors such as solar PV cells, EV batteries, motors and controllers, electrolysers, wind turbines, high-voltage transmission equipment, and grid-scale energy storage. To further support local production, basic customs duties have been removed on cobalt powder, lithium-ion battery scrap, lead, zinc, and 12 additional critical minerals—a follow-up to the July 2024 policy that exempted 25 key minerals from import duties. This measure is expected to lower input costs, secure raw material supply chains, and promote job creation in renewable energy and electric mobility sectors. It also has the potential to spur investments in domestic manufacturing and promote sustainable mobility in India. The EV industry, which was looking forward to a favourable tax structure that caters to different automotive technologies, did not find a mention in the Union Budget. In the agricultural sector, the budget has announced the National Mission on High Yielding Seeds. This mission will focus on enhancing research, developing pest-resistant and climate-resilient crops, and ensuring the commercial availability of over 100 improved seed varieties released since July 2024. Alongside this, the Kisan Credit Card (KCC) loan limit has been increased from ₹3 lakh to ₹5 lakh, providing greater financial flexibility for around 7.7 crore rural entrepreneurs to invest in agricultural productivity and rural livelihoods. This has the potential to boost credit availability for climate-friendly agricultural practices. Finally, the budget announcement about renewed support for nuclear energy with the introduction of a ₹20,000 crore Nuclear Energy Mission aimed at developing Small Modular Reactors (SMRs), signals India’s focus on cutting emissions in energy production. The initiative targets the operationalisation of at least five indigenously developed SMRs by 2033, positioning nuclear energy as a secure, low-carbon option to support long-term energy security and sustainability. Overall, this year’s budget aims to create a conducive environment for India to become a manufacturing hub for electric vehicles, driving both innovation and job creation in the process. On adaptation The Prime Minister Dhan-Dhaanya Krishi Yojana that targets 100 districts with low productivity by boosting agricultural output, promoting crop diversification, and enhancing post-harvest storage and irrigation, can add immensely to India’s climate adaptation efforts. Modernising agriculture and diversifying rural income sources alongside improved credit access for farmers, can reduce the risks of climate variability while increasing productivity. The six-year Mission for Aatmanirbharta in Pulses reinforces this approach by seeking to leverage past successes in food security and sustainable practices. The reforms can be complemented by the Rural Prosperity and Resilience programme that seeks to to generate diverse employment opportunities in rural India, according to the minister. Focus on under-employed groups—including rural women, young farmers, and landless families—and incorporating global best practices and multilateral support, can help improve long-standing economic vulnerabilities, making more resources available to climate-hit communities. Also, the Urban Challenge Fund announced in the budget that seeks to allocate up to 1 lakh crore rupees to modernise urban infrastructure and boost climate adaptation in Indian cities seeks to support projects under initiatives such as ‘Cities as Growth Hubs’, ‘Creative Redevelopment of Cities’, and improved ‘Water and Sanitation.’ The fund can help enhance the capacity of urban areas to adapt to extreme weather, mitigate urban heat islands, and manage water resources more effectively. With a financing model covering up to 25% of project costs—requiring at least 50% funding from bonds, bank loans, and PPPs—and an initial allocation of ₹10,000 crore for 2025-26, the initiative is designed to drive resilient urban growth while integrating adaptation measures into the redevelopment process. Budget Estimate Comparison 2024-25 and 2025-26 2025-26 2024-25 Budget Estimates (In Rs crores) Budget Estimates (In Rs crores) Revised Estimates (In Rs crores) Min of Heavy Industries 7680.23 7242 4560.63 Min of New & Renewable Energy 26549.38 19100 17298.44 Min of Environment, Forests and Climate Change 3412.82 3330.37 3125.96 Min of Power 21847 20502 19845 Min of Coal 501.20 192.55 141.21 Min of Housing and Urban Affairs 96777 82576.57 63699.93 Min of Petroleum and Natural Gas 19326.90 15930.26 17367.70 Expert Quotes: On Clean Transition Shruti Sharma, Lead Energy Program, International Institute for Sustainable Development “India’s Union Budget takes a critical step forward by incentivizing electricity distribution reforms and enhancing intra‐state transmission capacity, which will undoubtedly improve the financial health of our DISCOMs—the linchpin of the renewable energy transition. However, while measures like the Revamped Distribution Sector Scheme have already helped trim subsidies by about 3%, we must urgently address the elephant in the room: consumption subsidies, which now represent over 93% of total energy subsidies. If left unchecked, these subsidies will only escalate as electrification spreads across all sectors, potentially undermining the very reforms designed to make our energy system more efficient and resilient. Unchecked, consumption subsidies are like a tinderbox waiting to ignite, threatening to undo hard-won reform gains as electrification accelerates. Missing from the budget was any mention of PM-KUSUM—a beacon for transforming agriculture that now goes largely unnoticed. With farmers collectively pocketing nearly 75% of all electricity subsidies, solar irrigation isn't just a green initiative; it's the lƒer that could shift demand to daylight hours and power our renewable future. Earlier last year, the scheme received an extension till 2026 - that is a positive step, but without a clear political push in the budget, the signal to states and private developers remains dim, leaving a golden opportunity unlit." “This year's budget has re-ignited the call for clean-tech manufacturing—setting the stage for a transformative revolution in our domestic production of solar PV cells, EV batteries, motors, electrolyzers, wind turbines, and more. Hopefully, this isn't just policy talk; and is a rallying cry that echoes through the corridors of industry, energizing private investment as seen in the early successes of the PLI schemes for high-efficiency solar modules, advanced batteries, and green hydrogen. The budget's focus on these initiatives, through the Make in India mission, lights the path for India to emerge as a powerhouse in clean energy technologies.” Rishbah Jain, Senior Programme Lead, Council for Energy Environment & Water “The union budget has rightfully focussed on doubling down on making domestic manufacturing and exports competitive, which would create new jobs, economic growth, and a stable energy transition. Currently, for many clean energy equipment manufacturers, it is increasingly becoming difficult to compete with Chinese giants on artificial selling costs and overcapacities. CEEW analysis suggests that with backward and forward integration, India has potential competitiveness in many clean energy components such as battery anodes, solar wafers, silver paste, wind turbine gearbox, etc. However, lack of minerals and technological capabilities to process them, import reliance for manufacturing equipment, limited skilled workforce and trade barriers are often limiting factors. The new initiatives such as the National Manufacturing Mission, Export Promotion Mission, Bharat Trade Net and the National Centres of Excellence for Skilling are welcome initiatives, but these need to be followed up through inter-ministerial actions and close collaborations between the state and central governments. Further, with rapidly changing technology, the industries need to also invest in R&D and can potentially tap the talent from the PM Researcher Fellowship.” Labanya Jena, Sustainable Finance Specialist “India’s push for nuclear energy is bold, but with high capex and tail risks, the key challenge remains—who will fund it, and who will bear the risks? India’s ₹10,000 crore Fund of Funds can be a game-changer, but earmarking a portion for climate solutions for clean technologies in India will support the country’s climate action solutions. India can also be a climate tech hub. The National Manufacturing Mission’s focus on clean tech is a step in the right direction. However, the real question is: Can India’s green industry compete with China, where there are massive subsidies for green industries? “Enhancing credit access for MSMEs is crucial but directing it towards energy efficiency and rooftop solar will reduce costs and align India’s small businesses with its climate ambitions. “The Urban Challenge Fund must prioritise pollution control and climate adaptation—without it, our cities risk becoming economic hubs struggling with environmental distress.” Aarti Khosla, Director, Climate Trends "The Union Budget presents an ambitious framework to boost its transition economy. With the announcement of the National Manufacturing Mission at its core, the document provides a vision to plug India’s supply chain vulnerabilities by further boosting the ‘Make In India’ vision in the current geopolitical context. Solar energy gets the highest allocation of Rs 24224 crore, with a clear focus on rooftop solar with the PM Surya Ghar Yojana. The announcement for a Nuclear Mission with the aim for 100 GW of non-fossil based energy by 2047 is a clear indication that the government is looking at options to decrease its baseload reliance on coal. However, the issues of safety associated with nuclear energy still loom large. Just 10 days before the deadline for submission of revised NDCs to the UNFCCC, India has shown its intent for climate action very clearly." Karthik Ganesan, Fellow & Director - Strategic Partnerships, Council for Energy Environment & Water "This budget provides a shot in the arm for a sector that has not received consistent funding , despite being one of the older nuclear programmes in the world. The R&D efforts needed for an indigenous modular reactor are significant and the 2033 timeline for 5 reactors would put it as one of the fastest to market. International collaboration to accelerate the development and learn from what other countries have done would also be a welcome step. " On Sustainable Transport Mahua Acharya, Founder CEO, INTENT and former MD & CEO, Convergence Energy Services Limited, Govt of India “The specific focus on Budget 2025 on clean tech manufacturing is obviously a welcome step. We must do all we can to produce in India - and to that extent, the recognition of the need for batteries and raw materials is a really welcome step! The manufacturing mission is an excellent move - and the recognition of the need for grid scale batteries, EV batteries, PV cells is spot on as India looks to transition rapidly into greener growth.” Randheer Singh, CEO, ForeSee Advisor & Former director E-Mobility, NITI Aayog “The Union Budget 2025 signals a strong commitment to India’s clean mobility and energy transition. The focus on expanding the EV ecosystem, strengthening domestic battery manufacturing, and supporting startups and alternative investment funds (AIFs) is a welcome step toward sustainability and self-reliance. The emphasis on lithium-ion and alternative battery chemistries, along with measures to enhance green financing, will be instrumental in accelerating EV adoption and energy storage solutions. However, while the budget lays a solid foundation, certain areas warrant further attention. A more comprehensive roadmap for commercial megawatt level charging infrastructure, incentives for fleet electrification, and clarity on execution frameworks will be critical to ensuring effective implementation. Additionally, broader environmental sustainability measures, such as targeted pollution reduction strategies in urban areas and deeper interventions for river rejuvenation, remain areas where more focused initiatives could have further strengthened the vision for a cleaner and greener India. Similarly, as the economy continues its growth trajectory, proactive measures to address food price inflation and ensure supply chain resilience will be key to maintaining economic stability. While this budget provides a strong directional push, the industry now looks forward to further policy refinements and execution strategies that will drive long-term impact.” Prashant Rathee, Founder, The Energy Company “While the U.S. is rolling back its EV mandates, India is taking a forward-looking approach by strengthening its battery ecosystem. The exemption of basic customs duty on capital goods for cell manufacturing paves the way for domestic sourcing, reducing dependence on imports. For Battery and Vehicle OEMs, this will lower working capital needs, improve supply chain stability, and enable closer R&D collaboration for optimized battery packs in future. A stronger local battery ecosystem ensures India stays ahead in clean energy innovation, making energy storage more affordable, scalable, and competitive.” On Adaptation Prof Sachchida Nand Tripathi, Dean, Kotak School of Sustainability, IIT Kanpur “The Union Budget 2025-26 has the theme of clean transition and sustainability embedded in it The focus on clean-tech manufacturing, investments in PM Surya Ghar yojana, exempting the Basic Custom Duty on critical minerals and impetus on sustainable transport are signals that India is investing in a climate-friendly economy. However, focussed initiatives to target air pollution, river rejuvenation for water security and adaptation measures beyond agriculture would have further strengthened India’s vision for a cleaner greener future.” Abinash Mohanty, Global Sector-Head Climate Change and Sustainability, IPE-Global “The Union Budget 2025 marks a significant step in India's journey towards energy transition and net-zero goals. With a strong focus on the Atmanirbhar Mission, the budget underscores our nation’s commitment to clean energy, economic resilience, and sustainability. The much-anticipated push for nuclear power and cleaner energy alternatives sends a clear message—India is strengthening its position as a global thought leader in low-carbon development. Through a walk-the-talk green growth and green transition budget speech that tries to climate-proof the trinity of jobs, growth, and sustainability misses patenting the invaluable grains of climate adaptation. Yet, while the budget increases the allocation for the Ministry of Environment, Forest, and Climate Change (MoEFCC), we must recognize a crucial gap—the lack of a robust climate adaptation strategy -- which is a subtle miss in the budget speech. Social protection policies, particularly those aimed at vulnerable communities, must have been fortified to withstand climate shocks through an ear-marked budgetary allocation. Climate Adaptation is not an option—it is an imperative. The world is facing unprecedented geopolitical pushback on the climate agenda, and India should have ensured that its fiscal policies reflect this reality through an enhanced budgetary allocation.” On Jal Jeevan Mission Nitin Bassi, Senior Programme Lead, Council for Energy Environment & Water “The extension of Jal Jeevan Mission to 2028 is a big step to ensure the safety of domestic water supply services in rural India, which will also help cover the remaining 20% of the rural households (about 3.9 crores) with tap connections. CEEW research highlights, there is a need to ensure the reliability and potability of water supply as well, in addition to creating infrastructure. This extension will work towards that by focusing on the quality of water supply infrastructure, and efficient operations and maintenance through community participation. Additionally, there should be a focus on ensuring the quality of supplied water and strengthening the data monitoring infrastructure.” On Agriculture Devinder Sharma, Agriculture Trade Policy Expert “The government has kept agriculture as one of the top priorities, but this has been the case for the last eight years. However, the government has not talked about farmers’ income or agriculture income, which should be the prime concern. Without considering this, just keeping it as a top priority wouldn’t make any difference because if farmers do not have a stable income, they will not be able to deal with the challenges posed by climate change. There will be no capacity to deal with extreme weather events. I believe that we need to work on this and the same should have been included in the budget which is missing.” On Sustainable Cities Prof Anjal Prakash, Clinical Associate Professor (Research) and Research Director, Bharti Institute of Public Policy. Prof Prakash has just been nominated as lead author of IPCC AR7’s upcoming report on Cities and Climate Change. "The Economic Survey 2025 highlights the commitment to fostering sustainable urban growth through strategic infrastructure development. The government’s initiatives, including the expansion of metro rail networks and the transformative effects of the Swachh Bharat Abhiyan, illustrate significant advancements in urban mobility and sanitation. With projects like the Pradhan Mantri Awas Yojana - Urban aimed at providing housing for millions and the Smart Cities Mission, the focus is on creating liveable, connected, and environmentally friendly urban spaces. The integration of vertical gardens, exemplified in various initiatives, underscores the importance of innovative, eco-conscious practices that enhance urban aesthetics and improve air quality. These efforts ensure that India is not only building infrastructure but also investing in the well-being of its citizens, paving the way for a resilient and sustainable urban future."

Implications of the union budget 2025-26 on India’s sustainable development

Finance minister Nirmala Sitharaman presented the Union Budget for 2025-26, initiating transformative reforms across six key sectors to bolster growth potential over the next five years. One of the pivotal areas outlined in the budget is the financial sector, which includes insurance, pensions, Bilateral Investment Treaties (BIT), and other related areas.&nbsp;
The Budget 2025 brings big relief for the middle class with a revised tax structure, ensuring a more progressive and inclusive taxation system. Income up to ₹12 lakh now enjoys significantly lower tax rates, reducing the financial burden on salaried individuals and small business owners. &nbsp;
<h2>FDI in Insurance sector&nbsp;</h2>
A significant reform announced in the budget concerns the foreign direct investment (FDI) limit in the insurance sector. The Finance Minister revealed that the FDI cap would be raised from 74% to 100%. This change will be applicable to companies that commit to investing the entire premium in India. &nbsp;
Additionally, the government will review and simplify the current guidelines and conditionalities associated with foreign investment in the insurance sector. The move is expected to encourage greater foreign participation, foster innovation, and improve the overall efficiency of the insurance industry, making it more competitive on a global scale.&nbsp;
<h2>Pension sector&nbsp;</h2>
Another noteworthy announcement pertains to the pension sector. In a bid to foster growth and development within this space, a forum for regulatory coordination will be set up. This forum will also focus on the creation and development of new pension products. The government's emphasis on this area underscores its commitment to enhancing financial security for citizens and creating a robust pension ecosystem in the country. It is expected that these reforms will attract more investments and provide better options for individuals to plan for their retirement.&nbsp;
<h2>KYC simplification&nbsp;</h2>
The government is also taking significant steps to simplify the Know Your Customer (KYC) process, a key requirement for various financial transactions. As part of the broader digital transformation agenda, a revamped Central KYC Registry will be rolled out in 2025. This updated system will make it easier for individuals and institutions to manage their KYC data, thus streamlining the process for both customers and businesses. &nbsp;
Additionally, a more efficient mechanism for periodic KYC updates will be implemented. These changes are aimed at improving customer experience while ensuring compliance with regulatory standards.&nbsp;
<h2>Merger of companies&nbsp;</h2>
Another area where the Union Budget proposes reforms is the process for company mergers. The Finance Minister announced that the procedures for obtaining approvals for mergers will be rationalised. This includes simplifying the process and widening the scope for fast-track mergers. The aim is to make mergers and acquisitions (M&amp;A) more efficient and less time-consuming, which could, in turn, promote greater consolidation in various sectors and encourage business growth.&nbsp;
<h2>Bilateral investment treaties&nbsp;</h2>
In the spirit of fostering sustained foreign investment, the government is revising its approach to Bilateral Investment Treaties (BIT). The current model BIT will be revamped to make it more investor-friendly, encouraging greater international participation in the Indian market. This move aligns with the broader vision of making India an attractive investment destination and facilitating economic growth through increased foreign inflows. &nbsp;
The Union Budget 2025-26 presents a comprehensive set of reforms aimed at transforming India&rsquo;s financial sector. These changes, particularly in the insurance, pension, and FDI sectors, are designed to create a more competitive, efficient and investor-friendly environment. &nbsp;

Business & Economy, One of the pivotal areas outlined in the budget is the financial sector, which includes insurance, pensions, Bilateral Investment Treaties (BIT)

Finance minister Nirmala Sitharaman presented the Union Budget for 2025-26, initiating transformative reforms across six key sectors to bolster growth potential over the next five years. One of the pivotal areas outlined in the budget is the financial sector, which includes insurance, pensions, Bilateral Investment Treaties (BIT), and other related areas. The Budget 2025 brings big relief for the middle class with a revised tax structure, ensuring a more progressive and inclusive taxation system. Income up to ₹12 lakh now enjoys significantly lower tax rates, reducing the financial burden on salaried individuals and small business owners. FDI in Insurance sector A significant reform announced in the budget concerns the foreign direct investment (FDI) limit in the insurance sector. The Finance Minister revealed that the FDI cap would be raised from 74% to 100%. This change will be applicable to companies that commit to investing the entire premium in India. Additionally, the government will review and simplify the current guidelines and conditionalities associated with foreign investment in the insurance sector. The move is expected to encourage greater foreign participation, foster innovation, and improve the overall efficiency of the insurance industry, making it more competitive on a global scale. Pension sector Another noteworthy announcement pertains to the pension sector. In a bid to foster growth and development within this space, a forum for regulatory coordination will be set up. This forum will also focus on the creation and development of new pension products. The government's emphasis on this area underscores its commitment to enhancing financial security for citizens and creating a robust pension ecosystem in the country. It is expected that these reforms will attract more investments and provide better options for individuals to plan for their retirement. KYC simplification The government is also taking significant steps to simplify the Know Your Customer (KYC) process, a key requirement for various financial transactions. As part of the broader digital transformation agenda, a revamped Central KYC Registry will be rolled out in 2025. This updated system will make it easier for individuals and institutions to manage their KYC data, thus streamlining the process for both customers and businesses. Additionally, a more efficient mechanism for periodic KYC updates will be implemented. These changes are aimed at improving customer experience while ensuring compliance with regulatory standards. Merger of companies Another area where the Union Budget proposes reforms is the process for company mergers. The Finance Minister announced that the procedures for obtaining approvals for mergers will be rationalised. This includes simplifying the process and widening the scope for fast-track mergers. The aim is to make mergers and acquisitions (M&A) more efficient and less time-consuming, which could, in turn, promote greater consolidation in various sectors and encourage business growth. Bilateral investment treaties In the spirit of fostering sustained foreign investment, the government is revising its approach to Bilateral Investment Treaties (BIT). The current model BIT will be revamped to make it more investor-friendly, encouraging greater international participation in the Indian market. This move aligns with the broader vision of making India an attractive investment destination and facilitating economic growth through increased foreign inflows. The Union Budget 2025-26 presents a comprehensive set of reforms aimed at transforming India’s financial sector. These changes, particularly in the insurance, pension, and FDI sectors, are designed to create a more competitive, efficient and investor-friendly environment.

Budget 2025: Simplified KYC process coming in 2025 with new central registry

Finance Minister Nirmala Sitharaman has placed the middle class at the centre of Budget 2025, offering a significant tax relief that will ease financial burdens on millions of taxpayers. &nbsp;
The highlight of this year&rsquo;s budget is zero income tax for earnings up to ₹12 lakh. For salaried individuals, the exemption limit extends to ₹12.75 lakh, factoring in the ₹75,000 standard deduction. This announcement is expected to boost disposable income, encourage spending, and provide much-needed financial relief.
<img class="WACImage SCXW118161244 BCX8" unselectable="on" src="https://img-cdn.thepublive.com/fit-in/580x348/filters:format(webp)/wion/media/post_attachments/bdb7e82a-115.png" srcset="">
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<h2 class="Paragraph SCXW206877242 BCX8" paraid="1616019033" paraeid="{ea5885df-2ad6-41d7-86a3-41c6350685ac}{81}">A shift in capital expenditure strategy&nbsp;</h2>
</div>
<div class="OutlineElement Ltr SCXW206877242 BCX8">
In previous budgets, Sitharaman prioritised large capital expenditures, focusing on infrastructure projects such as railways, highways, and urban development. However, this year&rsquo;s budget takes a more measured approach. The government has allocated ₹11.2 lakh crore for capital expenditure in 2025-26, a modest increase from ₹11.1 lakh crore in the previous budget. This is a notable slowdown compared to the 11% rise in the last budget, signalling a shift towards balancing growth with fiscal prudence.&nbsp;
</div>
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<h2 class="Paragraph SCXW206877242 BCX8" paraid="1654345592" paraeid="{ea5885df-2ad6-41d7-86a3-41c6350685ac}{93}">Maintaining fiscal discipline&nbsp;</h2>
</div>
<div class="OutlineElement Ltr SCXW206877242 BCX8">
Sitharaman has maintained her reputation for financial prudence by keeping the fiscal deficit at 4.4% for the next financial year. This is lower than the expected 4.5%, demonstrating the government&rsquo;s commitment to economic stability while ensuring that resources are allocated effectively. The decision to moderate capital expenditure growth while expanding tax relief highlights the government&rsquo;s strategy of supporting economic activity without compromising fiscal discipline.&nbsp;
</div>
<div class="OutlineElement Ltr SCXW206877242 BCX8">
<h2 class="Paragraph SCXW206877242 BCX8" paraid="341835873" paraeid="{ea5885df-2ad6-41d7-86a3-41c6350685ac}{105}">Focus on Viksit Bharat roadmap&nbsp;</h2>
</div>
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While focusing on tax relief and economic stability, the Viksit Bharat 2047 vision remains a key priority. Sitharaman has detailed plans to rejuvenate key sectors, particularly agriculture and small industries, recognising them as engines of economic growth. The budget also prioritises human capacity building, with a strong emphasis on skill development and workforce training. These initiatives are expected to enhance employability, address job creation concerns, and strengthen the long-term growth trajectory of the economy.&nbsp;
</div>
<div class="OutlineElement Ltr SCXW206877242 BCX8">
<h2 class="Paragraph SCXW206877242 BCX8" paraid="1627843357" paraeid="{ea5885df-2ad6-41d7-86a3-41c6350685ac}{117}">Challenges in the economic landscape&nbsp;</h2>
</div>
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This budget comes at a time when India&rsquo;s economy is facing multiple challenges. Consumer demand remains subdued, inflation is impacting household budgets, and GDP growth is showing signs of slowdown. The Economic Survey estimates a growth range of 6.3% to 6.8% in FY26, which is below the pace required to achieve the Viksit Bharat 2047 target. The report stresses the importance of land and labour reforms to accelerate economic expansion.&nbsp;
</div>
<div class="OutlineElement Ltr SCXW206877242 BCX8">
<h2 class="Paragraph SCXW206877242 BCX8" paraid="501519319" paraeid="{ea5885df-2ad6-41d7-86a3-41c6350685ac}{129}">Balancing growth with sustainability&nbsp;</h2>
</div>
<div class="OutlineElement Ltr SCXW206877242 BCX8">
India continues to be one of the fastest-growing major economies, but there are clear signs of moderation. The government remains committed to achieving an 8% annual growth rate, which is considered crucial for long-term economic prosperity. The projected growth rate for FY25-26 is 6.4%, compared to 8.2% in FY23-24, indicating the need for policy measures that drive sustainable growth.&nbsp;
</div>
<div class="OutlineElement Ltr SCXW206877242 BCX8">
Budget 2025 strikes a careful balance between taxpayer relief, economic expansion, and fiscal discipline. The higher tax exemption limit will benefit millions of middle-class families, while a measured increase in capital spending ensures financial stability. The government&rsquo;s continued focus on employment generation, skill development, and sectoral growth aligns with its long-term vision for a stronger, self-reliant India.&nbsp;
</div>

Business & Economy, Increasing income tax limit is expected to boost disposable income, encourage spending, and provide much-needed financial relief.

Finance Minister Nirmala Sitharaman has placed the middle class at the centre of Budget 2025, offering a significant tax relief that will ease financial burdens on millions of taxpayers. The highlight of this year’s budget is zero income tax for earnings up to ₹12 lakh. For salaried individuals, the exemption limit extends to ₹12.75 lakh, factoring in the ₹75,000 standard deduction. This announcement is expected to boost disposable income, encourage spending, and provide much-needed financial relief. A shift in capital expenditure strategy In previous budgets, Sitharaman prioritised large capital expenditures, focusing on infrastructure projects such as railways, highways, and urban development. However, this year’s budget takes a more measured approach. The government has allocated ₹11.2 lakh crore for capital expenditure in 2025-26, a modest increase from ₹11.1 lakh crore in the previous budget. This is a notable slowdown compared to the 11% rise in the last budget, signalling a shift towards balancing growth with fiscal prudence. Maintaining fiscal discipline Sitharaman has maintained her reputation for financial prudence by keeping the fiscal deficit at 4.4% for the next financial year. This is lower than the expected 4.5%, demonstrating the government’s commitment to economic stability while ensuring that resources are allocated effectively. The decision to moderate capital expenditure growth while expanding tax relief highlights the government’s strategy of supporting economic activity without compromising fiscal discipline. Focus on Viksit Bharat roadmap While focusing on tax relief and economic stability, the Viksit Bharat 2047 vision remains a key priority. Sitharaman has detailed plans to rejuvenate key sectors, particularly agriculture and small industries, recognising them as engines of economic growth. The budget also prioritises human capacity building, with a strong emphasis on skill development and workforce training. These initiatives are expected to enhance employability, address job creation concerns, and strengthen the long-term growth trajectory of the economy. Challenges in the economic landscape This budget comes at a time when India’s economy is facing multiple challenges. Consumer demand remains subdued, inflation is impacting household budgets, and GDP growth is showing signs of slowdown. The Economic Survey estimates a growth range of 6.3% to 6.8% in FY26, which is below the pace required to achieve the Viksit Bharat 2047 target. The report stresses the importance of land and labour reforms to accelerate economic expansion. Balancing growth with sustainability India continues to be one of the fastest-growing major economies, but there are clear signs of moderation. The government remains committed to achieving an 8% annual growth rate, which is considered crucial for long-term economic prosperity. The projected growth rate for FY25-26 is 6.4%, compared to 8.2% in FY23-24, indicating the need for policy measures that drive sustainable growth. Budget 2025 strikes a careful balance between taxpayer relief, economic expansion, and fiscal discipline. The higher tax exemption limit will benefit millions of middle-class families, while a measured increase in capital spending ensures financial stability. The government’s continued focus on employment generation, skill development, and sectoral growth aligns with its long-term vision for a stronger, self-reliant India.

Budget 2025: No tax up to Rs 12 lakh, focus on stability and long-term growth

Finance Minister Nirmala Sitharaman presented the <a href="https://www.wionews.com/tags/india-budget-2025" rel="dofollow">Union Budget 2025 </a>on Saturday (Feb 1), and her speech lasted for 77 minutes, which is shorter than the previous year's speech, which was for 85 minutes.&nbsp;
Sitharaman presented her eighth consecutive budget, setting a record. Earlier, she presented an interim and six regular budgets.&nbsp;
Former Prime Minister Morarji Desai holds the record for presenting 10 budgets, though not in continuance.&nbsp;
Also read: <a href="https://www.wionews.com/business-economy/tax-simplification-is-complete-after-budget-2025-fm-nirmala-sitharaman-promises-income-tax-reforms-bill-next-week-8681348" rel="dofollow">&lsquo;Tax simplification is complete&rsquo;: After Budget 2025, FM Sitharaman promises income tax reforms bill next week</a>
Notably, the longest budget speech in history was made by Nirmala Sitharaman when she presented the Union Budget for 2020-2021. Her speech lasted for 2 hours 42 minutes (162 minutes).&nbsp;
<h2>Finance Minister Sitharaman's budget speech over the years:&nbsp;</h2>
<h3>2024</h3>
Sitharaman gave the speech for an hour and 25 minutes (85 minutes).&nbsp;
<h3>Interim Budget 2024</h3>
During the interim budget last year, Sitharaman presented her sixth consecutive budget with the shortest speech so far, which lasted for 56 minutes.&nbsp;
Also read: <a href="https://www.wionews.com/business-economy/union-budget-2025-whats-cheaper-and-whats-costlier-heres-a-detailed-list-8681544" rel="dofollow">Union Budget 2025: What's cheaper and what's costlier? Here's a detailed list</a>
<h3>2023&nbsp;</h3>
Finance Minister Sitharaman budget speech that year lasted for 87 minutes.&nbsp;
<h3>2022&nbsp;</h3>
In 2022, Nirmala aSitharaman's budget speech was 92 minutes long.&nbsp;
<h3>2021</h3>
In 2021, Sitharaman presented the first paperless budget, during which she gave a speech for 1 hour and 40 minutes. She took a digital tablet wrapped in a traditional "bahi-khata" style pouch.&nbsp;
Also read: <a href="https://www.wionews.com/india-news/common-citizen-going-to-drive-mission-of-viksit-bharat-pm-modi-applauds-union-budget-2025-8680898" rel="dofollow">&lsquo;Force multiplier&rsquo; for India&rsquo;s growth: PM Modi applauds Union Budget 2025</a>
<h3>2020</h3>
The year when Sitharaman broke the record by speaking for two hours and 41 minutes, making it the longest speech in India's history.&nbsp;
During her speech, she paused in the middle of the speech and sat down because, reportedly, her blood pressure dropped.
<h3>2019</h3>
In 2019, Sitharaman presented her first budget and her speech was one of the longest ever, and lasted for 2 hours and 17 minutes. She occasionally shifted to Hindi, Tamil, Urdu and even Sanskrit.&nbsp;
At that time, she did not even pause for a water break and spoke continuously.&nbsp;
(With inputs from agencies)

Business & economy, India news: The longest budget speech in history was made by Sitharaman when she presented the budget for 2020-2021 as her speech lasted for 2 hours 42 minutes.

Finance Minister Nirmala Sitharaman presented the Union Budget 2025 on Saturday (Feb 1), and her speech lasted for 77 minutes, which is shorter than the previous year's speech, which was for 85 minutes. Sitharaman presented her eighth consecutive budget, setting a record. Earlier, she presented an interim and six regular budgets. Former Prime Minister Morarji Desai holds the record for presenting 10 budgets, though not in continuance. Also read: ‘Tax simplification is complete’: After Budget 2025, FM Sitharaman promises income tax reforms bill next week Notably, the longest budget speech in history was made by Nirmala Sitharaman when she presented the Union Budget for 2020-2021. Her speech lasted for 2 hours 42 minutes (162 minutes). Finance Minister Sitharaman's budget speech over the years: 2024 Sitharaman gave the speech for an hour and 25 minutes (85 minutes). Interim Budget 2024 During the interim budget last year, Sitharaman presented her sixth consecutive budget with the shortest speech so far, which lasted for 56 minutes. Also read: Union Budget 2025: What's cheaper and what's costlier? Here's a detailed list 2023 Finance Minister Sitharaman budget speech that year lasted for 87 minutes. 2022 In 2022, Nirmala aSitharaman's budget speech was 92 minutes long. 2021 In 2021, Sitharaman presented the first paperless budget, during which she gave a speech for 1 hour and 40 minutes. She took a digital tablet wrapped in a traditional "bahi-khata" style pouch. Also read: ‘Force multiplier’ for India’s growth: PM Modi applauds Union Budget 2025 2020 The year when Sitharaman broke the record by speaking for two hours and 41 minutes, making it the longest speech in India's history. During her speech, she paused in the middle of the speech and sat down because, reportedly, her blood pressure dropped. 2019 In 2019, Sitharaman presented her first budget and her speech was one of the longest ever, and lasted for 2 hours and 17 minutes. She occasionally shifted to Hindi, Tamil, Urdu and even Sanskrit. At that time, she did not even pause for a water break and spoke continuously. (With inputs from agencies)

How long was Nirmala Sitharaman's 2025 Union Budget speech? Here’s how it compares to her past records

Finance Minister Nirmala Sitharaman presented the Union Budget on Saturday (Feb 1) for the fiscal year 2025-2026. It was her eighth consecutive <a href="https://www.wionews.com/tags/india-budget-2025" rel="dofollow">Union Budget</a> presentation, a record.&nbsp;
This also takes her closer to the record made by former Prime Minister Morarji Desai, who presented 10 budgets across different terms.&nbsp;
As the budget was put on the table, it clarified what is cheaper now and what's expensive.&nbsp;
Also read: <a href="https://www.wionews.com/business-economy/tax-simplification-is-complete-after-budget-2025-fm-nirmala-sitharaman-promises-income-tax-reforms-bill-next-week-8681348" rel="dofollow">'Tax simplification is complete': After Budget 2025, FM Sitharaman promises income tax reforms bill next week</a>
<h2>Here's a look at what's cheaper and what's costlier:&nbsp;</h2>
<h3>List of things that got cheaper</h3>
1. Electronics Basic Customs Duty (BCD) on open cell for interactive flat panel display, touch glass sheet, and touch sensor for LED/LCD TVs reduced from 15 to five per cent.&nbsp;
2. Life-savings drugs&nbsp; A total of 36 drugs for cancer and rare diseases are exempted from BCD.&nbsp;
3. EV, phone batteries The list of exempted capital goods will include 35 new goods for electronic vehicle (EV) battery production and 28 new goods for mobile phone battery production.&nbsp;
4. Seafood In the new budget, customs duty on frozen fish paste is reduced from 30 to five per cent. Further, customs duty on fish hydrolysate for the manufacture of aquatic feed is reduced from 15 to five per cent.
Also read: <a href="https://www.wionews.com/india-news/common-citizen-going-to-drive-mission-of-viksit-bharat-pm-modi-applauds-union-budget-2025-8680898" rel="dofollow">&lsquo;Force multiplier&rsquo; for India&rsquo;s growth: PM Modi applauds Union Budget 2025</a>
5. Cobalt powder Customs duty was reduced from five per cent to nil.&nbsp;
6. Wet Blue leather&nbsp; Customs duty on wet blue weather was reduced from 10 per cent to nil.&nbsp;
7. Synthetic flavouring essences Customs duty on mixtures of odoriferous substances used in the food or drink industries was reduced from 100 to 20 per cent.&nbsp;
8. Mobile equipment Customs duty on inputs/sub-parts of the camera module, connectors, manufacture of wired headset, microphone and receiver, USB cable, fingerprint reader/ sensor of cellular mobile phone reduced from 2.5 per cent to nil.&nbsp;
9. Motorcycle imports&nbsp; Customs duty on engine capacity not exceeding 1600 CC was reduced to 40 per cent, semi-knocked down reduced to 20 per cent, and completely knocked down reduced to 10 per cent. Moreover, engine capacity of 1600 CC and above was reduced to 30 per cent.
Also read: <a href="https://www.wionews.com/india-news/union-budget-2025-fm-sitharaman-exempts-basic-custom-duty-on-lifesaving-drugs-and-medicines-8680995" rel="dofollow">Union Budget 2025: 36 life saving drugs, medicines fully exempted from custom duty</a>
10. Shipbuilding Exemption on customs duty for ships and their parts has now been extended for 10 more years.&nbsp;
11. Space satellite equipment Customs duty imposed on the building of launch vehicles and launching of satellites, ground installation for satellites, including its spares and consumables, reduced to nil.
12. Shuttle less looms Customs duty on rapier looms and air jet looms, which are to be used in the textile industry, reduced from 7.5 per cent to nil
13. Waste and scrap of lithium Customs duty reduced on ion battery, lead, zinc, antimony, beryllium, bismuth, cobalt, cadmium, molybdenum, rhenium, tantalum, tin, tungsten, zirconium, and copper scrap reduced to nil
<h3>List of things that got costlier&nbsp;</h3>
1. Interactive flat display In the new budget regime, the customs duty has been increased to 20 per cent from 10 per cent, as the finance minister said that it is aimed at rectifying the inverted duty structure.
2. Knitted fabrics The customs duty on knitted fabrics has been hiked from 10 to 20 per cent.&nbsp;
3. Social Welfare Surcharge The exemption has been removed on 82 tariff lines currently under cess.
(With inputs from agencies)

Business & economy, india news: As the Union Budget 2025 was presented by FM Nirmala Sitharaman, it clarified what is cheaper now and what's expensive. 

Finance Minister Nirmala Sitharaman presented the Union Budget on Saturday (Feb 1) for the fiscal year 2025-2026. It was her eighth consecutive Union Budget presentation, a record. This also takes her closer to the record made by former Prime Minister Morarji Desai, who presented 10 budgets across different terms. As the budget was put on the table, it clarified what is cheaper now and what's expensive. Also read: 'Tax simplification is complete': After Budget 2025, FM Sitharaman promises income tax reforms bill next week Here's a look at what's cheaper and what's costlier: List of things that got cheaper 1. Electronics Basic Customs Duty (BCD) on open cell for interactive flat panel display, touch glass sheet, and touch sensor for LED/LCD TVs reduced from 15 to five per cent. 2. Life-savings drugs A total of 36 drugs for cancer and rare diseases are exempted from BCD. 3. EV, phone batteries The list of exempted capital goods will include 35 new goods for electronic vehicle (EV) battery production and 28 new goods for mobile phone battery production. 4. Seafood In the new budget, customs duty on frozen fish paste is reduced from 30 to five per cent. Further, customs duty on fish hydrolysate for the manufacture of aquatic feed is reduced from 15 to five per cent. Also read: ‘Force multiplier’ for India’s growth: PM Modi applauds Union Budget 2025 5. Cobalt powder Customs duty was reduced from five per cent to nil. 6. Wet Blue leather Customs duty on wet blue weather was reduced from 10 per cent to nil. 7. Synthetic flavouring essences Customs duty on mixtures of odoriferous substances used in the food or drink industries was reduced from 100 to 20 per cent. 8. Mobile equipment Customs duty on inputs/sub-parts of the camera module, connectors, manufacture of wired headset, microphone and receiver, USB cable, fingerprint reader/ sensor of cellular mobile phone reduced from 2.5 per cent to nil. 9. Motorcycle imports Customs duty on engine capacity not exceeding 1600 CC was reduced to 40 per cent, semi-knocked down reduced to 20 per cent, and completely knocked down reduced to 10 per cent. Moreover, engine capacity of 1600 CC and above was reduced to 30 per cent. Also read: Union Budget 2025: 36 life saving drugs, medicines fully exempted from custom duty 10. Shipbuilding Exemption on customs duty for ships and their parts has now been extended for 10 more years. 11. Space satellite equipment Customs duty imposed on the building of launch vehicles and launching of satellites, ground installation for satellites, including its spares and consumables, reduced to nil. 12. Shuttle less looms Customs duty on rapier looms and air jet looms, which are to be used in the textile industry, reduced from 7.5 per cent to nil 13. Waste and scrap of lithium Customs duty reduced on ion battery, lead, zinc, antimony, beryllium, bismuth, cobalt, cadmium, molybdenum, rhenium, tantalum, tin, tungsten, zirconium, and copper scrap reduced to nil List of things that got costlier 1. Interactive flat display In the new budget regime, the customs duty has been increased to 20 per cent from 10 per cent, as the finance minister said that it is aimed at rectifying the inverted duty structure. 2. Knitted fabrics The customs duty on knitted fabrics has been hiked from 10 to 20 per cent. 3. Social Welfare Surcharge The exemption has been removed on 82 tariff lines currently under cess. (With inputs from agencies)

Union Budget 2025: What's cheaper and what's costlier? Here's a detailed list