Economy and Finance

Uttar Pradesh's budget for the fiscal year 2025-26 prioritizes infrastructure development, technology, education, healthcare, and social welfare, aiming to accelerate economic growth and improve public services across the state.

Tesla has identified two locations in New Delhi and Mumbai for setting up car manufacturing units in India. The company has also advertised 13 mid-level job posts.

The Mahakumbh festival in the holy city of Prayagraj is estimated to have generated business of over ₹3 lakh crore (USD 360 billion) through goods and services, as per Confederation of All India Traders

In a remarkable turnaround, state-owned telecom operator Bharat Sanchar Nigam Limited (BSNL) has turned profitable for first time since 2007.

The existing Income Tax Act has 23 chapters containing 536 sections and 16 schedules. The new Bill with 298 sections and 14 schedules will be more concise the existing act. Once passed in the Parliament, the Bill will come into effect from April 1, 2026

India's merchandise trade deficit is expected to have narrowed to USD 20.88 billion in January 2025, down from USD 21.94 billion in December 2024, according to a report by Union Bank of India.

When asked how much persuasion did it take to get the PM on board regarding the cut in income tax, Sitharaman said that it was the bureaucrats who needed to be convinced

Budget 2025 adds a further flair to the flourishing route towards an aspirational India’s striding march to Viksit Bharat 2047.   

Under the tax structure announced in the budget, marginal relief will be calculated by deducting the amount exceeding ₹12,00,000 from the tax calculated on the entire taxable income

While now there is no tax on income up to ₹12 lakh, in 2014 it was in the highest tax bracket, which started at ₹10 lakh with a tax rate of 30%.