India's Budget 2025 may potentially abolish the old tax regime. The new tax regime, default since 2020-21, offers simplified, lower tax rates with fewer benefits. Experts emphasize allowing deductions for medical premiums under Section 80D and for disabilities under Section 80U, arguing these are necessities. Ensuring equitable tax relief promotes fairness in the tax system.
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India's goods exports marginally increased to $437.4 billion in 2024-25, possibly influenced by anticipatory shipments before potential US tariffs. Despite global challenges, total goods and services exports rose by 6% to $820 billion, with non-oil exports reaching a record $374 billion. Engineering and electronics exports saw significant growth, highlighting India's resilience in a tough economic climate.
The National Company Law Tribunal has approved JSW Energy's resolution plan for KSK Mahanadi Power Company, resulting in a Rs 16,000 crore upfront cash recovery for creditors. Creditors will also receive a 26% stake in the company. The resolution, involving substantial financial players, emphasizes NCLT's commitment to expedite high-value cases.
Canon sees a promising opportunity in India's burgeoning semiconductor market. The company is negotiating with chip manufacturers setting up facilities in India to supply its lithography equipment. Canon is optimistic about achieving double-digit growth in the coming years, driven by India's strong economic outlook and expanding industries.
Air cargo demand rose by 3.2% year-on-year in January 2025, maintaining 18 months of growth, according to IATA. Capacity also increased by 6.8%. However, yield and cargo load factors slightly declined. Positive factors include trade growth and e-commerce, but tariffs remain a concern. Regional performance varied, with Latin America showing the strongest growth.
Elon Musk faced significant setbacks on March 10, with Tesla's stock plummeting by over 15% and his social media platform X experiencing major outages. The twin crises coincided with market panic and increasing criticism of Musk's political ties to Trump's administration. Additionally, Tesla's declining sales and growing competition, particularly from China's BYD, compound the challenges.
Gold prices reached an all-time high of Rs 86,875 per 10 grams, driven by investor demand for safe havens amid US trade tariffs and global economic slowdown. Silver also saw fluctuations, ending at Rs 99,389 per kilogram. Market sentiment reflects expectations of a less aggressive Federal Reserve policy and ongoing volatility in the dollar index and US trade.
Commerce and Industry Minister Piyush Goyal shared that a German chemical firm plans to invest USD 1.5 billion in India. A state has already identified land for the investment, aimed at boosting FDI. The government’s efforts to improve business conditions and resolve legal issues were highlighted as attracting global investments.
Major cryptocurrencies, including Bitcoin and ether, experienced sharp declines on Monday amid rising tariff tensions led by US President Donald Trump’s import levies on Canada, Mexico, and China. Bitcoin hit a three-week low, while ether saw its steepest drop since September. Analysts warn of further market volatility and potential economic slowdown.
Magma General Insurance’s board has approved an agreement for Patanjali Ayurved and foundations to acquire a controlling stake, valued at Rs 4,500 crore, pending regulatory approvals. Patanjali, led by Baba Ramdev, and DS Group aim to inject capital to expand operations. Adar Poonawalla expressed confidence in the continued growth under the new ownership.
India's economic environment is favorable for private investments, revealing a bright outlook despite global challenges, according to a CII survey. It indicates a significant increase in employment and wage growth, with 97% of firms planning to hire and 75% seeing the conditions conducive for investments till FY26.