The finance ministry has informed Parliament that the government's focus is on enhancing the quality of public spending, while also strengthening social security for the underprivileged. Despite global economic instability, the government is committed to reducing the fiscal deficit to under 4.5% by next financial year, emphasizing higher capital expenditure and reducing wasteful spending.
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Budget 2025 income tax: Assocham urges Finance Minister Nirmala Sitharaman to reduce personal income tax rates in the Union Budget 2025, highlighting the substantial gap between personal and corporate tax rates.
Tata Pension Management erroneously listed Divinion Advisory Services, owned by the family of Tata Sons executive Suprakash Mukhopadhyay, as a Tata group company in August 2022. While the error was corrected in subsequent disclosures, Mukhopadhyay's connection to Divinion, including CSR contributions and solicitation of investments, raises potential conflict of interest concerns under Tata Sons' code of conduct.
Taxpayers and businesses are eagerly awaiting the Union budget 2025, with expectations for reforms including increased capex, higher tax exemptions, streamlined tax compliance, and clarified tax guidelines for digital assets. EY India emphasises fiscal consolidation and investment-driven growth as key focuses for sustained economic development.
US stocks climbed Wednesday, driven by tech gains ahead of Nvidia's crucial earnings report. Nvidia soared 4%, its performance seen as critical after concerns over AI infrastructure surfaced. The S&P rose 0.6%, the Nasdaq 100 added 1%, while the Dow Jones gained 0.1%.
India's public sector banks are expected to see a significant profit boost due to a new RBI directive. This allows banks to book profits on security receipts from bad loans sold to NARCL, potentially adding Rs 20,000 crore to their earnings. The change increases liquidity and acknowledges the value of government-backed SRs.
Axis Securities recommends buying V-Mart Retail, anticipating an 8% growth, while Yes Securities sees a 33% potential rise for Godawari Power following its acquisition in the metal recycling sector. Elera Securities suggests investing in Indigo Airlines due to expected demand increase by FY26. ICICI Securities maintains a positive outlook on Emami, citing acquisitions as a growth driver.
Stock market recommendations: Anand Rathi Shares and Stock Brokers' Mehul Kothari suggests buying Saregama and Jio Financial Services, citing bullish patterns and breakouts. Saregama shows strength above its 200 DEMA with an inverse head and shoulder pattern. Conversely, Power Grid is a sell due to exhaustion and resistance near its 200 DEMA, coupled with negative RSI divergence, indicating potential profit booking.
Nissan is ceasing car production in India and selling its 51% stake in a Chennai factory to Renault. Despite struggling with market share, Nissan will continue to introduce new models and remain active in India. Renault plans new investments and electric vehicles, aiming to replicate past successes with models like Duster and Kwid.
Salaried employees opting for the old tax regime for FY 2024-25 must submit investment proofs to claim exemptions and deductions. The new tax regime requires no such documentation, allowing only two specific deductions.
India and the US have agreed to hold sector-specific talks for a bilateral trade agreement aimed at doubling trade to USD 500 billion by 2030. Discussions will focus on increasing market access, reducing tariffs, and enhancing supply chains. The US seeks duty concessions in various sectors, while India is eyeing benefits for its labour-intensive industries.