The new Income Tax Bill, 2025 aims to simplify language, reduce litigation, and lower compliance burdens. It introduces clearer tax year definitions, removes outdated sections, and allows for lower withholding tax certificates under all TDS/TCS provisions, while also simplifying tax provisions for non-resident shipping and airline companies.
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Global supply chains are shifting towards India due to a focus on resilience over efficiency, says Tata Sons chairman N Chandrasekaran. He emphasizes that the Tata Group plans to create five lakh manufacturing jobs in critical sectors including batteries, semiconductors, and electric vehicles over the next five years.
Bitcoin experienced its first weekly decline since Trump's election win, dropping over 7% due to the Fed's cautious policy outlook. This impacted the broader crypto market, which fell about 10%. Experts predict a choppy short-term outlook but remain bullish for Bitcoin into early 2025, with a significant options expiry event expected on December 27th.
India's gems and jewellery sector is highly dependent on exports, with the US being a major market. In FY 2023-2024, India's total exports of gems and jewellery stood at $32.85 billion, with $9.95 billion directed to the US, accounting for 30.29% of the sector's exports.
The government has allocated Rs 11.2 lakh crore for capital expenditure in 2025-26, marking a 10% increase from the revised estimate of the current financial year. The Budget aims to attract private investment in infrastructure through public-private partnerships. Additionally, a Rs 1.5 lakh crore interest-free loan for states' capex and incentives for reforms is proposed.
Budget 2025 expectations: Gold traders, including jewellers and bullion sellers, hope Finance Minister Nirmala Sitharaman will enable middle-class purchases of gold via EMI and fund artisan upskilling in the Union Budget 2025.
The Union government's efforts on infrastructure development and investments in critical sectors such as railways, defense, power, and data centers is expected to drive growth momentum into financial year (FY) 2026 and beyond, says a report by financial services firm Prabhudas Lilladher (PL).
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.
India risks facing a shortfall of over a million skilled AI professionals by 2027, jeopardizing its potential to become a global AI talent hub. The increasing demand for AI expertise necessitates urgent reskilling and upskilling efforts to bridge the significant skills gap.
India's tech sector is projected to become a $300-billion industry in the 2025-26 financial year, with a 6% growth rate. The sector's significant contribution to India's GDP includes a notable increase in tech exports. Employment in the sector saw substantial growth, adding 126,000 jobs in 2024-25, highlighting its critical role in the economy.
Adani group is completely exiting Adani Wilmar Ltd by selling its 43.94% stake. A 31.06% stake will be sold to Wilmar International, raising Rs 12,314 crore, and 13% through the open market. The proceeds, exceeding $2 billion, will boost Adani Enterprises' core infrastructure businesses. This move follows legal challenges faced by founder Gautam Adani in a bribery case.