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In a continuing quest to encourage small and medium firms in the clean energy sector, Union Finance Minister Nirmala Sitharaman has exempted cobalt powder and waste, the scrap of lithium-ion batteries, lead, zinc, and 12 other critical minerals from basic customs duty. In her July 2024 Budget, Ms Sitharaman had already exempted 25 critical minerals…
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In a quest to boost private sector research and development in India, the Union Budget has allocated ₹20,000 crore to the Ministry of Science and Technology (MoST) for “research, development and innovation”, which several scientists have described as “historic”. Typically, the Ministry’s annual budget has averaged around ₹6,000 crore to ₹8,000 crore. “This is a…
The Finance Minister said the total number of students in 23 IITs has increased 100% from 65,000 to 1.35 lakh in the past 10 years. A view of IIT Madras. File The Union Budget 2025-26 has increased the allocation for school and higher education and has announced Bharatiya Bhasha Pustak Scheme to provide digital-form Indian language…
The Union Budget has increased the allocation for the Ministry of External Affairs (MEA) by 15.45%. The total allocation of ₹20,516.61 crore made for the annual requirements of the MEA is, however, without the EXIM bank provisioning that is also part of the MEA’s annual budget plans. The Ministry has received ₹6,750 crore comprising 33%…
Read More “Union Budget 2025: Budgetary allocation for MEA hiked by 15.45%” »
Prathap C Reddy. | Photo Credit: The Hindu Prathap C. Reddy, chairman of Apollo Hospitals, said Union Budget 2025 will serve as a launchpad to establish India as a global centre for advanced healthcare and medical innovation. Praising the Budget, Dr. Reddy said the addition of 75,000 new medical seats over the next five years…
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Government would introduce the Jan Vishwas Bill 2.0 to decriminalise over 100 outdated legal provisions to achieve greater ease of doing business in the country. Photo used for representation purpose only. | Photo Credit: Getty Images/iStockphoto Finance Minister Nirmala Sitharaman announced in the Union Budget 2025-26 speech that the government would introduce the Jan Vishwas Bill…
The government has allocated ₹99,858.56 crore for the Union Health Ministry in the Union Budget 2025-26 — ₹95,957.87 crore for the Department of Health and Family Welfare and ₹3,900.69 crore for the Department of Health Research. It is an increase from ₹89,974.12 crore allocated in the Budget (revised estimates) of 2024-2025. The government has announced…
Though Telangana submitted a wish-list of requirement for various projects, it drew a blank in the Union Budget 2025-26. The image is used for representative purposes only. | Photo Credit: Getty Images For the second successive year, Telangana got short shrift in the Union Budget with almost zero allocation for any of the projects for…
Read More “Union Budget 2025-26 leaves Telangana sulking for the second year in a row” »
For income taxpayers, the ‘nil tax’ slab was increased to Rs 12 lakh in the Union Budget 2025. Despite announcing that no income tax needs to be paid up to an income of Rs 12 lakh under the new regime, the government is still expecting the share of income tax in gross tax collections to…
Finance Minister Nirmala Sitharaman today will present a record eighth consecutive Union Budget that is expected to contain measures to shore up weakening economic growth and ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent. This will take Ms. Sitharaman closer to the record of…