US EditionIndia’s Narendra Modi faces tough budget challenge as economy slows
- India's economy is projected to grow between 6.3% and 6.8% in the next fiscal year, indicating sluggish conditions with growth set to sag to a four-year low this year according to a finance ministry report.
- Finance Minister Nirmala Sitharaman will present the national budget on February 1, amid weak domestic demand and rising global uncertainties affecting the economy.
- Experts expect the budget to focus on boosting consumption and manufacturing, while possibly lowering personal income tax for middle-income households to stimulate spending.
- The Indian government is likely to lower its fiscal deficit target to 4.4% of GDP for the next fiscal year, down from 4.9% for the current fiscal year, as per UBS projections.
137 Articles
137 Articles
Amid 90-hour work week debate, IITian CEO slams Indian techies over ’reluctance’ to work 6 days a week despite…
IITian CEO Varun Vummadi's comments on Indian engineers' reluctance to work six days a week sparked a debate online. Many argue favoured a five-day workweek, citing work-life balance, others countered productivity over excessive working hours.
Budget 2025: I-T exemption threshold remains unchanged for 10 years - Will FM raise it this time?
Budget 2025: As Finance Minister Nirmala Sitharaman prepares to present Union Budget 2025 on February 1, salaried people are expecting some relief in terms of income tax liability. Experts believe that the threshold should be changed as it has remained unchanged at Rs 2.5 lakh since 2014 in the old tax regime. Old tax regime Under the old tax regime, Income from Rs 2.5-5 lakh attracts 5 per cent tax, and 20 per cent for income between Rs 5 lakh …
Private Sector Must Share Profits With Employees For Growth: Chief Economic Advisor
Chief Economic Adviser Anantha Nageswaran painted a stark picture of how Indian corporates are compensating their workers and employees, and called for a more equitable distribution of incomes. "If you look at the growth in profitability and the growth in employment expense - a combination of hiring and compensation - there is a huge disparity between the two, which has been highlighted by several private players themselves in the last few month…
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