The government is expected to introduce the Insurance (Amendment) Bill in the Budget 2025 session, aiming to allow 100% FDI (foreign direct investment) in the insurance sector. This follows the 2021 reform that raised the FDI limit from 49% to 74%. Key Proposed Amendments The Bill aims to bring significant changes to the insurance industry, …
The Confederation of Indian Industry (CII) has presented a 10-point agenda to the government ahead of Budget 2025. The recommendations focus on reducing the compliance burden, simplifying regulatory processes, and enhancing transparency to improve the ease of doing business in India. Key Recommendations by CII 1. Streamlined Regulatory Approvals CII suggests that all regulatory approvals …
Private sector employees covered by the Employees’ Provident Fund Organisation (EPFO) have been pushing for an increase in their minimum pension, which is currently set at ₹1,000 per month. After years of campaigning, a delegation of EPS-95 pensioners met Finance Minister Nirmala Sitharaman on January 10 to ask for a raise to ₹7,500 per month, …
The Institute of ICAI (Chartered Accountants of India) has suggested to the Indian government that married couples should be allowed to file their income tax returns (ITRs) jointly under the New Tax Regime in the upcoming Budget 2025. This proposal aims to provide relief to families with a single earning member and reduce tax evasion. …
In the latest Budget 2024 announcement, a significant change has been proposed that affects how we calculate long-term capital gains on property, gold, and other unlisted assets. The Finance Bill, presented in Parliament on Tuesday, suggests removing the indexation benefit that is currently available for these assets. Simplifying Capital Gains Computation The government states that …
On Tuesday, July 23, Finance Minister Nirmala Sitharaman presented the Union Budget 2024 for the seventh time. The budget document included Part B, read along with the Finance Bill, 2024, highlighting the government’s tax proposals. The amendments in direct taxation captured the attention of investors due to significant tax reforms, such as a substantial hike …
The Indian government has introduced significant reforms in the agriculture sector with the Budget 2024, aiming to achieve self-sufficiency and boost farmer incomes. These reforms include the Atmanirbhar Oil Seeds Abhiyan, development of large-scale vegetable production clusters, and various other initiatives to strengthen the agricultural supply chain. Let’s delve into these reforms and explore the …
On July 23, 2024, Finance Minister Nirmala Sitharaman presented its 7th consecutive budget, which is a record in India’s history. The budget was primarily focused on Productivity and Resilience in Agriculture, Employment and Skilling, Inclusive Human Resource and Development, and Social Justice, Manufacturing Services, Urban Development, Energy Security, Infrastructure, Innovation and Research & Development, and …
The first session of the 18th Lok Sabha, which ended earlier this month, was marked by heated arguments between the ruling party and the opposition on several topics. Despite ongoing disagreements between the ruling and opposition parties, the upcoming Budget session of Parliament, starting Monday, will address 5 Bills but won’t cover major economic laws. …
Finance Minister Nirmala Sitharaman took part in the ‘Halwa’ ceremony on July 16, 2024, marking the final stage of the preparation for the Union Budget 2024-25. This annual event was held at the Finance Ministry headquarters in North Block, Delhi. Let’s understand the Purpose of the ‘Halwa Ceremony’ Before Each Budget. The Significance of the …
