Centre plans to borrow Rs 7.5 trillion from market in H1-2024-25
New Delhi [India], March 27 (ANI): The central government plans to raise Rs 7.5 trillion through market borrowing in the first half of 2024-25 (April-September), an official release from the finance ministry said on Wednesday. The government raises funds primarily to meet the revenue gap. Show Full Article Out of Gross Market borrowing target of […] Key Points
ThePrintFM Nirmala Sitharaman attends RBI Board of Directors meeting
Union Finance Minister Nirmala Sitharaman attended a meeting with members of the Central Board of Directors of the Reserve Bank of India (RBI) on Saturday in New Delhi. The meeting took place after the Union Budget 2024-25 and subsequent passage of the finance bill in the Lok Sabha, along with some government-moved amendments. Key Points
Economic TimesRBI pegs FY25 growth at 7%, highlights cross-sector positives that will boost the economy
In its annual report, RBI also estimated retail inflation to average at 4.5% in FY25, higher than its target of 4%. It added that climate shocks add uncertainty to inflation outlook. Key Points
ThePrintThe math of how the Centre plans to cut fiscal deficit, explained
The Centre stayed put on the fiscal consolidation path, aiming to bring the deficit down to 5.1% in 2024-25. Reducing revenue expenditure as a share of GDP is the key factor behind this. Key Points
mintFinal Cost Inflation Index for FY24 to be fixed at 348
“This notification shall come into force with effect from the 1st day of April 2024 and shall, accordingly, apply in relation to the assessment year 2024-25 and subsequent assessment years” According to the Central Board of Direct Taxes (CBDT) notification. Cost Inflation index is used for calculating long-term capital gains arising from sale of immovable property, securities and jewellery after adjusting inflation when they file income tax returns (ITR) next year. Key Points
Economic Times
Government pitches for APAAR student ID in states
Linked to the Digilocker and ideally the Aadhaar number, the new student ID is envisaged as a universal student identifier throughout the school education system. It is expected to be started off at government and government-aided schools, with a plan for universalisation, the Union education ministry told all the state chief secretaries last month. Key Points
Economic TimesBudget 2024: All's well that still sticks to welfare delivery
Some might fret over the likely impact on economic growth of the capex compression. However, GoI could well argue that the private sector is likely to step up in the next fiscal. Lower borrowings due to the deficit compression could reduce borrowing costs for the private sector and help investment recovery. The government bond market has responded well to the deficit (and borrowing)-reduction plans. Key Points
The Economic TimesRBI MPC announcements: GDP growth for 2024-25 projected at 7%, says Shaktikanta Das
RBI MPC: Real GDP for 2024-25 Q1 is now projected at 7.1 per cent, from 6.7 per cent in the previous announcement in December. Key Points
Business TodayITR filing 2024-25: What is the best time for maximum benefits?
The tax department received about 6 lakh returns in the first month of AY 2024-25. Almost two-thirds of these returns have already been processed.3.5 Key Points
India TodayDemand under rural jobs scheme seen 27% lower in FY25
The rural development ministry has pegged the 2024-25 person-day generation target (called labour budget) at 2.21 billion under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), down 27% from the actual level in the previous fiscal. Key Points
Economic Times
DKS: No hike in property tax in Bengaluru from April 1
State govt denies 2024-25 Bengaluru property tax revision. 2016 levy method remains. Police crackdown on fake news. Misinformation debunked. No proper Key Points
Times Of IndiaBlackpink's Jisoo, Seventeen's Mingyu at Dior's Paris Fashion Week show: Watch
Blackpink's Jisoo and Seventeen's Mingyu attended the Dior Autumn/Winter 2024-25 Paris Fashion Week show. Check out what they wore for the star-studded event. | Fashion Trends Key Points
Hindustan TimesLok Sabha passes Finance Bill, completes exercise for interim budget 2024-25
On Wednesday, the Lok Sabha approved the Union Government's interim Budget 2024-25, amounting to Rs 47.66 lakh crore, through a voice vote. Additionally, the lower house also passed the budget of Rs 1.8 lakh crore for the Union Territory of Jammu and Kashmir, again via a voice vote. Finance Minister Nirmala Sitharaman piloted both budgets, along with the supplementary demands for grants and relevant appropriation bills. Key Points
Economic TimesCentre extends this scheme by another 5 years, 81 crore Indians will benefit
The government will spend a total of ₹ 11.80 lakh crores over next five years, Union minister Anurag Thakur announced. | Latest News India Key Points
Hindustan Times