New York/New Delhi: Billionaire Gautam Adani and his nephew, Sagar Adani, have agreed to receive a legal notice from US Securities and Exchange Commission in a civil fraud lawsuit alleging they misled investors about a bribery scheme, according to a court filing. The stipulation is subject to court approval, reports PTI.In a filing in a…
Mumbai: A day before the Union Budget, State Bank of India chairman CS Setty has sought a level playing field for tax treatment of all financial products, including fixed deposits. The chairman’s comment came in the wake of bank deposits continuing to lag credit growth as retail savings continue to pour into mutual funds.Responding to…
The Union Budget comes with a vocabulary that can be confusing even for regular readers. Many terms are technical, and are used repeatedly across Budget documents, tables and debates. The “Budget at a Glance” table presents a consolidated snapshot of the Union Government’s finances for a financial year, showing actuals, Budget Estimates and Revised Estimates…
US President Donald Trump has claimed that his sweeping tariff policies have created an “American economic miracle”, dismissing warnings of global fallout and asserting that critics of his trade strategy “were all wrong”.In an opinion piece published in The Wall Street Journal, Trump said the tariffs he imposed on nearly all foreign countries last April…
What do salaried taxpayers, middle class, and the common man want from Union Budget 2026? (AI image) Budget 2026 income tax expectations: Like every year, salaried taxpayers, middle class and common man will listen to FM Nirmala Sitharaman’s Union Budget speech in the hope of more tax relief. Last year, FM Sitharaman announced major changes…
Finance Minister Nirmala Sitharaman is set to present her record ninth straight Union Budget, with markets closely tracking headline numbers ranging from the fiscal deficit and capital expenditure to borrowing and tax revenue projections, as India charts its course as the world’s fastest-growing major economy.The Budget will be presented in a paperless format, continuing the…
Improving the ease of doing business has been a consistent focus of the government. Successive Budgets have announced initiatives towards policy and regulatory reforms, decriminalisation and easing compliances in various spheres including taxation. The current financial year witnessed significant measures like structural simplification through the new Income tax law, boosting consumption through tax reliefs for…
India’s Union Budgets over the past eight decades have reflected the country’s evolving aspirations and economic journey. The upcoming Union Budget for 2026–27, to be presented on February 1, marks several firsts and milestones in that long tradition.With just a day to go, the country is gearing up for the financial statement that will be…
MUMBAI: IDFC First Bank reported a 48.1% jump in net profit to Rs 503 crore for the third quarter ended December, from Rs 339 crore in the corresponding quarter last year. The increase was helped by higher core income, lower sequential provisions and an improvement in asset quality.The bank’s bottom line improved aided by stronger…
India’s foreign exchange reserves rose by a sharp $8.053 billion to touch a new all-time high of $709.413 billion in the week ended January 23, extending the recent rebound after months of pressure from rupee volatility, according to data released by the Reserve Bank of India.The latest rise follows a jump of $14.167 billion in…
