(Reuters) -India plans to cut personal income tax rates to boost middle-class spending power and seeks to increase private investment to strengthen growth, the 2025-26 budget showed on Saturday. The world’s fifth-largest economy is expected to post its slowest growth in four years next year amid frail urban demand and weak private investment, while stubbornly …
(Reuters) – Shares of Indian real estate companies rose on Saturday after the government announced measures to boost the spending power of the middle class in Asia’s third-biggest economy, likely spurring investments in the residential housing space. India’s plan to cut income tax rates in the 2025-26 budget was widely welcomed by investors and experts, …
Indian real estate firms cheer government’s tax relief plan to boost consumption Read More »
By Nidhi Verma NEW DELHI (Reuters) – India will provide 55.97 billion rupees ($646.78 million) support for purchase of oil for the country’s strategic petroleum reserves (SPRs), the budget document showed on Saturday. Indian Strategic Petroleum Reserve Ltd (ISPRL), which manages federal oil inventories, operates three SPRs in southern India with a combined capacity of …
India to provide $647 million to support strategic reserve oil purchases in 2025-26 Read More »
By Praveen Paramasivam and Sai Ishwarbharath B CHENNAI/BENGALURU (Reuters) -India’s plans to cut personal income tax rates will put more disposable income in the hands of the people and eventually boost consumption in the world’s fifth-largest economy, top executives said on Saturday. The comments came after the government in its annual budget said that people …
India’s tax cut plans will spur consumption, top execs say Read More »
By Nidhi Verma NEW DELHI (Reuters) – India will set up a 250-billion-rupee ($2.9-billion) maritime development fund for the long-term financing of the country’s shipbuilding and repair industry, Finance Minister Nirmala Sitharaman said on Saturday. The South Asian nation is spending billions of dollars to refurbish infrastructure in an effort to become a world-class manufacturer …
India to set up $3-billion maritime development fund for shipping industry Read More »
By Nikunj Ohri, Shivangi Acharya and Sarita Chaganti Singh NEW DELHI (Reuters) -India slashed personal tax rates in its annual budget on Saturday, as the world’s fifth largest economy focuses on boosting domestic demand amid uncertainty over the global economic outlook due to potential new tariff barriers. The world’s most populous country is expected to …
Modi turns to India’s vast middle class to revive growth in rough global year Read More »
By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) – India will launch a six-year programme to boost the output of pulse crops by taking measures including directing state agencies to buy the staple at guaranteed prices, the finance minister said on Saturday, in a bid to cut reliance on imports. Rising demand has forced …
India unveils long-term programmes to boost pulses, cotton output Read More »
By Manoj Kumar NEW DELHI (Reuters) -India will focus on boosting the spending power of its middle class population, encouraging inclusive development and private investment to strengthen growth, Finance Minister Nirmala Sitharaman said on Saturday, announcing the annual budget. Measures to assist the poor, the youth, farmers and women were also a part of the …
India budget aims to boost spending power of middle class, support growth Read More »
NEW DELHI (Reuters) – India has scrapped customs duty on waste and scrap of a dozen critical minerals, Finance Minister Nirmala Sitharaman said during her annual budget presentation on Saturday. India scrapped customs duty on waste and scrap of antimony, cobalt, tungsten and copper scrap, among others. Customs duties on waste and scrap of lithium-ion …
India scraps custom duties on waste and scrap of dozen critical minerals Read More »
NEW DELHI (Reuters) – India cut personal income tax rates for some individuals in a bid to boost consumption across Asia’s third-largest economy, which is projected to grow at its slowest pace in four years. Currently, under the new system introduced in 2020, annual income of up to 1.5 million rupees (about $17,300) attracts a …
India cuts income tax in a bid to boost consumption Read More »
