Budget Session LIVE: After tax cuts, all eyes on Finance Bill, new Income Tax Bill

11:11 AM, 'Establishment of Centre of Excellence for AI will drive innovation'

According to Indranil Manna Vice Chancellor, BIT Mesra, Ranchi, "The much-awaited Union Budget 2025 delivers a promising roadmap for India's education sector. The establishment of a Centre of Excellence for AI in Education with an outlay of Rs 500 crore will drive innovation and cutting-edge research in artificial intelligence and emerging technologies." Manna added, "In addition, the expansion of infrastructure in IITs, allowing for 6,500 additional seats will further strengthen India's technical education ecosystem. We are also encouraged by the focus on skilling through five National Centres of Excellence and the Deeptech Fund of Funds, which will facilitate and empower our youth to lead in global technological advancements."10:50 AM'Budget 2025-26 a good step towards self-sustainability'According to Dr Abhinav Priyadarshi Tripathi, Associate Professor, Christ University, Delhi-NCR campus, "It’s high time to acknowledge that our Budget should incorporate global perspective. The way world politics is changing after Trump’s re-election, one has to push a substantial habit of consumption and earning to the biggest spender i.e. middle class of this country. This Budget is another step towards self-sustainability and a consumption and production-driven economy, especially when every seller is looking towards us with a bigger market." 10:27 AM'Efforts to simplify travel, improve connectivity commendable'According to Manoj Adlakha, Founder & CEO, RedBeryl™?, "The Union Budget for 2025-2026 brings promising developments for the tourism and hospitality sector, emphasising infrastructure development. A major initiative announced is the collaboration with states to develop the top 50 tourist destinations, set to significantly boost tourism. Hotels in these areas on the infrastructure harmonisation list opens up new avenues to improve the visitor experience. Efforts to simplify travel and improve connectivity are commendable. These measures will benefit young people, promote local businesses, and ensure travel is more accessible for everyone." He added, "Supporting start-ups through extended incorporation periods and setting up a new Fund of Funds will foster innovation and help business growth."10:25 AM 'Budget provides right resources, incentives for entrepreneurs to scale up' Speaking on Budget, Vibha Tripathi, Founder, Boon, said, "The Union Budget 2025–2026 has taken a significant step towards MSMEs and start-ups, providing easier access to funding required for growth and innovation while also increasing micro-enterprise loan guarantee coverage. The focus on start-ups is also encouraging, with the rise in credit guarantee cover to Rs 20 crore and the establishment of a Rs 10,000 crore Fund of Funds, signaling a strong commitment to innovation." She added, "The Clean Tech Mission is an excellent step for sustainable businesses, and the extension of the Jal Jeevan Mission to 2028 will provide tap water connections to 15.43 crore rural households, significantly improving the quality of life for many." 10:21 AM'Allocation for AI Centres of Excellence a transformative move' Speaking on the Budget, Monica Malhotra Khandari, MD, AASOKA, said, "We applaud the government’s visionary initiatives in education and skilling. The Rs 500 crore allocation for AI Centres of Excellence in Education marks a transformative move towards making learning more adaptive and future-ready." She added, "Our platforms are already offering valuable resources, and the government’s Bharatiya Bhasha Pustak scheme will further amplify the impact of online learning. Moreover, the establishment of 50,000 Atal Tinkering Labs and the provision of broadband connectivity for all secondary schools will significantly enhance access to digital education. These steps, particularly in Tier 2 and Tier 3 cities, will fuel the growth of EdTech platforms, ensuring that quality education reaches every part of the country. Additionally, the creation of three AI-focused Centres of Excellence underscores the increasing role of artificial intelligence in shaping the future of education."

-Business standard 03st February, 2025

Household debt up, but India still lags emerging-market economies: RBI

Although household debt in India is rising, driven by increased borrowing from the financial sector, it remains lower than in other emerging-market economies (EMEs), the Reserve Bank of India (RBI) said in its Financial Stability Report. It added that non-housing retail loans, largely taken for consumption, accounted for 55 per cent of total household debt.As of December 2024, India’s household debt-to-gross domestic product ratio stood at 41.9 per cent. “...Non-housing retail loans, which are mostly used for consumption purposes, formed 54.9 per cent of total household debt as of March 2025 and 25.7 per cent of disposable income as of March 2024. Moreover, the share of these loans has been growing consistently over the years, and their growth has outpaced that of both housing loans and agriculture and business loans,” the RBI said in its report.Housing loans, by contrast, made up 29 per cent of household debt, and their growth has remained steady. However, disaggregated data sho...

External spillovers likely to hit India's financial system: RBI report

While India’s growth remains insulated from global headwinds mainly due to buoyant domestic demand, the domestic financial system could, however, be impacted by external spillovers, the Reserve Bank of India (RBI) said in its half yearly Financial Stability Report published on Monday.Furthermore, the rising global trade disputes and intensifying geopolitical hostilities could negatively impact the domestic growth outlook and reduce the demand for bank credit, which has decelerated sharply. “Moreover, it could also lead to increased risk aversion among investors and further corrections in domestic equity markets, which despite the recent correction, remain at the high end of their historical range,” the report said.It noted that there is some build-up of stress, primarily in financial markets, on account of global spillovers, which is reflected in the marginal rise in the financial system stress indicator, an indicator of the stress level in the financial system, compared to its p...

Retail inflation cools to a six-year low of 2.82% in May on moderating food prices

New Delhi: Retail inflation in India cooled to its lowest level in over six years in May, helped by a sharp moderation in food prices, according to provisional government data released Thursday.Consumer Price Index (CPI)-based inflation eased to 2.82% year-on-year, down from 3.16% in April and 4.8% in May last year, data from the Ministry of Statistics and Programme Implementation (MoSPI) showed. This marks the fourth consecutive month of sub-4% inflation, the longest such streak in at least five years.The data comes just days after the Reserve Bank of India’s (RBI) Monetary Policy Committee cut the repo rate by 50 basis points to 5.5%, its third straight cut and a cumulative reduction of 100 basis points since the easing cycle began in February. The move signals a possible pivot from inflation control to supporting growth.Food inflation came in at just 0.99% in May, down from 1.78% in April and a sharp decline from 8.69% a year ago.A Mint poll of 15 economists had projected CPI ...

CA Online

Search This Blog