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  The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points from 6.50% to 6.25% in its monetary policy review as announced on February 7, 2025. After the RBI repo rate cut, banks such as SBI, Canara Bank, PNB, and Union Bank among others have cut their repo linked lending rates. Most other banks are also expected to cut their lending rates in line with the RBI rate cut. After banks cut their lending rates, their home loan borrowers will have to pay less interest. Normally, when a lender cuts the lending rate, borrowers get two options: Either to go for a reduction in EMIs or reduce the tenure of the loan. The second option will help the borrowers clear their home loan outstanding faster. In case, the borrower goes for reduction in EMI then the lower lending rate of the lender would mean lower Equated Monthly Installment (EMI) for borrowers.   EMI is the amount you will pay on a specific date each month till the loan is repaid in full.A repo rate-linked home ...

  The Indian startup sector received a boost with Finance Minister Nirmala Sitharaman announcing the establishment of a new fund of funds (FoF) in the Budget 2025. The minister unveiled a fresh FoF with an expanded scope, allocating Rs 10,000 crore. The initial fund of funds announced by the government with an investment of Rs 10,000 crore successfully catalysed commitments worth Rs 91,000 crore, the minister said.   “The renewal of the Rs 10,000 crore commitment to the Fund of Funds for alternative investment funds (AIFs) is a significant step forward for the Indian startup and investment ecosystem. The initial Rs 10,000 crore commitment catalysed Rs 91,000 crore in investments, and I fully expect this fresh infusion to attract an additional Rs 1 lakh to Rs 1.5 lakh crore in capital,” said Anirudh Damani, managing partner, Artha Venture Funds.   Damani further added that this initiative will provide much-needed growth capital to early-stage startups, further strengthenin...

BUDGET 2025 HIGHLIGHTS THE FINANCE BILL, 2025   (PDF) MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL, 2025   (PDF)

  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...

  There will be no income tax payable for earnings up to Rs 12 lakh under the new tax regime, Union Finance Minister Nirmala Sitharaman announced on Saturday while presenting the Union Budget 2025. Including the standard deduction of Rs 75,000, the tax-free limit rises to Rs 12.75 lakh. New tax structure, The budget proposes revised slabs and rates, which Sitharaman said would reduce the tax burden on the middle class, allowing for greater disposable income. Tax rates under the new regime:   Rs 0 - Rs 4 lakh: Nil  Rs 4 - Rs 8 lakh: 5%   Rs 8 - Rs 12 lakh: 10% Rs 12 - Rs 16 lakh: 15%   Rs 16 - Rs 20 lakh: 20%   Rs 20 - Rs 24 lakh: 25%   Above Rs 24 lakh: 30%     The revised rates apply to regular income sources such as salaries, pensions and bank deposits. Capital gains, which are taxed separately, do not fall under this structure.     Expected tax savings     An analysis by EY India shows how much salaried individuals...

  New Delhi: Driven by festive demand, the Goods and Services Tax (GST) collections for the Union and state governments climbed to Rs.1.82 trillion in November, marking an 8.5% year-on-year growth, according to official data released on Sunday. Sequentially, however, the latest collection figures are lower than the Rs.1.87 trillion reported in October, which was the second highest reported so far since the new indirect tax regime was introduced in 2017. The highest-ever GST collection of Rs.2.1 trillion was reported in April. The consumption tax figures highlight the positive impact of the recent festive season on goods purchases, providing a much-needed boost the industry had been anticipating. The uptick in GST collections driven by festive demand had been anticipated by policymakers, who remain optimistic about sustained growth in rural consumption and an improvement in urban demand. The Ministry of Finance, in its latest monthly economic review released last week, stated that I...

  Despite GDP growth declining to 5.4 per cent in the July–September quarter, the Reserve Bank of India’s (RBI) six-member monetary policy committee (MPC) is expected to maintain the current repo rate during its review meeting this week, according to a Business Standard survey of 10 respondents. Among the respondents, only IDFC First Bank forecast a 25-basis-point (bps) reduction in the repo rate. Since May 2022, the RBI has raised the repo rate by 250 bps to 6.5 per cent as of February 2023 and has held it steady across the last 10 policy reviews. The latest GDP figures, published on Friday (November 29), showed that growth for Q2 FY25 slowed to 5.4 per cent year-on-year, down from 6.7 per cent in Q1. Most survey participants suggested that the RBI might revise its growth and inflation projections for the financial year. The poll indicated that the central bank could lower its growth estimate from the current 7.2 per cent and increase its inflation forecast, currently at 4.5 per c...