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budget underscores the government's steadfast commitment to growth without compromising on fiscal discipline. The overarching message is clear: progress for all segments of society through equal opportunity. This blueprint addresses critical sectors such as manufacturing, services, agriculture, and startups, while providing targeted support for women and job seekers. An unwavering resolve to elevate India to a 'developed economy' status by 2047.

Finance Secretary TV Somanathan said in an interview to Anuradha Shukla and Deepshikha Sikarwar. Edited excerpts:

Economic Affairs Secretary Ajay Seth on Wednesday said the Budget has assumed a reasonable nominal GDP growth rate of 10.5 per cent as higher assumption could have led to a larger fiscal deficit. «As far as the current year is concerned, fiscal prudence places the demand on us that we are realistic or a bit conservative in assuming what the potential revenues may be while at the same time provide adequate provisions for productive priorities of the government. That is what this Budget does,» he told PTI in a post-Budget interview.

Jammu and Kashmir, the India-Pakistan border, and parts of central and eastern parts of the country where Naxalites are active. In a revised travel advisory for India, the State Department said it has updated to reflect information on the northeastern states.

India on Wednesday successfully flight-tested Phase-II Ballistic Missile Defence System from off the Odisha coast, the government said in a statement. The test demonstrated India's indigenous capability to defend against ballistic missiles of 5,000 km class, it said.

The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday, the second straight reduction in the central bank’s easing cycle.

After a yearslong saga involving squabbles with the larger ad industry and regulators, Google is ending a plan to eliminate third-party tracking cookies on its Chrome browser. The marketing world is now trying to figure out how such tracking would fare if consumers have more choice to stop it. Four years ago, Google said it would phase out support for third-party cookies, which log the activity of internet users across websites so advertisers can target them with relevant ads and track the effectiveness of those ads.

Matt Hertzog spends 50 hours a week playing Xbox. That makes the 37-year-old part of a key target market for big financial firms. Banks are seeking out millennial and Gen Z customers in the $57 billion-a-year videogame industry.

PLI scheme for large scale electronics manufacturing have cumulatively invested Rs 8,282 crore till June 2024, Parliament was informed on Wednesday. Minister of State for Electronics and IT Jitin Prasada in a written reply to Lok Sabha said that a total of 32 companies were approved with committed investment of Rs 11,324 crore and a projected production target of Rs 10.7 lakh crore under the PLI (Production Linked Incentive) scheme for Large Scale Electronics Manufacturing.

Budget a collection of «jumlas», senior Congress leader Selja cautioned NDA members Nitish Kumar and N Chandrababu Naidu that they may celebrate today for getting a large share but it doesn't take long for time to change. Selja initiated the discussion on the Budget and questioned how target groups were identified without a caste census.

Union Budget 2024-25 will stimulate exports and employment generation in leather and footwear sector, acording to Rajendra Kumar Jalan, Chairman, Council for Leather Exports (CLE).

borrowing later in the financial year if inflows into national small saving schemes (NSSF) are high, Economic Affairs Secretary Ajay Seth told Reuters on Wednesday.

NATO summit in Washington this month but, away from the public stage, the alliance's military planners have been focused on assessing the enormous cost of fixing Europe's creaking defences. NATO leaders agreed plans last year for the biggest overhaul in three decades of its defence capabilities, amid growing fears of Russian aggression.

₹1,070 crore driven by healthy bookings in this project. It sold six units at Three Sixty West during the quarter (versus eight in all of FY24) for ₹480 crore, giving it an average realisation of about ₹1,28,200 per sq ft of carpet area. Management expects a similar sales run rate in this project in the coming quarters.

«So, all of these contours or making India a product nation, these perspectives I think were very useful from the budget as well. Some of the clarity, the fleshing out of these medium-term plans should start becoming visible,» says Neelkanth Mishra, Chief Economist, Axis Bank. Let us just begin then with the overall outlook this time around with respect to the Budget and the finance minister clearly retaining the FY25 capex target at about 11.1 lakh crore rupees. How do you believe that one should be reading into the fine print? Neelkanth Mishra: This was the first budget of a new government, so there were two major asks from it or at least two major signals that we were all looking for. One was will the direction of the fiscal maths change? There was I think apprehension among some quarters that the government because of the election verdict would change its stance, so at least on the budget arithmetic it is very clear that the government sticks to the focus on macroeconomic stability on a very relentless focus on bringing down the cost of capital over the medium term and I think some of those changes will start becoming visible in the next year or two.

Bajaj Finance fell by 2.5% in early trade on Wednesday to a low of Rs 6,560 after the company reported a 14% year-on-year (YoY) jump in its net profit, which was slightly below the street’s estimates of Rs 3,947 crore. The net interest income (NII) for the reporting quarter advanced 25% YoY to Rs 8,365 crore from Rs 6,717 crore in the same quarter of last year. Company’s gross NPA (non-performing asset) and net NPA ratios stood at 0.86% and 0.38%, respectively at the end of the June quarter. The same was 0.87% and 0.31% at the end of last year's quarter.

₹1,000 crore venture fund for startups will further give a fillip to the country’s promising space sector, encouraging deeper public-private relationships. Changes to the Insolvency and Bankruptcy Code (IBC) are on the cards, with the setting up of additional tribunals to tackle pending cases and enhance the speed of the resolution process.

Former UK central banker and ex-Monetary Policy Committee member Sushil Wadhwani has urged the new Labour government to «take advantage of its large majority and push through this change as it would signal that they were serious about entrenching price stability».  Writing in a Centre for Economic Policy Research paper on Monday (22 July), Wadhwani suggested that goal independence could be «a game changer».  BoE chief economist Huw Pill dents hopes for a rate cut due to 'persistent' inflation Unlike other major central banks such as the Federal Reserve and the ECB, the BoE does not...

Google is dropping plans to eliminate cookies from its Chrome web browser, making a sudden U-turn on four years of work to phase out the technology that tracks users for ad purposes

Tesla’s second-quarter net income fell 45% compared with a year ago as the company’s global electric vehicle sales tumbled despite price cuts and low-interest financing

Indian Prime Minister Narendra Modi plans to raise spending to create more jobs and spur economic growth