Income Tax Department FAQs on Union Budget 2026-27 Proposals The Income Tax Department has released a detailed set of FAQs to explain the direct tax reforms proposed in the Union Budget 2026-27. These changes focus on simplifying compliance, reducing litigation, and promoting a trust-based tax ecosystem. 1. Key Reliefs & Simplifications Motor Vehicle Accident Claims:… Read More »

INDIA’S REAL GDP ESTIMATED TO GROW BY 7.4% IN FY 2025–26, WITH NOMINAL GDP GROWTH AT 8% IN THE BUDGET FOR FY 2026-27, NOMINAL GDP IS PROJECTED TO GROW BY 10.0% OVER THE FIRST ADVANCE ESTIMATES OF FY 2025-26 SERVICE SECTOR REMAINS PRIMARY DRIVER OF GROWTH, EXPANDING BY 9.1% TOTAL RESOURCES SHARED WITH STATES THROUGH… Read More »

GOVERNMENT ACCEPTS 16TH FINANCE COMMISSION’S RECOMMENDATION TO RETAIN VERTICAL SHARE OF DEVOLUTION AT 41 PERCENT ₹1.4 lakh cr.  to BE GIVEN TO States as Finance Commission Grants for FY 2026-27 The Government has accepted the recommendation of the 16th Finance Commission to retain the vertical share of devolution at 41 percent. Presenting the Union Budget 2026-27… Read More »

DIVYANG KAUSHAL YOJANA TO PROVIDE CUSTOMIZED TRAINING TO DIVYANGJAN IN IT, AVGC AND HOSPITALITY SECTORS DIVYANG SAHARA YOJANA TO SET UP ASSISTIVE TECHNOLOGY MART AS MODERN RETAIL-STYLE CENTRES FOR DIVYANGJANS The Union Minster of Finance and Corporate Affairs Smt Nirmala Sitharaman, while presenting the Union Budget 2026-2027 in the Parliament today said that our vision… Read More »

INDIA ON TRACK TO REACH DEBT-TO-GDP RATIO OF 50±1 PERCENT BY 2030-31 FISCAL DEFICIT TO REMAIN AT4.4 PERCENT OF GDP AS PER RE 2025-26 FISCAL DEFICIT ESTIMATED TO BE 4.3 PERCENT OF GDP IN BE 2026-27 CAPITAL EXPENDITURE STANDS AT 11 LAKH CRORE OF TOTAL EXPENDITURE OF 49.6 LAKH CRORE AS PER RE 2025-26 CENTRE’S… Read More »

UNION BUDGET 2026-27 PROPOSES DEDICATED INITIATIVE FOR SPORTS GOODS TO PROMOTE MANUFACTURING, RESEARCH AND INNOVATION INITIATIVE BUILDS ON INDIA’S POTENTIAL TO EMERGE AS A GLOBAL HUB FOR HIGH QUALITY, AFFORDABLE SPORTS GOODS KHELO INDIA MISSION ANNOUNCED TO TRANSFORM THE SPORTS SECTOR OVER NEXT DECADE KHELO INDIA MISSION TO TAKE FORWARD THE SYSTEMATIC NURTURING OF SPORTS… Read More »

‘HIGH LEVEL COMMITTEE ON BANKING FOR VIKSIT BHARAT’ TO ALIGN FINANCIAL SECTOR WITH INDIA’S NEXT PHASE OF GROWTH: UNION BUDGET 2026-27 GOVERNMENT TO RESTRUCTURE THE POWER FINANCE CORPORATION AND RURAL ELECTRIFICATION CORPORATION TO ACHIEVE SCALE AND IMPROVE EFFICIENCY UNION BUDGET PROPOSES A MARKET MAKING FRAMEWORK WITH SUITABLE ACCESS TO FUNDS AND DERIVATIVES ON CORPORATE BOND… Read More »

UNION BUDGET 2026-27 PROPOSES A SCHEME TO SUPPORT STATES IN ESTABLISHING FIVE REGIONAL MEDICAL HUBS TO PROMOTE MEDICAL TOURISM NATIONAL INSTITUTE OF HOSPITALITY PROPOSED TO BE SET UP BY UPGRADING THE EXISTING NATIONAL COUNCIL FOR HOTEL MANAGEMENT AND CATERING TECHNOLOGY PILOT SCHEME PROPOSED  FOR UPSKILLING 10,000 GUIDES IN 20 ICONIC TOURIST SITES THROUGH A STANDARDIZED,… Read More »