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Uttar Pradesh is leading India's electric vehicle (EV) adoption, contributing 19% of the 20 lakh registered EVs in 2024, driven by government incentives and a growing market. However, the state faces a significant gap in charging infrastructure, with only 1,989 public stations for 58 lakh registered EVs, highlighting the urgent need for improved facilities to support this rapid growth. Meanwhile, Karnataka excels in both EV adoption and charging infrastructure, emphasizing the importance of efficient and fast charging solutions to enhance consumer convenience and accelerate the transition to electric mobility.
Google is developing a digital agri stack for India, utilizing satellite imagery to uniquely identify farms and enhance agricultural practices. This initiative aims to improve subsidy payments, farm insurance, and loans, addressing the needs of the 40% of the population engaged in agriculture. The project aligns with the Indian government's efforts to create a digital public infrastructure for the agriculture sector.
Bharat Electronics is set to announce its first interim dividend for FY25, while Finance Minister Nirmala Sitharaman emphasizes the need for India to enhance bilateral relations for trade and investment amid a shifting global landscape. She notes that multilateral institutions are losing effectiveness, making bilateral agreements increasingly vital for economic growth.
Barclays has called for effective personal income tax cuts in India's FY26 budget to stimulate consumption and growth while maintaining fiscal consolidation. The firm anticipates changes to the new tax regime and potential excise duty reductions for fuel, emphasizing the need for increased disposable income to boost demand. Barclays also expects the government to achieve a fiscal deficit target of 4.5% of GDP for FY26, alongside a roadmap for debt consolidation.
Barclays has urged the government to implement effective personal income tax cuts in the FY26 Budget to stimulate consumption and demand, while maintaining fiscal discipline. The proposed changes to tax slabs could enhance disposable income without significant fiscal impact, alongside potential reductions in fuel excise duties. Barclays anticipates a fiscal deficit of 4.5% of GDP for FY26 and emphasizes the need for a roadmap to reduce government debt to 60% of GDP post-pandemic.
Barclays urges the government to implement effective personal income tax cuts in the FY26 Budget to stimulate consumption and demand, while maintaining fiscal discipline. The firm anticipates changes to the new tax regime to enhance its attractiveness and suggests reducing excise duties on fuel to boost disposable income. Additionally, Barclays expects a modest increase in customs duty collections and emphasizes the need for a clear debt consolidation roadmap to achieve a general government debt-to-GDP ratio of 60% in the medium term.
Barclays has urged the government to implement effective personal income tax cuts in the FY26 Budget to stimulate consumption and demand, while maintaining fiscal discipline. The firm anticipates changes to the new tax regime to attract more taxpayers and expects a modest increase in customs duty collections amid global trade uncertainties. Additionally, Barclays is looking for a roadmap on debt consolidation to achieve a general government debt-to-GDP ratio of 60% in the medium term.
Barclays India advocates for personal income tax cuts in the 2025 budget to stimulate consumption and demand, suggesting adjustments to tax slabs could enhance taxpayer benefits without significant fiscal impact. The firm also recommends reducing excise duties on fuel to increase disposable income and curb inflation. Additionally, Barclays anticipates a focus on customs duty adjustments in response to global trade uncertainties and expects the government to meet its fiscal deficit targets while outlining a roadmap for debt consolidation.
The Sensex plummeted by over 1,000 points, closing at 76,330, driven by unfavorable global cues, significant FII sell-offs, and a historic low for the rupee against the dollar. Rising Brent crude prices and concerns over inflation further dampened market sentiment ahead of the upcoming Union Budget 2025.
The Income Tax Appellate Tribunal in Jodhpur has ruled that profits from crypto sales before April 1, 2022, are to be classified as long-term capital gains, allowing for lower tax rates and deductions. This decision clarifies the tax treatment of digital assets, aligning it with international standards and providing a precedent for taxpayers. The ruling emphasizes that cryptocurrencies are considered property under the Income Tax Act, benefiting early adopters who faced ambiguity in tax obligations.
Nirmala Sitharaman
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electric vehicle adoption surges in india amid infrastructure challenges and incentives
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