New Delhi, March 23 (IANS) India is set to roll out the new Income Tax Act, 2025 from April 1, 2026, but taxpayers need not worry about filing this year as returns can be prepared and filed under the existing Income Tax Act, 1961, officials and tax experts said, ensuring a smooth, year‑wise transition.The current law will continue to apply for this filing cycle, they said, adding that the government is adopting a clear, phased approach.Income for FY26 (April 1, 2025–March 31, 2026) will be a…
Latest fiscal year News & Updates
New Delhi, March 19 (IANS) India’s Infrastructure Investment Trusts (InvITs) are expected to see the industry’s assets under management grow by about Rs 1 lakh crore in FY26, a report said on Thursday.The report from CareEdge Ratings said AUM of these trusts doubled from about Rs 3 lakh crore in FY22 to roughly Rs 6.25 lakh crore by FY25.Combined leverage or total external debt to enterprise value is expected to remain at around 49 per cent in FY26, driven by higher valuations from equity ra…
Mumbai, Feb 16 (IANS) Currency in circulation (CiC) in India reached an all‑time high of about Rs 40 lakh crore by January 2026 end, with year‑on‑year growth accelerating to 11.1 per cent from 5.3 per cent last year, a report said on Monday.The report from SBI Research said on an incremental basis (YTD), the currency with public (CWP), accounting for 97.6 per cent of the circulated currency, reached an all time high of around Rs 39 lakh crore. Meanwhile, CiC surged Rs 2.76 lakh crore or 3….
New Delhi, Feb 13 (IANS) The Rajya Sabha was adjourned on Friday till March 9, marking the conclusion of the first phase of the on-going Budget Session of Parliament. This adjournment follows a similar move in the Lok Sabha earlier in the day, as both Houses entered a three-week recess.Twenty seven permitted special mentions by members who were present were deemed to have been laid on the table of the House. These special mentions, a procedural mechanism allowing lawmakers to highlight urgent pu…
New Delhi, Jan 29 (IANS) Pakistan’s finance ministry has admitted that “public debt dynamics remained a key challenge” during the last fiscal year, as the increase in total public debt was “driven mainly by higher interest payments and exchange rate movements,” according to a report in the Karachi-headquartered Express Tribune newspaper.The debt burden of every Pakistani increased by 13 per cent to Rs 333,000 (Pakistani rupee) in the last financial year, while public debt remained a “c…
New Delhi, Jan 22 (IANS) The overnight signs of a climbdown in Greenland-related tensions will provide relief to market sentiments and rupee volatility is likely to persist in the near term but depreciation is expected to be more gradual than the recent sharp moves, a report showed on Thursday.The rupee rebounded from its all-time low levels to gain 15 paise at 91.50 against the US dollar in early trade on Thursday.According to Radhika Rao, Executive Director and Senior Economist at DBS Bank, th…
Washington, Jan 16 (IANS) The International Monetary Fund (IMF) signaled that it is likely to upgrade India’s growth forecast after the country’s economy expanded more strongly than expected in the latest quarter, reaffirming India’s role as a key driver of global growth.Responding to a question on India’s growth outlook for 2025, IMF Communications Department Director Julie Kozack said India continues to anchor global expansion even as uncertainty clouds the broader international econom…
Washington, Jan 13 (IANS) India’s economy is projected to remain among the world’s fastest-growing major economies, with growth estimated at 7.2 per cent in FY2025-26, supported by strong domestic demand despite rising global trade tensions, the World Bank said on Tuesday.In its latest Global Economic Prospects report, the World Bank said India’s resilience helped lift overall growth in South Asia in 2025, offsetting the impact of heightened policy uncertainty and global trade frictions.Grow…
New Delhi, Jan 8 (IANS) A United Nations (UN) report released on Thursday projects India’s GDP growth at a robust 6.6 per cent even as it expects the global economic growth to slow down to 2.7 per cent during 2026, due to geopolitical risks and policy uncertainty.”Strong demand in major markets may partially offset the US tariff hike impact on India,” the report states.Although the UN report has lowered the estimate for India’s growth rate from 7.4 per cent earlier, it is in tune with the IM…
New Delhi, Jan 8 (IANS) India’s economic growth is expected to outpace the National Statistical Office’s (NSO) first advance estimate, reflecting “buoyant high‑frequency data since September 2025 led by policy impetus,” a new report has said.The report from Morgan Stanley estimated real GDP growth at 7.6 per cent year‑on‑year for FY26 — above the NSO’s first advance estimate which pegged real GDP growth at 7.4 per cent YoY.The consensus estimate for FY26 growth is at 7.5 per cent an…