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The Latest Breaking News from Finance

Slower Q2 growth close to ministry's earlier estimate

The slower economic growth in the second quarter was close to the Finance Ministry's previous estimate and confirmed the outlook anticipated by the economic team, particularly regarding the impact of the Middle East conflict, which began in late March and affected the economy in waves throughout the second quarter, says…

Tokenmaxxing: Why AI consumption needs control

Tokenmaxxing: Why AI consumption needs control

Finance teams aren't trying to stop AI investment – they want to maximise its impact

Banking leaders urged to shape reforms as government readies panel for Viksit Bharat 2047

Banking leaders urged to shape reforms as government readies panel for Viksit Bharat 2047

Finance Minister Nirmala Sitharaman said the government will soon set up a high-powered committee to chart the banking sector's role in building a "Viksit Bharat", with the panel set to draw on ideas and research emerging from two days of intensive discussions with banking sector stakeholders. Calling India's banks well…

The Economic Times

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Big Bull's magic: How Rakesh Jhunjhunwala turned Rs 1 crore into Rs 20 crore overnight after the 1989 budget

Rakesh Jhunjhunwala, the legendary “Big Bull” of Dalal Street, built his reputation through conviction and contrarian investing. A standout example came in 1989, when widespread fears of an anti-business Union Budget triggered panic selling. At just 29, Jhunjhunwala bet against the prevailing sentiment, believing VP Singh’s government would take a…

The Economic Times

Deputy PM maps out plans for growth

Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas has urged greater investment in basic infrastructure to propel Thailand into a new economic era.

Independence Day 2026: A 1968 gold ban that turned every Indian household into an underground vault

In 1968, the Gold (Control) Act restricted gold ownership and capped jewellery purity at 14 karats to curb imports and conserve foreign exchange. Instead of reducing demand, the law pushed gold underground, with households hiding jewellery and smugglers building a parallel market.

The Economic Times

BRICS nations need stronger frameworks to mobilise private capital at scale: Nirmala Sitharaman

Nirmala Sitharaman urged BRICS nations to foster stability for attracting private capital. Multilateral development banks can de-risk investments and boost project bankability. India has strengthened its infrastructure through public spending and reforms. Public investment acts as a catalyst for private sector participation. Future development finance relies on partnerships between governments…

The Economic Times

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EV bus conversions to be subsidised by public loans

EV bus conversions to be subsidised by public loans

The Finance Ministry is using funds available under the emergency borrowing decree to subsidise the replacement of internal combustion engine (ICE) public service vehicles with electric vehicles (EVs).

Homeowners Sue Mamdani Over NYC's Chaotic New Tax on Luxury Second Homes — And Two of Them Are Family of a Political Rival

Homeowners Sue Mamdani Over NYC's Chaotic New Tax on Luxury Second Homes — And Two of Them Are Family of a Political Rival

Three New York City homeowners are suing Mayor Zohran Mamdani's administration over the rollout of a new tax on luxury second homes, arguing the city's public database and mailed notices swept up thousands of full-time residents who don't actually owe the surcharge. Two of the three plaintiffs are the wife…

Communists in country are total cowards: FM Sitharaman

Communists in country are total cowards: FM Sitharaman

Finance Minister Nirmala Sitharaman labeled communists as "cowards" in the Rajya Sabha. She accused CPI(M) member John Brittas of spreading confusion regarding UPI payment fees. Brittas alleged US pressure influenced the government's decision on charging UPI fees. Sitharaman stated that communists lack the courage to face facts and listen. The…

The Economic Times

Parliament clears taxation bill, Sitharaman says UPI transactions to remain free

Parliament clears taxation bill, Sitharaman says UPI transactions to remain free

Parliament has passed the Taxation and other Laws (Amendment) Bill. Finance Minister Nirmala Sitharaman confirmed UPI will remain free for consumers. The legislation removes the linkage between payment systems and income tax. It also provides legal backing to modify zero-MDR frameworks for digital transactions. The bill aims to attract foreign…

The Economic Times

No proposal under consideration for restoration of Old Pension Scheme: MoS for Finance Pankaj Chaudhary

No proposal under consideration for restoration of Old Pension Scheme: MoS for Finance Pankaj Chaudhary

The government has no plans to restore the Old Pension Scheme due to its fiscal unsustainability. Several state governments have requested a reversion from the National Pension System to the Old Pension Scheme. The Unified Pension Scheme offers an inflation-linked defined benefit option for central government employees. This new scheme…

The Economic Times

Opposition stages walkout in Rajya Sabha

Opposition stages walkout in Rajya Sabha

Opposition members staged a walkout from the Rajya Sabha on Monday. They were protesting after their attempts to raise issues were disallowed by the Chair. Finance Minister Nirmala Sitharaman moved The Bankers' Books Evidence Bill, 2026, for discussion. The Bill seeks to update legal frameworks for bank records in the…

The Economic Times

There's a new US ambassador coming to town

There's a new US ambassador coming to town

Meanwhile, what's all this buzz around The Lodge?

The Canberra Times

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Tax breaks to lure carmakers

The Finance Ministry plans to introduce tax incentives by September to encourage foreign carmakers to establish production facilities in Thailand and increase the use of locally made components.

The Economic Times

Tamil Nadu Assembly passes resolution batting for 'fair tax devolution' from Centre

The Tamil Nadu Assembly unanimously passed a resolution seeking fair tax devolution. This resolution aligns with constitutional principles of fiscal and cooperative federalism. Finance Minister N Marie Wilson presented the resolution to the Union government. The state emphasised its economic contribution and development needs.

The Economic Times

FM says MDR on UPI applies to merchants, not customers; fintechs, banks will invest more on security

Finance Minister Nirmala Sitharaman stated Merchant Discount Rate applies to merchants, not customers. This charge will support banks and fintech companies in infrastructure investment. A committee will decide on MDR after Parliament passes a taxation bill. The bill provides legal backing to modify the zero-MDR framework for digital payments. This…

The Canberra Times

'Pattern of secrecy': Libs call for audit on federal infrastructure spend in ACT

The call follows corruption findings involving the CFMEU.

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The Economic Times

Taxation laws amendment bill tabled in Lok Sabha: What the new tax bill changes for foreign investors

Finance Minister Nirmala Sitharaman introduced the Taxation and Other Laws (Amendment) Bill, 2026, proposing simpler rules for offshore investment funds managed from India to claim tax exemptions. The bill removes several eligibility conditions, including investor and corpus limits, while offering tax incentives for electronics, diamond trade and foreign investors.

The Economic Times

UP government presents first supplementary Budget worth Rs 59,019.54 crore amid Samajwadi Party protest

Uttar Pradesh tabled its first supplementary Budget for 2026-27, seeking additional expenditure of over Rs 59,000 crore. Proceedings were disrupted by Samajwadi Party members protesting alleged theft at the Ram temple. The largest allocations are proposed for heavy industries, rural development, and the energy sector. Finance Minister Suresh Kumar Khanna…

New savings programme expected in September

The Ministry of Finance is scheduled to roll out the Thailand Individual Savings Account (TISA) by September to further promote household savings following the success of the government retail bond programme dubbed “Aom Plus” (Savings Plus).

The Economic Times

Taxation laws amendment bill: Government proposes simplified exemption framework for offshore funds

A bill will soon simplify offshore investment fund rules. This aims to attract more foreign capital into India. Tax exemptions will be offered for global income of funds. Foreign companies storing electronic components will also get exemptions. These measures will boost India's position as an investment hub.

Scott Bessent Says America 'Delivers' for 'Trusted Partners' as US, Japan Confirm Joint Yen Intervention: Economist Says Goal Is to 'Buy Time'

The U.S. Treasury joined Japan’s Ministry of Finance in a coordinated yen-buying operation, with officials from both countries pledging to intervene again if disorderly market conditions continue.

The Canberra Times

Meet the federal public sector's most influential people

Part 1: the public servants who are steering the ship.

The Economic Times

Indian Statistical Institute Bill, Bankers' Books Evidence Bill likely to be introduced in Lok Sabha on Monday

The government plans to advance its legislative agenda during the monsoon session. Two bills are scheduled for introduction in the Lok Sabha next week. The Finance Minister will present Demands for Excess Grants for the previous year. The Registration of Births and Deaths (Amendment) Bill will also be presented. Parliament's…

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