Personal tax reforms, raised exemptions and more expected in 2025 budget: EY

NEW DELHI: Taxpayers and businesses are eagerly waiting for new reforms in the upcoming Union budget that will propel India’s economic trajectory. All eyes are on the key announcements and the government’s forward-looking economic guidance for PM Modi’s third tenure.EY India recently suggested that the budget 2025 should focus on increasing capex, reducing the debt-to-GDP […]

Economy

Explainer: What you need to know about the Digital Personal Data Protection Act 2025

The government floated draft Digital Personal Data Protection (DPDP) Rules 2025 last week for public consultation till February 18. Here is an explainer of the draft DPDP Rules 2025: What are the draft Digital Personal Data Protection Rules 2025?   The Digital Personal Data Protection (DPDP) Rules 2025, drafted by the government, provide for the manner […]

Draft Digital Personal Data Protection Rules, 2025, prioritises India’s commitment to citizen-centric governance: PM Modi, ET LegalWorld

Prime Minister Narendra Modi has stated that the Draft Digital Personal Data Protection Rules, 2025, prioritises India’s commitment to citizen-centric governance. Responding to the post by Union Minister Ashwini Vaishnaw, Modi wrote, “Union Minister, @AshwiniVaishnaw explains how the Draft Digital Personal Data Protection Rules, 2025, prioritises India’s commitment to citizen-centric governance. The rules aim to […]

Govt notifies draft rules for Digital Personal Data Protection Act, ET LegalWorld

Highlights The Ministry of Electronics and Information Technology of the Union Government has published draft rules for the Digital Personal Data Protection Act, 2023, inviting stakeholders to provide feedback by February 18, 2025. The rules mandate that Data Fiduciaries notify individuals 48 hours in advance before erasing their data, with a retention period of up […]

Govt releases draft Digital Personal Data Protection Rules without any penal clause, ET LegalWorld

The government has released the long-awaited draft of Digital Personal Data Protection Rules, which do not mention any penal action for violations. The draft rules have been issued after Parliament approved the Digital Data Protection Bill 2023 about 14 months back. “Draft of rules proposed to be made by the central government in exercise of […]

New RBI norms make it tough to get multiple personal loans

MUMBAI: Retail borrowers will find it difficult to over-leverage by obtaining multiple personal loans in the new year. A new norm, that requires lenders to update credit bureau records within 15 days instead of one month earlier, is kicking in. With records being updated every two weeks, fewer borrowers will qualify for multiple loans.The directive […]

Economy

Pre-Budget parley: Industry pushes personal income tax cuts, fuel price relief and MSME support

Corporate India on Monday urged Finance Minister Nirmala Sitharaman to use the upcoming Budget to tackle the ongoing demand slowdown and pave the way for a consumption boost to propel economic growth.  Their package of submissions for the fiscal interventions in the budget includes both personal and corporate tax rate cuts, reduction in fuel prices […]

Economy

CII bats for personal income tax rate tweaks, excise duty cuts on fuels to boost consumption 

The Confederation of Indian Industry (CII) has urged the government to introduce key measures in the 2025-26 Budget to stimulate consumption in the economy, which had entered into a patch of growth slowdown in the second quarter. The economy recorded seven quarter low growth of 5.4 per cent in September quarter. The apex industry chamber proposed […]