The conman, currently in judicial custody for alleged multi-crore fraud cases being probed by the Enforcement Directorate, in a letter to Altman offered an investment of $1bn in OpenAI, and further extend it to another $2 bn over the next five years for operations in India.
The new income tax bill, which will replace the six decade old Income Tax act, 1961, has been drafted within six months and efforts have been made to simplify the language to make tax compliance easier for taxpayers and make it easier to read and understand.
Nasscom lauded Budget 2025-26 for fostering entrepreneurship, simplifying taxation, and government’s focus on business-friendly policies, while acknowledging its commitment to positioning India as a global leader.
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Sitharaman said that the new tax deduction slabs are introduced to “substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment.”
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Expectations of relief on income tax, particularly for lower middle class, is high after Prime Minister Narendra Modi invoked goddess of wealth for elevating poor and middle class.
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The uphill task before the Finance Minister and her team would be to bolster growth without sacrificing fiscal prudence. The government is also expected to stick to the fiscal glide path of reducing the fiscal deficit to below 4.5% of Gross Domestic Product (GDP) in FY26 amidst various headwinds.
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The report highlighted disparities in women's health caused by gaps in data, funding, guidelines, and delivery systems, and outlined five actions to address these imbalances to unlock greater health equity.
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