Business

Union Budget: Citizens Breathe Easier with Income Tax Exemption Threshold Raised to Rs 12 Lakh

Published

2 years ago

February 3, 2025

People expressed their relief and appreciation for the budget announcement made by Union Finance Minister Nirmala Sitharaman on Saturday, particularly the increase in the personal income tax exemption threshold to Rs 12 lakh. This change has been highlighted as one of the most significant aspects of the budget for 2025.

In a conversation with the newspaper, Nikhil Kumar, a corporate professional, shared that the raised tax threshold has alleviated his concerns, as he previously fell within the taxable income bracket. He noted that this adjustment will allow him to retain more of his earnings and encourage savings.

Similarly, a young professional commented that with his income now exempt from taxes, he feels free to spend more on personal interests. The threshold for salaried taxpayers will stand at Rs 12.75 lakh, factoring in a standard deduction of Rs 75,000.

An elderly man, who preferred to remain unnamed, expressed his approval of the government’s decision, highlighting the rising costs of living due to new technologies and expenses. With the increased tax limit, he believes individuals will find themselves with greater purchasing power.

According to the government, the new tax structure is designed to significantly reduce the tax burden on the middle class, enabling them to retain more disposable income, thus fostering household consumption, savings, and investments.

Additionally, a representative from the private sector noted the government’s initiative to exempt 36 life-saving drugs and medicines from Basic Customs Duty (BCD), which will particularly benefit individuals with chronic medical conditions that necessitate ongoing treatment. Furthermore, six life-saving medications will now be subject to a concessional customs duty of 5 percent, while specified drugs under Patient Assistance Programs will be fully exempt from BCD. The government has also added 37 additional medicines and introduced 13 new patient assistance programs.

The Finance Ministry has introduced an Urban Challenge Fund worth Rs 1 lakh crore aimed at implementing initiatives for ‘Cities as Growth Hubs,’ ‘Creative Redevelopment of Cities,’ and ‘Water and Sanitation.’ An allocation of Rs 10,000 crore is proposed for the fiscal year 2025-26.

When asked about this, a woman working in the IT sector mentioned that given the current challenges posed by a growing metropolitan population and the development of suburban areas, such provisions will be beneficial. Proper maintenance and infrastructure of cities are crucial for enhancing overall quality of life.

Business

RBI Ends Special Dollar-Rupee Swap Window Early Amid Strong Demand

Published

2 months ago

August 15, 2026

Namma Kudla

Mumbai: The Reserve Bank of India (RBI) has decided to close its special forex swap facility for fresh FCNR deposits early.

The facility will now close on August 31, the RBI said on Friday.

The central bank said the decision was taken after receiving an encouraging response. The facility has attracted $52.3 billion through fresh foreign currency deposits.

Banks can continue to undertake swaps with the RBI against FCNR deposits raised under the facility until September 11.

Meanwhile, the schemes for External Commercial Borrowings and Overseas Foreign Currency Borrowings will remain open until December 31, 2026.

The RBI launched the special US dollar-rupee forex swap facility on June 8. It allowed banks to raise fresh three-to-five-year FCNR deposits.

Banks could then swap these deposits with the RBI at a concessional rate. The facility effectively covered the entire hedging cost for banks.

The strong response to the scheme led the RBI to bring the facility to an early close.

Business

Leksa Lighting Technologies Named among India’s Top 100 MSMEs

Published

2 months ago

August 11, 2026

Namma Kudla

Moodbidri: A dream that began in the rural area of Niddodi in Moodbidri has now gained national recognition. Leksa Lighting Technologies Pvt. Ltd., founded by Ronald Sylvan D’Souza, has been recognised as one of India’s Top 100 MSME companies.

The prestigious national recognition was presented by the MSME Udyog Foundation at a ceremony held in New Delhi on August 8, 2026.

Ronald Sylvan D’Souza started his entrepreneurial journey from a humble background. Through hard work, discipline and continuous efforts, he built Leksa Lighting Technologies into a recognised lighting technology company.

The company has focused on quality, technological innovation and indigenous manufacturing. Research and development have also played an important role in its growth.

Leksa Lighting has adopted Japanese work practices to improve its manufacturing and operational standards. The company has also worked towards developing quality lighting solutions in India.

What began as a dream in rural Karnataka has now reached different parts of the country. The company is also making its presence felt in international markets.

Speaking about the recognition, Ronald Sylvan D’Souza said the award was not an individual achievement. He credited the entire Leksa team, customers, business partners, family members and everyone who supported the company.

He said he was proud and happy to see a dream that began in Niddodi and Moodbidri receive recognition at the national level.

The achievement highlights the potential of rural entrepreneurs. It also shows that determination, discipline and consistent hard work can help a business from a rural area achieve success on a national platform.

Leksa Lighting Technologies’ journey stands as an example of how a local dream can grow into a nationally recognised enterprise.

Business

Vehicle Prices to Increase from August 1

Published

2 months ago

July 28, 2026

Namma Kudla

New Delhi: Buying a new vehicle is set to become more expensive from August 1, adding to the financial burden on consumers. Several automobile manufacturers have announced a price hike due to rising production costs.

The increase is mainly driven by higher prices of raw materials and components. The cost of steel, aluminium, rubber, plastic, electronic chips, batteries, and spare parts has gone up in recent months. Global market changes caused by ongoing conflicts and inflation have also increased manufacturing expenses.

As a result, vehicle companies have decided to raise the prices of new models. Customers planning to purchase a new vehicle are likely to pay more from August 1.

The price hike is also expected to affect the travel and transport industry. Travel agencies and tour operators say buying new cars, SUVs, and other passenger vehicles will become more expensive.

Operators have already been facing higher expenses due to increased fuel prices and toll charges. With the additional cost of new vehicles, many travel agencies are preparing to revise their rental charges.

The Karnataka Travels Association has indicated that travel fares may be increased to manage the rising operating costs. Passengers may have to pay more for each trip if the revised rates are implemented.

Meanwhile, several automobile manufacturers have already published details of the upcoming price increase on their official websites. Consumers planning to buy a new vehicle may consider making their purchase before the revised prices come into effect on August 1.