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    NEWS HIGHLIGHTS
    NCP (SP) slams Fadnavis govt over supplementary demands, cites growing financial burden
    Maharashtra govt tables supplementary demands of Rs 57,509 cr in assembly
    Pak trade bodies oppose govt's decision to grant sweeping powers to revenue board
    Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, chaired the annual review meeting with MDs and CEOs of Public Sector Banks ...
    Union Minister for Finance and Corporate Affairs chairs Conclave with Principal Chief Commissioners of CBDT, in New Delhi
    Ladakh delegations meet Sitharaman, demands special relief for tourism sector
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    June 30, 2025
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    Language policy withdrawal framed as protecting regional language unity after protest pressure and political objections.
    Withdrawal of state administrative orders on language instruction occurred amid anticipated joint protests, with political leaders characterising the move as driven by opposition and civil society pressure and necessary to preserve regional language unity. Separately, the state tabled supplementary budget demands for funding schemes; authorities completed disposal of industrial hazardous waste; law enforcement recorded an alleged sexual assault and robbery, a bomb hoax inquiry, and conducted security measures during the burial of a former banned-organisation affiliate.
    June 30, 2025
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    Fiscal imbalance risks welfare spending as supplementary demands widen the state's revenue shortfall and increase borrowing pressure.
    Supplementary budgetary demands significantly increase the state's projected revenue shortfall, and critics allege a recurring pattern of unspent allocations for Scheduled Caste, Scheduled Tribe and Other Backward Class welfare schemes. The government's additional borrowing and unsustainable financial commitments risk timely payment of obligations and reduction of welfare financing, while the routine practice of placing supplementary demands is said to mask divergence between budgetary promises and actual expenditure.
    June 30, 2025
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    Supplementary budget demands seek additional allocations for infrastructure, health, social welfare and cooperative support measures.
    The state government tabled supplementary demands to obtain additional funds beyond the budget, reallocating resources to mandatory expenditures, planned state schemes, and centrally-sponsored programmes for sectors including infrastructure, public health, social welfare, education scholarships, finance commission grants, refunds to local bodies, and margin money loans to cooperative sugar factories under a national cooperative assistance mechanism.
    June 29, 2025
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    Revenue board sweeping powers threaten business operations and liquidity, prompting industry opposition and relocation warnings.
    Trade bodies oppose Finance Bill provisions granting sweeping powers to the Federal Board of Revenue-including freezing bank accounts, seizing funds and arresting taxpayers on suspicion-and urge inclusion of business anomalies committee feedback. They warn these enforcement authorities, combined with existing liquidity strains from energy shortages and delayed tax refunds, risk trade and investment flight and serious consequences for industrial and export sectors.
    June 28, 2025
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    Financial inclusion drive urges banks to intensify outreach and implement the new MSME credit model to expand lending.
    Banks were directed to prioritise financial strength, asset quality, capital adequacy and deposit mobilisation while maintaining disciplined underwriting and risk management. PSBs must intensify a three month financial inclusion saturation campaign with focused KYC/re KYC and unclaimed deposit outreach, scale up targeted credit schemes and design agri credit products for low productivity districts. Strengthening implementation of the New Credit Assessment Model for MSMEs to broaden access to capital and expedite credit flow was flagged as an immediate priority, alongside staffing, branch expansion, and enhancements in digital services and grievance redressal.
    June 24, 2025
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    Taxpayer grievance redressal must be expedited and departmental appeals below revised thresholds withdrawn to reduce litigation backlog.
    The Finance Minister directed the CBDT and Principal Chief Commissioners to prioritise timely grievance redressal and refund processing, to withdraw departmental appeals below revised monetary thresholds within three months, and to accelerate completion of pending appeals before faceless appellate authorities. She required region-wise performance analysis of grievance disposal, Orders Giving Effect, and rectifications, closer monitoring of CPGRAMS and e-Nivaran with time-bound disposal, adoption of best practices across regions, simplification of compliance processes, and preparedness for awareness and capacity-building upon passage of the new Income Tax Bill.
    June 15, 2025
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    Tourism relief measures sought to designate tourism as distressed and secure loan rescheduling plus budget realignment for Ladakh.
    Delegations from Ladakh sought a special relief package for tourism-including recognition of tourism as a distressed sector, loan rescheduling, moratorium extensions-and requested that Budget Estimates and Revised Estimates be finalised using expenditure up to December to reflect the region's seasonal spending; they also sought restoration of Ladakh's budget allocation, enhanced local sanctioning powers, a dedicated Regional Rural Bank, a Ladakh Development Finance Corporation, expedited apportionment of regional bank assets and staff, and an RBI office in Leh.

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