The Finance Ministry Tuesday knowledgeable Parliament that the Centre has foregone ₹99,000 crore of company tax income in FY24 on account of tax incentives. The company tax income foregone in 2023-24 stood at ₹98,999 crore, adopted by ₹88,109 crore and ₹96,892 crore in 2022-23 and 2021-22, respectively, MoS for finance Pankaj Chaudhary stated in a written reply to Rajya Sabha. In 2020-21 and 2019-20, the whole company tax income foregone was ₹75,218 crore and ₹8,043 crore, respectively.
At $736.3 b, Exterior Debt Hits 19.1% of GDP
India's exterior debt stood at $736.3 billion as of March 2025, which was solely 19.1% of gross home product and 90.8% of foreign exchange reserves, MoS for finance Pankaj Chaudhary advised RS Tuesday. “These debt vulnerability indicators are benign and point out India's exterior debt stays sustainable and prudently managed,” he stated. He added that exterior debt of countries rises over time as it's related to rising funding and productiveness, which has additionally been the case with India. “India has managed its exterior debt prudently with the overarching goal of protecting the present account deficit inside sustainable limits.”
PM Internship Scheme: 22,500 Gives Accepted So Far
About 71,000 presents have been made by corporations to the youth beneath the second spherical of the PM Internship scheme as of July 17 and about 22,500 have been accepted by them, the Rajya Sabha was knowledgeable on Tuesday. In a written reply, minister of state for company affairs Harsh Malhotra stated about 327 corporations had posted over 118,000 internship alternatives towards over 4,55,000 purposes.
No GST Compensation Pending, Besides to Arunachal & Manipur
The Centre Tuesday knowledgeable Parliament that no quantity is pending for launch of the ultimate GST compensation to states and Union Territories besides Arunachal Pradesh and Manipur. Within the case of those two states the Centre has not acquired the certificates of Auditor Common, required to launch the cost, MoS for finance Pankaj Chaudhary advised Rajya Sabha in a written reply.₹72,275 cr Sovereign Gold Bonds Issued
The federal government issued sovereign gold bonds price ₹72,275 crore–equal of 146.96 tonnes of the dear metallic—between the scheme's launch in late 2015 and March 2025, minister of state for finance Pankaj Chaudhary stated Tuesday. In a written reply within the Rajya Sabha, the minister additionally stated the mopup beneath the gold monetisation scheme (via medium-and-long-term deposits) was to the tune of 37.81 tonnes throughout this era.
This means the gold bond scheme was way more common than the monetisation one. The federal government, nevertheless, would think about the price of garnering funds by way of such gold bonds earlier than issuing any contemporary tranche, he added. The federal government hasn't budgeted any mopup via such bonds this fiscal on account of excessive borrowing prices. “The latest international geopolitical unrest has impacted gold costs considerably, rising the price of borrowing via sovereign gold bonds,” Chaudhary added.
PLI Scheme Drives ₹1.76 L crore Investments
Precise funding of ₹1.76 lakh crore have been realised until March 2025 throughout 14 sectors lined beneath Manufacturing Linked Incentive (PLI) schemes, resulting in incremental manufacturing/gross sales of over ₹16.5 lakh crore and employment era of over 12 lakh. The manufacturing of mobiles in worth phrases has elevated virtually 146% to ₹5.25 lakh crore in 2024-25 from ₹2.13 lakh crore and their exports rose 775% to ₹2 lakh crore in FY25 from ₹22,870 crore in 2020-21. The prescribed drugs sector has witnessed cumulative gross sales of ₹2.66 lakh crore which incorporates exports of ₹1.7 lakh crore achieved within the first three years of the scheme. The scheme has contributed to India turning into a internet exporter of bulk medicine ( ₹2,280 crore) from a internet importer of ₹1,930 crore. “Various overseas corporations have established or expanded their operations in India beneath the PLI scheme. For instance, Apple, a worldwide smartphone firm, has shifted its suppliers to India viz. Foxconn, Wistron and Pegatron,” the commerce and business ministry advised Lok Sabha.
Over ₹35,105cr Tax Calls for Raised Below Black Cash Regulation
The finance ministry advised Parliament Tuesday that the federal government has raised tax and penalty calls for of over ₹35,105 crore from 1,021 assessments and filed 163 prosecution complaints until March 31 beneath the overseas black cash regulation. The federal government has recovered ₹338 crore beneath the Black Cash (Undisclosed Overseas Revenue and Belongings) and Imposition of Tax Act, 2015, in the direction of tax, penalty, curiosity between July 1, 2015 and March 31, 2025, MoS for finance Pankaj Chaudhary advised Rajya Sabha in a written reply.
Renewables Sector Creates Over 600,000 Jobs in 5 Years
An estimated 6.61 lakh jobs have been created within the final 5 years from FY21 to FY25 within the renewable power sector, minister of state for renewable power Shripad Yesso Naik stated in a written reply to the Rajya Sabha on Tuesday.
VGF Scheme Prolonged
The facility ministry has just lately prolonged the Viability Hole Funding (VGF) scheme for battery power storage techniques for added 30,000 MWh capability via the Energy System Improvement Fund, MoS for renewable power Shripad Yesso Naik knowledgeable the Rajya Sabha on Tuesday.
Motion Taken Towards 886 Entities
Enforcement motion has been taken towards 886 entities between April 2024 and June 2025 for fraudulent or unfair commerce practices referring to the inventory market, minister of state for finance Pankaj Chaudhary advised the Rajya Sabha Tuesday.
