The Latest Breaking News from Budget

TRADE councils in Scotland are set to stage demonstrations against council cuts in the run up to the Scottish Budget.

Mayor Brandon Johnson’s first budget is expected to sail through the Chicago City Council on Wednesday. It’s balanced in part with $786.5 million in one-time revenues. The search for new revenue sources has been punted to a Council subcommittee.

India's direct tax collections rose 21.8%, surpassing over half of Budget estimates. Refunds of up to ₹5,000 not restricted. Tax demands from past being raised, some due to tech shift. 7.27 cr returns filed, 7.15 cr verified. Gross collections up 18%, PIT revenues 29.5%. Net revenues 31.85%.

The government has signalled it will spend cautiously – despite expecting a surplus of 10 billion euro this year.

TN's revenue receipts up 5.47% to ₹92,967.33 cr till Aug. SOTR increased to ₹59,616.01 cr, revenue deficit at ₹17,614.98 cr. Assembly session to commence on Monday, with focus on Kalaignar Mahalir Urimai Thittam & borrowings of ₹18,000 cr in Q3.

Federation of Sabari Railway Action Council urges State govt. to extend Angamaly-Sabarimala rail line from Erumely to Balaramapuram, Thiruvananthapuram. New line to link industrial & tourism hubs, transport 850 truckloads of goods daily & bring tourist destinations on rail map. Railways have done feasibility survey for extension. ₹100 cr allocated…

City Voices: Rather than a huge shift to de-risk by locking in the higher yields on offer this year, LDI schemes have been more focused on getting their houses in order

The Labour Party has released its fiscal plan showing how its election promises and the ongoing cost pressures in the public sector would fit within Budget allowances.

The Institute for Fiscal Studies said the measures announced in the Budget fail to prioritise inequalities in children’s development.