📅 Fiscal Deficit Woes & 2025 Predictions: Jan 1st Edition

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☕ Chai Shots

• India’s Fiscal Deficit Widens 📉: India’s fiscal deficit for April-November hit ₹8.47 lakh crore, reaching 52.5% of the annual target. This rise is attributed to slowing growth and rising government expenditure.

  What Does This Mean For Me?
  The widening deficit puts pressure on the government to manage spending while boosting revenue through taxes or disinvestment. It could also limit fiscal space for big-ticket announcements in the upcoming Budget 2025. For common citizens, it may lead to cautious spending on public welfare schemes or an increased focus on tax compliance.

• Vivad Se Vishwas Deadline Extended: The Income Tax Department extended the Vivad Se Vishwas Scheme deadline to January 31, 2025, offering more time for taxpayers to settle ongoing disputes under the tax resolution scheme without facing penalties.

• Blinkit Lets You Delete Order History: Over one lakh orders have already been erased with Blinkit’s new privacy feature. Users can now delete their order history with just a tap!

• Thomas Cook Cyberattack: Thomas Cook India faced a cyberattack that disrupted its IT systems, temporarily shutting down the network. Recovery and investigation efforts are underway.