New Delhi: The GST Council has announced major changes to India’s Goods and Services Tax system, reducing the number of tax slabs to just two — 5 percent and 18 percent — effectively removing the earlier 12 percent and 28 percent slabs. While this move is expected to make many essential goods more affordable for...
Mumbai: Indian stock markets saw a strong surge on Thursday morning following the GST Council’s announcement of a major overhaul to the Goods and Services Tax (GST) system. The 30-share BSE Sensex jumped by 888.96 points to reach 81,456.67, while the 50-share NSE Nifty gained 265.7 points, closing at 24,980.75. The GST Council has simplified...
New Delhi: The Goods and Services Tax (GST) Council, in its 56th meeting, unveiled a revamped tax structure introducing simplified slabs of 5 percent and 18 percent, along with a 40 percent category for luxury and sin goods. The changes, effective from September 22, aim to boost consumption ahead of the festive season. However, for...
New Delhi: The Finance Ministry will commence the pre-budget exercise for the fiscal year 2026-27 from October 9, 2025, against a backdrop of geopolitical uncertainties and a steep 50 per cent US tariff on shipments from India. The upcoming budget is expected to focus on boosting domestic demand, generating employment, and steering the economy towards...
President Droupadi Murmu on Tuesday stressed that the empowerment of farmers and the rural economy must remain a key priority for the Indian banking sector. Speaking at the 120th foundation day celebrations of City Union Bank in Chennai, Tamil Nadu, she highlighted the critical role banks can play in transforming the nation’s economy. “From start-ups...
India’s economy expanded by 7.8 percent in the first quarter (April–June) of FY 2025-26, surpassing analysts’ expectations and signaling continued momentum despite global uncertainties and inflationary pressures. According to data released by the National Statistics Office (NSO) on Friday, real GDP, which accounts for inflation, rose to Rs 47.89 lakh crore from Rs 44.42 lakh...
New Delhi: The government has approved the appointment of former Reserve Bank of India (RBI) Governor Urjit Patel as Executive Director (ED) at the International Monetary Fund (IMF) for a three-year term. He will succeed K V Subramanian, whose tenure was cut short by six months, effective April 30, 2025. The Appointments Committee of the...
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the restructuring and extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme till March 31, 2030, with a total financial outlay of ₹7,332 crore. This decision aims to benefit 1.15 crore beneficiaries, including 50 lakh new street vendors, according to an...
Sanjeev Sanyal, a member of the Prime Minister’s Economic Advisory Council (EAC–PM), surprised many by showcasing a lighter, more cheerful side of his personality at the Swarajya Conclave 2025 in New Delhi, organized by Sangam Talks. During the event, Sanyal was seen dancing enthusiastically to devotional bhajans dedicated to Lord Ram. Known for its high-profile...
Reserve Bank of India Governor Sanjay Malhotra stated on Wednesday that the increase in US tariffs is unlikely to significantly affect the Indian economy unless retaliatory tariffs are imposed. During a press conference following the monetary policy announcement, the RBI Governor remarked, “The ongoing uncertainty regarding US tariffs may not have a substantial impact on...