BUSINESS
Govt to notify all rules under new income tax law by December 31
Administrative groundwork for the new tax system accelerates as Budget preparations near; government aims to finalise around 400 rules and 180 forms for a leaner framework
BUSINESS
Centre considering new classification code to improve tracking of India's growing fintech space
At present, there is no central database of fintech companies in India. The RBI only tracks entities it directly licenses, while MCA does not have a separate classification at the time of company registration.
BUSINESS
Govt draws up mega bank merger plan; smaller lenders to be clubbed with big banks by FY27
Record of discussion on merger proposal to be examined by Cabinet and PMO
BUSINESS
India’s fintech revolution has expanded access to credit: FM Sitharaman
Finance Minister Nirmala Sitharaman highlighted fintech’s role in financial inclusion and digitising credit access, while also emphasising India’s self-funded green transition amid global energy challenges.
BUSINESS
GST 2.0 drives festive car sales, but food and medicine price cuts remain elusive: Survey
Uneven pass-through of GST rate cuts in essential goods segments
BUSINESS
Andhra Pradesh banks on cheap renewable energy and river-linking to power data centre push: Nara Lokesh
Nara Lokesh told Moneycontrol in an interview that the state is building a dedicated renewable energy ecosystem to meet rising power and water demand from data centres, instead of imposing restrictions like some global peers.
BUSINESS
Andhra govt has set up WhatsApp groups for every investment project to fast-track clearances: Nara Lokesh
WhatsApp groups with company chairmen, ministers and officials have been institutionalised to ensure weekly project reviews and real-time coordination, as part of the state’s ‘Naidu 4.0’ governance model.
BUSINESS
ICAI document to tighten corporate fraud detection norms by Nov-end; may propose Companies Act changes
The research paper, expected by end-November, will focus on early detection of corporate and IPO-related frauds, fix accountability gaps, and plug legal loopholes, drawing on analysis of 64 SEBI orders to identify systemic red flags.
BUSINESS
Net direct tax revenue jumps 6.3% to Rs 11.89 lakh crore till Oct 12
Non-corporate tax, which includes individuals and HUFs, mop-up so far this fiscal stood at about Rs 6.55 lakh crore, up from over Rs 5.93 lakh crore in the same period of the last year
BUSINESS
Govt likely to amend companies act, tender norms to help Indian audit firms take on Big 4
Relaxing composition norms, tender reforms and capital support measures are among the changes that the ministry of corporate affairs is planning to build globally competitive domestic auditors
BUSINESS
Composite licensing may not be included in Insurance Amendment Bill to be tabled in Winter Session
Industry executives believe lawmakers are more likely to prioritise the FDI change, over more technical amendments. Rationale behind introduction of Composite License likely to be deliberated further by IRDAI and insurance companies, sources suggest.
BUSINESS
Foster sub-national autonomy, strengthen local revenue base: OECD suggestion to 16th Finance Commission
OECD Senior Advisor Sean Dougherty says India, with its strong growth rate and relatively lower debt levels, is better-positioned than many OECD economies, but strengthening local public finance remains key.
BUSINESS
Centre weighs a downgrade clause in PSU Ratna status if state-run firms fail to perform for three years
Officials said the government is also weighing the potential flip side of such downgrades, including how a lower classification could affect a PSU’s market valuation, investor confidence and the ability to raise funds.
BUSINESS
Direct cash transfers effective in poverty alleviation, says J-PAL's Iqbal Singh Dhaliwal
Hardware is hard but software is harder — India has built the hardware. Now the country must focus on the software – the people, their skills, their health and education, the economist tells Moneycontrol
BUSINESS
PFRDA says planning inflation-linked NPS products to protect retirees’ returns
NPS to offer same tax benefits to new inflation-protected payouts; 100% equity option already available
BUSINESS
India’s 8% growth hinges on private investment revival, says Michael Patra
Government’s capital expenditure has played its part and consumption now holds the key to sustaining growth, the former RBI deputy Governor tells Moneycontrol
ECONOMY
Global markets could see correction as tech-driven rally seen to override key concerns: RBI governor
Governor Sanjay Malhotra also expressed confidence in India's economy sustaining 7-8 percent growth
BUSINESS
NPS opens full equity option, FM flags inflation protection
“Inflation benefits should be there in pension so that pension remains fiscally sustainable,” the minister said, adding that “pension is important for old age.”
BUSINESS
Govt extends deadline to opt for Unified Pension Scheme till November 30
Extension comes after stakeholders sought more time in light of recent changes including switch option, retirement benefits, and tax exemptions
BUSINESS
ED attaches Rs 15.41-crore worth of properties in GST fraud case
According to ED, the accused issued bogus GST invoices, fraudulently generating and passing on fake Input Tax Credit valued at over Rs 734 crore.The fraud spans three states and involves 135 shell companies
BUSINESS
Government may invoke Legal Metrology Act to check profiteering on GST rate cuts
CBIC is collecting pre and post-rationalisation GST data to identify instances where the benefits of the tax cut are not being passed on.
BUSINESS
Nearly 90% of finance ministry files go digital as officials shift to new Central Vista building
Legacy files have been scanned and shredded; officials are citing storage constraints and shift to a new paperless regime
BUSINESS
Govt monitors GST rate cut transmission on over 50 items; awaits Sept-end field reports
Officials say 90 percent sectors already reflecting cuts; small retailers may take longer
BUSINESS
Next GST Council may fix notebook paper tax mismatch to lower cost of study material
Senior government source said anomaly of tax-free notebooks and 18 percent levy on paper inputs will be corrected in next GST Council meeting.
