BUSINESS
Govt to retain 12% GST on bricks, 28% on tobacco, notification expected this week
Since the 12 percent and 28 percent slabs are being done away in the new GST regime, which comes into effect from September 22, notifications are required to preserve the existing levies on bricks and tobacco products
BUSINESS
FM Sitharaman flags AI talent gap as hurdle to productivity-driven growth
India needs to bump up the growth rate to 8 percent to become Viksit Bharat and AI can give a boost to both productivity and innovation, NITI Aayog CEO BVR Subrahmanyam has said
BUSINESS
Trump tariffs make it vital to fast-track trade talks with EU, New Zealand, Brazil: Assocham's Sanjay Nayar
Sanjay Nayar, President of Assocham said that easing credit access, cutting compliance costs and introducing a government-backed skilling programme would help integrate India's MSMEs into global supply chains more effectively.
BUSINESS
Women hold 56% of over 56 crore Jan Dhan accounts opened in 11 years: Finance Minister
Over 38 crore RuPay cards have been issued to account holders under the scheme, which was launched on August 28, 2014
BUSINESS
Online gaming ban: Govt, banks and fintechs meet on Aug 29 to draw up plan to implement new law
The government has flagged concerns about money laundering and terror financing risks linked to real-money gaming platforms
BUSINESS
MC Interview | Trump tariff impact not so much on growth but on jobs: EAC-PM Chairman
India quickly needs to introduce labor reforms that can remove the 'missing middle problem' in the manufacturing sector, and raise productivity, said S Mahendra Dev, Chairman of EAC-PM said.
BUSINESS
GST Council meet likely to discuss ending compensation cess by October 31
Likely cess surplus of Rs 2,000-3,000 crore to be shared equally between Centre and states, say sources
BUSINESS
Demand boost to more than make up for GST 2.0 revenue loss, says PM-EAC chairman
Lower GST rates will lift growth without derailing fiscal deficit, says PM’s economic advisory council chairman S Mahendra Dev
BUSINESS
GST Council may weigh cess on sin goods or higher tax cap beyond 40% to keep tax incidence unchanged
GST Council meeting scheduled for Sep 3-5 could also weigh excise duty on tobacco, with proceeds devolved to states via the Finance Commission formula
BUSINESS
New Income Tax Act: CBDT plans FAQs, streamlined rules to aid taxpayers, says RN Parbat
The new income tax Act will come into effect from April 1, 2026
BUSINESS
Govt viability gap funding for Atal Pension Yojana likely to reduce with higher equity returns: PFRDA chief
From April 1, the equity class division portion of APY has been increased from 15 percent to 25 percent
BUSINESS
Finance Ministry plans consultations with India Inc to boost job creation amid slowing wage growth
Efforts to help industry, especially MSMEs to achieve scale and thereby ensuring better wages is key since the capacity to spend is intrinsically tied to growth in income that has been tepid, particularly in urban India.
BUSINESS
Income-Tax Act 2025 receives President's assent
The Act paves way for a simplified and modernised tax regime from April 2026.
BUSINESS
GoM approves Centre's GST rate rationalisation proposal, backing the proposed two-slab structure
The Centre’s proposal will now be placed before the GST Council during its next meeting, scheduled in September, which will be attended by ministers from Centre and all the states.
INDIA
GoM proposes GST exemption on health and life insurance: Bihar Deputy CM
Final decision to rest with GST Council; states divided on revenue implications
BUSINESS
Govt’s draft online gaming bill seeks regulator to promote e-sports, online social games: Sources
The draft bill "Promotion and Regulation of Online Gaming Act, 2025' is aimed at promoting competitive gaming as a legitimate sport
BUSINESS
PM Modi weighs next-gen reforms with senior ministers, economists
According to sources, the government appears to be drawing up a roadmap that addresses structural bottlenecks and enhances India’s growth potential
BUSINESS
Moving goods from 12% GST slab to cost Rs 80,000 cr in revenue annually
Government sources say a majority of the 12 percent slab items may move to 5 percent. The 40% GST rate on luxury and sin goods to parly offset losses.
BUSINESS
Govt may ease defence tenders norms to attract private players
The government may move to open tendering from the nomination-based system to boost competition, encourage MSME participation and indigenisation
BUSINESS
India may ease FDI norms for solar industry to attract Chinese investment, but tighten grip on IT, data
The rethink on Chinese investments into India comes at a time when the relationship between the two nations have seen a thaw in recent few weeks.
BUSINESS
Centre proposes to move to a two-slab 'standard and merit' GST structure
Key areas identified for next-generation reforms include the rationalisation of tax rates to benefit all sections of society, especially the common man, women, students, middle class, and farmers, says the finance ministry
BUSINESS
FinMin sees S&P upgrade as milestone on road to Viksit Bharat 2047
Economists say move will aid foreign investment inflows and lower borrowing costs
BUSINESS
Bogus trusts suspected of laundering CSR funds uncovered in I-T raids, search set to widen
A suspected CSR-linked laundering network is under probe after I-T Department uncovered bogus trusts in recent raids. A multi-city crackdown is now on cards to identify the corporates involved with such trusts.
BUSINESS
SFIO probing Vivo, Oppo, Xiaomi after RoC flags Rs 6,000-crore 'fund diversion'
The SFIO’s investigation, which began around March this year, is expected to take about a year to complete
