BUSINESS
LIC, IDBI stake sales expected to help Centre surpass FY26 disinvestment target
Government expects up to Rs 80,000 crore from disinvestment in LIC and IDBI, the two key transactions, against the Rs 47,000 crore Budget target for capital receipts
BUSINESS
Nirmala Sitharaman hails 'resilient' exporters, promises all support in face of global challenges
Nirmala Sitharaman also said trade talks with the US are ongoing and are likely to conclude soon
BUSINESS
iPhone manufacturers cross 20% local sourcing from India, says Nirmala Sitharaman
Apple has scaled up domestic value addition and component manufacturing as global supply chains realign
BUSINESS
FinMin, RBI meet today to fast-track Unified Lending Interface for MSME credit access
ULI aims to digitally transform credit delivery through seamless data sharing and verification, reducing bottlenecks for MSME lending
BUSINESS
Net direct tax collection slips 1.39% to Rs 4.58 lakh crore; refunds surge over 58%
While the non-corporate tax witnessed 2.68 percent negative growth in advance tax, corporate tax grew by 5.86 percent till June 19.
BUSINESS
CCI may probe leak of sensitive info in Asian Paints case to law firm, say govt sources
The breach is seen as a violation of confidentiality protocols, with potential implications for the credibility and timeline of the final order.
BUSINESS
Govt asks IRDAI to scale up inspections, penalise health insurers flouting norms
IRDAI has, so far, inspected six to seven insurance companies, covering both public sector and private players, with further checks planned in the coming months
BUSINESS
After UPI, Sitharaman calls for Unified Lending Interface, flags rural India as fintech frontier
Finance Minister Nirmala Sitharaman on June 18 asked to move towards a Unified Lending Interface and deepen reach into rural markets, as India moves towards a “phygital” financial ecosystem.
BUSINESS
Maximum GST rate cap may be raised ahead of expiry of compensation cess in April
GoM favours merging the levy the compensation with GST rates to leave the tax on high-revenue items unchanged. The cess will stand withdrawn from March 31, 2026
BUSINESS
FM to review CBIC and CBDT performance; Refund delays, vigilance pendency in focus in June
Timely refund processing, cargo dwell time, and litigation backlog to dominate Finance Minister’s interactions with tax field formations
BUSINESS
India's CPI to CAD in safe zone till Iran-Israel conflict remains contained, say experts
While oil prices are rising in reaction to the escalating conflict between Israel and Iran, for India - a net importer of crude - the key to any macroeconomic fallout depends on how much the current skirmish expends across the middle east.
BUSINESS
Government may delay HZL stake sale amid strong dividend inflows
Buoyed by robust payouts, the Centre is re-evaluating its strategy to monetise the remaining 27.94% stake in Hindustan Zinc. The Centre may explore a QIP or other routes to offload stake in tranches
BUSINESS
Bombay Metal Exchange to move court over retrospective customs duty demand on copper imports: Sources
The industry body representing non-ferrous metal traders plans to file a writ petition against penalty notices issued by the customs department, saying they militate against ASEAN FTA provisions.
BUSINESS
Over 1,000 copper importers face customs heat for misusing ASEAN FTA duty exemption
Copper importers have received retrospective show-cause notices from the customs department, prompting industry to send a representation to the Finance Ministry seeking relief for the traders.
BUSINESS
Domestic consulting firms seek removal of entry barriers in govt projects that favour Big 4
Indian firms seek level-playing field, call for overhaul of Rs 500-crore turnover empanelment norm
BUSINESS
FM Sitharaman asks regulators for swift refunds of unclaimed funds to citizens at FSDC meet
Finance Minister calls for coordinated district-level camps and inter-agency cooperation to return unclaimed amounts to rightful owners
BUSINESS
Medicines, tractors emerge as sticking points in scrapping 12 percent GST slab
There is likely a consensus on removing of the 12 percent GST slab, however, the resulting Rs 3,000-4,000 crore revenue loss shall have to be made up through other items, government sources have said.
BUSINESS
3.4 MT of smuggled gold refined, handed to RBI in FY25: FM Sitharaman
According to data compiled by enforcement agencies and reported by Moneycontrol, authorities seized 4,869 kg of smuggled gold in 2023–24, with the Myanmar border emerging as a major trafficking route.
BUSINESS
GST Council likely to take up insurance tax relief at next meeting, GoM may stick to full exemption proposal
The Group of Ministers (GoM) on insurance is expected to stick to its previous recommendation, which had call for a full GST exemption on term life as well as health insurance premiums for senior citizens.
BUSINESS
Procurement of 97 upgraded Tejas Mk-1A jets from HAL likely to begin in FY27: Govt official
HAL has enhanced the domestic share of components, with key systems like radar and high-frequency radios now being produced by Bharat Electronics Ltd.
BUSINESS
India’s own Big 4? PMO holds meeting today to push for homegrown consulting firms
In FY24, the Indian arms of Deloitte, PwC, EY and KPMG posted a combined revenue of Rs 38,800 crore and are projected to surpass Rs 45,000 crore in FY25. A sizable chunk of the revenue has come from government work
BUSINESS
FM Sitharaman to chair 29th FSDC meeting on June 10; RBI, SEBI chiefs to attend
With persistent global uncertainties, the minister is expected to assess systemic vulnerabilities and align regulatory priorities with the government’s policy agenda
INDIA
FM Sitharaman asks DRI to dismantle smuggling, narcotics networks, adopt AI-driven methods
Inaugurating the DRI's new headquarters in New Delhi, the minister said enforcement agencies must evolve in sync with the growing complexity of global trade and security threats
BUSINESS
Nirmala Sitharaman calls high-level meet as concerns mount over Talcher fertiliser plant delay, cost escalation
The project’s date of operation has been pushed back by nearly three years to June 2027 and the cost is projected to rise to Rs 17,080 crore from Rs 13,277 crore
