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
BUSINESS
Govt may double MSEs' collateral-free loan limit to Rs 20 lakh under credit guarantee scheme
The move comes as Trump's tariffs on Indian goods are expected to hit micro & small enterprises the hardest. A decision is likely before the end of the month
BUSINESS
Lok Sabha passes revised income-tax bill
The revised income tax bill was tabled in the house earlier today by finance minister Nirmala Sitharaman. It carries most of the 285 recommendations made by the Parliamentary Select Committee
BUSINESS
Govt favours retaining current inflation targeting framework from FY27 for another 5 years
This is because the weight of food in the CPI basket is likely to come down; therefore, the RBI may continue to target headline inflation, with a mandate of keeping the rate at 4 percent along with a tolerance band of 2 percentage points on either side. The current framework is valid until March 2026.
BUSINESS
Banks recommend new GST slab of Rs 1 crore to curb merchants ditching digital payments
DFS sought comments from banks, RBI and NPCI on the existing GST slab of Rs 40 lakh for shopkeepers, whether it should be raised, and by how much, sources said
BUSINESS
India mulls fresh incentives for exporters amid US tariff shock, sources say
Any fresh incentive will potentially focus on labour-intensive exports and the requirement for the same will depend on if and how quickly Washington and New Delhi secure a trade deal potentially lowering the massive tariffs rates, sources said.
BUSINESS
Trump’s tariff threat can shave off 30-50 bps from India’s FY26 growth, fear economists
Policy experts see the move by US President as counterproductive, coming at a time when both nations are actively engaged in forging a long-term trade agreement.
BUSINESS
K. Moses Chalai, Secretary of Dept of Public Enterprises, to be designated as the next Finance Secretary soon?
According to sources, Chalai is the senior most in rank in the finance ministry and is expected to be designated as finance secretary soon.
BUSINESS
GST Council may take up proposal for uniform 12% tax on fertilisers, inputs by September
The government is open to compensating industry through direct subsidy to protect end-user pricing, say sources
BUSINESS
No tax exemption for fast-track demergers in new I-T bill, experts say will hamper ease of business
The gap in the Income-Tax Bill, 2025 may hurt MSMEs and startups, which have been relying on simplified restructuring routes
BUSINESS
Trump’s tariff may dent export margins, but India’s manufacturing appeal intact, say economists
While Trump’s tariff threatens immediate export and relocation momentum of the China+1 theme, India’s workforce, policy incentives and export resilience is expected to attract global manufacturers. The levy, if implemented, could amount to $16-18 billion annually in duties on Indian exports, one estimate said.
BUSINESS
LTIMindtree bags Rs 792-crore PAN 2.0 project
The projects aims to modernise and improve the PAN and TAN systems with the use of such as artificial intelligence and data analytics
