Buoyed by stronger-than-expected economic momentum and a steady cooling in inflation, the Reserve Bank of India’s Monetary Policy Committee (MPC) on Friday unanimously cut the repo rate by 25 basis points (bps) to 5.25 per cent, a move that is likely to bring down lending and deposit rates across the banking system. The reduction — […]
Overall, GST collections, after refunds and excluding cess, stood at Rs 1.52 lakh crore in November as against Rs 1.50 lakh crore, up 1.3 per cent from last year. Including cess, net GST mop-up was Rs 1.56 lakh crore in November, down 4.2 per cent from last year.
Bills to amend excise duty, introduce 'Health Security se National Security Cess'.
With Q2 growth also exceeding expectations by a wide margin — the RBI had predicted a growth rate of 7 per cent for July-September — the central bank could raise its projection again next week after the Monetary Policy Committee’s (MPC) meeting.
His statement comes days ahead of the MPC’s upcoming meeting scheduled from December 3 to 5.
Steep 50 per cent US tariffs came into effect on August 27. After the China-US trade deal, tariffs on India are the highest globally.
This comes after multiple units in the SEZs, particularly those which entirely cater to the US market, have written to the Commerce Ministry seeking that they be de-notified due to sudden tariff pressure that has left exports uncompetitive in the US market.
Pre-survey test finds most households say details ‘sensitive’, 95% felt ‘uncomfortable’ sharing information on income, tax paid
54 items being closely monitored, says Sitharaman, ‘not in one has tax benefit not been passed on’ to consumers
50% US tariff expected to weigh on growth next year…manufacturing to export could create the millions of jobs India needs: Bank South Asia Chief Economist
FMCG major Hindustan Unilever has already flagged the risk of “near flat to low-single digit” consolidated business growth in Q2, which it sees spilling over till October as well.
Starting September 22, the government has introduced a two-slab structure of 5 per cent and 18 per cent, abolishing the earlier four-rate tax regime.
Over the last three months, foreign investors net sold Rs 61,522 crore of domestic equities due to tariff-related uncertainties.
The field offices have been asked to treat this price compilation exercise “on priority”, with the monthly report to be sent to the Central Board of Indirect Taxes and Customs (CBIC) by the 20th of every month
An industry executive who did not wish to be named said that if there is a risk of substantial amounts getting stuck within the refund process, it gives way to tendencies of evasion
India can learn from Chinese expertise in manufacturing Naushad Forbes, Co-Chairman of industrial machinery manufacturing company Forbes Marshall, says the challenge triggered by US tariffs should be an opportunity to push for reforms wherein the Centre devolves powers to states, and states in turn empower cities.
The big question mark — how much of this would get passed on in terms of lower prices for consumers.
According to him, the order of magnitude could be anywhere between 0.3 per cent and 0.5 per cent this year in terms of real GDP impact.
While much of the global trade remains stable, he said the tariffs have become a major source of investment uncertainty in the country.
The current account deficit is the difference between exports and imports of goods and services. It is a key indicator of the country's external sector.
According to the Chief Economic Advisor, online sales and digital transactions need to be monitored to better understand the state of private consumption in the country.
The IT Ministry had sought Microsoft’s response on why it had suspended services to Nayara Energy, which resulted in its employees not being able to access their own data and communication channels.
He said the RBI has ensured ample liquidity in the banking system and will take all necessary steps to support economic growth, especially in sectors that may be more severely impacted.
Council to hold item-wise discussion next-gen reforms; states to raise revenue loss concerns
Six days ago, Prime Minister Narendra Modi, in his Independence Day address, announced the next big phase of reforms under the GST regime by Diwali, a gift for the common man, small entrepreneurs and MSMEs, in terms of reduced tax burden.









