The Centre is advocating for a 5% GST on electric vehicles as part of a broader tax overhaul, aiming to simplify the GST structure to two main slabs: 5% and 18%. This reform seeks to lower taxes on everyday goods while opposition-ruled states are concerned about potential revenue shortfalls and are seeking compensation.
India’s finance ministry will begin the Budget-making exercise for 2026-27 on October 9, amidst global economic uncertainties and new US tariffs. The upcoming budget aims to boost demand, create jobs, and achieve a sustained 8% growth rate. Ministries must submit data by October 3, with the budget expected on February 1.
Sugar stocks surged as the government permitted unrestricted ethanol production from the 2025-26 marketing year. This policy change, allowing ethanol production from various sugarcane sources, boosted investor sentiment. ISMA estimates a significant diversion of sugar towards ethanol, aiding stock management and farmer payments, driving rallies in Rajshree Sugars, Shree Renuka Sugars and others.
Sugar stock rally on ethanol push: Rajshree tops chart at 20%; industry cheers govt move Read More »
The Competition Commission of India (CCI) has approved Sumitomo Mitsui Banking Corporation’s (SMBC) proposal to acquire up to a 24.99% stake in Yes Bank. This move will make SMBC the single-largest shareholder in the private sector bank. The Reserve Bank of India (RBI) had previously approved the deal, paving the way for this significant investment.
Wall Street experienced a significant downturn on Tuesday, with the S&P 500 facing its worst single-day loss in a month. The Dow and Nasdaq also declined, pressured by rising bond yields and a retreat from AI-related stocks. Simultaneously, safe-haven assets surged, with gold reaching a record high and silver crossing $40 for the first time
Leading automakers in India experienced a decline in vehicle dispatches to dealers in August as potential buyers anticipated lower prices due to a proposed GST rejig. While Maruti Suzuki, Hyundai, Mahindra, and Tata Motors reported drops in sales, Toyota Kirloskar Motor and Royal Enfield bucked the trend with positive growth.
Auto sales dip in August: Buyers delay purchases; GST rejig hopes keep demand in check Read More »
Gold prices soared to a record high of Rs 1,05,670 per 10 grams in the national capital, marking the sixth consecutive session of gains. The surge was fueled by expectations of a US Federal Reserve rate cut and strong overseas demand. Silver prices also reached a new peak of Rs 1,26,000 per kilogram, driven by
India’s outward foreign direct investment has surged in the last five years, boasting a 12.6% CAGR, significantly outpacing the global average. A Bank of Baroda report highlights that outward FDI reached a record $23.8 billion in 2024, driven by India’s global integration efforts.
India’s current account deficit saw a significant decrease in the June quarter. The Reserve Bank of India reported the deficit narrowed to $2.4 billion. This improvement was driven by strong services exports. The merchandise trade gap widened during this period. Foreign direct investment witnessed a net inflow. Foreign portfolio investment also experienced a rise compared
Over two years after the Reserve Bank of India announced the withdrawal of Rs 2000 banknotes, Rs 5,956 crore worth of these notes remain in circulation. Initially valued at Rs 3.56 lakh crore, 98.33% of the notes have been returned since May 19, 2023. The RBI continues to offer exchange and deposit facilities at designated
