Bilateral investment treaty and FTAs are two separate pacts; should continue to remain so: Sources

India argues against including investment protection within free trade agreements (FTAs), citing potential negative impacts on trade structures and dispute resolution. They advocate for separate inve

RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm

Shaktikanta Das concluded his six-year term as RBI governor, prioritizing inflation control over rate cuts. His successor, Sanjay Malhotra, faces pressure to stimulate growth amid slowing GDP and dis

CII seeks reforms in India's priority sector lending framework

India's industry body, CII, recommends changes to the Priority Sector Lending policy. CII suggests adding new sectors like digital infrastructure and green initiatives. They also propose reviewing cur

HDFC Securities expects India GDP to moderate to 6.4% in 2024-25

India's GDP is projected to grow by 6.4% in 2024-25. Rural demand and government spending will fuel this growth. Urban demand slowdown and weak private investment pose challenges. Growth is expected t

FM Sitharaman explains difference in GST rates between salted and caramel popcorn

Budget 2025: States to get more funds for disaster relief via interest-free loan scheme

States will receive interest-free 50-year loans for disaster-related programs, including infrastructure rebuilding and mitigation measures. An additional ₹5,000 cr incentive will encourage urban pl

Must tap informal sector to expand NPS reach: PFRDA

Deepak Mohanty, PFRDA chairman, highlighted the lack of NPS coverage for India's vast informal sector. A new association aims to boost NPS growth, currently managing Rs 14 lakh crore. Industry leade

GoM to look into Andhra Pradesh's demand for 1% calamity cess on luxe goods

The GST Council will form a group of ministers (GoM) to explore Andhra Pradesh's request for a 1% calamity cess on luxury goods for disaster relief. This follows flooding in the state. The GoM will

GST Council approves 'Track and Trace Mechanism' to curb evasion

The GST Council approved a 'Track and Trace Mechanism' for evasion-prone goods, using unique identification markings. Rate cuts were announced on fortified rice kernels and gene therapy, while contri

Caramelised popcorn’s sweetness in jeopardy? Sitharaman’s GST clarification adds a tangy twist

The GST Council clarified the tax rates for popcorn. Ready-to-eat popcorn with salt and spices will be taxed at 5% if loose and 12% if pre-packaged and labelled. Caramel popcorn, classified as a suga

GST Decision: Sitharaman announces exemption for payment aggregators processing transactions below Rs 2,000

Finance Minister Nirmala Sitharaman on Saturday provided a significant relief to payment aggregators. While announcing the decision of the 55th GST Council Meeting, she said that payment aggregators w

GST Council meet: From no GST on penal charges by banks, NBFCs for loan defaults to 5% GST on new EVs & more; Here are top 10 outcomes

The GST Council lowered the compensation cess rate for merchant exporters to 0.1% and reduced the tax on fortified rice kernels to 5%. The exemption for missile parts was extended. Clarification was

Gift vouchers won't attract GST, clarifies Council

The GST Council declared that voucher transactions will not be subject to GST, providing relief to retailers. This decision clarifies that vouchers are not considered goods or services, resolving pre

Delhi, Punjab, Kerala & Puducherry spend more on day-to-day expenses rather than investing in capex: RBI report

The Reserve Bank of India (RBI) warns that populist measures like free electricity and transport, while offering immediate relief, are straining state finances. These schemes hinder investment in cruc

GST Council defers decision on insurance tax cuts amid lack of consensus among states

The GST Council postponed a decision on lowering GST rates for life and health insurance premiums during its 55th meeting. The Group of Ministers (GoM) will reconvene in January to address technicali

GST Council ups tax on sale of used cars by businesses; says rate on popcorn depends on flavour

The GST council met on Saturday. It decided to not tax gift vouchers. Used cars purchased by businesses will face an 18% tax. This includes electric vehicles. The tax on fortified rice kernels is

Electricity distribution companies continue to remain a burden on state finances: RBI

The Reserve Bank of India reported that DISCOM losses reached Rs 6.5 lakh crore, impacting state finances. The RBI recommends improving efficiency, reducing losses, and aligning tariffs with costs.

GST Council meeting begins: Tax rate on electric cars, food delivery apps and flavoured popcorn on cards

The 55th GST Council meeting in Jaisalmer deliberated on tax relief for insurance, increasing the tax rate on used EVs to 18%, clarifying the levy on food delivery apps, and potentially exempting gift

Indian exporters See limited gains from Rupee depreciation

Indian garment, handicraft, and engineering exporters anticipate 5-10% gains from the rupee's decline. However, import-dependent sectors like gems, jewelry, and electronics face rising input costs, of

India considers exempting gift vouchers from GST; Council to discuss key issues

The GST Council is contemplating exempting gift vouchers from GST and reducing tax rates on insurance premiums. They are also considering an 18% GST on used cars, including electric vehicles, and a p

Govt hikes MSP of Copra for 2025 by 3.76%

The Union Cabinet has increased the minimum support price (MSP) of copra for 2025 by 3.76% for milling copra variety, which will have a financial implication of ₹855 crore, said Union Minister Ashwi

Digital Competition Law unlikely before second half of FY26

The Indian government is delaying the finalization of a digital competition law until the latter half of the next fiscal year. Extensive inter-ministerial consultations are planned due to the complex

Pre-Budget Consultation: States seek more fiscal support for capex plans

States urged the Centre for increased interest-free loans, greater capex scheme flexibility, and a higher borrowing limit to boost their economies. They also requested disaster relief funds, Jal Jeev

Inflation-growth balance 'somewhat unsettled: Shaktikanta Das

The Reserve Bank of India's monetary policy committee held rates steady in early December, prioritizing inflation control over growth concerns. Two members dissented, favoring a rate cut due to slowin

Single Window System grants Rs 4.81 lakh approvals

India's National Single Window System has processed 7.1 lakh applications, granting 4.81 lakh approvals for various services, including FDI. The country has attracted $991 billion in FDI since 2000,

Funds devolved to states under 15th Finance Commission higher: Finance Minister

Finance Minister Nirmala Sitharaman announced increased devolution of funds to states under the 15th Finance Commission, exceeding the previous commission's allocation. She highlighted the Scheme for

Orders placed for 3 boring machines to construct 21 km under sea tunnel for bullet train: Govt

Three tunnel boring machines have been ordered for the 21-km undersea tunnel section of the Bullet Train project in Maharashtra. Land acquisition is complete, and construction of bridges, aqueducts,

Cabinet approves copra MSP by upto Rs 420 to Rs 12,100 per qtl for 2025 season

Pre-budget memo: Karnataka seeks Centre’s help to upgrade Bengaluru, Mysuru & Hubballi

Karnataka has requested central government funding for urban development in Bengaluru, Mysuru, and Hubballi, focusing on housing, transportation, and sanitation upgrades. The state also seeks financi

Cabinet approves minimum support price for Copra for the 2025 season

The Cabinet Committee on Economic Affairs approved the Minimum Support Price (MSP) for copra for the 2025 season. The MSP for milling copra is set at ₹11,582 per quintal and ₹12,100 per quintal fo

Budget 2025: Nirmala Sitharaman holds meet with states; Punjab and Kerala seek special financial packages

Punjab and Kerala have sought special financial packages during pre-Budget consultations with Finance Minister Nirmala Sitharaman. States also requested increased borrowing limits, higher allocation

Priority should be restoring inflation-growth balance: Das at last MPC meet

The Reserve Bank of India (RBI) held its benchmark interest rate steady at 6.25% in December, prioritizing inflation control amid slowing economic growth. Outgoing Governor Shaktikanta Das emphasized

India begins safeguard probe for steel imports

India probes surging steel imports. Domestic steel makers allege harm from the import rise. The government might impose a 20% safeguard duty. The probe covers various steel products. It excludes cert

Rate cut would help in reviving economic growth without worsening the inflationary situation: MPC's Nagesh Kumar

RBI MPC member Dr. Nagesh Kumar advocated for a 25-basis point repo rate cut and a 50-basis point CRR reduction to stimulate economic growth without exacerbating inflation. He and Prof. Ram Singh diss

Non-tariff barriers impeding trade: India tells EU

India and the EU are working to address trade barriers under FTA negotiations. India's Commerce Minister highlighted non-tariff barriers impacting domestic industries, urging resolution as a confiden

Weather, rise in international agricultural commodity prices pose upside risks to food inflation, warns RBI in MPC Minutes

The Reserve Bank of India (RBI) maintained its repo rate at 6.50% while acknowledging softening food inflation. However, the MPC minutes cautioned about upside risks from weather and global commodity

India's forex reserves fall to $652.87 billion, down $1.98 billion as of Dec 13

India's foreign exchange reserves decreased by $1.98 billion to $652.87 billion as of December 13. Despite this recent dip, India's reserves have previously surpassed $700 billion, securing its posit

RBI board reviews global, domestic economic situation

The Reserve Bank of India's central board, led by new Governor Sanjay Malhotra, convened to assess the global and domestic economic landscape. The board acknowledged Shaktikanta Das's contributions d

India's PLI schemes drive Atmanirbhar Bharat vision with Rs 1.97 lakh crore boost

India's Product-Linked Incentive (PLI) schemes, launched in 2020, are boosting domestic manufacturing and exports. With over US$26 billion invested across 14 sectors, the program has driven significa

RBI may delay rate cut to April next year amid Fed's hawkish stance, says Yes Bank report

The Reserve Bank of India (RBI) may delay its rate cut cycle to April 2025 due to the Federal Reserve's hawkish stance, as per Yes Bank's report. The Fed's slower monetary easing, stronger USD, and ri

SOGI calls for 28% GST on platform fees and not deposits for Indian gaming companies

The Skill Online Games Institute (SOGI) has urged the government to impose 28% GST on platform fees instead of deposits to prevent tax arbitrage benefiting offshore gaming platforms. SOGI highlights t

India raises trade barriers issue with EU

India and the EU discussed trade barriers and a potential free trade agreement. Commerce Minister Goyal highlighted non-tariff barriers impacting Indian businesses in the EU. Both sides agreed to wo

How India flexed its global power muscles in 2024

In 2024, India showcased assertive foreign policy, focusing on economic diplomacy and strategic engagements. Key highlights included resolving military tensions with China, securing control over Chaba

GST Council meet: Ordering from Swiggy, Zomato may get cheaper; health insurance exemption on cards

The GST Council is set to discuss several changes, including reducing tax on life and health insurance premiums, food delivery platforms, and aviation turbine fuel. It may raise taxes on luxury goods

Onion prices crash by 55% in a week

With onion prices plummeting over 50% in a week, Maharashtra Deputy CM Ajit Pawar urged Union Minister Piyush Goyal to remove the 20% export duty. Increased arrivals and export promotion could stabili

Eric Garcetti calls for lower tariff, fair and equal trade with India

US Ambassador Eric Garcetti advocated for stronger US-India trade ties, emphasizing the need for lower tariffs and increased fairness. He lauded India's workforce and called for combining American res

India to reassess gold import data amid calculation errors, double-counting concerns

India's import data since July is under scrutiny due to a potential miscalculation in gold imports. A transition in data portals may have led to errors, prompting a govt investigation. November's go

Centre proposes bill to ban unregulated lending

The government drafted a bill to combat illegal lending. The bill proposes a 10-year jail term and a ₹1 crore penalty for violators. An online database of approved lenders will be created. The da

Govt proposes new law to restrict unregulated lending; violators to face 10 years of jail

The central government has introduced a bill, BULA, to combat unregulated lending. The bill proposes up to 10 years imprisonment and substantial fines for violators. This action follows the RBI's re

Niti Aayog moots policy measures to develop workers’ accommodation around factories

In its report ‘Site Adjacent Factory Employee (S.A.F.E) Accommodation-Worker Housing for manufacturing growth’ released on Thursday, the Aayog has proposed reclassification of land near manufactur