Top Headlines: Tax-free slab to Rs 5 lakh, basic Customs duty cut, and more

Business Standard brings you the top headlines at this hour

Centre mulls increasing the tax-free slab, cut some of its import duties in Budget 2023-24. SBI to start overseas trade in rupee with smaller countries like Mauritius and Sri Lanka. 

Read more on these in our morning brief of top headlines. 

Budget 2023-24: Centre mulls increasing tax-free slab to Rs 5 lakh

Policymakers are examining the possibility of increasing the tax-free slab to Rs 5 lakh in the two-year-old alternative personal income tax regime to make it attractive, a government official said. Read more
 

State Bank of India to begin overseas rupee trade with smaller nations

State Bank India (SBI) will start overseas trade in rupee with smaller countries like Mauritius and Sri Lanka to steer clear of any transactions with Russia which carries the risk of sanctions by the West. Read More
 

Budget 2023-24: Govt mulls basic Customs duty cut to align with FTA

India plans to cut some of its import duties in Budget 2023-24. The cuts will sit well with a raft of free trade agreements (FTAs) the government is negotiating with several countries. Read More
 

Air India nears historic order for up to 500 jets from Airbus and Boeing

Air India is close to placing landmark orders for as many as 500 jetliners worth tens of billions of dollars from both Airbus and Boeing as it carves out an ambitious renaissance under the Tata Group conglomerate, industry sources said on Sunday. Read More

At $171 billion in 2022, India Inc clinches highest ever yearly M&As

Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. Read More