Page 273 - Economy & Policy News
GoM proposes fresh band: 35% GST slab likely for tobacco, aerated drinks
"The GoM on rate rationalisation has completed its report, which proposes major adjustments to tax rates on 148 items, with a particular focus on the textile industry"
 "GoM proposes fresh band: 35% GST slab likely for tobacco, aerated drinks")
Windfall tax on domestic oil, fuel exports scrapped with immediate effect
No major revenue impact, say experts
 "Windfall tax on domestic oil, fuel exports scrapped with immediate effect")
Govt to take steps for better GDP growth in H2FY25: DEA Secretary
The government is expected to push capital expenditure (capex), which has reached only 42 per cent of the full-year FY25 target by the end of October
 "Govt to take steps for better GDP growth in H2FY25: DEA Secretary")
Smallholder agriculture key to achieving Viksit Bharat goal by 2047: Mishra
Mishra emphasised the critical role of agricultural growth in poverty reduction, especially in rural areas
 "Smallholder agriculture key to achieving Viksit Bharat goal by 2047: Mishra")
Govt aims to double Rajasthan's economy to Rs 30 trillion in five years: CM
Our government has set an ambitious target of doubling the state's economy from its current size of Rs 15 trillion to Rs 30 trillion in the next five years
 "Govt aims to double Rajasthan's economy to Rs 30 trillion in five years: CM")
Q2 GDP growth low but 2nd half numbers expected to be better: DEA secretary
The previous low level of GDP growth at 4.3 per cent was recorded in the third quarter (October-December 2022) of financial year 2022-23
 "Q2 GDP growth low but 2nd half numbers expected to be better: DEA secretary")
Goyal calls for promoting sustainable consumption to cut carbon footprint
He said that people of the world would have to focus on consuming products which are environmentally sustainable
 "Goyal calls for promoting sustainable consumption to cut carbon footprint")
Commerce ministry reviewing India-US trade relations amid Trump statements
The official added that there are no irritants in the relations between the two countries that can lead to discriminatory tariffs against India
 "Commerce ministry reviewing India-US trade relations amid Trump statements")
Base year for GDP calculation to be changed to FY23: Govt tells Parliament
Government informed Parliament that an advisory committee on national accounts statistics has been formed to identify new data sources and advise on the methodology for the revised series
 "Base year for GDP calculation to be changed to FY23: Govt tells Parliament")
Rs 200 cr of homebuyer's compensation recovered from realtors: MahaRERA
The real estate watchdog said it has issued 1,163 warrants for recovering Rs 705.62 crore across the state and has made developers cough up Rs 200.23 crore from 283 warrants involving 139 real estate
 "Rs 200 cr of homebuyer's compensation recovered from realtors: MahaRERA")
Govt targets 6.5-7% GDP growth in FY25 despite slowdown: EAS Ajay Seth
India's GDP recorded a 5.4% growth in the July-September quarter, its slowest in two years
 "Govt targets 6.5-7% GDP growth in FY25 despite slowdown: EAS Ajay Seth")
Govt abolishes windfall tax on crude oil, ATF, petrol, and diesel exports
The govt has withdrawn the Road and Infrastructure Cess on petrol and diesel exports to ease financial pressure on the oil sector
 "Govt abolishes windfall tax on crude oil, ATF, petrol, and diesel exports")
November PMI at 56.5 as India's manufacturing growth shows signs of strain
HSBC final India Manufacturing PMI for November matches September's eight-month low of 56.5
 "November PMI at 56.5 as India's manufacturing growth shows signs of strain")
Home prices in India to rise 6.5% in 2025 due to demand from wealthy: Poll
After rising 4.3 per cent last year, home prices in India - broadly referring to housing in major cities - were expected to rise 7.0 per cent this year, 6.5 per cent in 2025 and 7.5 per cent in 2026
NCAP's silent crisis: Air pollution rises while funds gather dust
The NCAP set a goal of reducing PM10 levels by 40 per cent or achieving the national standard of 60 micrograms per cubic metre by 2025-26
 "NCAP's silent crisis: Air pollution rises while funds gather dust")
Indian govt opposes regulating production of primary plastic polymers
This statement came as a global meeting in South Korea's Busan to finalise a legally binding treaty to combat plastic pollution ended without an agreement
 "Indian govt opposes regulating production of primary plastic polymers")
Cheap Venezuelan oil to India turns costlier as traders eat into margins
Early this year, when sanctions were briefly lifted, state-run Venezuelan oil company PDVSA sold Venezuelan export benchmark Merey grade at a $20 per barrel discount to European benchmark Brent
 "Cheap Venezuelan oil to India turns costlier as traders eat into margins")
India readies various strategies to tackle 'US first' trade policy
The government is closely assessing Trump's election speeches and actions during his previous tenure, the official told Business Standard
 "India readies various strategies to tackle 'US first' trade policy")
Net GST mopup rises 11% to Rs 1.63 trillion in Nov amid drop in refunds
Gross collection grows 8.5% to Rs 1.8 trillion
 "Net GST mopup rises 11% to Rs 1.63 trillion in Nov amid drop in refunds")
After Q2 GDP surprise, agencies downgrade India's FY25 growth forecast
Key metrics, such as goods and services tax (GST) collection, e-way bills, and toll revenues, increased in October
 "After Q2 GDP surprise, agencies downgrade India's FY25 growth forecast")