Page 122 - Economy

GST Council meeting on Sep 3-4: Exemption on cards for cancer drugs

Garments and apparel as well as footwear priced above ₹2,500 are likely to attract 18 per cent GST, while those below this threshold are expected to be taxed at 5 per cent, sources said

Govt may line up four schemes to soften Donald Trump's tariff blow

Cabinet likely to take up proposal on Wednesday

Rollout of GST reforms to bring transparent economy: FM Sitharaman

The 56th GST Council meeting, scheduled for September 3-4 in New Delhi, is set to discuss one of the biggest tax overhauls since the GST regime was rolled out in 2017

The good and simple tax? All eyes on GST Council's two high-rate slabs

This article visually summarises, in two tables, how not-simple the GST is, which leads to serious but under-recognised problems of arbitrary and coercive implementation

CMAI warns GST hike on apparel above ₹2,500 to be 'death knell' for sector

CMAI has opposed reports of a GST hike on garments above ₹2,500 to 18%, warning it will hurt middle-class consumers, traditional crafts and an industry hit by tariff wars

Dhar's PM MITRA Park to be India's largest textile hub: CM Mohan Yadav

Madhya Pradesh CM Mohan Yadav said Dhar's PM MITRA Park will transform the state's textile sector, offering incentives to investors, with global brands already showing interest

India, US still in dialogue for bilateral trade deal, says Piyush Goyal

Piyush Goyal said India and the US remain in talks for a trade deal despite tariff frictions, even as India advances free trade agreements with the EU and other partners

Govt seeks WTO consultations with US over 50% tariffs on copper

This move comes after India reserved the right to impose retaliatory duties on select US products in response to American tariffs on steel and aluminium; and auto components

UP approves policy to boost manufacturing of key electronics components

The policy, aligned with the Centre's Electronics Component Manufacturing Scheme (ECMS), will come into effect from April 1, 2025, for a period of six years, according to an official statement

Finance ministry to kick-start FY27 Budget making exercise from October 9

"Pre-budget meetings chaired by Secretary (Expenditure) shall commence from October 9, 2025," according to the Budget Circular (2026-27) of the Department of Economic Affairs

India set for record cotton buying as imports, US tariffs hit prices

India has raised the price at which it will buy new-season cotton from domestic farmers by 7.8% to 8,110 rupees per 100 kg, but local market prices are hovering around 7,000 rupees

Govt may hike GST on luxury EVs, blow for Tesla, BMW, Mercedes, BYD

The panel recommended raising the GST rate to 18per cent from 5per cent currently for EVs priced between 2 million and 4 million rupees ($23,000-$46,000)

Is Tata Group preparing for leadership change at BigBasket? What CEO says

BigBasket Chief Executive Officer (CEO) Hari Menon said there was no plan to hire a CEO for the grocery e-tailer and no search had been initiated

GST Council meet Sept 3-4: Rate cuts, rationalisation on the agenda

The 56th GST Council meeting on September 3-4 may decide on rate rationalisation, tax cuts on essentials, and compensation measures for states. All you need to know

Russian crude becomes cheaper for India amid US pressure on oil trade

India became a major importer of Russian crude after the start of the war in Ukraine in 2022, but the South Asian nation was recently slapped with crushing US tariffs for the trade

Tamil Nadu signs investment deals worth Rs 3,819 cr at German conclave

Chief Minister Stalin gets commitments worth Rs 7,020 cr during his visit to the European country

GST overhaul may slash levies on shampoos, hybrid cars, TVs, electronics

Consumer electronics like air conditioners and televisions could see rates drop from 28% to 18%, ahead of the Diwali shopping season starting in October

Datanomics: India's GDP surprise driven by deflator effect across sectors

The sharp uptick was largely due to the impact of GDP deflators, which remained unusually soft, particularly in the primary and secondary sectors

At 59.3, manufacturing PMI rises to nearly 18-year high in August

Improvements in demand continued to underpin robust increases in factory orders and production

India's current account deficit narrowed to 0.2% of GDP in Q1 FY26

India's CAD narrowed to $2.4 billion in Q1FY26 from $8.6 billion a year ago as remittances surged 18% and services exports rose, offsetting a wider merchandise trade deficit