Page 130 - Economy
India, Russia seek to increase trade to $100 billion as US ties fray
Indian External Affairs Minister Subrahmanyam Jaishankar said Wednesday during a visit to Moscow that the two countries must remove trade bottlenecks and reduce non-tariff barriers
 "India, Russia seek to increase trade to $100 billion as US ties fray")
Retail inflation for farm, rural workers ease to 0.77 pc, 1.01 pc in July
The Food Index increased by 1.94 points for Agricultural Labourers (AL) and 2.16 points for Rural Labourers (RL) in July 2025
 "Retail inflation for farm, rural workers ease to 0.77 pc, 1.01 pc in July")
India flash PMI surges to 65.2 in August on record services, mfg growth
Services led the growth, with activity hitting a record 65.6, while manufacturing preliminary PMI climbed to 59.8 in August, its strongest level since January 2008
 "India flash PMI surges to 65.2 in August on record services, mfg growth")
US tariffs may lower India's growth by 30 bps over a year, says HSBC report
Along with the 25 per cent tariff in effect, the US had imposed an additional 25 per cent penalty on India for importing crude from Russia
 "US tariffs may lower India's growth by 30 bps over a year, says HSBC report")
Amid US tariffs, EAM urges Russian firms to deepen engagement with India
Jaishankar highlighted India and Russia's steady ties, urging more strenuous efforts to diversify and balance trade between the two nations
 "Amid US tariffs, EAM urges Russian firms to deepen engagement with India")
RBI's MPC minutes: Status quo in August hinged on tariffs, rate-cut outcome
All the six members of the MPC unanimously decided to keep the policy repo rate unchanged at 5.5 per cent while maintaining the "neutral" stance
 "RBI's MPC minutes: Status quo in August hinged on tariffs, rate-cut outcome")
Online gaming Bill puts no liability on gamers: Union Minister Vaishnaw
The online gaming sector comprises three segments, namely e-sports, online social gaming, and real-money games, said Ashwini Vaishnaw
 "Online gaming Bill puts no liability on gamers: Union Minister Vaishnaw")
GoM to propose GST exemption on health, life insurance for individuals
Telangana Deputy Chief Minister Mallu Bhatti Vikramarka, who is member of the GoM, said every state wanted health and life-insurance premiums to be exempt from GST
 "GoM to propose GST exemption on health, life insurance for individuals")
RBI shifting towards principle- and outcome-based regulatory framework: Rao
RBI Deputy Governor M Rajeshwar Rao said the central bank is gradually transitioning to a principle- and outcome-based regulatory framework to ensure flexibility and resilience
 "RBI shifting towards principle- and outcome-based regulatory framework: Rao")
India, Eurasian Economic Union sign terms to launch trade negotiations
Russia dominates grouping with more than 92% share in India's trade
 "India, Eurasian Economic Union sign terms to launch trade negotiations")
India, Eurasian Economic Union ink terms of reference for trade pact talks
The five members of the Eurasian Economic Union (EAEU) are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia
 "India, Eurasian Economic Union ink terms of reference for trade pact talks")
Centre for exempting insurance premium from GST: Samrat Choudhary
Currently, health and life insurance premium attracts 18 per cent GST
 "Centre for exempting insurance premium from GST: Samrat Choudhary")
Russia invites Indian exports as US tariffs hit trade, defends oil ties
Russia said Indian goods are welcome in its market as the US raises tariffs; a top Russian diplomat defended India's oil imports and called Western sanctions unfair and one-sided
 "Russia invites Indian exports as US tariffs hit trade, defends oil ties")
Indian Oil, BPCL resume buying Russian oil for September as discounts widen
Discounts for Russian flagship Urals crude have widened to about $3 per barrel, making the oil attractive for Indian refiners, while China has stepped up purchases, the officials said
 "Indian Oil, BPCL resume buying Russian oil for September as discounts widen")
Explainer: Why govt disbanded the NAA and why GST 2.0 may revive it
The Centre is considering reviving anti-profiteering provisions for two years to ensure consumers benefit from GST rate cuts
 "Explainer: Why govt disbanded the NAA and why GST 2.0 may revive it")
MSMEs in textiles, diamonds, chemicals to be most hit by US tariffs: Report
The MSMEs have more than 70 per cent share in these sectors and will be hit hard, the report said
 "MSMEs in textiles, diamonds, chemicals to be most hit by US tariffs: Report")
Export curbs ease positive, India must cut reliance amid $100 bn gap: GTRI
It said that between 2014 and 2024, China's dominance over India's import landscape only widened
 "Export curbs ease positive, India must cut reliance amid $100 bn gap: GTRI")
GoM meet today: What's on agenda as Centre pushes 2-slab GST reform plan
Finance Minister Nirmala Sitharaman to explain Centre's plan for two GST slabs of 5 per cent and 18 per cent, with a 40 per cent rate on select goods
 "GoM meet today: What's on agenda as Centre pushes 2-slab GST reform plan")
Trump imposed tariffs on India to deter Russia's war in Ukraine: Leavitt
Trump doubled India's tariff rate to 50 per cent for its continuous purchase of Russian energy at a time when the US President has been trying to broker a ceasefire deal between Russia and Ukraine
 "Trump imposed tariffs on India to deter Russia's war in Ukraine: Leavitt")
Govt likely to revive anti-profiteering rules under GST 2.0 overhaul
Anti-profiteering provisions were first introduced in 2017, when GST replaced multiple indirect taxes and several items had lower tax incidence
 "Govt likely to revive anti-profiteering rules under GST 2.0 overhaul")