The 3.5% tax proposal itself was a reduction brought into the Act in May from the original proposal of 5%. Image for representation. | Photo Credit: Getty Images/iStockphoto U.S. legislators have significantly diluted the provision in the proposed legislation to tax remittances to other countries, including to India. The latest version of the Bill, released…
The Department of Economic Affairs report said that the Indian economy may experience “nervous but exciting times” in the days ahead. Image for representation. | Photo Credit: Reuters It is too soon to sound the ‘all clear’ on the risk of rising oil prices, even though the risk from the Israel-Iran conflict has receded following…
The Finance Ministry has asked public sector banks (PSBs) to look at monetising their investment in subsidiaries by listing them at bourses after further scaling up operations so that they realise good return. There are about 15 subsidiaries or joint ventures of PSBs lined up for initial public offering or divestment in medium to long…
Image used for representation purpose only. A PwC report said that the GST council should reduce tax slabs to three and broaden the base by bringing petroleum products under the GST. | Photo Credit: The Hindu The GST Council, comprising Finance Ministers from the Centre and States, should simplify compliance, reduce tax slabs to three,…
Representational image of a person holding U.S. and India’s flags at the White House. File | Photo Credit: Reuters India has hardened its position on issues related to agriculture as negotiations with the U.S. team in Washington have entered a crucial stage, an official said on Monday (June 30, 2025). The official also said that…
During the April-May period of FY26, industrial production grew by 1.8% compared to 5.7% a year ago. | Photo Credit: Getty Images/iStockphoto India’s industrial production growth slowed to a nine-month low of 1.2% in May 2025 due to poor performance of manufacturing, mining and power sectors, according to official data released on Monday (June 30,…
According to the report, the soundness and resilience of scheduled commercial banks are bolstered by robust capital buffers, multi-decadal low non-performing loans ratio and strong earnings. File | Photo Credit: Reuters Indian economy remains a key driver of global growth on the back of sound macroeconomic fundamentals and prudent policies, the Reserve Bank of India (RBI)…
As the Goods and Services Tax (GST) completes eight years of implementation on July 1, tax experts acknowledge its successes but say a lot more work needs to be done in terms of simplification and rationalisation of rates. Among the big reforms suggested are the inclusion of fuel in the GST regime, the reduction in…
The manufacturing sector saw its growth rate nearly halving to 2.6% in May 2025 compared to 5.1% in May 2024, and 3.1% in April 2025. | Photo Credit: Reuters Growth in industrial activity in India slumped to a 9-month low of 1.2% in May 2025, with the mining, electricity, primary goods, and consumer goods sectors…
A worker cuts a metal pipe at a workshop in an industrial area in the old quarters of Delhi. Image for representational. | Photo Credit: Reuters Manufacturing activity rose to a 14-month high in June 2025 on the back of strong export orders, according to a private sector survey. The HSBC India Manufacturing Purchasing Managers’…
