Economy

Representative image | Photo Credit: Getty images/iStockphoto The healthcare industry has welcomed the government’s move to reduce GST on medicines and medical devices, calling it a progressive reform that will directly benefit patients by lowering treatment costs, improving affordability, and expanding access to essential medical technologies. While healthcare services provided by doctors, hospitals, and diagnostic…

Prime Minister Narendra Modi addresses the gathering during a meeting with National Awardee Teachers at his official residence in New Delhi. | Photo Credit: X/@NarendraModi via PTI GST 2.0 is a double dose of support and growth for the nation and the next-generation reforms have been done to support India’s progress in the 21st century,…

gst,Goods and Services Tax | Photo Credit: shylendrahoode The Goods and Services Tax Council approved rate cuts for several food products, consumer electronics, products in the agriculture sector, renewable energy, textile, health and more on Wednesday (September 3, 2025). After the rationalisation, the GST system is now made of two rates – 5% and 18%…

Finance Minister Nirmala Sitharaman on Wednesday (September 3, 2025) unveiled tax cuts for hundreds of consumer items – from soap to cars – in the biggest overhaul of the Goods and Services Tax (GST), set to take effect from September 22. Briefing reporters after a marathon daylong GST Council meeting, Ms. Sitharaman said all decisions…

GST reforms to provide relief to families, ease compliance for businesses: India Inc India Inc on Thursday hailed the GST Council’s “forward-looking decisions” — moving to two rates of 5 per cent and 18 per cent from 22 September, simplifying refunds and MSME procedures, and exempting individual life and health insurance from the indirect tax…

The GST Council approved limiting slabs to 5% and 18% effective from September 22, the first day of Navaratri. Image for representation only. | Photo Credit: The Hindu Small cars and entry-level bikes are set to get cheaper as the GST Council on Wednesday (September 3, 2025) approved a complete overhaul of the tangled Goods…

 The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. File. | Photo Credit: PTI The free trade agreement between India and four-European nation bloc EFTA, which will come into force from October 1, will have legally binding provisions on trade and sustainable development, Switzerland said on Wednesday (September 3,…

The Goods and Services Tax (GST) Council, during its 56th meeting, decided to revamp the tax structure into a primarily two-rate system, as proposed by the Central government, Union Finance Minister Nirmala Sitharaman announced on Wednesday. She added that the decisions would come into effect from September 22 for most items. Only tobacco and tobacco-related…

The Government has set up a committee to examine the tax and export clearance issues being faced by manufacturing units and suggest measures to further streamline the system amid high tariffs imposed by the U.S., an official has said. The Committee includes representatives from the Finance Ministry, Department for Promotion of Industry and Internal Trade…

Highlighting the devastating impact of the Pahalgam terror attack on the economy of Jammu and Kashmir, Chief Minister Omar Abdullah on Wednesday (September 3, 2025) sought the Centre’s support to deal with the situation. The Union Territory (UT) was facing a severe fiscal crisis as its public revenues had “collapsed” in the aftermath of…