BUSINESS
GST Rate Changes Could Boost Consumption by Rs 1.98 Lakh Cr, Revenue Loss Estimated at Rs 85k Cr: Report
According to the Centre's plan for a 'next-gen GST,' the Goods and Services Tax would have a two-rate system of 5% and 18%, based on whether products are tagged as 'merit' or 'standard.' On top of that, there would be a 40% tax on a small set of 5–7 goods, including demerit ones such as pan masala and tobacco.
India’s Growth Momentum Unshaken by US Tariffs: S&P Global Ratings
The international rating agency upgraded India's long-term sovereign credit rating on Tuesday to "BBB" with a stable outlook, the first such upgrade in 18 years. The move, S&P said, was prompted by strong economic performance, fiscal consolidation, and a monetary policy regime that has proved useful in containing inflation.
India's GDP to Grow at 6.7% in Q1 of FY26, Beating RBI's 6.5% Forecast: ICRA
ICRA estimates gross value added (GVA) growth at 6.4 per cent in Q1 FY2026, from 6.8 per cent in the last quarter, on account of softer performance in industry and agriculture, offset to some extent by resilience in the services sector.
Additional US Tariffs to Impact $48 Billion of India’s Exports, Govt to Safeguard Trade, says Jitin Prasada
The Ministry of Commerce and Industry reported that, in retaliation, India has also levied matching tariffs of 25 per cent on certain US items from August 7, and another round of tariffs kicked in on August 27.
GST Reforms Set to Drive Gains in Auto, Banking, and Cement Stocks: Report
Passenger and commercial cars, whose 28 percent tax is to be reduced to 18 percent, are likely to gain from lower effective prices and increased volumes, "Maruti, Tata Motors, and Ashok Leyland stand to benefit from lower effective prices and increased volumes," wrote the Motilal Oswal Financial Services (MOFS) report.
Gold Futures Climb ₹196 to ₹1,00,034 per 10 Grams
On the Multi Commodity Exchange (MCX), the October contract rose by ₹196, or 0.2 percent, at ₹1,00,034 per 10 grams. The day witnessed a business turnover of 12,789 lots.
Trump likely to back off from high tariffs, stay invested in India, Says by Jefferies
Jefferies' senior analyst Christopher Wood said India continues to be one of the company's strongest recommendations in the current global market environment and the probability of a change in U.S. trade policy. "It is only a matter of time before Trump reverses the stance, which is not in America's interest. On this aspect, it is worth mentioning that the record speaks for itself that it is worthwhile standing up to the Donald," Wood said.
Sensex, Nifty Surge 1.3% as Auto Stocks Drive Market Rally
BSE Sensex went up by 1,056 points, or 1.31 per cent, to close at 81,654, while the NSE Nifty 50 climbed 354 points, or 1.44 per cent, to close at 24,985.
GST Rationalisation May Make Cars and Two-Wheelers Cheaper Ahead of Diwali
As per the report, the suggested restructuring of GST would have meaningful implications for growth, fiscal balances, and Consumer Price Index (CPI) inflation, which will further have implications for monetary policy actions.
GST Cuts to Fuel Long-Term Auto Demand and Job Growth in India: Report
The government is said to be considering a restructuring of the GST slabs, where the 28% rate can be cut to 18% with the abolition of the cess which is being imposed currently on automobiles.
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