BUSINESS
GST Reforms and Policy Easing Set to Drive India’s Consumption and Domestic Demand: Morgan Stanley
The report emphasized that the new GST framework would have a major impact on economic growth, budget dynamics, and Consumer Price Index (CPI) inflation, thus influencing future monetary policy action.
Govt Considers GST Overhaul: 5% Rate for Essentials, 40% for Luxury and Sin Items
Under the new changes, almost 99% of products which are now taxed at 12% will likely be shifted to the 5% slab, while approximately 90% of products falling in the current 28% slab will likely get shifted to the new 18% slab, the sources told PTI.
SBI Research Says S&P’s Positive Growth Forecast for India Comes as No Surprise
The report says S&P's real GDP growth forecast of 6.5% is quite realistic in contrast to other projections.
Sensex, Nifty Gain 1% This Week Despite Tariff Worries
Market mood was supported by expectations ahead of the meeting between US President Donald Trump and Russian President Vladimir Putin in Alaska. Investors are optimistic that the negotiations could result in a Russia-Ukraine ceasefire and potentially eliminate the extra 25% tariff imposed on India.
‘Economic Selfishness on the Rise’: PM Modi Speaks Amid Trump Tariff Tensions
Addressing the nation from the Red Fort on Independence Day, Mr. Modi assured that the government would protect the interests of farmers and oppose any policies that would hurt them. His statement comes amid growing trade tensions between New Delhi and Washington after the US decided to increase duties on Indian products to 50 percent.
By end of year, 'Made in India' semiconductor chips will be in markets, says PM Modi
Placing his speech against the backdrop of the theme Naya Bharat, Modi emphasized that the 21st century is technology-oriented, and India needs to lead the way in key areas like semiconductors, artificial intelligence, and clean energy.
GST Overhaul on the Cards Before Diwali, Says PM Modi, Calling Review ‘Need of the Hour’
Addressing from the Red Fort on Friday, PM Modi stated, "We have decided to create a task force for next-generation reform. Our goal now is to bring about all types of reforms."
Finmin Calls S&P Upgrade a Strong Validation of India’s Economic Growth and Fiscal Discipline
It is the first time in 18 years that S&P has upgraded India's sovereign rating, with the earlier upgrade in 2007 when India was upgraded to investment grade at BBB-, as per a statement issued by the ministry.
No pause on Russian oil imports, India continues imports based on economic rationale, says IOC Chairman
Barrels of Russian crude like Urals can differ from month to month based on available discounts. Earlier, the discounts had narrowed up to USD 40 per barrel, but they closed in at only USD 1.5 towards the end of last month, resulting in reduced imports. The discounts have increased again recently to about USD 2.70. Nevertheless, India's resolve to keep importing Russian oil continues undeterred.
India-US Trade Sees Growth: Exports Up 20%, Imports Rise 13.78% in July
India's exports to the US during April-July increased 21.64% to USD 33.53 billion, while imports grew 12.33% to USD 17.41 billion.
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