These changes certainly bring India's GST a lot closer to what an ideal GST would look like, points out Karan Bhasin.
Opposition-ruled states warn of steep annual losses; Centre assures higher consumption will offset revenue hit.
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
Finance Minister Nirmala Sitharaman on Monday introduced the Taxation Laws (Amendment) Bill, 2025, which aims to provide tax exemptions to subscribers of the Unified Pension Scheme.
The Congress party has criticized Prime Minister Narendra Modi's handling of GST reforms, calling them inadequate and demanding an apology for the tax imposed on essential items. They argue that the reforms are merely a 'band-aid' solution and that the government should address the states' demand for extended compensation.
Though the party has made no announcement, former chief minister Devendra Fadnavis, the deputy chief minister in the outgoing government, is being seen as the frontrunner for the key position.
The finance ministry on Friday said it has proposed a two-slab GST rate structure to the Group of Ministers (GoM), along with special rates for select items.
Public sector banks (PSBs) have seen a sharp drop in household deposits from 70.6 per cent to 63 per cent in contrast with private banks, which witnessed a surge from 27.1 per cent to 34.1 per cent.
RJD leader Tejashwi Yadav has accused the Election Commission of colluding with the BJP to steal votes in Bihar ahead of the assembly polls. He also alleged that the poll panel was helping BJP leaders secure two voter cards.
To ensure a glitch-free rollout of the next-generation GST with reduced rates and lesser slabs, Finance Minister Nirmala Sitharaman chaired three separate meetings to assess GSTN's preparedness and the time it would take to implement technological changes required in the software systems.
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
'If the BJP detoxifies the nuclear liability law, it will bring economic, environmental and, most of all, strategic benefits.' 'Let's keep our fingers crossed and hope that this Budget promise is met soon -- ideally, before Mr Modi heads to his first meeting with Trump 2.0,' observes Shekhar Gupta.
According to police, a first information report (FIR) was registered under Sections 384 (punishment for extortion) and 120B (criminal conspiracy) read with 34 (acts done by several persons in furtherance of common intention) against Union minister Nirmala Sitharaman, Enforcement Directorate officials, office-bearers of the Bharatiya Janata Party at state and national level, based on the order of a special court.
'It is not rigidity.' 'I am just sticking to what I believe very strongly in, particularly if you have been given an opportunity to serve the country....'
Union Minister Nityanand Rai launched a scathing attack on Congress, stating that the party takes "pleasure" in insulting Bihar and its people.
The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
The two weeks that EPS took fending off the Sengottaiyan rebellion has since become lost time for the AIADMK as that was also the time Vijay took to go all-out against Stalin and the DMK, observes N Sathiya Moorthy.
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
The Budget should undertake further reductions in import tariffs and seriously consider an announcement of India's intention to join one or both of the two Asian mega-regional free trade agreements, suggests Shankar Acharya, former chief economic adviser to the Government of India.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
The Budget assumes significance as it comes on the back of lower-than-expected growth numbers during the second quarter and geopolitical uncertainty.
'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses.
The RJD leader on Wednesday had accused senior BJP leader and Muzaffarpur Mayor, Nirmala Devi and her two relatives of "having dual voter ID cards".
Amit Shah seemingly encouraging AIADMK dissident Sengottaiyan after party boss Edappadi K Palaniswami had removed his one-time mentor from all party posts has not gone down well with party cadres. They are now ready to buy Team EPS' theory that the BJP and Amit Shah are out to liquidate the AIADMK, points out N Sathiya Moorthy.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
Leading automakers Maruti Suzuki, Hyundai, Mahindra, and Tata Motors saw a dip in dispatches to dealers in August amid dip in demand with many prospective buyers postponing their buys anticipating a reduction in vehicle prices on account of the new GST framework. The country's largest carmaker Maruti Suzuki India reported an 8 per cent year-on-year dip in dispatches of passenger vehicles in the domestic market last month.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
Finance Minister Nirmala Sitharaman paid homage at the Rezang La War Memorial at Chushul in Ladakh on Tuesday, June 17, 2025.
'To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date.'
India beat Iraq 5-0, a step away from Women's Asian Cup qualification
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
State-owned banks are prioritising local language skills in their hiring to improve customer service and reduce language barriers.
The BJP flayed Gandhi for "echoing" Trump's "dead economy" jibe at India, calling it a "shameful" insult to the aspirations, achievements, and well-being of the people of the country.
'There is no retrospective changing of the law, only its simplification.'
With inflation comfortably below the Reserve Bank of India's (RBI's) 4 per cent median target and likely to undershoot its 3.7 per cent projection for 2025-26 (FY26), there is room for the monetary policy easing cycle to be sustained, the Finance Ministry said on Monday. The comments, featured in the ministry's Monthly Economic Review for June 2025, assume significance ahead of the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) scheduled to begin from August 5.
'We have to retain some fiscal headroom without compromising on the promised fiscal consolidation roadmap.'
The FIR, filed in December 2022 by M G Nagaraja, alleged that the 24-year-old Paris Olympian, along with his brother Chirag Sen, had fudged their age to get into playing age-group tournaments since 2010.
'As a result of delays, the desired reliefs are not coming for taxpayers.'
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