'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.'
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 GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
'Karur could still impact Jana Nayagan's box-office success if Vijay and the TVK do not get their act together,' points out N Sathiya Moorthy.
'The heat shield technology for re-entry vehicles was first mastered in DRDO for the Agni missile.' 'This is why the Americans were so opposed to Agni in the 1980s, unlike other missiles -- it was a re-entry vehicle.'
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.
'Both initiatives are welcome moves and we would commit ourselves with focused attention aligned with the national priorities, and pursue our exploration initiatives.'
If India caves in to US pressure as Trump hopes it will, he will further try to blackmail it into submission, points out Ramesh Menon.
A quiet but consequential power struggle has erupted within the storied 156-year-old Tata Trusts just a year after the death of group patriarch Ratan Tata on October 9, 2024.
Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London for the signing of the free trade agreement between India and the UK on July 24, an official said on Monday. The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
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.
Finance Minister Nirmala Sitharaman is set to create history when she presents her seventh straight Budget on Tuesday for the fiscal 2024-25, surpassing the record of former prime minister Morarji Desai. Sitharaman, who will turn 65 next month, was in 2019 appointed as India's first full-time woman finance minister when Prime Minister Narendra Modi won a decisive second term.
The Rs 1-trillion Research Development and Innovation (RDI) fund, which was announced in the July budget for FY25, of which Rs 20,000 crore has already been allocated, will be operationalised in the next two to three months, a top official said.
Vice President V V Giri's resignation in 1969 triggered political upheavals that saw the ruling party defy its own presidential nominee, the expulsion of a sitting prime minister by her party president, and a historic split in the Indian National Congress, recounts Utkarsh Mishra.
Jaishankar said that the Pahalgam attack "was an act of economic warfare. It was meant to destroy tourism in Kashmir, which was the mainstay of the economy. It was also meant to provoke religious violence because people were asked to identify their faith before they were killed."
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Former Indian Prime Minister Manmohan Singh passed away on Thursday night at the age of 92. He was brought to the emergency department of AIIMS Delhi in critical condition after "sudden loss of consciousness."
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.
'That way you're not hostage just to US sort of exports to India.'
In the last 11 years, India and the world witnessed what he stood for, what he promised and did not deliver, and what he actually stood for and practised without fearing how history would judge him. Modi's tenure has been punctuated with headline-grabbing decisions, symbolic gestures, and stage-managed moments that continue to define his leadership and India's politics, points out Ramesh Menon.
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers. However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
Modi, who visited Cyprus in the first leg of his three-nation visit, reiterated India's support for Cyprus's unity and for a peaceful resolution of the Cyprus Question based on UN Security Council resolutions, international law, and the EU Acquis.
Patel emphasised that one of the most important features of the bill is the establishment of a dedicated tribunal for resolving disputes, reducing the burden on the judiciary and ensuring quicker justice.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
'The finance minister has done as much as she can when you look into the fiscal constraints she had.'
'They wanted the city to be a great business hub. They didn't like the fact that taxes collected in Bombay would go outside the city.'
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
Union Finance Minister Nirmala Sitharaman on Monday said people are finding current interest rates "very stressful" and urged banks to make them affordable. Speaking at an event organised by State Bank of India, the finance minister said that at present, India requires industry to ramp up and invest in new facilities, and added that lowering lending rates can help achieve the "Viksit Bharat" aspiration.
The new government that presents the full Budget for 2024-2025 in July should be ready to restructure the way divestment is managed and implemented, proposes A K Bhattacharya.
Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
India and New Zealand have signed a pact to institutionalize their defence ties and vowed to boost cooperation in the Indo-Pacific. Prime Minister Narendra Modi raised concerns about anti-India activities by some illegal elements in New Zealand with his Kiwi counterpart Christopher Luxon. The two sides also signed six agreements to enhance cooperation in areas including education, sports, agriculture, and climate change. They also agreed to prepare a roadmap for cooperation in the defence industry sector and explore early implementation of cooperation in the digital payments sector.
UK Chancellor of the Exchequer Rishi Sunak has written to his boss, Boris Johnson, to be referred to one of the British Prime Minister's independent advisers to review all his ministerial declarations of interest amid a row around his family's tax affairs. The Indian-origin finance minister, who has been fighting back attacks over wife Akshata Murty's tax arrangements in India and also Opposition allegations around his own finances, said in a Twitter post on Sunday that he is confident the independent review by House of Lords peer Christopher Geidt, the Independent Adviser on Ministers' Interests, will provide "further clarity". "My overriding concern is that the public retains confidence in the answers they are given and I believe the best way of achieving this is to ensure those answers are entirely independent, without bias or favour," Sunak states in his letter to Johnson.
He added, "You can never trust Pakistan as long as the Pakistani deep state, Pakistani ISI, Pakistani military's objective is to destabilise Bharat."
Finance Minister Nirmala Sitharaman on Thursday said the government is close to reaching saturation in implementing social sector schemes designed to provide basic necessities to the poor. Addressing the students of Hindu College on the occasion of its 125th anniversary, she said the time has come for India to become economically 'aatmanirbhar' (self-reliant) and march forward to becoming a developed nation by 2047. Regretting that 60 years since Independence passed without any sense of urgency, Sitharaman said, "We have laid the material foundation for a Viksit Bharat" and empowering people by providing basic necessities to all.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
'It took us 75 years to reach a per capita income of $2,730.' 'According to IMF projections, it will take only five years to add another $2,000.'
Given the possibilities that next year's assembly elections could throw up, Stalin told the state assembly that an interim report had to be submitted by January 2026. The outcomes may well find its way into the DMK's poll manifesto, thus seeking to keep the electoral focus still on the BJP-ruled Centre and Prime Minister Modi, observes N Sathiya Moorthy.
'It won't be a V-shaped recovery. It'll be consolidation.' 'Investors might exit during that grind. It'll be painful.'
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