He was commenting on a reply given by Jaitley to a question in Rajya Sabha.
Two-wheeler (2W) major Bajaj Auto on Friday posted its highest ever quarterly revenue and profit during the third quarter of 2025-26 (Q3FY26). Bajaj Auto's consolidated net profit for the quarter grew by 25 per cent year-on-year (Y-o-Y) to Rs 2,749 crore, with the revenue also growing 23 per cent to Rs 16,204 crore.
Rural India outpaced urban centres in passenger vehicle sales in 2025, recording a growth of 12 per cent compared with 8 per cent in cities.
Afghans have deep self-respect and are the last people to put up with humiliation. Is it any surprise that relations between Afghanistan and Pakistan have touched an all-time low and the two countries are now at war? asks M R Narayan Swamy.
India's main inflation measure, the Consumer Price Index (CPI), is set for another major update, even though it has been in its current form for only about 15 years.
The life insurance industry recorded nearly 40 per cent year-on-year (Y-o-Y) growth in new business premiums (NBP), aided by the rationalisation of goods and services tax (GST) on individual life insurance premiums, which has made policies more affordable for consumers.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
The Delhi High Court has asked the central government why it cannot reduce the GST on air purifiers, considering the poor air quality in Delhi. The court's concern is that the current 18% GST makes air purifiers unaffordable for the common man.
Hindustan Unilever Limited's (HUL's) standalone revenue grew 4.4 per cent year-on-year (Y-o-Y), while volume rose 3.5 per cent during the third quarter of financial year 2026 (FY26).
The turning point came with the appointment of Sergio Gor as the US ambassador to India.
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
Stocks to watch: Container Corp, Snowman Logistics & Transport Corp
Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
Private sector lender IDFC First Bank has lowered its savings account rates and introduced new slabs for small and medium balance categories, effective January 9, 2025, as per its website. The interest slabs and rates for higher balance accounts remain unchanged. Despite the revision, the bank continues to offer one of the highest savings account interest rates in the industry among mid-sized banks.
The market capitalisation of BSE-listed companies eroded by Rs 9,40,581.75 crore to Rs 4,50,61,658.60 crore (USD 4.90 trillion) in a single day.
A nationwide strike called by central trade unions saw a mixed response across India, impacting various sectors and states differently, with some areas experiencing disruptions while others remained largely unaffected.
Seeking to allay fears of traders who have threatened to go on a nationwide strike opposing the service tax, the government on Tuesday said the liability to pay the tax is on goods transport agencies.
FPIs net sold equities worth Rs 1.7 trillion in 2025 -- the highest annual net sale on record.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
The Union Budget, while keeping the service tax rate unchanged at 10 per cent, has expanded its ambit to include services provided by legal consultancy and advisory firms. The tax would, however, not be applicable if the service provider or receiver is an individual.
'Last year, we had about 10 to 12 per cent of Hollywood films as a box-office contribution. This year already, it has jumped up to 24 per cent because the lineup is very strong.'
The share of first-time luxury customers in BMW's portfolio has risen sharply -- from around 43 per cent in 2024 to nearly 49 per cent in 2025. In some models, the figure is even higher.
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
Amid the impending rejig in the goods and services tax (GST) rates, an association representing the country's beverages industry has appealed to the Centre to not classify aerated beverages as sin/demerit good and bring it under the 18 per cent slab while citing their "mass consumption" as a reason.
The government said remittances from abroad will not attract service tax, putting to rest the concerns raised in view of new tax norms.
Banking sector has witnessed healthy growth in advances in the third quarter of financial year 2026 (Q3FY26) against the same period last year, as the full impact of goods and service tax (GST) rate cuts drove growth. Most of the lenders saw their credit growth outpace the deposit growth in the quarter.
The trade policy specifies that "for all goods and services exported from India, services received, rendered abroad, wherever possible, shall be exempted from service tax".
Real GDP growth surprised on the upside in 2025, but weaker nominal growth, trade uncertainty, and soft demand signal a bumpier road ahead.
Providing relief to exporters hit by the rise in rupee value, the government on Monday announced they would be exempted from tax on services rendered by ports, road transport and railways.
India's two-wheeler industry is seen growing 6-9% in 2026, though a proposed ABS mandate for sub-125cc models could push up prices and temper volumes.
Get ready to shell out more for your movie tickets, cricket matches or visits to amusement parks as all recreation services will come under service tax later this year.
Despite a 2.8 per cent fall in 2025 volumes, Mercedes-Benz India reported its best-ever revenue and profitability, led by top-end models, AMG growth and higher BEV mix.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
Wholesale price inflation (WPI) fell to (-) 1 .21 per cent in October, driven by a decline in prices of food articles like pulses and vegetables, as well as lower fuel and manufactured items' prices, government data showed on Friday.
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
President Droupadi Murmu addressed the nation on the eve of Republic Day, emphasising India's role in promoting peace, the empowerment of women, and the country's economic growth.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
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