Monthly gold imports have declined to 25-30 tonnes from 70-80 tonnes while recycling of old jewellery has increased following the recent hike in import duties.
A shift appears underway in India's tax landscape. States with relatively smaller tax collections like Odisha and Telangana are emerging as the fastest-growing contributors to indirect and direct tax collections, respectively.
As of now, no firm has launched a flex-fuel vehicle in India, as these models are more expensive than comparable petrol-run vehicles.
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.
The Budget has given signals that India is sensitive to the US needs and willing to walk the extra mile, but if need be, we should respond in equal measure as a sovereign nation, notes Ajay Srivastava.
Equity markets will take cues from the US tariff related developments, global trends and trading activity of foreign investors this week, analysts said.
Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
It also sought exemption from Research and Development Cess for joint ventures implementing the offset obligations under the Defence Procurement Procedure introduced a couple of years ago to energise the defence market.
Education sector has reasosn to cheer Budget.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
From real estate to metals, what Sitharaman's Budget has in store.
Reinvent and innovate will be the key mantra for the Indian pharma industry in the New Year as the 'pharmacy of the world' looks to move from volume to value leadership, amid emerging challenges of inflation and pricing pressures in the global markets. While R&D investment, market competitiveness, regulatory scrutiny, and domestic price regulations are expected to shape the growth of generics and injectable products, concerns such as price control and customs duties on medical equipment will continue to bother the healthcare industry in 2023. The industry believes that in view of India's G20 Presidency, digital health innovation, achieving universal health coverage, improving healthcare infrastructure and delivery will continue to be the key driving factors in 2023.
As spending on infrastructure has three times the desired impact, the government's Rs 111 trillion National Infrastructure Pipeline should be accelerated: Assocham president, Vineet Aggarwal
Over the years, NHAI's expenses have spiraled due to sharp increase in land acquisition costs, while budgetary support has shrunk, leading it to fall back on internal resources and market borrowings
In September, Bharat Biotech aimed to supply 35 million doses, and take this up to 55 million by October. This is still less than what the Indian government expects from the company.
Earlier, while presenting the Budget on February 1, Finance Minister Arun Jaitley had proposed to cap cash transactions at Rs 300,000 with effect from April 1.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
The government introduced the 122nd Constitution amendment Bill.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
It was better to first build a single-rate GST with a low rate, achieve full mastery of this, and then consider more complex possibilities such as high rates and multiple rates.
Sectors throw up a wishlist for the Finance Minister.
However, truckers have spared other vegetables, fruits, fuel and milk from the strike.
The government's predicament is a result of its own doing: That of not ensuring adequate buy-in by the stakeholders before passage of the laws, notes Vivek Gumaste.
A raise in the I-T exemption limit has been sought by many.
Economists have asked Finance Minister Arun Jaitley to lower interest rate, rationalise subsidies, remove all cess and surcharge, do away with the retrospective tax amendments and scrap dividend distribution tax to revive investment cycle and promote growth.
Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.
Kiran Vissa, co-convenor of National Alliance for Sustainable Agriculture, said that amendments to the EC Act have nothing to do with farmers' welfare but instead meant to please big players and agriculture companies. This is because small and marginal farmers don't have the storage capacity to attract provisions of the EC Act.
In a bid to discourage junk food culture,a 14.5 per cent 'fat tax' on burgers, pizzas and pasta will be levied.
Experts suggest six ways to play stocks that tank suddenly and make money as Sanjay Kumar Singh listens in
'Modi is still immensely popular and, therefore, he can sustain any number of policy failures.' 'Modi himself has worn multiple faces so it would be naive to think that the Modi of 2021 will be the same Modi that will be campaigning for re-election in 2024.'
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
The S&P BSE Sensex surged 364 points to end at 24,607 and the Nifty50 soared 107 points to close at 7,476.
Senior officials say the government might come up with an incentive package for the SEZs following the release of Foreign Trade Policy.
Road Transport Minister Nitin Gadkari known for promoting innovative ideas in transportation, created a stir some time back when he pitched for 100 per cent electric mobility by 2030. In an interview with Megha Manchanda & Jyoti Mukul, he talks about the Central Road and Infrastructure Fund (CRIF) and electric vehicles.
Indian economy about to take-off
A glance back at some important events that occurred in 2018.
