Despite a strong 7.8 per cent growth in the first quarter, the Indian economy is expected to grow at 6.5 per cent in the current financial year as the impact of US tariffs on Indian exports will reduce prospects, particularly in the second half, ADB said on Tuesday.
The US remains the largest market for IT outsourcing, and for Indian giants TCS, Infosys and Wipro, it contributes around 40 per cent of their top line.
On the back of robust tax collection, the ratio of direct taxes to gross domestic product (GDP) this financial year is likely to be the highest in this century so far. This, along with strong goods and services tax (GST) collection, may drive up receipts from central taxes as a proportion of GDP to the highest level or close to the highest since 2008-09 despite subdued excise and customs duty receipts. This will be due also to lower nominal GDP projected in the first advance estimates for 2023-24.
The Central Bureau of Investigation (CBI) has initiated an inquiry into alleged violations of the Foreign Contribution (Regulation) Act (FCRA) against an institution founded by Ladakh-based educationist and activist Sonam Wangchuk. The inquiry follows a complaint from the Ministry of Home Affairs regarding the Himalayan Institute of Alternatives Ladakh (HIAL).
In addition, exporters will also get a refund on the service tax paid on courier services used by them to transport goods and documents.
Despite the benefits of hybrid technology, a lack of government backing and few launches have kept the segment from gaining ground.
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
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'Any earnings, regardless of location, will be subject to Indian income tax.'
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, which the government said shows resilience of the Indian economy and the effectiveness of cooperative federalism. The gross GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017. The net mop-up was Rs 1.92 lakh crore.
'We have now drastically simplified it, primarily to two rates in long-term capital gains: 20% and the applicable rates. Similarly, in short-term capital gains.' 'For listed shares, there is a slight increase, but for unlisted shares, where indexation benefits are removed, there is a reduction in rates, benefiting unlisted companies, venture capital firms, etc.' 'Similarly, in real estate, wherever returns are higher, the new structure is beneficial. In very few cases, returns are lower, and those are more of an exception.'
From the Sensex firms, Infosys climbed 3.86 per cent. HCL Tech, Tata Consultancy Services, Axis Bank, Kotak Mahindra Bank, Titan and Tech Mahindra were also among the gainers. However, Eternal, UltraTech Cement, Bharti Airtel and Adani Ports were among the laggards.
The World Bank has asked the government to cut a slew of duties, including entertainment tax on broadband Internet connections in some states, on telecom services.
The government has asked manufacturers to revise the maximum retail price (MRP) on unsold stocks in line with the change in GST rates. The government has reduced GST on various products and services, which will come into effect from September 22.
Leading hospital chain Apollo Hospitals Enterprises Ltd (Ahel) has posted a consolidated net profit of Rs 477 crore during the second quarter this financial year, up 26 per cent from Rs 379 crore during the same period last financial year.
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The average Indian worker must labour for an extraordinary 160 full working days to afford Apple's latest iPhone 17 Pro.
"The new structure will substantially reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said presenting what was dubbed as 'reformist' budget for the next fiscal in Lok Sabha.
State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
The panel, headed by the Union finance minister and comprising of representatives of all states and UTs, decided on tax rate based on recommendation of a group of ministers that looked at taxing casinos, horse racing and online gaming.
Top real estate developers are expected to report improved earnings and resilient presales growth, even as overall housing sales across major Indian cities declined during the July-September quarter (Q2) of 2025-26. The anticipated earnings growth in what is typically a subdued quarter is credited to steady sustenance sales, improved collections, the strong positioning of listed developers, and sustained demand for premium homes.
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
'In the long run, India's strong growth story and reforms to make assets globally attractive will determine the rupee's resilience.'
FSN E-Commerce Ventures Ltd, the parent company of beauty retailer Nykaa, recorded a 3.4x growth in net profit at ~34.43 crore in the second quarter of FY26, up from ~10.04 crore in the corresponding period last year.
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DGCA provided temporary relief to IndiGo, which is partially owned by Rahul Bhatia, by rolling back the night duty definition to 12 am-5 am from 12 am-6 am earlier, and allowing its pilots to do six night-landings from two earlier, besides other relaxations.
India needs Goods and Services Tax (GST) Council-like common platforms between states and the Centre in areas such as land clearances, power, and water to fast-track infrastructure projects to achieve double-digit growth going ahead, said Praveer Sinha, chief executive officer and managing director of The Tata Power Company.
Reduction of GST on health insurance premium from 18% to 0% looks like a straight 18% reduction in what consumers pay. The truth, however, is...
Traders in Karnataka are raising concerns over GST demand notices based on UPI transaction data. A tax official defends the action, stating it's within the law and recipients can respond with documentation.
'I am doing the drive in making sure that people pass this on. So the drive is not with distrust. The drive is just in case.' 'Just in case it doesn't get passed on, I am here.'
The wife of a deputy commissioner of GST in Ghaziabad, who allegedly committed suicide, has claimed that her husband was under "immense work pressure" and denied that he had stage four cancer. The incident took place on Monday when Sanjay Singh (59) jumped from the 15th floor of a building. Singh's wife, Aparna Singh, told reporters that he was a "victim of the system." His cousin, Dhananjay Singh, confirmed that Singh had been diagnosed with prostate cancer at an early stage and had been cured.
While the economy will wait for a rate cut in December, the banking industry should be happy with the wave of liberalisation -- a big push for growth in bank credit, points out Tamal Bandyopadhyay.
