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 conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
Banks are receiving requests for cancellation of approved car loans, in view of the implementation of GST rate cut, which will lower the price of passenger vehicles and also lead to subsequent reduction in the amount needed to purchase them. It is to be noted that the 56th GST Council meeting earlier this month, approved substantial reduction in the GST rate for cars for up to 1,200 cc to 18 per cent from the existing 28 per cent.
Festivals also contribute to the rise in overall automobile retail sales, says dealers association.
'Customers do not recover the original making charges paid on old jewellery. Sentimental value is lost when heirlooms are exchanged.'
Prime Minister Narendra Modi lauded the GST Council's overhaul of the Goods and Services Tax (GST) regime, calling it 'GST 2.0' and a significant boost for national growth. He highlighted the simplification of the tax system and the introduction of new rates.
'It has always been viewed as a hedge against inflation.'
Union Minister Nitin Gadkari has called for Indian companies to form joint ventures with US companies to leverage new technologies, while also expressing an ambitious target to make India's automobile industry the world's number one within five years.
'High taxes have kept away art collectors who will now embrace the new GST.'
'You have seen the retrenchments by big corporates in the IT industry because they are not getting enough offers.' 'MSMEs in the manufacturing sector are really struggling. They do not know what to do. They are not able to predict what will happen tomorrow.'
Indian carmakers experienced a robust start to the new fiscal year, with an estimated 4.5 lakh passenger vehicles sold in April, marking a 27 per cent increase year-on-year, attributed to factors like GST 2.0, repo rate cuts, and income tax benefits.
Prime Minister Modi urged the people of the country to take pride in selling and buying indigenous goods.
The demand for passenger vehicles (PVs) is expected to sustain even beyond the ongoing festival season as a new set of customers, those who gained confidence to buy cars following the recent GST rate cuts, will begin to visit dealerships now, said Shailesh Chandra, president of the Society of Indian Automobile Manufacturers (Siam), on Wednesday.
Opposition-ruled states warn of steep annual losses; Centre assures higher consumption will offset revenue hit.
"There is a sharp jump that we have seen in bookings of EVs... The jump, at least in our case, in just two months, it is about 2 to 2.5 times of what it used to be"
'We are seeing a lot of people with helmets visiting our showrooms.'
Delhi Police busted an illegal forex trading call centre in Indore, arresting six individuals involved in defrauding victims nationwide through fake online investment schemes. The syndicate allegedly used a fake trading platform to lure people into investing in forex and online trading products, showing fabricated profits and gains.
A Nigerian national was arrested in Delhi by the Uttar Pradesh STF for allegedly creating fake profiles of US and UK citizens on social media and cheating victims on the pretext of sending expensive gifts and foreign currency.
rediffGURU T S Khurana answers readers' personal income tax queries
If one has to compare the tenures of the two prime ministers one must credit Nehru with laying the foundations on which Modi is building a grand edifice, asserts Colonel Anil A Athale (retd).
Victory wrested from regime that only listens when forced, the TMC said on GST exemption on insurance.
HDFC Life Insurance reported a 4 per cent year-on-year increase in net profit to Rs 495.6 crore for Q4FY26, while its parent, HDFC Bank, announced a Rs 1,000 crore preferential share issuance to raise its stake to 50.5 per cent.
The Aam Aadmi Party (AAP) held protests across Punjab against the Enforcement Directorate's (ED) action against state minister Sanjeev Arora, accusing the central government of misusing agencies against its leaders. The BJP criticised the AAP workers' behaviour during the protests.
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.
With lower GST rates taking effect, fast-moving consumer goods players face challenges in setting reduced prices for their products in round figures, but expect the magical price points to be restored within two months.
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.
Gross GST collection rose 9.1 per cent to over Rs 1.89 lakh crore in September on the back of increased sales due to rate rationalisation, as per government data released on Wednesday.
Domestic passenger vehicle dispatches in India rose 25.4 per cent year-on-year to 4,37,312 units in April, continuing the strong demand momentum from the previous fiscal year, according to SIAM.
The Enforcement Directorate (ED) has identified a Grenadian man based in Dubai as the 'beneficial owner' of a Delhi-based company involved in a large-scale betting, gaming, and cyber fraud-linked money-laundering operation in India.
The government's move to cut GST on medicines and medical devices while exempting lifesaving drugs from the levy is a bold step that will bring direct relief to patients and families while significantly reducing financial strain on them, pharmaceuticals and healthcare industry players said on Thursday.
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...
Foreign portfolio investors sold stocks worth Rs 1.42 trillion in 2025, with their sales hitting Rs 12,257 crore in the first four trading days of September.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
The reduction in the goods and services tax (GST) rates has increased the momentum in India's economic activity both on the supply and demand sides, while robust agricultural activity - reflected in the strong onset of rabi sowing and adequate reservoir levels - has reinforced the outlook for food supply and rural incomes, the finance ministry said on Thursday.
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.
India's auto retail sector achieved record-breaking sales of 2,96,71,064 units in FY26, a 13.3% increase, primarily driven by the implementation of GST 2.0 which reduced the tax burden on mass-segment vehicles, according to the Federation of Automobile Dealers Associations (FADA).
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.
Union Finance Minister Nirmala Sitharaman on Wednesday said the Next Gen GST reforms have infused Rs 2 lakh crore into the economy, which has left people with more cash on hand, which otherwise would have gone to taxes.
The Centre has proposed exempting life and health insurance policies for individuals from GST, Bihar Deputy Chief Minister and convenor of insurance GoM Samrat Choudhary said on Wednesday. Currently, health and life insurance premium attracts 18 per cent GST.
IRCTC is expanding its payments arm, IRCTC Payments, to handle transactions across its ticketing platform and tap government clients, aiming to scale its annual payment processing to approximately 1 trillion.
