NEW DELHI: There is good news for buyers of top consumer segments such as small cars, two-wheelers under 350cc, ACs, TVs (over 32’inches) and dishwashers. The GST Council has cut the GST rates on the products from 28% to 18%, which will see significant cuts in consumer prices.Finance Minister Nirmala Sitharaman said that the decision…
Finance Minister Nirmala Sitharaman on Wednesday announced major Goods and Services Tax (GST) rate cuts, saying that with the two-tier tax rate system approved, the common man will benefit greatly. The GST Council approved the two-tier rate structure of 5% and 18%. The GST rate rationalisation will be implemented from September 22, according to a…
The India-US trade relationship faces challenges as Trump has increased tariffs from August. (AI image) Indian companies are betting on robust demand from smaller towns and villages to counter the impact of US President Donald Trump’s 50% tariffs on India. India’s GDP grew at a 5-quarter high of 7.8% in the April-June period. Private consumption…
In a major step to boost domestic supply chain resilience, the Union Cabinet on Wednesday approved a Rs 1,500 crore incentive scheme to promote recycling of e-waste and battery waste for extraction of critical minerals.The scheme, which is part of the National Critical Mineral Mission (NCMM), will run for six years from FY 2025-26 to…
The Czech government on Wednesday approved a plan by the defence ministry to acquire 44 Leopard 2A8 battle tanks from Germany in a deal worth more than 34 billion koruna ($1.6 billion). The acquisition is part of Prague’s sweeping military modernisation programme amid Russia’s war against Ukraine.Defence Minister Jana Černochová said the tanks would be…
Gold rate today: Gold prices shot up by Rs 1,000 to hit a fresh all-time high of Rs 1,07,070 per 10 grams in Delhi on Wednesday, fuelled by mounting expectations of a US Federal Reserve rate cut, geopolitical tensions, and concerns over the US economy. The yellow metal of 99.9 per cent purity had closed…
Reliance Jio’s upcoming stock market debut could reshape India’s telecom sector, with financial services firm CLSA calling it a “mega event” that may also trigger a rerating of Bharti Airtel. The brokerage underlined that Jio, which commands a subscriber base of over 500 million across 4G and 5G networks, holds 42 per cent market share…
Citi has appointed banking veteran Kaustubh Kulkarni as co-head of its Investment Banking Coverage for Japan, Asia North and Australia, and Asia South, according to an internal memo seen by Reuters.Kulkarni, who will join in December subject to regulatory approvals, will be based in Singapore and serve alongside current head Jan Metzger. Both will report…
The global funding target set for COP30 is far behind schedule, with only 4-5 per cent of the promised $1.3 trillion achieved so far, claimed Vishwas Chitale, Fellow, Climate Resilience at the Council on Energy, Environment and Water (CEEW).In an exclusive interview to news agency ANI, Chitale stressed that the $1.3 trillion target is crucial…
The proposal to reduce drug costs for Americans through pharmaceutical tariffs could have unintended consequences. (AI image) US President Donald Trump is mulling tariffs on the pharmaceutical sector – as high as 200%! Trump intends to levy substantial import duties on pharmaceutical products, a sector that has largely remained unaffected by his trade policies. Historically,…
