The Group of Ministers (GoM) on GST rate rationalisation has decided to increase tax on aerated beverages, cigarettes, tobacco and related products to 35 per cent from the current 28 per cent, an official said on Monday.“The GoM has agreed to propose a special rate of 35 per cent on tobacco and related products and…
MUMBAI: India needs a greater focus on farmers with small land holdings and formulate a strategy to increase their income in order to realise the goal of a Viksit Bharat, or a developed nation by 2047, said P K Mishra, principal secretary to the PM, while delivering the 19th C D Deshmukh Memorial Lecture here.During…
MUMBAI: Markets regulator Sebi on Monday ordered attachment of all bank and demat accounts, as well as mutual fund folios of Reliance Big Entertainment for its failure to pay Rs 26 crore penalty imposed by the regulator in Aug. Reliance Big Entertainment is an unlisted arm of Anil Ambani-controlled Reliance ADA group.In Aug, Sebi had…
MUMBAI: UPI transactions in Nov 2024 showed a slight dip from the previous month. While total transaction volume fell by 6.6% to 1,548 crore, overall value declined by 8.3% to Rs 21.6 lakh crore. In Oct, transactions had risen to 1,658 crore in volume and Rs 23.5 lakh crore in value, driven by e-commerce sales.Bankers…
MUMBAI: Dutch technology investor Prosus, which has invested over $8 billion in the country, will raise its bets on India, where more people are coming online, expanding opportunities for companies and investment firms alike and giving new startups room to find their feet. India is very “heterogeneous” – people from different parts of the country…
NEW DELHI: A panel with representatives from the Reserve Bank of India (RBI), central and state governments, and academia has been formed to update the base year for calculating Gross Domestic Product (GDP) to 2022-23 from 2011-12, the government informed Parliament on Monday. Minister of state for statistics & programme implementation, Rao Inderjit Singh, said…
The programme mirrors the US global entry programme and it has been adapted for Indian requirements. India’s first Fast Track Immigration-Trusted Traveller Programme: Since June this year, more than 19,000 Indian and foreign nationals with Overseas Card of India (OCI) have registered for India’s inaugural Fast Track Immigration-Trusted Traveller Programme (FTI-TTP). Officials confirmed that whilst…
The three service branches have identified a significant need for Medium Altitude Long Endurance (MALE) drones. (Image: NAGASTRA loiter munition) India eyes indigenous long-range drones: The Indian armed forces, having acquired locally developed loitering munitions, are now seeking domestic production of long-range unmanned aerial vehicles for surveillance and combat operations.The three service branches have identified…
Bajaj Auto Ltd on Monday reported a 5 per cent year-on-year growth in total vehicle sales, including exports, at 4,21,640 units in November 2024. The Pune-based automaker had sold 4,03,003 units in November 2023, according to a company statement.The automotive company announced a 5 per cent growth in overall vehicle sales in November. This figure…
Rating agency Crisil has projected India’s GDP growth to decline from 8.2 percent last year to 6.8 percent in the current fiscal year 2024-2025, pressured by rising interest rates and limited fiscal stimulus.The report mentioned that risks are tilted toward the downside given the lacklustre second-quarter growth numbers.However, many high-frequency indicators from October, such as…
