India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Deloitte India Partner MS Mani said : "The increase in collections is in line with the GDP growth data shared recently and would give the policy makers the confidence to move ahead with GST 2.0 reforms slated to be discussed in the GST Council Meeting this week " ICRA Chief Economist Aditi Nayar said while CGST and SGST recorded a double-digit expansion, the growth in IGST and cess collections was tepid, dampening the headline GST increase to 6.5 per cent.
New Delhi, Jul 1 (PTI) Gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June, as per government data released on Tuesday. Gross GST collections during the same month a year ago was Rs 1,73,813 crore. Also Read | Nasscom Talent Council Unveiled To Build Future-Ready and Globally Competitive Digital Workforce in India, Satish HC Appointed As Chair. During the last month, the Goods and Services Tax (GST) collection was Rs 2.01 lakh crore. The GST collection touched a record high of Rs 2.37 lakh crore in April this year. Also Read | Bengaluru Stampede: CAT Overtur ...Read More >
New Delhi [India], July 16 (ANI): The Indian government expressed regret on Tuesday over the reported demolition of the ancestral property of celebrated filmmaker and writer Satyajit Ray in Mymensingh, Bangladesh and expressed its willingness to extend cooperation in its restoration. "We note with profound regret that the ancestral property of noted filmmaker and litterateur Satyajit Ray in Mymensingh, Bangladesh, belonging to his grandfather and eminent litterateur, Upendra Kishor Ray Chowdhury, is being demolished," the Ministry of External Affairs said. Also Read | India Urges Bangladesh ...Read More >
New Delhi: The ninth year of the Goods and Services Tax (GST), which begins on Tuesday, could actually see the much-awaited rationalisation of the rates, although the shrinking of slabs from four major ones to three is unlikely.While the tax regime stabilised over eight years, this is evidenced by consistent rise in collections - from a monthly average of a little over Rs 1.2 lakh crore to more than Rs 1.8 lakh crore - and the number of taxpayers increasing to over Rs 1.5 crore by March-end.Name any agency or tax expert and rationalisation of tax rates is top item on the wish list. "The next p ...Read More >
New Delhi, July 1 (SocialNews.XYZ) India's Goods and Services Tax (GST) system has emerged as one of the biggest success stories in the last decade, reflecting a growing formal economy and rising compliance, noted economist and former IMF Executive Director, Dr Surjit Bhalla, said on Tuesday. In an exclusive interaction with IANS, Bhalla highlighted that GST has not only increased tax revenue significantly but has also brought more businesses and individuals under the formal tax net. "The GST has performed well, and more individuals have entered the formal tax net. That's a good sign," he sa ...Read More >
New Delhi: Central and state governments collected ₹1.85 trillion in Goods and Services Tax (GST) revenue in June, reporting a 6.2% annual improvement, although the revenue receipt was the lowest in four months. The moderation from the more than ₹2 trillion-level seen in the first two months of the current financial year comes on account of a sharp reduction in tax collection from domestic transactions. GST on imported items also witnessed some moderation in June. However, cumulatively, in the first quarter, Central and state governments collected ₹6.2 trillion before tax refunds, an improve ...Read More >
Chandigarh, Jul 1 (PTI) Punjab registered a record 44.44 per cent growth in net goods and services tax collections at Rs 2,379.90 crore in June 2025, said Finance Minister Harpal Singh Cheema on Tuesday. Addressing the media here, Cheema said Punjab outpaced the national average in GST collection growth, firmly positioning itself among the top-performing states in tax mobilization despite facing national and geopolitical challenges, including border-related tensions. Also Read | Who Is PVN Madhav? Here's Everything You Need To Know About the Newly Appointed Andhra Pradesh BJP President. The ...Read More >
New Delhi [India], August 28 (ANI): A decline in the Goods and Services Tax (GST) rate has a higher multiplier effect of 1.08x compared with direct taxes, according to a report by Ambit Capital. If the benefits of this cut are passed on to consumers, it can boost the country's GDP growth. It stated "A decline in GST rate has a higher multiplier effect (1.08x) than direct taxes. If passed on to consumers, it can add 20-50bps to GDP growth". The report said, a decrease in income tax rate would have a positive multiplier effect, leading to a rise in private consumption due to higher disposable ...Read More >
New Delhi [India], September 16 (ANI): The Reserve Bank of India (RBI) is expected to lower policy rates by 25 basis points each in the upcoming Monetary Policy Committee (MPC) meetings in October and December, taking the terminal policy rate to 5 per cent, according to a report by Morgan Stanley. The global brokerage firm noted that the central bank now has room for monetary easing as inflation continues to undershoot the target. The report projects headline consumer price index (CPI) inflation to average at 2.4 per cent year-on-year in FY26, significantly below RBI's inflation target of 4 ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
New Delhi, Jul 1 (PTI) On the eighth anniversary of the Goods and Services Tax (GST) roll out, Prime Minister Narendra Modi on Tuesday said the indirect tax regime stands out as a landmark reform that has reshaped India's economic landscape. He said on X, "By reducing the compliance burden, it has greatly improved the ease of doing business, particularly for small and medium enterprises. GST has also served as a powerful engine for economic growth, while fostering true cooperative federalism by making states equal partners in this journey to integrate India's market." The GST, which was imple ...Read More >
New Delhi: Maintaining the pace of India's growing economy, the country's gross goods and services tax or GST mop-up in June stood at Rs 1.85 lakh crore, marking a 6.2 per cent increase compared to the same month last year, while India's manufacturing sector activity rose to a 14-month high in June on the back of expansion in output, new orders, and job creation, two separate data showed on Tuesday. However, the finance ministry said that the government's focus on GST, which completes eighth year on Tuesday, is to promote ease of doing business, ensure stronger compliance and foster broader e ...Read More >
New Delhi, Jul 15 (PTI) The Indian economy is expected to grow at 6.5 per cent in the current financial year, despite geo-political tensions and trade policy uncertainties, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev said on Tuesday. In an interview with PTI, Dev further said that domestic growth will be driven by low inflation, resulting from good monsoon and benign interest rate regime, triggered by three back-to-back rate cuts by the Reserve Bank of India. "There are significant global headwinds like the twin shocks of geo-political tensions and trade ...Read More >
New Delhi, Aug 14 (SocialNews.XYZ) India's economic expansion and its GDP growth are clearly on the right path despite geopolitical turbulence and tariff uncertainties, and this is showing in numbers too, economist Akash Jindal said on Thursday. Citing economic resilience and sustained fiscal consolidation, global credit ratings agency S&P Global has upgraded India's long-term unsolicited sovereign credit rating to "BBB" from the earlier "BBB-", ahead of the 79th Independence Day. Reacting to the report, Jindal told IANS that fiscal consolidation is very important for any economy, and the In ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
DHARMAPURI: For the third time in the past two months, a wild leopard wandered into a private farmland near Valaithottam village near Palacode and hunted chicken raised by a local farmer. Locals are increasingly distressed and urged the forest department to take steps to relocate the leopard. Over the past few months, there have been several reports of leopard sightings in forest areas near Palacode, particularly in Valaithottam village, near the forest's fringe. There have been two instances when the leopard attacked farmlands, taking away a domestic dog and a chicken. On Saturday, the leop ...Read More >
New Delhi: The Goods and Services Tax (GST) on July 1 2025, marks eights years since its launch. GST was introduced in 2017 and was a landmark reform taht simplified India's complex indirect tax system by bringing multiple state and central taxes under one roof. It aimed to make tax compliance easier, reduce business costs, and enable smoother movement of goods across states. Over the years, GST has boosted transparency, improved efficiency, and strengthened the foundation of a more unified national economy. Prime Minister Narendra Modi had called it "a path-breaking legislation for New India ...Read More >
New Delhi, Jul 1 (PTI) Gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June, as per government data released on Tuesday. Gross GST collections during the same month a year ago was Rs 1,73,813 crore. During the last month, the Goods and Services Tax (GST) collection was Rs 2.01 lakh crore. The GST collection touched a record high of Rs 2.37 lakh crore in April this year. In June, gross revenues from domestic transactions rose 4.6 per cent to about Rs 1.38 lakh crore, while GST revenue from imports grew 11.4 per cent to Rs 45,690 crore. The gross Central GST re ...Read More >
New Delhi, July 1 (SocialNews.XYZ) Prime Minister Narendra Modi on Tuesday said that eight years have passed since GST was introduced, and it stands out as a landmark reform that has reshaped India's economic landscape. "By reducing the compliance burden, it has greatly improved the Ease of Doing Business, particularly for small and medium enterprises", PM Modi stated. "GST has also served as a powerful engine for economic growth, while fostering true cooperative federalism by making states equal partners in this journey to integrate India's market," the Prime Minister said in a statement on ...Read More >
New Delhi, Jul 18 (PTI) The Supreme Court has said money cannot be recovered by filing an FIR and seeking help of police as it quashed a cheating case against the producer of Bollywood movie "Tanu Weds Manu". A bench of Justices J B Pardiwala and R Mahadevan expressed displeasure over the approach of the Allahabad High Court in dealing with the petition of producer Shailesh R Singh for quashing of the FIR against him by complainant Kunal Jain. "Money cannot be recovered, more particularly, in a civil dispute between the parties by filing a first information report and seeking the help of the ...Read More >
India's Goods and Services Tax (GST) revenue data for July 2025 may appear stable on the surface, but a closer look reveals troubling undercurrents that demand urgent policy attention. While gross GST collections rose 7.5% year-on-year to ₹1,95,735 crore, this growth is disproportionately fueled by imports, masking a worrying stagnation in domestic consumption and exposing structural inefficiencies in the tax system. The 7.5% overall rise is largely driven by a 9.7% increase in GST revenue from imports, far outpacing the 6.7% growth in domestic collections. This imbalance raises red flags abo ...Read More >
New Delhi: The country's largest carmaker Maruti Suzuki has announced the rollout of its first made-in-India electric vehicle - the e-Vitara SUV - in a major boost to the green segment from its upgraded Gujarat plant, which is now set to become one of the world's largest automotive manufacturing hubs with a projected annual capacity of one million units. Crucially, this facility will serve as Suzuki's global production base for electric vehicles (EVs), exporting to over 100 countries, including advanced markets in Japan and Europe, which is aligned with India's vision of becoming a global aut ...Read More >
(Bloomberg) -- Indian bonds are poised to gain while the rupee is set to weaken as analysts bet on a softer monetary policy after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor. Most Read from Bloomberg Malhotra, a surprise pick, will take charge from Shaktikanta Das under whom the RBI kept borrowing costs unchanged for almost two years. While Malhotra's views on monetary policy are largely unknown, he recently urged revenue officials to prioritize economic growth, and the markets may read his appointment as dovish. The central bank is expec ...Read More >
New Delhi, May 23 (PTI) The GST Council is likely to meet soon to discuss rate simplification and rationalisation and the future of compensation cess, according to a source. "There are three or four different aspects relating to making GST simpler. We will take up the issue of compensation cess, rate rationalisation and simplification," the source said. The GST Council, chaired by Union Finance Minister and comprising state counterparts, in its meeting in December last year, did not take up the GoM reports on rate rationalisation and rate reduction in health and life insurance. The two GoMs ...Read More >
Thiruvananthapuram: Ravada A Chandrasekhar took charge as the new State Police Chief on Tuesday. He succeeds Shaik Darvesh Saheb, who retired on June 30. His tenure will run until July 1, 2027. A 1991-batch IPS officer currently serving as Special Director with the Intelligence Bureau, Chandrasekhar is on central deputation. He was selected over Nitin Agarwal, who topped the official list of probables. The appointment order, issued by Kerala Chief Secretary Dr A Jayathilak on behalf of the Governor, was released soon after a cabinet meeting held on Monday. Hailing from Andhra Pradesh's Godav ...Read More >
New Delhi: Traffic in central Delhi will be affected on Thursday as the traffic police has issued an advisory due to the Janmashtami and Tazia processions.According to police, the traffic movement in Paharganj is likely to be affected from 1.30pm in view of the shobha yatra for Janmashtami and the Tazia procession.The Janmashtami procession will start from Mandir Shri Banke Bihari Ji in Paharganj's Sangatrasan Bazar and pass through Desh Bandhu Gupta Road, Chuna Mandi, Main Bazar, Munja Chowk and Arakashan Road. The Tazia procession will start from Ajmeri Gate and proceed through Pul Paharganj ...Read More >
New Delhi: GST collection in August rose 6.5 per cent to over Rs 1.86 lakh crore with increased domestic sales, and the upcoming festive season is likely to swell the kitty going forward. The August Goods and Services Tax (GST) mop-up is, however, lower than Rs 1.96 lakh crore collected in July. In August 2024, the collection was Rs 1.75 lakh crore. The gross domestic revenue grew 9.6 per cent to Rs 1.37 lakh crore, while tax from imports dipped 1.2 per cent to Rs 49,354 crore in August. GST refunds were down 20 per cent year-on-year to Rs 19,359 crore. EY Tax Partner Saurabh Agarwal said the ...Read More >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
New Delhi: India's manufacturing sector activity rose to a 14-month high in June on the back of expansions in output, new orders, and job creation, a private survey showed on Monday. The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 58.4 in June, up from 57.6 in May from 58.2 in April and 58.1 in March. India's manufacturing PMI was 56.3 in February and 57.7 in January. A reading above 50 indicates expansion. To be sure, the headline figure was above its long-run average of 54.1, which suggests a substantial improvement in the sector's health. " ...Read More >
New Delhi, July 1 (SocialNews.XYZ) The Goods and Services Tax (GST) has been one of the most significant reforms undertaken in India over the past decade, Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings, said on Tuesday. According to him, GST has not only expanded the country's taxpayer base but also made doing business considerably easier compared to earlier times. In a conversation with IANS, Sharma said, "Over the last ten years, India has witnessed several important structural changes, and GST stands out among them." "The impact is clearly visible in the numbers. In the fin ...Read More >
Srinagar, Jul 3 (PTI) The annual Amarnath Yatra began on Thursday with the first batches of pilgrims setting off from the twin base camps in Baltal and Nunwan towards the 3880-metre-high cave shrine in the south Kashmir Himalayas, which houses a naturally formed ice-lingam, officials said. The yatra started early morning from the twin tracks -- the traditional 48-km Nunwan-Pahalgam route and the 14-km Baltal route. The batches of pilgrims, including men, women and sadhus, left from the Nunwan base camp in Pahalgam, in south Kashmir's Anantnag, and Baltal base camp in Sonamarg area of central ...Read More >