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.
GST Reforms: India is preparing for a major shift in its taxation system with the rollout of GST 2.0 on September 22. Finance Minister Nirmala Sitharaman has not only confirmed the launch but also hinted at the next big reform, GST 3.0, which will focus on long-term stability and fairness in the tax regime. The new GST 2.0 framework replaces the earlier 12% and 28% slabs with a simplified two-tier system of 5% and 18%, alongside a 40% demerit rate for sin and luxury goods. This is expected to ease compliance for businesses, bring transparency, and reduce the burden on households. In her remarks, Sitharaman described GST 2.0 as a move from "unity to simplicity." She explained that while GST 1.0 unified India's fragmented tax structure, GST 2.0 now makes the system more efficient. Looking ahead, she teased GST 3.0 as the next step, with reforms that will make the tax structure more stable, equitable, and citizen-friendly. With GST 2.0 laying the foundation, GST 3.0 promises to be a reform focused on stability and long-term growth, making India's tax system more inclusive and efficient for both businesses and citizens.
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
Mumbai: Even as mis-selling of insurance plans by banks has drawn scrutiny, the sector regulator doesn't want to manage distribution channels and seeks to focus on customer awareness to check the malpractice. "It's not necessary that every mis-selling is mis-selling, it's also about the customers' understanding of the product," said Swaminathan S Iyer, member (life), Insurance Regulatory and Development Authority of India on the sidelines of an event on Wednesday. "Once you drive home that your understanding is different from what the product is...then I think the absolute number on mis-selli ...Read More >
Panaji: Union govt sanctioned Rs 300 crore for state govt towards special assistance (loan) under part IX of the Scheme for Special Assistance to States for Capital Investment, 2025-26. It said the state must ensure there is no duplication in funding of the capital projects approved under the scheme, either with the funds provided by Govt of India or state govt."In case of unavoidable changes in the specific projects for which funds are being released, state govt shall seek the approval of Govt of India for the change. Funds will not be provided in case of unapproved changes," Jitendra Kumar V ...Read More >
New Delhi, July 13 (SocialNews.XYZ) Union Finance Minister Nirmala Sitharaman on Sunday visited the Ramakrishna Mission Ashram School in Sohra, Meghalaya, and interacted warmly with the students, teachers and staff members, highlighting the government's continued engagement with educational and livelihood initiatives in the North Eastern region. During her visit, FM Sitharaman explored various facilities at the school, including the Tailoring and Weaving Centre that operates under the Swavalamban Alternative Livelihood Unit for the East (SALUTE) initiative. She appreciated the efforts being ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
NEW DELHI: BRICS is a vital platform for advancing inclusive multilateralism, especially when global institutions are facing a crisis of legitimacy and representation, FM Nirmala Sitharaman has said.Speaking at BRICS Finance Minister and Central Bank Governors (FMCBG) meeting in Rio de Janeiro, FM said India has demonstrated resilience through a combination of strong domestic demand, prudent macro management, and targeted fiscal measures.She emphasised that India's policy response to trade and financial restrictions has focused on diversifying markets, promoting infrastructure-led growth and i ...Read More >
NEW DELHI: Easing of financing conditions is expected to help improve credit prospects for the NBFC sector, according to finance minister Nirmala Sitharaman. Recent regulatory measures, such as the restoration of risk weights on bank lending and easing of financial conditions, are anticipated to further enhance credit prospects, thereby strengthening the overall funding environment for the NBFC sector, she said on Wednesday."With the recent RBI measures reducing the costs of funds to the sector, I urge NBFCs to pass on the benefits of this reduction to customers," she said at the NBFC conclave ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): NSE Sustainability Ratings and Analytics, a defunct subsidiary of the stock exchange NSE, has launched ESG ratings services for listed companies. It marks a significant milestone in advancing sustainable business practices in India. Also Read | Startup Growth in India: Country Now Has 1.76 Lakh Registered Startups and 118 Unicorns, Says FM Nirmala Sitharaman. NSE Sustainability focuses on assessing Environmental, Social, and Governance (ESG) performance, providing stakeholders with vital information to make informed decisions. The company NSE Sus ...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, July 8 (SocialNews.XYZ) Finance Minister Nirmala Sitharaman on Tuesday received dividend cheques to the tune of Rs 5,304 crore on behalf of the government from three public sector banks for the financial year ended on March 31, 2025. A dividend cheque of Rs 2,335 crore for FY 2024-25 was presented to the Finance Minister, in her North Block office, by Punjab National Bank MD and CEO Ashok Chandra, while Bank of India MD & CEO Rajneesh Karnatak presented a cheque of Rs 1,353 crore. The third dividend cheque of Rs 1,616 crore for FY 2024-25 was presented to Finance Minister Sitharama ...Read More >
New Delhi: Non-banking financial companies (NBFCs) will be central to India's journey towards becoming a Viksit Bharat (developed nation) by 2047, but they must follow responsible and transparent lending practices, finance minister Nirmala Sitharaman said on Wednesday. Addressing the NBFC Symposium 2025, organized by the department of financial services (DFS) in New Delhi, Sitharaman said interest rates must remain reasonable, rate cuts must be passed on to borrowers, and all charges must be clearly disclosed, free from hidden fees or complex terms. "Lending should be based on genuine needs ...Read More >
New Delhi, December 4: In a significant move to enhance customer experience and protect citizens, the Lok Sabha on Wednesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts. The higher number of nominees aims to reduce unclaimed deposits in banks. Finance Minister Nirmala Sitharaman said that depositors will have the option of successive or simultaneous nomination facility, while locker holders will have only successive nominations. Another sweeping change relates to redefining 'substantial interest' for directors ...Read More >
Kargil , Jul 2: Pursuant to putting in place a comprehensive legal framework to ensure fair, inclusive, and transparent recruitment to public services, the Administration of the Union Territory of Ladakh has initiated a large-scale recruitment drive for 359 Gazetted posts through the Union Public Service Commission (UPSC). This marks the first-ever recruitment of Gazetted posts through UPSC since the formation of the Union Territory, officials said. This follows the establishment of a unique and dedicated legal framework specifically designed for Ladakh. The framework ensures maximum local re ...Read More >
Shillong, July 11: Union Finance Minister Nirmala Sitharaman on Friday announced that 92 border villages in Meghalaya have been identified for inclusion under Phase II of the Vibrant Villages Programme (VVP), reinforcing the Centre's commitment to ensuring "safe, secure, and vibrant" land borders. Addressing a press conference, Sitharaman explained that while the first phase of the programme focused on western border villages near Pakistan, the second phase targets villages along India's borders with Bangladesh, Myanmar, Tibet, China, Nepal, and others. As part of this programme, she said, t ...Read More >
Shillong: Union finance minister Nirmala Sitharaman chaired a stakeholder interaction in Shillong on Saturday, where she engaged directly with business leaders, entrepreneurs, industry representatives and citizens, reaffirming the Centre's commitment to the development of the northeast.The event was organised by the Govt of Meghalaya in collaboration with the department of financial services, Central Board of Indirect Taxes & Customs (CBIC) and the Central Board of Direct Taxes.The session was attended by CBIC chairman Sanjay Kumar Agarwal, CBIC member Mohan Kumar Singh and senior officials fr ...Read More >
Despite its vast potential, the full capabilities of GST data remain largely unrealised. While aggregate data provides a broad overview of tax performance and health of the Indian economy, disaggregated sector-wise information is crucial for evidence-based policymaking. A closer look at the performance of GST revenue collection raises several questions. First, though the growth of GST revenue collection improved in the last seven years (13 per cent) compared to the pre-GST period 2012-17 (11.8 per cent), there has been hardly an increase in the tax base of GST in the last seven years compared ...Read More >
Mumbai, Dec 3 (PTI) Maharashtra's caretaker Chief Minister Eknath Shinde on Tuesday visited a private hospital in Thane for a "check-up," two days before a new CM is sworn in at an open ground ceremony in south Mumbai. Even as it is not known yet who would take oath as chief minister at Azad Maidan on the evening of December 5, preparations are in full swing for the ceremony, to be attended by Prime Minister Narendra Modi, about 2,000 VVIPs and some 40,000 supporters. Shinde, who had been staying at his private residence in Thane for the last few days, visited the hospital in the morning. "I ...Read More >
Bengaluru: Ex-Karnataka Chief Minister and former External Affairs Minister SM Krishna died here early on Tuesday, leaving behind a rich legacy of statesmanship and public service that saw the 92-year-old leader scale all heights of political achievements. Suave, sophisticated and a man with enviable academic credentials, Somanahalli Mallaiah Krishna started off his political innings as an independent MLA from Maddur in 1962, stunning a then Congress veteran in the elections, and went on to become the state's CM and later the country's External Affairs Minister. Tributes poured in for the fo ...Read More >
New Delhi, January 31: The unveiling of the Economic Survey on Friday sets the stage for Finance Minister Nirmala Sitharaman to present the Union Budget for 2025-26 in Parliament on Saturday (February 1), which is expected to continue the government's policy of giving a big push to economic growth with equity. The government has prioritised improving the quality of life in rural areas to ensure equitable and inclusive development, according to the Economic Survey 2024-25. The survey highlights financial inclusion as a key focus, with rural households and small businesses getting easier access ...Read More >
HYDERABAD: Refuting the allegations of the Opposition BRS that the Congress government failed to stop the Andhra Pradesh government's proposed Godavari-Banakacherla project, Irrigation Minister N Uttam Kumar Reddy on Friday declared that "we are ready for any kind of fight" against AP's project. Speaking to reporters here, Uttam said that the state government has already written letters to Jal Shakti Minister CR Patil and Union Finance Minister Nirmala Sitharaman opposing the project. "After our representation, Union Minister CR Patil in a letter assured us that the G-B project will be exami ...Read More >
New Delhi: The Bharatiya Janata Party may be on track to appoint its first-ever woman national president, with names like Union Finance Minister Nirmala Sitharaman, BJP's former Andhra Pradesh unit chief D Purandeswari and Tamil Nadu MLA Vanathi Srinivasan among the probable frontrunners, according to reports. The BJP has been going through a major organisational rejig, with the appointment of new chiefs for the local units of six states and Union Territories. With that over, the party is now focussing on appointing a new national president replacing JP Nadda, a process that has been delayed ...Read More >
Srinagar, July 09: Chief Minister Omar Abdullah on Wednesday said that Jammu & Kashmir's tourism sector is witnessing a strong revival, with a steady rise in the number of tourists visiting the Union Territory each day.Abdullah, while addressing reporters in West Bengal ahead of the Kolkata Tourism Fair, said, "Tourists are coming back to Kashmir in good numbers. The ongoingAmarnathYatra is proceeding smoothly with heavy footfall on both the Pahalgam and Baltal routes, he said."I spoke to several pilgrims, and they are all happy and satisfied with the arrangements. I have come to Kolkata to ta ...Read More >
NEW DELHI, Dec 13 (Reuters) - India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday. The writer of the best-selling book "Capital in the 21st Century" called on India to follow through on a July pledge by finance ministers from the Group of 20 major economies to cooperate on effectively taxing the world's largest fortunes. "India should be active in taxing the rich," Piketty said at an event organised by Delhi-b ...Read More >
New Delhi: The GST Council will soon decide on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday. Currently, Goods and Services Tax (GST) is a four-tier tax structure with slabs at 5, 12, 18 and 28 per cent. Luxury and demerit goods are taxed at the highest bracket of 28 per cent, while packed food and essential items are in the lowest 5 per cent slab. The Council, chaired by Sitharaman and comprising her state counterparts, has set up a group of ministers (GoM) to suggest changes in GST rates as well as reduce slabs. "To ...Read More >
New Delhi: The second match of the five-match Test series between India and England will be played at Edgbaston in Birmingham. It will start on July 2. In this Test, Shubman Gill has a chance to create history. Actually, the Indian team has not been able to win on this ground so far. Team India played the first match on this ground in 1967. Be it Virat Kohli or Dhoni or Dravid or Sourav Ganguly, no Indian captain has won here in 58 years. However, Gill will have a chance to get his name registered in the history books. If he manages to end the drought of 58 years, he will become the first Indi ...Read More >
New Delhi: The hunt for a successor to BJP president J.P. Nadda has taken a new turn with RSS and BJP now weighing the "historic" prospect of appointing a woman to the top party post. While a section of leaders pushed for a woman candidate, many others were firmly rooted to tradition, insisting that the post of party chief stay in "male hands". Amidst this deadlock and tug-of-war between BJP and RSS leaders over the next presidential candidate, the names of some women candidates have begun to surface. The top contenders are mainly from the southern parts of the country -- D. Purandeswari (An ...Read More >
New Delhi: Finance minister Nirmala Sitharaman on Friday flagged persistent asymmetry in global financial flows as a major impediment to sustainable development in the Global South, warning that it continues to stifle long-term investments in clean energy, urban mobility, and climate-resilient infrastructure. Speaking at the New Development Bank's (NDB) Governors Seminar in Rio de Janeiro, Brazil, Sitharaman urged a fundamental rethink of the global financial architecture to better align with the development priorities of emerging and low-income economies. "The asymmetry in global financial ...Read More >
New Delhi, Jul 6 (PTI) Finance Minister Nirmala Sitharaman held a series of bilateral meetings, including with Russian and Chinese counterparts, and discussed issues of bilateral cooperation and interests. These meetings were held on the sidelines of the BRICS Finance Ministers and Central Bank Governors meeting in Rio de Janeiro. During a meeting with Anton Siluanov, Finance Minister of Russia, Sitharaman expressed gratitude for the support extended by President Vladimir Putin after the Pahalgam terror attack, the finance ministry said in a post on X. The two leaders discussed India-Russia ...Read More >
NEW DELHI: Amid growing speculation over the new BJP national president, the names of three women leaders -- including Union Finance Minister Nirmala Sitharaman -- have suddenly emerged alongwith other prominent figures such as Bhupendra Yadav, Dharmendra Pradhan, Manohar Lal Khattar, Shivraj Singh Chouhan, Pralhad Joshi, and others. Though many senior BJP leaders have not firmly backed the likelihood of any one of the three women being chosen for the top post, the names currently in circulation include former Andhra Pradesh BJP chief Daggubati Purandeswari -- often referred to as the "second ...Read More >