President Trump has identified Kevin Hassett, Kevin Warsh, and Christopher Waller as potential replacements for Federal Reserve chair Jerome Powell. Trump seeks a chair who supports lower interest rates, criticizing Powell’s cautious approach. While Warsh advocates for Fed changes, Waller is viewed as a more conventional choice.
With India’s aging population, AMFI proposes the Mutual Fund–Voluntary Retirement Account (MF-VRA), inspired by the US 401(k), to bolster retirement savings. This employer-linked scheme, managed by mutual funds, aims to offer tax incentives, portability, and flexibility. AMFI seeks regulatory support to establish product structures and ensure the scheme’s success in promoting a retirement savings culture.
Central government employees who initially chose the Unified Pension Scheme (UPS) now have a one-time option to switch back to the National Pension System (NPS), according to the Finance Ministry. This decision provides clarity as the September 30, 2025 deadline approaches. Strict rules apply, including a single switch opportunity and ineligibility for those facing disciplinary…
Bank of Baroda has declared Reliance Communications and Anil Ambani’s loan accounts as ‘fraud’ after SBI and Bank of India took similar actions. A forensic audit by BDO India LLP revealed significant irregularities, including misuse of funds and unauthorized related-party transactions. The audit highlighted concerns about fund diversion and questionable financial practices.
The central government is planning to introduce legislation in the winter session of Parliament to tax tobacco and related products, potentially replacing the existing GST compensation cess. While the current cess will remain for at least three months to complete loan repayments to states, these items will face a higher 40% GST rate after that,…
Tesla’s CEO, Elon Musk, could receive a payout potentially worth $1 trillion if the company achieves ambitious goals over the next decade, as outlined in a recent regulatory filing. These targets include reaching a $2 trillion market cap, delivering 20 million vehicles, and deploying one million robotaxis. This proposal comes amidst declining sales, increased competition,…
The Gem and Jewellery Export Promotion Council says that recent GST reforms have eased costs for the diamond and jewellery sector. The government’s move to exempt imports of natural cut and polished diamonds will ease working capital pressures. GST reduction on jewellery boxes will lower costs for retailers and exporters.
Niti Aayog envisions India achieving self-sufficiency in pulses by 2030 and doubling production by 2047, projecting a surplus through targeted interventions like crop clustering and high-quality seed distribution. The strategy emphasizes climate adaptation, data-led monitoring, and promoting pulse consumption to align with nutritional recommendations.
India is actively building a safer road network by implementing technology-driven platforms like the Integrated Road Accident Database (iRAD) across all states and union territories. This centralised platform facilitates real-time accident data collection and analysis, enabling evidence-based interventions to reduce accidents. The adoption of digital platforms and intelligent technologies is laying the foundation for a…
A Nuvama report anticipates a significant boost for the FMCG sector due to recent GST rate rationalization, potentially lowering consumer prices and improving company margins. Key categories like biscuits and toothpaste now fall under the 5% tax slab, benefiting companies such as HUL and Britannia.
