Finance Minister Nirmala Sitharaman announced upcoming GST reforms aimed at creating a more open and transparent economy, reducing compliance burdens for small businesses. The proposed changes include simplifying the tax slab structure, streamlining registration and filing processes, and addressing rate concerns across various industries.
The Indian rupee has weakened, reaching near record lows against the US dollar. This depreciation boosts export competitiveness but increases import costs. Exporters are urged to diversify beyond the US due to potential tariffs. Importers face higher bills, especially for oil. Instability in the rupee’s value is a concern for both exporters and importers.
Klarna, the Swedish “buy now, pay later” giant, is aiming to raise $1.27 billion through an IPO in New York, pricing shares between $35 and $37. This move comes after a previous attempt was delayed due to market volatility. The IPO values Klarna at approximately $14 billion, marking a significant step after valuation swings from…
Sugar stocks surged as the government permitted unrestricted ethanol production from the 2025-26 marketing year. This policy change, allowing ethanol production from various sugarcane sources, boosted investor sentiment. ISMA estimates a significant diversion of sugar towards ethanol, aiding stock management and farmer payments, driving rallies in Rajshree Sugars, Shree Renuka Sugars and others.
Wall Street experienced a significant downturn on Tuesday, with the S&P 500 facing its worst single-day loss in a month. The Dow and Nasdaq also declined, pressured by rising bond yields and a retreat from AI-related stocks. Simultaneously, safe-haven assets surged, with gold reaching a record high and silver crossing $40 for the first time…
The Centre is advocating for a 5% GST on electric vehicles as part of a broader tax overhaul, aiming to simplify the GST structure to two main slabs: 5% and 18%. This reform seeks to lower taxes on everyday goods while opposition-ruled states are concerned about potential revenue shortfalls and are seeking compensation.
India’s finance ministry will begin the Budget-making exercise for 2026-27 on October 9, amidst global economic uncertainties and new US tariffs. The upcoming budget aims to boost demand, create jobs, and achieve a sustained 8% growth rate. Ministries must submit data by October 3, with the budget expected on February 1.
Eurozone inflation edged up to 2.1% in August, according to Eurostat data, primarily due to a smaller decrease in energy prices. This slight increase, exceeding Bloomberg analysts’ expectations, strengthens the likelihood that the European Central Bank will maintain current interest rates at its upcoming September 11 meeting.
SBI Research projects states will be net gainers under the GST rate overhaul, with collections exceeding Rs 14.10 lakh crore this fiscal. While past rate cuts caused temporary revenue dips, collections rebounded strongly. The proposed simplified system is expected to boost long-term revenue buoyancy and economic efficiency, despite initial concerns from some states.
Union IT minister Ashwini Vaishnaw presented the first ‘Made in India’ chip, the Vikram 32-bit processor, to Prime Minister Modi at Semicon India 2025. Vaishnaw hailed it as a turning point, noting the rapid construction of five semiconductor units.
