Commerce Minister Piyush Goyal has assured that the government is committed to ensuring Indian industries do not bear undue stress from unilateral global trade actions such as tariffs and protectionist measures. Speaking against the backdrop of escalating trade tensions, he emphasized that New Delhi will adopt...
The White House Trade Adviser Peter Navarro has stated that India could receive up to a 25% reduction in U.S. tariffs if New Delhi halts purchases of Russian oil. The remarks underline Washington’s efforts to align trade incentives with its geopolitical stance on Russia, while putting...
India’s much-discussed advantage from discounted Russian oil imports may be smaller than widely believed. According to recent estimates, the actual financial gain amounts to only $2.5 billion, significantly lower than earlier projections. While Russian crude purchases have provided supply security and diversification benefits, the net savings...
Ajay Bhushan Pandey, Chairperson of the National Financial Reporting Authority (NFRA), emphasized that audit committees must play a proactive role in ensuring the independence of auditors. Speaking on strengthening corporate governance, he warned that conflicts of interest and lack of oversight could compromise audit quality and...
The Indian government is working on expediting the rollout of its Export Promotion Mission, a flagship initiative aimed at enhancing India’s competitiveness in global trade. The mission will focus on streamlining export processes, boosting infrastructure, and supporting key sectors that can strengthen India’s share in world...
According to a new report by Ambit Capital, a GST rate reduction has a significantly higher multiplier effect on the economy compared to income tax cuts. While income tax relief boosts disposable income for a specific segment of taxpayers, GST cuts impact a wider consumer base,...
Finance Minister Nirmala Sitharaman announced that more than 56 crore Jan Dhan accounts have been opened in the past 11 years under the Pradhan Mantri Jan Dhan Yojana (PMJDY). The milestone highlights India’s unprecedented progress in financial inclusion, bringing millions of households into the formal banking...
State governments have urged the Centre to adopt tough measures to prevent profiteering by businesses in the wake of GST rate cuts. While the reform is designed to ease prices for consumers and boost demand, concerns remain that companies may not fully pass on the benefits....
The U.S. under President Donald Trump has imposed a steep 50% tariff on Indian exports, delivering one of the toughest trade blows New Delhi has faced in recent years. The move threatens India’s export competitiveness, particularly in labour-intensive sectors such as textiles, gems & jewellery, and...
India’s financial ecosystem is on the brink of a digital revolution, with discussions intensifying around the rupee’s possible transition into crypto and blockchain-based formats. The government and regulators are examining frameworks for a Central Bank Digital Currency (CBDC) and potential crypto-linked innovations that could redefine payments,...
In a landmark shift, personal income tax collections have overtaken corporate tax revenues in India for the first time, according to official reports. The development highlights a significant change in the country’s tax landscape, with individuals contributing more to government revenues than corporates. This reflects both...
GST authorities have uncovered ₹104 crore worth of tax evasion linked to the illicit tobacco trade during the first quarter of FY25, according to official data. A total of 61 cases were detected, highlighting the scale of revenue leakage in one of the most heavily taxed...
The Central Board of Direct Taxes (CBDT) has announced plans to simplify Income Tax Return (ITR) forms to align with the newly enacted direct tax legislation. The move aims to reduce compliance burdens for taxpayers, improve ease of filing, and ensure greater transparency in India’s tax...
Commerce Minister Piyush Goyal clarified at the ET World Leaders Forum that India’s gradual shift away from dependence on Chinese imports is a strategic and independent policy decision, not linked to ongoing trade talks with the United States. The statement underscores India’s broader strategy to strengthen...
The government is considering a major GST rate cut on food and textile items, aiming to ease the burden on households while boosting demand in two of India’s most critical consumption-driven sectors. The proposal is part of ongoing GST 2.0 reforms, designed to simplify tax structures...
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