Investors will focus on domestic high-frequency data, such as HSBC India Manufacturing, Services, and Composite PMIs, to gauge growth momentum. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, soared in trade on Monday on the back of next-generation GST reforms announced by PM Modi during his Independence Day speech, […]
GST revamp: Centre, states equal stakeholders! Govt clarifies concerns over impact on state revenues
As the Centre is proposing a two-slab structure pro-middle-class ‘Next Gen GST,’ many are concerned about its impact on the revenue. However, government sources clarified that the Centre and the states are equal partners in sharing the revenue and the proposal might boost revenue over time, fueled by increased consumption.Under the current Goods and Services […]
‘Bharat steps up efforts to be product nation’: Ashwini Vaishnaw lauds India’s semiconductor push; encourages startups in chip design
India’s push to build its own semiconductor ecosystem got a boost after Union Minister for Electronics and Information Technology Ashwini Vaishnaw praised the progress in chip manufacturing, calling it an important step towards becoming a “product nation”.Taking to X on Monday, Vaishnaw cited a media report while highlighting the importance of homegrown chipsets in India’s […]
IDFC First Bank to give choice of Rupay, Mastercard in Indigo co-branded card
MUMBAI: IndiGo and IDFC FIRST Bank have launched a co-branded credit card that will be available on both Mastercard and RuPay networks, offering customers wider acceptance and flexibility, including the ability to make UPI payments through RuPay.The IndiGo IDFC FIRST Credit Card is aimed at frequent travelers and comes with accelerated rewards on IndiGo bookings […]
Banking-TieUp: BoM, SBI Card launch co-branded credit card; three variants unveiled
State-owned Bank of Maharashtra (BoM) has joined hands with SBI Card to roll out a new co-branded credit card, promising premium and highly-rewarding shopping experience for discerning customers across segments. According to a joint statement made on Monday, the Bank of Maharashtra-SBI Card has been introduced in three variants: Bank of Maharashtra SBI Card ELITE, […]
FASTag annual pass: Over 5 lakh users sign up in 4 days; Tamil Nadu leads with maximum number of purchases
The newly launched FASTag Annual Pass has seen a remarkable response, crossing the landmark figure of five lakh users across the country within just four days, an official statement said on Monday.Introduced on Independence Day, the pass allows non-commercial vehicle users to make a one-time payment of Rs 3,000 for one year’s validity or 200 […]
US stocks today: Wall Street trades in red ahead of crucial week; Dow slips 60 points, Nasdaq down 0.11%
Wall Street began the week on a cautious note on Monday, with investors holding back as they waited for a busy line-up of corporate earnings and a key speech from the Federal Reserve chief later this week.US stocks began the day trading near their record highs but slowly drifted in red.The Dow Jones Industrial Average […]
GST revamp: India’s new regime to lift demand, consumption – here’s what Morgan Stanley says
India’s consumption story could soon receive a major boost, with a mix of tax reforms and economic measures paving the way for stronger domestic demand, according to a new Morgan Stanley report.The report, dated August 17, said an overhaul in GST rate slabs, along with support from personal income tax cuts, monetary policy easing, signs […]
Indian job market: Unemployment eases to 5.2% in July; rural areas drive improvement
India’s unemployment rate eased to 5.2% in July, from 5.6% in June, according to the government’s latest labour force survey, released on Monday.The Periodic Labour Force Survey (PLFS), conducted by the Ministry of Statistics and Programme Implementation (MoSPI), showed that the unemployment rate in May had also stood at 5.6%.Data collected under the current weekly […]
GST overhaul: Rs 1.1 trillion worth revenue might be lost; UBS says fiscal cost manageable
The fiscal cost of the government’s proposed Goods and Services Tax (GST) rate rationalisation will remain manageable, with an estimated revenue loss of Rs 1.1 trillion annually or 0.3% of the GDP, a UBS report said.For the financial year 2026, the firm expected the shortfall of Rs 430 billion, or 0.12% of GDP, that could […]