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PM Modi's GST Diwali bonanza timely, strategic move: Experts

Economic Times

Economic Times · 3m ago

PM Modi's GST Diwali bonanza timely, strategic move: Experts

Prime Minister Narendra Modi's announcement of GST 2.0 aims to reform India's tax regime by reducing GST rates by Diwali, lowering prices of daily-use items. The Finance Ministry proposes replacing the current GST structure with two slabs: standard and merit, reducing rates on most goods and services. This strategic move seeks to enhance domestic consumption, benefit MSMEs, and bolster India's economy, addressing global trade tensions and unlocking competitive export potential.

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SBI to states: Don’t fear PM Modi’s Diwali GST gift, you’ll still be net gainers

Economic Times

Economic Times · 2m ago

SBI to states: Don’t fear PM Modi’s Diwali GST gift, you’ll still be net gainers

The State Bank of India (SBI) suggests Indian states will benefit from GST collections this fiscal year despite upcoming rate changes. Prime Minister Modi's proposed tax cuts, viewed as a Diwali gift, sparked concerns among states about revenue loss. However, the GST collection's structure ensures states receive around 70% of the total revenue. SBI projects significant gains for states, emphasizing that streamlined GST will simplify compliance and enhance revenue efficiency, despite opposition states seeking compensation for potential revenue losses.

Anand Mahindra echoes with PM Narendra Modi's sentiment on Anant Ambani's Vantara, calls it ‘truly impressive'

Livemint

Livemint · 9m ago

Anand Mahindra echoes with PM Narendra Modi's sentiment on Anant Ambani's Vantara, calls it ‘truly impressive'

Companies News Today on March 5, 2025, highlights key financial performances, strategic acquisitions, and market dynamics. Anand Mahindra endorses PM Narendra Modi's praise for Anant Ambani's Vantara, describing it as impressive. The updates include insights into mergers, acquisitions, financial outcomes, and leadership transformations that are influencing industry trends. Stay informed about the shifts and strategic decisions reshaping various sectors.

India seen among Asia’s fastest growing economies as Trump’s tariff meets PM Modi’s GST power move

Economic Times

Economic Times · 3m ago

India seen among Asia’s fastest growing economies as Trump’s tariff meets PM Modi’s GST power move

India is projected to maintain robust GDP growth above 6% despite new US tariffs affecting exports, according to BMI, a Fitch Solutions company. Fitch suggests PM Modi's GST reform could offset the tariff impact, boosting private consumption. India’s economy benefits from strong domestic consumption, fiscal stability, and demographic advantages. While facing external tariff challenges, India remains one of Asia's fastest-growing economies, with reforms enhancing growth prospects and potentially raising GDP growth rates.

Flexport CEO calls out India’s ‘useless paperwork’, criticises bureaucratic hurdles

Economic Times

Economic Times · 4m ago

Flexport CEO calls out India’s ‘useless paperwork’, criticises bureaucratic hurdles

Flexport CEO Ryan Petersen criticized India's regulatory environment, highlighting excessive paperwork as a barrier to business. This comment responded to Prime Minister Modi's GST anniversary post, which claimed eased business compliance. Petersen's view aligns with other executives' concerns over India's bureaucracy, as German businesses reported similar challenges. Despite India's efforts to improve business ease, experts and organizations like the Confederation of Indian Industry emphasize the need for continued reform, particularly in reducing bureaucratic hurdles.

PM Modi to feature on Lex Fridman's podcast in February

Economic Times

Economic Times · 10m ago

PM Modi to feature on Lex Fridman's podcast in February

Prime Minister Narendra Modi will appear on Lex Fridman's podcast in February to discuss India's technological and cultural future. Fridman, an American podcaster and computer scientist known for interviewing global leaders, is excited to visit India for the first time. This will be PM Modi's second podcast feature, following his debut on Nikhil Kamath’s podcast. The upcoming interview aims to provide insights into India's growth trajectory and PM Modi's leadership vision.

Peak XV, Surge, Unilever Ventures land a bonanza as HUL snaps up Minimalist

VCCircle

VCCircle · 10m ago

Peak XV, Surge, Unilever Ventures land a bonanza as HUL snaps up Minimalist

Hindustan Unilever Ltd (HUL) has agreed to acquire Minimalist, a direct-to-consumer skincare brand, to enhance its skincare and personal care portfolio. As a result, venture capital firm Peak XV Partners, its seed-stage platform Surge, and Unilever Ventures are set to achieve significant returns on their investment in Minimalist. This acquisition marks a strategic move for HUL to expand its offerings in the competitive skincare industry.

PM Modi likely to meet Elon Musk during US visit: Report

Economic Times

Economic Times · 9m ago

PM Modi likely to meet Elon Musk during US visit: Report

Tesla CEO Elon Musk is expected to meet Indian Prime Minister Narendra Modi during Modi's visit to the United States next week. Modi's visit, scheduled from February 12 to 14, includes meetings with select chief executives, likely including Musk on February 13. While Musk has shown interest in Tesla entering the Indian market, there is no official confirmation of the meeting yet. Musk might also discuss Starlink approvals and collaboration with the Indian Space Research Organisation.

GST reboot: Will bold changes prove to be a silver bullet for India?

Livemint

Livemint · 3m ago

GST reboot: Will bold changes prove to be a silver bullet for India?

Prime Minister Narendra Modi announced a major GST revamp by Diwali, proposing to scrap the 12% and 28% GST slabs. This initiative aims to simplify the tax structure and boost consumption. However, the final decision rests with the GST Council, comprising representatives from the Centre and states. While the proposed restructuring could address the demand for simpler indirect taxes, it's uncertain if it will significantly enhance consumption.

GST bonanza set to make FY26 a record year for auto industry: TVS Motor official

Economic Times

Economic Times · 2m ago

GST bonanza set to make FY26 a record year for auto industry: TVS Motor official

TVS Motor anticipates a record year for the two-wheeler industry in FY26 due to GST tax cuts on internal combustion engine vehicles and rising festive demand. The GST reduction from 28% to 18% on ICE two-wheelers under 350cc becomes effective on September 22, and TVS plans to pass this benefit to customers. Despite a CAGR of 2% over three years, TVS aims to surpass the FY19 peak with strong growth in the sporty scooter segment.

Economists track GST rate cuts for impact on prices, inflation and festive demand

Economic Times

Economic Times · 2m ago

Economists track GST rate cuts for impact on prices, inflation and festive demand

Economists are monitoring the impact of recent GST rate cuts on prices, inflation, and consumer spending during the festive season. The GST Council has lowered rates on several items, like small cars and processed foods, to boost domestic consumption amid global uncertainties. These changes are expected to benefit consumers and potentially increase GST collections, especially during the festive period, highlighting a strategic move to enhance spending and economic activity.

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