Economy & Policy News

CBIC clarifies GST on post-sale discounts, no ITC reversal for buyers

The circular also stated that post-sale discounts given by manufacturers to dealers would not be treated as consideration for services

Crisil projects 3.2% headline inflation for 2025-26, sees room for rate cut

In its latest report, Crisil said that the moderation implies a decline of 140 basis points in CPI inflation during this financial year, which is likely to give space for monetary easing

India, EU trade talks enter crucial phase, aiming to seal deal by year end

The EU is India's biggest trading partner in goods, with bilateral trade hitting $137.5 billion in the 2023/24 fiscal year, up nearly 90% over the past decade

Govt seeks monthly reports on pricing after GST rate cuts from Sep 22

In the circular, which is seen by Business Standard, the CBIC directed principal chief commissioners to compile commodity-wise price data from trade associations

Will advocate trade reforms in India: US envoy-designate Sergio Gor

Sergio Gor says reforms in India's labour norms and market access are key to fair trade, as US aims to double bilateral trade to $500 bn by 2030

Retail inflation rises to 2.07% in Aug as decline in food prices slows

India's CPI rose slightly in August on a low base, with rural and urban prices diverging. Economists flag benefits for consumers but risks for government finances

India's forex reserves rise by $4 billion to reach $698.27 billion

In the previous reporting week, the overall reserves had jumped by $3.51 billion to $694.23 billion

India becomes third-largest agrochemical exporter with $3.3 bn exports

Agrochemical exports surged to $3.3 billion in FY25, making India the world's third-largest exporter as ACFI seeks policy support for growth momentum

Kochi Metro to draft Mumbai Water Metro DPR in ₹4.4 crore contract

Kochi Metro Rail wins consultancy contract to prepare the DPR for Mumbai's proposed Water Metro, expanding its role in sustainable mobility beyond Kerala

135,000 jobs lost in Surat due to Trump's trade tariffs: Shashi Tharoor

Congress leader Shashi Tharoor said that US tariffs have already led to around 135,000 layoffs in Surat's gems and jewellery sector, with potential job losses looming in seafood and manufacturing

Retail inflation inches up to 2.07% in August; food inflation at -0.69%

August CPI-based inflation: The food inflation for August stood at -0.69 per cent, rising 107 basis points, as compared to July

Trump's trade polices 'self-destructive', hurt India most: Ex-RBI chief

Former RBI Governor C Rangarajan said that he hopes good sense will prevail and the policy makers in the US will realise the policies they want to pursue are self-destructive

British Parliament panel opens inquiry into impact of India-UK FTA

With a target to double bilateral trade to $120 billion by 2030, the CETA has been pitched by the Prime Minister Keir Starmer-led government as a landmark agreement

World isn't transitioning away from fossil fuel; decades of robust use left

The IEA will publish its "Current Policy Scenario" this year, showing oil and gas demand won't peak this decade, overturning past assumptions, sources familiar with the draft report said

Rupee sinks to record low on strong dollar demand and tariff concerns

The rupee fell to 88.44 per dollar, its lowest ever, amid strong importer demand and tariff worries, even as RBI intervened to contain volatility in the forex market

Finance ministry, consumer affairs department review MRP circular

Businesses say they may find it difficult to reduce prices to the full extent of GST reduction because they may have paid higher input taxes on stocks lying with them. For that they won't be refunded.

India's trade parleys with US are progressing well, says Piyush Goyal

US Commerce Secretary Howard Lutnick said he believes the US will sort out a trade deal with India as soon as that country stops buying Russian oil

India's external debt rose at fastest pace in 7 years in FY25: Report

The dollar-terms growth significantly outpaced the 6.4 per cent uptick recorded in FY24, when external debt had touched $663.8 billion

Glitter to gloom on the brass lanes as export orders dry up ahead of Diwali

Strap: In the aftermath of the US tariff, a ground report from Moradabad brings out the new realities of Peetal Nagri

India's semiconductor market expected to touch $103.5 billion by 2030

According to the report, 80 per cent of the workforce has less than 10 years of experience, signaling depth at junior levels but a leadership supply gap at mid-to-senior roles