Business

Mahindra & Mahindra on Saturday announced a reduction of up to Rs 1.56 lakh across its passenger vehicle range, passing on the benefit of the GST rate cut to customers.The move comes after the revamped Goods and Services Tax (GST) structure was cleared at the 56th GST Council meeting on September 3. The revised prices for all applicable internal combustion …

Calling the landmark GST overhaul a “people’s reform”, finance minister Nirmala Sitharaman said the sweeping rationalisation of tax rates across nearly 400 products will benefit every family, lower household bills, and boost consumption, giving a fresh push to the economy.In an interview to PTI, Sitharaman emphasised that she would personally monitor whether the benefits of the cuts are passed on …

The sweeping changes in Goods and Services Tax (GST) rates announced by the government will come into effect from September 22, the first day of Navratri, Union minister Ashwini Vaishnaw said on Saturday, calling it a transformative step for the economy.Speaking at a press conference at the BJP headquarters, Vaishnaw said the rationalisation of rates and simplification of the tax …

A programme providing school holiday clubs for thousands of children in Cornwall has been extended. The Time2Move holiday programme supports families with activities and healthy food for children aged between five and 16, and is fully funded for those eligible for benefits-related free school meals, the government has confirmed. The government announced a three-year extension for the scheme, as part …

The sweeping GST rate reductions announced this week will bolster consumer spending and benefit sectors such as footwear, quick-service restaurants (QSRs), FMCG, and grocery retail, according to Global financial consultancy Bernstein. In a report, Bernstein flagged a notable shift: the reduction of GST on personal care and household products — including soaps, shampoo, hair oil, powder and toothpaste — from …

The Federation of Seed Industry of India (FSII) on Saturday welcomed the GST Council’s decision to slash rates on key agricultural inputs but urged the government to extend similar relief to the seed sector.According to FSII, the reduction of GST on fertiliser raw materials, bio-pesticides, micronutrients and farm machinery will lower input costs and strengthen the rural economy.“This is a …

Gold futures for October delivery have risen substantially, climbing approximately Rs 6,500 within the last month to achieve an unprecedented Rs 1,07,807 per 10 grams on the Multi Commodity Exchange (MCX) on Friday.The upward movement persists despite recent profit collection preceding vital US employment statistics, whilst global economic uncertainty and central bank purchases continue to provide robust backing to the …

Employment data for August revealed significant weakening in US job market conditions, with unemployment climbing to 4.3%, marking a nearly four-year peak. This development strengthens expectations for a Federal Reserve interest rate reduction this month, according to Reuters.The Friday employment report further disclosed June’s first job losses in four and a half years, raising concerns about economic stagnation. Job creation …

President Trump has identified three candidates as frontrunners to replace Jerome Powell as Federal Reserve chair: his advisor Kevin Hassett, former Fed governor Kevin Warsh, and sitting Fed governor Christopher Waller.At the White House, Trump told reporters that Scott Bessent was initially considered, but the Treasury secretary declined interest. “I had four,” Trump said. “Now I’m talking about three. He …

With India’s elderly population projected to reach 21 per cent by 2050, there is growing urgency for a robust retirement savings framework. UN data from 2023 shows that while 43 per cent of Indians were under 25, only 11 per cent were above 60, hinting at the demographic shift ahead. To address this challenge, the Association of Mutual Funds in …