DDIndia Business: Economic Headlines & Updates

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September 3, 2025 11:20 PM

Government unveils next-generation GST reforms; daily essentials get cheaper

Finance Minister Nirmala Sitharaman on Wednesday announced a major reform in the Goods and Services Tax (GST) regime, consolidating the 12% and 18% tax slabs into a simplified dual-rate structure of 5% and 18%, with a higher 40% rate retained for sin...

September 3, 2025 10:55 PM

Goods to turn cheaper as GST Council brings more consumer items under lower tax rates

The Goods and Services Tax (GST) Council has decided to bring a wider range of consumer goods under the lower tax slab, in a move aimed at easing the burden on households and stimulating demand. According to sources, items such as shoes and clot...

September 3, 2025 11:21 PM

PM Modi meets global semiconductor CEOs, says India emerging as innovation hub

Prime Minister Narendra Modi on Wednesday interacted with top global semiconductor CEOs at SEMICON India 2025 and said industry leaders have expressed strong confidence in India’s potential to become a hub for innovation and manufacturing. In ...

September 3, 2025 6:05 PM

GST Council meet: States to remain net gainers despite rate rejig, say experts

While some states raised concerns over possible revenue loss at the 56th meeting of the GST Council on Wednesday, fresh estimates suggest that states will remain net gainers under the GST framework, even after a potential rationalisation of tax rates...

September 3, 2025 4:32 PM

Sensex, Nifty gain as GST Council meet lifts investor sentiment

Indian equity indices ended higher on Wednesday as the two-day GST Council meeting began, lifting investor sentiment on expectations of tax rationalisation. The Sensex closed at 80,567.71, up 409.83 points or 0.51 per cent, after opening at 80,295.9...

September 3, 2025 3:58 PM

PMFME: Catalysing the ‘Vocal for Local’ food processing revolution

The Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) scheme is a transformative initiative aimed at converting local food processing units into the organised sector, increasing incomes, and empowering communities under “Atm...

September 3, 2025 3:37 PM

A Simpler, Smarter Tax System: India’s Income Tax Act, 2025

India has ushered in a transformative shift in its tax law with the passage of the Income Tax Act, 2025, officially notified on 3rd September 2025, and set to come into effect from 1st April 2026. This new legislation is not about raising taxes but a...

September 3, 2025 1:28 PM

Google keeps Chrome and Apple deal but must share data in big antitrust ruling

Google won't have to sell its Chrome browser, a judge in Washington said on Tuesday, handing a rare win to Big Tech in its battle with U.S. antitrust enforcers, but ordering Google to share data with rivals to open up competition in online search. G...

September 3, 2025 12:21 PM

India’s Services PMI surges to 62.9 in August, fastest growth since 2010

India’s services sector recorded its fastest pace of growth in more than 14 years, with the HSBC India Services PMI Business Activity Index rising to 62.9 in August from 60.5 in July, according to the HSBC PMI survey report. This marked the steepe...

September 3, 2025 11:38 AM

US imposes sanctions on network for transporting Iranian oil

The U.S. Treasury Department on Tuesday sanctioned a network of shipping companies and vessels led by an Iraqi-Kittitian businessman for smuggling Iranian oil disguised as Iraqi oil. The administration of President Donald Trump is keeping pressure o...

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