SBI and IOB have revised their MCLR rates by 5 and 10 basis points, respectively, across all tenures. SBI's rates now range from 7.90-8.85%, while IOB's rates range from 8.05-8.85%. Other banks like HDFC and Bank of Baroda have also adjusted their rates, with HDFC reducing its rates by 5 basis points and Bank of Baroda reducing its rates by 10-35 bps.
On September 5th, India celebrates Teacher's Day to honor the birth anniversary of Dr. Sarvepalli Radhakrishnan, a philosopher and the second President of India. Let's show our appreciation to the teachers who have played a significant role in shaping our lives by sharing Happy Teacher's Day 2025 wishes, quotes, messages, and greetings.
Eid Milad un Nabi 2025 celebrates the birth of Prophet Muhammad, with Muslims worldwide honoring his life and teachings of peace, compassion, and kindness. The festival is marked by prayers, acts of charity, and spending time with loved ones. Let us embrace the Prophet's teachings and spread love and positivity on this day of reflection and celebration.
CBIC chairman Sanjay Kumar Agarwal announced that there will be no refund of compensation cess paid on stocks of automobiles, aerated drinks, and coal as of September 22, resulting in the lapse of input tax credit. This decision has raised concerns among automobile dealers, who estimate losses of Rs 2,500 crore.
The government has lowered GST rates on medicines and medical devices, aiming to help patients and boost demand for healthcare products. Reforms have also been implemented to address working capital problems and speed up refunds. However, concerns remain about the government's evaluation of refund claims and the need for further rate rationalization, especially for APIs.
The reduction in GST on construction materials, including cement, is predicted to have a positive impact on the struggling affordable housing sector. This move is expected to lower costs and prices of apartments, especially those priced below Rs 40 lakh. It is also expected to benefit developers, consumers, and may even drive demand for cement in rural housing.
Tax cuts on fertilisers, agro-chemicals, and farm machinery will reduce input costs and promote sustainable farming. This move is expected to boost farmers' income, stabilize food supply, and enhance affordability for both farmers and consumers. Lower taxes on critical chemicals and unprocessed agricultural products will also provide relief to farmers and consumers.
Food companies are choosing to make smaller packs bigger instead of lowering prices because of new GST rates. This avoids coinage problems and possible anti-profiteering actions. FMCG firms will likely experience a 6-8% rise in smaller pack sizes and a 5% decrease in larger packs, resulting in higher consumption and better deals for consumers in categories with lower taxes.
The rollout of GST 2.0 has left dealers and distributors in the FMCG and cement industries uncertain. FMCG distributors are seeking clarity on how to use input tax credit, while cement dealers are preparing for negotiations on higher discounts. Concerns about trade de-stocking and a decrease in demand are also rising.
Indian students are opting for alternative higher education destinations like Germany and the UAE due to increasing costs, stricter visa rules, and uncertain post-study work opportunities in the US. Affordability and career prospects are now top priorities, leading to a preference for shorter and job-oriented courses. Canada and the UK have seen a decrease in student visas.
Investors took advantage of the GST rate rationalisation announced by Nirmala Sitharaman, causing benchmark indices to give up early gains. Sensex and Nifty closed with marginal gains due to a "sell-on-news" strategy. The simplified tax structure is expected to increase festive demand and revive consumption, potentially adding 100-120 basis points to GDP growth and unlocking strong economic wave.
E-commerce platforms are rushing to update their systems to comply with the newly announced GST rate slabs before the start of their biggest sales season. The reforms, effective September 22, have landed right before Flipkart and Amazon's annual sales events, leaving them with little time to adjust. While the companies remain optimistic, there are concerns about potential challenges.
The GST rejig will impose a 40% tax rate on sin goods, with additional levies to maintain high tax incidence. These measures will be implemented after the compensation cess ends in October-November, according to CBIC chairman Sanjay Kumar Agarwal. Luxury items like cars and bikes will be exempt, while the tax hike on sin goods is projected to generate an extra Rs 45,000 crore in annual revenue.
Indian Institute of Technology-Madras (IIT-M) and Indian Institute of Science (IISc) have secured the top three positions in the overall National Institutional Ranking Framework (NIRF) rankings for 2025. IIT Madras maintained its top spot and also topped in other categories such as engineering and sustainable development goals.
The recent tax cuts by the GST Council have been well-received by Corporate India, as it is expected to boost domestic demand and provide relief to households. These reforms, after eight years of GST's introduction, are seen as a game-changing move that will accelerate growth and empower consumers. The reduction of GST rates in essential categories is expected to increase accessibility.
Kaynes Semicon, the semiconductor subsidiary of Kaynes Technology, is set to deliver its first chip from its outsourced semiconductor assembly and testing (OSAT) facility in Sanand, Gujarat, by October. The company expects to break even within 18 months and is eyeing a public listing once revenues cross $100 million.
The recent reduction in GST rates before state elections is being exaggerated for political gain. However, India's rates are already low compared to other countries and the tax-GDP ratio is lower. The previous tax system was more complex, and rate cuts have mostly benefited top corporations. The belief that lower prices will increase demand and offset revenue loss is unlikely in the economy.
Several states and cities in India will have bank closures on September 5 for Eid-e-Milad un-Nabi and Onam festivals, and on September 8 in Maharashtra. The Reserve Bank of India has declared no transactions and settlements on September 8, with postponed settlements on September 9. Other bank holidays in September include September 6, 12, 22, 23, 29, and 30, varying by state and region.
The recent GST rate cuts are projected to cause a yearly deficit of Rs 10,664 crore in IGST on imports, as per GTRI. While certain products will have higher IGST rates, the overall aim is to reduce costs, control inflation, and promote local production and investments. The government is hopeful that the move will have positive effects on the economy.
The Indian government's plan to reduce GST on renewable energy devices and equipment from 12% to 5% is expected to have significant benefits. It will decrease project costs, speed up clean energy capacity growth, and lead to lower tariffs for discoms. This change is also expected to make solar and wind power projects more appealing to discoms and end users.
Millionaires may have different morning routines, but they all prioritize their physical and mental well-being. From early morning workouts to setting daily goals and practicing mindfulness, these intentional habits control their productivity and motivation. While some wake up as early as 3:45 AM, others start their day at 6:30 AM.
The recent increase in GST on oil and gas EDP contracts is expected to negatively affect upstream operations and increase production costs. However, the removal of compensation cess on coal will benefit the thermal power sector and potentially lead to lower tariffs for consumers. This could pose a challenge to the government's efforts to boost domestic oil production.
Maruti Suzuki India chairman RC Bhargava believes that the recent GST reduction on small cars will have a major impact on the industry. Popular models like Alto and Wagon R are expected to see a drop in prices, leading to significant savings for buyers. This, along with other factors like lower income tax and inflation, is expected to boost demand and revive the struggling small car market.
Bajaj Allianz General Insurance's CEO, Tapan Singhel, expects policyholders to benefit from the complete passing on of GST rationalisation, resulting in an 18% decrease in premiums. This will make insurance more accessible, potentially increasing demand. While there may be initial hesitation, the long-term impact is expected to be positive, with improved affordability.
HMIL has launched the Hyundai CRETA Electric Knight, i20 Knight, and ALCAZAR Knight as part of their Knight lineup for the upcoming festive season. These models boast striking black designs and luxurious features such as black alloy wheels, red brake calipers, and brass color inserts in the black interiors. The CRETA Electric Knight offers two battery pack options.
TVS Motor Company has launched the Ntorq 150 in India, available in two variants with a starting price of Rs 1.19 lakh. It offers a sleek design inspired by a stealth aircraft, with advanced connectivity and safety features. The scooter also boasts a full-TFT instrument panel and over 50 connected features. It is powered by a 149.7cc engine and can reach a top speed of 104 kmph.
India Post Payments Bank, launched 8 years ago, has revolutionized financial inclusion in the country. With over 1.65 lakh post offices and services in 13 languages, it has reached 12 crore customers, mostly from rural India. The bank offers digital savings accounts and cross-border remittances, and has been praised by India's leadership for empowering rural communities.
The recent GST rate overhaul in India is set to stimulate consumption and drive economic reforms. The upcoming festive season is expected to witness increased buying due to lower tax slabs for everyday goods, automobiles, and household essentials. The auto sector, FMCG, consumer durables, and retail sectors are expected to benefit from this change.
The recent reduction in GST rates for solar modules and cells is expected to drive growth in the renewable power sector in India. This move will make solar power more affordable and competitive, leading to an increase in demand for solar players and developers. While there may be some initial challenges, this policy change is crucial for India's efforts towards achieving its green energy targets.
After a decade, The Great Indian Kapil Show returns on Netflix with Kiku Sharda still on the team despite rumours of quitting. He has also finished shooting for upcoming episodes and will appear on a new reality series, competing with the show. Archana Puran Singh is also confirmed to stay on the show.
Gunther Fehlinger-Jahn, an Austrian economist and activist, caused controversy by suggesting the breakup of India into smaller parts, including a separate Sikh homeland. He also referred to Prime Minister Modi as a "Russian man" and shared a map depicting northern Indian states as part of Khalistan.
Mercedes-Benz dominates the Indian luxury car market with a diverse range of vehicles. Their AMG division, known for their experience in Formula One, has added the AMG CLE 53 Coupe to their lineup. This performance grand tourer boasts a stunning design, luxurious interior, and impressive adaptive dynamics that provide both comfort and agility on the road.
The Singhola Flyover on NH-44 in Delhi was closed due to a pothole caused by heavy rain. Commuters are advised to take alternate routes and use the Metro to avoid delays. The Yamuna river is at a dangerous level and expected to rise. This event emphasizes the need for repairs to Delhi's road infrastructure.
India's new consumer tax reform has lowered levies on items under $29, but raised them to 18% for luxury apparel. This has caused concern for global fashion brands like Zara and Levi Strauss, as well as domestic garment makers. The tax hike could also impact the wedding industry and lead to decreased sales for premium brands.
Shahid Kapoor's debut film, Ishq Vishk, brought fame to all its characters, including Vishal Malhotra's Mambo. However, a fallout with the producer left Malhotra unemployed for two years. He turned to business for financial stability but remains recognized for his on-screen roles and as the face of Harpic's ad campaign, providing him with economic security.
The GST Council has implemented a two-rate structure, exempting health and life insurance from GST. Tax rates have been lowered in various categories, benefiting FMCG, fertilisers, agriculture, and medical equipment. While the government predicts a revenue loss of Rs 48,000 crore, experts believe the increase in consumption will balance it out.
India's big GST revamp, set to take effect on September 22, is expected to boost consumption and offset the negative impact of higher US tariffs. Experts predict a 100-120 bps increase in GDP growth over the next 4-6 quarters, while traders and businesses are expected to benefit from higher volumes.
The government's recent GST rate revision has sparked concerns about fiscal sustainability and its impact on consumption. While most categories have seen a reduction in rates, the newly announced 40% category has some surprising inclusions. The FMCG sector, agricultural products, fertilisers, equipment, cement, and the auto industry are expected to benefit greatly.
Motilal Oswal hails the new GST rate overhaul as a boost to consumer sentiment and growth, with a manageable fiscal impact. The simplification of the complex four-tier rate structure to a two-tier structure and focus on ease of doing business will benefit sectors like automobiles, consumer durables, cement, and insurance. Top stocks to benefit include Maruti, HUL, Ultratech Cement, and others.
Anti-immigration rallies in Australia saw politicians and neo-nazis joining. An Indian immigrant spoke out against immigration, but was booed and had the mic taken by a violent person. Netizens had mixed reactions, questioning why he was allowed to speak. Government figures show a decline in immigration, despite claims of record high numbers.
Indian stock market sees a positive surge as GST Council announces tax changes. However, gaming, defence, and IT industries face challenges. Delta Corp and Nazara Technologies suffer losses due to high GST on casinos and online betting. Defence and IT stocks, except for TCS, witness a decline in prices despite GST rationalisation.
Nissan Motor India and Spinny have teamed up to launch a 'Preferred Exchange Partner Platform' for Nissan dealerships in India. This will provide customers with better exchange benefits and create new business opportunities for dealers. Customers can enjoy exclusive exchange benefits on new Nissan vehicles, and Spinny's vehicle evaluation teams will be available at Nissan dealerships.
Markets off early highs, Sensex and Nifty down, small and midcaps see bigger cuts. M&M and Bajaj Finance among top gainers due to new GST rates. Ola Electric, one of the biggest losers despite lower GST rates for EVs. Vishal Megamart gets ‘Buy’ rating with potential upside of 16% due to GST reforms.
Speculation is mounting that Devendra Fadnavis, Maharashtra Deputy Chief Minister, could be the next BJP president, replacing JP Nadda. Nadda's tenure has officially ended and his term was extended to steer the party through crucial contests. Organisational elections are underway, with Fadnavis, Radha Mohan Singh, and other senior leaders being considered as possible contenders.
The government has increased the GST rates on IPL tickets to 40%, putting it at par with other events like casinos and race clubs. However, movie tickets under Rs 100 will now attract only 5% GST, down from 12%. BCCI generates over half its revenue from IPL, making it a major source of income. Movie tickets priced above Rs 100 will continue to attract 18% GST.
The GST Council has raised the tax rate on carbonated drinks to 40%, while reducing it to 5% for plant-based milk drinks. This move is part of the "NextGen GST" reforms, aiming to balance health concerns and tax rationalisation. The new rates will be effective from 22 September 2025.
The GST council has introduced a new two-tier tax slab system, ranging from 5% to 40%, to be implemented from September 22. This move was made in preparation for the upcoming festivities and to boost travel, retail, and investments. The internet was flooded with memes, and opinions were divided on the increase in sin goods tax. The new rates also aim to promote a healthier nation.
The Yamuna river in Delhi has surpassed danger levels, leading to flooding and disturbance in daily life. While the water level at Old Railway Bridge is stable, it is expected to decrease. Floodwater has entered landmark areas, and relief camps have been established. Traffic jams and diversions have been reported by Delhi Traffic Police.
VECV partners with Jio-bp pulse to enhance charging infrastructure for electric commercial vehicles in India. The MoU will give VECV customers access to Jio-bp's 6000+ charging points and promote electric truck and bus adoption. The My Eicher app will also integrate charging network discoverability. This collaboration aims to drive the shift towards zero-emission vehicles.
Motilal Oswal's latest 'Buy' calls cover various sectors, with notable tax cuts on automobiles, life and health insurance, and a promising outlook for the hospitality industry. Mahindra & Mahindra, HDFC Life Insurance, and Lemon Tree Hotels are expected to see significant gains.
The GST Council has implemented a two-tier tax system for movie tickets, reducing the rate to 5% for tickets below Rs 100. While this benefits the common man, tickets above Rs 100 will still have an 18% tax. However, the increase in GST for IPL matches and sporting events will raise costs and fund their growing popularity, causing a significant increase in ticket prices for cricket enthusiasts.