Tax encouragement
The Council of Goods and Services (GST) has announced a significant reduction in tax on Wednesday, which covered basic and aspiration goods from packaged foods after consumer electronics. The reform makes Indian indirect tax structure from four to two tax boards. The aim of this stroke friendly to consumers, effective 22 September, is to provide relief during the festive season. In addition, several items such as tobacco and related products and luxury vehicles will be taxed in an extreme 40% of the holder. However, the implementation faces challenges because several states raised concerns about fiscal consequences and required compensation for the central government.
Ramp
After the turbulent August marked cloudbursts and landslides in many areas, India is preparing for an unusually wet final for the southwestern monsoon season. From 1 June to 3 September, the Earth received 781 mm precipitation, 8.3% above normal. After the early onset, the rainfall slowed in the first weeks, but since mid -June they raised the pace and have since largely exceeded the normal level, showing data from the Indian meteorological department (IMD). IMD now predicts September precipitation above normal, probably exceeding 109% of the monthly long -term diameter of 167.9 mm, which signals extended and intensive monsoon.
Mineral mission
£1 500 crore: This is the value of a new scheme approved by a trade union cabinet to increase the recycling of batteries and electronic waste to extraction of critical minerals such as lithium, cobalt and nickel, vital for electronics, electric vehicles and renewable energy. The six -year plan offers a 20% subsidy per capital for plant and machinery and spread out operating subsidies, with one third of the expenditure reserved for startups. Officials expect to attract this £8,000 crore investment, create about 70,000 jobs and add 270 kilotons of annual recycling capacity, building a more durable and separate domestic supply chain for these minerals.
Deficit Narrows
The Indian current account deficit (CAD) in the first quarter (Q1) of 2025-26 narrowed sharply to $ 2.4 billion from $ 8.6 billion a year ago, the data on the Bank of India showed. The previous quarter recorded an excess of $ 13.5 billion due to a jump in remittings and net services. However, the surplus could not be maintained in the first quarter as a wider lack of trade trade and relatively lower net revenues for compensation, Mint said. The lower deficit was supported by a 21% increase in service income, an 18% increase in remittances and the divided US exports.
Traffic Fatm
In July, the Indian air sector recorded a wide slowdown in aerospace personal traffic, after the conflict in India-Pakistan, the accident of aviation India and heavy monsoon rains. Airport data from the Indian airport office (AAI) showed that the northern region was the worst affected, with a decrease of 10.7% in May, 5.6% in June and 9.8% in July, which meant contraction for three consecutive months. By July, all regions except the south have seen a year -on -year decline. The beauties of capacity, the suspension of the route and the seasonal monsoon are further infected with the inhibitions for traveling across the country.
Agricultural funds
£1,15 trillion: This is an overall investment attracted by the government agricultural infrastructure fund since July 2020, Mint reported. The fund, which aims to reduce losses after harvesting and increases the revenue of farmers, has so far funded over 123,650 projects throughout India. It provides financial assistance, including interest submarines 3% per year for up to seven years, to support projects such as hiring centers, warehouses and processing units. Scheme has so far sanctioned loans worth £71 720 crore and paid £49 500 crore.
BUCKS Bank
Salaries in the Indian banks of the private and public sector in 2024-25 increased sharply. UCO Bank has led public banks with average salary £25.9 Lakh, followed by the Bank of Maharashtra to £23.6 Lakh and Bank of India in £20.4 Lakh, the data assembled by the mints showed. Among private banks has reached an average salary in IDFC First Bank £13.5 Lakh, Icici Bank £12.6 Lakh and Kotak Mahindra Bank £10.5 lakh. The data reflects robust year -on -year growth, with PSB benefiting from structured salary scales and private banks offering competing increments associated with performance.
Graph of the Week: Savings Show
Indians lag far beyond global peers in monthly savings, with an average of $ 315, the location of Earth 10. In the ranking in Asia. For comparison, Singapore leads to $ 3,030, followed by SAE ($ 2,796) and South Korea ($ 2,8,8), emphasizing a significant gap in the financial security of the household and the limited ability of Indian households to save.
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(Tagstotranslate) reduction of GST
