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Mahindra and Mahindra Ltd. showcased concept designs for four new cars, which will be built on their new platform called NU_IQ. The company plans to begin launching these cars starting 2027 with an aim to grow presence in global markets, top company executives said at an event in Mumbai Read more
The Centre has proposed continuing with the 5% and the 18% tax slabs under the goods and services tax in its recommendations to the rate rationalisation panel constituted by the GST Council, a senior government source said. In its recommendation to the Group of Ministers reviewing the GST rate structure, the government also suggested doing away with the 12% and the 28% tax slabs, the source said. Read more
The wait for goods and services tax reforms may finally come to an end. Prime Minister Narendra Modi Friday said that the government was reviewing the indirect tax regime and next generation reforms will be brought by Diwali. He said tax on regular-use items will be brought down significantly, which will help lower prices of such goods and also help domestic micro, small, and medium enterprises. Read more
By Shubham Rana and Aaryan Khanna
It took S&P Global Ratings 18 years to upgrade India's sovereign credit rating, vindicating the country's half a decade of fiscal discipline, focus on high quality expenditure, and resilient economy. Read more
By Anshul Choudhary
India's top listed companies reported a sharp improvement in year-on-year earnings growth in the June quarter, aided by a slower rise in tax outgo and a low base of last year, when earnings growth was only single digit. However, revenue growth for these companies remained weak in the latest quarter and was even lower than in the previous two quarters. The latest quarter marked the ninth straight quarter of single digit growth in sales for the Nifty 50 companies. Read more
Amidst the diplomatic dilemma that India finds itself in, a group of Indian delegates are scheduled to visit Russia later this month, a senior government official said Thursday. Among a host of discussions, settling bilateral trade in rupee may also be discussed, the official added. Read more
The Indian government expects other global rating agencies to follow S&P Global Ratings and upgrade India's long-term sovereign credit rating, Economic Affairs Secretary Anuradha Thakur said Thursday. "We do expect that other rating agencies will also take note of the factors which have led to an upgrade by S&P and follow suit," Thakur told Informist. Read more
S&P Global Ratings Thursday upgraded India's long-term unsolicited sovereign credit rating to 'BBB' from 'BBB-', becoming the first major ratings agency to do so. S&P cited the Indian economy's resilience and sustained fiscal consolidation for the rating upgrade. The ratings agency had cited the same reasoning when it upped its outlook on India's long-term rating to 'positive' from 'stable' in May last year. Read more
By Anand JC and Gopika Balasubramanium
Ashok Leyland Ltd. plans to step up its exports to countries part of the Association of Southeast Asian Nations as they hold huge potential for the products offered by the commercial vehicle maker, its management told reporters in a press conference on Thursday. "We think that ASEAN is a market which presents a huge potential for the kind of products we have. And, therefore, we are looking at ASEAN very, very seriously," a top executive of the company said. Read more
By Gopika Balasubramanium
Ashok Leyland Ltd. reported a rather dismal performance for the June quarter, as its net profit growth, albeit in double digits, was the slowest in four quarters. Growth in revenue from operations was also at a three-quarter low. However, its operating margin improved on year. Read more