Net revenue shortfall from GST revamp to be cushioned by higher RBI dividend transfer

IANS | September 5, 2025 5:10 PM

New Delhi, Sep 5 (IANS) The net revenue shortfall from GST rationalisation is estimated at 0.1 per cent of GDP for this fiscal year, to be cushioned by the higher RBI dividend transfer, a report said on Friday, adding that the GST rationalisation is a timely and positive step to support economic momentum, particularly amid persistent external headwinds.

GST rate cut will counter US tariff hike, India to keep buying Russian oil: FM Sitharaman

IANS | September 5, 2025 5:04 PM

New Delhi, Sep 5 (IANS) Finance Minister Nirmala Sitharaman said on Friday that the GST rate cut would spur growth in the economy which would offset the drag due to the adverse impact of the US tariff hike on Indian exports. She also said that India would continue to buy Russian oil because of economic considerations as crude was the costliest item in the country’s import bill.

India’s bioeconomy leaps from just $10 bn to $165.7 bn in 10 years

IANS | September 5, 2025 4:53 PM

New Delhi, Sep 5 (IANS) Over the past decade, India has emerged as one of the fastest-growing bioeconomies in the world, with the sector expanding to $165.7 billion in 2024 from just $10 billion in 2014. With an ambitious target of $300 billion by 2030, the bioeconomy is steadily becoming a cornerstone of India’s sustainable growth and innovation, driven by advancements in biotechnology, agricultural innovation, biomanufacturing, and healthcare.

GST overhaul a significant shift toward consumption-led growth: Report

IANS | September 5, 2025 3:30 PM

New Delhi, Sep 5 (IANS) The Goods and Services Tax (GST) overhaul, which comes into effect from September 22, is a significant shift aimed at stimulating growth through consumption-led strategies, especially as indirect taxes are regressive in nature, a report said on Friday.