Business

Govt May Replace GST’s Four-Slab System With Two-Tier Tax Rates
15 Aug

Govt May Replace GST’s Four-Slab System With Two-Tier Tax Rates

Rajeev Sharma0 CommentsBusiness, India, Trending
New Delhi: The Union government is weighing a significant overhaul of the Goods and Services Tax framework, with plans to eliminate the 12% and 28% tax brackets and move to a simpler two-slab system, government sources revealed on Friday. Under the proposed structure, GST would be charged at either 5% or 18% on most goods and services. The 28% slab could remain only for a narrow category of luxury or sin goods, while the 12% rate would be merged into the 18% bracket. The move is aimed at simplifying tax compliance, reducing classification disputes, and bringing greater transparency to the…
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US Treasury Warns India Could Face Higher Tariffs if Trump-Putin Talks Fail
14 Aug

US Treasury Warns India Could Face Higher Tariffs if Trump-Putin Talks Fail

Rajeev Sharma0 CommentsBusiness, India, , ,
Washington, August 14, 2025: US Treasury Secretary Scott Bessent has warned that secondary tariffs on India could rise further if President Donald Trump’s upcoming talks with Russian President Vladimir Putin in Alaska do not deliver progress.In an interview with Bloomberg on Wednesday, Bessent said, “We put secondary tariffs on the Indians for buying Russian oil. I could see, if things don’t go well, then sanctions or secondary tariffs could go up.”President Trump last week announced 50 per cent tariffs on Indian imports, including a 25 per cent duty on crude oil purchases from Russia. The new measures are scheduled to…
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Air Canada Serves 72-Hour Lockout Notice to CUPE, Begins Wind-Down of Operations
14 Aug

Air Canada Serves 72-Hour Lockout Notice to CUPE, Begins Wind-Down of Operations

Rajeev Sharma0 CommentsBusiness, Canada, Trending
Calgary (Rajeev Sharma) : Air Canada has issued a statutory 72-hour lockout notice to the Canadian Union of Public Employees (CUPE), representing 10,000 flight attendants at Air Canada and Air Canada Rouge. The move follows CUPE’s notice of intent to strike as early as August 16. To provide passengers with certainty, the airline will begin a phased wind-down of most operations over the next three days and has requested government directed arbitration to resolve the impasse. Despite eight months of negotiations with federal conciliators, Air Canada says no tentative agreement could be reached, even after its August 11 proposal offering…
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US Tariff Hike to Hit Indian Exporters Hard, Warns Crisil
13 Aug

US Tariff Hike to Hit Indian Exporters Hard, Warns Crisil

Rajeev Sharma0 CommentsBusiness, , ,
New Delhi: Indian exporters are bracing for a sharp earnings decline after the United States announced a steep 50 per cent tariff on imports from India, Crisil Ratings reported. The move adds a fresh 25 per cent penalty, effective August 27, to the 25 per cent reciprocal tariff already in place.The penalty is tied to India’s continued crude oil purchases from Russia and is expected to make Indian goods less competitive in the American market compared to most Asian rivals, except China. High-value sectors including diamonds, shrimp, home textiles, carpets, and ready-made garments are set to take the brunt of…
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Air India Announces Suspension of Non-Stop Services to Washington, D.C.
13 Aug

Air India Announces Suspension of Non-Stop Services to Washington, D.C.

Rajeev Sharma0 CommentsBusiness, India, World News
Canada ( Rajeev Sharma): Air India has announced that it will discontinue its direct flights between New Delhi and Washington, D.C., effective September 1, 2025, citing reduced aircraft availability and continued airspace restrictions as primary reasons. This decision will result in the termination of the only direct air link between the two capitals operated by an Indian carrier. The suspension is attributed to a planned shortage in the airline's long-haul fleet, with 26 Boeing 787-8 aircraft undergoing an extensive retrofit program. These upgrades, aimed at enhancing passenger comfort and experience, include modern seating, updated in-flight entertainment systems, and refreshed cabin…
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Cabinet approves semiconductor manufacturing units in Odisha, Punjab and Andhra Pradesh with an outlay of Rs.4600 crore
12 Aug

Cabinet approves semiconductor manufacturing units in Odisha, Punjab and Andhra Pradesh with an outlay of Rs.4600 crore

Rajeev Sharma0 CommentsBusiness, India, , , , ,
National Times Bureau, Aug 12, 2025: The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved four more semiconductor projects under India Semiconductor Mission (ISM).Momentum is building up in semiconductor ecosystem in India with the six approved projects already in various stages of execution. These four proposals approved today are from SiCSem, Continental Device India Private Limited (CDIL), 3D Glass Solutions Inc., and Advanced System in Package (ASIP) Technologies.These four approved proposals will setup semiconductor manufacturing facilities with cumulative investment of around Rs.4,600 crore and are expected to generate a cumulative employment for 2034 skilled professionals which would catalyse…
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Tesla to Open Second India Experience Centre in New Delhi on August 11
10 Aug

Tesla to Open Second India Experience Centre in New Delhi on August 11

Rajeev Sharma0 CommentsBusiness, India, , , ,
New Delhi, August 10, 2025 – US electric vehicle giant Tesla will open its second Indian Experience Centre on August 11 at Worldmark 3, Aerocity, New Delhi, further expanding its footprint in the country’s rapidly growing EV market. The centre will offer visitors the opportunity to explore Tesla’s latest electric offerings, including the recently launched Model Y midsize SUV.Tesla entered the Indian market on July 15 with the Model Y, priced from ₹60 lakh. The SUV is available in two variants — the ₹60 lakh Rear-Wheel Drive, delivering a range of up to 455 km and accelerating from 0–100 km/h…
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Government Withdraws Income-Tax Bill, 2025; Revised Version to be Introduced on August 11
08 Aug

Government Withdraws Income-Tax Bill, 2025; Revised Version to be Introduced on August 11

Rajeev Sharma0 CommentsBusiness, India, , ,
New Delhi, August 8, 2025 — The Central Government on Friday formally withdrew the Income-Tax Bill, 2025 from the Lok Sabha, paving the way for a revised draft that will incorporate extensive recommendations from the Parliamentary Select Committee. The motion for withdrawal, moved by Finance Minister Nirmala Sitharaman, was passed by the House despite uproar from Opposition members.The decision follows a comprehensive review of the Bill by a 31-member Select Committee chaired by BJP MP Baijayant Panda. The panel had presented its findings on July 21, the opening day of the Monsoon session. Over several weeks of deliberations and consultations…
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India Will Not Bow to Pressure: PM Modi Reaffirms Commitment to Farmers Amid Tariff Tensions with US
07 Aug

India Will Not Bow to Pressure: PM Modi Reaffirms Commitment to Farmers Amid Tariff Tensions with US

Rajeev Sharma0 CommentsBusiness, India, Trending
New Delhi (Rajeev Sharma): Prime Minister Narendra Modi sent a clear and defiant message to the global stage on Thursday, asserting that India will always prioritize the interests of its farmers, regardless of the international consequences. His remarks came during the MS Swaminathan Centenary International Conference, held in honor of the legendary agricultural scientist known as the father of India’s Green Revolution. “In our journey of development, the welfare of our farmers, fishermen, and dairy workers remains non-negotiable,” PM Modi said. “India will never compromise on their interests. Even if it comes at a cost, I am fully prepared to…
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