Economy News ( English version)

Haldia Petrochemicals subsidiary Adperma is considering an initial public offering to fund its expansion into specialty chemicals and advanced polymers.

Under the Code on Social Security, 2020, aggregators are required to contribute 1-2% of annual turnover towards social security for gig and platform workers, subject to a cap of 5% of the amount paid or payable to such workers.

Average ticket size of an apartment at The Aureva is ₹11.5 crore, at ₹28,000 per sq ft. Each residence is complemented by three parking spaces and access to a suite of wellness, recreational, and lifestyle amenities.

For over 30 years, Angel One has adapted to a changing brokerage landscape. Now, regulatory pressure and intensifying competition are forcing another reset. Where does Angel One go from here?

Lockheed Martin plans to expand its manufacturing in India if it wins a $10.5 billion contract for 60 medium transport aircraft. It has partnered with Tata Advanced Systems and aims to deliver 12 aircraft initially, while 48 will be produced locally, enhancing India's aviation capabilities.

The GST Council will assess various procedural reforms aimed at simplifying tax compliance for businesses. Proposed measures include enabling small e-commerce vendors to register using platform warehouses. Additionally, the input tax credit for genuine buyers will be protected even if suppliers fail to remit tax.

The GST Council is gearing up to consider a proposal regarding input tax credit for employee insurance premiums. Currently, businesses cannot claim input tax credit on insurance policies purchased for their employees. An 18 percent GST is imposed on these group insurance policies, impacting business expenses.

The GST Council is weighing changes to GST enforcement, including ending officials' arrest powers and shifting to court-ordered arrests. Criminal prosecution may be limited to cases involving more than Rs 5 crore, while routine disputes over GST interpretation could be handled through civil penalties and kept outside criminal courts.

India's continued economic resilience, supported by strong corporate performance and sustained investment activity, is now being reflected in upward revisions to the country's growth estimates by various international agencies, Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation (MoSPI), said.

The RBI is expected to raise the repo rate by 25 basis points in its October policy review as inflation pressures build from higher crude prices, the West Asia conflict and global monetary tightening, according to a PTI poll of economists and bankers. Most also expect a hawkish tone, a higher FY27 inflation forecast and possibly further rate hikes later in t […]