Sitharaman Tables Bills For New Levies On Tobacco Products
The Central Excise (Amendment) Bill, 2025, seeks to replace the GST Compensation cess, which is levied on all tobacco products currently
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Sitharaman Assures Stable Inflation As It Declines From 5.1%
- by BW Retail World Bureau
- February 8, 2024
Finance Minister Nirmala Sitharaman, while addressing the Parliament during the discussion on the Interim Union Budget for 2024-25, emphasised key financial indicators and government initiatives aimed at bolstering economic growth and fiscal stability. Sitharaman’s remarks shed light on various aspects of the budget, including inflation, capital expenditure, and allocations for Jammu and Kashmir. Addressing inflation […]
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CMAI Seeks Amendment In MSMEs’ Credit Structure
- by BW Retail World Bureau
- February 7, 2024
The Clothing Manufacturers Association of India (CMAI) has expressed appreciation for the Government of India’s efforts in introducing the MSME Payment amendment to the Income Tax under Section 43 (b) (h) to tackle issues of delayed and non-payment faced by the MSME sector. However, the amendment has led to significant adverse consequences for the domestic […]
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Focus On Youth, Tech & Innovation: FM Sitharaman Unveils Interim Budget 2024-25
- by BW Retail World Bureau
- February 1, 2024
Finance Minister Nirmala Sitharaman has presented the budget for the sixth time. On Thursday, she unveiled the interim budget for FY 2024-2025 ahead of the official government takeover in July 2024. Sitharaman expressed confidence in BJP’s victory in the upcoming general election this year. She stated, “In July 2024, our administration will present a comprehensive […]
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India Aims For Developed Nation Status By 2047: FM Nirmala Sitharaman
- by BW Retail World Bureau
- February 1, 2024
Finance Minister Nirmala Sitharaman stated on Thursday that the government intends to convert India into a developed country by 2047. During the interim Budget 2024-25 presentation, she stated that minimum support prices for ‘Annadata’ (farmers) had been raised frequently and properly. Sitharaman emphasised the government’s commitment to social justice as an effective and necessary model, […]
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Interim Budget 2024: Sitharaman May Put Cash In Hands, Rural Push & Tax Tweaks
- by BW Retail World Bureau
- January 29, 2024
Finance Minister Nirmala Sitharaman is preparing to present her sixth consecutive budget on 1 February. The budget’s focus is expected to be on putting more money in the hands of the people, with probable tweaks to tax slabs or an increase in basic deductions as possible avenues for achieving this goal. Another recommendation is to increase finances for the […]
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Trade
India, EFTA Nearing Free Trade Agreement, Officials Say Progress Made
- by BW Retail World Bureau
- December 14, 2023
European Free Trade Association member countries and India are making “progress” on an agreement on free trade, with officials saying that the two sides have “never been closer” to a pact. In exclusive interviews with ANI on Wednesday, Norwegian Trade Minister Jan Christian Vestre and Swiss State Secretary for Economic Affairs Helene Budliger Artieda commended […]
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Retail
CAIT Calls For Lower GST Rate On Beverages To Boost Small Retailers’ Income
- by BW Retail World Bureau
- May 8, 2023
The Confederation of All India Traders (CAIT) urged finance minister Nirmala Sitharaman for a reduction in the goods and services Tax (GST) rate on beverages. Currently, beverages are subjected to a GST rate of 40 per cent, which includes GST plus Cess, significantly impacting the working capital of small retailers. B.C. Bhartia, CAIT National President […]