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Revenue growth for the beleaguered auto components sector would halve in next two fiscals due to a steep decline in domestic vehicles sales.

Auto industry has to find its own balance to enhance demand: SIAM

At present, 60 per cent of auto components are taxed at 18 per cent.

21 Sept 2019 12:17 PM IST

Revenue collection from the Goods and Services Tax (GST) had slipped below the Rs 1 lakh crore mark for the first time in the current fiscal in June at Rs 99,939 crore. (Photo: File)

Fitment panel rejects GST rate cut for auto, biscuits; favours relief...

Automobile industry has long been demanding reduction in GST rate from the present 28 per cent to 18 per cent.

18 Sept 2019 7:51 PM IST

Sanjeev Sanyal, principal economic adviser at the Finance Ministry.

More space on monetary side than fiscal for boosting growth: Sanyal

Economic growth hit over six-year low of 5 per cent for the first quarter ended June 2019 mainly driven by demand...

18 Sept 2019 12:42 PM IST

Finance Minister Nirmala Sitharaman (Photo: File)

'Blueprint ready': Govt mulling fourth booster dose to revive economy

Last week, the government announced a slew of measures to boost exports and the real estate sector.

18 Sept 2019 9:24 AM IST

Other automakers are likely to follow suit, which would lead to loss of at least contractual jobs.

GST panel unlikely to favour tax rate cut for auto sector: sources

Total annual revenue loss could be as much as 500 bn rupees if the panel decided to lower tax rates for auto sector to...

18 Sept 2019 8:58 AM IST

While imports of all products in the man-made fibre (MMF) value chain has steeply increased since the introduction of GST, destructing the domestic manufacturing industry, imports of polyester and viscose spun yarn have particulalry shot up multi-fold lately.

Man-made yarn imports up multi-fold in July

Imports of polyester yarn increased 193 per cent from 29,08,000 kg in July 2018 to 85,35,000 kg in July 2019.

16 Sept 2019 2:40 AM IST

The dates for filing the reconciliation statement has also been extended accordingly.

Tinkering isn't enough: Time for basic reforms

An interest burden growing faster than GDP growth by 2.5 percentage points is not a comforting signal for fiscal...

14 Sept 2019 7:04 AM IST

Sitharaman passed the onus of the slowing economy on US-China trade war and currency devaluation. (Photo: ANI)

'Modi government taken landmark steps in past 100 days,' says...

Sitharaman said creating a robust infrastructure is imperative for a fast-growing economy like India.

11 Sept 2019 9:41 AM IST

The government has announced merger of 10 public sector banks (PSBs) into four strong lenders with countrywide networks and global reach to boost credit and revive economic growth, said the minister. (Photo: ANI)

Modi government has taken landmark steps in past 100 days: Sitharaman

Listing major achievements in first 100 days, FM said creating robust infrastructure is imperative for fast-growing...

10 Sept 2019 5:31 PM IST

Auto players should take up GST rate cut demand with state FMs: MoS...

Automobile and component manufacturers have been seeking GST cut on automobiles to 18 per cent from 28 per cent

6 Sept 2019 3:09 PM IST

Auto component industry on Monday sought uniform 18 per cent GST across the sector stating that low taxation would lead to better compliance and larger tax base.

ACMA seeks uniform 18 per cent GST on all components

The auto components industry currently employs 50 lakh people and contributes 2.3 per cent to India's GDP.

6 Sept 2019 12:52 PM IST

Prakash Javadekar (Photo: G.N. Jha)

Govt doesn't subscribe to Singh's views on handling of economy:...

Earlier this week, former PM Manmohan Singh had said the state of economy was 'deeply worrying'.

3 Sept 2019 6:15 PM IST