The GST Council on Saturday deferred the Group of Ministers' recommendation to lower the 18% Goods and Services Tax imposed on life and health insurance premiums, Bihar Deputy Chief Minister Samrat Choudhary said. The Council needs further discussion on the matter before a final call can be taken, Choudhary, who heads the ministerial panel tasked at looking at the matter, told reporters.Register to read
Pension Fund Regulatory and Development Authority Chairman Deepak Mohanty expects the assets under management of pension schemes to touch INR 15 trillion by the end of the current financial year. As on Dec. 14, the assets under management were INR 13.80 trillion, up 27.3% on year.Register to read
India and the Asian Development Bank Friday signed a $350-million policy-based loan to expand India's manufacturing sector and improve the resilience of its supply chains, the commerce ministry said in a release. Register to read
New and Renewable Energy Minister Pralhad Joshi said Friday that India had so far added nearly 15 gigawatt of renewable energy capacity in the financial year 2024-25 (Apr-Mar), almost double the capacity addition of 7.54 GW in FY24.Register to read
Exide Industries Ltd. is set to exceed its planned investment of INR 40 billion in its upcoming lithium-ion cell manufacturing plant in Karnataka by INR 10 billion, which could lead the hitherto debt-free company into taking some amount of bridge loans to fund the project, sources told Informist. The company now plans to invest INR 50 billion in the plant as it seeks to foray into the fast-growing lithium-ion cell manufacturing. Register to read