IBT Business Desk

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India's forex reserves surge by $ 3.51 billion to $694.23 billion

India's forex reserves surge by $ 3.51 billion to $694.23 billion

The gold component of the forex reserves increased by $1.77 billion to $86.77 billion at the end of the week. Central banks worldwide have accumulated substantial amounts of gold as a safe-haven asset in their foreign exchange reserves amid uncertainty created by geopolitical tensions. The share of gold maintained by the Reserve Bank of India (RBI) as part of its foreign exchange reserves has almost doubled since 2021. Sep 5, 2025
Stock market ends flat; auto shares surge as IT and FMCG decline

Stock market ends flat; auto shares surge as IT and FMCG decline

Sensex closed at 80,710.76, down 7.25 points or 0.01 per cent. The 30-share index started the session with a positive note at 81,012.42 against last session's closing of 80,718.01. The index, however, remained volatile amid buying in automobile stocks and selling pressure in the IT and FMCG shares. It hit an intra-day high and low at 81,036.56 and 80,321.19, respectively. Sep 5, 2025
sensex, nifty, india news,economic survey 2017, idea cellular share price, sensex live updates, top losers

Indian stock market opens higher, Nifty above 24,700

Nifty Bank was up 4.05 points or 0.01 per cent at 54,079.50 The Nifty Midcap 100 index was trading at 57,291.20 after adding 332.05 points or 0.58 per cent. Nifty Smallcap 100 index was at 17,704.70 after gaining 82.75 points or 0.47 per cent. Sep 5, 2025
Piyush Goyal urges India Inc. to pass on entire GST rate cut to consumers

Pass on entire GST rate cut to consumers: Piyush Goyal tells India Inc.

Piyush Goya expressed gratitude to the Prime Minister for this initiative, which he believes will create a win-win situation for both businesses and consumers. He urged the industry to ensure that every rupee saved through the GST reduction is passed on to consumers, emphasizing that under the new structure, GST on several categories has been reduced to as low as 5 percent. Sep 4, 2025
Over 150 products may see rate cut in GST Council meet this week

Bold step: Industry experts hail GST reforms in health sector

In a landmark move, the GST Council, chaired by Finance Minister Nirmala Sitharaman, on Wednesday rationalised the indirect tax structure, cutting the current four slabs down to two -- scrapping the 12 per cent and 28 per cent rates, while retaining the 5 per cent and 18 per cent slabs. Sep 4, 2025
Oppn slams Centre over GST reforms, says move will not benefit people

Oppn slams Centre over GST reforms, says move will not benefit people

Under the new structure, only two primary slabs will remain -- 5 per cent and 18 per cent -- along with a higher 40 per cent rate for sin goods. Officials said the revised structure will leave more disposable income in the hands of the common man, which the government expects will cycle back into the economy and spur growth. Sep 4, 2025
Number of Jan Dhan accounts crosses 55 crore, FM Sitharaman tells banks to reach out more

Explained: How GST rate rejig is going to boost businesses, empower common man

"Food preparations not elsewhere specified will attract a GST rate of 5 per cent. Bread was already exempt, while pizza bread, roti, porotta, paratha, etc., attracted different rates. All Indian breads, by whatever name called, have been exempted even though only a few goods have been mentioned by way of illustrative example," the ministry said. Sep 4, 2025
Gold, silver prices hit record high amid global uncertainties

Gold, silver prices hit record high amid global uncertainties

According to the India Bullion and Jewellers Association (IBJA), the evening rates showed that the price of 24-carat gold climbed to Rs 1,06,021 per 10 grams, up from Rs 1,04,424 on Tuesday. This marks a rise of Rs 1,597 in just 24 hours. Sep 3, 2025
Goods to turn cheaper as GST Council brings more consumer items under lower tax rates

What's expensive, what's cheaper as GST Council brings more consumer items under lower tax rates

The GST Council, comprising state Finance Ministers with Finance Minister Nirmala Sitharaman as the Chairperson, which met here on Wednesday, has also decided to finalise the rollout of a simplified GST regime with only two tax slabs of 5 and 18 per cent. However, the government has decided to keep the higher slab of 40 per cent on sin goods such as cigarettes, tobacco, sugary drinks and luxury goods that are bought by the high-income groups. Sep 3, 2025
Sensex, Nifty trade flat after mild early losses; realty stocks gain

Indian equity indices edge higher as GST Council meet begins

Nifty ended the session at 24,715.05, up 135.45 points or 0.55 per cent. The Indian equities closed higher after a mixed start to the session, buoyed by expectations of a consumption-led stimulus from the potential GST slab rationalisation, said analysts. Sep 3, 2025
Sensex, Nifty open with gains as potential rate cut in US boosts sentiment

Nifty, Sensex open flat as investors eye GST Council meet outcome

As of 9.29 am, the Sensex moved 32 points up, or 0.04 per cent to 80,190, while the Nifty 50 inched up 2 points, or 0.01 per cent to 24,582. The broadcap indices, Nifty Midcap 100 advanced by 0.278 per cent, and the Nifty Smallcap 100 inched up 0.36 per cent. Sep 3, 2025
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