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CII expects GDP to grow 6.4-6.7 pc in FY26, bats for 3-tiered GST structure

New Delhi, Jul 3 (PTI) India’s economy is expected to grow 6.4-6.7 per cent during the current financial year driven by strong domestic demand, even as geopolitical uncertainty poses downside risks, the newly appointed CII President Rajiv Memani said on Thursday. Addressing his first press conference after taking over as the CII President, Memani made a strong case for simple three-tiered GST rate structure, with essential items attracting 5 per cent, luxury and sin goods at 28 per cent, and the remaining items in the 12-18 per cent bracket. Currently, goods and services tax (GST) is a four-tier tax structure

Modi govt’s record on environment protection not reliable: Jairam Ramesh

New Delhi, Jul 3 (PTI) Congress general secretary (communications) Jairam Ramesh on Thursday alleged that the track record of the Modi government on concerns related to environment protection does not inspire confidence that they will be discussed and resolved. Ramesh, a former environment minister, said that several activists and societies working for environment protection have written to the prime minister seeking redressal of their issues. In a post on X, Ramesh said that 150 civil society groups and activists have made five major points, starting with Minister of Environment, Forests, and Climate Change Bhupender Yadav’s statement, allegedly holding the implementation

Rupee rises 31 paise to close at 85.31 against US dollar

New Delhi, Jul 3 (PTI) The rupee pared initial losses and jumped 31 paise to close at 85.31 (provisional) against the US dollar on Thursday, following a weak greenback against major crosses overseas and a decline in US treasury yields. Forex traders said the dollar declined on weaker-than-expected ADP Non-Farm Employment data from the US. A decline in global crude oil prices also supported the local unit, they added. At the interbank foreign exchange, the domestic unit opened at 85.69 against the American currency and touched an intra-day high of 85.19 and a low of 85.70 during the session. The

Stock markets decline on fag-end selling; financial stocks drag

Mumbai, Jul 3 (PTI) Benchmark stock indices Sensex and Nifty pared intra-day gains to close lower on Thursday due to last-hour selling in financial and metal shares. The 30-share BSE Sensex dropped by 170.22 points or 0.20 per cent to settle at 83,239.47. During the day, it jumped 440.4 points or 0.52 per cent to 83,850.09. The 50-share NSE Nifty declined by 48.10 points or 0.19 per cent to 25,405.30. Among the Sensex firms, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Adani Ports, Trent, State Bank of India, Titan and Tata Consultancy Services were the laggards. However, Maruti, Infosys, NTPC,

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