GST Council addresses disaster levy, clarifies tax exemptions, and revises ITC norms, while deferring insurance premium GST cut and key rate rationalisation decisions

GST council meeting

After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Foreign Portfolio Investors (FPIs) began the week on a positive note, investing Rs 3,126 crore in equities during the first two trading sessions (December 16-20).
However, the trend reversed in the latter half of the week, with FPIs offloading equities worth over Rs 4,102 crore in the subsequent three sessions. This resulted in an overall net outflow of Rs 976 crore during the week, data from National Securities Depository Limited showed.
Despite this short-term reversal, the broader December trend remains positive. FPIs have infused Rs 21,789 crore into Indian equities so far this month, reflecting continued confidence in India's economic growth potential and its resilient markets.
FPIs adopted a cautious approach due to the US Fed meeting and uncertainty about 

Foreign portfolio investor exodus: Financial sector bears the brunt, FPI

Bihar's Deputy Chief Minister Samrat Chaudhary said another meeting of the GoM is scheduled for January before the proposal is reintroduced to the GST Council

Zomato share price: Thus far in the calendar year 2024, Zomato share price has more-than-doubled investors' wealth as they have zoomed 135 per cent

Photo: Shutterstock

The parents of the doctor who was raped and murdered at the RG Kar hospital moved the Calcutta High Court on Thursday, seeking a fresh investigation into the crime.
Expressing a lack of confidence in the ongoing probe into the incident that led to huge protests, they prayed for a direction for a fresh investigation into the rape and murder of their daughter.
Justice Tirthankar Ghosh asked their lawyer to add the CBI, which is probing the case, as a party in the petition and mention the matter again before the court on Monday.
The on-duty postgraduate trainee doctor's body was found in the seminar room of the RG Kar Medical College and Hospital on August 9.
The Sealdah court on December 13 granted bail to RG Kar Medical College and Hospital ex-principal Sandip Ghosh and Tala police station's officer-in-charge Abhijit Mondal in the case.
They were granted bail as the CBI failed to file charge sheets against them within the 90-day statutory period, according to their lawyers.
While 

Police at RG Kar Hospital in Kolkata on Tuesday amid resident doctors’ protest.  The effects of the strike were felt in prominent hospitals	| Photo: PTI

Police at RG Kar Hospital in Kolkata on Tuesday amid resident doctors' protest.  The effects of the strike were felt in prominent hospitals	| Photo: PTI

The Centre is actively engaging with states that have yet to achieve 100 per cent tap water connection coverage for rural households, Jal Shakti Minister C R Paatil said on Thursday.
Speaking at a press conference here, the minister acknowledged that the 2024 deadline for ensuring tap water access in rural India has passed.
"There are still four crore households without tap water connections. The ministry is in discussions with the respective states and has urged them to expedite the process," he said.
Official data reveals that 79 per cent (15,37,22,950) of rural households have been provided with tap water connections so far. Over 19 crore rural households have been identified for coverage.
Among the states, West Bengal has the lowest coverage at 53.9 per cent, followed by Kerala at 54.13 per cent, Jharkhand at 54.62 per cent and Rajasthan at 54.95 per cent, according to the data.
Eleven states and Union territories have achieved 100 per cent coverage of tap water connections un

water tap water connection jal jeevan

The Banning of Unregulated Lending Activities Bill calls for the CBI to handle probes in cases spanning multiple states or UTs

The Centre, in collaboration with states, has proposed to classify unregulated lending as a cognizable and non-bailable offence, with penalties including imprisonment of up to 10 years. The finance ministry has invited feedback by February 13 from st

The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

Nirmala Sitharaman, Nirmala

The Opposition Congress has doubled down on its demand for Home Minister Amit Shah's resignation, citing his comments on B R Ambedkar

Rahul Gandhi, Rahul, Congress leader, Priyanka Gandhi, Priyanka

: NCP (SP) president Sharad Pawar on Sunday had a telephonic conversation with Maharashtra Chief Minister Devendra Fadnavis about the murder of a sarpanch in Beed and the death of a man following violence in Parbhani.
Pawar on Saturday visited the families of Santosh Deshmukh, the slain sarpanch, and Somnath Suryawanshi, who allegedly died in judicial custody after his arrest in connection with the violence in Parbhani.
The NCP (SP) chief attended the Bhimthadi Jatra at the College of Agriculture in the city on Sunday.
While at the event, he called the chief minister, urging him to take note of the Beed and Parbhani cases.
Fadnavis on Friday announced judicial probes into the Parbhani violence and the sarpanch's murder and financial assistance of Rs 10 lakh each to the kin of Deshmukh and Suryawanshi.
Talking to reporters here, Pawar said, "I had a word with the chief minister about the places I visited yesterday. I told him that the situation was serious and asked him to take not

Sharad Pawar, Sharad,  NCP President

Days after Zakir Hussain was laid to rest at a San Francisco cemetery, the family of the tabla maestro shared a moving post on his official Instagram account on Sunday.
It marks the first post on the social media page of Hussain since his death at a San Francisco hospital early last week due to complications arising from idiopathic pulmonary fibrosis, a lung disease. He was 73.
The undated black-and-white picture shows the hands of Hussain, his wife Antonia Minnecola, daughters Anisa Qureshi and Isabella Qureshi held tightly together.
"Always together in love," read the caption of the post, tagging the four members of Hussain's kin.
One of the world's most accomplished percussionists, Hussain was laid to rest at the Fernwood cemetery in San Francisco on Thursday.
Hundreds of his admirers gathered at his funeral to pay their last respects. Sivamani and several other musicians played drums a little distance away to pay him a tribute.
The celebrated musician, one of India's most ...

Zakir Hussain, Zakir

While speaking at the "Hala Modi" community event at Kuwait's Sheikh Saad Al-Abdullah Indoor Sports Complex, PM Modi highlighted India's rapid transformation in various fields, including technology

Digvijaya Singh, Digvijaya

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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Sharad Pawar urges Maharashtra CM to address Beed, Parbhani cases

Zakir Hussain's family shares first Instagram post after his death

Digvijaya Singh slams PM Modi for spreading hatred, criticises speech

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55th GST Council takes key decisions, defers rate cuts on insurance premium

FPIs pull out Rs 976 crore from Indian equities amid rising dollar

GST Council defers decision to reduce tax on health, life insurance

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