Top Headlines: Economists see RBI rate hike, pruning GST exemption & more

A group of ministers may propose pruning GST exemptions on certain goods and services and correcting the inverted duty structure. Read more on this in our top headlines

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BS Web Team New Delhi
3 min read Last Updated : Jun 06 2022 | 7:15 AM IST
A Business Standard poll shows that majority of economists expect that the RBI's monetary policy committee will raise policy rate by 50 bps this week. A group of ministers may propose pruning GST exemptions on certain goods and services and correcting the inverted duty structure. Read more on these in our top headlines.

Most economists see 50-bp repo rate hike: Business Standard policy poll

A majority of the participants in a poll conducted by Business Standard expects the six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) to raise the policy rate, or the repo rate, by 50 bps to 4.9 per cent this week. Six of the 10 polled expect a hike of 50 basis points (bps) while the rest said it could be 35-40 bps. Read more

GoM may suggest pruning GST exemption list ahead of Council meeting

An empowered group of ministers (GoM) — set up to look into rate rationalisation — may propose pruning GST exemptions on certain goods and services and correcting the inverted duty structure during the next council meeting. The ministerial panel, which is likely to meet ahead of the Council meeting, may defer its rate rejig agenda until easing of inflationary pressure. Read more

Electric vehicles to drive auto capex up by Rs 70,630 crore in 5 years

Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the electric vehicle segment or stepping up their presence in it. Data shows India is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive. Read more

Fat pay cheque: Start-up founders and CEOs reap pre-IPO windfall

Not all startup stocks have done well since listing. Paytm shares are trading 71 per cent below their listing price. Zomato, though it made a strong stock market debut, fell sharply afterwards and is still to catch up with its listing price of Rs 76. However, the management leaders at One97 Communications, which owns Paytm, were rewarded with a 50 per cent rise in remuneration in the year of filing the RHP. Read more

India's market cap-to-GDP at 100% versus long-term average of 81%

India’s market capitalisation-to-gross domestic product (GDP) ratio has been volatile, reaching 56 per cent of 2019-20 GDP in March 2020, from 80 per cent in 2018-19 and then sharply bouncing back to 112 per cent in 2021-22. After recent correction, it is now at about 100 per cent of 2022-23 estimated GDP. This is above its long-term average of 81 per cent. Read more

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Topics :GST exemptionRBI repo rateRBI monetary policyIPOsStartupsElectric vehicles in IndiaGDPIndia’s market cap

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