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Steel Authority of India Ltd (SAIL) is taking proactive measures to expand its vendor base and diversify its coal supply by exploring new coal-producing countries, including Russia and Mozambique. The company has expressed concerns over the impact of rising Chinese steel exports and the implementation of the Carbon Border Adjustment Mechanism (CBAM) in Europe, which could affect domestic steel prices. SAIL's capital expenditure commitment for FY26 is set at ₹7,500 crore, focusing on decarbonisation, although lease expiries on captive mines pose risks to raw material security and project timelines. The company reported a turnover of ₹1,01,716 crore for FY25, a slight decline from the previous year, with a net profit of ₹2,148 crore. SAIL's reliance on imports for coking coal is significant, with only 2.4 million tonnes sourced domestically out of an 18.74 million tonne requirement for FY25. 
Published: Sep 01 2025, 7 pmeznews.inIndia's unmanned aerial vehicle (UAV) industry is set for a significant transformation following the government's decision to rationalise Goods and Services Tax (GST) rates on commercial drones. Announced during the 56th GST Council meeting, the new "Simple Tax" regime introduces a uniform 5% GST for commercial drones, alongside exemptions for defence-related drones and essential components. This reform addresses previous inconsistencies in the tax structure, which saw rates ranging from 5% to 28%, creating compliance challenges for manufacturers and consumers. Smit Shah, President of the Drone Federation of India, hailed the move as a landmark reform that will lower acquisition costs and promote wider adoption across sectors like agriculture and logistics. With over 600 drone start-ups in India having raised more than $500 million, the streamlined GST framework is expected to enhance investment and position India as a global hub for drone innovation. The revised rates will take effect on September 22, 2025.
Published: Sep 04 2025, 3 pmeznews.inThe Indian Premier League (IPL) is set to become more expensive for fans as the government raises the Goods and Services Tax (GST) on ticket prices from 28% to 40%. This decision has sparked outrage among fans, with experts warning that franchises will bear the brunt of the increased costs. The new GST rate, applicable to select goods and services including sporting events, could lead to reduced stadium attendance and lower match-day revenues, impacting earnings from ticket sales and merchandise. Major franchises like Chennai Super Kings and Mumbai Indians have already reported significant profit declines. While some analysts believe the impact on franchises may be manageable due to their diverse revenue streams, others caution that the hike could deter casual fans from attending matches, pushing them towards more affordable viewing options like OTT platforms. The Board of Control for Cricket in India (BCCI) is currently reviewing the implications of this tax change.
Published: Sep 04 2025, 3 pmeznews.inThe Indian government has launched a subsidised sale of onions at ₹24 per kg in Delhi, Mumbai, and Ahmedabad to ensure affordability for consumers. Union Food Minister Pralhad Joshi announced that 25 tonnes from the buffer stock will be distributed through cooperative agencies, including Nafed and NCCF, particularly in areas where retail prices exceed ₹30 per kg. This initiative will expand to Chennai, Guwahati, and Kolkata starting Friday and will continue until December. The average retail price of onions across India was ₹28 per kg, with some cities reporting higher rates. The government holds a buffer stock of 3 lakh tonnes, procured at ₹15 per kg, as part of its Price Stabilisation Fund scheme aimed at controlling food inflation, which has recently dropped to 1.55%, the lowest in nearly eight years. The ministry is also employing technology to enhance the efficiency of onion procurement and distribution.
Published: Sep 04 2025, 3 pmeznews.inIn a significant move to reduce healthcare costs, the Indian government has announced a reduction in the Goods and Services Tax (GST) on all medicines to 5%, while consumables such as glucometers and thermometers will also see a similar decrease. Notably, GST has been completely exempted for a list of 36 cancer and rare disease drugs. This change is expected to lower medical bills by approximately 6-7%, according to Sushil Suri, Chairman of Morepen Labs. However, he cautioned that the impact on prices may take time due to existing inventory. Tax expert Saurabh Agarwal described the decision as pragmatic, while Ameera Shah, President of Nathealth, noted that the benefits would be more pronounced for consumer-facing products. Nonetheless, she tempered expectations for diagnostics, as over 70% of costs remain subject to the higher GST rate. Industry leaders suggest that companies may leverage the GST cuts to enhance consumer offerings.
Published: Sep 04 2025, 2 pmeznews.inThe recent increase in Goods and Services Tax (GST) from 12% to 18% on oil and gas exploration, development, and production is set to further strain upstream companies already grappling with declining crude oil prices, according to ratings agency ICRA. Senior VP Prashant Vasisht highlighted that this tax hike will elevate production costs without providing offsets for sales, leading to stranded taxes. The volatility in global markets and OPEC+'s decision to reverse production cuts have already dampened earnings for firms like ONGC and Oil India. Energy Analyst Dhaval Popat warned that the higher GST will hinder the competitiveness of exploration and production projects, particularly coal-bed methane initiatives, complicating efforts to boost domestic output and reduce import reliance. The new tax regime also applies to various petroleum operations under specific contracts and offshore works, further complicating the landscape for the industry.
Published: Sep 04 2025, 2 pmeznews.inThe GST Council's recent decision to lower tax rates on inputs and equipment for aquaculture farms is expected to significantly benefit India's seafood sector, which has faced challenges due to a 50% tariff imposed by the US on Indian imports. The Seafood Exporters Association of India (SEAI) highlighted that the reduction in duties on farm inputs, fish feeds, fish oils, and processed fish will not only decrease production costs but also lower market prices, thereby encouraging higher consumption. K.N. Raghavan, Secretary General of SEAI, emphasized that the tax cuts on services related to seafood processing will further reduce production costs, benefiting the entire industry. Additionally, the council's focus on environmental protection and sustainable practices through duty incentives for eco-friendly ponds has been welcomed as a positive step for the sector. This comprehensive approach aims to bolster India's seafood exports amid challenging international trade conditions.
Published: Sep 04 2025, 2 pmeznews.inIn a significant move to enhance healthcare affordability, the Indian government has announced a reduction in the Goods and Services Tax (GST) on medicines from 12% to 5%, alongside exempting 36 lifesaving drugs and lowering GST on medical equipment and job work to 5%. Experts, including Priyanka Chigurupati of Granules India, have hailed this restructuring as a vital step towards balancing patient affordability with industry competitiveness. Suresh Nair, a tax partner at EY India, emphasized that this transformative change will significantly lower patient expenses and improve access to essential therapies, particularly for critical conditions like cancer and rare diseases. The reduction in GST on medical equipment and job work services is expected to further bolster the pharmaceutical ecosystem, enabling contract developers to scale operations more effectively. This initiative is seen as a pivotal advancement in making healthcare more accessible and affordable for all.
Published: Sep 04 2025, 12 pmeznews.inThe installation of smart meters under India's ₹3.03 lakh crore Revamped Distribution Sector Scheme (RDSS) is advancing without sufficient regulatory oversight, raising concerns about cost management and consumer impact, according to Prayas (Energy Group). The RDSS aims to reduce Aggregate Technical and Commercial (AT&C) losses to 12-15% by FY28, with smart meters playing a crucial role in this digital transition. However, Prayas highlights the need for transparent reporting and a robust regulatory framework to monitor costs and benefits, as current reliance on data submitted by Distribution Companies (Discoms) may lack consistency. The commentary warns that without stringent oversight, the financial burden of smart metering could be unfairly passed on to consumers through tariffs, complicating cost recovery and obscuring the benefits of the initiative. Prayas calls for clear benchmarks and accountability measures to ensure that the transition to smart metering is both effective and equitable for electricity consumers.
Published: Sep 04 2025, 12 pmeznews.inIndia's rooftop solar capacity surged to 1.6 GW in the second quarter of 2025, marking a 33% increase from the previous quarter and a remarkable 121% year-on-year rise, according to Mercom India. The residential sector dominated this growth, contributing nearly two-thirds of the installations, driven by the PM Surya Ghar: Muft Bijli Yojna and a favorable policy environment. In the first half of 2025, total rooftop solar capacity reached 2.8 GW, a 158% increase compared to the same period in 2024, bringing cumulative installations to 16.5 GW. Gujarat, Maharashtra, Uttar Pradesh, Kerala, and Rajasthan led the charge, accounting for 64% of new installations. However, challenges such as module shortages and regulatory issues could hinder future growth. Mercom's CEO emphasized the need for policy clarity and reliable supply to maintain momentum in this burgeoning market.
Published: Sep 04 2025, 12 pmeznews.inExperts predict a significant increase in dairy product consumption in India following a recent reduction in Goods and Services Tax (GST). The government has cut GST rates on various dairy items, including ice cream, paneer, and ghee, with reductions ranging from 5% to zero, making these products 5-10% cheaper for consumers. Jayen Mehta, managing director of Gujarat Cooperative Milk Marketing Federation (GCMMF), noted that lower prices will likely boost demand, while also discouraging adulteration and tax evasion. The Indian Ice-cream Manufacturers’ Association anticipates a 10% price cut on ice creams due to the reduced GST from 18% to 5%. With the per capita consumption of dairy products still low in India, this tax cut is expected to enhance market penetration and sales, with GCMMF projecting higher double-digit growth this year. Mother Dairy's managing director also highlighted the potential for increased demand for packaged dairy products, benefiting both consumers and farmers.
Published: Sep 04 2025, 11 am
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