Author: Legal Parivar

Prime Minister Narendra Modi, in his Independence Day address on Friday, announced that the government is preparing to roll out “next-generation GST reforms” by Diwali 2025, aimed at lowering the tax burden on households and businesses. According to officials aware of the discussions, the reform plan proposes merging GST slabs into three tiers — 5%, 18%, and 40%. Everyday essentials such as groceries, medicines, televisions, washing machines, agricultural equipment, bicycles, and even education and insurance services are expected to become cheaper. As GST is a consumption-based tax, experts say the biggest winners will be consumers, with cheaper household essentials boosting…

India’s foreign exchange reserves recorded a sharp fall of $9.32 billion, standing at $688.871 billion for the week ending August 1, according to the latest data released by the Reserve Bank of India (RBI). Despite the decline, the forex reserves remain close to the all-time high of $704.89 billion, achieved in September 2024. At the recent monetary policy meeting, RBI Governor Sanjay Malhotra assured that the country’s forex stockpile was strong enough to cover 11 months of imports. Breaking down the reserves, foreign currency assets (FCA), the largest component, stood at $581.607 billion, while gold reserves dipped by $1.706 billion,…

The three-day bidding process for the Regaal Resources IPO closed on Thursday, witnessing strong investor demand. Attention has now shifted to the IPO allotment process, which is expected to take place today. In case of any delay, the allotment date has been scheduled for 18 August 2025. Applicants can check their Regaal Resources IPO allotment status online either on the BSE website (bseindia.com) or through the official registrar, MUFG Intime India Pvt Ltd. Regaal Resources IPO GMP Today In the grey market, shares of Regaal Resources continue to command a healthy premium, though slightly lower than earlier this week. As…

Prime Minister Narendra Modi will inaugurate two major national highway projects worth nearly ₹11,000 crore in Delhi’s Rohini area on Sunday, aimed at easing congestion and improving connectivity in the capital and adjoining regions. According to the Prime Minister’s Office, the projects — the Delhi section of the Dwarka Expressway and the Urban Extension Road-II (UER-II) — form part of a larger plan to decongest Delhi. The 10.1 km Delhi section of the Dwarka Expressway, developed at a cost of around ₹5,360 crore, will provide multi-modal connectivity to Yashobhoomi, DMRC’s Blue and Orange lines, the upcoming Bijwasan railway station, and…

Ukrainian President Volodymyr Zelenskyy announced on Saturday that he will meet US President Donald Trump in Washington on Monday, just days after Trump’s high-profile yet inconclusive summit with Russian President Vladimir Putin in Alaska. Zelenskyy said he had a “long, meaningful” phone call with Trump following the Alaska talks, which marked Putin’s first visit to Western soil since Russia’s 2022 invasion of Ukraine but failed to yield a breakthrough. While Trump described the discussions with Putin as showing “nascent progress,” he stressed, “there’s no deal until there’s a deal.” Putin, on the other hand, claimed an “understanding” had been reached…

New Delhi: Brightcom Group on Friday announced the creation of Brightcom Defence, a dedicated division focused on next-generation aerospace intelligence and autonomous aerial defence software. The move was approved by the company’s Board as part of its strategy to tap into the rapidly growing markets for aerospace intelligence and autonomous defence solutions. The newly formed division will focus on developing: Brightcom Defence plans to collaborate with governments, global defence innovators, and allied technology partners to deliver cutting-edge solutions. Suresh Kumar Reddy, Chairman of Brightcom Group, said: “Our strategic expansion into the defence sector and realignment of business divisions position us…

Mahindra, in partnership with Warner Bros. Discovery Global Consumer Products, has unveiled the BE 6 Batman Edition, a limited-edition electric SUV inspired by Christopher Nolan’s acclaimed The Dark Knight Trilogy. Priced at ₹27.79 lakh, the SUV is limited to just 300 units, making it a rare collector’s item. Bookings open on August 23, 2025, with deliveries starting on September 20, 2025, coinciding with International Batman Day. Optional 7.2 kW and 11.2 kW chargers are available for ₹50,000 and ₹75,000, respectively. Exterior Highlights: Interior Highlights: Comments from Executives:Pratap Bose, Mahindra’s Chief Design & Creative Officer, said: “With the Batman Edition, we…

Prime Minister Narendra Modi on Friday highlighted the rapid growth of India’s Unified Payments Interface (UPI), announcing that it now accounts for 50% of all real-time transactions worldwide. Speaking from the Red Fort on the 79th Independence Day, he said, “Our UPI platform is seen as a marvel by the world today… we have the capability to become self-reliant.” Since its launch in 2016, UPI has seen explosive growth in both volume and value. In FY25, the platform recorded 18,587 crore transactions worth ₹261 lakh crore, while in July 2025 alone, it processed 1,947 crore transactions. UPI is operational in…

The Finance Ministry on Friday proposed a simplified two-tier GST structure featuring a ‘standard’ and ‘merit’ slab, along with special rates for select goods. This overhaul would replace the current 5%, 12%, 18%, and 28% rates. The proposal has been sent to the Group of Ministers (GoM) and will be discussed at the upcoming GST Council meeting next month. The announcement follows Prime Minister Narendra Modi’s statement earlier in the day that the government will roll out “next-generation GST reforms” by Diwali, promising substantial tax relief for the common man and benefits for small and medium enterprises (SMEs). Key Focus…

Prime Minister Narendra Modi, addressing the nation from the Red Fort on the 79th Independence Day, announced the launch of the Pradhan Mantri Viksit Bharat Rojgar Yojana — a ₹1 lakh crore scheme aimed at creating employment opportunities for India’s youth. Under the scheme, first-time employees in the private sector will receive ₹15,000 from the government as an incentive. Companies generating new jobs will also get financial incentives, though the exact amount for employers has not yet been disclosed. The initiative is expected to benefit over 3.5 crore young people across the country. Who Can Apply? Benefits for Employees According…