Finance Ministry
Indian Staffing Industry Advocates for 5% GST to Boost Formal Employment
Sarfraz Khan
9 minutes read
The Indian Staffing Federation urges the Finance Ministry to cut GST on employment services from 18% to 5%. This move, ahead of the 56th GST Council meeting, aims to boost formal job creation, enhance industry competitiveness, and formalize the economy, with minimal fiscal impact on government revenue.
Paytm Shares Tumble 10% After Finance Ministry Rejects UPI MDR Reintroduction
3 minutes read
Paytm shares plunged 10% after the Finance Ministry dismissed speculation about reintroducing MDR on UPI transactions. Hopes for a new revenue stream were dashed, highlighting fintech's sensitivity to policy. Despite the setback, UPI continues its record growth, with the government committed to free services amidst sustainability questions.