Business
India To Become 3rd-Largest Economy With GDP of $7.3 trn By 2030: Centre
New Delhi: From being the world’s fourth-largest economy, India is on track to become the third-largest by 2030 with a $7.3 trillion GDP, the Union Government said on Saturday.
“India is projected to reach a GDP of Rs 4,26,45,000 crore ($5 trillion) by 2027 and is on course to surpass Germany by 2028. By 2030, India is set to become the world’s third-largest economy with a projected GDP of $7.3 trillion,” the government said.
This comes as India’s GDP growth accelerated to a robust 7.8 per cent in the first quarter (April-June) of the current financial year compared to the growth of 6.5 per cent during the same quarter of FY 2024-25, as per official figures released by the Ministry of Statistics.
“India’s strong services activity has helped GDP growth comfortably beat expectations for the second quarter in a row, rising to an impressive high of 7.8 per cent for April-June 2025. The swift growth in the first quarter of the current financial year further consolidates India’s position as the world’s fastest-growing major economy,” the government said.
The government attributed the momentum to “decisive governance, visionary reforms, and active global engagement”.
With easing inflation, higher employment, and buoyant consumer sentiment, private consumption is expected to further drive GDP growth in the coming months.
Further, the government explained that the sharp pick-up in growth in April-June 2025 has been catalysed by the services sector growth hitting a high of 9.3 per cent.
All components of the services sector, such as trade, hotels, transport, communication, and services related to broadcasting, financial, real estate, and professional services, and public administration, defence, and other services, have been on an upward trajectory.
The GVA growth, which is seen as a more meaningful measure of activity levels, registered a high of 7.6 per cent in April-June 2025. GVA is arrived at by subtracting net indirect taxes, indirect taxes after adjusting for subsidies — from the GDP.
“In our view, Q1 numbers reflect the basic resilience of our economy. On the supply side, we have seen an all-round growth. On the manufacturing, construction, and service side activity, as well as the fact that the agriculture side has shown robust growth. The rabi harvest, as well as kharif sowing, have been much in excess of the last quarter,” said Anuradha Thakur, Economic Affairs Secretary, Ministry of Finance
“We have a good buffer stock. We have had a good rainfall…On the demand side, the primary drivers have been domestic, and in our economy, net exports don’t contribute so much on the demand side,” she added.
Business
Modi Govts MASSIVE Festive Bonanza: GST Council Approves 2-Slabs Tax Structure; To Be Implemented From 22 September 2025
New Delhi: GST Council Meeting: The 56th meeting of the GST Council that kick off on Tuesday morning has announced the much anticipated big-bang reforms in GST tax structure.
The GST Council has accepted Group of Minister’s (GoM) proposal to retain two slabs — 5 percent and 18 percent.
Till date, As per Indian GST rules, a four-slab GST system was being followed — 5 percent, 12 percent, 18 percent, and 28 percent — along with an additional cess on sin and luxury goods.
Netflix on Wednesday announced a new update to its “Moments” feature, allowing viewers to choose a start and end point on clips to save and share.
The feature, which is only available on mobile devices, was first rolled out last year, for viewers to save scenes that they love and share them.
The new update coincides with the release of the second part of season 2 of the popular show “Wednesday.”
Netflix’s new update to the “Moments” feature is looking to capitalize on viral moments in shows such as “Wednesday.” The update includes a “clip” option on the screen to adjust the length of a segment. After it’s clipped, the video will save to viewers’ “My Netflix” tab for rewatching or sharing.
During the first season of the series — a spin on the classic TV show “The Addams Family” — a scene of the title character, Wednesday, dancing went viral and became one of the series’ most popular moments. “Wednesday” is the most popular Netflix show to date, with more than 252 million views, according to the company’s website.
The first part of the series debuted in August and has raked in tens of millions of views so far.
The new update comes as Netflix is revamping its brand, with a redesigned homepage and a vertical video feed on mobile that looks similar to TikTok.
The streaming giant has implemented a variety of strategic moves since its brief period of stagnation in 2022, from updating its features to business initiatives such as a cheaper ad-supported subscription plan and a password-sharing crackdown.
Netflix no longer releases subscription data, but the streamer reported it had more than 300 million paid memberships in January.
New Delhi: The All India LPG Distributors Federation has appealed Finance Minister Nirmala Sitharaman to reduce the Goods and Services Tax (GST) on LPG Suraksha Hoses (LPG pipes) from 18 per cent to 5 per cent. In the run up to the two-day GST Council meeting that started today, the Federation had written to the Union minister
In the letter, the Federation had stressed that the LPG Suraksha Hose is not a luxury product but a mandatory safety component essential for transporting gas safely from cylinders to stoves. “As LPG is already under essential commodities and distributed under subsidy schemes to millions of families, imposing such a high GST on a safety accessory is contradictory to the government’s vision of “Ujjwala se Suraksha”,” the letter read.
Since August 2015, every household using LPG is required to replace these hoses periodically as per Oil Marketing Companies (OMCs) and Petroleum and Explosives Safety Organization (PESO) guidelines. Currently, the 18 per cent GST rate makes these safety hoses costly for many families, especially economically weaker households, rural consumers, and beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY), they argued.
According to the Federation’s President Chandra Prakash, lowering the GST to 5 per cent would not reduce tax revenue instead, it could increase it, as more consumers would purchase authorized BIS-approved hoses rather than cheaper, unsafe alternatives from the open market.
“We assured you that total GST on Suraksha hose will also increase because now a days majority consumers purchasing substandard LPG pipe-Suraksha Hose from open unauthorized market hence loss of GST revenue. We assured yourself that LPG user will buy from oil companies authorized channels partners if GST reduces to 5 per cent instead of 18 per cent,” the letter read.
“This small fiscal step will have a large social impact by strengthening household safety and supporting the government’s vision of Har Ghar Surakshit LPG,” Prakash said in the letter. The two-day meeting, being held on September 3 and 4, is expected to bring significant changes to India’s indirect tax structure, with discussions centred around rationalising and reducing the number of GST slabs.
In the Independence Day speech from the ramparts of the Red Fort this year, Prime Minister Narendra Modi announced upcoming next-gen GST reforms before Diwali so as to benefit consumers, small industries and MSMEs.
What’s in store for the Commanders’ encore? Ask our reporters.
Modi Govts MASSIVE Festive Bonanza: GST Council Approves 2-Slabs Tax Structure; To Be Implemented From 22 September 2025
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