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GST Council plans to unveil substantial reforms aimed at improving business processes and facilitating growth. The proposed changes involve streamlined registration, easier refunds, and a more efficient input tax credit system. Decriminalisation measures are also proposed to alleviate issues for businesses with minor offenses. A focus is on reducing discretionary practices and using technology to minimize litigation. These reforms seek to enhance operational efficiency for both small and large enterprises.
India is expected to achieve close to 8% economic growth, aided by recent reforms and increased investment. The resilience of the economy is attributed to strategies implemented over the past decade and strong domestic demand. Former RBI governor Shaktikanta Das emphasized the significance of the financial sector and external management in supporting growth. Further opportunities are anticipated in the coming years, particularly in AI and infrastructure financing.
Oil prices saw a modest decline as fresh shipments from the Middle East hit the market. The G7's move to tap into emergency reserves reflects growing energy apprehensions. Nevertheless, the crude oil market stays turbulent, as conflicts in the Gulf region persist. Notably, Yemen's Saudi-backed government has initiated a military operation against the Houthis, further complicating the situation. This evolving landscape continues to impact global energy supplies and market pricing.
Stock market recommendations: LG Electronics, and Arvind - Motilal Oswal Wealth Management Research Desk has picked these as the top stocks to buy for the week starting October 5, 2026.
Japan's Nikkei index experienced a remarkable rise of over 2% on Monday, breaking the 70,000 mark for the first time in three months. The surge was largely driven by chip manufacturers like Tokyo Electron and Advantest, while Kioxia's contribution fell short. The optimistic trend in Japanese stocks was fueled by Wall Street's strong performance, stemming from weaker US jobs data alleviating rate hike anxieties.