The Goods and Services Tax (GST) Council, in its 46th meeting, decided to defer the proposed hike in tax rate for the textiles sector to 12 per cent from 5 per cent, which was to be implemented from January 1.
Ratings and research firm Icra has estimated that India's economy will grow at 9% in FY22 and FY23 amid the uncertainty triggered by the Omicron variant of Covid-19.
EXAMIANS