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Budget proposes GST amendment: Track and Trace Mechanism for evasion prone goods

Economictimes.indiatimes.com 

The Union Budget has introduced amendments to the GST law, incorporating a Track and Trace Mechanism for evasion-prone goods. This includes defining 'Unique Identification Marking,' such as digital stamps or marks. Penalties under new sections like 122B and 148A highlight a push towards digitisation and efficient supply chain monitoring.

Govt to focus on reducing debt-GDP ratio to about 50% by FY31

Economictimes.indiatimes.com 

The government is set to reduce the debt-GDP ratio to 50 per cent by March 2031 from the current 57.1 per cent, with Finance Minister Nirmala Sitharaman outlining a plan to lower the fiscal deficit to 4.4 per cent of GDP by FY26. This new roadmap aims for sustainable and transparent debt management.