Economy

Applicants under the machines and materials pillar can also receive production-linked incentives (PLI) benefits under the scheme for domestic sourcing of components and sub-assemblies that are produced in India.

A key concern is the additional 18% GST burden on the MDR for small merchants. The issue could be taken up by the GST Council for review, an official said.

The four-week moving average of new applications, a metric that helps smooth out volatility, fell to 203,250 — a five-week low.

Robusta prices have stabilised in the past one year, sliding down around 35% from their all-time highs, but remain 20% above their 20-year average.

New Delhi must proactively manage its trade vulnerabilities to ensure that its economic growth is not crippled by the crossfires of distant geopolitical conflicts.

Under the new UPI framework, capital-market transactions, including payments to stockbrokers and dealers, will attract an MDR of 0.02%, capped at Rs 300 per transaction from October 15.

Brent crude slipped below $105 a barrel as signs of easing supply disruptions in the Middle East reduced some of the risk premium. West Texas Intermediate crude also weakened, trading near $101 a barrel.

The outcome and Fed Chair Kevin Warsh's commentary could have significant implications for global bond yields, the US dollar, capital flows and emerging-market currencies and equities, including the Indian rupee and D-Street.

Govt cuts export duty on petrol, diesel and ATF, with revised rates effective from September 16, according to Finance Ministry notifications.

The benchmark lending rates have been raised by 25 basis points, which is in accordance with the market's expectation.

The government is also examining a framework to provide exporters with greater certainty over the scheme's continuation and refund rates.

The government expects UPI transaction volumes to continue increasing next year despite the introduction of the new fee framework, according to the sources.