Exporters Request a GST Exemption for Freight

In light of the World Commerce Organization’s (WTO) prediction of a steep decrease in global trade in 2019, Indian exporters have urged the government to reinstate the 18per cent goods and services tax (GST) exemption on export freight and expand the rupee payment mechanism to more nations.

World Bank and IMF Fear Increased Risks of Global Recession

The chiefs of the International Monetary Fund and World Bank warned of an increasing possibility of a global recession as industrialised economies slow and greater inflation drives the Federal Reserve to keep raising interest rates, putting additional debt constraints on poor countries.