The week in charts: GST revamp, Oil Plan B, Wegovy launch, India tops again

Mint

7 hours ago

A revamp of the goods and services tax (GST) regime is on the cards, with the compensation cess likely to be merged into the main GST rates. Separately, India has activated a Plan B to secure oil supplies amid continued tensions in West Asia. Despite global headwinds, India retained its top spot among emerging market peers in May.
GST revamp
The finance ministry may merge the compensation cess on sin and luxury goods into the goods and services tax (GST) rates, Mint reported. The decision won't impact consumers as overall tax outgo would remain unchanged.
Compensation cess, which makes up about 7% of the total collections, was levied on top of the GST rate to compensate states for potential revenue loss due to the transition to GST regime. This arrangement is set to expire in March 2026.
The shift may become a part of recommendations on the tax-sharing formula for five years starting FY27 by the Sixteenth Finance Commission.
Hefty bounty
Indian companies doled out a record dividend of ₹4.9 trillion in FY25, despite the lacklustre earnings. Promoters, led by those in private firms, pocketed 51.5% of total dividends declared. A Mint analysis of 370 consistent dividend-payers from the BSE 500 shows that promoters with over 70% stake saw their dividend receipts surge by 45%. Those holding 50-70% and below 50% experienced more modest increases of 8.5% and 8.9% respectively.
This trend indicates that higher promoter holdings, in some instances, led to increased dividend payouts.
VIP deal
26%: Is the stake domestic private equity (PE) firms such as Multiples Alternatives and 360 One are eyeing in luggage maker VIP Industries, Mint reported. The stake sale could also trigger an open offer. The promoters currently own a little more than 50% of VIP Industries, shows stock exchange data. The sale is part of the promoters' ongoing efforts to exit the business.
Last November, the company's talks with PE firm Advent International to sell a controlling stake fell through due to valuation mismatches.
Oil Plan B
India has devised an emergency plan to secure oil supplies amid the uncertainties in West Asia, Mint reported. It involves bypassing the Strait of Hormuz via two pipelines: Abu Dhabi National Oil Co's Habshan-Fujairah that opens to the Gulf of Oman, and Saudi Aramco's East-West to the Red Sea. India could also boost imports from the US.
The recent conflict between Israel and Iran, with threats of closure of Strait of Hormuz had exposed India's vulnerability as the country imports over 40% of its oil from West Asian countries.
India tops
India, with a score of 67 out of 100, retained top spot among emerging economies in May, showed Mint's emerging markets tracker. However, the win came with a narrow lead. Thailand came a close second with a score of 66.6 due to best export performance.
While India's score was driven by India's fastest GDP growth among peers, robust manufacturing activity, and sustained stock market gains, the lead narrowed due to deteriorated export growth and currency fluctuations. In April, India had scored 87.9.
Slim deal
₹17,345: That is the starting price in India for Novo Nordisk's weight-loss drug Wegovy, launched earlier this week. The drug is administered as a once-a-week injectable pen and is prescribed for chronic weight management and reducing major adverse cardiovascular events. Available in five dosing strengths—0.25 mg, 0.5 mg, 1 mg, 1.7 mg and 2.4 mg—Wegovy is expected in pharmacies by end of the month.
The launch follows rival Eli Lilly's introduction of Mounjaro in March 2025, intensifying competition in India's obesity treatment market.
Bumper bonus
Indian investment banks awarded record bonuses to their top brass this year as they earned substantial fees in FY25, Mint reported. It was fuelled by a surge in deals and initial public offering activity, and hefty fees earned by investment banks from them. Firms like Kotak Mahindra Capital, Axis Capital, Avendus Capital, and JM Financial reportedly distributed over $1 million bonuses to top executives.
Indian investment banks earned over $1.35 billion in fee income in FY25, highest in the post-pandemic period, showed data from London Stock Exchange Group.
Chart of the week: Space take-off
Shubhanshu Shukla made history by becoming the first Indian astronaut to travel to the International Space Station (ISS). A look at data shows that ISIS visits are dominated by individuals representing the US (169), which is also home to Nasa. This is followed by Russia (63), Japan (11), and Canada (9).
Follow our data stories on the'In Charts" and'Plain Facts" pages on the Mint website.