Textile manufacturers, merchants and traders have opposed the goods and services tax (GST) hike on textile from 5 percent to 12 percent, which comes into effect from January 1, 2022.

From costlier ATM transactions to shelling out more for food delivery, the New Year will bring a slew of changes to our lives.

In a major reform of the international tax system, on October 8 this year, 136 countries, including India, have agreed to an overhaul of global tax norms to ensure that multinationals pay taxes wherever they operate and at a minimum 15 per cent rate.

Edible oils, hot beverages, salty snacks and confectionary saw value growth on account on rising prices, while volume growth was driven by packaged rice, breakfast cereals, butter-margarines, and chocolates. Many FMCG majors have already hiked prices, while electronic goods, especially entry and mid-level smartphones, are likely to become more expensive in the coming quarters.