GST 2.0 Cleared, Rupee Hits Record Low, UPI Crosses 20B: Weekly Finance Wrap

In this blog, I’ll be covering all the key developments that shaped India’s economy, markets, and corporate world over the past week. From big policy decisions like the GST revamp and RBI’s liquidity push, to market-moving events such as the rupee touching record lows and gold hitting new highs, this week has been eventful. We also saw a strong GDP print, UPI scaling fresh milestones, and a busy IPO calendar. Let’s take a look at the major developments that defined the week gone by.

GST 2.0 Cleared

The GST Council approved a new two-slab system, 5% and 18%, along with a 40% rate for luxury and sin goods. Importantly, life and health insurance premiums will now be GST-free.

• Rollout: 22 September 2025
• Impact: Positive for consumers and demand-sensitive sectors; luxury and premium goods may face pressure.

Read full blog sector impact in this blog by clicking here 

Q1 GDP Surprise

India’s Q1 FY26 GDP came in at 7.8%, the fastest growth in five quarters, beating most forecasts.

Markets & Money

• Rupee Hits Record Low: The rupee touched ₹88.36/$ on Friday before recovering slightly, with likely RBI intervention helping limit losses.
• Gold at New Highs: Domestic gold prices approached ₹1.09 lakh per 10g as global bullion hit record levels.
• Oil Relief: Brent crude hovered in the mid-$60s, easing pressure on India’s import bill.
• Market Holiday Shift: RBI shifted the Maharashtra holiday from 5 Sep, 8 Sep. That means G-secs, forex, and money markets will remain shut on Monday. Equity markets operated as usual on 5 Sep.

Digital & Payments

UPI Milestone: August saw 20.01 billion transactions, the first time UPI crossed the 20B mark in a single month with transaction value of ₹24.85 lakh crore

Corporate & IPOs

Reliance AGM

Mukesh Ambani confirmed a Jio IPO by H1 2026, while also highlighting AI, energy, and retail expansion plans. Read a detailed blog here by clicking here.

IPO Buzz

• Amanta Healthcare: Mainboard IPO ran from 1–3 Sep
• SMEs:
  • Goel Construction (allotment due next week)
  • Vashishtha Luxury Fashion (5–10 Sep)
  • Abril Paper Tech listed at a discount
• Pipeline: Urban Company IPO opens 10 Sep; SEBI cleared 13 IPOs, including Urban Company and boAt

What to Watch Next

• 8 Sep (Mon): Markets shut for Maharashtra holiday (RBI circular)
• 12 Sep (Thu): India’s August CPI print
• US Jobs Report (Fri night IST): Global cue that may impact INR and equities
• 22 Sep: GST 2.0 rollout

Quick Takeaway

This week brought good news on growth, a big tax reset, and a historic UPI milestone. But the record-low rupee and soaring gold show investors are still cautious. Keep an eye on global cues (US jobs, Fed signals) as India enters a crucial festive demand phase. 

Disclaimer

Investments in the securities market are subject to market risks, read all the related documents carefully before investing. The securities are quoted as an example and not as a recommendation.This is nowhere to be considered as an advice, recommendation or solicitation of offer to buy or sell or subscribe for securities. INDStocks SIP / Mini Save is a SIP feature that enables Customer(s) to save a fixed amount on a daily basis to invest in Indian Stock. INDstocks Private Limited (formerly known as INDmoney Private Limited) 616, Level 6, Suncity Success Tower, Sector 65, Gurugram, 122005, SEBI Stock Broking Registration No: INZ000305337, Trading and Clearing Member of NSE (90267, M70042) and BSE, BSE StarMF (6779), SEBI Depository Participant Reg. No. IN-DP-690-2022, Depository Participant ID: CDSL 12095500, Research Analyst Registration No. INH000018948 BSE RA Enlistment No. 6428. Refer https://indstocks.com/pricing?type=indian-stocks; https://www.indstocks.com/page/indian-stocks-sip-terms-and-condition for further details.