Business
Govt Panel Reviews Foreign Banks’ Plans To Open Branches In India
NEW DELHI: The inter-departmental committee (IDC), chaired by Department of Financial Services (DFS) Secretary M Nagaraju, on Friday considered the proposals received from the Reserve Bank of India (RBI) for foreign banks seeking to open branches, representative offices or subsidiaries in India. According to the official press statement, the...
Insurance Players Upbeat On Growth Pick-Up In 2026
CHENNAI: Life and health insurers expect 2026 to mark a return to stronger growth, buoyed by the GST rate cut and the passage of the Insurance Amendment Bill. According to industry players, the two developments could address both demand- and supply-side constraints. “Over the last quarter, GST relief has...
CAG State Finances Report 2023–24: Revenue Capacity Continues To Vary Widely Among States
NEW DELHI: States’ Own Tax Revenue (SOTR) continued to be the single largest source of income for Indian states in 2023–24, underscoring its growing importance for fiscal autonomy even as sharp inter-State disparities persist, according to the State Finances 2023–24 report of the Comptroller and Auditor General of India...
Gross GST Revenue Back In Positive Zone In December
NEW DELHI: The gross goods and services tax (GST) collections, including cess, came in at Rs 1.79 lakh crore in December 2025 (November transactions), recording a year-on-year growth of 1.3%, reflecting a gradual normalisation of GST revenues after taxes were cut on about 375 items on September 22. The...
Banks May Soon Sponsor Pension Funds As PFRDA Approves Major NPS Reforms
NEW DELHI: The Pension Fund Regulatory and Development Authority (PFRDA) has in principle approved a new framework aimed at strengthening the pension ecosystem, allowing Scheduled Commercial Banks (SCBs) to independently sponsor funds for managing National Pension System (NPS) assets. The proposed framework seeks to remove regulatory constraints that had...
Fiscal Deficit Widens 15.4% Y-O-Y To ₹9.77 Lakh Crore In April-November FY26: UBI Report
NEW DELHI: India’s fiscal position during the April-November period of FY26 indicates that concerns over lagging tax revenues and adherence to the full-year budget targets have resurfaced, even as the government continues to prioritise capital expenditure-led growth, as per a report by Union Bank of India. The report stated...
Government Plans Next Phase Of Skilling Reforms With Outcome-Based Approach
NEW DELHI: Union Minister Jayant Chaudhary on Thursday chaired the concluding session of the week-long Kaushal Manthan, where deliberations were held on reforms like outcome-based grading mechanisms for ITIs to drive quality improvement and strengthening of Sector Skill Councils. Chaudhary, the Minister of State (Independent Charge) for Skill Development...
Govt Rolls Out Rs 4,531 Crore Market Access Support For Exporters
NEW DELHI: The government on Wednesday launched Rs 4,531 crore market access support for exporters under which financial support will be provided to participate in activities such as international fairs and exhibitions. It will help exporters at a time when they are facing a steep 50 per cent tariff...
External Uncertainties May Trigger Outflows, Forex Rate Volatility: RBI
MUMBAI: The Reserve Bank of India (RBI) has cautioned that the country’s economy faces near-term risks largely from external uncertainties, including the possibility of a sharp correction in US equities that could trigger foreign portfolio outflows, heighten exchange rate volatility and tighten domestic financial conditions. In its Financial Stability...
Centre Imposes Steel Safeguard Duty For 3 Years; Up To 12% On Imports
NEW DELHI: The Centre has imposed a safeguard duty of up to 12 per cent on import of some steel products for three years, aiming to shield domestic producers from low-priced steel products from China and some other countries. The Central government had in April this year imposed a...
India’s Household Debt Rises To 41.3% Of GDP, Above Five-Year Average: RBI
MUMBAI: India’s household debt climbed to 41.3 per cent of gross domestic product (GDP) at the end of March 2025, marking a sustained rise from its five-year average of 38.3 per cent, with consumption-related loans accounting for bulk of the borrowings, the Reserve Bank of India (RBI) said in...
Centre’s Fiscal Deficit Widens To 62.3% Of FY26BE In April-November
NEW DELHI: The Centre’s fiscal deficit widened to 62.3% of the annual target during April-November period, compared to 52.5% of the respective target a year ago, due to a surge in capital expenditure growth while the net tax revenues continued to contract. The fiscal deficit in April-November of FY26...
Year Of Contradictions For The Indian Economy
NEW DELHI: Outgoing 2025 was a year of contradictions for the economy, marked by both resilience and strands of fragility. Even as GDP growth kept “surprising” on the upside quarter after quarter, equity and currency markets failed to mirror this optimism. Benchmark indices—the Sensex and the Nifty—clocked single-digit returns,...
India Inflation Likely To Remain Low In 2026, New CPI Series On Anvil
NEW DELHI: India is preparing to rejig methodology for computing CPI and revamp monetary policy mandate for targeting retail inflation in 2026 after a year of benign price situation due to subdued food cost and GST reduction. Consumer Price Index (CPI) based retail inflation remained in the Reserve Bank’s...
Corporate Lending To Rebound As Loan-Bond Rate Gap Narrows, RBI Eases Norms
MUMBAI: Bank lending to companies is expected to go up in the coming quarters because the difference in interest rates between corporate bonds and bank loans has narrowed. In addition, recent policy reforms by the Reserve Bank of India (RBI), including allowing domestic banks to do acquisition financing, are...
Bank Lending To Joint Liability Groups Slump: RBI Data
MUMBAI: Bank lending to joint liability groups (JLGs) contracted sharply in 2024–25, with disbursements declining 58%, reflecting the stress faced by the microfinance sector over the past year, according to the Trend and Progress report released by the Reserve Bank of India on Monday. JLGs which are informal credit...
India Overtakes Japan To Become World’s Fourth-Largest Economy; Govt Says Will Take Over Germany Within 3 Years
NEW DELHI: The Government of India on Monday (December 29) announced via a press release that the country has now overtaken Japan to become the world’s fourth-largest economy. With a gross domestic product (GDP) valued at $4.18 trillion, India now ranks behind only the United States, China and Germany...
IIP At 2-Year High Of 6.7 Per Cent In November On Strong Mining, Manufacturing Performance
NEW DELHI: India’s industrial output attained its highest level in financial year 2025-26 (FY26) so far in November, rising 6.7 per cent year-on-year, the fastest in 25 months, fuelled by a spike in manufacturing and a sharp pick-up in consumer goods, even as electricity generation shrank for the second...
