Business
States’ Gross Fiscal Deficit Topped 3% In FY25 After 3 Years: RBI Report
MUMBAI: States’ consolidated gross fiscal deficit increased to 3.3 per cent of gross domestic product (GDP) in 2024-25, after remaining below 3 per cent during the previous three financial years, the Reserve Bank of India (RBI) said in a report titled ‘State Finances: A Study of Budgets of 2025-26’....
European Union Suspends GSP Export Benefits; To Impact India’s Shipments
NEW DELHI: The European Union (EU) has suspended export benefits to sectors such as textiles and plastics under a preferential scheme for India and two other countries from January 1, a move that will impact the country’s shipment to the 27-nation bloc. The development is important as the two...
All About New GDP Series That Could Alter Growth Data
NEW DELHI: National Statistical Office (NSO) released the advance estimates for 2025-26 indicating annual GDP growth of 7.4%, with a decadal growth of 5.9% (2015-2026). The growth is fairly robust growth given the need for structural changes, global uncertainties and pandemic. This would be the last GDP estimates of...
Railways’ Trucks-On-Trains To Ease Highway Congestion
NEW DELHI: Indian Railways has formally launched the ‘Trucks-on-Trains’ service, also called ToT, as part of its Dedicated Freight Corridor program, and widely known as DFC. It aims shift in the transportation industry, focusing entirely on speedy, eco-friendly, and efficient freight transport. The Indian Rail Ministry confirmed on Thursday...
Engineering Goods Exporters Seek Lower Tax, Faster GST Refunds For Manufacturing MSMEs In Budget 2026
NEW DELHI: The Engineering Export Promotion Council of India (EEPC India) has asked for a reduction in income tax for non-corporate manufacturing micro, small and medium enterprises (MSMEs) to 25% and quicker release of goods and services tax (GST) refunds, as part of its recommendations for the Union Budget...
Assets Of Gold-Loan NBFCs To Cross Rs 4 Trillion By End Of Next Fiscal: Report
MUMBAI: Soaring gold prices and regulatory streamlining will lead to the assets under management (AUM) of gold-loan focused non-banking financial companies having a compound annual growth rate of 40% between this fiscal and the next, helping them surpassing the Rs 4-trillion-mark by March 2027. The surge will be driven...
India Flags ‘Huge Mountain Of Debt’ In Developed Nations As Major Concern
NEW DELHI: The “huge mountain of debt” in developed economies and the risk of a possible unravelling is a matter of concern for India, Union Minister for Railways, Information & Broadcasting, Electronics & Information Technology Ashwini Vaishnaw said on Wednesday, pointing to the recent spike in Japanese bond yields....
Govt Unveils Draft National Electricity Policy 2026 With Focus On Tariffs, Discom Health
NEW DELHI: The government on Wednesday unveiled the draft National Electricity Policy, 2026, proposing strict norms for power tariff determination, a framework for sweeping structural reforms to improve the financial health of discoms, financing requirements, and suggestions on long-term generation and transmission planning, nearly two decades after it was...
India Set To Become Third Largest Economy By 2028, Says Gita Gopinath
DAVOS: Union Minister Ashwini Vaishnaw on Wednesday asserted that India will definitely become the world’s third-largest economy over the next few years, with economist Gita Gopinath saying it can happen by 2028 or even earlier. Speaking in a World Economic Forum Annual Meeting session here, Vaishnaw said the only...
Cabinet Clears ₹5,000 Crore Equity Infusion Into SIDBI To Boost MSME Credit
NEW DELHI: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved an equity support of ₹5,000 crore to the Small Industries Development Bank of India (SIDBI) to strengthen its capital base and enhance credit flow to micro, small and medium enterprises (MSMEs). The equity capital will...
RBI Sanguine On Demand Amid Capital Account Concerns
MUMBAI: The concerns over India’s financial account refuses to ebb away. Amid net portfolio outflows of $19 billion from Indian equities in 2025, the country continues to witness net outflows of foreign direct investment (FDI) as well. On a net basis, FDI inflows remained negative in November for the...
EU, India On Cusp Of Historic Trade Agreement: EU President
NEW DELHI: India and the European Union are on the cusp of a “historic trade agreement” that would create a market comprising two billion people accounting for almost a quarter of the global GDP, European Commission President Ursula von der Leyen said on Tuesday. President of the European Council,...
India’s December Core Sector Output Hit Highest Level So Far In FY26
NEW DELHI: India’s core sectors’ output surged to its highest level in 2025-26 (FY26) in December, even as year-on-year growth improved to a four month high of 3.7 per cent from an upgraded 2.1 per cent uptick in November. On a sequential basis, December’s core sector output was 8.2...
Corporates To Register 6% Revenue Rise In FY27: Fitch
NEW DELHI: Fitch Ratings on Tuesday said the aggregate revenue for its rated corporates will rise by 6 per cent in FY27 on steady GDP growth and an improved consumer-spending outlook, following a comprehensive reduction in GST rates. However, corporates could face some downside risks if additional US tariffs...
Retail Investors Getting Modest Returns From Equity Holdings: Report
MUMBAI: Retail investors’ equity portfolios have significantly underperformed benchmark indices over the past 16–18 months, delivering barely positive returns, according to a research note by Kotak Institutional Equities (KIE). An analysis of direct and indirect equity holdings — including mutual funds (MFs) and portfolio management services (PMS) — shows...
Government Finalising New Steel Scrap Recycling Policy
JAIPUR: The steel ministry is in the process of finalising a new steel scrap recycling policy to overhaul the exiting policy of 2019, primarily to address stakeholders’ pain points and make it more align with the changing industry dynamics. Scrap is used both in the electric arc furnace (EAF)...
IMF Raises India’s GDP Growth Forecast To 7.3 Per Cent For Current Fiscal
NEW DELHI: The International Monetary Fund on Monday raised India’s growth projection to 7.3 per cent for fiscal 2025-26, up 0.7 percentage point from its October forecast, on the back of better-than-expected performance of the economy. The Washington-headquartered multilateral lending agency has also revised India’s Gross Domestic Product (GDP)...
India To Transition To Upper-Middle Income Country By 2030: SBI Report
NEW DELHI: India is set to transition to ‘upper-middle income’ country in next four years in 2030, joining the ranks of China and Indonesia, and become the third largest economy even earlier in 2028, an SBI Research report said on Monday. The World Bank classifies nations as low income,...
