Business
Despite Growth Surprise, Economists Bat For 25 Basis Points Rate Cut Next Week
MUMBAI: Despite the surprising Q2 growth numbers of 8.2% that surpassed the RBI’s estimates, economists are still batting for a 25 bps rate cut next week, saying the economy will lose steam in the second half, necessitating support at a time when the inflation pressure is off the table....
Govt’s Fiscal Deficit Touches 52.6% Of The Budget Estimates Till October, Capex Increases 32%
NEW DELHI: The government’s fiscal deficit for the first seven months of 2025-26 (FY26) widened ₹8.25 trillion to 52.6 per cent of the Budget Estimates (BE) compared to 46.5 per cent in the corresponding period last year as capital expenditure (capex) increased by 32 per cent over last year...
Capex By States To Grow A Modest 4-6 Per Cent In FY26: Crisil
NEW DELHI: State governments are set to increase capital outlay by a modest 4 to 6% in FY26, pushing total spending to ` 7.4–7.5 lakh crore, according to a Crisil Ratings analysis of 18 major states that account for 94% of the country’s state-level capex. This is a sharp...
IMF Projects India’s GDP To Grow 6.6% In Fy26 As GST Reforms Cushion US Tariffs Impact
NEW DELHI: India’s economy is estimated to grow at 6.6% in 2025-26, the International Monetary Fund said, noting that the Goods and Services Tax (GST) reforms are likely to help cushion the country from the adverse impact of the 50% tariffs imposed by the US. “India’s economy has continued...
GST Rate Cuts Gave Economy Momentum: FinMin Report
NEW DELHI/CHENNAI: The GST rate rationalisation gave a “measurable” boost to consumption, and the Indian economy is on a stable footing to navigate risks and maintain growth momentum through the current fiscal, a finance ministry report said on Thursday. The Finance Ministry’s Monthly Economic Review for October said that...
India Urges UAE To Follow Quota System For Gold Exports
NEW DELHI: India briefed the United Arab Emirates (UAE) on the recent changes in the way it allocated quota for imports of gold on concessional duties under the Comprehensive Economic Partnership Agreement (CEPA) to make the process more transparent. Through this briefing at the third meeting of the Joint...
Bank Credit To Improve To 11.5-12.5 Per Cent In FY26, Says CareEdge Ratings
MUMBAI: Indian banks are expected to deliver a stronger performance in FY26 with improved asset quality and credit growth showing signs of revival, according to CareEdge Ratings. The rating agency has projected overall bank credit growth of 11.5–12.5 per cent in FY26, lifted by a rebound in consumption following...
RBI, SEBI Weigh Relaxing Exchange-Traded Forex Derivative Norms To Stem Offshore Shift
MUMBAI: Indian regulators are in discussions to reassess stringent regulations governing exchange-traded currency derivatives, following appeals from exchanges and traders, three sources with direct knowledge of the matter said, in a potential effort to revive a market increasingly shifting offshore. The Reserve Bank of India in 2024 reiterated a...
Cabinet Greenlights ₹7,280 Crore Scheme For Rare Earth Magnet Manufacturing
NEW DELHI: The Union Cabinet, in a meeting chaired by Prime Minister Narendra Modi, on Wednesday approved a ₹7,280 crore scheme to promote manufacturing sintered rare-earth permanent magnets (REPM), marking India’s first attempt to build an integrated domestic supply chain for the critical material. The “Scheme to Promote Manufacturing...
India’s Green Economy May Attract $4.1 Trillion Investments, Create 48 Million Jobs: Study
NEW DELHI: India could attract USD 4.1 trillion in cumulative green investments and create 48 million full-time equivalent (FTE) jobs by 2047, according to an independent study by the Council on Energy, Environment and Water (CEEW). The analysis further projects that India could also unlock a USD 1.1 trillion...
IMF Reclassifies India’s Forex Regime As ‘Floating’ After Year Of Stability Tag
NEW DELHI: The International Monetary Fund (IMF) has reassigned the ‘floating’ label for the Rupee’s exchange rate arrangement, citing declining forex interventions by the central bank in recent times. In 2023, the Fund had dropped the floating tag and termed India’s de facto exchange rate policy a ‘stabilised arrangement’,...
Informal Sector GVA Estimates To Get A Leg Up In New GDP Series
NEW DELHI: The new Gross Domestic Product (GDP) series with 2022-23 as the base year will be marked for a new element of dynamism in estimating the household sector. It will have the gross value added (GVA) estimates of the large unincorporated sector compiled using industry-wise productivity information, the...
SEBI Steps In To Fortify Bond Markets
BENGALURU/MUMBAI: At a time, when retail participation in the bond market has been rising at a fast clip, the Securities and Exchange Board of India’s (Sebi) latest release, cautioning against unregistered online bond platform providers (OBPPs) is expected to serve as a wake-up call and put pressure on unregulated...
India On Track To Surpass $4 Trillion GDP In FY26: CEA
NEW DELHI: India is on track to exceed the $4 trillion milestone in 2025-26 (FY26), surpassing the $3.9 trillion gross domestic product (GDP) mark recorded at the end of March 2025, Chief Economic Adviser (CEA) V Anantha Nageswaran said on Tuesday. Delivering a keynote address at the IVCA GreenReturns...
Seasonality Rises In Demand Deposits, Banks’ Cash In Hand, Says RBI Report
MUMBAI: While seasonality in India’s macroeconomic indicators remained broadly stable, several key variables — like banking aggregates, vegetable prices, industrial output and payment systems — are showing more seasonal fluctuations, according to a Reserve Bank of India study. In a report titled Seasonality in Key Economic Indicators of India,...
GDP In Second Quarter To Grow At 7-7.5 Per Cent
NEW DELHI: The economy continues to be on a strong footing as analysts expect the second quarter GDP to grow at 7-7.5% boosted by high rural consumption as a result of low inflation and GST rate rationalization. Though the second quarter GDP growth is estimated to be lower than...
FY27 Budget Should Streamline Withholding Tax Regime: Deloitte
NEW DELHI: The Budget for 2026-27 should streamline the withholding tax regime and introduce tax incentives to drive investment and innovation in emerging and high-potential sectors like R&D, renewable energy, Deloitte India said on Tuesday. Deloitte India, in its FY 2026-27 Budget wishlist, also recommended that the government should...
Employment In Unincorporated Sector Rises To 12.85 Crore In Q2
NEW DELHI: Employment in the Unincorporated Sector Enterprises (USE) rose marginally to 12,85,95,600 in July-September from 12,85,72,500 in the preceding quarter, a government survey, released on Tuesday, showed. The National Statistics Office (NSO) released Quarterly Estimates of the Unincorporated Non-Agricultural Sector for the July-September 2025, an official statement said....
