India's MSME sector faces a significant formal credit gap of approximately Rs 60 lakh crore, with traditional channels meeting only a fraction of the demand. A new report suggests that a centralised, interoperable digital layer could effectively bridge this gap and enhance productivity across the formal business sector by digitising workflows and enabling cash-flow-based underwriting.
In many ways, 17th century India occupied a position in the global economy comparable to that of the United States today. Just as millions of people now look towards America because of its economic opportunities, merchants, adventurers and trading companies once looked towards India.
Former Chief Economic Adviser Krishnamurthy V Subramanian outlines India's strategy to become a USD 55 trillion economy by 2047. The plan hinges on leveraging its young demographic in AI, dominating sunrise sectors like space and defence tech, attracting FDI, and achieving sustained 8% GDP growth.
Finance Minister Nirmala Sitharaman stated that India is likely to sustain economic growth of 7 per cent or more in 2026-27, continuing the pace recorded since the Covid-19 pandemic, despite geopolitical uncertainties and supply-chain disruptions.
BJP leaders Rajeev Chandrasekhar and B B Gopakumar have accused both the UDF and LDF governments of pushing Kerala into an economic crisis. They criticised the lack of solutions from the ruling fronts, highlighted the state's high public debt, and questioned the allocation of revenue for development versus salaries and pensions.
Samajwadi Party president Akhilesh Yadav has criticised the BJP government's proposed Merchant Discount Rate (MDR) on high-value UPI transactions, calling it a "chungi" (tax) on digital payments. He alleged the move was an attempt to extract money from people's transactions, contradicting the government's goal of a trillion-dollar economy. The new UPI framework will impose a 0.4% MDR on person-to-merchant transactions above Rs 2,000 from October 15, with certain sectors having a flat Rs 5 MDR.
EaseMyTrip co-founder Nishant Pitti has been chargesheeted by the Enforcement Directorate in the Mahadev online betting app money laundering case. He is accused of facilitating illegal betting proceeds into the equity market via foreign portfolio investments, with his DEMAT shares worth Rs 59.60 crore provisionally attached. Pitti denies knowledge of the chargesheet and vows to cooperate, while the ED alleges his involvement in stock price manipulation and layering crime proceeds.
India's wholesale price-based inflation (WPI) increased to 9.92 per cent in August, up from 9.78 per cent in July, primarily due to rising prices across food, manufactured items, and fuel and power sectors.
India is set to develop its first 100% hydrogen-powered Direct Reduced Iron (DRI) plant, a Rs 207-crore national pilot project led by CSIR-IMMT. This initiative aims to significantly reduce carbon emissions in the steel sector and achieve net-zero commitments, focusing on adapting the technology to India's domestic iron ore conditions.
Former Delhi chief secretary Rakesh Mehta, who served under ex-chief minister Sheila Dixit, has allegedly died by suicide at his Noida residence. Police recovered a suicide note citing 'mental and health issues' as reasons. Mehta, a 1975 batch IAS officer, was 74 and had been credited with significant infrastructure projects in Delhi during his tenure from 2007 to 2010.
Finance Minister Nirmala Sitharaman announced that the Goods and Services Tax (GST) Council's October 7 meeting will focus on 'GST 2.0' process reforms, including e-invoicing and input tax credit rules, while also addressing complex issues surrounding the taxation of the digital economy and cryptocurrency.
The UN General Assembly has adopted a resolution, co-sponsored by India, to designate November 27 as the International Day for the Elimination of Child, Early and Forced Marriage. This global initiative aims to raise awareness and accelerate efforts to combat this harmful practice, which disproportionately affects women and girls, hindering their education, health, and overall human rights.
India's national security adviser was in Dhaka for roughly three-quarters of the day on Thursday to prepare the ground for Bangladesh Prime Minister Tarique Rahman's visit to New Delhi.
Trump has announced an 'Infinite Life' agreement with Denmark and Greenland, claiming it grants the United States permanent control over security and the ability to prevent adversaries from establishing a military presence or making sensitive investments on the strategically vital Arctic island.
Prime Minister Narendra Modi cautioned against the 'weaponisation' of technology and critical minerals at the BRICS summit, advocating for cooperation to foster shared prosperity. Concurrently, Chinese President Xi Jinping announced plans for an open-source AI ecosystem for BRICS nations, positioning Beijing as a key technology partner amid global AI competition.
Competition Commission of India (CCI) chairperson Ravneet Kaur has warned that the rapid adoption of artificial intelligence (AI) could intensify anti-competitive practices in digital markets, including self-preferencing, discriminatory pricing, and market manipulation. She highlighted the CCI's ongoing study into AI's impact on competition and stressed the regulator's role in fostering growth while preventing abuse of dominance.
The question for the next 20 years is not whether India can become a $5 trillion or $10 trillion economy. Those are attractive targets, but the real question is whether India can create enough productive jobs, educate its children properly, make its cities liveable, and give hundreds of millions of people a substantially better life, asserts Ramesh Menon.
The Delhi Chief Electoral Officer's office has issued notices to over 33 lakh voters, including former deputy prime minister LK Advani, External Affairs Minister S Jaishankar, and former vice-president Jagdeep Dhankhar, over discrepancies in their electoral roll details. These notices are part of the Special Intensive Revision (SIR) exercise, primarily due to details not matching with the 2002 SIR. Despite concerns raised by some politicians, officials assure that no names will be deleted without due verification and an opportunity for voters to respond.
The highlight of the successful BRICS Summit was its ability to deliver a joint statement that all members, including Iran and the United Arab Emirates, embroiled in the war in West Asia, signed.
The Indian coal ministry announced that 147 commercial coal blocks auctioned since 2020 are expected to attract approximately 55,000 crore in capital investment, generate 490,000 jobs, and contribute significantly to state revenues.
Prime Minister Narendra Modi lauded India's 7.8 per cent GDP growth, achieved despite global conflicts and instability. He emphasised the importance of Swadeshi and self-reliance for a developed India by its 100th year of Independence, urging citizens to avoid unnecessary foreign expenditures.
The Raman Kant Munjal Scholarship for 2026-27, initiated by the Raman Kant Munjal Foundation and supported by Hero FinCorp, is designed to help students in finance-related fields achieve their career aspirations.
The 18th BRICS Summit got underway in New Delhi with leaders of partner countries gathering in the capital to discuss the changing global economic and geopolitical landscape.
Flexi-cap mutual fund schemes have attracted nearly Rs 50,000 crore in net inflows during January-July 2026, a 27 per cent increase year-on-year, as investors increasingly favour dynamic equity strategies.
The CBI has registered a case against Arunachal Pradesh environmental activist and lawyer Bhanu Tatak for allegedly receiving Rs 20.94 lakh in foreign funds without mandatory FCRA registration or prior permission. The agency claims these funds were used to organise and sustain protests against two hydropower projects in the state. A preliminary enquiry indicated Tatak received foreign contributions directly into her personal account and did not file income tax returns declaring these funds.
The CPI and CPI(M) have announced they will contest one Assembly segment each in the upcoming Tamil Nadu bypolls, while continuing their outside support for the ruling TVK. This decision creates a five-cornered contest and highlights the Left parties' independent stance, aimed at preventing indirect BJP influence and addressing public issues.
'A balance had to be struck between the economic cost of taking action at this point against the need not to fall behind the curve in controlling inflation and anchoring inflation expectations.'
India's passenger vehicle (PV) exports saw a 17 per cent year-on-year decline in August, contrasting sharply with a 36.5 per cent surge in domestic dispatches, which reached a record high for the month as automakers prepared for the festive season.
CPI(ML) Liberation general secretary Dipankar Bhattacharya has strongly criticised the newly introduced Merchant Discount Rate (MDR) on select UPI transactions, labelling it a "UPI tax" and demanding its immediate rollback. He drew parallels with demonetisation, arguing that the new framework would negatively impact small shopkeepers, MSMEs, and ordinary citizens by increasing prices.
Prime Minister Narendra Modi, in bilateral talks with Chinese President Xi Jinping, emphasized that both nations must show sensitivity to each other's core issues and be guided by mutual respect, sensitivity, and interest. Modi highlighted the critical importance of peace and tranquillity along the Line of Actual Control for the development of India-China relations, while also addressing concerns regarding Taiwan and Tibet.
RBI Governor Sanjay Malhotra stated that the central bank consistently views fintechs as 'valuable partners' in shaping India's future financial system, crediting the sector with expanding financial inclusion, enhancing customer experience, and streamlining credit delivery, particularly for MSMEs.
'If you listen to a rowdy in a class, he will keep on bullying you.' 'India can say do whatever you want. We will not compromise on anything.'
The Finance Ministry has dismissed allegations of US pressure influencing the 0.4% Merchant Discount Rate (MDR) on select UPI transactions. It clarified that NPCI guidelines prioritise RuPay credit cards on UPI and do not favour international cards. The ministry also asserted that the MDR, applicable to person-to-merchant transactions above Rs 2,000, is unlikely to increase cash transactions or cause inflation, with measures in place to prevent burdening consumers.
West Bengal has launched an Emerging Quantum and Semiconductor Technologies (EQST) section at CSIR-CGCRI to attract investments and position the state as a hub for next-generation technology. Minister Kalyan Chakraborti highlighted India's need to invest in these crucial sectors and outlined the state's plans to collaborate with institutions and leverage budget initiatives to foster research and start-ups.
Bangladesh's State Minister for Foreign Affairs, Humaiun Kobir, announced that the country seeks to "reset" its relationship with India, moving towards a new bilateral engagement based on mutual interests. He described ties during the previous government's tenure as "uncomfortable" and emphasised the need for Bangladesh to approach India as "just another country," focusing on balanced relations rather than an "excessive preoccupation." This comes after Bangladesh's Prime Minister Tarique Rahman did not attend the BRICS Summit in India.
The United States has sanctioned four India-based companies, including a customs broker and three other firms, for their involvement in importing petroleum and petrochemical products from Iran. This action is part of "Operation Economic Outcast," a broader US campaign to sever Iran's financial lifelines and prevent funding for its destabilising activities.
'Improved law and order and transparent governance have helped change UP's investment image.'
Forty-nine-year-old Meloni has been Italy's prime minister since October 22, 2022.
Prasar Bharati Chairman Prasoon Joshi voiced concerns over AI's impact on India's cultural heritage, including music and endangered languages, advocating for human-AI collaboration. Meanwhile, a Spotify report revealed significant growth in royalties for Indian artists, with linguistic diversity driving economic strength in the creative industries, highlighting the platform's role in enabling talent across various Indian languages.
Andhra Pradesh Chief Minister N Chandrababu Naidu announced several new initiatives for Tirumala Tirupati Devasthanams (TTD), including Aadhaar-based devotee insurance for Rs 2 lakh, the establishment of an SV Museum by TCS Trust, and the introduction of electric buses donated by Reliance Foundation and Bharat Biotech. The plans also include global expansion of Srivari temples, improved Annadanam, integrated hospital services, and significant infrastructure development in Tirupati to make it a services and wedding destination with a Net Zero concept.
