The Finance Ministry is set to commence its pre-budget meetings on October 12, initiating preparations for the Union Budget 2027-28, which will be the fourth budget of the Modi 3.0 government and the tenth for Finance Minister Nirmala Sitharaman.
The Centre has spent 28 per cent of its FY27 capital expenditure budget of Rs 12.21 trillion in the first three months against around 24.5 per cent during the corresponding period a year ago.
Taking both direct and indirect taxes, the gross collection is expected to grow 10.45 per cent to Rs 33.61 trillion in 2023-2024.
Chief Minister C Joseph Vijay-led Tamilaga Vettri Kazhagam government on Wednesday allotted over Rs 1,000 crore to provide gifts of gold coin, ring and milch cows to beneficiaries to fulfill the election promise made by the party ahead of the assembly election this year.
India has exhausted 58.04 per cent of its FY27 fertiliser subsidy budget in under five months, primarily due to a significant surge in global urea prices following the conflict in West Asia, necessitating potential additional government expenditure.
India's fertiliser ministry has introduced a new analytical tool and a national-to-retail dashboard to monitor fertiliser dispatches, movement, and inventories in real time, aiming to prevent localised shortages and ensure equitable access for farmers.
Indian states' capital expenditure (capex) utilisation for April-August FY27 fell to 21.21 per cent, slightly below the 21.73 per cent recorded in the same period of FY26, according to a CAG analysis. Despite the dip, this figure remains the third highest in the past six years, with significant variations observed across states.
The Indian Centre has spent 37 per cent of its ~12.22 trillion capital expenditure target in the first four months of FY27, marking a 30 per cent year-on-year increase, while simultaneously keeping the fiscal deficit under control at 27 per cent of the Budget Estimate.
After a gap of three years, direct tax collections -- which include corporate tax and personal income tax -- have exceeded the Budget estimates for FY'22, indicating economic recovery.
The ongoing US conflict with Iran has cost the Trump administration an estimated $45.1 billion, according to a Pentagon estimate provided to the US Congress on Friday, CNN reported, citing two sources familiar with the matter.
From playing the quietly determined Lata Mehra in Mira Nair's A Suitable Boy to stepping into the supernatural world of Tooth Pari: When Love Bites, Tanya Maniktala has built a career around characters that are anything but alike.
Showing signs of financial strain, the government's fiscal deficit in the first five months of the ongoing financial year has already touched 74.6 per cent of the budget estimate.
Rs 299,900 can buy you Apple's first foldable iPhone. Or it can buy you a passport full of memories, a suspiciously large holiday wardrobe and enough airport coffee to develop a personality.
India's leading IT companies are anticipated to report subdued revenue growth and largely stable margins for the July-September quarter, as clients maintain tight discretionary budgets, with analysts closely watching the conversion of strong bookings into revenue and the impact of AI on traditional services.
In absolute terms, the fiscal deficit, or gap between expenditure and revenue receipts, stood at over Rs 5.07 lakh crore (Rs 5.07 trillion) at the end of February, according to the data released by Controller General of Accounts on Thursday.
The fiscal deficit situation during April-May of the last fiscal was 37.5 per cent of the Budget estimates.
The National Payments Corporation of India (NPCI) stated that the Merchant Discount Rate (MDR) "is distributed only amongst the UPI ecosystem, to further invest into infrastructure resilience, innovation, cybersecurity (protecting the UPI infrastructure with banks and non-banks) and customer service."
The government is introducing a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant payments above Rs 2,000, effective October 15. This move ends the zero-MDR regime, aiming to fund UPI infrastructure and sustainability, as the previous government subsidy was insufficient to cover operational costs. Payments between individuals and most everyday merchant transactions will remain free.
The Comptroller and Auditor General (CAG) has identified significant financial irregularities in the Maharashtra government's flagship Ladki Bahin scheme, including an excess expenditure of Rs 3,541.16 crore and the parking of Rs 15,586 crore in Virtual Personal Deposit Accounts (VPDAs) without immediate need. The report highlights deficiencies in budget estimation and financial management, recommending realistic fund assessments and strict adherence to expenditure needs.
While presenting the Union Budget to Parliament earlier this month, Finance Minister Nirmalal Sitharaman had raised fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent pegged earlier for 2019-20 due to revenue shortage.
Direct tax realisation, however, is likely to fall short of the enhanced target of Rs 3.87 lakh crore (Rs 3.87 trillion), mentioned in the revised estimate for 2009-10.
Air India expects to wipe out some red marks from its balance sheet.
Though the Centre's fiscal consolidation story is taking a hit, Plan expenditure is likely to provide some respite. In the Budget, expected to be tabled by mid-March, the Plan expenditure is likely to be scaled down in the revised estimates for 2011-12, compared to Budget estimates.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
India's fiscal deficit touched Rs 4.57 lakh crore or 84.4 per cent of budget estimates in the first seven months of the current fiscal, reflecting signs of stress in government finances.
Non-Plan expenditure for April-May stood at Rs 2.01 lakh crore.
Finance Minister Nirmala Sitharaman announced a fiscal deficit target of 4.3% of GDP for FY27, continuing the path of fiscal consolidation. The government aims to reduce the debt-to-GDP ratio to 55.6% by BE 2026-27 and further to around 50% by March 2031.
Moody's Ratings has sharply increased India's GDP growth forecast for fiscal 2026-27 to 7 per cent, making it the fastest among G20 economies, driven by economic resilience despite the Middle East conflict. However, the agency flagged significant inflation risks stemming from elevated oil prices and potential El Nino disruptions.
Arundhati Bhattacharyya, Salesforce President and CEO for South Asia, highlighted how cloud and AI are democratising capabilities, offering India a unique opportunity to leapfrog in the technology revolution. Speaking at the IMC Chamber of Commerce, she emphasised that AI will create more jobs by addressing unmet business demands and could significantly boost India's GDP, with NITI Aayog estimating a USD 500-600 billion addition by 2035. She urged Indian businesses to transform using technology, focus on data, redesign work, and invest in skills, stressing that AI is not just for large corporations.
Pakistan has increased its defence budget by 17.6 per cent to PKRs 3,000 billion for the upcoming fiscal year, as announced by Finance Minister Muhammad Aurangzeb. The federal budget, estimated at PKRs 18,771 billion, targets 4 per cent GDP growth, with significant allocations for debt service and pensions. Prime Minister Shehbaz Sharif highlighted economic stability and ongoing discussions with the IMF, while the opposition protested Imran Khan's incarceration during the budget session.
The fiscal deficit in the first three months of current fiscal stood at Rs 2.86 lakh crore or 51.6 per cent of Budget estimates for 2015-16.
Estimates (BE), slightly better than 74.4 per cent in the same period a year ago, according to Controller General of Accounts (CGA) data released on Friday.
Arundhati Bhattacharya, Salesforce President and CEO for South Asia, stated that cloud and AI are democratising capabilities, offering India a unique opportunity to leapfrog in technology. Speaking at the IMC Chamber of Commerce, she emphasised that AI will create more jobs and urged Indian businesses to transform using technology, rather than merely digitising. She also highlighted the significant economic potential of AI adoption for India.
'I don't really expect the August increase in food prices, which was close to 6 per cent, to persist as we go close to the end of this year.'
India's net direct tax collections have surged by 16.4 per cent year-on-year to 6.51 trillion as of July 13, primarily driven by robust growth in corporate tax receipts, according to provisional data from the Central Board of Direct Taxes (CBDT).
Used-car financing has seen significant growth, but borrowers must be aware of higher interest rates, conservative loan-to-value ratios, shorter tenures, and the risk of owing more than the car's depreciated value. Understanding these factors is crucial for making informed decisions.
On the 25th anniversary of that world-changing morning in New York, it is also for the rest of to reflect. Not only on those who were killed but also on why the event happened and what led to it and what came after it, asserts Aakar Patel.
Indian states significantly increased their reliance on market borrowings to finance gross fiscal deficits in 2025-26, with the share of market borrowings rising to 76.3 per cent, even as the weighted average cut-off yield on State Government Securities (SGS) and spreads over central government securities also increased.
India's Central government is likely to see its fertiliser subsidy bill double to a record 3.4 trillion in FY27, up from the Budget estimate of 1.7 trillion, due to surging global fertiliser prices exacerbated by the West Asia war. This significant increase, coupled with revenue losses from excise duty cuts for oil-marketing companies, is straining the government's fiscal space, though capital expenditure plans remain unchanged.
Emraan Hashmi's Awarapan 2 has defied all expectations, emerging as a surprise blockbuster with a staggering opening weekend collection, while Sunny Deol's highly anticipated Batwara 1947 has significantly underperformed at the box office.
