Reliance Industries Ltd reported a 12.5 per cent fall in its March quarter net profit, primarily impacted by the global energy crisis affecting its oil and chemicals business, while its consumer-facing Jio Platforms unit saw a 13 per cent increase in profit after tax.
The company said Valcambi was the engine driving the group's business, but Valcambi's audited accounts showed revenues that were only a fraction of what the group reported. That raised a major red flag.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
After spending 31 months in Chennai's Puzhal prison, Ahmed Buhari is finally breathing free, as courts across the country quashed proceedings linked to his group company Coastal Energy.
The Central Board of Indirect Taxes and Customs (CBIC) has eliminated the Rs 10 lakh value cap per consignment for courier-based commercial exports, effective April 1, aiming to significantly boost e-commerce shipments, particularly for MSMEs and artisans.
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.
The Comptroller and Auditor General of India (CAG) has reported significant financial irregularities in the Union government's FY25 accounts, including ~12,754.47 crore in misclassification and ~54,282.32 crore in outstanding utilisation certificates, with some dating back to 1985-86.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
A software engineer earning a high salary allegedly abandoned his career to run a fake online trading racket, duping investors of nearly Rs 100 crore.
Global brokerage Bernstein has issued a cautionary note, stating that India risks 'under-delivering on its potential' unless it addresses key policy bottlenecks and structural risks, including employment challenges from AI, limited manufacturing gains, and rising welfare spending.
However, from April 1, 2026, transactional forms such as tax deducted at source statements, remittances, Form 60, and Form 15G/15H would operate under the new simplified framework.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
Congress MP Priyanka Gandhi has accused the ruling LDF in Kerala and Chief Minister Pinarayi Vijayan of being Prime Minister Narendra Modi's "B-team" and of secretly joining hands with the BJP, alleging a compromised leadership and lack of accountability.
'We want to clear these pending refunds so that no issues arise once the new I-T Act takes effect.'
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
India's retail inflation, which has stayed below the Reserve Bank of India's (RBI's) 4 per cent target in recent times, is likely to remain benign in the coming months, RBI Deputy Governor Poonam Gupta said in a speech, on Friday, which was uploaded on the central bank's website on Tuesday. Headline inflation dipped to multi-year lows of around 1.5-2.8 per cent in late 2025.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
Is the parabolic rise in silver running out of steam or just getting started? Ramalingam Kalirajan offers his take on if you should invest in silver now?
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
The Reserve Bank of India (RBI) on Tuesday announced a fresh round of liquidity measures through open-market operations (OMOs) and a foreign exchange buy-sell swap, under which it will inject close to Rs 3 trillion into the banking system. The central bank said it would purchase Government of India securities worth Rs 2 trillion through OMOs, spread across four tranches of Rs 50,000 crore each to be conducted on December 29, January 5, January 12 and January 22.
India's electric two-wheeler (e2W) manufacturers have urged the government to extend subsidies under the PM E-Drive (Electric Drive Revolution in Innovative Vehicle Enhancement) scheme beyond March 2026, cautioning that a withdrawal could slow near-term demand even as confidence in long-term electric mobility adoption remains intact.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
The government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs.
Nearly 96 per cent of new applicants will benefit from this simplified approval route.
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
Rahul Gandhi said that had an INDIA Bloc government negotiated the trade agreement with the US, it would have told US President Donald Trump that he should treat India as an equal.
The Indian economy is growing at a robust pace, driven by strong domestic demand, low inflation, and the healthy balance sheets of banks, said a Reserve Bank report released on Wednesday.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
West Bengal Chief Minister Mamata Banerjee on Thursday dramatically turned up at the residence of Indian Political Action Committee (I-PAC) chief Pratik Jain amid an ongoing Enforcement Directorate raid, alleging that the central agency was attempting to seize the Trinamool Congress's internal documents, hard disks and sensitive data linked to its election strategy.
Experts said that earmarking of funds for public health at par with national security indicates a key policy shift.
Prime Minister Narendra Modi on Sunday charged the Trinamool Congress government with 'playing with national security by protecting infiltrators' for vote-bank politics, and said ending the ruling party's 'maha jungle raj' was vital to restore law and order, development and investor confidence in the state.
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
The change in the government's engagement with the economy's need for reforms is more nuanced than how analysts have so far perceived it, points out A K Bhattacharya.
Amid the Budget preparation, the revenue department is assessing the feasibility of further adjustments to maximise benefits for salaried individuals.
India's new national accounts will leverage new data sources and surveys to enhance the measurement of the country's informal economy, and introduce double deflation methods across sectors, replacing the current system that relies on a single deflation mechanism in Gross Domestic Product (GDP) calculations.
In the mid-1990s, when the shares of listed companies first began to be held in electronic form, they accounted for less than 1 per cent of the stocks bought and sold on the stock exchanges. This climbed to 99.5 per cent by 2001.
The Indian government has expressed its disagreement with the IMF staff's 'baseline' assumption that the 50 per cent US tariffs on its goods exports 'would remain in place indefinitely', based on which the staff pegged the country's GDP growth at 6.6 per cent this year, and pared its 2026-27 projection by 20 basis points to 6.2 per cent.
