The RBI on Wednesday slashed key interest rate by 25 basis points, for the second time in a row, to support a shuttering economy hit by reciprocal tariffs imposed by the US. Following the rate cut, the key policy rate eased to 6 per cent providing relief to home, auto and corporate loan borrowers.
India's second-largest IT company Infosys on Thursday reported an 11.7 per cent decline in consolidated net profit to Rs 7,033 crore for the March quarter. It had posted a profit (attributable to owners of the company) of Rs 7,969 crore in the year-ago period.
India's manufacturing sector growth fell to a 14-month low in February amid softer increase in new orders and production, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) registered 56.3 in February, down from 57.7 in January, but remained firmly within the 'expansionary' territory. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
The Parliament on Wednesday approved a watered down version of the fiscal responsibility bill aimed at disciplining state finances that left out clauses binding the government to tough fiscal deficit targets.
India's manufacturing sector growth rose to an eight-month high in March, driven by quicker increases in factory orders and production amid buoyant demand conditions, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) was at 58.1 in March, up from 56.3 in February, indicating a substantial improvement in the health of the sector that was above its long-run average. In February, India's manufacturing PMI fell to a 14-month low amid softer increase in new orders and production.
Gross GST collections rose by 9.1 per cent to about Rs 1.84 lakh crore in February, boosted by domestic consumption and indicating potential economic revival. As per the official data released on Saturday, on a gross basis, mop up from Central GST stood at Rs 35,204 crore, State GST at Rs 43,704 crore, Integrated GST at Rs 90,870 crore and compensation cess of Rs 13,868 crore.
India's services sector activity witnessed a sharp uptick in February boosted by improving domestic and international demand, which resulted in a quicker expansion in output and a substantial increase in employment, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from January's 26-month low of 56.5 to 59.0 in February, indicating a sharp rate of expansion.
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
The government has already crossed the fiscal deficit at 132 per cent of the estimate as of December end.
Finance ministers of states demanded an increase in allocation under 50-year interest-free loan scheme, while fiscally stressed states like Punjab and Kerala pitched for a special package and borrowing flexibility, sources said on Friday. In a pre-budget meeting with Union Finance Minister Nirmala Sitharaman, states have also urged for higher borrowing limits to support fiscal activities, besides additional funds for Jal Jeevan Mission.
'The first and most basic responsibility of any government is to protect its people from external threats and internal harm.' 'Budget 2025-2026 has to focus on meeting this responsibility,' asserts R Jagannathan.
In a virtual briefing, Royce Murray, assistant secretary for Border and Immigration Policy, US DHS, in response to a query related to the October 22 charter flight that deported a batch of Indian nationals, said, "no minor" among them on that removal flight, adding these were all male and female adults.
Reserve Bank of India (RBI) Governor Sanjay Malhotra said the repo rate cut in the February meeting of the monetary policy committee (MPC) was due to inflation aligning with the target and recognising the fact that monetary policy is forward-looking.
Finance Minister Pranab Mukherjee will likely encapsulate this thinking in his Budget speech, to be finalised by March 13.
India's manufacturing sector growth started the year 2025 on a strong footing and touched a six-month high in January, fuelled by the steepest upturn in exports in nearly 14 years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from December's one-year low of 56.4 to 57.7 in January supported by the fastest upturn in new export orders since February 2011.
Trump further pointed out India's strong economic position and high tariffs on US goods, stating, "They got a lot of money. They're one of the highest taxing countries in the world in terms of us. We can hardly get in there because their tariffs are so high."
Indian economy to grow at 6.3-6.8 pc in FY26, against 6.4 pc in FY25
While the BJP received the highest amount, securing Rs 1,685.63 crore, the Congress received Rs 828.36 crore, and the Aam Aadmi Party (AAP) Rs 10.15 crore.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
The Delhi government has announced that vehicles older than 15 years will be denied fuel at petrol pumps starting April 1.
'But this Budget alone will not fix what ails the Indian economy.'
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
The present government had removed the need for clearance from Dhaka for Pakistani heads of missions while issuing visas, Bangladesh high commissioner to Pakistan Iqbal Hussain told the business community here at the Lahore Chamber of Commerce and Industry on Saturday.
'Stay disciplined, and remain invested.' 'Volatile times are the best to invest in structural opportunities at the right price.'
India's services sector activity expanded at the slowest pace in over two years in January amid softer increases in sales and output, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services PMI Business Activity Index fell from 59.3 in December to 56.5 in January -- its lowest level since November. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Trump made these remarks after Elon Musk-led DOGE's (Department of Government Efficiency) disclosed that USAID contributed USD 21 million to Election Commission for boosting voter turnout.
Rajiv Kumar, the 25th chief election commissioner of India, has demitted office after a nearly three-year tenure marked by both electoral successes and allegations of bias from opposition parties. Kumar oversaw the 2024 Lok Sabha elections and the Jammu and Kashmir assembly polls, among other major elections. During his tenure, he implemented reforms across various aspects of the Election Commission's functioning, including structural, technological, capacity development, communication, international cooperation, and administration. However, he faced criticism from opposition parties and activists on several issues, including the efficacy of Electronic Voting Machines, alleged fudging of voter data, and being "lenient" on the ruling BJP. While the Commission responded to the allegations, Kumar often defended himself and the poll authority through poetry. In his farewell address, Kumar expressed concerns about the timing of petitions raising doubts over poll processes and the impact of freebie promises on the fiscal health of the state. He also criticized the practice of showing early trends on counting day by news channels, calling it "nonsense". Kumar's tenure was marked by numerous controversies, with opposition parties and activists alleging bias and irregularities. While the Election Commission defended its actions, the allegations cast a shadow over his time in office.
Even as the debate over off-Budget liabilities continues, former finance ministry bureaucrats and leading economists say it's time the government went beyond the targets in the Fiscal Responsibility and Budget Management Act.
The government has utilised 'escape clause' under the FRBM Act which provides it leeway for relaxation of fiscal deficit roadmap during time of stress.
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
All eyes will be on whether Sitharaman will deliver a populist budget leaving more money in hands of the common man or push the reform agenda by staying on the fiscal glide path to lower the fiscal deficit to 4.5 per cent of GDP by 2025-26.
"It is just that Fadnavis and I have swapped our chairs. Only Ajit Pawar's chair is fixed," said Shinde, who was the CM before the assembly elections with Fadnavis and Pawar as his deputies then.
Credit-focused SIFs with lower minimum investment thresholds can provide a more practical option for investors with higher risk appetite, suggests Subodh Rai.
In a major shift from his earlier stance, United States-President elect Donald Trump has expressed his support for the H-1B visa programme and acknowledged frequently using it for his own properties, calling it a 'great programme', according to a report by New York Post.
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
India's manufacturing sector growth recovered from September's eight-month low to 57.5 in October fuelled by faster increases in total new orders and international sales, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from September's eight-month low of 56.5 to 57.5 in October, indicating a substantial and accelerated improvement in operating conditions.
An Income-Tax Department internal committee reviewing the old direct tax law to pave the way for a new one has "largely" received suggestions for "simplifying" the language, better "structuring" the provisions and enlarging the ambit of schemes like presumptive taxation, CBDT chairman Ravi Agrawal said Sunday. Speaking to PTI during a post-Budget interview at his North Block office, Agrawal said the panel also "studied" the deliberations and processes of countries like the UK, Australia and some others where a similar tax law simplification exercise was undertaken.
India's Finance Minister Nirmala Sitharaman has announced an ambitious plan to develop the country's top 50 tourist destinations in a "challenge mode", with the aim of boosting employment-led growth and attracting international visitors. The Ministry of Tourism has received a significant budget increase for 2025-2026, with a focus on enhancing tourism infrastructure, promoting domestic and international travel, and ensuring the safety of tourists, particularly women. The government plans to promote homestays, improve connectivity to tourist spots, and provide performance-linked incentives to states that demonstrate effective destination management. The budget also includes investments in public enterprises, skill development programs, and initiatives to promote medical tourism and spiritual tourism.
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