CAG warns most states of fiscal imprudence as March spending overshoots limits, with key departments exhausting large portions of budgets in the last month of FY24.
...on par with oil, power, and defence, and to restrict its storage under foreign control.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
Digital payments provider PhonePe has filed draft papers with markets regulator Sebi for its upcoming initial public offering (IPO) using the confidential pre-filing route. On Wednesday, the company's spokesperson said, "PhonePe Ltd has filed the Pre-filed Draft Red Herring Prospectus with Sebi and the stock exchanges, under...the Sebi ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges".
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, which the government said shows resilience of the Indian economy and the effectiveness of cooperative federalism. The gross GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017. The net mop-up was Rs 1.92 lakh crore.
With demand for information-technology (IT) services in North America still sluggish, Europe has become a source of optimism for Indian companies because it is delivering steady gains over the past two years and continuing to outperform in the latest quarter. Yet analysts caution a full-scale revival will require a rebound in the United States (US), particularly in manufacturing, retail, and BFSI (banking, financial services, and insurance), because Europe contributes only about a third of the revenues.
Credit quality of Indian corporate is expected to be stable in the second half of the current financial year (H2FY26), supported by easing monetary cycle, and declining inflation, coupled with income-tax relief and rationalisation of the goods and service tax (GST) rates, among others.
Sector analysts in India feel that the new convention may not lead to a significant increase in the number of Indian employees being sent to the UK.
The Congress party has criticized Prime Minister Narendra Modi's handling of GST reforms, calling them inadequate and demanding an apology for the tax imposed on essential items. They argue that the reforms are merely a 'band-aid' solution and that the government should address the states' demand for extended compensation.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
'New announcements are made every day which brings tremendous amount of instability and uncertainty.' 'Relying on America has become a big problem.'
The magnitude of the new H-1B visa application fee for fresh petitions - math of which works out to USD 500 million in case of 5,000 filings - may nudge IT companies to expand offshore delivery or increase local hiring, according to Motilal Oswal Financial Services.
On his 200th birth anniversary, Utkarsh Mishra traces the life, thought, and legacy of Dadabhai Naoroji, the Grand Old Man of India.
'If we want to pivot meaningfully from a services-driven economy to a technology and manufacturing-led one.'
Turkiye and Azerbaijan backed Pakistan and condemned India's recent strikes on terror camps in that country and Pakistan-occupied Kashmir under Operation Sindoor.
During negotiations, the officer allegedly agreed to reduce the amount to Rs 2 crore, with the condition that the first installment of Rs 50 lakh had to be paid to the middleman by Thursday evening, the complaint said.
The information technology (IT) services industry may be headed for another year of sluggish growth. Based on the results of the top five IT services companies for the first quarter of 2025-26 (Q1FY26), analysts say the possibility of hitting high single-digit revenue growth in FY26 looks unlikely.
Indian cricket fans, who love turning up for IPL matches across the country, will have to shell out more for tickets next season with government raising the Goods and Services Tax.
Wipro on Wednesday reported a 25.9 per cent year-on-year rise in consolidated net profit for the March quarter to Rs 3,569.6 crore, but warned of a weak quarter ahead with up to 3.5 per cent expected drop in IT services revenue for Q1FY26, amid global uncertainties. CEO and Managing Director Srini Pallia said clients remain cautious in the face of macroeconomic uncertainty.
The telecom department is not contemplating providing any relief to Vodafone Idea with regard to adjusted gross revenue, Minister of State for Communications Chandra Sekhar Pemmasani said on Monday. "We have recently converted a lot of their debt into equity.
Amazon India unveiled a dedicated marketplace section highlighting products with reduced tax burdens as the goods and services tax (GST) restructuring took effect on September 22, positioning the ecommerce giant to capitalise on lower consumer prices across electronics, appliances, and other categories. Its rival Flipkart, too, has rolled out its own GST-focused storefront, the GST Bachat Utsav, aimed at helping shoppers maximise benefits from the new tax rates across multiple categories.
'Returning Indians can leverage their international skills and the strong funding environment for start-ups here.'
India's top IT services firms delivered single-digit revenue growth in April-June, capping off a mixed, somewhat-sobering quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decisionmaking. Management commentary painted a mixed picture, caution prevailed, yet industry CEOs also emphasised cost optimisation, vendor consolidation, and opportunities in AI makeovers.
Amid the impending rejig in the goods and services tax (GST) rates, an association representing the country's beverages industry has appealed to the Centre to not classify aerated beverages as sin/demerit good and bring it under the 18 per cent slab while citing their "mass consumption" as a reason.
At 8,700 screens, India, the world's largest film producing country, has just six screens for every million of its people, compared to 125 in the US and 30 in China. With Sitaare Zameen Par, Aamir Khan hopes to expand the market for Indian cinema.
The more things change, the more they remain the same for corporate India. In the April-June 2025 period (Q1FY26) - for the ninth consecutive quarter - listed companies witnessed only single-digit revenue growth, while their core earnings, excluding other income and one-time gains, contracted for the second time in four quarters. This comes as firms brace for the impact of 50 per cent US tariff on Indian goods.
'The scale and depth of talent here plays a central role in core software product engineering for some of the biggest brands in tech.'
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
... with a maximum speed of 200 megabits per second (mbps) across the country for Rs 3,000 per month.
Reliance Jio, India's biggest telecom operator, is planning to launch an initial public offering (IPO) and listing on bourses in the first half of 2026, billionaire Mukesh Ambani said on Friday. Jio is currently a unit of Reliance Industries Ltd, India's most valuable company.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
'It is a process that takes a certain amount of time and needs to be done keeping legal modalities in mind.'
The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
Experts say Indian Railways must grow its share in the freight market to remain financially sustainable.
India's top information- technology (IT) services companies, all cash-rich, have been tightfisted about ploughing back their earnings in new projects or acquisitions and the bulk of the profits have been distributed to shareholders through dividend and share buybacks. In the past 10 years (that is, excluding the current one), the firms have reinvested in growth and expansion only around 13.5 per cent of the cash flow generated from their operations.
'Employers increasingly want candidates who can take AI pilots from proof-of-concept to production-ready systems.' 'That requires governance, monitoring, and ROI measurement -- skills that go beyond coding and into business impact.'
What has surprised the industry is that the Bill has been tabled without any consultation. Critics warn the ban on real-money gaming could fuel black markets, endanger 200,000 jobs and billions in tax revenue.
'A balanced portfolio mix of domestic and international equity, fixed income, and precious metals is recommended.'
'There is responsibility to make great games that are played by audiences, that fill the gap from an entertainment perspective.'
'Shashi Tharoor is destroying the history of India.' 'He is distorting facts about the Congress party.'
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