'Nearly two-thirds of Maharashtra has been drought-prone on and off, and climate change is making it worse.'
Chinese President Xi Jinping concluded his three-day visit to the US, stating that his discussions with President Donald Trump had injected "new substance" into the China-US relationship. Both leaders expressed optimism for future cooperation, with agreements reached on certain trade goods and discussions held on AI capabilities.
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.
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.
Iranian President Masoud Pezeshkian arrived in New Delhi for the BRICS summit, where he is scheduled to hold bilateral talks with Prime Minister Narendra Modi to enhance trade and strengthen overall relations. His visit is particularly significant given the heightened tensions in West Asia and recent US economic sanctions against Iran. Pezeshkian highlighted BRICS' role in fostering economic resilience and reducing dependence on the US dollar, while the summit itself aims to address global challenges and bolster collective resilience in critical sectors.
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.
Hindustan Copper Limited CMD Anupam Misra spoke at the 85th CSIR Foundation Day, advocating for workplace safety, employee welfare, and scientific excellence. He stressed the importance of continuous learning, innovation, and bridging research with industrial applications to support Viksit Bharat 2047. CSIR-NML Director Dr. Sandip Ghosh Chowdhury also highlighted CSIR's legacy and its role in India's technological self-reliance.
The Indian corporate sector demonstrated strong credit quality in the first half of FY27, driven by robust balance sheets and healthy liquidity, despite facing risks from elevated crude prices, inflation, and global interest rates.
After a significant 9.9% depreciation in FY26, the Indian rupee has shown comparative stability in the first half of FY27, depreciating by only 1.1%, attributed to regulatory interventions and measures to attract foreign capital, despite ongoing global pressures from rising crude oil prices and foreign investor outflows.
Data infrastructure company NetApp has introduced Novus, a new storage architecture designed for large-scale AI factories, alongside significant enhancements to its AI Data Engine, hybrid multi-cloud operations, and strategic partnerships with Nutanix and SAP. These initiatives aim to improve data management, security, and efficiency for AI workloads and enterprise cloud infrastructure.
India's milk supply is struggling to keep pace with rising demand as heat, fodder shortages and low animal productivity threaten dairy production.
The US rejected Iran's proposal to reopen the Strait of Hormuz, citing Tehran's demands for sanctions relief and access to frozen assets before nuclear program negotiations. US Ambassador Mike Waltz called the offer a "cynical attempt," while Iranian Foreign Minister Seyyed Abbas Araghchi disputed Waltz's account and reiterated Iran's readiness for both diplomacy and renewed hostilities. President Trump expressed confidence in winning the conflict soon and keeping all options, including military strikes, on the table, with denying Iran a nuclear weapon as the primary objective.
Not a single retail outlet ran dry. Every household that wanted a cylinder got one. India faced neither a 1991 moment nor a 2013 one. Macroeconomic stability held. This was not an accident, and it was not luck alone. It was the work of a government that chose to act as it had during the pandemic -- deliberately and gradually, building one measure upon another rather than reaching for a single dramatic lever, explains V Anantha Nageswaran, chief economic advisor to the Government of India.
There are only bad and worse options before him, points out Aakar Patel.
For India, the goal is not simply to host another grand diplomatic gathering. It is to prove that a diverse coalition of emerging powers can still deliver.
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.
Delhi Police detained several anti-reservation protesters at Jantar Mantar who were demanding that economic criteria be prioritised over caste for government support and reservation. The protest, mobilised via social media by 'Reservation Hatao Andolan', proceeded despite police denying permission for Jantar Mantar and offering Ramlila Ground as an alternative venue. Demonstrators called for a review of the existing reservation system and the introduction of a creamy-layer criterion.
Bangladesh-China and Bangladesh-US relations have evolved from reluctant engagement to increasingly consequential strategic partnerships.
'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.'
Economists widely anticipate the Reserve Bank of India's Monetary Policy Committee will increase the repo rate by 50 basis points, likely split between the October and December meetings, as retail inflation is projected to peak at 6.1 per cent in the third quarter, exceeding the RBI's tolerance limit.
BRICS members have expressed 'serious concerns' over the unilateral imposition of trade and finance-related measures, including higher tariffs and non-tariff barriers, stating these actions distort trade and are inconsistent with WTO rules. The grouping also highlighted elevated risks to the global economic outlook due to geopolitical tensions, trade fragmentation, and protectionism.
Former NITI Aayog vice-chairman Rajiv Kumar has urged the government to maintain zero-fee UPI transactions for several more years, arguing that the benefits of UPI as a public good outweigh the costs. This comes amidst the government's recent decision to introduce a 0.4% fee on person-to-merchant UPI transactions above Rs 2,000 from October 15, a move that has drawn criticism.
Maintaining that the economic policy of the United Progressive Alliance government has failed, the Communist Party of 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.
It is hard to dispute the potency of myths in economic policy-making.
The Airports Economic Regulatory Authority (AERA) has waived landing charges for international flights at the Navi Mumbai International Airport for one year, with phased discounts for subsequent years. This move aims to incentivise airlines to establish new international routes from the airport, modifying previous criteria that linked waivers to the broader Mumbai Metropolitan Region.
New photographic evidence and a Pentagon inspector general's report confirm extensive damage to US military installations across the Middle East due to Iranian missile and drone strikes. The report details billions in financial costs, structural losses to hundreds of buildings, and damage to dozens of aircraft, contradicting previous assertions about US military readiness and ordnance stockpiles. The conflict also led to disruptions in the Strait of Hormuz, impacting global oil prices.
S&P Global Ratings has affirmed India's sovereign credit rating at 'BBB' with a stable outlook, citing the country's dynamic and fast-growing economy, strong external balance sheet, and stable institutions that ensure policy predictability.
Fintech company BharatPe has expressed strong support for the government's new Merchant Discount Rate (MDR) framework for UPI merchant transactions, which introduces a 0.4% fee on transfers exceeding Rs 2,000. The company explicitly distanced itself from critical remarks made by its former co-founder Ashneer Grover, clarifying that his views do not represent BharatPe's stance. BharatPe CEO Nalin Negi highlighted that the framework aims to strengthen digital payment economics, protect consumers and small merchants, and expand adoption in underserved markets, with most transactions remaining unaffected.
Analysts predict that developments in the West Asia conflict, crude oil prices, and upcoming US inflation data will be the primary factors influencing the Indian stock market next week, alongside foreign investor activity and global market trends.
Launching an attack on the economic policies of the UPA government, Narendra Modi on Wednesday said the main reason behind the "despair" prevailing in the country was that nobody takes responsibility.
Prime Minister Narendra Modi, addressing the BRICS summit, called for a fundamental shift in global governance, advocating for the replacement of the current 'pyramid of privilege' with a 'platform of partnership' where the Global South becomes a 'rule shaper' rather than a 'rule follower'.
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.
BRICS finance ministers and central bank governors have called for increased representation of emerging-market and developing economies in the IMF and World Bank, while also criticising unilateral tariffs and trade measures, as the expanded bloc aims to bolster financial cooperation amidst global fragmentation.
NPCI chief Dilip Asbe stated that only about 10 per cent of the total value of UPI transactions might see charges passed to consumers under the merchant discount rate (MDR). He clarified that large corporates are expected to absorb most costs, and a significant portion of transactions will remain charge-free. A new fund from MDR collection is also proposed to boost UPI acceptance among small merchants.
NPCI chief Dilip Asbe stated that only about 10% of UPI transaction value might see charges passed to consumers, primarily from large corporates already absorbing credit card fees. He highlighted that 80% of Merchant Discount Rate (MDR) would come from businesses with over Rs 1,000 crore turnover, and a significant portion of transactions will remain charge-free. A new fund, potentially Rs 3,000 crore, will also be created from MDR collection to support small merchants and accelerate UPI acceptance.
The Indian government has made Bureau of Indian Standards (BIS) certification compulsory for smartphone screen protectors, effective April 1, 2027. This move aims to ensure product quality, curb low-quality imports, and significantly boost domestic manufacturing, creating a substantial industry and job opportunities.
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.
The Indian rupee experienced its sharpest single-day decline in eight weeks, settling at 94.83 per dollar, primarily due to escalating crude oil prices and persistent risk-off sentiment driven by heightened geopolitical tensions and limited foreign inflows.
Louisiana Governor Bobby Jindal, who is widely perceived as the Republican candidate for presidency in 2012, on Tuesday slammed the economic policies outlined by United States President Barack Obama in his first speech to a joint session of the US Congress.The Louisiana governor added that even though his party opposed the economic policies of the Democrats, the Republicans would work with President Obama to help the country overcome the staggering economic crisis.
