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Mcap of 8 of top-10 most valued firms surges ₹1.21 lakh crore; Reliance biggest winner

The market valuation of Reliance Industries jumped ₹53,652.92 crore to ₹20,65,197.60 crore




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Government claim of eight crore new jobs is data jugglery, says Congress

Centre included even unpaid household work in its employment data, says Jairam Ramesh




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Govt. extends deadline for filing Income Tax audit report to October 7

The I-T Department said that due to the difficulties faced by taxpayers in electronic filing of audit reports, the deadline is being extended from September 30, 2024 to October 7, 2024




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India’s current account deficit in Q1 FY25 widens to $9.7 billion

The current account surplus for Q4:2023-24 was revised downwards to $ 4.6 billion from US$ 5.7 billion earlier due to an upward adjustment of customs data on merchandise imports, the RBI said.




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For the first time in 42 months, core sectors’ output tanked in August

Six of eight infrastructure segments witnessed a year-on-year contraction in production, while fertilizers and steel output grew at a milder pace than July




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Centre decides to maintain status quo of return on small savings scheme

The interest rates on small savings schemes such as Public Provident Fund (PPF) and National Savings Certificate (NSC) are reset each quarter




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Fiscal deficit in April-August at 27% of full-year target: Govt data

In absolute terms, the fiscal deficit was at ₹4,35,176 crore as of August-end




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TAFE files contempt petition against AGCO over Massey Ferguson brand




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SEBI tightens noose on insider trading




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Fed Chair Powell says U.S. economy is in 'solid shape' with more rate cuts coming




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GST revenue growth slowed in September

Gross revenues rose 6.5%, while net receipts were 3.9% higher than last September; seven States record a contraction while revenues were flat in Gujarat




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Government picks three new members to join RBI’s Monetary Policy Committee

The new members are Ram Singh, Saugata Bhattacharya and Nagesh Kumar. They have been appointed for a period of four years.




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Maruti, Hyundai, Tata Motors report decline in wholesales in September

Mahindra & Mahindra said its SUV wholesales in the domestic market increased 24% to 51,062 units in September compared to the same month of last year




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SEBI to take measure for F&O segment soon; calls for tax breaks on municipal bonds

The regulator will make a case for a tax break for municipal bonds during a meeting with the finance commission




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Working with MCA to roll out PM Internship Scheme: CII

The MCA has also launched a dedicated, user-centric portal for the scheme, which will serve as a centralised hub and a link between the companies and the aspiring interns




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Rate cut hopes: at least one new MPC member a dove




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Gold cools, oil surges amid escalating tensions in West Asia




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Every daily wager in Odisha wants to be identified as a construction worker

More than 42.66 lakh people registered as construction workers to avail benefits from the buildings and construction welfare board of the State. But experts believe the construction sector of Odisha is not large enough to accommodate such a large labour force




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No rethink on FDI curbs in multi-brand retail sector: Piyush Goyal

Piyush Goyal said there will be no rethink on the Foreign Direct Investment (FDI) curbs in the multi-brand retail sector.




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India, U.S. exploring combined engagement with third countries to source minerals: Piyush Goyal

Piyush Goyal said that critical minerals figured in his official parleys with U.S. Commerce Secretary Gina Raimondo on Thursday.




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OPEC+ could cushion Iran oil shock but not a broader disruption

OPEC and the U.S. can help ease oil prices in case there is disruption in supply due to a full-blown conflict between Israel and Iran; while OPEC has enough spare capacity to compensate for the loss of Iranian supplies, much of that capacity is in the Gulf region and potentially vulnerable to attack




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India to see steepest rise in living standard of common man in coming decades: FM Nirmala Sitharaman

Addressing the 3rd edition of Kautiliya Economic Conclave here, the Minister said, India's critical economic performance in the recent decade was underscored by its leapfrog from the 10th to the fifth largest economy in five years.




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Govt grants one-year extension to RBI Deputy Governor Rajeshwar Rao

Rao was appointed as RBI Deputy Governor in October 2020 for a period of three years




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Public inputs sought for Income Tax Act review

These ideas may be taken up by an internal committee of the Income Tax Department that has been formed to oversee the review of the 1961 law.




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RBI projects 7.2% GDP growth for FY25, CPI inflation to moderate at 4.5%

According to RBI Governor Shaktikanta Das, growth for the fiscal year will be supported by robust quarterly performances.




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India plays crucial geopolitical role from American standpoint: USISPF president Mukesh Aghi

“The economic growth story of India is tremendous. India is among very few large economies which are growing 7-8%,” Mukesh Aghi said




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Can India escape middle-income trap?

How does the World Bank define the threshold for middle-income economies? Why is state intervention considered crucial for breaking the middle-income trap? What lessons can be drawn from South Korea and Chile? What challenges does India face in balancing state intervention with democratic values?




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RBI asks banks to ensure easier accessibility for payment systems to persons with disabilities

RBI instructs banks to review payment systems for accessibility to persons with disabilities, ensuring digital payment inclusivity




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India’s forex kitty drops by $3.71 billion to $701.176 billion

In the previous reporting week, the reserves had jumped by $12.588 billion to an all-time high of $704.885 billion.




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Net direct tax collection grows 18% to ₹11.25 lakh cr

The income tax department had collected ₹9.51 lakh crore during the same period a year ago.




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China’s Finance Minister Lan says there is room for more economic stimulus; but offers no plan

“There are other policy tools that are being discussed that are still in the pipeline,” Chinese Finance Minister Lan said, adding that there is “ample room” in the budget




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Wholesale food prices surged at two-year high pace of 9.5% in September

Fuel and power costs dropped over 4% last month, while manufactured product prices rose just 1%, reining in overall wholesale inflation pace to 1.84% from 1.3% in August




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Indian conglomerates to spend $800 billion in new projects in 10 years: S&P Global Ratings’ report 

“The Vedanta, Tata, Adani, Reliance and JSW groups alone are prepping about $350 billion of investment in these sectors over the next decade,” Neel Gopalakrishnan of S&P Global Ratings said




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36% surge in vegetable prices lifts September inflation to 9-month high

Retail inflation touches nine-month high of 5.5% in September




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Economics Nobel Winners 2024 and their studies on ‘how institutions are formed and affect prosperity’

Daron Acemoglu and Simon Johnson are professors at the Massachusetts Institute of Technology while James Robinson is based at the Harris School of Public Policy and Department of Political Science at the University of Chicago.




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A Nobel prize for explaining why nations fail or succeed

The 2024 Economics Nobel laureates have argued that differences in the quality of economic and political institutions is what best explains the divergence in the economic fates of countries




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Dearness Allowance hiked by 3% for Central Government employees ahead of Deepavali

The government had last hiked Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners on March 8




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India’s logistics cost will come down to single-digit percentage in two years: Gadkari

According to quick estimates of the economic think tank National Council of Applied Economic Research (NCAER), logistics costs in India ranged between 7.8% to 8.9% of GDP for the fiscal 2021-22




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Insurance benefits to stay for EPFO subscribers

The minimum and maximum benefits under the Employees’ Deposit Linked Insurance Scheme were enhanced from ₹1.5 lakh and ₹6 lakh to ₹2.5 lakh and ₹7 lakh respectively in 2021 and the benefits were valid for a period of three years, which came to an end on April 27, 2024.




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'India's growth rate among the shiniest parts of the world economy': Ajay Banga

A lot of that growth is in India, is driven by the domestic market as well, which actually is a healthy sign, in some ways, says World Bank president Ajay Banga




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China's economy grew 4.6% in July-September quarter, falling short of 5% target

The latest data show the world's second largest economy slowing from 4.7% annual growth in the previous quarter and falling short of the official target of “about 5%” growth for 2024,




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RBI maintains tight vigil on financial market and takes action when necessary, says RBI Governor Shaktikanta Das

The RBI Governor said that the central bank does not act like a policeman.




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GoM decides to cut GST on 20-litre water bottles, bicycles to 5%; raise rate on shoes, watches

The Group of Ministers on GST rate on life and health insurance decided to exempt GST on premiums paid for health insurance with coverage of ₹5 lakh for individuals other than senior citizens; final decision to be taken by the GST Council




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Market capitalisation of four of top-10 valued firms jumps ₹81,151 crore; ICICI, HDFC Bank biggest gainers

Reliance Industries continued to remain the most-valued domestic firm, followed by TCS, HDFC Bank, Bharti Airtel




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India well positioned to capitalise on new growth opportunities: Nirmala Sitharaman

Nirmala Sitharaman said that India is looking towards boosting domestic capacities, and building resilience against external shocks




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IMF maintains India’s growth projection at 7% for FY25

The growth rate projection is 6.5% in the next fiscal year (FY2025-26)




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India scraps export tax on parboiled rice to boost exports

Bigger rice shipments from India would beef up overall global supplies and soften international prices




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The job crisis undermines state legitimacy

Unemployment is not merely an economic issue, but a fundamental political challenge that strikes at the heart of how we organise our societies




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India wouldn't be fastest-growing economy if people hadn't utilized digital infrastructure: Nirmala Sitharaman

Nirmala Sitharaman highlighted that providing free digital access to the public, coupled with extensive campaigns and awareness programs in local languages, helped people across the country embrace technology




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Centre re-starts retail sale of pulses as prices rise ahead of festivals

Direct interventions through retail sale of basic food items such as rice, atta, dal and onion have helped maintain a stable price regime, Union Consumer Affairs and Food Minister Pralhad Joshi said