Economy

Maharashtra on track to contribute $1.5 tn to India's GDP: Dy CM Shinde

Deputy CM Eknath Shinde says Maharashtra is on track to contribute $1.5 trillion to India's GDP as infrastructure expansion and investment drive the state's growth

Parliamentary committee flags rising delays in income tax refunds

Finance panel notes rising delays in income tax refunds beyond the 90-day norm and flags a surge in outstanding direct tax arrears

New truncated gas allocation regime still faces a large LNG shortfall

India's new gas rationing regime may still fall short as LNG supplies shrink after the Strait of Hormuz closure, leaving a widening gap between demand and imports

Iran strikes keep markets on tenterhooks as West Asia conflict escalates

Since the conflict began, Sensex has fallen 6.5% and Nifty 6.1%

US starts tariff investigation against India and 15 other countries

USTR opens Section 301 investigations into 16 economies, including India, over excess manufacturing capacity that Washington says undermines US industrial revival

Extended stay of Indians back from W Asia may trigger tax implications

Under the Income-tax Act, residential status is primarily determined by the number of days an individual spends in India during a financial year

India dials Iran for safe transit of its vessels through Strait of Hormuz

Government engages Tehran to ensure safe transit for Indian-flagged vessels amid West Asia conflict as concerns mount over oil, gas and fertiliser supplies

New I-T Act to roll out on April 1 with only 54 forms for smooth transition

India will roll out the new Income-tax Act, 2025 from April 1 with 54 forms operational initially, while the rest will be introduced in phases during FY27

Retail inflation rose to 3.2% in Feb on higher food, precious metal prices

India's retail inflation rose to an 11-month high of 3.21% in February as food prices and precious metals gained

Tiruppur picks up the threads, but West Asia war tugs at its fabric

US tariff relief restarts Dollar Town's knitting machines, revives stalled exports, yet the Iran curveball threatens to fray town's delicate recovery

February retail inflation rises to 3.21% from 2.74% in Jan on new series

CPI inflation increased by 47 basis points year-on-year in February, data showed

Stainless steel industry to push for separate policy in meeting with govt

Industry body to seek higher import duty, safeguard measures and life-cycle cost analysis in infrastructure procurement as it pushes for a dedicated national policy for stainless steel

Aluminium industry seeks exemption from 50% RoDTEP rate cut on exports

Industry body urges DGFT to exclude aluminium products from 50% RoDTEP rate reduction, citing rising tariff barriers, shrinking export opportunities and growing global competition

Oil reserve release had 'strong impact' on energy markets: IEA head

IEA's record 400-million-barrel reserve release aims to stabilise global oil markets after the Strait of Hormuz closure triggered one of the biggest energy shocks in decades

How persistently high oil prices could impact India's vulnerable economy

The most immediate impact would be on India's current account deficit. This concern has pushed the rupee to a record low and forced the central bank to sell dollars from its reserves

Govt plans new smartphone export incentives in a boost for Apple, Samsung

The policy design, size of the incentives and the overall budget are still being finalised and may change during the inter-ministerial consultations

Cooking gas crunch in India fuels inflation fear as Iran war widens

The gas crunch is rippling through the economy, raising fears about a spike in prices and a drop in output in some sectors

Trump admin launches trade probes into 16 nations including India, China

The US has launched fresh trade investigations into 16 major trading partners, including India, under Section 301 of the Trade Act of 1974, after the SC struck down much of Trump's tariff programme

Don't panic, fuel cargoes on the way, says govt as supplies tighten

India will soon receive two cargoes each of crude oil and LNG via routes bypassing the Strait of Hormuz as refiners boost LPG production to ease supply pressures

Niti Aayog urges states to follow fiscal deficit norms under FRBM Act

The Fiscal Responsibility and Budget Management (FRBM) Act aims to regulate the country's debt level by restricting fiscal and revenue deficits as a percentage of GDP