Economy & Policy News

World Bank lifts India FY27 growth view to 7.1% on robust domestic demand

World Bank raises India's FY27 growth forecast to 7.1 per cent from 6.6 per cent but flags risks from high oil prices, El Niño and capital flow volatility

Monsoon deficit threatens crop output, adds to food inflation risks

India ended the southwest monsoon season with a 13 per cent rainfall deficit, with uneven distribution hurting key farm regions and raising concerns over kharif yields, rabi sowing and food prices

Flexi staffing employment rises 2.6% in Q1FY27, manufacturing leads

India's formal flexi staffing workforce reached 1.95 million in Q1FY27, up 7.5 per cent year-on-year, as manufacturing and consumer-facing sectors drove hiring

Union Cabinet approves ₹10,000 crore commitment to SME Growth Fund

The fund will provide growth capital to SMEs seeking to expand capacity, adopt technology, enter global markets, make acquisitions and join global value chains

Centre expands permissible works under VB-G RAM G by 41% over MGNREGA

The Centre has raised permissible works under VB-G RAM G to 375 from 266 under MGNREGA, adding a dedicated category for extreme weather and disaster preparedness

Proposed GST changes aim to make India's services exports more competitive

Proposed changes seek to widen the definition of services exports, ease rules around overseas branches and allow faster GST refunds through a risk-based mechanism

India's manufacturing sentiment improved in Q2FY27, shows Ficci Survey

India's manufacturing sentiment improved in Q2 FY27 with capacity utilisation rising to 75% and 95% units noting steady or higher output, says Ficci survey

Cabinet approves new body to integrate transport and logistics planning

The Union Cabinet approved setting up of a Integrated Transport & Logistics Authority to strengthen research, planning, appraisal, monitoring in the broad domains of transportation and logistics.

India services PMI rises to 55.2 in September amid demand recovery

India's services sector growth rose to a three-month high in September as new orders and international demand improved, while input-cost pressures eased to a 10-month low

RBI set for first rate hike in almost four years as rupee, inflation weigh

A hike would put the Reserve Bank of India alongside Asian peers that have already begun tightening and mark the first such move under Governor Sanjay Malhotra

GST arrests may need court nod: What it could mean for taxpayers

A proposed GST rule could shift arrest powers from tax officers to courts. Here's how GST arrests work now and what could possibly change

Govt may tap Taiwan, Singapore institutes to build chip talent pool

"The idea is to develop a steady pool of trained semiconductor engineers and shop-floor workers for allied components who can be hired directly from these institutes"

Trade negotiations with US have reached a 'plateau': FM Sitharaman

Finance Minister Nirmala Sitharaman says further concessions for either side 'very difficult'

Reforms on the cards: GST Council likely to shun mid-year rate changes

Officials expect the rate structure to be reviewed only once a year henceforth, and any changes will take effect from April 1, not in the middle of the financial year

State capex utilisation slips below last year's pace in April-August

Twenty-three states spent ₹2.4 trillion, or 21.21 per cent of their combined capex budget, in April-August FY27, slightly below 21.73 per cent a year earlier

Fewer women commute to work, spend much less than men: NSO survey

Only 41.9 per cent of women workers commute 1 km or more for work, against 61.9 per cent of men, with the gender gap in commuting widest in rural India

GST Council may give export status to clinical trials for overseas sponsors

GST Council may ease tax treatment for highway concessions, e-commerce deliveries and services between foreign shipping lines and their Indian offices

GST reforms agenda: Businesses likely to get wider motor vehicle ITC

Insurance, repairs and servicing may qualify; EVs could get matching tax treatment

GST Council may set different timelines for services, capital goods refunds

The refund for capital goods is likely to be implemented from April 1, 2027. Refunds for input services are likely to take effect this year itself, once council approves

GST Council may allow export tag for overseas contract manufacturing

Proposal seeks to address a place-of-supply anomaly by allowing export treatment for work done for overseas companies even when finished goods remain in India