Economy

Govt weighing two models to offset UPI costs: FinMin tells Parl panel

Restoring MDR for high-threshold transactions/merchants; or a tiered incentive structure

CAG flags ₹401 cr GST lapses in works contracts; revenue dept accepts

The CBIC accepted observations in 903 of the 1,334 cases detected by the auditor, involving Rs 268.36 crore, and has recovered Rs 15.88 crore so far.

Evolving West Asia crisis may have fiscal impact in FY27: FinMin to panel

The ministry said its fiscal consolidation path and Rs 1 trillion stabilisation fund provide room to absorb mild shocks, but sustained oil-price increases pose risks

India, South Africa-led group to begin trade pact talks in a month

The proposed preferential trade agreement will initially cover goods, with India and the five-member customs union aiming to conclude negotiations within a year

Brics face constraints in mobilising private capital at scale: Sitharaman

The finance minister said public funds should catalyse private investment, while stable policy frameworks and multilateral institutions must help reduce investment risks

NITI's state-led emigration roadmap faces questions over law, execution

Experts back stronger state participation in overseas skilling, worker support. Emigration remains a Central topic, requiring clear legal boundaries, institutional capacity, Centre-state coordination

Retail inflation breaches RBI's median target again to hit 4.45% in July

India's retail inflation rose to 4.45% in July, driven by higher food prices, while economists expect no immediate RBI rate hike despite rising upside risks

India exports first gasoline cargo to Russia as refinery outages mount

The shipment of around 350,000 barrels arrived on August 5, while two more cargoes are expected by month-end as attacks on Russian energy infrastructure disrupt refining

Andhra Pradesh tops job, SHG targets but badly trails on housing and roads

The state exceeded employment and self-help group targets under the Twenty Point Programme but achieved barely a third of its rural housing and road goals in FY26

Tier-II, III cities account for over half of forex demand: Thomas Cook

Thomas Cook's report shows smaller cities driving forex demand as young travellers adopt digital channels and buyers increasingly opt for destination-specific currencies.

India's inflation rises to 4.45%, but unlikely to shift RBI rate outlook

India's retail inflation rose for a second straight month above the RBI's 4% target in July, but remained within the central bank's 2-6% tolerance band.

July retail inflation marginally rises to 4.45% on higher food prices

Rural food inflation stood at 5.79 per cent, while urban food inflation was 5.05 per cent; this was higher than 5.45 per cent and 5.09 per cent, respectively, in June

Institutionalising behavioural econ norms can reshape governance: NITI VC

Institutionalising the principle of behavioural economics can make governance more citizen-centric, outcome-oriented and fiscally efficient, Niti Aayog Vice Chairperson Ashok Lahiri said at an event.

Temporary hiring likely to rise 15-20% this festive season: Report

Hiring across organised retail, e-commerce, quick commerce, logistics, FMCG and consumer durables is expected to grow this festive season

Explained: What is a cess and how states use it for welfare purposes

Himachal Pradesh's widow and orphan cess on fuel has brought purpose-specific levies into focus. Here's what a cess is and how states use such levies for welfare needs

Exports up about 15% in Apr-Jul despite global uncertainties: Piyush Goyal

The final exports and import numbers for July will be released on August 13

NITI Aayog spent only 25% of FY26 Budget allocation for Atal Mission

The Ministry cited the need for "fresh due diligence" of beneficiaries as the reason for the under-utilisation - an explanation the Committee was unconvinced by

Rural jobs fall in VB-G RAM-G's first month, Centre cites sowing pause

July persondays fell sharply from MGNREGA levels, but the Centre cites sowing pauses, monsoon recovery and transition issues, while experts say one month is too early to judge

Fitch affirms India's BBB- sovereign rating, retains stable outlook

The rating agency expects India's economy to grow 6.4 per cent in FY27 but flagged high government debt, weak fiscal metrics and lagging structural indicators

Oil-and-gas PSUs see first Q1 capex decline in at least five years

Combined capital expenditure by 12 oil and gas PSUs fell 3.8 per cent to Rs 27,161 crore in Q1FY27, led by sharp declines at ONGC and Indian Oil, though experts see the dip as temporary