Economy

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

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

Finance Minister Nirmala Sitharaman, in a written statement, said that the medium-term impact of global crude oil price rise on inflation would depend upon several factors

Now, CBIC has prescribed the eligibility criteria not only for manufacturers but also for traders who send imported goods to job-workers registered under the Goods and Services Tax (GST) laws

Uttarakhand's GSDP rose to ₹3.82 trillion in FY25 from ₹2.54 trillion in FY22, with higher per capita income, lower poverty levels and growth projected at 8.2 per cent for FY27

With tensions escalating in West Asia, the government is assessing possible disruptions to shipping routes and logistics as exporters warn of rising costs and wider trade risks

Govt halves Rodtep benefits to rein in rising payouts amid stagnant exports, tighter Budget allocations, while exempting agriculture and pushing exporters to improve compliance with annual returns

In absolute numbers, the net GST revenue is the third highest in the last six months after January at ₹1.70 trn and October at ₹1.69 trn

Gross GST collection increased 8.1 per cent to over Rs 1.83 lakh crore in February, led by higher growth in revenues from imports. Gross domestic revenue rose 5.3 per cent to about Rs 1.36 lakh crore, while gross import revenue climbed 17.2 per cent to Rs 47,837 crore. Total refunds were up 10.2 per cent at Rs 22,595 crore. Total net Goods and Services Tax (GST) collection stood at over Rs 1.61 lakh crore, up 7.9 per cent year-on-year. Net cess revenue was Rs 5,063 crore, down from Rs 13,481 crore in February last year.

PM Modi's visit to Israel and ongoing FTA negotiations mark a shift from transactional trade to structured, execution-led economic collaboration between India and Israel

Howard Lutnick held talks with Piyush Goyal in Delhi as tariff uncertainty persists following fresh US duties and renewed trade deal discussions

A key pillar of the new series is the improved measurement of the household and informal sectors that account for a significant share of output and employment

Under 2004-05 series, India recorded 3 straight yrs of 9%-plus growth

India's apparel exports registered a moderate growth of 1.6 per cent during April-January 2025-26 despite global headwinds and supply chain disruptions, AEPC said on Monday. Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said exports to several key markets have shown encouraging growth, including Italy (16 per cent), the UK (4.8 per cent), UAE (10.6 per cent), Saudi Arabia (18.5 per cent), Germany (8.7 per cent), and Spain (7.1 per cent). Strong performance has also been recorded in Japan, Iceland, and Australia. "Despite global headwinds, geopolitical uncertainties, and ongoing supply chain disruptions, the sector registered a moderate export growth of 1.6 per cent during AprilJanuary 2025-26 compared to the corresponding period of the previous financial year," he said. The council on Monday celebrated its 48th foundation day. Over the years, the council has consistently taken up industry concerns with the government and relevant stakeholders to promote, protect, an

Wholesale inflation rose to a 10-month high of 1.81% in January, driven by higher food and core prices, with vegetable inflation turning positive and manufactured goods showing renewed price pressures

Japan's economy expanded at an anemic 0.2% annual pace in the last quarter, the government reported Monday, with growth for all of 2025 at just 1.1%. Private consumption rose at a 0.4% annualized pace in October-December, but that was offset by a 1.1% drop in exports, the latest seasonally adjusted preliminary data show. Japan's export-reliant economy has been shaken by President Donald Trump's tariffs, but has been growing at a lackluster pace for years. Prime Minister Sanae Takaichi is expected to roll out policies to help revive the economy after a landslide victory in a general election earlier this month. Takaichi has promised to spend more and to suspend Japan's sales tax on food, among other measures. Japan's GDP contracted 0.7% in July-September, quarter-to-quarter, after growing 0.5% in April-June. Since the economy returned to growth in the latest quarter, the country narrowly avoided a technical recession, which is two straight quarters of contraction. On a quarterly ba

Former chief statistician says the revised cpi was overdue, supports excluding free pds items and sees little immediate impact on rbi policy decisions

Officials stressed that the December number under the old series and the January print are not comparable

India seeks to convene, align and anchor a shifting global order by building platforms where governments, capital and enterprise forge the partnerships shaping future prosperity

Net direct tax collections grow 9.4% to Rs 19.43 trillion till February 10 in FY26, aided by moderation in refunds, CBDT provisional data shows