Economy

India's forex reserves dropped USD 7.052 billion to USD 709.759 billion during the week ended March 13, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped USD 11.683 billion to USD 716.81 billion. The kitty had expanded to an all-time high of USD 725.727 billion during the week ended February 13 this year. For the week ended March 13, foreign currency assets, a major component of the reserves, fell USD 7.678 billion to USD 555.568 billion, the data released by the central bank showed. Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. Value of gold reserves increased USD 664 million to USD 130.681 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down USD 23 million to USD 18.697 billion, the apex bank said. India's reserve position with the IMF was also down by USD 15 millio

Companies must disclose exposure to Pillar Two income taxes under revised AS 22, while small and medium-sized firms are exempt from the new requirements

Mospi bulletins highlight gains in sanitation, electrification and inequality reduction as India aligns economic expansion with environmental sustainability under SDG framework

Experts explain insurance limits on cargo delays due to war disruptions, clarify DGFT export schemes for large firms, and decode the Supreme Court ruling on DEEC benefits and licence validity

Factory-gate inflation rises to an 11-month high in February, driven by higher prices of primary goods and manufactured products, while fuel and power remain in deflation

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