Economy

Retail e-invoicing pilot likely from April 2027 to improve GST compliance

GST authorities plan to test electronic recording of consumer invoices in select sectors from April 2027, aiming to track retail sales, improve compliance and curb tax evasion

Companies pessimistic about economy, bullish on business: IMA India survey

IMA India's Q3FY27 survey shows business confidence falling as economic sentiment weakens, even as companies grow more optimistic about profitability, investment and hiring

More women at work in India, but on worse terms, says Icrier study

An Icrier study finds that India's women workforce nearly doubled between 2017-18 and 2025, but gains were concentrated in insecure jobs, with shorter hours and a wider pay gap

RBI's net short dollar forward position hits record $239.2 bn in September

RBI's net short dollar forward position rose from $200.06 billion in August to $239.2 billion in September, driven by FCNR(B) swaps, as forward premiums climbed sharply in October

Net GST collections rise 25.6% to ₹2.03 trillion, fastest growth in FY27

Gross GST mopup too recorded its fastest growth in 2026-27, rising 22.9 per cent annually to Rs 2.31 trillion

Quanshium AI Core develops indigenous quantum-secure drone technology

Odisha-based start-up Quanshium AI Core has tested a quantum-secure drone communication link over 10 km using indigenous QRNG and post-quantum encryption technologies

Odisha eyes semiconductor push with five projects worth over $4.7 billion

The state aims to build a semiconductor and advanced electronics ecosystem, with projects spanning chip fabrication and 3D packaging, alongside investments in AI infrastructure

Gross GST collections rise 23% to ₹2.31 trillion in October on strong sales

Gross GST collections from domestic sales rose 16 per cent to over ₹1.59 trillion, and revenues from imports climbed 42 per cent to ₹72,246 crore

Commercial LPG rates increase by ₹10, ATF prices up by ₹1.37 per litre

This is the fourth straight monthly increase in jet fuel (ATF) prices, necessitated by firming rates of international benchmarks

Record oil imports reflect strong refinery runs, flexible Russian buying

West Asian supplies accounted for about 2.3 million barrels per day, and Russian crude flows remained strong at around 2 million bpd

Govt raises export duty on diesel, aviation fuel; scraps petrol levy

Diesel export duty rises by ₹3 to ₹11.50 per litre, while the ATF levy increases to ₹11 per litre; the ₹2.50 duty on petrol exports has been withdrawn

Govt releases extra ₹1.09-trillion tax devolution tranche to states in Oct

The central government usually releases funds as tax devolution to states in 14 instalments a year and uses its own discretion to pick the months for double devolution

Centre releases addl instalment of tax devolution of ₹1.09 trn to states

This is in addition to the regular monthly devolution and the second additional instalment this financial year

GST reforms from Nov 1: Faster refunds, easier registration for sellers

The 57th GST Council meeting on October 8 approved a host of reforms in GST processes, primarily covering registration, returns, refund and adjudication

Govt extends customs duty exemption on cotton imports up to Dec 31

In May, the government had exempted cotton imports from customs duties for five months, till October 31, 2026

Govt raises windfall tax on diesel by ₹3, ATF by 50 paise per litre

Duty on petrol exports has been slashed to nil, from ₹2.5 per litre, for the next fortnight

Centre sets up panel to improve uptake of RELIEF scheme for exporters

RELIEF (Resilience and Logistics Intervention for Export Facilitation) is an initiative of the government launched under the Rs 25,060-crore Export Promotion Mission (EPM)

Govt to meet liquor firms as bulk Scotch tariff row threatens UK trade pact

The ministry did not immediately respond to a request for comment outside regular business hours on Saturday

UK minister calls for speedier India-UK healthcare innovation, adoption

UK Health Minister said India's digital innovation and large-scale delivery capabilities, combined with Britain's research strengths, could help take healthcare breakthroughs to patients at scale

India heads for record crude imports in October as refiners secure supplies

Freight rates have dropped now compared to September, offering some relief to Indian refiners, but they still constitute a quarter of the cargo cost compared to less than 5 percent prior to the war