Economy

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

States vie for a bigger share of domestic tourism boom amid festival travel

States are stepping up campaigns, tourism circuits and private partnerships to attract domestic travellers, as expensive overseas holidays encourage Indians to explore destinations closer to home

Gold pulls forex reserves down for seventh straight week to $719.8 billion

India's foreign exchange reserves declined $1.3 billion to $719.8 billion in the week ended October 23 as a $2.7 billion fall in gold reserves offset gains in foreign currency assets

FTAs to open $85 trillion market; traders need to expand footprint: Goyal

India's existing and proposed trade agreements could provide access to markets with a combined GDP of $85 trillion, the commerce minister says

Centre's fiscal deficit widens to 42% of FY27 target in H1: CGA data

The Centre's fiscal deficit rose nearly 25 per cent YoY to Rs 7.14 trillion in H1FY27 as tax collections slowed, while higher expenditure raised concerns over meeting the FY27 target

Odisha eyes semiconductor push with five projects worth over $4 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

FM cites World Bank poverty gains, says govt committed to inclusive growth

Citing World Bank data, Sitharaman said 496 million people moved above the $4.20-a-day poverty line between 2011-12 and 2023-24, reaffirming the government's focus on inclusive growth.

India forex reserves fall $1.27 bn to $719.75 bn as gold holdings dip

India's forex reserves fell by $1.27 billion to $719.75 billion in the week ended October 23, as a $2.65 billion decline in gold reserves outweighed gains in foreign currency assets.

Centre's fiscal deficit at ₹7.15 trillion in Apr-Sep, 42.1% of FY27 target

India's fiscal deficit rose from ₹5.7 trillion in April-September FY26 to ₹7.14 trillion in the first half of FY27, while capital expenditure increased to ₹6.5 trillion, according to government data

Cabinet approves ₹10,000 cr container manufacturing scheme: Why it matters

The scheme aims to raise India's annual container manufacturing capacity nearly tenfold to 750,000 TEUs, create jobs and reduce reliance on imports

Less-educated women drove India's female workforce growth: Icrier

A new Icrier report found that women with lower levels of education drove female workforce growth, while household responsibilities and wage gaps continued to shape women's employment across sectors

Centre notifies National Social Security Board for gig, platform workers

Established under the statutory framework of the Code on Social Security, this marks a historic shift by integrating digital gig and platform professionals into India's formal welfare architecture