Economy

CAG pulls up Odisha govt for PSU dues, flags poor budget utilisation

Audit flags over Rs 5,000 crore unpaid PSU dividends and weak budget utilisation, raising concerns over fiscal oversight and revenue mobilisation in Odisha

Global risk aversion halts FPI momentum in FAR securities in FY26

In the financial year 2024-25, FPI inflows were supported by phased entry into JPMorgan's Government Bond - Emerging Market Index (GBO-EM)

States spend just 55% of annual capex target by February: CAG data

Twenty-two states spend just over half of their FY26 capex target by February, lagging behind the Centre, while revenue spending and tax collections show steadier progress

Datanomics: Ethanol push gains ground; dependence on oil imports persists

India's E20 fuel rollout boosts ethanol blending, but rising fuel demand keeps crude import dependence high, raising questions on its impact on energy security

Cameroon meet shows WTO's relevance: Commerce secy Rajesh Agrawal

A key area where member nations could not agree on was the moratorium on Customs duty on ecommerce

Increasing AI adoption puts humanities and critical thinking back in focus

As generative AI reshapes knowledge and decision-making, the humanities face both renewed relevance and existential pressure, raising urgent questions for universities and critical thinking

Chatroom: 'Absolute Confiscation' need not lead only to destruction'

Absolute confiscation vests goods with govt but disposal may include auction, sale or destruction; overvaluation attracts penalties under customs act, while GST export lapses trigger tax liability

Shipbuilding ties to be in focus during South Korea President's visit

India and South Korea to prioritise shipbuilding cooperation during Lee Jae Myung's visit, alongside talks on semiconductors and small modular reactors

Govt extends piped gas drive; over 310,000 new connections added

India adds over 3.1 lakh PNG connections in March as government extends drive to boost adoption amid LPG supply concerns and expand gas network coverage

Delhi Budget FY27 hikes capital outlay, but lags as share of GSDP

Delhi's FY27 Budget raises capital outlay and green spending, but capex remains below 1 per cent of GSDP, even as revenue surplus strengthens and fiscal deficit stays within limits

Bombay High Court halts GST action on 18% hotel restaurant levy

Court continues interim relief, stays show-cause notice in case challenging 18% GST rate on restaurants in high-tariff hotels, with hearing slated for June

Coal demand rises in India as West Asia crisis disrupts gas supply

Coal demand in India is rising as the West Asia crisis disrupts gas supplies, prompting higher auctions by Coal India and pushing industries to reconsider fuel choices amid tightening energy markets

India's first Iranian oil cargo since 2019 headed to Gujarat coast

Indian refiners have been looking to purchase a few cargoes of Iranian oil on water following the recent sanctions waiver by Washington

CBIC removes ₹10 lakh cap on courier exports to boost e-commerce trade

Move to boost e-commerce exports and ease logistics as CBIC rolls out wider reforms, including faster clearances and simplified return mechanisms

CBDT issues revised DIN norms, replaces 2019 circular on tax notices

New guidelines introduce flexibility in quoting DIN in tax communications while ensuring traceability and reducing litigation over procedural lapses

RBI extends export credit window till June 30 amid West Asia disruptions

Central bank extends 450-day export credit facility for disbursals till June 30 to ease cash flow pressures amid disruptions caused by West Asia conflict

Income Tax Dept signs record 219 advance pricing agreements in FY26

With this the total APAs signed so far stood at 1,034

Govt notifies Finance Act 2026, gives effect to changes in tax provisions

This Act gives effect to financial proposals of the central government for 2026-27, a gazette notification dated March 30 issued by the Ministry of Law and Justice said

Income Tax department notifies all seven ITR forms for AY 2026-27

With the ITR (income tax return) notification, individuals, businesses and other entities can start filing I-T returns for the income earned in the financial year 2025-26

Indian business delegation visits China, explores ties after 5 year hiatus

This is first Indian trade delegation to visit China after the two countries normalised bilateral relations last year, after over five years of hiatus following the 2020 military standoff in Ladakh