Economy
Over 55 million income tax returns filed by Friday noon: IT department
The department has been urging taxpayers, particularly those eligible to file simpler forms such as ITR-1 (Sahaj) and ITR-2, to complete the process early
 "Over 55 million income tax returns filed by Friday noon: IT department")
Rising heat poses growing risk to India's economy, jobs: World Bank
The World Bank says rising temperatures are reducing labour productivity and straining infrastructure, while stronger adaptation measures could protect growth and create millions of jobs
 "Rising heat poses growing risk to India's economy, jobs: World Bank")
State capex utilisation eases in Q1FY27, remains mid-range over six years
States utilised 10.67 per cent of their FY27 capital expenditure budget in the first quarter, lower than a year ago, although absolute spending touched a six-year high
 "State capex utilisation eases in Q1FY27, remains mid-range over six years")
April-June fiscal deficit of India stood at 18.2% of 2026/27 target
Government data showed India's fiscal deficit reached Rs 3.1 trillion, or 18.2% of the FY27 target, as capital expenditure and overall spending increased in the first quarter
 "April-June fiscal deficit of India stood at 18.2% of 2026/27 target")
R&D spending in India only 0.84% of GDP in FY24, govt tells Parliament
Gross R&D spending rose to Rs 2.45 trillion in FY24, while private industry overtook the government as the largest contributor to research funding
 "R&D spending in India only 0.84% of GDP in FY24, govt tells Parliament")
Sectoral, destination shifts mark outward Indian FDI commitments in June
Shifting global supply chains are pushing more Indian firms to build a footprint abroad
 "Sectoral, destination shifts mark outward Indian FDI commitments in June")
Reliance Industries ramps up diesel exports to Europe, Brazil in July
The exports come after European diesel profit margins hit a record of $74 a barrel on Wednesday as the region's stockpiles have fallen to their lowest since 2014
 "Reliance Industries ramps up diesel exports to Europe, Brazil in July")
Investment tide turns for new Chief Ministers in first quarter of FY27
Karnataka, Kerala and West Bengal posted sharp rises in proposed investments in Q1 FY27 after leadership changes, while Tamil Nadu saw inflows plunge
 "Investment tide turns for new Chief Ministers in first quarter of FY27")
Odisha, Goa, Jharkhand top NITI Aayog's Fiscal Health Index for FY24
States now account for nearly a third of India's total government debt, says a NITI Aayog report, urging them to follow fiscal deficit norms
 "Odisha, Goa, Jharkhand top NITI Aayog's Fiscal Health Index for FY24")
Kerala in a tough position, but will keep promises, says CM V D Satheesan
Kerala plans to tackle its fiscal crisis through investments, blue economy, land reforms, diaspora funding and a silver economy, says CM V D Satheesan
 "Kerala in a tough position, but will keep promises, says CM V D Satheesan")
States are borrowing just to get by, not to build productive assets
Even prosperous southern states used a large part of FY25 debt for operational expenses
 "States are borrowing just to get by, not to build productive assets")
Tax collections slow down, pinching Centre and states' finances alike
States' own tax revenue now exceeds half of revenue receipts, but falling tax buoyancy suggests collections are not keeping pace with economic growth
 "Tax collections slow down, pinching Centre and states' finances alike")
Petroleum exports cut both ways for Gujarat as outbound trade slows
Despite topping NITI Aayog's Investor Friendliness Index, Gujarat's exports have declined for three years as falling petroleum shipments expose risks of sectoral dependence
 "Petroleum exports cut both ways for Gujarat as outbound trade slows")
States chase reforms away from limelight as deregulation gathers pace
States are accelerating deregulation and ease-of-doing-business reforms, with over three-fourths of the Centre's first-phase compliance reduction measures already implemented
 "States chase reforms away from limelight as deregulation gathers pace")
Our focus has not been limited to signing MoUs, says CM Mohan Yadav
MP Chief Minister Mohan Yadav says ₹10 trillion of proposed investments have moved to implementation as the state bets on textiles, manufacturing, tourism and renewable energy
 "Our focus has not been limited to signing MoUs, says CM Mohan Yadav")
'True measure of success will be no of industries that become operational'
Uttar Pradesh Chief Minister Yogi Adityanath outlines the roadmap to a $1 trillion economy, driven by infrastructure, manufacturing, MSMEs, exports and investment-led growth
 "'True measure of success will be no of industries that become operational'")
New states challenge industrial giants, but both have work cut out
Contenders redraw India's economic map, yet ground-level reform struggles
 "New states challenge industrial giants, but both have work cut out")
US' Section 301 tariff linked to forced labour import may not survive court
Experts say fresh US tariffs imposed under Section 301 could face legal challenges, potentially dealing another setback to President Donald Trump's trade strategy
 "US' Section 301 tariff linked to forced labour import may not survive court")
GST implementation boosted states' tax revenue, buoyancy: Ind-Ra
India Ratings says simplified taxation, stronger compliance and a wider taxpayer base have lifted states' tax collections and buoyancy since GST rollout
 "GST implementation boosted states' tax revenue, buoyancy: Ind-Ra")
UP lines up ₹6 trn investment projects, targets ₹8 trn for GBC 5.0
Uttar Pradesh has lined up projects worth ₹6 trillion for GBC 5.0 and aims to expand the pipeline to ₹8 trillion as it accelerates industrial investments
 "UP lines up ₹6 trn investment projects, targets ₹8 trn for GBC 5.0")