Economy

US, Japan urge India to address export restrictions in farm sector

The US and Japan urged India at the WTO to ease agricultural export restrictions, improve trade predictability and address non-tariff barriers during its Trade Policy Review

Govt plans bigger role for states; export strategy shifts beyond incentives

The Centre plans to strengthen exports by tackling logistics, certification, branding and market access while involving states more closely in export promotion

GST ITC fraud detections jump to ₹74,782 cr in FY26; cases more than double

Central tax authorities detected ITC fraud worth Rs 74,781.56 crore across 30,162 cases in FY26 as analytics, biometric checks and enforcement measures strengthened detection

India's industrial output growth at 23-month high of 7.3% in June

Manufacturing output growth witnessed a sharp uptick during the month, accounting for most of the improvement over May

Infrastructure projects see cost overrun of ₹4.92 trillion: Mospi

Infrastructure projects worth above Rs 150 crore each registered a cumulative cost overrun of around Rs 4.92 trillion, according to a monthly government report for June 2026

India faces 'stagflationary shock' amid upside risks to food prices: BMI

The Fitch Solutions unit says higher food prices could push up inflation and curb GDP growth as El Niño and West Asia tensions threaten agricultural output and input costs

Industry seeks 3-month extension for GST e-way bill changes from August 1

Trade bodies urge the finance ministry to defer GSTN's e-way bill changes, citing technology upgrades, testing needs and concerns over commercial confidentiality

No assessment on whether higher tobacco taxes hurt farmers' incomes: Govt

The government told Parliament it has no assessment on whether higher tobacco taxes hurt farmers' incomes, while citing higher exports, better prices for FCV growers and anti-tax evasion measures

Govt plans to source up to a quarter of LPG imports from US in 2027

New Delhi faced its worst ‌LPG shortage earlier this year after the Iran war and closure of the Strait of Hormuz disrupted supplies

35 years of liberalisation: How the 1991 BoP crisis forced historic reforms

A balance of payments crisis, emergency gold pledges, and a reform-driven Budget in 1991 set India on the path towards economic liberalisation

US widens foreign exchange review, keeps India off currency watch list

US Treasury expands its assessment framework for exchange-rate policies while concluding that India did not manipulate the rupee to gain a trade advantage

Reserve Bank of India gets govt's nod to issue ₹10, ₹20 polymer banknotes

The central bank will issue 1 billion each of ₹10 and ₹20 polymer banknotes for field trials before taking a call on their regular issuance

Farm R&D drove a third of India's increase in agri output in 2025: Icar

Icar estimates agricultural R&D contributed around Rs 55,000 crore, or a third, to the increase in India's farm output value between 2024 and 2025, its latest analysis shows

Number of individuals reporting ₹100 crore-plus income rises to 576

The government told the Lok Sabha that the number of taxpayers reporting gross total income of ₹100 crore or more has quadrupled since assessment year 2021-22

TN govt taps Montek Singh Ahluwalia to chart roadmap for boosting revenue

Six-member panel will recommend measures to improve tax and non-tax revenues, enhance compliance and fiscal self-reliance amid the state's rising debt burden

SC backs taxpayers, rules out GST on industrial lease rights transfer

The apex court dismissed the Centre's petitions against the Gujarat High Court ruling, holding that transfers of long-term GIDC industrial leasehold rights are not subject to GST

From scarce dollars to global buffers: Can India avoid 1991-like crisis?

Thirty-five years after the 1991 crisis, India's external sector is far stronger. But have larger reserves, stronger exports, and reforms eliminated the risk of another balance-of-payments crisis?

India's engineering exports rise 21% as shipments to China jump 74%

The growth in engineering exports provides a buffer for India's broader merchandise trade, which faces mounting pressure from higher freight, insurance and transit costs

MRPL asks crude suppliers to avoid Red Sea, Strait of Hormuz routes

Red Sea traffic ‌has been disrupted off the ​coast of Yemen ​since last week by the Tehran-aligned Houthis, who want to ​blockade Saudi exports

1991 Budget speech was Freedom Day for us; whole world was open: Mittal

Sunil Bharti Mittal says the 1991 reforms transformed India's business landscape, paving the way for Airtel, and calls for continued reforms to sustain growth