Economy

Income-tax dept checks 394 entities over suspicious foreign remittances

The exercise covers entities that sent large sums abroad despite reporting little business activity or not filing returns, along with professionals who certified payments.

Ind-Ra lifts India's FY27 economic growth forecast by 10 bps to 6.8%

But warns El Niño, geopolitical woes may weigh on momentum

Global headwinds: Robust swap inflows lift rupee just 0.1% vs 8.8% in 2013

Global factors weigh on the currency despite sizeable FCNR(B) inflows, as economists flag tight financial conditions, volatile energy markets and competition for capital

Build relationship with youth: FM Nirmala Sitharaman to PSBs

Sitharaman also asks state-owned banks to strengthen priority-sector lending and launch a month-long 'Banking for Youth' campaign from October 2

Odisha govt unveils ₹1,000 crore relief package for flood-hit districts

Package covers crop, housing, livelihood and infrastructure losses as floods across five river systems affect more than 18 lakh people in 22 districts and claim 13 lives

Suspicious foreign remittances under income tax department scanner

Entities located in districts along India's land borders and remitting significant amounts of money abroad have also been covered in the exercise

China unveils new measures to boost consumption in counties, smaller cities

The government calls for upgrading consumption channels in counties, including renovating township commercial centres, rural markets and local fairs

India challenges US tariffs on quartz products with WTO consultation bid

Under WTO rules, the US has to enter into consultation within 30 days of receiving the request. If the dispute isn't resolved within 60 days, India can request the establishment of a panel

India's tanker exports surge over six-fold to $1.36 bn in Q1, UAE leads

Tankers are large-scale transport ships engineered for the bulk movement of liquids and gases

Govt weighs cutting sugar import duty to curb record local prices

Officials are weighing proposals to lower or scrap the 100% tax on inbound shipments in an effort to boost local supplies

Median Indian firm grew in size after Covid-19 pandemic, EAC-PM paper finds

The paper found corporate profits rebounded sharply after the Covid-19 pandemic, but investment growth remained slower

India's growth to slow to 6.8% in FY27 amid West Asia crisis, El Nino risks

The FY27 GDP growth projection at 6.8 per cent is a tad higher than the 6.7 per cent growth Ind-Ra had projected in May

Chatroom: EOU warehousing, eway bills and ITC: 3 practical issues

Expert explains whether an EOU can warehouse goods near Ahmedabad, the correct eway bill destination for exports and how to claim ITC on differential IGST

Industry seeks input tax credit relief for data centres, GCCs, other biz

Industry seeks wider GST input tax credit on construction and employee-related expenses, arguing that the current restrictions raise business costs and hurt competitiveness

India's unemployment rate eases to four-month low of 5.1% in July

India's unemployment rate fell to 5.1% in July as labour force participation and worker population ratios rose, pointing to a firmer labour market

Esic contribution cushion seen thinning on rise in benefit costs

Actuarial projections show ESIC's benefit spending could outpace contribution income over the next four years, even as interest income keeps the corporation in surplus

VB-G RAM-G's first month: Poor jobs data, but the story is more complex

July persondays fell sharply from MGNREGA levels, but the Centre cites sowing pauses, monsoon recovery and transition issues, while experts say one month is too early to judge

MSMED amendment bill could be an 'IBC moment' for small enterprises: Report

The bankruptcy law (IBC) has helped banks to get rid of bad loans by putting borrowers at the risk of losing control over their companies in case of a default

Govt clears 31 electronic component manufacturing proposals worth ₹7,877 cr

With the latest approvals, the government has cleared 106 applications covering around 30 product categories across 15 states under the ECMS

India's unemployment rate fell to 5.1% in July from 5.5% in June: Govt data

Compared with July 2025, the overall UR and rural UR remained broadly stable in July 2026, whereas the urban UR decreased by 0.5 percentage point from 7.2 per cent in July 2025