Page 2 - Economy

Govt defends GDP estimates, says revisions reflect data, not growth boost

The statistics ministry on Wednesday defended the methodology behind its newly released economic growth estimates, saying revisions to last year's GDP and the divergence between different price measures reflect updated data and estimation techniques rather than an attempt to artificially boost headline growth. The clarification came two days after the government released an updated series of annual and quarterly GDP estimates with 2022-23 as the base year, incorporating a new Producer Price Index (PPI), Banking Services Price Index and additional administrative data. The ministry's detailed questions-and-answers addressed concerns ranging from negative implicit price deflators in manufacturing to the sharp difference between nominal and real growth in mining, as well as the sizeable statistical discrepancy between production- and expenditure-side estimates. India's economy grew 7.8 per cent in real terms in the first quarter of fiscal 2026-27, according to the revised GDP series. T

India's economy can near $20 trn by 2046 if current growth pace holds: CEA

The economy doesn't need "heroic assumptions" to meet that target, Chief Economic Adviser V Anantha Nageswaran said

Economic activity stable, but El Niño clouds food inflation: FinMin

Finance ministry says domestic demand remains resilient, but an intensifying El Nino and weather-related risks warrant caution on food inflation and agricultural output

8 of 19 services sub-sectors post double-digit growth in June: MoSPI

The index of services production released on Monday for the third time on a trial basis showed eight of 19 service categories recorded double-digit growth in June this year. The Ministry of Statistics & Programme Implementation (MoSPI) releases the Index of Services Production (ISP) for the month of June 2026 in respect of 19 sub-sectors, with base year 202425. Except for air transport, all the categories recorded positive growth in June on an annual basis, a statement by the statistics ministry said. Air transport declined by six per cent. Top sub-sectors reporting strong growth in June 2026 were Real Estate (24.7 per cent), Retail Trade (18.0 per cent), Wholesale Trade (15.1 per cent), Administrative and Support Services (14.4 per cent), IT and Computer Related Services (13.5 per cent), according to the index. The maiden sub-sectors trial ISP for April 2026 was released on July 14, 2026. The monthly ISPs are being published on an experimental basis, the ministry said. The ...

Govt to buy back ₹30,000 cr securities on Sep 3 amid surplus liquidity

The Reserve Bank of India (RBI) on Friday announced the buyback of government securities worth Rs 30,000 crore on September 3. The auction will take place on September 3, between 10:30 AM and 11:30 AM on the Reserve Bank of India Core Banking Solution (E-Kuber), the RBI said in a notification. The government will buy back securities such as 7.33 per cent GS 2026, 5.74 per cent GS 2026, 8.15 per cent GS 2026, and 8.24 per cent GS 2027, the notification said. The central bank has not notified any amount for the individual securities within the aggregate ceiling of Rs 30,000 crore. Auction for securities will be conducted using multiple price methods, the RBI said. This comes at a time when the liquidity in the banking system is in huge surplus and the central bank has been conducting variable rate reverse repo (VRRR) auctions to remove excess surplus liquidity from the system. The central bank, so far in August, has conducted 21 VRRR auctions to remove excess surplus liquidity from

Datanomics: Corporation earnings may have depressed GDP growth

Even at seven per cent, the GDP growth rate in the first quarter would be a four-quarter low, though higher than 6.8 per cent in the year-ago period.

Indians invest record funds in overseas stocks, debt in June

Mutual funds investing overseas through the fund-of-funds route also held assets worth 465.5 billion rupees ($4.9 billion) as of July 31

Digital divide keeps women out of India's gig economy, says report

Women remain under-represented in India's platform economy despite near parity in bank-account ownership, as digital capability and credit-access gaps persist

India's informal sector suffered sharpest contraction in Q1 FY27

Establishments and employment remained above year-ago levels but contracted sequentially, with rural India accounting for much of the decline in the June quarter

Kolkata's tryst with reforms: IT, retail gained but past glory elusive

Even as new-age offices and crisscrossing flyovers reshaped the skyline, Kolkata's image changed only fleetingly

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

Equirus' $20trn economy roadmap: List railways, cut TDS, end STT & more

Equirus Securities in its report 'India's Road to a $20 Trillion Economy' has proposed a 20-point reform agenda across five areas.

100 days in office: West Bengal banks on a pro-business turnaround

West Bengal's new government is betting on a pro-business approach to revive investment, but fiscal constraints and the contentious land question remain major hurdles

Tier-II, III cities account for over half of forex demand: Thomas Cook

Thomas Cook's report shows smaller cities driving forex demand as young travellers adopt digital channels and buyers increasingly opt for destination-specific currencies.

Temporary hiring likely to rise 15-20% this festive season: Report

Temporary hiring is expected to rise 15-20 per cent this year as companies step up recruitment for specialised frontline roles to meet increased demand during an extended festive season, a report said on Wednesday. Hiring across organised retail, e-commerce, quick commerce, logistics, FMCG and consumer durables is expected to grow this festive season, according to TeamLease Services' Festive Season Workforce Report 2026. However, hiring is shifting beyond volume recruitment toward specialised frontline roles as businesses prepare for a longer festive calendar, faster fulfilment expectations and increasingly omnichannel consumer journeys. The TeamLease Services' Festive Season Workforce Report 2026 is based on its internal workforce dataset and evaluates anonymised employment records of 60,000 frontline associates deployed during the season across Consumer Durables, Organised Retail, E-Commerce, Quick Commerce, Logistics, and FMCG. According to the report, as sale windows extend fro

Private firms to invest ₹1,100 crore in Uttar Pradesh's transport infra

Private firms are likely to invest ₹1,100 crore in 18 modern bus terminals in Uttar Pradesh as the state expands its transport PPP model and electric bus network

Rural economy became more resilient in past 15 years: Poonam Gupta

RBI Deputy Governor Poonam Gupta says higher irrigation coverage, allied activities, mechanisation and better crop varieties have made the rural economy and agriculture more resilient.

Finance Ministry calls for swift policy response to global realities

In reform push, seeks reinvented approach to actions

IFSCA working with govt to ease tax hurdles for GIFT outbound funds

Outbound investments from GIFT IFSC remain constrained due to tax-related issues, and the International Financial Services Centres Authority (IFSCA) is working with the government on the matter, a senior official said on Wednesday. "We are already working with the government on the outbound tax. That is, of course, the request of the funds. That is something which we are working on," Pradeep Ramakrishnan, executive director at IFSCA, said during a panel discussion at an Artha Bharat Investment Managers IFSC LLP event. Ramakrishnan's remarks come amid industry demands for a more competitive tax framework to encourage outbound investment structures from GIFT City. Further, Sachin Sawrikar, managing partner at Artha Bharat Investment Managers IFSC LLP, in an interview to PTI, said outbound investments remain relatively small and continue to face multiple constraints, including taxation and the tax collected at source (TCS) framework. Sawrikar said while the IFSC regulator has made ...

Cybersecurity GCCs nearly double in India as global threats intensify

The number of cybersecurity GCCs in India has risen to 59 from about 30 in six years as global firms tap local talent for engineering, threat intelligence and security operations