Page 2 - Economy

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

Net FDI decline due to increased repatriation by foreign investors: Govt

Net foreign direct investment (FDI) declined in recent years, from USD 27.99 billion in FY23 to USD 6.95 billion in FY26, due to increased repatriation by foreign investors and rising Overseas Direct Investment (ODI) outflows, Parliament was informed on Tuesday. Net FDI moderated to USD 10.13 billion in FY24 and further to USD 960 million in FY25, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha quoting RBI data. In gross terms, he said, India registered a record FDI inflow of USD 94.84 billion in FY26 as compared to USD 80.61 billion in FY25. "The decline in net FDI in recent years recovered to USD 6.95 billion in FY26 from USD 0.96 billion in FY25. The recent trend in net FDI inflows is associated with increased repatriation/disinvestment by foreign investors and rising Overseas Direct Investment (ODI) outflows," he said. The ODI outflow on account of liberalized ODI rules notified in 2022 is helping Indian entities enhance their business

Macro fundamentals of Indian economy remain strong amid global challenges

Macroeconomic fundamentals of the Indian economy remain strong, supported by robust domestic demand, healthy corporate balance sheets and sustained fiscal discipline amid global challenges, Union Minister Pankaj Chaudhary told Parliament on Tuesday. Further, according to the RBI's Financial Stability Report (June 2026), the domestic financial system remains resilient, underpinned by strong bank and non-bank balance sheets, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Rajya Sabha. "As a major player in global markets, India's economy is also linked with international trends, which impact its exchange rate movements. Since the start of the West Asia conflict, the Indian Rupee (INR) has depreciated against the US Dollar (USD) by 5.8 per cent in FY27 (from February 27 up to July 22, 2026)," he said. At present, the macroeconomic fundamentals of the Indian economy remain strong, he said, adding real GDP has consistently grown at over 7 per cent during the

Govt considering proposal to ease FDI norms for downstream investments

The government is considering a proposal to ease foreign direct investment (FDI) norms for downstream investments to boost overseas fund inflows and create jobs, sources said. The proposal is currently under inter-ministerial discussions, they said. The government has in recent years undertaken a series of reforms aimed at liberalising the country's FDI policies with the goal of stimulating economic growth and encouraging foreign capital inflows. To promote FDI, the government has put in place an investor-friendly policy, with most sectors open to 100 per cent overseas investments under the automatic route except for a few strategically important sectors. More than 90 per cent of FDI inflows are received under the automatic route. One of the sources said that to ensure that India remains an attractive and investor-friendly destination, the government reviews the FDI policy on a continuous basis and makes changes from time to time after holding extensive consultations with ...