Finance
Sales glut pips tax cut as GST mop-up keeps rising
In October, the Goods and Services Tax collections soared to Rs 1.95 lakh crore, marking a 4.6% rise compared to the previous year. Notably, this increase transpired even with substantial tax cuts in place. The surge in domestic consumption played a pivotal role in boosting these figures, effectively covering potential revenue shortfalls.
GSTAT: The missing piece in India’s GST framework finally falls in place
India's Goods and Services Tax Appellate Tribunal, GSTAT, is now operational after an eight-year wait. This new body promises faster dispute resolution for businesses and tax professionals. It aims to bring uniformity and transparency to tax rulings. GSTAT will handle appeals, reducing the burden on High Courts. A digital platform and structured rollout are key features.
GST collections rise 4.6% to Rs 1.96 lakh crore in October despite tax cuts
Goods and Services Tax collections saw a 4.6% increase in October, reaching Rs 1.96 lakh crore. This growth indicates robust economic activity and consumer spending during the festive season. Net tax collections after refunds also showed a marginal rise.
Industry pushes for long-term maritime infra financing options
The growth of India's maritime industry is hindered by a lack of robust financing avenues. Shipowners are encountering challenges with banks hesitating to fund vessel acquisitions. Meanwhile, port developers are in dire need of funding options that span 30 to 50 years to ensure project viability.
Fiscal deficit at 36.5% of FY26 target on higher capital spending
In the first half of FY2025-26, government finances reflect a widening fiscal deficit. A notable increase in capital expenditure has driven significant infrastructure development.
GST collection sparkles despite wholesale cuts; Govt foresees marginal shortfall from budget estimates, upbeat about Oct numbers
India's goods and services tax collections are strong even after recent rate cuts. This gives the government confidence in meeting budget estimates. The reforms are supporting local consumption and government revenue. Officials expect any deviation from budgeted revenues to be modest. The timing of the reforms with the festive season boosted domestic sales.
Indian Ayurveda economy valued at $43 billion: Ayush Secretary Kotecha
The Indian Ayurveda economy is currently valued at 43 billion US dollars. It is projected to contribute five percent to India's GDP by 2047. Investment proposals worth 1.2 billion US dollars are already in the pipeline. Kerala is highlighted as a pioneering state in Ayurveda. The state aims to become a premier global healthcare destination.
Himachal CM urges FM to increase additional borrowing limit for state by 2 pc
In a strategic move to strengthen Himachal Pradesh's fiscal framework, Chief Minister Sukhvinder Singh Sukhu engaged with Union Finance Minister Nirmala Sitharaman, advocating for a significant increase in the state's borrowing capacity. Additionally, he appealed to Union Minister Jitendra Singh to prioritize advanced weather monitoring technologies and the establishment of bio-manufacturing centers.
RBI brings home 64 tonnes of gold between March 2025 and Sept 2025
India’s central bank has brought home 274 tonnes of gold since March 2023. The move to accelerated repatriation of gold started post the Russia- Ukraine war and the Taliban’s takeover of Afghanistan.
MGNREGS may not need more funds this fiscal
In a notable change, the government sees no immediate requirement for additional budgets to support the rural employment guarantee scheme. This year's dip in demand for unskilled labor aligns with an upturn in economic conditions, leading to enhanced job opportunities.
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Global central banks cut US T-bill exposure, increase gold reserves
Global central banks are reducing US Treasury holdings and increasing gold reserves. India's gold reserves surpassed $100 billion. Gold prices experienced a significant drop, which is expected to boost demand from investors and central banks. This shift indicates a diversification strategy amid political uncertainty. The trend shows a move away from dollar assets towards gold.
RBI seeks gold comfort over dollar assets
In a bold move towards financial stability, India's Reserve Bank is transforming its foreign exchange strategy. By acquiring more gold and scaling back on US Treasury Securities, the bank is effectively diversifying its reserves. This shift underscores gold's reputation as a secure asset in volatile economic climates, with India's gold reserves now surpassing a staggering 100 billion dollars.
Digital payments comprise 99.8% of total transactions volume in H1 2025: RBI
Digital payments have surged in India, now representing 99.8% of transaction volume and 97.7% of value in early 2025. This marks a significant increase from 2019, showcasing the nation's rapid adoption of digital financial tools. The total payment transactions reached Rs 1,572 lakh crore, with digital methods dominating.
RBI's gold reserves cross 880 metric tonnes by September
In a significant turning point for India’s financial landscape, the Reserve Bank of India's gold reserves have officially crossed 880 metric tonnes during the early months of the 2025-26 financial year. This increase, with an addition of 0.
Net FDI turns negative in August as outflows, FPI selling rise
In a surprising turn of events, August witnessed a notable decrease in foreign direct investment in India, resulting in a rare negative net FDI for this fiscal year. The Indian rupee took a hit, prompting action from the Reserve Bank of India to stabilize the forex market.
Indian economy shows resilience amid global challenges: RBI report highlights domestic consumption revival
India's economy is proving strong. Domestic consumption is boosting growth. This helps counter global challenges and weak demand. Inflation is low. Banks and companies have strong finances. Foreign exchange reserves are adequate. The Reserve Bank of India sees policy space to support growth further. This resilience is a key priority.