INDIAN ECONOMY
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Indian household consumption is likely to become increasingly diversified, with spending gradually moving beyond food essentials towards non-food products and services, as changing dietary preferences and household structures reshape consumption patterns, according to an research report by SBI Research.
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The Centre is likely to meet its fiscal deficit target of 4.3 per cent of GDP for FY27 despite the deficit reaching 42.6 per cent of the full-year estimate in the first six months, as stronger corporate tax collections are helping offset revenue pressures, according to a report by Goldman Sachs Research.
T...
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The Centre on Saturday released an additional Rs 1,09,019 crore to state governments as tax devolution. This is over and above the regular monthly transfer ahead of the festive season, giving states additional resources to step up capital expenditure and meet development and welfare commitments.
Finance mi...
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China has gotten a lot of bargaining power out of its near-monopoly over rare earths. Now it’s looking to repeat the trick in a more mundane industry – and perhaps squeeze a key Asian rival.
Beijing’s newest export controls target construction equipment — including tunnel-boring machines, some of the world...
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India’s crude oil imports are set to hit an all-time high of 5.63 million barrels per day (bpd) in October, rising more than 5% from September as a surge in Atlantic Basin shipments and continued Russian supplies more than offset lower arrivals from the Middle East, according to data from commodity analytics ...
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As kharif crop harvesting gather pace, retail prices of key agricultural commodities including rice, sugar, mustard oil and onion are ruling at significantly higher levels compared to the previous year, according to the Price Monitoring Cell of the Department of Consumer Affairs.
Experts attribute the mark...
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India’s manufacturing activity continued to expand in October, although the pace of growth moderated slightly from the previous month. HSBC India Manufacturing Purchasing Managers’ Index (PMI) declined at 54.7 in October, compared with 55.1 in September. However, it remained comfortably above the 50-mark.
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MARKET & FINANCE
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Indian equities were reportedly among the world's best-performing markets in October, outperforming the broader Asia-Pacific region as investors shifted money away from Al-sensitive technology stocks and towards other sectors. The trend was also visible within India, where IT services stocks gained ground whi...
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The mutual fund (MF) investor growth trajectory remains on the slower side for the second consecutive year, coinciding with the weakness in the equity market and a slowdown in new fund launches.
The industry has added 4.4 million net new investors in calendar year 2026 (CY26) till September....
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Binance, the world’s biggest cryptocurrency exchange, said it has covered $6 billion of the $6.3 billion stolen from its platform by using company money to buy replacement tokens, after a hack that US officials said was carried out by a North Korean state-sponsored unit known as TraderTraitor.
"We had alre...
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The Securities and Exchange Board of India (Sebi) will delist companies with no economic activity from stock exchanges to protect investors, particularly those who invest in penny stocks.
“These companies pose a potential danger to investors, and therefore, it is necessary to remove them from the listed sp...
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Binance customers pulled $3.64 billion, or 2.1% of its assets, as the world's biggest cryptocurrency exchange resumed service after a security breach linked to North Korea saw $6.3 billion stolen from the platform last week.
The exchange moved to reassure crypto investors and said withdrawals were stabilis...
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Foreign institutional investors (FIIs) have pulled nearly $64 billion from Indian equities over the past two years, yet cheaper valuations and a stronger earnings outlook have failed to bring them back. The missing trigger, according to JM Financial, may be a sustained decline in crude oil prices.
FIIs net...
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In a bid to attract foreign investors and anchor retail investors within domestic equity markets, the Securities and Exchange Board of India (SEBI) has recommended the removal of the long-term capital gains tax (LTCG) on foreign investors, as per a source-based report by Reuters. The suggestion has been made...
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A grocery bill, a cab fare or money sent to a friend — a UPI payment has become a familiar part of everyday life. Put those transactions together and the numbers are striking: in October, more than Rs 1 lakh crore worth of transactions in a day on an average! Let that sink in.
Across the month, the Unified...
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GLOBAL CORPORATE
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OpenAI has slashed the target for its latest funding round by $10 billion amid a selloff in tech stocks driven by AI worries, the Financial Times reported on Friday, citing people with knowledge of the matter.
The ChatGPT maker is now seeking about $20 billion and its desired valuation has dropped to $1.25...
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Meta has built a prototype humanoid robot with Chinese startup company Fourier and is working on a second version, The Information reported on Saturday, citing people familiar with the initiative.
Reuters could not immediately verify the report....
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Chinese electric vehicle maker BYD posted a sixth straight month of sales growth in October, relying on overseas markets to counter sluggish demand and intense price competition at home.
Vehicle sales grew 11% from a year earlier to 490,168 units last month, cooling from a 17% gain in September, while over...
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Banking
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Banks have approached the government seeking an extension of the Credit Guarantee Fund for Micro Units (CGFMU) programme....
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Bank lending to India's commercial sector increased sharply during April-August of the current financial year (FY27), even as corporate bond issuances by non-financial companies declined amid rising bond yields, according to the Finance Ministry's October Monthly Economic Review....
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GLOBAL ECONOMY
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South Korea's exports nearly doubled in October, the sharpest jump in more than 50 years, as robust global demand for AI investment boosted shipments of the country's chips, government data showed on Sunday.
Exports from Asia's...
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INDIAN CORPORATE
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Reliance Industries Ltd (RIL) could continue to benefit from favourable global refining conditions in the October-December quarter (Q3 FY27), although higher shipping costs may weigh on margins following the company's record Septe...
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Jio Platforms reported a 28% rise in its 5G subscriber base and a 32% increase in home broadband connections in the September quarter, in its first earnings report since raising a record $3.2 billion in India’s largest-ever IPO....
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Ambuja Cements on Monday announced an investment of Rs 14,500 crore ($1.53 billion) to expand its cement manufacturing capacity to 155 million tonnes per annum (MTPA) by fiscal 2030.
The company, which currently has a capacity ...
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Three state-owned oil marketing companies (OMCs) earned nearly 39% of their entire FY26 profit in the September quarter alone, with combined standalone net profit jumping 68.3% year-on-year to Rs 30,106 crore, as stronger refining...
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Honda Cars India Ltd reported a 23% year-on-year decline in total sales to 8,082 units in October, with a sharp fall in exports offsetting growth in the domestic market. The automaker recorded domestic sales of 7,609 units during ...
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Hero MotoCorp reported total dispatches of 7,34,403 motorcycles and scooters in October 2026, up 16% from 6,35,808 units in the same month last year. Strong scooter volumes and growth in its domestic internal combustion engine (IC...
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India Inc has had a good earnings season so far, with strong top-line growth only slightly dulled by margin pressure. Companies pushed through healthy volumes in the quarter, but not all could offset rising input costs with price ...
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Coal India Limited (CIL) recorded its highest-ever monthly coal supplies of 70.3 million tonne (MT) in October, up 19% year-on-year, as dispatches to thermal power plants touched a record 57.1 MT amid rising electricity demand and...
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GST
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Taxpayers intending to obtain registration under GST are hereby informed that FORM GST REG-01 has been revised on GST portal to incorporate certain changes in the registration application process. The revised form introduces additional information requirements and standardises the documentary requirements rel...
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Pursuant to Notification No. 05/2026-Central Tax dated 26.10.2026, GSTN has introduced a facility on the GST Portal to enable eligible suppliers selling goods through e-Commerce Operators (ECOs) that collect tax at source under Section 52 of the CGST Act, 2017, to obtain registration under the Simplified Regi...
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The self-cancellation process has been revised to incorporate system-based validations and facilitate the electronic approval of cancellation of registration, subject to the fulfilment of the prescribed conditions as per rule 20 of the Central GST Rules, 2017. The revised process is outlined below:...
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The Government, vide Notification No. 25/2024-Central Tax dated 9 October 2024, had introduced TDS compliance requirements under Section 51 of the CGST Act, 2017, for businesses dealing in metal scrap. Accordingly, GSTN had earlier issued an advisory Dated:22.10.2024 regarding TDS registration....
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Some changes have been introduced on the GST portal for taxpayers registered under or opting for, the Composition Scheme. These changes will apply to applications filed through Form REG-01, CMP-02, CMP-04 and REG-14.
Introduction of New Composition Category
A new category has been introduced for compositi...
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Vide Notification No. 05/2026-Central Tax Dated:26.10.2026, Rule 21 of Central Goods and Services Tax Rules, 2017, the provisions relating to amendment of registration under Rule 19 of the CGST Rules, 2017 have been substituted. The corresponding changes have been implemented on the GST portal....
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The Confederation of Indian Industry (CII) has termed the GST Council’s decisions on decriminalisation and rationalisation of enforcement powers as some of the “most significant” institutional reforms in India’s transition towards trust-based economic governance.
“The decisions mark a fundamental shift tow...
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India’s Goods and Services Tax (GST) collections grew at the quickest pace in over four years in October to a six-month high of Rs 2.31 lakh crore amidst festive demand and a sharp jump in imports revenue, data released Sunday showed.
Gross GST collections rose 22.9% year-on-year, the quickest increase sin...
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