In a major push to streamline tax litigation and enhance revenue realisation, the Income Tax Department has rolled out an aggressive plan to dispose of a record number of pending tax appeals, according to an action plan reviewed by CNBC-TV18. Facing a potential revenue shortfall of ₹1 lakh crore following recent tweaks in income tax … Read more
The Maharashtra government has redirected ₹746 crore from the Social Justice and Tribal Development departments to its flagship Ladki Bahin Scheme, a move that has ignited tensions within the ruling BJP-led Mahayuti alliance. The move has once again highlighted the burden the Ladki Bahin scheme is putting on the state’s finances. The decision, announced on … Read more
The Indian banking sector faces fresh turmoil as the Supreme Court, on Friday, May 2, struck down JSW Steel’s ₹19,700-crore resolution plan for debt-laden Bhushan Power and Steel Ltd (BPSL), ordering its liquidation instead. The SC ruling on JSW Steel’s Bhushan Power deal has brought high uncertainty for creditors, especially public sector banks, which now … Read more
India has banned direct or indirect import of all goods from Pakistan with immediate effect, according to a notification from the commerce ministry. A provision in this regard has been added in the Foreign Trade Policy (FTP) 2023 “to prohibit direct or indirect import or transit of all goods originating in or exported from Pakistan … Read more
The Reserve Bank of India’s surprise announcement of a ₹1.25 lakh crore bond purchase under its Open Market Operations (OMOs) has puzzled many, given that the banking system is already running a liquidity surplus. But according to Citi India’s Chief Economist Samiran Chakraborty, the move is in line with the RBI’s continued accommodative stance and … Read more
India’s economic outlook for FY26 is marked by cautious optimism, with GDP growth projected between 6.3% and 6.8%. The finance ministry believes the higher end of the range is achievable if global conditions are supportive, though it remains confident of hitting the lower bound even amid global headwinds. Officials say strong macroeconomic fundamentals are helping … Read more
India is exploring options to increase fertiliser imports from the United States as part of efforts to diversify sourcing away from China and reduce its growing trade surplus with the world’s largest economy, government sources said. India relies heavily on fertiliser imports to meet domestic demand in its agriculture sector. Top suppliers currently include Russia, … Read more
China said it is assessing the possibility of trade talks with the US, the first sign since Donald Trump hiked tariffs last month that negotiations could begin between the two sides. China’s Commerce Ministry said in a Friday statement that it had noted senior US officials repeatedly expressing their willingness to talk to Beijing about … Read more
India recorded its highest-ever monthly Goods and Services Tax (GST) collections in April 2025, with revenues reaching ₹2.36 lakh crore—a year-on-year growth of 12.6%. The figure reflects transactions made in March, the final month of the 2024–25 financial year, a period typically associated with intensified business activity due to annual reconciliations and stock clearances. This … Read more
On Labour Day, we are reminded that protecting labour rights is not just a moral obligation—it is a cornerstone of a resilient and sustainable economy. Labour rights and economic development are deeply intertwined. When workers are empowered, economies flourish. Ensuring fair wages, compassionate treatment, and safe working conditions uplifts individuals and strengthens the broader economic … Read more