Topic
Economy
Business India's GST Collections Jump 15.4% to Over Rs 2.11 Lakh Crore in July
India's gross GST collections rose 15.4% year-on-year to over Rs 2.11 lakh crore in July, according to government data. Refunds climbed 13.1% to Rs 29,968 crore, while net GST revenue stood at over Rs 1.81 lakh crore. KPMG's Abhishek Jain called the momentum healthy and suggested exploring 'GST 3.0' for refunds on input services.
Finance Parametric climate insurance can safeguard India's ₹52 lakh crore agriculture economy in El Niño year
India's agriculture is increasingly exposed to structural climate risk, with 2026 predicted to be an El Niño year and seasonal rainfall already 13 per cent below normal. The Hindu Business Line reports that parametric climate insurance — with localised triggers, fast payouts and clear thresholds — can safeguard the ₹52 lakh crore agriculture economy. The article urges expansion of PMFBY and links insurance with adaptation.
Business Mumbai records more than 13,600 property registrations in July 2026, highest in 14 years: Report
Mumbai recorded 13,617 property registrations in July 2026, the highest for the month in 14 years, according to Knight Frank India. Registrations rose 8.3% year-on-year, while stamp duty collections grew 8.9% to ₹1,223 crore. The report attributes momentum to resilient end-user demand and higher-value home purchases.
Business CPKC sets second-quarter revenue record as operating income rises 10%
CPKC reported record second-quarter revenue of $3 billion, up 13%, and operating income of $1.06 billion, up 10%. Grain, automotive, and energy shipments drove growth, while coal declined 29%. Key operating metrics improved year-over-year, but safety metrics worsened.
Business US economy slows as GDP growth slips to 1.5%, consumers keep momentum alive
The US economy grew at an annual rate of 1.5% in Q2 2026, slowing from 2.1% in Q1 and missing expectations. Consumer spending accelerated to 3.2% but a surge in imports—up 11.5%—deducted 1.5 percentage points from growth. Inflation continued to ease, with the PCE index rising 3.7% year-on-year, still above the Fed's 2% target.
US economic growth slows to 1.5% in second quarter, missing analyst estimates
The US economy grew at an annual rate of 1.5% in the second quarter, according to the Commerce Department, down from 2.1% in the first quarter and below analyst expectations. The slowdown was driven by lower government spending, investment and exports, though consumer spending provided a boost. The Federal Reserve held interest rates for a fifth consecutive meeting, with Chairman Kevin Warsh warning of persistent inflation.
Logistics Housing Market Crash Slams Last-Mile Delivery: Growth Halved, Consolidation Looms
The big-and-bulky last-mile delivery segment is seeing growth halved to roughly 5% annually through 2027, driven by a stalled housing market with 6-7% mortgage rates. A joint report from Armstrong & Associates and the National Home Delivery Association highlights intensifying competition, the need for AI-driven execution, and looming consolidation. Labor availability is also tightening due to CDL enforcement.
Business UK Interest Rates Expected to Hold at 3.75% as Bank of England Maintains Cautious Stance Amid Global Uncertainty
The Bank of England is widely expected to hold its benchmark interest rate at 3.75% for a fifth consecutive meeting, as uncertainty over global politics, the Middle East conflict, and inflation persists. The decision, due at 12:00 BST, will keep mortgage repayments stable for tracker borrowers but fixed-rate deals are rising, with the average two-year fixed rate at 5.62%.
Business US Federal Reserve Holds Rates Steady as Kevin Warsh-Led FOMC Maintains 3.5-3.75% Range
The Federal Open Market Committee, led by Chair Kevin Warsh, voted to maintain the federal funds rate at 3.5-3.75% following its July 28-29 meeting. The decision reflects persistent inflation above the 2% target, geopolitical uncertainties from the Middle East conflict, and volatile oil prices. The Fed's statement noted solid economic expansion but highlighted supply shocks and tariff-related pressures.
Business US Interest Rates Held for Fifth Consecutive Meeting as Fed Votes 9-3
The Federal Reserve held US interest rates at 3.5%-3.75% for the fifth time in a row, as expected. Policymakers voted 9-3 to maintain the rate, despite inflation easing to 3.5% in June, still above the 2% target. Uncertainty over the Middle East conflict's impact on oil prices clouds the outlook.
Business What India should do to respond to emerging global challenges, high oil prices: FinMin outlines
The Finance Ministry's monthly economic review, released Wednesday, urges India to reinvent its policy approach amid rising crude oil prices and global uncertainties. It warns of risks to inflation, fiscal deficit, and current account balance, while noting the economy's resilience. Deeper reforms and faster policy execution are deemed critical to attracting investment and strengthening strategic position.
Business GST Boost: Maharashtra Emerges as India’s Top State Tax Contributor, Says India Ratings
Maharashtra has become the largest contributor to state tax revenue under GST, driven by high consumption and a large services sector. India Ratings & Research reports a sharp improvement in tax buoyancy and a doubling of the taxpayer base since the reform. The state's share rose to 20.4% in the post-GST period.
Business India Salary Hikes Projected at 8.6%-10.2%; EV, Fintech, Healthcare Lead Pay Gains
Salary hikes in India are projected to range from 8.6% to 10.2% across industries in FY26-27, according to TeamLease's jobs and salaries primer. Electric vehicles, fintech, healthcare, and power sectors lead with increments up to 10.2%. Electrical engineers top the role-wise list with 11.2% hikes, while Chennai, Pune, Hyderabad, and Ahmedabad emerge as top cities for salary growth.
Business India Approves 2 Billion Polymer Banknotes for Field Trials as RBI Revives Plastic Currency Plan
The Indian government has authorised the Reserve Bank of India to print an initial batch of 2 billion polymer banknotes for field trials, with one billion Rs 10 notes and one billion Rs 20 notes. Minister of State for Finance Pankaj Chaudhary clarified that paper currency will not be replaced entirely. The move revives a proposal first announced in 2012 and comes as RBI's note printing expenditure fell nearly 25% to Rs 4,875 crore in 2025-26.
Business For Ease of Liquidity and Business, Government to Amend MSME Act
The Government of India intends to amend the Micro, Small and Medium Enterprises (MSME) Act to enhance liquidity and ease of doing business. The move, reported by Times of India, signals a strategic shift to support the MSME sector, which is vital for employment and economic growth. The amendment aims to address regulatory bottlenecks and improve access to finance.
Business India Industrial Output Grows 7.3% in June, Fastest Pace in 22 Months
India's industrial production grew 7.3% in June, the fastest in 22 months, driven by strong manufacturing and electricity output. The Q1 growth stood at 5.8%, up from 3.4% a year ago. Economists note resilient domestic demand but warn of risks from high input prices, erratic monsoon, and global slowdown.
Business India's Factory Output Surges 7.3% in June, Fastest Pace in Nearly Two Years
India's factory output rose 7.3% in June, the fastest pace in nearly two years, driven by manufacturing (7.8%) and electricity (10.6%). The data exceeded economists' forecasts of 5.7%, signalling strong first-quarter GDP growth of 6.8-7%.
Business Hindustan Unilever Announces More Price Increases Amid Persistent Inflation
Hindustan Unilever (HUL) will implement additional price increases in the coming quarters due to volatile commodity costs and persistent inflation, projected at 2-5% for the September quarter. The company reported a 10% revenue growth in Q1FY27 to Rs 17,341 crore, but net profit declined 3.2% to Rs 2,680 crore. CEO Priya Nair indicated a strategy of calibrated pricing and volume-led growth, while analysts noted margin stress in home and personal care categories.
Business India's Industrial Production Surges 7.3% in June, Led by Manufacturing and Power Sectors
India's Index of Industrial Production (IIP) expanded 7.3% year-on-year in June 2026, accelerating from 5% in May, according to the National Statistics Office. Manufacturing output grew 7.8%, while electricity & gas supply surged 10.6%. Within manufacturing, 19 of 23 industry groups posted positive growth, led by electrical equipment (34%), motor vehicles (17.5%), and food products (10.8%). Chief Economist Aditi Nayar of ICRA Ltd noted broad-based acceleration and robust investment activity.
Trade Trade gap seen as by-product of India's development stage, investment needs, energy dependence: Govt to Parliament
India's merchandise trade deficit is a natural by-product of its development stage, investment needs, and energy dependence, according to Minister of State for Commerce and Industry Jitin Prasada. The statement to Parliament also highlighted shrimp export rejections totaling Rs 14 crore, rising FDI inflows, and progress under PLI schemes and the National Industrial Corridor Development Programme.
Commodities Women Account for 60% of Indian Agricultural Workforce in 2025, Government Data Shows
Women constitute 59.8% of the agricultural workforce in India as of 2025, according to the Periodic Labour Force Survey. The government reports that 21.8 million women farmers received PM-KISAN benefits under the 23rd instalment. Additionally, tobacco exports have increased 53% in quantity and 166.5% in value over the past decade, with Flue-Cured Virginia tobacco farmers seeing an 86.8% rise in average price.
Business Rs 100 Crore+ Income Club Sees Most Entries in 4 Years, Tax Base Widens
The Indian government reported 576 individuals with gross income over Rs 100 crore in FY2024-25, with 161 additions — the highest in four years. The data, disclosed in Parliament, also shows widening direct tax base and rising tax-to-GDP ratio.
Business Tata Sons profit jumps 22% as IPO windfall masks nearly ₹29,000 crore losses in new ventures
Tata Sons reported a 22% increase in net profit to ₹31,961 crore for FY26, lifted by a ₹6,531 crore gain from the Tata Capital IPO. However, losses from new ventures including Air India, Tata Digital, and Tata Electronics surged to nearly ₹29,000 crore. The board declared a dividend of ₹1.1 lakh per share, up 70%, as chairman N Chandrasekaran faces a crucial AGM on August 18 for his reappointment.
Finance RBI Deputy Governor Rohit Jain Calls for Wider Bond Market Access to Meet India's 2047 Goals
RBI Deputy Governor Rohit Jain said bond markets need more depth, not just scale, so that a wider range of enterprises can access market-based finance. Speaking at the Financial Institutions Leadership Conference, he emphasised that India's goal to become a developed economy by 2047 requires financial markets to mobilise substantially more long-term capital and distribute risk efficiently.
Business Rs 100 crore club gets bigger: Number of nine-figure income filers quadruples in five years
The Times of India reports that the number of income tax filers declaring income over Rs 100 crore has quadrupled over the past five years, signaling a rise in high-income earners in India.
Business New UK Chancellor Unveils VAT Cut, Bus Fare Cap, and Business Rates Relief for Hospitality
BBC's Money Box reports on Chancellor John Healey's immediate policy announcements including a VAT cut on household energy from October, a bus fare cap from January, and a 20% business rates reduction for pubs, clubs, and live music venues from April. The programme also highlights a water poverty study affecting nearly 2 million households and a survey showing over 80% of wealthier over-45s favour lifetime gifts over inheritance.
Commodities How Scrap Is at the Centre of India’s Changing Metals Growth Story
India's next metals growth cycle will be driven by recycling rather than mining, with scrap emerging as the industry's most strategic resource, according to a thematic report by Ashika Institutional Equities. The report highlights regulatory support, growing demand from electrification, and the shift from informal to organised recycling as key drivers.
Finance UK Mortgage Rates Rise to Highest Level in a Month as Global Tensions Persist
Average UK mortgage rates have risen to levels last seen a month ago, with the two-year fixed deal averaging 5.58%, as renewed Middle East tensions push up lenders' funding costs and oil prices to $100/barrel, reducing expectations of central bank rate cuts. Over five million homeowners are projected to see higher monthly repayments by end of 2028, according to the Bank of England.
Business Birmingham Michelin Chef Says Business Rates Cut 'Not Enough' for Struggling Restaurants
Michelin-starred chef Alex Claridge, owner of Birmingham's The Wilderness, says the government's 20% business rates reduction for pubs, social clubs, and live music venues does not go far enough and omits restaurants, cafés, hotels, and cinemas. He calls for a VAT reduction instead, warning that many independent hospitality businesses are barely breaking even despite full dining rooms.
UK Government to Cut Business Rates by 20% for Pubs, Clubs and Music Venues
The UK government has announced a 20% cut in business rates for pubs, clubs and live music venues in England from April, saving firms around £1,100 next year. The £100m cost will be funded by reviewing tax relief on vape shops and clamping down on online marketplace tax compliance. Industry figures welcome the move but caution it may not offset rising costs.
Business Resilient industrial and services sectors helped Indian economy sustain despite global pressures: RBI
The Reserve Bank of India (RBI) stated that the Indian economy has navigated global uncertainties well and remains among the fastest-growing major economies. Healthy domestic demand and resilient industrial and services sectors sustained momentum despite fragile geopolitics and supply-chain pressures. Foreign investment inflows recovered, while CPI inflation rose to an 18-month high of 4.4% in June.
Business Stormont Economy Minister Archibald Plans Storm Compensation Law Despite Regulator Opposition
Stormont Economy Minister Caomihe Archibald has directed officials to propose removing the severe weather exemption for compensation to households affected by power outages, despite the Utility Regulator's concerns that the costs could be passed to consumers. Northern Ireland is currently the only part of the UK without a compensation scheme for storm-related electricity disruptions. The move follows criticism after Storm Éowyn last year, when NIE Networks declined voluntary payments.
Business UK Inflation Holds at 2.6% as Bank of England Weighs Rate Path Amid Fuel and Food Price Shifts
UK inflation declined to 2.6% in the year to June 2026, slightly below expectations, driven by cheaper fuel and falling food prices. The Bank of England, with its base rate at 3.75%, faces a delicate balance as inflation remains above the 2% target and is expected to rise again. Businesses should monitor rate decisions that affect borrowing costs and investment.
Business UK Inflation Drops to 2.6% in June as Fuel and Food Prices Ease
UK inflation fell to 2.6% in the year to June 2026, down from 2.8% in May, driven by lower fuel and food prices, according to the Office for National Statistics. The data offers some respite for businesses and consumers, though inflation remains elevated.
Business Karnataka Sees Fastest FDI Rise Among Major States as Inflows Nearly Double to $13 Billion
Karnataka recorded the fastest FDI growth among major Indian states, with inflows nearly doubling to $13 billion in the last financial year, driven by tech investments and global capability centres. Maharashtra, the top destination, saw a dip, while Gujarat remained flat at $5.7 billion. Sector-wise, computer software/hardware and services led inflows.
Business Record 7.4m UK households struggle to afford essentials as cost-of-living crisis deepens
A record 7.4 million low-income households in the UK are struggling to afford essentials such as food, heating and clothing, according to anti-poverty charity Joseph Rowntree Foundation (JRF). Prime Minister Andy Burnham has pledged to cut VAT on electricity bills from October, but charities are calling for further measures.
Business Thames Water lenders offer 'golden share' to head off nationalisation
The L&VW consortium of lenders has proposed a golden share and greater local authority control to prevent Thames Water's nationalisation. The sweetened deal adds hundreds of millions of pounds to a previously rejected £10bn plan, which includes writing off nearly half of the company's debt.
UK government borrowing falls to £16bn in June, ONS data shows as Burnham unveils cost-of-living measures
UK government borrowing totalled £16bn in June, £7.9bn less than a year earlier, according to the ONS. The unemployment rate held steady. New Prime Minister Andy Burnham began setting out policies to cut household living costs.
Business India's Core Sector Grows 5% in June, Fastest in Five Months on Iron Ore Boost
India's expanded core sector grew 5% in June 2026, the fastest pace in five months, driven by a 43.9% surge in iron ore and 9.8% cement growth. Energy-intensive sectors such as crude oil, natural gas, and refinery products continued to contract, while fertiliser production fell for the fourth straight month. The data, based on a revised base year 2022-23, showed Q1 FY27 core sector expansion of 3.6%.
Business Era of Cheap Borrowing May Be Over as World Enters 'New Macro Regime,' Moody's Warns
According to a Moody's Ratings report, the global economy has entered a new macro regime marked by structurally higher interest rates, sustained investment in AI and defence, and elevated geopolitical risks. Bond yields have risen to pre-crisis levels, and capital is flowing to policy-backed sectors. The outlook hinges on AI productivity gains and stable geopolitical conditions.
Business 2026 FIFA World Cup Could Trigger $17 Billion Productivity Loss Worldwide, UKG Survey Finds
According to a UKG survey of 8,000 employees across eight countries, the 2026 FIFA World Cup could result in at least $17 billion in lost productivity globally, with the United States accounting for $11.7 billion. Key findings include 37% of employees adjusting work schedules, 27% missing work, and significant presenteeism. Office attendance dropped 26% in the US on the day after the national team's loss, according to Envoy.
Business Pakistan to Revise Fuel Prices Daily; Current Account Records $139 Million Deficit in FY26
Pakistan will revise petroleum prices daily instead of weekly to respond to volatile global oil prices driven by US-Iran tensions. The government also reported a current account deficit of $139 million for FY2025-26, reversing the previous year's surplus of $1.838 billion. The All Pakistan Petrol Pump Owners' Association has rejected the deregulation policy and warned of protests.
Business RBI Governor Malhotra Signals Patience on Inflation, Credit Growth Spurt
RBI Governor Sanjay Malhotra signaled the central bank is unlikely to tighten policy in response to elevated inflation and strong credit growth, attributing price pressures to supply-side factors and noting no immediate distress in fast-growing loan segments. CPI is projected at about 5.1% this year, slightly above target but driven by specific sectors.
Business NITI Index: Gujarat, Maharashtra Lead First Investment Friendliness Rankings
NITI Aayog released its first-ever Investment Friendliness Index, with Gujarat, Maharashtra, Tamil Nadu, Goa, and Odisha scoring above 50. The index, based on 90 indicators and investor feedback, aims to guide state-level investment policies. NITI vice chairperson Ashok Lahiri called it a performance indicator, not a race, urging states to act amid geopolitical volatility.
Business Gujarat Tops NITI Aayog's Investment Friendliness Index; Maharashtra, Tamil Nadu Follow
NITI Aayog released its Investment Friendliness Index, ranking Gujarat first (score 56.6), Maharashtra second (53.7), and Tamil Nadu third (53.3) among large states. The index assesses 28 states and eight Union Territories across eight pillars. The report aims to strengthen competitive federalism and promote an investment-friendly ecosystem.
Business India's current account deficit likely to widen to 1.5% of GDP in FY27 as higher oil prices weigh: Report
According to a Crisil report, India's current account deficit is expected to widen to 1.5% of GDP in FY27 from 0.6% in FY26, driven by higher crude oil and commodity prices. The forecast follows official trade data showing the merchandise trade deficit widening to $30.4 billion in June. Crude oil prices are expected to average $82-87 per barrel this fiscal.
India's Whole Cardamom Exports More Than Triple to $436.8 Million in 2025-26, Driven by Global Demand
India's exports of whole cardamom more than tripled in value to $436.8 million in 2025-26 from $131.9 million in 2023-24, according to Commerce Ministry data. Volumes more than doubled to 16,399 tonnes. Key markets include UAE, Saudi Arabia, and Bangladesh.
Business China GDP Growth Weakens, Durian Glut Spreads, and New York Targets AI Data Centres
According to the latest BBC Business Daily programme, China's economy recorded one of its weakest quarterly growth rates on record, raising fresh questions about the country's outlook and global economic impact. Separately, durian prices are tumbling across Asia, while New York is moving to target AI data centres.
Commodities Gold and Silver Slide as Rising Yields and Oil Price Surge Weigh on Precious Metals
Gold and silver prices fell sharply, with spot gold dropping 2% to around $3,984/oz and silver 3.6% to $55.68/oz, as rising US Treasury yields and higher crude oil prices dampened investor appetite. MCX silver shows technical recovery potential toward Rs 227,000 with support at Rs 218,000. Geopolitical tensions in the Middle East threaten oil routes, fueling inflation concerns and weighing on precious metals.
Business RBI’s Financial Inclusion Index Climbs to 70.0 in March 2026, Signaling Deeper Financial Engagement
The Reserve Bank of India (RBI) reported its Financial Inclusion Index (FI-Index) rose to 70.0 in March 2026 from 67.0 in March 2025, reflecting sustained progress in expanding financial services. The composite index, tracking 97 indicators, showed improvements across all three dimensions (Access 35%, Usage 45%, Quality 20%), driven primarily by higher usage of financial services including digital infrastructure, credit, and insurance.
Business Pricing, Not Volume, Drives India Inc in Q1; Crisil Sees 11-11.5% Revenue Growth Despite Supply Disruptions
India Inc's Q1 FY27 corporate revenue is estimated to grow 11-11.5% according to Crisil, driven by pricing rather than volume, a reversal from the past two years. Resilient domestic demand allowed companies to pass on higher input costs, while supply disruptions from the West Asia conflict impacted exporters and construction. Operating profit margins are expected to contract 75-100 bps.
UK Economy Returns to Modest Growth in May After April Contraction, ONS Reports
The UK economy grew by 0.1% in May, driven by the services sector, after a slight contraction in April attributed to the US-Israel war with Iran, according to the Office for National Statistics. In the three months to May, the economy grew 0.7% compared with the previous three-month period.
Business India's June Jobless Rate Holds at 5.5% as Female Unemployment Rises, Participation Slips
India's overall unemployment rate remained unchanged at 5.5% in June, according to the latest NSO PLFS data. However, female unemployment rose to 5.9% from 5.6%, while the female labour force participation rate slid for the fourth consecutive month to 32.7% due to a sharp decline in rural areas. Male unemployment edged down to 5.3%.
UK Employers Must Publish Salary Information in Job Ads Under New Government Plans
The UK Cabinet Office has proposed requiring employers to publish salary information in job adverts, aiming to improve transparency and reduce pay discrimination. The exact details—whether exact salary, range, or benchmark rate—will be determined after a consultation ending in October. The rules would apply in England, Wales, and Scotland, with Northern Ireland's stance pending.
Business South East Water ordered to pay £30.5m by Ofwat after supply failures
Ofwat has ordered South East Water to pay a £30.5m redress package after three investigations found repeated supply failures affecting hundreds of thousands of households in Kent and Sussex. The package includes £15m in customer compensation and improvement measures, and will be funded by shareholders. An independent monitor will oversee the company's performance improvement plan.
Finance India's Forex Reserves Surge $7.3 Billion to $674.2 Billion in Week Ended July 3
India's foreign exchange reserves increased by $7.3 billion to $674.2 billion in the week ended July 3, according to data from the Reserve Bank of India. The rise was fueled by a $4.5 billion jump in foreign currency assets and a $2.7 billion surge in gold holdings, the latter reflecting higher international gold prices. The buildup strengthens India's import cover and buffers against currency volatility.
Business Accenture leases over 10 lakh sq ft in Hyderabad in ₹1,000 crore office deal
Accenture Solutions Pvt Ltd has leased over 10 lakh sq ft of office space at Aparna Technopolis in Hyderabad, committing more than ₹1,000 crore in total rent over the lease term. The deal, one of the largest commercial office transactions this year, underscores sustained demand from global capability centres for premium office space in Hyderabad.
Finance Bank of England Chief Economist Says Interest Rates May Need to Rise This Year
Bank of England chief economist Huw Pill indicated that interest rates may need to rise this year to control inflation, currently at 2.8% above the 2% target. Pill was among a minority of MPC members voting for a rate increase in June. He cited lower economic speed limits and productivity slowdowns, particularly in Wales, as reasons for potential tightening.
Logistics Record Rail Freight Volumes Signal Strong Industrial Economy Through H2 2026
Rail freight is experiencing surprising strength in 2026, with record-breaking carloads and intermodal units, according to the Association of American Railroads (AAR). Broad-based growth across categories from chemicals to motor vehicles indicates a healthier industrial economy than many realize. Factors such as fuel prices, trucking capacity issues, and regulatory changes are positioning rail as a highly attractive option for shippers.
New Machine Learning Framework Creates Global Ease of Living Index for Major Economies
A new study presents a machine learning framework to create a Global Ease of Living Index, combining various socio-economic and infrastructural factors into a composite score for major economies since 1970. The index uses dimensionality reduction to address missing data and aims to help policymakers identify areas for improvement.