Topic
fiscal
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.
Logistics Indian Post Revenue Surges 22.2% in Q1 FY2026-27, Driven by Parcel Modernization and E-Commerce Partnerships
India Post reported a 22.2% year-over-year revenue increase to ₹4,008 crore in Q1 FY2026-27, marking the first double-digit growth in its history. The growth is attributed to parcel modernization and partnerships with major e-commerce platforms like Flipkart and Shiprocket, signaling enhanced last-mile delivery capacity for logistics operators.
Business GST Revenue Grows 13.9% in June to Rs 1.94 Lakh Crore, Driven by Import Taxes
India's gross GST collections rose 13.9% year-on-year to Rs 1,94,812 crore in June 2026, driven by a 34.6% surge in import-related tax revenue. Net GST after refunds increased 11.2% to Rs 1,62,377 crore. The Finance Ministry data also showed strong domestic growth of 6.5% and higher refund disbursements, signalling improving tax administration.
Business World Bank Report Reveals Pakistan's Deep Fiscal Faultlines in Provincial Spending
A World Bank report highlights severe fiscal disparities in Pakistan, where provincial capitals receive disproportionately higher public spending than their hinterlands. Quetta leads with a 475% gap, while local governance and audit failures compound the crisis.
Business UK May borrowing surges to £23.3bn, sparking warning over fragile public finances
The UK government borrowed £23.3bn in May, nearly a third more than a year ago and well above the OBR's forecast. Debt interest payments soared to a record £11.7bn. Economists caution that fragile public finances will constrain fiscal policy, amid a looming Labour leadership challenge.
Business Net direct tax collections rise nearly 15% to Rs 5.21 lakh crore; advance tax growth signals strong corporate earnings
India's net direct tax collections rose 14.64% to Rs 5.21 lakh crore as of June 17 in FY27, driven by strong corporate advance tax (up 16%) and securities transaction tax (up 45%). The government is on track to meet its FY27 direct tax target of Rs 26.97 lakh crore.