Business Standard

Canadian Prime Minister Mark Carney had previously said during a trip to New Delhi in March that the two countries would aim to agree a free trade pact by the end of the year

Aadhaar biometric authentication will be required for consumers to receive subsidy on domestic LPG refills from October 1, 2026, the government said on Saturday

National Security Advisor (NSA) Ajit Doval said on Saturday that India's GDP would increase from the current USD 4.015 trillion to USD 38 trillion in the next 20 years. Addressing the convocation ceremony of the Indian Institute of Technology (IIT) Roorkee as the chief guest, Doval said that the students are fortunate to be living in a transformative era where their future holds great promise. Citing the example of Lord Ram, the NSA urged students to be courageous in their lives. He said that sa

Net direct tax collections rose 13% to 12.12 trillion, with corporate tax and STT driving growth despite a sharp rise in refunds

N K Singh says unfavourable geopolitics and exogenous circumstances could make debt adjustment harder, while urging states to prepare consolidation roadmaps

Achieving India's 'Viksit Bharat' vision will require critical private sector investment, as public expenditure alone cannot bridge the massive financing gap, Economic Affairs Secretary Anuradha Thakur said on Friday. Speaking at a conference of finance ministers and finance secretaries of states and Union Territories, Thakur highlighted the sovereign rating upgrades from major international rating agencies received by India over the past one-and-a-half years, and said such global recognition un

The decline came after reserves posted their biggest-ever weekly increase of $44.9 billion, driven by strong foreign currency inflows under the RBI's swap window

Outbound equity FDI commitments rose to $1.14 billion in August, while guarantees for overseas units increased to $2.23 billion from $1.2 billion a year earlier

Concerns that introducing a Merchant Discount Rate (MDR) would spur a surge in cash transactions are unlikely to materialise, RBI Deputy Governor Shirish Chandra Murmu said on Friday, adding that it was only an initial apprehension. From October 15, a 0.4 per cent MDR will apply to person-to-merchant UPI payments above Rs 2,000. The charge will be paid by merchants, not consumers, and will be capped at Rs 300 for transactions of Rs 75,000 or more. Payments between individuals, as well as the vas

Moody's cites stronger-than-expected economic activity and resilience to the West Asia conflict, but warns elevated energy prices could push inflation above its forecast

The tax department has also given valuers and authorised income-tax practitioners six more months, until March 31, 2027, to complete their registration

RBI's Housing Price Index rose 3.6 per cent in Q1FY27, with Chandigarh, Jaipur, Kanpur, Lucknow and Thiruvananthapuram recording the strongest gains

The Reserve Bank of India (RBI) on Friday absorbed Rs 2.23 lakh crore from the banking system amid surplus liquidity by conducting a variable rate reverse repo (VRRR) auction. The central bank received bids worth Rs 2,22,629 crore, which it accepted fully, for a notified amount of Rs 2.25 lakh crore. The amount was accepted at a weighted average rate of 5.24 per cent, the RBI said in a release. The RBI has been conducting VRRR auctions since last month in order to absorb excess liquidity from th

The government's net direct tax collection rose 13 per cent to over Rs 12.12 lakh crore till September 17 of the current fiscal on higher advance tax mop-up, according to the latest data released on Friday. Corporate tax mop-up grew 19.48 per cent to about Rs 5.56 lakh crore, while non-corporate tax (individuals and HUFs) mop-up increased 6 per cent to over Rs 6.16 lakh crore. Securities Transactions Tax (STT) collection grew 53 per cent to Rs 40,214 crore between April 1 and September 17. Refun

India ranked as Asia-Pacific's top improver in GRETI 2026, helped by stronger regulation, digitised land records, deeper Reit markets and rising sustainability disclosures

The frictions in Russia's wartime economy are growing, as massive military spending balloons the budget deficit. Consumers and businesses are gloomier. Growth has slowed. None of that, however, signals an imminent financial crisis or economic collapse, economists say. With crucial oil export revenues holding up due to high prices from the Iran war, the government is able to find the money to pay for its four-and-a-half-year-old invasion of Ukraine, at least for now. Meanwhile, low unemployment a

The rupee rebounded from over two-month low levels, gaining 16 paise to 95.73 against the US dollar in early trade on Friday, buoyed by a buying trend in domestic equity markets and easing crude oil prices overseas. Forex analysts said the retreat of crude prices below the 104-per-barrel level from a steep rise earlier this week eased pressure on the Indian currency, even as US bond yields fell from record highs after the US Federal Reserve hiked interest rates by 25 basis point. At the interban

The agency said elevated energy prices and El Nio-related food price pressures pose risks to inflation, consumption and growth

The facilities from the National Bank for Financing Infrastructure and Development, or Nabfid, have a moratorium of as much as five years, with repayment over the following 10 years

The Finance Ministry will organise a two-day conference of finance ministers and finance secretaries of states and Union Territories with legislature here on September 18-19 to deliberate policy priorities for India's development journey towards Viksit Bharat. Finance Minister Nirmala Sitharaman will attend the conference, which will bring together several chief ministers and finance ministers of states along with senior state government officials, the ministry said in a statement. The conferenc

The central bank sold Rs 50,000 crore of government securities in the first of three OMO tranches planned for September to absorb surplus liquidity from the banking system.

India's petroleum exports rose 46 per cent year-on-year as better terms of trade, recovering volumes and shipments to newer markets boosted overall merchandise export growth

New UPI charges on high-value merchant payments are raising concerns among Delhi retailers, with some considering a shift towards cash to protect margins

The two-day conference will discuss GST 2.0, the macroeconomic outlook and financing for agricultural transformation, energy transition and Viksit Bharat

Indian bond traders expect the central bank to step up bond sales for liquidity absorption, as policymakers likely seek to strengthen transmission of expected rate hikes

India's central bank sold 50000 crore ($5.2 billion) of bonds under its open market operations program as it stepped up efforts to drain surplus cash from the banking system

New Delhi [India], September 17: CBRE was the top-ranked firm for commercial real estate investment sales in India during the first half of 2026, according to MSCI Real Assets.

US lawmakers' push to name India in a Russia sanctions bill puts its Russian oil purchases back in focus. Here's how the trade has changed since Moscow's invasion of Ukraine

The Reserve Bank of India (RBI) on Thursday absorbed Rs 2.40 lakh crore through variable rate reverse repo (VRRR) auctions from the banking sector amid huge surplus liquidity. The central bank received bids worth Rs 2,39,959 crore, which it accepted fully, at a cut-off and weighted average rate of 5.24 per cent. The RBI has been, since last month, doing various VRRR auctions in order to absorb excess surplus liquidity from the banking system and align the overnight money market rates to the repo

The Indian rupee may need to weaken further to align with shifting trade fundamentals and relatively weaker productivity gains from AI, according to an Axis Bank assessment

Assocham said the new UPI MDR framework for high-value merchant payments will support investment in technology and infrastructure, while helping expand UPI acceptance across the country

Fuel and fertiliser disruptions from the Iran war, alongside El Nio-linked weather extremes, are threatening crops and could worsen food inflation across vulnerable Asian economies

The legislation, passed by the House in a 262-159 vote after Senate approval, gives Donald Trump power to target major Russian energy buyers with tariffs of up to 100 per cent

Export duty on diesel has been reduced to 20 per litre from 25, while levies on petrol have been cut to 0.5 from 1.5 per litre, respectively

The US House of Representatives passed a bill that would authorise President Donald Trump to impose sanctions on Russia and steep tariffs on its trading partners in oil and gas, including India and China. The Lindsey O Graham Sanctioning Russia and Iran Act of 2026, passed by the US Senate last month, was approved by the House in a 262-159 vote on Wednesday evening and will now go to Trump to be signed into a law. Besides 203 Republicans, 58 Democrats and one Independent voted in favour of the l

Finance Ministry rejects claims of US pressure behind UPI MDR, as Opposition parties and trader groups demand reconsideration of the new merchant fee

Government raises EPF wage ceiling to 25,000 from 15,000, expanding mandatory social-security coverage to over 51 lakh additional employees

Industry body says the charge could drive small merchants back to cash, weaken formalisation and undermine digital payment adoption during the festive season across India.

The Merchant Discount Rate (MDR) charges on UPI transactions above Rs 2,000 could push small merchants and price-sensitive consumers back towards cash, economic think tank GTRI said on Wednesday. Effective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4 per cent MDR with an overall cap of Rs 300. Besides, a flat concessional MDR of Rs 5 would be applicable on specific merchant categories such as railways, telecom services, insurance, and fuel for transaction above R

The government has said the MDR will apply within the merchant payment ecosystem and will not be charged to consumers

The finance ministry on Wednesday clarified that there was no foreign influence behind the decision to impose 0.4 per cent Merchant Discount Rate on UPI transactions above Rs 2,000. The clarification follows accusations by some Opposition parties, including the Congress, that the government succumbed to US pressure in taking the decision to impose the Merchant Discount Rate (MDR). Some claims suggest the change is due to foreign influence. This is false. India's UPI policy decisions are made ind

Merchants would have to pay 18 per cent GST on the Merchant Discount Rate (MDR) charges for UPI payments above Rs 2,000, but can claim input tax credit (ITC), thereby easing the overall tax burden, tax experts said on Wednesday. Effective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4 per cent merchant discount rate with an overall cap of Rs 300. Besides, a flat concessional MDR rate of Rs 5 would be applicable on specific merchant categories such as railways, tele

CBIC Chairman Vivek Chaturvedi says AI, machine learning and real-time analytics can lower transaction costs and help create a near-touchless customs system for businesses

Finance Minister Nirmala Sitharaman says the GST Council will discuss e-invoicing, input tax credit rules and other process reforms during its October 7 meeting

The proposal is expected to bring more than 5.1 million additional employees under mandatory EPFO coverage

The Bureau of Indian Standards has revised hallmarking charges for gold and silver articles, raising the fee for gold to Rs 75 from Rs 45, while retaining the charge for silver at Rs 35, with immediate effect ahead of the festive season. The increase has been notified through the BIS (Hallmarking) Amendment Regulations, 2026, dated September 14, 2026. Under the amended Schedule IV, jewellers are required to pay a hallmarking fee of Rs 75 per article, subject to a minimum charge of Rs 200 per con

Union Finance Minister Nirmala Sitharaman on Wednesday urged the International Tax Research and Analysis Foundation (ITRAF) to make its independent tax policy research more visible and contribute directly to policymaking and public discourse. Addressing the Eighth International Tax Conference on 'New Age Taxation' organised by ITRAF here, Sitharaman said India had professionals and experts of the highest calibre in taxation but needed stronger institutional platforms to bring their expertise tog

The commerce ministry sought 23,000 crore ($2.40 billion) from the finance ministry under the programme for 2026/27

UPI MDR has sparked a debate among major fintech players, with some calling it necessary for sustainability while others question the cost burden on merchants and businesses

The government is putting a price for merchants using its flagship digital payment network to accept large transactions - a shift that follows years of warnings from the payment industry that the annual subsidy budgeted for the Unified Payments Interface (UPI) never came close to covering the real cost of running it. From October 15, a 0.4 per cent Merchant Discount Rate (MDR) will apply to person-to-merchant UPI payments above Rs 2,000. The charge will be paid by merchants, not consumers, and w