India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Chartered accountant associations and tax lawyers have urged the government to extend income tax return (ITR) and audit deadlines for the assessment year (AY) 25-26, citing ongoing issues with the e-filing portal and delays in form releases. New Delhi, Chartered accountant associations and tax lawyers have urged the government to extend income tax return (ITR) and audit deadlines for the assessment year (AY) 25-26, citing ongoing issues with the e-filing portal and delays in form releases. The
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
New Delhi [India], January 21 (ANI): The Centre is expected to continue its fiscal consolidation efforts in FY26, with a fiscal deficit target of 4.5 per cent of GDP, according to a report by Emkay Research. For FY25, the report noted that the fiscal deficit is estimated to track close to 4.7 per cent, while states are likely to record a fiscal deficit of 3.2 per cent of GDP. It said "we do not see the Centre deviating from its consolidation path in FY26, and is likely to target 4.5 per cent GFD/GDP. States, on the other hand, are likely to now hug the 3 per cent of GDP target (+/-0.2 per ce ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
Jaipur: Considered one of the toughest professions, the Aakad family of Rajasthan's Jaipur espoused it not just as a profession but as a legacy. The family has 15 members who are CAs with expertise in the financial sector. This Chartered Accountants' Day, which is celebrated by the Institute of Chartered Accountants of India (ICAI) on July 1, ETV Bharat narrates the story of a CA family. Started with Raghav Krishna Aakad, the journey is being carried forward by his successors, in a rare instance of confluence of professional dedication and family devotion. Some family member handles GST while ...Read More >
Chandigarh, Jul 1 (PTI) Punjab registered a record 44.44 per cent growth in net goods and services tax collections at Rs 2,379.90 crore in June 2025, said Finance Minister Harpal Singh Cheema on Tuesday. Addressing the media here, Cheema said Punjab outpaced the national average in GST collection growth, firmly positioning itself among the top-performing states in tax mobilization despite facing national and geopolitical challenges, including border-related tensions. Also Read | Who Is PVN Madhav? Here's Everything You Need To Know About the Newly Appointed Andhra Pradesh BJP President. The ...Read More >
Mumbai: Two days ahead of the Maharashtra government formation, top sources have said that Eknath Shinde's Shiv Sena is likely to be allotted eight portfolios including the Urban Development Ministry. Sources also said that Ajit Pawar's NCP will retain the Finance Ministry. Sources have further said that there is no dispute between Shiv Sena and the BJP over the Chief Minister's which is yet to be revealed by the Mahayuti alliance. Meanwhile, reports are doing the rounds that Sena wants swearing in of its ministers on December 5 itself, along with oath taking of Chief Minister and Deputy Chie ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
Mumbai: The Nifty PSU Bank Index jumped more than 2.5% Monday after the finance ministry urged these lenders to offer more credit and monetise subsidiaries through IPOs and stake sales. They bucked the declines in the rest of the banking space. The Nifty PSU Bank Index gained 2.7%, while the Bank Nifty and benchmark Nifty lost 0.2% and 0.5%, respectively. All 12 stocks in the PSU Bank index closed higher. Bank of Maharashtra soared 5.3% while Punjab National Bank and Bank of Baroda rallied 3.9% and 3% respectively. Union Bank, Canara Bank, UCO Bank and Indian Bank gained over 2.5% each. Anal ...Read More >
New Delhi [India], July 2 (ANI): The Reserve Bank of India (RBI) has appointed Kesavan Ramachandran as Executive Director of RBI with effect from July 1. 'As Executive Director, Kesavan Ramachandran will look after Department of Regulation (Prudential Regulation Division),' said the central bank in the statement. Prior to being promoted as Executive Director, Kesavan Ramachandran was serving as Principal Chief General Manager in Risk Monitoring Department. Ramachandran has experience of over three decades in areas relating to currency management, Banking and Non-Banking supervision, training ...Read More >
Bengaluru: Fugitive liquor baron Vijay Mallya approached the Karnataka High Court on Wednesday seeking direction to banks to provide details of the total amount recovered against loans obtained by him, United Breweries Holdings Limited (UBHL, now in liquidation). Considering the plea, the High Court has issued notices to concerned banks in this regard. The bench headed by Justice R. Devadas passed the order issuing notices to banks, and recovery officers and adjourned the matter till February 19. Senior counsel Sajan Poovayya appearing for Vijay Mallya submitted to the court that the loan a ...Read More >
New Delhi, Jun 27 (PTI) Chartered accountants' apex body ICAI is bullish on the growing global capability centres in the country and expects their number to cross 5,000 in the next two years. Global Capability Centres (GCCs) will benefit the chartered accountants as they offer various services, ICAI President Charanjot Singh Nanda said on Friday. "India is an attractive destination for GCCs," he said and added that currently, there are around 80,000 chartered accountants employed at the GCCs. There are more than 1,700 GCCs in the country. At a briefing, Nanda said the number of GCCs is exp ...Read More >
New Delhi, December 4: In a significant move to enhance customer experience and protect citizens, the Lok Sabha on Wednesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts. The higher number of nominees aims to reduce unclaimed deposits in banks. Finance Minister Nirmala Sitharaman said that depositors will have the option of successive or simultaneous nomination facility, while locker holders will have only successive nominations. Another sweeping change relates to redefining 'substantial interest' for directors ...Read More >
New Delhi, May 23 (PTI) The GST Council is likely to meet soon to discuss rate simplification and rationalisation and the future of compensation cess, according to a source. "There are three or four different aspects relating to making GST simpler. We will take up the issue of compensation cess, rate rationalisation and simplification," the source said. The GST Council, chaired by Union Finance Minister and comprising state counterparts, in its meeting in December last year, did not take up the GoM reports on rate rationalisation and rate reduction in health and life insurance. The two GoMs ...Read More >
Hyderabad: National Chartered Accountants Day, or CA Day, is a yearly celebration on July 1 to honour the founding of the Institute of Chartered Accountants of India (ICAI) in 1949. This day is very important for the accounting and finance community in India because it recognises the vital role chartered accountants have in the country's economy and finance. This year marks the 76th anniversary of The Institute of Chartered Accountants of India (ICAI), which is the main authority for accounting and financial auditing in India. It is one of the oldest and most respected financial organisations ...Read More >
New Delhi [India], July 2 (ANI): The Reserve Bank of India (RBI) has appointed Kesavan Ramachandran as Executive Director of RBI with effect from July 1. "As Executive Director, Kesavan Ramachandran will look after Department of Regulation (Prudential Regulation Division)," said the central bank in the statement. Also Read | India Developing Its Own Bunker-Buster Missile? Reports Say DRDO Modifying Agni-5 ICBM To Carry Massive Conventional Warhead. Prior to being promoted as Executive Director, Kesavan Ramachandran was serving as Principal Chief General Manager in Risk Monitoring Department ...Read More >
Mumbai, Dec 3 (PTI) Maharashtra's caretaker Chief Minister Eknath Shinde on Tuesday visited a private hospital in Thane for a "check-up," two days before a new CM is sworn in at an open ground ceremony in south Mumbai. Even as it is not known yet who would take oath as chief minister at Azad Maidan on the evening of December 5, preparations are in full swing for the ceremony, to be attended by Prime Minister Narendra Modi, about 2,000 VVIPs and some 40,000 supporters. Shinde, who had been staying at his private residence in Thane for the last few days, visited the hospital in the morning. "I ...Read More >
Bengaluru: Ex-Karnataka Chief Minister and former External Affairs Minister SM Krishna died here early on Tuesday, leaving behind a rich legacy of statesmanship and public service that saw the 92-year-old leader scale all heights of political achievements. Suave, sophisticated and a man with enviable academic credentials, Somanahalli Mallaiah Krishna started off his political innings as an independent MLA from Maddur in 1962, stunning a then Congress veteran in the elections, and went on to become the state's CM and later the country's External Affairs Minister. Tributes poured in for the fo ...Read More >
New Delhi, January 31: The unveiling of the Economic Survey on Friday sets the stage for Finance Minister Nirmala Sitharaman to present the Union Budget for 2025-26 in Parliament on Saturday (February 1), which is expected to continue the government's policy of giving a big push to economic growth with equity. The government has prioritised improving the quality of life in rural areas to ensure equitable and inclusive development, according to the Economic Survey 2024-25. The survey highlights financial inclusion as a key focus, with rural households and small businesses getting easier access ...Read More >
HYDERABAD: Refuting the allegations of the Opposition BRS that the Congress government failed to stop the Andhra Pradesh government's proposed Godavari-Banakacherla project, Irrigation Minister N Uttam Kumar Reddy on Friday declared that "we are ready for any kind of fight" against AP's project. Speaking to reporters here, Uttam said that the state government has already written letters to Jal Shakti Minister CR Patil and Union Finance Minister Nirmala Sitharaman opposing the project. "After our representation, Union Minister CR Patil in a letter assured us that the G-B project will be exami ...Read More >
Kolkata : The much-anticipated CA Students' National Conference 2025, jointly hosted by the Eastern India Chartered Accountants Students' Association (EICASA) and the Eastern India Regional Council (EIRC) of ICAI, commenced today at the Biswa Bangla Convention Centre, New Town, Kolkata, amidst great enthusiasm and inspiration. The inaugural ceremony was graced by Dr. Sukanta Majumdar, Hon'ble Minister of State for Education, Government of India; Mr. Harsh Vardhan Agarwal, Vice Chairman & MD, Emami Ltd. as Guest of Honour, CA Vishnu K. Tulsyan, Chairman, EIRC and CA Mayur Agrawal, Chairman, EI ...Read More >
Haridwar: Bharatiya Janata Party (BJP) MP Sakshi Maharaj on Sunday demanded that hotel, dhaba and eatery owners on the Kanwar Yatra routes should display their names and identities on boards outside their business establishments. The owners, who hide their identities under fake names, on the Kanwar Yatra routes should not be spared, he told reporters here. "Tampering with faith of the Hindu devotees during the Kanwar Yatra will not be tolerated," said the Unnao MP. The food shops on the Kanwar Yatra routes should have a board outside with the names of their owners clearly written on them, h ...Read More >
Mumbai: Senior BJP leader Ravindra Chavan is all set to become the next Maharashtra BJP chief as he filed his nomination for the post of party's state president on Monday. Mr. Chavan presented the nomination forms to Union Minister Kiran Rijiju, who has been appointed as a central observer for the elections by the BJP. Maharashtra Chief Minister Devendra Fadnavis and outgoing party chief Chandrashekhar Bawankule were present on this occasion. With no other nomination being filed for the post, Mr. Chavan is certain to become the next state president of Maharashtra BJP, said party leaders. The ...Read More >
NEW DELHI, Dec 13 (Reuters) - India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday. The writer of the best-selling book "Capital in the 21st Century" called on India to follow through on a July pledge by finance ministers from the Group of 20 major economies to cooperate on effectively taxing the world's largest fortunes. "India should be active in taxing the rich," Piketty said at an event organised by Delhi-b ...Read More >
New Delhi: The GST Council will soon decide on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday. Currently, Goods and Services Tax (GST) is a four-tier tax structure with slabs at 5, 12, 18 and 28 per cent. Luxury and demerit goods are taxed at the highest bracket of 28 per cent, while packed food and essential items are in the lowest 5 per cent slab. The Council, chaired by Sitharaman and comprising her state counterparts, has set up a group of ministers (GoM) to suggest changes in GST rates as well as reduce slabs. "To ...Read More >
New Delhi [India], June 30 (ANI): States and Union Territories combined will raise about Rs 2.86 lakh crore from markets in the quarter July-September 2025, the Reserve Bank of India (RBI) has indicated. The expected market borrowing plans have been decided upon by the RBI after consulting with the State Governments/Union Territories. On July 1, Rs 18,100 crore is proposed to be borrowed - Andhra Pradesh (Rs 2,000 crore), Assam (Rs 900 crore), Gujarat (Rs 1,000 crore), Himachal Pradesh (Rs 1,200 crore), Kerala (Rs 2,000 crore), Maharashtra (Rs 6,000 crore), Rajasthan (Rs 500 crore), Tamil Na ...Read More >
Pune: State govt is set to conduct a comprehensive verification of beneficiaries under the Mukhyamantri Mazhi Ladki Bahin Yojana, leveraging income tax return data from the Central Board of Direct Taxes (CBDT) to ensure that the monthly Rs 1,500 aid reaches only economically weaker women.A notification issued by the CBDT on June 3 authorises the secretary of the state women and child development (WCD) department to access income tax (I-T) data under Section 138 of the Income Tax Act, 1961. The department has already formed a team to review the existing list of 2.5 crore applicants. Officials s ...Read More >
New Delhi: The second match of the five-match Test series between India and England will be played at Edgbaston in Birmingham. It will start on July 2. In this Test, Shubman Gill has a chance to create history. Actually, the Indian team has not been able to win on this ground so far. Team India played the first match on this ground in 1967. Be it Virat Kohli or Dhoni or Dravid or Sourav Ganguly, no Indian captain has won here in 58 years. However, Gill will have a chance to get his name registered in the history books. If he manages to end the drought of 58 years, he will become the first Indi ...Read More >
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Bengaluru Crime: A woman's body, believed to be between 30 and 35 years old, was found stuffed inside a sack and dumped in a garbage truck in Bengaluru early Thursday. The identity of the woman is yet to be confirmed. Police said the sack was discovered by BBMP sanitation workers who immediately alerted the authorities. The body was found with her hands and neck tied, raising strong suspicion of murder. Officials stated that the body had been placed inside a gunny bag before being thrown into the garbage vehicle. Joint Commissioner of Police, C Vamsi Krishna, confirmed that the body has been ...Read More >
Bengaluru, Dec 3 (PTI) The Karnataka High Court on Tuesday quashed a criminal case registered against former state BJP president Nalin Kumar Kateel for allegedly extorting money and pressuring business entities to buy electoral bonds. Justice M Nagaprasanna passed the order while allowing the petition filed by Kateel. Also Read | CII Partnership Summit 2024: S Jaishankar Calls for Stronger Global Partnerships as India Faces Growing Challenges. The FIR was registered by the Bengaluru police based on a complaint lodged by Adarsh R Iyer, a city-based activist. The FIR was also registered agai ...Read More >
Mumbai, Feb 7 (PTI) Reserve Bank Governor Sanjay Malhotra on Friday said India can certainly achieve over 7 per cent growth rate and the nation should aspire for that. The Reserve Bank of India (RBI) in its bi-monthly monetary policy has projected 6.7 per cent growth for financial year 2025-26, up from 6.4 per cent estimated for the current fiscal. "I would like to stick my neck out and say that, certainly India can achieve a 7 per cent and plus growth rate. We should certainly aspire for that," he said when asked whether there was a possibility of the Indian economy growing at a faster pace ...Read More >