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.
Chennai, May 22 (UNI) Tamil Nadu Finance Minister Thangam Thennarasu on Thursday said the nine rigid guidelines imposed by RBI on gold loans was deeply insensitive and urged it to withdraw the new restrictions as it would grvely affect the poor nd middle class who depend on such loans during emergencies. These measures amounted to systematic injustice against the vulnerable and said the RBI should adopt compassionate people-centric policies, he said. In a post on X, he said "I urge the RBI to immediately withdraw the newly imposed restrictions on gold loans." "Reducing the loan-to-value ratio to 75% and burdening borrowers with excessive documentation gravely affects poor and middle-class families who depend on such loans during emergencies", Mr Thennarasu wrote. "At a time when people are still reeling from the earlier rule that disallows re-pledging until full repayment, the introduction of 9 more rigid guidelines is deeply insensitive", he said. "These measures amount to systemic injustice against the vulnerable. The RBI must adopt compassionate, people-centric policies", he added. UNI GV 1350
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: Finance Minister Nirmala Sitharaman highlighted on Thursday that the unified payments interface (UPI) platform processed 754 million payments worth Rs 1.02 lakh crore on October 18, marking the highest single-day tally, as consumer demand surged due to the GST rate cuts. During the three-day period between Dhanteras and Diwali, the average UPI volumes stood at 736.9 million -- higher than 647.46 million in the corresponding period a month ago, the Finance Minister said. "It has been a cracker of a Diwali for retailers this year as GST rate cuts have boosted consumption, enabling t ...Read More >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at 6.5 per cent since February 20 ...Read More >
Vijayawada, Sep 15 (UNI) Andhra Pradesh Chief Minister N Chandrababu Naidu has appealed to the Centre to support aqua farmers in Andhra Pradesh who are facing severe distress due to US-imposed tariffs. The Chief Minister urged the union Government to take decisions at the national level to protect aqua farmers from losses and requested measures to increase domestic consumption of aqua products. To this end, he has written separate letters to union Finance Minister Nirmala Sitharaman, Commerce & Industry Minister Piyush Goyal and Fisheries Minister Rajeev Ranjan Singh. Naidu requested the Fi ...Read More >
New Delhi [India], September 26 (ANI): Prime Minister Narendra Modi on Friday paid tribute to Former Prime Minister Manmohan Singh on his 93rd birth anniversary, recalling his contributions to the nation during his years in public life. In a post on X, Modi wrote, "Tributes to former PM Dr. Manmohan Singh Ji on his birth anniversary. We recall his contributions to our nation during his long years in public life." Born on September 26, 1932, Manmohan Singh was an eminent economist and served as the Reserve Bank of India Governor from 1982 to 1985. Between 1991 and 1996, Singh served as India' ...Read More >
New Delhi, Sep 26 (SocialNews.XYZ) Top Congress leaders and the party on Friday paid glowing tributes to former Prime Minister, late Dr. Manmohan Singh on his birth anniversary, recalling his long years of service and contributions to the nation's progress as the "gentle architect of India's economic transformation." Leader of Opposition in the Lok Sabha and Congress MP Rahul Gandhi paid tributes to the departed leader on his X handle and posted a picture of the late leader. "My respectful tribute to former Prime Minister of India Dr. Manmohan Singh ji on his birth anniversary. His unwaverin ...Read More >
New Delhi, Sep 26 (PTI) Congress president Mallikarjun Kharge and former party chief Rahul Gandhi on Friday paid homage to former prime minister Manmohan Singh on his birth anniversary. They remembered him as a man of humility and wisdom, and for his historic contribution to building a strong economy. In a post on X, Kharge said they remember the contribution of Singh in nation-building. He was a gentle architect of India's economic transformation. "A man of humility and wisdom, he carried himself with quiet dignity, letting his actions speak louder than his words. His vision of economic re ...Read More >
CHENNAI: Finance Minister Thangam Thennarasu on Thursday informed the Assembly that the state debt had increased by 128% during the previous AIADMK regime, but the present DMK government severely curtailed the debt and brought it down to 93%. During a debate on the supplementary estimates, the minister criticised the union government's decision to rationalise GST rates, pointing out that such measures would significantly reduce the revenue share due to the states. Responding to AIADMK member P Thangamani's remark that the rationalisation of GST rates would drastically cut down the state's ta ...Read More >
Chennai: Mounting a scathing attack on the BJP-led Centre on Saturday, Tamil Nadu Chief Minister MK Stalin accused it of political discrimination and undermining the federal spirit of governance. His remarks came a day after state finance minister Thangam Thennarasu, during Assembly discussions on the first supplementary demands for grants, alleged that the Centre had persistently shown "political bias" against Tamil Nadu by withholding funds meant for education, welfare, and infrastructure projects. Asking some questions on the microblogging platform X, Stalin said not just Thennarasu but " ...Read More >
Chandigarh, Mar 30 (UNI) Punjab Finance, Planning, Excise, and Taxation Minister Advocate Harpal Singh Cheema on Monday said a massive tax evasion racket has been unearthed within the state's hospitality sector, totalling approximately Rs 200 crore. Addressing a press conference at Punjab Bhawan, the Minister revealed a deep-rooted and systemic trend of under-reporting income among dhabas, restaurants, fast-food outlets, and small eateries. Under the leadership of Chief Minister Bhagwant Singh Mann, the state government has launched a technology-driven crackdown, bringing 882 establishments u ...Read More >
Guwahati, Mar 31 (UNI) Pledging to enforce a Uniform Civil Code (UCC) within three months and end 'Love Jihad' and 'Land Jihad', the ruling Bharatiya Janata Party (BJP) on Tuesday released its manifesto for the upcoming Assam Assembly polls. The document, christened "Sankalpa Patra", also promises to pump in Rs 5 lakh crore to elevate Assam as the country's Eastern Gateway. The "Sankalpa Patra", containing 31 promises, was released by union Finance Minister Nirmala Sitharaman in the presence of Assam Chief Minister Himanta Biswa Sarma here. In one of its headline pledges, the saffron outfit ...Read More >
CHENNAI: The short-duration winter session of the State Assembly on Tuesday began with the House paying homage to 41 people who lost their lives in the Karur stampede two weeks ago. Assembly Speaker M Appavu adjourned the proceedings after paying homage to sitting AIADMK MLA T K Amul Kandasami, who passed away on June 21. Moving a condolence resolution to honour those who died in the Karur stampede, the Speaker said Chief Minister M K Stalin had rushed to Karur on the same day and met the famil ...Read More >
NEW DELHI: As Congress MP from Sivaganga Karti P Chidambaram said there was a need for a new political party focused purely on urban issues, which avoids emotive issues like religion, caste and language, Congress leadership chose not to make any official comment.Seniors in the party said it was best to ignore the remarks, with one jibing that no one was losing sleep over remarks made either by former Union finance minister P Chidambaram in May on the state of the INDIA bloc or now by his son Kart ...Read More >
Gross Goods and Services Tax (GST) collections rose 7.5 per cent year-on-year to Rs 1.96 lakh crore in July (for sales in June), data released by the government on Friday showed. Even though the pace of growth in gross GST collections picked up to 7.5 per cent in July from 6.2 per cent, this is the second consecutive month wherein the growth rate has been in single digits and much lower after posting double-digit growth in the first two months of the ongoing financial year. ARTICLE CONTINUES BELOW VIDEO Net GST collections, after accounting for refunds, took a hit by growing by just 1.7 per ...Read More >
CHENNAI: Finance Minister Thangam Thennarasu on Friday vehemently criticised the union government for 'betraying' Tamil Nadu in the allocation of funds for various schemes, including for the centrally sponsored ones, due to 'blatant political prejudice'. Responding to the discussion on the demands for grants for supplementary estimates for the current financial year, the minister said it was his duty to inform the House how the union government has consistently shortchanged Tamil Nadu and how it caused the underlying revenue deficit in the state. Stating that the GST reforms were introduced ...Read More >
Tamil Nadu Chief Minister M.K. Stalin on Saturday (October 18, 2025) raised several questions to the BJP-led Union government, a day after State Finance Minister Thangam Thennarasu alleged in the Assembly that Centre has consistently shown "a political bias" against Tamil Nadu by withholding funds meant for education and social welfare projects and by not sanctioning infrastructure projects to the State. Replying to discussions on the first supplementary demands for grants in the Legislative Assembly, Mr. Thennarasu, while pointing out various issues, had asked whether the Centre's actions we ...Read More >
Minister for Finance Thangam Thennarasu on Wednesday (December 17, 2025) said the Chief Minister M.K. Stalin-led government's visionary and long-term outlook, new industrial policies, and robust fiscal management have helped Tamil Nadu achieve new heights in its economic growth rate. Speaking to reporters at the Secretariat in Chennai, Mr. Thennarasu said, according to Reserve Bank of India (RBI) data, Tamil Nadu's Gross State Domestic Product (GSDP) at current prices increased from ₹26.88 lak ...Read More >
Chandigarh, April 8 (UNI) The Punjab and Haryana High Court on Wednesday issued a landmark directive to the Punjab government, ordering it to grant dearness allowance (DA) to state government employees and pensioners at par with IAS, IPS, and judicial officers. The court has set a strict deadline of June 30 for the disbursement of all pending arrears, dismissing the state government's plea regarding its strained financial health. This decision is expected to benefit approximately 3.5 lakh regular employees and over 4 lakh pensioners across the state. During the proceedings, the court noted a ...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 >
Thiruvananthapuram, July 1 (UNI) The Thiruvananthapuram GST Zone has achieved significant milestones in revenue growth and detection in tax evasion. The enforcement and audit wings detected tax evasion worth ₹580 crore in 2024-25, showcasing the zone's efforts in ensuring compliance. The enforcement and the audit wings of the Thiruvananthapuram Zone of Central Tax, Excise and Customs have lodged cases involving tax evasion worth Rs 580 crore in the year 2024-25. The Zone's GST revenue in the first two months of FY 2025-26 registered an impressive growth of 18%, while Central Excise revenue s ...Read More >
Lucknow, Jul 17 (PTI) Uttar Pradesh's capital city has secured the third position in the category of urban spaces with population exceeding 10 lakh, while Prayagraj was adjudged the Cleanest Ganga City in the ninth edition of the Swachh Survekshan. Lucknow also became the first city in the state to achieve a 7-star Garbage Free City rating in the 2024-25 survey. Gorakhpur achieved double success, ranking third in the Safai Mitra Surakshit Sheher category and fourth among cities with a population between 3 to 10 lakh. Agra has been recognised as the Emerging Clean City of Uttar Pradesh, securi ...Read More >
Shillong, Jul 19 (PTI) Meghalaya Deputy Chief Minister Prestone Tynsong has said the state government will press for the retransfer of block I and II from Assam's Karbi Anglong district, asserting that the long-pending boundary issue remains a top priority. Tynsong, who also chairs the regional committee on the matter, said the government is awaiting a response from his Assam counterpart to schedule a joint inspection of the disputed areas. Also Read | Prayagraj Road Accident: Speeding Car Runs Over Women Sleeping Under Flyover in Uttar Pradesh, 1 Dead, 2 Injured. Before the creation of Meg ...Read More >
Hyderabad/ New Delhi, Dec 16 (UNI) Telangana Chief Minister A. Revanth Reddy on Tuesday appealed to union Finance Minister Nirmala Sitharaman to exempt borrowings for development of the education sector, from the limits prescribed under the Fiscal Responsibility and Budget Management (FRBM). He sought the exemption on the ground that the expenditure should be treated as an investment in human resource development. Revanth Reddy, who met the Finance Minister at her chamber in Parliament, briefed her on the Telangana government's large-scale initiatives aimed at strengthening the education sec ...Read More >
Sangareddy (Telangana) [India], July 1 (ANI): Telangana Governor Jishnu Dev Varma has expressed grief over the tragic fire accident that occurred at the Pashamylaram industrial area in Sangareddy district that killed 12 people. The Governor paid condolences to the families of those who lost their lives in the incident and wished a speedy recovery to the injured. Also Read | Rules Changing From July 1, 2025: From LPG Cylinder Prices and Railway Fares to Aadhaar-PAN Link, Check Key Rule Changes Taking Place Next Month. The Governor spoke to the Labour, Employment Training and Factories (LETF) ...Read More >
Chennai, Aug 14 (UNI) In a move to address the grievances of conservancy workers of the Greater Chennai Corporation, who were on protests mode for the last 14 days since August 14, opposing privatisation and demanding job regularisation, the Tamil Nadu Cabinet today announced six new schemes for their welfare and appealed to them to call off their stir, while stating that the doors of the government were always open to them for talks. About 600 conservancy workers representing two Zones in the city, along with their counsels, who were protesting at the Ripon Buildings--the seat of power of C ...Read More >
Chennai: Firing a barrage of 10 questions at the Union Government, Chief Minister M K Stalin on Saturday wondered as to why the Union Ministers were propagating unscientific superstitions that limited the intellectual growth of children and what was the idea behind using Governors to create confusion in States ruled by parties other than the BJP Close on the heels of State Finance Minister Thangam Thenarasu raising a fusillade of queries against the Union BJP government on Friday in his reply to the debate on the supplementary demands for grants in the State Assembly, Stalin said the hearts o ...Read More >
GST 2.0 simplifies India's indirect tax regime with two core rates of 5% and 18%, plus a 40% de-merit slab. Insurance premiums become GST-exempt, renewables gain from lower costs, and consumer electronics see relief. The reform aims to boost compliance, influence spending patterns, and realign sectoral margins. India's indirect tax regime has undergone a structural shift. Announced on September 5, 2025, and scheduled to take effect from September 22, GST 2.0 rationalises the current four-tiered ...Read More >
New Delhi, Sep 26 (SocialNews.XYZ) Prime Minister Narendra Modi on Friday paid tributes to former Prime Minister, late Dr. Manmohan Singh on his birth anniversary, recalling his long years of service and contributions to the nation. The Congress, too, paid tributes to its departed leader. In a post on X, PM Modi wrote: "Tributes to former PM Dr. Manmohan Singh Ji on his birth anniversary. We recall his contributions to our nation during his long years in public life." The former Prime Minister, a renowned economist and statesman, served as India's 13th Prime Minister from 2004 to 2014 and is ...Read More >
Anantapur: State finance minister Payyavula Keshav emphasised the need for real-time GST data access across states to effectively curb tax evasion and implement best practices using Artificial Intelligence and inter-departmental coordination. He was speaking during a virtual meeting of the Committee of Ministers on GST Reforms, formed by the Central government. The prestigious committee met virtually on Friday, with the session chaired by Goa Chief Minister Dr Pramod Sawant, from the NIC building in Anantapur collectorate. Other members who participated included Bihar Deputy CM Samrat Choudha ...Read More >
Hyderabad: In a major relief to private educational institutions, deputy chief minister and finance minister Bhatti Vikramarka announced on Monday that the govt will release an initial Rs 600 crore to clear pending fee reimbursements. Following this assurance, the prolonged strike by private college managements was called off after productive discussions between the stakeholders and the state govt.Speaking at a press conference, Vikramarka acknowledged the financial strain on colleges but affirmed the govt's commitment to support education. "Despite the state's fiscal challenges, we are determ ...Read More >