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.
Kurnool: The financial position of Andhra Pradesh is under severe stress, with a major share of revenue being spent on salaries and pensions, finance minister Payyavula Keshav said on Saturday. Addressing officials at a budget outreach programme in Nandyal, he said nearly 99 per cent of the state's revenue was being utilised for salaries and pensions. The expenditure stood at about 88 per cent till February but rose to 99 per cent after March figures were included. He noted that expenditure had reached 100 per cent and 110 per cent in the 2019-20 and 2020-21 financial years respectively. HR-related expenses, once around 21 per cent, have increased significantly, adding pressure on state finances. The minister said the government is also required to allocate funds for essential sectors such as healthcare, education and the mid-day meal scheme. He added that Andhra Pradesh's position is weaker than the national average, while neighbouring Telangana spends about 47 per cent on such expenses. Pending dues to employees stand at around '30,000 crore. The government released '6,000 crore last March and '7,000 crore this year, he said, adding that priority would be given to pension payments. He also said reforms have been introduced in municipal administration by delegating fund-release powers to the municipal department to avoid delays.
Lucknow, December 3: Chief Minister Yogi Adityanath, on Tuesday, emphasized that Prime Minister Narendra Modi's emphasis on using the term "Divyang" and respecting their sentiments has inspired persons with disabilities to advance in life and various fields with dignity. He highlighted that whenever Divyangjans have been given opportunities, they have consistently demonstrated their exceptional talents and abilities. Speaking at a state-level award ceremony at Lok Bhavan on International Day of Persons with Disabilities, the Chief Minister celebrated the achievements of Divyangjans and reaffi ...Read More >
Shimla (Himachal Pradesh) [India], December 11 (ANI): A Bharatiya Janata Party (BJP) delegation, led by senior leaders, met Himachal Pradesh Governor Pratap Shukla recently to submit a comprehensive 106-page memorandum titled "Kachcha Chittha". The document, which alleges rampant corruption and administrative failures in the two years of Congress rule under Chief Minister Sukhvinder Singh Sukhu, aims to hold the state government accountable for what the BJP describes as a period of "unprecedented mismanagement and destruction." Speaking to the media after meeting the Governor, Himachal Prade ...Read More >
Inflows into corporate bond funds have risen to multi-year highs in recent months with the risk-reward dynamics of AAA-rated corporate bonds improving significantly vis-a-vis government securities (g-secs), especially in the near term. The inflows into corporate bond funds jumped sharply in September 2024 to a multi-year high of Rs 5,039 crore. Investors poured in another Rs 4,644 crore in October. Including around Rs 2,200 crore estimated inflows in November, the three month tally rises to Rs 1 ...Read More >
New Delhi [India], January 31 (ANI): Bharatiya Janata Party (BJP) candidate Parvesh Verma on Friday filed a complaint with ACB against Aam Aadmi Party leader and former Delhi Chief Minister Arvind Kejriwal, alleging corruption concerning Delhi Sports University (DSU). Verma, who is contesting Delhi polls from the New Delhi seat against Kejriwal, in his complaint alleged "corrupt misappropriation of public funds" through "the abuse of official positions to gain wrongful benefits". The complaint has been filed with the Anti-Corruption Branch (ACB) of the Delhi government. Verma's advocate, Vi ...Read More >
Mumbai, May 21: The 8th Pay Commission has been officially announced by the Indian government, with no doubt a significant activity for some 1 crore central government employees and pensioners for the consideration of the revisions of salaries and pensions. The primary role of this commission will be to identify the fitment factor, the multiplier used to increase basic pay, and review minimum wages and keep them relevant to the current economic situation. A prominent recommendation from the Staff Side indicates a desire to combine lower pay levels for a fairer wage structure and to facilitate ...Read More >
CCI has also approved a 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) through a bid/resolution plan submitted by Central Bank of India | Image: Wikimedia Commons State-owned Central Bank of India on Thursday said it has acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June ...Read More >
New Delhi: State-owned Central Bank of India on Thursday said it acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June 4), the bank has ventured into the insurance sector, Central Bank of India said in a regulatory filing. At present, Central Bank of India has 25.28 per cent stake in FGILICL, which had earned a gross written premium of Rs 1,810.53 crore in FY24. The CCI has also approved a 25.18 per cent equity s ...Read More >
Mumbai: Even as mis-selling of insurance plans by banks has drawn scrutiny, the sector regulator doesn't want to manage distribution channels and seeks to focus on customer awareness to check the malpractice. "It's not necessary that every mis-selling is mis-selling, it's also about the customers' understanding of the product," said Swaminathan S Iyer, member (life), Insurance Regulatory and Development Authority of India on the sidelines of an event on Wednesday. "Once you drive home that your understanding is different from what the product is...then I think the absolute number on mis-selli ...Read More >
Bhubaneswar, Dec 3 (PTI) Odisha MLAs across party lines on Tuesday demanded an increase in their salaries and enhanced pensions for former lawmakers. The issue was raised during Zero Hour by Opposition chief whip Pramila Mallik, supported by members from both Congress and BJP. Mallik emphasised the need to increase the pension of former MLAs, saying they were struggling to manage due to rising market prices and medical expenses. She pointed out that a committee formed by the previous government had already submitted a report recommending an increase in the salary of MLAs to Rs 2.5 lakh per ...Read More >
Jharkhand supplementary budget: The Jharkhand Assembly on Thursday (December 12) passed the second supplementary budget of Rs 11,697.45 crore for the 2024-25 fiscal year. Following the budget's passage, Speaker Rabindra Nath Mahato adjourned the four-day session of the assembly sine die. Finance Minister Radhakrishna Kishore tabled the second supplementary budget, with the largest allocation of Rs 6,390.55 crore directed to the Women, Child Development, and Social Security Department. This significant funding aims to enhance the government's flagship initiative, the Maiyan Samman Yojana. Und ...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 >
Hyderabad: BJP MP and former minister in BRS government Eatala Rajendar spilled the beans before Justice PC Ghose Commission inquiring into the Kaleshwaram project on Friday. The BJP MP told the commission that the three barrages - Medigadda, Annaram and Sundilla were constructed only after the approval of CWC and Technical Committee and as per the recommendations of Cabinet Sub Committee headed by the then Irrigation minister T Harish Rao. Former Chief Minister K Chandrashekhar Rao was the brain behind the Kaleshwaram, the former minister said, adding that the Maharashtra government had opp ...Read More >
Ludhiana, Jun 8 (PTI) Punjab Congress president Amrinder Singh Raja Warring on Sunday asserted that his party will win the Ludhiana West assembly bypoll, scheduled to be held on june 19, with a "record margin". "Congress practically has no competition here", he claimed. Warring, who is also the Ludhiana MP, said that the ruling Aam Aadmi Party (AAP) was badly mistaken that the Congress would allow it to abuse power and misuse the official machinery for the elections. "First of all, we will not let any misuse of the official machinery and second, in case any official is found to be misusing ...Read More >
NEW DELHI: The government on Saturday extended the term of the chairman of the Central Board of Direct Taxes (CBDT) Ravi Agrawal by one year, an official notification said.The Appointments Committee of the Cabinet approved the re-appointment of Agrawal, an IRS officer of the 1988 batch, as CBDT chairman for one year from July 1 this year to June 30, 2026, on contract basis.Agrawal took over as the CBDT chairman from Nitin Gupta in June 2024 after Gupta's extended tenure ended. Agrawal has been a member of CBDT. He was member administration and had served as DG investigation in Delhi. The gover ...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 >
Hyderabad (Telangana) [India], December 12 (ANI): Launching a scathing attack against the Congress-led Telangana government, Bharat Rashtra Samithi (BRS) Working President KT Rama Rao on Thursday called it an "abject failure" and said that Congress party's saga of betrayal is endless. "The Congress party in Telangana has been an abject failure... Their saga of betrayal is endless... They are tampering with the cultural icons, with the Telangana self-respect and pride. I wrote to Rahul Gandhi that we are compelled that when BRS comes back three years later, we will change the name of all the i ...Read More >
Hyderabad: BJP MP and former Finance Minister Eatala Rajender concluded his testimony before the Kaleshwaram Commission, which is investigating the massive irrigation project. Eatala, who held the finance portfolio during the project's critical phases, stated that all major information and decisions regarding Kaleshwaram rest with former Chief Minister K. Chandrashekar Rao (KCR) and former Water Resources Minister Harish Rao. Speaking to reporters post-hearing, Eatala clarified that the Finance Department's role was minimal and that he had no direct involvement in project execution. He highli ...Read More >
New Delhi: Boasting of digital growth in India's largest public sector bank State Bank of India (SBI), Union finance minister on Tuesday said that digital transformation undertaken by SBI in the last decade has been immensely beneficial to its customers. Congratulating SBI on completing 70 years of service to the nation, she expressed hope that the bank will continue to innovate and empower as India continues its journey towards 'Viksit Bharat' by 2047. "With over 23,000 branches, 78,000 customer service points (CSPs) and 64,000 ATMs, SBI's footprint today is formidable and it is truly the ba ...Read More >
Mumbai: Uddhav and Raj Thackeray will hold a joint protest march of their parties in the city on July 5 against what they allege is imposition of Hindi in the state's schools from Class 1 through the new three-language policy. This will be the first time they will come together on a political platform after Raj Thackeray's decision to quit Shiv Sena to form MNS nearly two decades ago.There has been speculation of a reunion of the estranged cousins for the coming civic polls, and the protest march is being seen as the first step in that direction, reports Chaitanya Marpakwar.Uddhav and Raj had ...Read More >
New Delhi: The Goods and Services Tax (GST) on July 1 2025, marks eights years since its launch. GST was introduced in 2017 and was a landmark reform taht simplified India's complex indirect tax system by bringing multiple state and central taxes under one roof. It aimed to make tax compliance easier, reduce business costs, and enable smoother movement of goods across states. Over the years, GST has boosted transparency, improved efficiency, and strengthened the foundation of a more unified national economy. Prime Minister Narendra Modi had called it "a path-breaking legislation for New India ...Read More >
SHILLONG, July 2: The Employees' Provident Fund Organisation Regional Office (EPFO RO), Shillong, conducted an engagement session with local employers on Wednesday, to disseminate information about the newly approved Employment Linked Incentive (ELI) Scheme in a move to promote formal employment and enhance social security coverage in the region. As part of the broader communication and outreach efforts, the interaction was spearheaded by EPFO RO Shillong officials, who briefed representatives from a few prominent establishments. The interaction served as an informative platform where the pro ...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 >
Ranchi, Dec 12 (PTI)The Jharkhand Assembly on Thursday passed the second supplementary budget of Rs 11,697.45 crore for the 2024-25 fiscal. After this, the four-day session of the assembly was adjourned sine die by Speaker Rabindra Nath Mahato. Finance Minister Radhakrishna Kishore tabled the second supplementary budget, allocating a maximum outlay of Rs 6,390.55 crore to the women, child development and social security department to boost the government's flagship scheme Maiyan Samman Yojana. Under this scheme, the state government initially provided Rs 1,000 per month to women between the ...Read More >
Haryana chief minister Nayab Singh Saini on Saturday hit out at the Aam Aadmi Party (AAP) government in Punjab, alleging that it had not done any meaningful work for the welfare of people. Saini further claimed that the Bhagwant Mann government in Punjab "no longer enjoys public support" and that in the June 19 Ludhiana West assembly bypoll, "people will decide in the right direction". He accused the Mann government of not implementing central policies, such as the Ayushman Card scheme which co ...Read More >
Kargil , Jul 2: Pursuant to putting in place a comprehensive legal framework to ensure fair, inclusive, and transparent recruitment to public services, the Administration of the Union Territory of Ladakh has initiated a large-scale recruitment drive for 359 Gazetted posts through the Union Public Service Commission (UPSC). This marks the first-ever recruitment of Gazetted posts through UPSC since the formation of the Union Territory, officials said. This follows the establishment of a unique and dedicated legal framework specifically designed for Ladakh. The framework ensures maximum local re ...Read More >
Mumbai, June 6: Effective January 1, 2026, the Indian government-approved 8th Pay Commission is scheduled to update the salaries and pensions of more than 1 crore central employees and pensioners. The fitment factor may increase from 2.57 to 2.86, which could raise the minimum basic wage from INR 18,000 to INR 51,480 and the pensions from INR 9,000 to INR 25,740. The pay scale for government workers is expected to undergo major changes as a result of the 8th Pay Commission. It is anticipated to go into effect on January 1, 2026, and will benefit more than one crore central government employee ...Read More >
The Punjab Cabinet approved amendments to the state's conversion policy, facilitating industrial plot conversions into various uses. This move addresses industrialists' concerns, aims to streamline estate management, and enhance business ease. Additional policies target micro and small enterprise operations and restructure state financial directorates for efficiency. The Punjab Cabinet has given the green light to amendments in the conversion policy, offering opportunities for industrial plots t ...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: Days after the chairman of 16th Finance Commission Arvind Panagariya said that Uttar Pradesh, like many other states, had demanded increase in state's share from existing 41% to 50%, state finance minister Suresh Khanna said that such a demand has been raised by other states too and it is justified as UP has being doing better on several parameters.The UP govt's thrust before the 16th Finance Commission was on UP's share in central taxes which should be 20.47% against 17.93% it got in 15th Finance Commission, the finance minister told TOI.Sources said that even if UP does not get the ...Read More >