Business

Union commerce and industry minister Piyush Goyal on Tuesday reaffirmed India’s goal of becoming a $5 trillion economy by 2027, citing strong macroeconomic fundamentals, robust policy reforms, and inclusive national effort. Speaking at a virtual session hosted by the Merchants’ Chamber of Commerce and Industry (MCCI), Goyal described India’s economic progress as a “quantum leap”,…

ITR: One of the most crucial documents for income tax returns, Form 16 is usually issued by the employer. (AI image) Income Tax Return (ITR) filing FY 2024-25: Filing ITR can be a daunting task for many. Salaried taxpayers are often confused about the documents they need to e-file ITR. One such important document is…

The rupee retreated 3 paise on Wednesday to settle at 86.08 against the US dollar, giving up part of its sharp gains from the previous session, amid a firmer dollar index and foreign fund outflows.At the interbank foreign exchange, the local unit opened at 86.00 and touched a high of 85.79 before closing at 86.08….

Economic activity in India remained resilient in May 2025 despite the dual pressures of global trade uncertainty and geopolitical tensions, the Reserve Bank of India said in its June Bulletin, citing high-frequency indicators across key sectors.“In this state of elevated global uncertainty, various high-frequency indicators for May 2025 point towards resilient economic activity in India…

India is witnessing a sharp rise in the number of high-net-worth individuals, with the millionaire population expected to grow over 55% between 2024 and 2029—more than double the global average of 21%, according to a new report by Boston Consulting Group (BCG).Releasing its latest outlook on Wednesday, BCG said India’s financial wealth surged 10.8% between…

Rating agency Icra on Wednesday retained its forecast for India’s GDP growth at 6.2% for 2025-26, citing stable domestic drivers such as a well-distributed monsoon and moderated crude oil prices around $70 per barrel, but flagged escalating downside risks due to geopolitical and financial market uncertainties.In its June macroeconomic update, Icra said early data from…

Capital markets regulator Sebi on Wednesday slapped a Rs 25 lakh penalty on BSE for failing to provide equal access to corporate disclosures to all stakeholders and take action against brokers with frequent modifications during trades.The market regulator passed the order after an inspection conducted between February 2021 and September 2022.In a 45-page order, Sebi…

US stocks held close to record levels on Wednesday as investors paused following two days of strong gains driven by easing geopolitical tensions and a steep fall in crude oil prices, the Associated Press reported.The S&P 500 rose 0.3%, while the Nasdaq climbed 0.6% as cryptocurrency-linked stocks rallied. The Dow Jones Industrial Average slipped by…

Billionaire industrialists Mukesh Ambani and Gautam Adani have joined hands for a second time in less than two years, this time to co-market automotive fuels by integrating their retail networks — a strategic move that marks a rare alliance in India’s highly competitive energy sector.Ambani’s Jio-bp and Adani Total Gas Ltd (ATGL) on Wednesday announced…

The ATMS implementation spans the Dwarka Expressway and a 28-km section of NH-48. India has launched its first Advanced Traffic Management System (ATMS) project on the Dwarka Expressway in Delhi on Wednesday. The initiative complies with the National Highways Authority of India’s (NHAI) latest 2023 guidelines, advancing towards intelligent and secure highways.The ATMS implementation spans…