Economy

India’s gold imports soared to an unprecedented level in October, touching Rs 1.22 lakh crore (USD 14.72 billion) as demand surged ahead of the festive and wedding seasons. The sharp spike in shipments pushed the nation’s October trade deficit to its widest point in 14 months, raising concerns about inflationary pressures and foreign exchange outflows. The jump in gold imports also reflects robust consumer sentiment, despite elevated global bullion prices.

The Haryana government has announced a new increase in Dearness Allowance (DA) for employees covered under the 5th Pay Commission, offering financial relief amid rising living costs. The revision aims to help state employees cope with inflationary pressures while aligning compensation frameworks with broader fiscal commitments. The hike, effective from the designated implementation date, reflects the administration’s efforts to maintain parity between various pay structures and ensure fair cost-of-living support.

India is embarking on a new phase of structural financial reforms aimed at transforming its economy into a USD 30 trillion powerhouse by 2047. Policymakers and economic advisors emphasize the need for a more robust financial ecosystem that can support sustained investment, innovation, and inclusion. The government is focusing on modernizing financial institutions, deepening capital markets, and enhancing regulatory efficiency. These efforts, combined with rapid digitalization and demographic advantage, are expected to drive long-term growth.

In a step toward advancing the quality and safety of protective textiles, Indian researchers have developed a suite of thermal testing instruments designed to evaluate the performance of fabrics under extreme heat and fire exposure. This innovation marks a significant milestone for India’s growing technical textile sector, offering reliable, indigenous testing solutions that align with global safety standards.

India’s Goods and Services Tax (GST) revenue climbed to Rs 1.96 lakh crore in October 2025, marking a robust 13% year-on-year increase, underscoring the resilience of domestic consumption and improved tax compliance. This performance, one of the highest monthly collections since the GST regime’s inception in 2017, reflects sustained manufacturing activity, festive season spending, and digitized compliance measures introduced by the government.

Pensioners in Himachal Pradesh have formally demanded a 46% revision in dearness relief (DR), citing escalating living costs and inflationary pressures. The demand seeks to restore the purchasing power of retired government employees, whose fixed incomes have been eroded over recent years. Representatives argue that current DR rates lag behind the actual cost-of-living increases, affecting financial stability and quality of life for senior citizens. The state government is under pressure to address these concerns while balancing fiscal constraints.

India Maritime Week 2025 marked a transformative milestone for the nation’s shipping and port ecosystem, with memorandums of understanding (MoUs) worth Rs 12 lakh crore signed across multiple sectors, including port modernization, logistics, shipbuilding, and renewable energy integration. The event underscored India’s commitment to advancing its blue economy, improving maritime infrastructure, and enhancing global trade competitiveness.

India’s electricity consumption fell 6% year-on-year in October 2025 to 132 billion units (BU), reflecting a slowdown in industrial activity and subdued power demand due to moderate weather conditions across much of the country. The decline follows months of robust consumption driven by strong manufacturing output and peak summer loads. Experts attribute the fall to lower cooling requirements, maintenance shutdowns in select industries, and improved efficiency in power usage.

Nearly a year after the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination notes, around Rs 5,817 crore worth of these high-value bills remain in circulation. While most of the currency has returned to the banking system, a small fraction continues to be held by individuals or entities. The central bank confirmed that exchange and deposit options for the withdrawn notes remain available at its regional offices.

Mumbai’s property market witnessed a 10% decline in property registrations in October compared with the same period last year, reflecting a phase of market stabilization following months of strong activity. Industry analysts attribute the moderation to rising property prices, higher interest rates, and a temporary slowdown in fresh inventory launches. Despite the dip, overall revenue collection from stamp duty remained healthy, suggesting continued demand for premium and mid-segment homes.