Economy

India’s direct tax revenue has witnessed a robust 9% growth, reaching Rs 10.82 lakh crore in the current fiscal, reflecting strong compliance and economic resilience. Analysts attribute the increase to higher corporate profits, improved tax administration, and effective policy measures encouraging voluntary compliance. The rise in collections underscores the government’s capacity to fund development initiatives while sustaining fiscal stability. Sector-wise, IT, manufacturing, and financial services contributed significantly to the surge.

The Indian rupee experienced a decline against the US dollar, reflecting a combination of global and domestic economic pressures. Currency traders cited factors such as rising US Treasury yields, strong dollar momentum, and concerns over India’s trade deficit. Additionally, capital outflows from equity and debt markets amplified downward pressure on the rupee. The depreciation has immediate implications for import costs, inflationary trends, and corporate earnings with dollar-denominated expenses.

India is poised for an unprecedented wave of investments worth Rs. 80 lakh crore across key sectors, signaling a new chapter in the nation’s economic transformation. The projected inflows are expected to strengthen infrastructure, boost manufacturing, and accelerate the adoption of renewable energy while simultaneously generating millions of jobs. This infusion of capital underscores global confidence in India’s growth trajectory and its resilience amid uncertain global conditions.

The Income Tax Department has officially clarified that September 15 will remain the deadline for filing income tax returns (ITRs) for specific categories of taxpayers. This confirmation brings clarity amid speculation of potential extensions, ensuring individuals, professionals, and businesses prepare accordingly. The department’s communication underscores the government’s intent to enforce compliance while streamlining the tax administration system.

The Ministry of Textiles is finalizing a comprehensive procurement blueprint to support cotton farmers through the Minimum Support Price (MSP) mechanism. With cotton prices under pressure from volatile global demand and shifting domestic supply patterns, the government aims to reinforce income stability for cultivators while ensuring reliable raw material access for the textile industry.

Indian equity benchmarks ended lower as global market turbulence and persistent concerns over monetary tightening weighed on investor sentiment. The Sensex and Nifty both closed in the red, extending recent volatility fueled by foreign capital outflows, rising crude oil prices, and expectations of prolonged high interest rates in the United States. While select sectors such as information technology and pharmaceuticals cushioned some losses, heavy selling in banking, energy, and auto stocks dragged indices down.

India’s coal imports increased during the June quarter as robust electricity demand and seasonal consumption patterns drove power producers and industries to secure additional supplies. The rise was largely attributed to higher purchases of thermal coal, which continues to dominate the energy mix despite government efforts to promote renewables and domestic mining. Analysts note that while local production has improved, import dependence persists due to quality requirements and logistics efficiency.

Gold prices have continued to edge higher, supported by growing investor anxiety over potential trade disruptions and inflationary pressures. Amidst escalating tariff tensions between major global economies, market participants are increasingly turning to gold as a safe-haven asset. The yellow metal has also gained from a weakening dollar and expectations of accommodative monetary policy in key markets.

The Indian rupee appreciated by 12 paise on Thursday to close at Rs. 87.53 against the U.S. dollar, supported by easing global crude oil prices, positive foreign capital inflows, and a marginal retreat in the greenback overseas. Market sentiment was also buoyed by a modest recovery in domestic equities following a global sell-off. Currency traders attributed the rupee’s upward movement to improved risk appetite and central bank interventions aimed at managing volatility.

Gold prices in India witnessed a sharp uptick on Tuesday, climbing by Rs. 700 to reach an all-time high of Rs. 98,520 per 10 grams. This rally reflects heightened investor interest driven by geopolitical uncertainties, persistent inflation concerns, and expectations of global central banks maintaining accommodative monetary policies. As global demand for safe-haven assets surges, Indian gold rates have tracked international benchmarks closely. The domestic market, already experiencing strong retail and institutional interest, now faces rising premiums as traders brace for further upside.