New Delhi, July 26 (IANS) British coffee chain Costa Coffee saw its store network in India shrink for the first time in more than five years.According to the latest annual report of its exclusive India franchise partner, Devyani International Limited (DIL), Costa Coffee operated 198 cafes at the end of FY26, down from 220 outlets a year earlier.The net closure of 22 stores marks a departure from the brand’s steady expansion since FY21.Despite the decline in store count, Costa Coffee’s revenue fr…
Latest FY26 News & Updates
New Delhi, July 24 (IANS) More than 7.3 crore income tax returns (ITRs) were filed for Assessment Year 2026, surpassing the number filed in the previous year, Revenue Secretary Arvind Shrivastava said on Friday.Speaking about the ongoing reforms in the direct tax system, Shrivastava said the Income Tax Department should increasingly be viewed as a facilitator for honest taxpayers rather than merely an enforcement agency.He stressed that the use of technology must make tax administration smarter,…
New Delhi, July 24 (IANS) An SBI Research report on Friday estimated that after accounting for GST collections together with states’ share in basic excise duty (BED), states are expected to be net gainers by approximately Rs 1.43 lakh crore in FY27 compared to FY26.Going forward, the report expects a rebound in the GST collections and yearly growth in the range of 8-9 per cent and the moderation in collection is due to rate rationalisation, which is on expected lines.Under the revised framework,…
New Delhi, July 21 (IANS) The government’s Production Linked Incentive (PLI) schemes have attracted actual investments of more than Rs 2.40 lakh crore, generated over 14.15 lakh direct and indirect jobs, and enabled exports worth Rs 15.2 lakh crore across 14 key sectors as of March 31, 2026, Parliament was informed on Tuesday.In a written reply in the Lok Sabha, MoS for Commerce and Industry Jitin Prasada said the PLI schemes, launched with an approved financial outlay of Rs 1.91 lakh crore.The …
Mumbai, July 21 (IANS) Arvind Fashions, the Indian retailer behind premium apparel brands including Arrow, Calvin Klein and Tommy Hilfiger, on Tuesday reported a 23.8 per cent decline in consolidated net profit for the first quarter of FY27, as higher costs weighed on earnings despite strong revenue growth.The company’s net profit fell to Rs 9.6 crore in the quarter ended June 30, compared with Rs 12.6 crore in the corresponding quarter of the previous financial year (Q1 FY26), according to its …
New Delhi, July 6 (IANS) India Inc’s corporate earnings are pegged at a compound annual growth rate (CAGR) of around 15 per cent during FY26-FY28, supported by improving macroeconomic conditions, easing geopolitical concerns and stronger earnings visibility, a report showed on Monday.The report by Motilal Oswal Financial Services Ltd. (MOFSL) said India is entering a more favourable phase after nearly two years of market consolidation, with attractive valuations positioning domestic equities to …
New Delhi, June 30 (IANS) Pakistan’s foreign direct investment (FDI) fell 28 per cent during the first 11 months of FY26 as persistent regional uncertainty and geopolitical tensions continued to weigh on investor sentiment, a report has said.The report published in Dawn showed that regional instability has negatively impacted Pakistan’s domestic bond and equity markets, with uncertainty prompting foreign investors to stay away despite an improvement in the country’s foreign exchange reserves and…
New Delhi, June 26 (IANS) India and Venezuela are moving toward deeper institutional cooperation in the oil sector, particularly in oil exploration, production, refining, and long-term supply agreements, a report has said.According to an analysis by Modern Diplomacy, talks here between Union Minister for Petroleum and Natural Gas Hardeep Singh Puri and Venezuelan Interim President Delcy Rodriguez, along with an invitation to an Indian energy delegation, mark the beginning of a shift from spot pu…
New Delhi, June 19 (IANS) The Department of Social Justice & Empowerment has removed the requirement for a domicile certificate for students applying under Pre‑Matric and Post‑Matric scholarship schemes for Scheduled Caste and Other Backward Classes, an official statement said on Friday.This step is expected to reduce the compliance burden on students and simplify the application process for scholarships, enabling easier access to benefits.Thousands of eligible applicants across the coun…
New Delhi, June 12 (IANS) India’s flexible office sector crossed the 100 million sq ft mark and ended FY26 on its strongest commercial footing yet, with robust revenue growth, expanding profitability and increasing enterprise adoption, a report said on Friday.The report from flexible workspace platform myHQ said Global Capability Centres accounted for a record 45.5 per cent of all office leasing in Q1 CY26 and that enterprise clients contributed the majority of revenue across every listed oper…