New Delhi, May 26 (IANS) Despite geo-political headwinds, India’s services sector remained resilient as exports grew 13.4 per cent year‑on‑year to $37.24 billion while imports fell marginally to $16.66 billion, a report said on Tuesday.The report from B2K Analytics said strong performance in the services sector helped offset a widening merchandise trade gap driven by higher energy costs.India’s overall trade deficit, including merchandise and services, narrowed to $7.8 billion during the…
Latest FY27 News & Updates
Mumbai, May 25 (IANS) Finance Minister Nirmala Sitharaman said on Monday that India’s economy continues to show resilience amid global uncertainty, and came out strongly against attempts to paint a “pessimistic and cynical narrative” that presents an inaccurate picture of the country’s growth trajectory.Addressing the SIDBI foundation day event here, FM Sitharaman pushed back against concerns around India’s economic trajectory. “India cannot afford fear mongering that damages public conf…
New Delhi, May 20 (IANS) State-run Bharat Petroleum Corporation Limited (BPCL) has increased its intake of Russian crude oil to around 41 per cent amid ongoing supply disruptions from the West Asia conflict, a senior company official said on Wednesday.Russian crude now accounts for about 40–41 per cent of total imports, up from 31 per cent in the fourth quarter of FY26 and 25 per cent in the third quarter, said Vetsa Ramakrishna Gupta, Director (Finance), BPCL.Gupta said the company has steppe…
New Delhi, May 16 (IANS) The recent retail fuel price increase of Rs 3 per litre will trim mounting losses at oil marketing companies and provide up to Rs 52,700 crore worth of relief in their under‑recoveries, a report said on Saturday.The report from SBI Research said that the relief is equal to roughly 15 per cent of the expected total loss of OMCs in FY27.Under‑recoveries on petrol and diesel have surged because retail prices were kept unchanged amid rising Brent crude, with the governme…
New Delhi, May 16 (IANS) India’s leading software services provider, Tata Consultancy Services (TCS), is repositioning itself as an AI and digital transformation partner as it sharpens focus on full-stack artificial intelligence solutions across industries, Chairman N Chandrasekaran has said.In a message to shareholders in the company’s FY26 annual report, Chandrasekaran said enterprises are rapidly accelerating adoption of generative and agentic AI technologies.TCS also scaled up execution …
New Delhi, May 14 (IANS) Indian equities recovered in April despite geopolitical tensions and elevated crude oil prices, and the markets indicate a constructive phase in the long term, a report said on Thursday.The report from HSBC Mutual Fund said India’s investment cycle is expected to stay strong, supported by infrastructure spending and private capex recovery.Potential trade deals with the EU and the US are likely to support manufacturing growth and export competitiveness.The report noted …
New Delhi, May 13 (IANS) Historical analysis of oil spikes showed that they do not permanently alter India’s GDP or inflation path and the structural relationships are weak over the long run, a report said on Wednesday.The report from Bank of Baroda said that autoregressive distributed lag model analysis of crude price changes over the last 54 years does not establish any long run relationship between oil prices, GDP, CPI (Consumer Price Index) and WPI (Wholesale Price Index).Over the past 54 …
New Delhi, May 13 (IANS) India’s total merchandise exports are pegged at $111.9 billion during the April-June quarter of FY27, a marginal year-on-year growth, according to a report released on Wednesday.According to the government-backed Export-Import Bank of India (India Exim Bank)’s latest quarterly export outlook, non-oil exports are forecast at $97.8 billion during the first quarter of FY27, a growth of 3.5 per cent over the corresponding period last year.Meanwhile, non-oil and non-gems an…
New Delhi, May 12 (IANS) The government on Tuesday said it has revised the release date of the provisional estimates (PE) of annual gross domestic product (GDP) and quarterly estimates of GDP for fourth quarter (Q4), from last working day of May to June 7 (or the previous working day if June 7 is a holiday) of every year.The revision forms part of the continued efforts of the Ministry towards improving the quality, coverage and robustness of data used in national accounts compilation and is also…
New Delhi, May 9 (IANS) The Central Board of Direct Taxes is stepping up efforts to recover Rs 2.57 lakh crore in confirmed tax demands in the current fiscal year, a report has said.Under the enforcement drive, special teams will track the top 10,000 high‑value arrear cases nationwide in FY27, the tax department officials told NDTV Profit.Tax recovery and compliance monitoring will see a technology-driven push from artificial intelligence, data analytics and digital forensics, they said.The CB…