Direct Tax Collection Hits ₹12.92 Lakh Cr
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🗞️ India’s net direct tax collection hits ₹12.92 lakh crore
India’s net direct tax collection has crossed ₹12.92 lakh crore, marking a 7% YoY growth. The government’s sustained tax collection efforts have been bolstered by increased compliance and strong economic recovery.
💬 Expert Take — “The robust tax collection reflects an expanding formal economy and will help the government meet its fiscal deficit target.”
🗞️ Andhra Cabinet approves ₹1 lakh crore investment proposals
The Andhra Pradesh Cabinet has approved investment proposals worth ₹1 lakh crore, covering various sectors including manufacturing, infrastructure, and renewable energy. This move is expected to create jobs and boost the state’s industrial growth.
🗞️ UP government’s microfinance kitty grows to ₹32,500 crore
Uttar Pradesh has increased its microfinance kitty to ₹32,500 crore, focusing on financial inclusion and improving access to capital for women and small entrepreneurs in rural areas.
🗞️ Festive season sees 15% YoY rise in credit card spending
Credit card spending surged 15% YoY during the festive season, driven by GST cuts and strong consumer sentiment. This indicates strong retail demand and a recovery in discretionary spending.
💬 Expert Take — “The rise in credit card transactions reflects a shift in consumer behavior towards digital payments and the growing adoption of credit facilities.”
🗞️ PhysicsWallah IPO live: Subscription and GMP updates
PhysicsWallah’s IPO has opened, with GMP updates and subscription status following strong retail demand. The ₹3,480 crore issue is getting attention despite a slight dip in GMP, which reflects cautious market sentiment.
🗞️ Granules Life Sciences gets US FDA approval
Granules Life Sciences has received its first US FDA approval for a key product, marking a significant milestone in its global expansion strategy and strengthening its portfolio of pharmaceutical manufacturing.
🗞️ Bajaj Finance Q2 profit up 23% to ₹4,948 crore
Bajaj Finance reported a 23% YoY increase in Q2 profit to ₹4,948 crore, driven by higher loan disbursements and a strong customer base. Despite the growth, the results missed market expectations slightly.
🗞️ Equity mutual fund inflows fall 19% MoM in October
According to AMFI data, equity mutual fund inflows dropped 19% MoM to ₹24,690 crore in October, reflecting caution in the equity market amid global economic uncertainty.
📊 Market Update
📉 Sensex: 83,535.35 ▼ 519.34 pts (-0.62%)
📉 Nifty 50: 25,597.65 ▼ 165.70 pts (-0.64%)
💱 USD/INR: 88.26
🪙 Gold (per gram, Pune): 24K ₹12,191 ▲ ₹43 | 22K ₹11,175 ▲ ₹40
🥈 Silver (per kg): ₹1,57,000 ▲ ₹3,000