Direct Taxes Cross ₹11.9L Cr
Your daily dose of business news
🗞️ Direct tax collection up 6.3% in FY26
According to Economic Times, India’s gross direct tax collection rose 6.3% YoY to ₹11.9 lakh crore so far this fiscal, driven by higher corporate tax receipts. Advance tax payments and improved compliance contributed to the growth.
🗞️ Income tax refunds fall amid fraud checks
Income tax refunds have declined sharply as authorities tightened verification to prevent fraudulent claims. While collections rose, refund processing slowed due to AI-led cross-check systems being rolled out.
🗞️ IMF trims India’s FY27 GDP forecast
The IMF has lowered India’s FY27 GDP growth forecast by 20 bps following similar revisions from the World Bank. The global body cited external demand weakness and global trade moderation as key factors.
💬 Expert Take — “India remains the world’s fastest-growing large economy despite marginal global re-rating — long-term fundamentals are intact.”
🗞️ Silver prices near ₹1.9 lakh/kg
As per Moneycontrol, silver touched ₹1,90,000/kg, close to its record high, as investors hedge against currency volatility. Analysts expect short-term consolidation but strong structural demand from EV and solar sectors.
🗞️ India’s trade deficit widens to $32.15 bn
According to Economic Times, India’s trade deficit expanded to $32.15 billion in September, the widest in 2025 so far, as imports of crude oil and electronics surged while exports remained muted.
🗞️ Power Mech wins ₹2,500 cr EPC order from BHEL
Power Mech Projects bagged a ₹2,500 crore EPC contract from BHEL for civil and structural works. The order will strengthen Power Mech’s presence in large industrial infrastructure projects.
🗞️ Tata Communications Q2 profit dips 27%
Tata Communications reported a 27% YoY drop in consolidated net profit to ₹183 crore in Q2 FY26, impacted by higher costs and slower data business growth. Revenue rose modestly by 4%.
🗞️ Midwest IPO 66% subscribed on Day 1
The Midwest IPO was 66% subscribed on its opening day, with strong retail participation. The grey market premium (GMP) climbed to ₹14, indicating solid listing expectations.
📊 Market Update
📈 Sensex: 82,605.43 ▲ 575.45 pts (+0.70%)
📈 Nifty 50: 25,323.55 ▲ 178.05 pts (+0.71%)
🪙 Gold (per gram): 24K ₹12,944 ▲ ₹109 | 22K ₹11,865 ▲ ₹100
🥈 Silver (per kg): ₹1,90,000 ▲ ₹1,000