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The Latest Breaking News from Pankaj Chaudhary

Will 8th Pay Commission submit its report before 18-month deadline? Minister clarifies

8th Pay Commission news: The 8th Pay Commission is currently engaging with various stakeholders regarding issues related to pay and pensions. The findings are expected to be submitted within 18 months of its formation. Led by chairperson Justice Ranjana Prakash Desai, this initiative aims to benefit nearly 35.77 lakh civilian…

The Economic Times

India sixth-largest economy at $3.92 trillion nominal GDP in FY26: Government

India's economy reached sixth globally with a $3.92 trillion GDP in 2025-26. Government strategies focus on agricultural productivity and manufacturing growth. Infrastructure and logistics are strengthened through public investment and new policies. Foreign investment remains substantial, and bank bad loans have significantly fallen. Unclaimed bank deposits now total over Rs…

The Economic Times

No proposal under consideration for restoration of Old Pension Scheme: MoS for Finance Pankaj Chaudhary

The government has no plans to restore the Old Pension Scheme due to its fiscal unsustainability. Several state governments have requested a reversion from the National Pension System to the Old Pension Scheme. The Unified Pension Scheme offers an inflation-linked defined benefit option for central government employees. This new scheme…

The Economic Times

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Gold, silver, platinum duty earns govt Rs 10,463 crore since May 13

Government collected Rs 10,463 crore in customs duty on precious metal imports. Gold imports generated Rs 10,040 crore, while silver and platinum added Rs 423 crore. Import duties on gold and silver were raised to fifteen percent in May. This move aimed to curb discretionary imports and conserve foreign exchange…

The Economic Times

Lower or nil TDS certificates to go fully online soon, rules being framed

New rules are being prepared for electronic applications for lower TDS certificates. Taxpayers can soon apply online for reduced or nil tax deductions. This initiative aims to ease compliance burdens for small taxpayers. The Income Tax department disposed of many appeals in the last fiscal year. Faceless assessments were also…

The Economic Times

Govt mops up Rs 45,306 cr from disinvestment, asset monetisation in FY26; exceeds RE target

Government's combined disinvestment and asset monetisation mop-up reached Rs 45,306 crore in FY26. This figure surpassed the Revised Estimates for the fiscal year. Disinvestment contributed Rs 16,886 crore, while asset monetisation added Rs 28,420 crore. For the current fiscal, Rs 80,000 crore is budgeted for these receipts. So far, Rs…

The Economic Times

Household savings rise to 21.7% of GDP in FY25: Govt

Household savings increased to 21.7 percent of GDP in 2024-25. Government and RBI measures aim to boost incomes and financial security. RBI enhanced financial system resilience by adjusting consumer credit risk weights. Income tax exemptions and GST rationalization support household disposable incomes. Focus on ease of doing business fosters overall…

The Economic Times

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RBI sells USD 14.9 bn during Jan-May to check excess volatility in rupee

In an effort to stabilize the rupee, the Reserve Bank of India sold USD 14.9 billion. Banks are also re-engaging with defaulters to recover substantial written-off loans. The SWAMIH Fund has been effective in funding 147 projects, benefitting many home buyers. Interestingly, defaults on gold loans have plummeted for both…

The Economic Times

Banks mobilise $27.99 billion via FCNR deposits since RBI introduced USD-rupee forex swap facility

Banks have mobilized USD 27.99 billion from non-resident Indians through a forex swap facility. Domestic payment frauds across all banks amounted to Rs 489 crore as of June 2026. Near-universal banking coverage has been achieved, serving most inhabited villages with banking outlets. Over 58.77 crore PMJDY accounts hold substantial balances,…

The Economic Times

Govt cites global commodity, energy costs for rise in wholesale price inflation

Wholesale price inflation rose to 9.87 percent in June. This increase was largely driven by global commodity and energy costs. The government is actively undertaking measures to control inflation and its impact. Retail inflation has remained below the four percent target for two quarters. India's retail inflation rose to 4.38…

The Economic Times

Has government scrapped Long Term Capital Gain (LTCG) tax for foreign investors? Finance Ministry replies

The government has clarified no LTCG tax scrapping for foreign investors. Only investments in Government Securities now receive tax exemptions. This measure aims to attract foreign portfolio investors to the G-Secs market.

The Economic Times

Is government planning to scrap Long Term Capital Gain (LTCG) tax on equities for domestic investors in FY 26-27? Minister responds

Long Term Capital Gain: The Finance Ministry has denied contemplating the scrapping of LTCG tax on equities for domestic investors. There is no current proposal under consideration to remove this tax for retail investors.

The Economic Times

ITC fraud worth Rs 74,782 crore detected in FY26; Maharashtra, Gujarat lead

Central GST officers detected over 30,000 input tax credit fraud cases in 2025-26. These cases involved approximately Rs 74,782 crore and led to 358 arrests. Maharashtra and Gujarat reported the highest number of fraud cases and associated financial values. Fake GST registrations using forged documents also contributed to substantial ITC…

The Economic Times

Minimum balance charges swell pvt banks' coffers by nearly Rs 5,000 cr in FY26

Private banks collected over Rs 4,900 crore from account holders for minimum balance failures. Public sector banks also gathered Rs 2,100 crore during the same financial year. HDFC and Axis Banks led private sector collections for these account charges. No penalties are applied to basic savings accounts, including Jan Dhan…

The Economic Times

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The Economic Times

Macroeconomic fundamentals of Indian economy remain strong amid global challenges

India's economy shows strong macroeconomic fundamentals and a resilient financial system. Robust domestic demand and healthy corporate balance sheets support sustained economic growth. The Indian Rupee has depreciated against the US Dollar due to global events. Regional Rural Banks and Public Sector Banks have reported record profits. Government initiatives aim…

The Economic Times

Plastic notes in India coming soon: Why govt wants polymer banknotes, which countries use them and how these currencies help

Why is the RBI introducing plastic notes?The government's approval for RBI polymer notes has renewed focus on why RBI plastic notes are needed. Polymer banknotes last two to six times longer than paper Indian currency, reduce printing and replacement costs, improve durability, lower environmental impact and are already used by…

The Economic Times

Govt approves RBI's trials of ₹10, ₹20 polymer notes; no plan to replace paper currency

The government has approved the Reserve Bank of India's proposal for polymer banknotes. One billion pieces each of ten and twenty rupee polymer notes will undergo field trials. These new notes are expected to be more durable and have a longer lifespan. The introduction of polymer notes is still in…

The Economic Times

No proposal for one-time waiver of loans of small, marginal farmers: MoS Finance

The government has no current proposal for a one-time loan waiver for farmers. The Reserve Bank of India offers financial restructuring options for distressed borrowers. The government has approved a proposal for polymer banknotes in Rs 10 and Rs 20 denominations. These polymer notes will have a longer lifespan than…

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The Economic Times

Number of billionaires grows 4-fold in five years to 576 in AY'26: Income tax return data

Five hundred seventy-six individuals reported over Rs 100 crore income in 2025-26. This figure shows a fourfold increase from the previous five years. The number of high-income earners rose significantly after a dip in 2024. Labour markets have recovered beyond pre-COVID levels, reducing unemployment. Government measures aim to reduce inequality…

The Economic Times

India's debt-to-GDP ratio moderates to 58.2% in FY26: RS

India's debt-to-GDP ratio moderated to 58.2 percent in FY26, showing improved fiscal health. The government's interest payments have declined significantly since the Covid-19 pandemic. Effective capital expenditure for FY27 exceeds fresh debt receipts, indicating asset creation focus. Central government capital expenditure between FY21 and FY26 reached Rs 44.03 lakh crore.…

The Economic Times

Banks, financial institutions reported fraud of Rs 1.42 lakh crore in last 5 years: MoS Finance

Banks and financial institutions reported Rs 1.42 lakh crore in fraud over five years. Recovery of Rs 6,389 crore was made during this five-year period. Public sector banks filed recovery suits against 15,577 wilful defaulters by March 2026. These banks also recovered Rs 52,360 crore from wilful defaulters. The Reserve…

The Economic Times

Nearly 55.49 crore UPI users onboarded by June 2026

Around 55.49 crore UPI users were onboarded by June 2026, Parliament was informed. UPI transactions reached 24,162 crore in volume and Rs 314 lakh crore in value. NPCI International Payments is expanding UPI and RuPay to global markets. Security measures and international linkages enhance UPI's safety and reach. Government and…

The Economic Times

Action will be taken in Ram temple donation theft case: UP BJP chief

Uttar Pradesh BJP chief Pankaj Chaudhary called the Ram temple donation issue unfortunate. He assured strict action against all those found involved in the matter. Chaudhary criticized opposition leaders Rahul Gandhi and Akhilesh Yadav for their remarks. He stated that the Special Investigation Team probe is underway and ongoing. The…

The Economic Times

'Lotus will bloom again in UP': Nitin Nabin on assembly polls after arriving for 2-day visit

BJP National President Nitin Nabin expressed strong confidence in the party's victory in the 2027 Uttar Pradesh assembly polls, citing the 'double engine government's' transformation of the state. He noted the immense enthusiasm of party workers during his two-day visit to Lucknow, which included extensive meetings with senior leaders and…

The Economic Times

Restructuring in UP BJP unit, Rajnath Singh's son Neeraj, SP turncoat Pooja Pal among 19 vice presidents

Uttar Pradesh BJP has unveiled a restructured state unit, appointing 19 vice-presidents and eight general secretaries for the 2027 Assembly elections. Notably, Defence Minister Rajnath Singh's son, Neeraj Singh, is among the new vice-presidents. The reshuffling aims for balanced representation across social sections and communities, including women leaders, to strengthen…

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