Economy news

• 8th Pay Commission: Level 8 employee could earn up to Rs 28.89 lakh extra if 7% increment is implemented

  03-09-2026 18:16 via timesofindia.indiatimes.com
  
  Employee bodies have argued that the current 3% annual increment is not sufficient to keep pace with rising expenses. Their recommendations have ranged from 5% to 7%. If such proposals are accepted, a higher increment rate of 5% or 7% would have a direct impact on the salary progression of central government employees.
  
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• Bank holiday on Janmashtami: Where are banks closed on Sept 4, 2026? Check list

  03-09-2026 18:04 via timesofindia.indiatimes.com
  
  Indian banks across various states will be closed on September 4 to observe Krishna Janmashtami. Customers should be aware that further closures will occur throughout the month for additional festivals and elections. It's essential to check local holiday schedules for branch services, although digital banking and ATMs will continue to function normally. Plan accordingly for any urgent in-person banking needs during these times.
  
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• Couple buys Rs 60 lakh flat, husband taxed on Rs 34.81 lakh stamp-duty gap; ITAT objects

  03-09-2026 16:50 via timesofindia.indiatimes.com
  
  Can the entire difference between a property’s actual purchase price and its stamp-duty value be added to the income of just one of its co-owners? A recent ruling by ITAT Mumbai has addressed this question in a case involving a husband and wife who jointly purchased a property.
  
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• US is no longer the only choice: 7 countries giving Indians new routes to study, work and settle

  03-09-2026 15:52 via timesofindia.indiatimes.com
  
  The point is not that America has become less relevant. It's about the rest of the world finally catching up as a credible alternative. Germany may offer a clearer skilled-employment pathway; Australia a combination of education and skilled migration; Singapore access to Asian markets; the UAE long-term residence without a conventional permanent-immigration model
  
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• 7.8% growth, but a Rs 6 lakh crore question: Why GDP data has sparked a debate

  03-09-2026 15:23 via timesofindia.indiatimes.com
  
  One of the biggest points of discussion and questioning is the revision to Q1 FY26 GDP at current prices, that is the figures for last year's same quarter numbers. Under the old 2011-12 series, GDP was estimated at Rs 86.05 lakh crore. However, under the new series, it has subsequently been revised to Rs 80 lakh crore.
  
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• US-Venezuela's historic deal: Will Americans get cheaper gas now?

  03-09-2026 13:41 via timesofindia.indiatimes.com
  
  The United States has successfully negotiated a deal to import Venezuelan oil, aiming to replenish its reserves with a consistent supply of affordable crude. While the long-term implications for American drivers remain ambiguous, the deal's effect may not be felt for several months. The arrangement involves significant untapped oil fields and a private company, but future political developments in both nations could pose risks to this energy collaboration.
  
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• Sugar gets sweeter again: Retail prices fall 3.85% to Rs 62.57/kg in a week

  03-09-2026 12:52 via timesofindia.indiatimes.com
  
  Sugar prices have started to fall across markets following government interventions.The average retail price has dropped significantly over the past week.However, consumers still pay more than a month ago due to existing stock.Wholesale rates are not immediately reflecting in retail prices as traders hold old inventory.Government measures like import allowances and stock curbs aim to stabilize prices.
  
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• Bridges & underpasses: Gadkari announces Rs 2,077cr project for Siliguri Corridor

  03-09-2026 12:19 via timesofindia.indiatimes.com
  
  A Rs 2,077.18 crore project will four-lane a key Siliguri Corridor highway. This upgrade will strengthen connectivity to Northeast India and neighboring countries. The project includes bridges and elephant underpasses for safer wildlife movement. Congestion is expected to ease in Bagdogra and surrounding areas after completion. Faster movement of local produce to markets will be facilitated by this development.
  
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• Indian Railways set to get indigenous 280 kmph bullet trains by early 2027

  03-09-2026 10:49 via timesofindia.indiatimes.com
  
  India could see the launch of its first bullet train service in 2027, with the Surat–Bilimora section of the Mumbai-Ahmedabad bullet train project expected to become operational by August that year.
  
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• Son died in 2013, LIC rejected 5 claims over diabetes; mother wins Rs 61.5 lakh

  03-09-2026 08:58 via timesofindia.indiatimes.com
  
  The decision ends a legal dispute that continued for more than a decade. It also establishes that an insurer cannot deny a death claim for non-disclosure of a medical condition if the policyholder himself was unaware of the disease when the policy was taken.
  
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• Gold, silver price prediction: Will gold drop to Rs 1.4 lakh/10 gms? Check outlook on September 3, 2026

  03-09-2026 07:57 via timesofindia.indiatimes.com
  
  Gold and silver price prediction today: Gold prices are falling but buying on dips is the recommended strategy this week, says Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group.
  
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• SBI hits back at 2.6% GDP growth claim, says numbers compared incorrectly

  03-09-2026 07:24 via timesofindia.indiatimes.com
  
  The State Bank of India has challenged assertions of low nominal GDP growth, asserting that the 2.6% figure arose from inconsistent data comparisons. The bank highlights that the official real GDP growth for Q1 FY27 remains robust at 7.8%. It's common for quarterly GDP figures to be adjusted, and further revisions will continue until the data is finalized.
  
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• Rupee gains 47 paise as record FCNR inflows boost forex liquidity

  03-09-2026 06:50 via timesofindia.indiatimes.com
  
  On Thursday morning, the Indian rupee saw a notable rise, fueled by an influx of foreign-currency deposits that enhanced the foreign-exchange liquidity of the country. This robust support helped mitigate global economic pressures. Additionally, interventions from the Reserve Bank of India played a crucial role in the rupee's ascent, as domestic equities began the day on a positive note, signaling encouraging market sentiments.
  
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• Trump’s face debuts on US currency, $1 coins run ‘out of stock’ within hours

  03-09-2026 06:16 via timesofindia.indiatimes.com
  
  A freshly minted $1 coin has been released to celebrate America's 250th anniversary, featuring the portrait of Donald Trump. While federal regulations usually prevent living presidents from appearing on currency, unique allowances have made this release possible. The coins flew off the shelves just hours after their launch on Wednesday, with select coins featuring a July 4th privy mark hidden among them, showcasing a new branding initiative.
  
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• Top stocks to buy today: Stock recommendations for September 3, 2026 - check list

  03-09-2026 05:35 via timesofindia.indiatimes.com
  
  Top stock market recommendations: Bank of Maharashtra, Glenmark Pharma, and Tata Technologies have been shared as the top stocks to buy today on September 3, 2026 by Aakash K Hindocha, Vice President - Research, Nuvama Professional Clients Group/Nuvama Wealth.
  
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• Tata Sons clears 10k cr for AI, with conditions attached

  03-09-2026 05:02 via timesofindia.indiatimes.com
  
  Tata Sons' board approved a significant Rs 10,000 crore capital infusion for Air India. This investment is contingent upon business case presentations from the airline and other ventures. The decision follows a pause in equity injections after Air India's doubled losses in FY26. Tata Sons' ability to provide guarantees is also constrained by an RBI application. Singapore Airlines may need to invest Rs 3,350 crore to maintain its stake.
  
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• Oil price today: Crude continues to trade beyond $95 per barrel

  03-09-2026 04:04 via timesofindia.indiatimes.com
  
  Oil prices took a minor dip on Thursday following a turbulent trading day. Investors are closely monitoring the repercussions of the US-Iran strikes on oil supply lines. Activity in the Strait of Hormuz is currently lower than average. This disruption fosters worries regarding global oil availability and possible price hikes as countries explore alternative sources while depending on diminishing reserves.
  
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