Economy news

• Tax raid finds Rs 4.34 lakh forex; man wins ITAT case with sister-in-law’s help

  01-10-2026 23:20 via timesofindia.indiatimes.com
  
  During the operation, officials discovered Rs 1.12 crore in Indian currency and foreign currency worth Rs 4.34 lakh. The man was subsequently taken in for questioning by the tax authorities. Despite the investigation team's acceptance of the explanation, the AO treated both the Indian cash and foreign currency recovered during the search as unexplained money under Section 69A.
  
  Read more

• Wife gets late husband’s job, leaves in-laws; HC orders 25% salary in mother-in-law’s account

  01-10-2026 20:26 via timesofindia.indiatimes.com
  
  In this case, a widow secured a government job under this provision but later allegedly left her late husband's parents on their own. The Rajasthan High Court explained that a compassionate appointment is intended to provide monetary support to a family struggling to cope with the sudden death of its sole earning member.
  
  Read more

• Govt limits sugar stock limit to 1,000 quintals ahead of festive season

  01-10-2026 18:03 via timesofindia.indiatimes.com
  
  The Centre will implement new stock limits for sugar dealers starting October 15 until November 30. The inventory cap has been set at 1,000 quintals with a 15-day holding period. This decision follows a notable decrease in ex-mill sugar prices and aims to control hoarding during the festive season. Kolkata and Assam have been given slightly higher stock limits due to distribution needs.
  
  Read more

• BMW left overnight after puncture, found burnt; insurer rejects claim, commission orders Rs 70L

  01-10-2026 17:35 via timesofindia.indiatimes.com
  
  According to the complaint filed by the man, he left the BMW on the highway overnight after it suffered a puncture. However, the next morning the vehicle was found to be completely burnt. The incident was subsequently recorded by the local police and fire department. The BMW carried an Insured Declared Value (IDV) of Rs 70,00,000, while the had paid an insurance premium of Rs 1,65,996 for the policy.
  
  Read more

• Advertisement

• Indian IT sector layoffs: Which jobs are facing pressure & which skills are in demand?

  01-10-2026 15:12 via timesofindia.indiatimes.com
  
  AI is not just making some jobs in the Indian IT sector obsolete, it is also forcing firms to adapt their business models as the demand for their traditional services faces disruption. In FY27, hiring is expected to remain subdued, while attrition is increasingly being backfilled selectively rather than one-for-one.
  
  Read more

• Gadkari backs IIT tech; waste plastic used in bitumen for national highway for first time

  01-10-2026 14:31 via timesofindia.indiatimes.com
  
  A pilot test section was laid recently along the main carriageway of NH-44 in Jhansi. Officials involved in the pilot said the technology could lower the consumption of conventional bitumen by around 4%, reducing demand for a material that India largely imports to meet its domestic needs.
  
  Read more

• Anthropic IPO Risks and Power: draft filing flags existential AI threat; governance concentrates control

  01-10-2026 12:27 via timesofindia.indiatimes.com
  
  Anthropic plans a significant IPO, targeting a $2 trillion valuation emphasizing both transformative potential and risks of advanced AI. The company highlights that AI can enhance quality of life but also poses existential risks if not properly managed. Its prospectus dedicates substantial space to risk factors amid ambitious financial commitments. Anthropic's governance structure seeks concentrated control while warning about potential issues of such concentration.
  
  Read more

• Public sector banks to stay closed on Saturdays? PIB debunks fake govt notification

  01-10-2026 11:32 via timesofindia.indiatimes.com
  
  PIB Fact Check has debunked claims about a government notification for public sector banks declaring Saturdays as holidays. A fake document circulated on social media created confusion around the banking holiday issue. Public sector banks, including the State Bank of India, have not received any such notifications. Discussions regarding the five-day banking week are ongoing between the Indian Banks' Association and the United Forum of Bank Unions.
  
  Read more

• Advertisement

• Why is stock market crashing? Sensex, Nifty head for worst losing streak in 25 years

  01-10-2026 11:20 via timesofindia.indiatimes.com
  
  Dalal Street is experiencing its longest losing streak in nearly 25 years, with investors incurring significant losses. Foreign investor outflows and rising US bond yields are contributing to market concerns and pressure. The BSE Sensex and NSE Nifty50 have fallen notably, with major selloffs occurring across multiple sectors. Additionally, the rupee has shown weakness against the dollar as crude prices approach $100 per barrel.
  
  Read more

• Rs 6L cr wiped out! D-Street suffers worst week in 25 yrs; what caused the crash?

  01-10-2026 11:20 via timesofindia.indiatimes.com
  
  Dalal Street is experiencing its longest losing streak in nearly 25 years, with investors incurring significant losses. Foreign investor outflows and rising US bond yields are contributing to market concerns and pressure. The BSE Sensex and NSE Nifty50 have fallen notably, with major selloffs occurring across multiple sectors. Additionally, the rupee has shown weakness against the dollar as crude prices approach $100 per barrel.
  
  Read more

• GST collections cross Rs 2 lakh crore again, rise 14.7% in September

  01-10-2026 10:04 via timesofindia.indiatimes.com
  
  India's GST collections soared past Rs 2 lakh crore in September, showcasing a commendable increase. Revenue from local transactions saw a growth of 10.1%, significantly boosting total collections. Meanwhile, GST revenues linked to imports surged by 25.9%, leading to demands for a detailed evaluation of these statistics. Notable increases were reported by states like Maharashtra and Karnataka, while year-to-date collections illustrate a positive trend compared to last year's performance.
  
  Read more

• Fake gold hallmark stamps may rise; GJC flags fraud risk for buyers

  01-10-2026 09:34 via timesofindia.indiatimes.com
  
  Consumers bear the hallmarking cost when purchasing jewellery. However, many buyers are still unaware that they can verify the Hallmark Unique Identification (HUID) number through the Bureau of Indian Standards' Care mobile application. Data from the government cited by the GJC shows that the number of recognised assaying and hallmarking centres (AHCs) rose to 1,577 in July 2026 from 1,220 in July 2022.
  
  Read more

• India's factory growth hits 7 month high in September, thanks to demand and hiring boost

  01-10-2026 09:01 via timesofindia.indiatimes.com
  
  In September, India's manufacturing sector experienced significant progress with rising demand and production levels. The HSBC India Manufacturing Purchasing Managers’ Index climbed to 55.1, reflecting vibrant business activity. Companies increased their hiring practices at the quickest rate since May, projecting a more positive outlook. Growth in new orders resulted in higher inventories, suggesting expectations of sustained demand, while input costs and selling prices also increased, wit
  
  Read more

• Consumer loans, credit card dues enter slow lane

  01-10-2026 08:21 via timesofindia.indiatimes.com
  
  Increase 2.4% and 3.6% YoY, gold loans glitter once again
  
  Read more

• Indian oil refiners are now sending ships into Hormuz to get cheaper oil - here's why

  01-10-2026 08:18 via timesofindia.indiatimes.com
  
  Indian oil refiners are now chartering tankers to travel through the Strait of Hormuz and collect crude from inside the Persian Gulf. This marks a notable change in their approach as they seek to lower costs and strengthen the reliability of their supply chains.
  
  Read more

• Gold price prediction: Where are gold and silver headed on October 1, 2026?

  01-10-2026 07:55 via timesofindia.indiatimes.com
  
  Gold and silver price prediction today: MCX Gold has moved higher after taking support near the 147,000 levels, indicating renewed buying interest at lower levels. The price structure remains positive as gold continues to hold above its key support zone, suggesting that the broader uptrend is still intact.
  
  Read more

• Scotch whisky gets cheaper in India after trade deal with US; check new prices

  01-10-2026 07:33 via timesofindia.indiatimes.com
  
  Under the India-UK agreement, the import tariff on British whisky was reduced to 75% from 150%, effectively cutting the rate by half. The tariff is scheduled to decline further to 40% over the next 10 years. However, the reduction in import duty does not result in a similar reduction in the final retail price.
  
  Read more

• Scotch whisky gets cheaper in India after trade deal with UK; check new prices

  01-10-2026 07:33 via timesofindia.indiatimes.com
  
  Under the India-UK agreement, the import tariff on British whisky was reduced to 75% from 150%, effectively cutting the rate by half. The tariff is scheduled to decline further to 40% over the next 10 years. However, the reduction in import duty does not result in a similar reduction in the final retail price.
  
  Read more

• Piyush Goyal gets a ‘trade minister for life’ tag from US trade chief at G20

  01-10-2026 05:58 via timesofindia.indiatimes.com
  
  At the G20 trade ministers' meeting in Milwaukee, US trade representative Jamieson Greer discussed key trade issues with Indian minister Piyush Goyal. They focused on food security, steel overcapacity, and the Most-Favoured-Nation principle, which Greer suggested re-examining. Goyal emphasized the importance of distinguishing between legitimate measures and the weaponization of food supply chains. Discussions also included efforts toward finalizing an interim India-US Bilateral Trade Agreement,
  
  Read more

• LPG price hike: 19-kg commercial cylinder gets Rs 62.50 costlier

  01-10-2026 05:26 via timesofindia.indiatimes.com
  
  The cost of 19-kg commercial LPG cylinders has surged by Rs 62.50, now totaling Rs 2,810. Similarly, aviation turbine fuel (ATF) prices have jumped by around Rs 16 per litre, reaching Rs 137. From October 1, 2026, users will need biometric Aadhaar authentication to book subsidized LPG refills. Failure to register will still allow access to LPG at market rates without any subsidies.
  
  Read more

• Top stocks: Which stocks are recommended for buying on October 1, 2026? Check list

  01-10-2026 04:09 via timesofindia.indiatimes.com
  
  Top stock market recommendations: Aakash K Hindocha, Vice President - Research, Nuvama Professional Clients Group/Nuvama Wealth has pickled DLF, Adani Green Energy, and PVR INOX as the top stocks to buy today on October 1, 2026.
  
  Read more

• Oil prices stay flat as markets weigh US-Iran talks and Middle East supply

  01-10-2026 03:49 via timesofindia.indiatimes.com
  
  Despite slight changes in oil prices today, Brent and WTI Crude both experienced gains in their last trading sessions. Investors remain alert to the evolving US-Iran negotiations, as their outcomes are likely to sway market dynamics. Furthermore, Saudi Arabia has restarted oil tanker loading activities via its East-West Pipeline. Recent statistics presented a mixed bag regarding US crude inventory levels, influencing market attitudes.
  
  Read more

Follow @India_Economy_ on Twitter!