Economy news

• Woman declares Rs 67.4 lakh ancestral jewellery in ITR; tax dept sends notice, she wins in ITAT

  05-10-2026 23:23 via timesofindia.indiatimes.com
  
  The assessment threw up two separate issues. The first concerned jewellery worth Rs 67,39,949 that the woman had disclosed in Schedule AL of her income tax return. The tribunal also examined whether the Rs 12 lakh paid to the HUF represented a genuine brokerage expense when the same person, the HUF's Karta/coparcener, had already received another Rs 12 lakh for the same transaction.
  
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• Indian workers spend Rs 785 monthly on commute; urban travel cost to office 70% higher: Govt survey

  05-10-2026 20:52 via timesofindia.indiatimes.com
  
  According to the National Household Travel Survey, Indian workers spend an average of Rs 785 monthly on commuting. Urban workers face higher commuting costs, averaging Rs 1,044 compared to Rs 612 in rural areas. The survey indicates a gender gap, with male workers spending more than female workers on transportation. Students in urban areas spend Rs 617 on daily travel, while those in rural areas spend Rs 361.
  
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• PPF at 7.1%, SCSS at 8.2%, NSC at 7.7%: Check Oct-Dec post office scheme rates

  05-10-2026 18:38 via timesofindia.indiatimes.com
  
  Latest small savings schemes interest rates: The Ministry of Finance decides the interest rates for all small savings schemes every quarter. For the October to December 2026 quarter, the interest rates on all small savings schemes have been kept unchanged. The decision extends the period of unchanged small savings rates to nearly two years.
  
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• Airfares soar: Delhi-Hyderabad up 68%; IndiGo hikes surcharge by up to Rs 350

  05-10-2026 14:31 via timesofindia.indiatimes.com
  
  Data from global aviation analytics firm OAG shows that airlines have scheduled 5% fewer domestic flights for the October-December quarter than during the same period last year. However, total seat capacity has fallen by only 1.2%. This indicates that airlines are operating fewer flights while deploying larger aircraft with more seats, keeping overall capacity relatively steady.
  
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• Wall Street's $10 billion bet on Indian hospitals becomes a blame game among stakeholders

  05-10-2026 12:49 via timesofindia.indiatimes.com
  
  Wall Street has significantly invested in Indian hospitals, focusing on expanding hospital infrastructure and care capacity. This influx of foreign capital has helped private healthcare providers grow, yet costs are escalating for patients. Medical inflation is alarming, with treatment at private facilities vastly outpacing public healthcare costs. Insurers and hospitals are grappling over rising medical expenses and coverage limitations for patients.
  
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• Man paid Rs 1.73 cr for Gurgaon flat, waited for a decade; commission orders refund + 12% interest

  05-10-2026 12:42 via timesofindia.indiatimes.com
  
  In 2012, the man booked the 2,600 sq ft apartment in a project located in Sector 83, Gurgaon. The basic sale price was fixed at Rs 6,428.50 per sq ft, apart from other applicable charges. The basic sale price of the apartment was stipulated at Rs 1.67 crore. Relying on the assurances given by the developer, the man obtained a home loan and ultimately paid Rs 1,72,93,048.76 towards the apartment.
  
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• Jio plans to launch IPO on October 21: Listing, face value and key details

  05-10-2026 12:13 via timesofindia.indiatimes.com
  
  Mukesh Ambani's Jio Platforms is preparing for a significant IPO to raise approximately $3.8 billion. The IPO is expected to open on October 21 and shares will debut on October 28. This IPO aims to reduce debt and will involve a fresh issue of equity shares. Jio Platforms seeks a valuation between $143 billion and $146 billion through this offering. Reliance Industries, owning about 66.
  
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• RBI Rate Hike Debate: Inflation and crude fuel calls for October move; but what about growth costs?

  05-10-2026 10:23 via timesofindia.indiatimes.com
  
  To begin with, the inflation trajectory, at least until now, has largely tracked the RBI's own projected path. Unless crude prices durably reset the RBI's forward expected inflation trajectory, it is difficult to justify a hike now that the RBI itself did not deem necessary when it published its August projections consistent with the current levels.
  
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• Tata Sons Chandrasekaran hails India’s economy, lists 3 key areas for Vikisit Bharat

  05-10-2026 09:58 via timesofindia.indiatimes.com
  
  During the IFQM Symposium 2026, N Chandrasekaran showcased India's economic resilience, pointing to robust domestic demand as a foundation for growth. He underscored the importance of investing in human resources and energy security for sustainable advancement. Highlighting key economic metrics like a low current account deficit and solid bank NPAs, he advocated for enhanced quality in manufacturing to elevate India's competitive edge and support inclusive development.
  
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• Bengaluru-Mumbai Vande Bharat sleeper set to cut 24-hour journey to under 16

  05-10-2026 09:45 via timesofindia.indiatimes.com
  
  The country's second Vande Bharat sleeper service is expected to substantially reduce the time taken to travel by rail between Bengaluru, India's technology hub, and Mumbai, its financial capital. Although the official launch date has not yet been declared, the railway zones have been asked to commence the service at the earliest convenient opportunity.
  
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• IndiGo hikes fuel charges for all flights: Here's how much more you will end up paying

  05-10-2026 09:11 via timesofindia.indiatimes.com
  
  IndiGo will implement new fuel charges for its flights starting from October 6, 2026. The increase in charges will vary based on the distance of travel for domestic flights. For international flights, the revised fuel charges will range between Rs 1,000 and Rs 10,000. This decision follows the considerable increase in aviation turbine fuel prices amid geopolitical tensions.
  
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• India-US trade talks hit ‘plateau’

  05-10-2026 08:06 via timesofindia.indiatimes.com
  
  India and the US have reached a challenging stage in their trade negotiations, according to Finance Minister Nirmala Sitharaman. She indicated that both nations must navigate a significant trade imbalance affecting their discussions. Trade talks continue, but reaching further concessions seems increasingly difficult as both sides evaluate their positions. Meanwhile, India is actively seeking bilateral agreements, especially with the European Union, to enhance market access.
  
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• Rupee hovers near 96 as oil stays above $100 per barrel, foreign selling persists

  05-10-2026 07:15 via timesofindia.indiatimes.com
  
  The rupee started off on a weaker note against the US dollar due to soaring crude oil prices and foreign investors selling off. In response, the Reserve Bank of India is stepping in to curb volatile changes, as forex reserves dwindle. Market analysts anticipate a possible interest rate increase following the upcoming monetary policy meeting, while the dollar index remains robust.
  
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• Canada ‘looking forward’ to seal trade deal with India as fifth CEPA round begins

  05-10-2026 07:01 via timesofindia.indiatimes.com
  
  India and Canada are gearing up for the fifth session of negotiations on the Comprehensive Economic Partnership Agreement, which will take place in Ottawa. The objective is to wrap up the trade deal by late 2026, with priority given to collaboration in sectors like energy, critical minerals, aerospace, and artificial intelligence.
  
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• Man sells ancestral land for Rs 8 cr, claims LTCG exemption; gets notice with Rs 6.36 cr additions

  05-10-2026 06:31 via timesofindia.indiatimes.com
  
  In the tax return that he filed, the man declared LTCG of Rs 7.73 crore after accounting for certain expenses. He claimed tax exemptions of Rs 2.64 crore under Section 54F, which relates to residential property, and Section 54B, applicable to agricultural property.However, the Assessing Officer (AO) was not satisfied with the documents that were submitted by the taxpayer to support his claims
  
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• Nikkei jumps 2.5% above 70,000 to three-month high as AI stocks rally

  05-10-2026 05:43 via timesofindia.indiatimes.com
  
  Japan's Nikkei index experienced a remarkable rise of over 2% on Monday, breaking the 70,000 mark for the first time in three months. The surge was largely driven by chip manufacturers like Tokyo Electron and Advantest, while Kioxia's contribution fell short. The optimistic trend in Japanese stocks was fueled by Wall Street's strong performance, stemming from weaker US jobs data alleviating rate hike anxieties.
  
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• Top stocks to buy: Stock recommendations for October 5, 2026 week - check list

  05-10-2026 04:38 via timesofindia.indiatimes.com
  
  Stock market recommendations: LG Electronics, and Arvind - Motilal Oswal Wealth Management Research Desk has picked these as the top stocks to buy for the week starting October 5, 2026.
  
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• Oil prices ease slightly as G7 and Middle East crude supplies set to hit market

  05-10-2026 04:00 via timesofindia.indiatimes.com
  
  Oil prices saw a modest decline as fresh shipments from the Middle East hit the market. The G7's move to tap into emergency reserves reflects growing energy apprehensions. Nevertheless, the crude oil market stays turbulent, as conflicts in the Gulf region persist. Notably, Yemen's Saudi-backed government has initiated a military operation against the Houthis, further complicating the situation. This evolving landscape continues to impact global energy supplies and market pricing.
  
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• HMSI flags pressure from rising costs

  05-10-2026 03:21 via timesofindia.indiatimes.com
  
  Honda Motorcycle and Scooter India anticipates a booming festive season compared to last year. Dealers are optimistic about the demand during the festivities, and dispatches are proceeding well. Despite better business conditions, rising material costs are creating profitability challenges for the company. The situation in West Asia is a significant factor contributing to increased costs. Overall, while demand is improving, profitability remains a complex issue for Honda.
  
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• EY India chief seeks easier GST refunds, tax credits

  05-10-2026 02:14 via timesofindia.indiatimes.com
  
  EY India chairman Rajiv Memani emphasized the importance of expediting GST refunds and addressing input tax credit issues. He suggested allowing companies to claim expenses related to travel and insurance as eligible credits. Memani highlighted the successful impact of recent GST reforms on India's economic growth. He projected FDI flows could exceed $100 billion this year, which may double in three years.
  
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• Credit offtake stays ahead of banks' deposit growth

  05-10-2026 02:01 via timesofindia.indiatimes.com
  
  In the second quarter of FY27, advances at several banks grew significantly faster than deposit growth. Smaller banks, such as Tamilnad Mercantile Bank and Karnataka Bank, recorded impressive credit expansions. Larger public sector banks like Bank of India and Canara Bank also saw substantial growth in advances. However, deposit growth varied, with some banks struggling to keep pace with advances.
  
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• Anup Bagchi's Act 1: Set HDFC house in order

  05-10-2026 02:00 via timesofindia.indiatimes.com
  
  Anup Bagchi has been chosen as the new CEO of HDFC Bank after Sashidhar Jagdishan's decision not to continue. Bagchi's leadership will address critical issues within the bank, including leadership succession and regulatory concerns. He aims to recapitalize the brand while focusing on technology and customer service improvements. Additionally, he encounters challenges with insurance sales amid evolving distribution rules.
  
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• RBI may end rate-cut cycle with first hike since February 2023

  05-10-2026 01:49 via timesofindia.indiatimes.com
  
  Bankers expect the Reserve Bank of India to raise the repo rate by 25 basis points soon. This marks the end of the rate-cutting phase that began in February 2025. Economists predict inflation will exceed the RBI’s forecasts, necessitating tightening. Experts anticipate resilient growth will provide the RBI room to act despite external pressures. The focus will remain on managing liquidity and aligning rates with policy measures.
  
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• India in striking distance of 8% growth, says Shaktikanta Das

  05-10-2026 01:24 via timesofindia.indiatimes.com
  
  India is expected to achieve close to 8% economic growth, aided by recent reforms and increased investment. The resilience of the economy is attributed to strategies implemented over the past decade and strong domestic demand. Former RBI governor Shaktikanta Das emphasized the significance of the financial sector and external management in supporting growth. Further opportunities are anticipated in the coming years, particularly in AI and infrastructure financing.
  
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