Economy news

• ILO: 100 crore covered under social security

  16-07-2026 02:54 via timesofindia.indiatimes.com
  
  India's social protection system now reaches 100 crore people, covering over two-thirds of its population. This significant expansion reflects the government's commitment to inclusive development and social welfare initiatives. The International Labour Organisation director general highlighted this achievement during a Brics meeting. Social protection coverage has grown substantially from 25 crore citizens in 2015 to over 100 crore by 2026.
  
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• More brands in store, but price cuts may lag

  19-07-2026 22:22 via timesofindia.indiatimes.com
  
  New British brands are expected to enter Indian markets, offering consumers more retail choices.While duty cuts are beneficial, rupee depreciation may limit immediate price reductions.Some brands are pausing price hikes and reducing costs on specific product categories.Global supply chain issues and currency volatility also impact pricing strategies for businesses.Over time, consumers can anticipate more competitive pricing as import duties are further reduced.
  
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• Industry seeks changes to Companies Bill

  19-07-2026 22:16 via timesofindia.indiatimes.com
  
  The corporate sector proposes changes to the Companies Act amendment bill.Industry executives seek greater flexibility in conducting general meetings.Proposals related to auditor cooling-off periods are causing significant concern.Firms argue these changes could limit professional capabilities and increase costs.The government aims to enhance audit quality and auditor independence through these amendments.
  
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• Government may seek Parliamentary nod for additional spending

  19-07-2026 22:04 via timesofindia.indiatimes.com
  
  Finance Minister Nirmala Sitharaman may seek parliamentary approval for additional spending. Increased expenditure on fertiliser subsidies and electronics manufacturing initiatives is driving this need.GST and direct tax revenues remain on track, and DIPAM is pushing for additional realisations.The IDBI Bank transaction's finalisation could provide significant financial comfort.Sitharaman aims to maintain the government's fiscal deficit target of 4.3% of GDP.
  
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• Making waves underground: India's first undersea rail tunnel takes shape

  18-07-2026 17:58 via timesofindia.indiatimes.com
  
  India's first undersea rail tunnel excavation has commenced for the bullet train project. A giant Tunnel Boring Machine began its journey beneath Thane Creek on Saturday. This marks the start of excavation on the seven-kilometer undersea stretch. The machine is among the largest ever used for rail tunnel construction. This project aims to connect Mumbai and Ahmedabad with high-speed rail.
  
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• IRDAI launches comic book series to simplify life insurance for consumers

  18-07-2026 17:54 via timesofindia.indiatimes.com
  
  IRDAI chairman Ajay Seth unveiled a new comic book series to improve life insurance literacy.This initiative aims to simplify complex insurance concepts for the general public.The stories feature a young advisor explaining financial decisions and their long-term impact.The launch supports IRDAI's "Insurance for All" vision for informed financial planning.Industry data highlights a significant life insurance protection gap across India.
  
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• India's power sector set for strong FY27 growth on rising demand, capacity additions: Report

  18-07-2026 15:51 via timesofindia.indiatimes.com
  
  India's power sector anticipates sustained growth through fiscal year twenty twenty-seven. Surging electricity demand and record peak consumption fuel this positive outlook. Continued capacity additions, especially renewables, will strengthen utility performance. Thermal power remains central, providing dependable base-load electricity generation. Energy security and storage development underpin the sector's long-term expansion.
  
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• Punjab National Bank Q1FY27 net profit up 213% to Rs 5253 crore

  18-07-2026 12:59 via timesofindia.indiatimes.com
  
  Punjab National Bank reported a substantial net profit increase for the quarter ending June 30, 2026.The bank's standalone net profit rose over 200 percent year-on-year.This growth was primarily driven by a sharp decline in tax outgo.Non-interest income saw a decrease, impacting overall operating income.Asset quality improved, with gross and net NPAs declining significantly.
  
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• ITR filing: Sold shares, property or crypto this year? Here's what you must know before filing your income tax return

  18-07-2026 12:59 via timesofindia.indiatimes.com
  
  With the Income tax department increasingly using technology, data analytics, AIS, broker reports, mutual fund disclosures and overseas information exchange, filing an accurate ITR now requires not only correct tax computation but also complete and consistent reporting.
  
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• IDBI Bank Q1FY27 net profit rises 3.3% to Rs 2007 crore

  18-07-2026 12:56 via timesofindia.indiatimes.com
  
  IDBI Bank reported a 3.3% rise in standalone net profit for June 2026 quarter. Lower provisions supported earnings, offsetting a weaker operating profit. Net interest income saw a slight decline while non-interest income dropped significantly. Deposits decreased sequentially, but advances showed modest growth. Asset quality remained stable with improved NPAs and strong capital ratios.
  
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• Pakistan to revise fuel prices daily; current account slips into $139 million FY26 deficit

  18-07-2026 12:52 via timesofindia.indiatimes.com
  
  Pakistan will now revise fuel prices daily due to volatile global oil markets. This change aims to increase transparency in fuel pricing mechanisms for consumers. The nation also reported a current account deficit after experiencing a surplus last year. Efforts are underway to boost domestic energy production and attract foreign investment. However, petrol pump owners have rejected the new deregulation policy and threatened protests.
  
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• New money? India's currency might soon get a plastic makeover

  18-07-2026 10:14 via timesofindia.indiatimes.com
  
  India's Reserve Bank is exploring polymer banknotes for enhanced durability. Manufacturers are invited to bid for specialized plastic substrate materials. Polymer notes offer greater resistance to moisture and dirt than paper. This move aims to reduce currency replacement and printing costs. Advanced security features will also be incorporated into the new notes.
  
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• Textile sector to sew loose ends as FTAs kick in

  18-07-2026 00:20 via timesofindia.indiatimes.com
  
  New free trade agreements offer Indian textile exporters significant tariff advantages.The UK deal eliminates up to twelve percent tariffs, boosting competitiveness against rivals.Companies anticipate increased orders and potential export growth over the next few years.However, fragmented supply chains and higher input costs present ongoing challenges.Industry experts suggest government incentives could strengthen domestic fabric ecosystems.
  
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• RIL Q1 profit plunges 25% to 23,000 crore, revenue up 25%

  17-07-2026 23:28 via timesofindia.indiatimes.com
  
  Reliance Industries saw a 25% profit decline, yet revenue grew significantly.Strong performances from oil-to-chemicals and Jio digital services boosted overall results.Jio's earnings climbed, supported by subscriber growth and increased average revenue per user.Retail and oil and gas divisions showed stable or slightly varied ebitda figures.The company maintains a healthy cash balance to cover its net debt obligations.
  
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• Which states are the most investor friendly? Gujarat tops Niti Aayog index; Maharashtra & Tamil Nadu rank next

  17-07-2026 18:00 via timesofindia.indiatimes.com
  
  The index evaluates states and UTs across eight key pillars: infrastructure, business climate, resources, government policy, regulatory ease, institutional environment, financial health and environmental resilience.
  
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• SpaceX shares fall! Market cap of Elon Musk-led firm set to see $1 trillion drop from all-time high

  17-07-2026 17:09 via timesofindia.indiatimes.com
  
  After dropping as much as 6.9% in early US trading to $122.12 per share, the stock recovered some of its losses. At that level, the company's market value stood at $1.61 trillion, down from its high of $2.64 trillion seen at the close of June 16.
  
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• Apple overtakes Nvidia to become world's most valuable company again

  17-07-2026 16:52 via timesofindia.indiatimes.com
  
  Apple Inc. has regained its position as the world's most valuable company. Nvidia's stock experienced a sharp decline, reducing its market capitalization significantly. Investors are now favoring companies with strong long-term growth prospects over AI boom beneficiaries. Apple's recent share surge and China's approval for Apple Intelligence support its valuation. HSBC upgraded Apple's stock, citing an improving operational outlook for the company.
  
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• RIL Q2 FY27 results: Reliance Industries posts 22% fall in profit on one-time Asian Paints caveat from last year; revenue rises 25% yoy

  17-07-2026 16:27 via timesofindia.indiatimes.com
  
  RIL results: Revenue from operations rose 25% year-on-year to Rs 3.11 lakh crore in the June quarter, compared with Rs 2.48 lakh crore in the same quarter last year. Quarterly EBITDA increased 10% from a year earlier to Rs 54,067 crore.
  
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• RIL Q2 FY27 results: Reliance Industries beats estimates with record quarterly EBITDA; revenue rises 25% yoy

  17-07-2026 16:27 via timesofindia.indiatimes.com
  
  RIL results: Revenue from operations rose 25% year-on-year to Rs 3.11 lakh crore in the June quarter, compared with Rs 2.48 lakh crore in the same quarter last year. Quarterly EBITDA increased 10% from a year earlier to Rs 54,067 crore.
  
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• US stock market today: Fresh selling in AI-related stocks drags indices down; oil prices rise

  17-07-2026 16:04 via timesofindia.indiatimes.com
  
  The S&P 500 declined 1.3%, putting it on course for its first weekly loss in three weeks and only its third losing week in the past 16. As of 9:35 a.m. Eastern time, the Dow Jones Industrial Average had fallen 451 points, or 0.9%, while the Nasdaq Composite was down 2.1%.
  
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• Strait of Hormuz closure: Why crude oil prices haven’t spiralled out of control amid US-Iran conflict

  17-07-2026 14:29 via timesofindia.indiatimes.com
  
  Brent crude prices in the spot market briefly surged to around $144 per barrel before easing as markets adjusted. Yet as ADB notes in its report - despite this unprecedented supply shock, crude oil prices did not reach levels seen during the 1973 Arab oil embargo or even the 1990 Gulf war, if one were to inflation-adjust the prices.
  
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• India's current account deficit likely to widen to 1.5% of GDP in FY27 as higher oil prices weigh: Report

  17-07-2026 14:03 via timesofindia.indiatimes.com
  
  India's current account deficit is projected to widen significantly by fiscal year 2027. Higher crude oil and commodity prices will drive this projected increase in the deficit. Merchandise imports grew faster than exports in June, widening the trade gap. Petroleum exports saw a substantial sequential decline during the same period. Services sector surplus narrowed, though it continues to cushion the external account.
  
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• LPG subsidy bill races beyond budget, may hit Rs 1 lakh crore this fiscal

  17-07-2026 12:27 via timesofindia.indiatimes.com
  
  LPG subsidy spending may surpass one lakh crore rupees in FY27. This projection significantly exceeds the budget's thirty thousand crore rupee allocation. Higher fuel prices and ongoing war uncertainty are driving this increased subsidy burden. Government finances face pressure from these rising subsidy commitments. Capital expenditure is expected to remain measured during the first half of FY27.
  
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• Mumbai-Ahmedabad bullet train update: Progress so far and Japan's E10 plan

  17-07-2026 12:11 via timesofindia.indiatimes.com
  
  India's first bullet train project between Mumbai and Ahmedabad is progressing well. Initial operations will commence using Indian high-speed trains in 2027. Japan's next-generation E10 Shinkansen trains will be introduced later, after 2030. The first operational stretch will connect Surat and Bilimora in Gujarat. This initiative significantly reduces travel time between the two major cities.
  
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• Niti Aayog's roadmap to turn India into $691 billion bioeconomy

  17-07-2026 11:43 via timesofindia.indiatimes.com
  
  NITI Aayog proposes six national initiatives for India's biotechnology sector. This roadmap aims for a $691 billion bioeconomy by the year 2035. These missions will strengthen capabilities in healthcare and agriculture. They also focus on industrial biotechnology and disease surveillance. The plan includes a Rs 50,000-crore growth fund.
  
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• Why India's first hydrogen train is special - explained

  17-07-2026 10:55 via timesofindia.indiatimes.com
  
  With the launch of a hydrogen train, India has undoubtedly taken a big leap in the sphere of greener transportation.India’s first hydrogen-powered train has 10 coaches, with the capacity to carry 2,600 passengers. It will run between Jind and Sonipat in Haryana.
  
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• Gold price prediction: Is it time to buy gold on dips? Check July 17, 2026 outlook

  17-07-2026 08:55 via timesofindia.indiatimes.com
  
  Gold price prediction today: Gold prices are favouring a buy on dips strategy, says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
  
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• Asian markets tumble as AI stock sell-off deepens; Nikkei sinks nearly 6%, HSI plunges 2%

  17-07-2026 08:10 via timesofindia.indiatimes.com
  
  Asian stock markets experienced significant selling pressure on Friday.Japan's Nikkei 225 and Taiwan's benchmark saw sharp declines.Concerns over artificial intelligence stock valuations and Middle East conflict weighed on investors.Oil prices extended gains as Middle East tensions escalated.US futures traded lower following a mixed session on Wall Street.
  
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• Stock market rally: Sensex rises over 750 points, Nifty50 crosses 24,250 - top reasons for rise

  17-07-2026 08:08 via timesofindia.indiatimes.com
  
  The sharp rally in Indian equities came even as global markets remained under heavy pressure. Japan's Nikkei tumbled more than 5%, while Taiwan's Weighted Index plunged 6% as the sell-off in semiconductor stocks continued.
  
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• India's first hydrogen-powered train flagged off by PM Modi; check route, timings, how it works

  17-07-2026 07:51 via timesofindia.indiatimes.com
  
  India’s first hydrogen train is a 10-coach passenger offering. According to Indian Railways, globally the few operational or under testing hydrogen trains have 2-3 passenger coaches, making India’s first hydrogen train the longest of its type in the world.
  
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