Economy news

• Starlink gets India-ready with 20 gateway sites, local data controls

  07-10-2026 11:15 via timesofindia.indiatimes.com
  
  Starlink has completed a major ground infrastructure with 20 gateway sites and hundreds of antennas in India. The company has developed security controls to keep Indian users’ data within India while engaging with local regulators. Starlink has been granted licenses to operate in India after five years of collaboration with industry stakeholders. Lauren Dreyer highlighted India's digital advancements during her speech at the India Mobile Congress.
  
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• US sanctions Indian firms, individuals as Iran oil crackdown widens

  08-10-2026 21:50 via timesofindia.indiatimes.com
  
  On Thursday, the United States targeted two Mumbai-based companies over their alleged oil trade involvement with Iran. The sanctions affected five Indian nationals connected to SSPL Solutions Private Limited and Samudra Marine Services Private Limited. These measures are part of a broader crackdown on Iran under 'Operation Economic Outcast'. The U.S. government aims to curb Iranian oil revenues fueling military and cyber activities.
  
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• Woman claims 2.5 acres was ancestral after stepmother sold it; why HC rejected plea

  08-10-2026 18:41 via timesofindia.indiatimes.com
  
  The Madras High Court held that the property was not ancestral but self-acquired. As a result, under Hindu law, the man and his mother were legally entitled to execute the gift settlement deed in favour of the man’s second wife, who could subsequently sell the property.
  
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• GST reforms: Top things announced by FM Sitharaman-led GST Council & what they mean for businesses

  08-10-2026 16:38 via timesofindia.indiatimes.com
  
  The GST Council approved a series of changes aimed at easing compliance, including removing the power of tax officials to make arrests and raising the prosecution threshold fivefold to Rs 5 crore. FM Nirmala Sitharaman said the GST Council had largely dealt with anomalies arising from input tax credit (ITC) and addressed the issue of duty inversion.
  
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• As Trump sours H-1B visa dream, which Indian IT professionals face biggest hit?

  08-10-2026 15:41 via timesofindia.indiatimes.com
  
  Three H-1B related changes are stacking on top of each other: the multiple $100,000 fee proposals, the wage-weighted lottery favoring more senior workers, new layoff and compliance scrutiny, and now the OPT/STEM-OPT $70,000 fee proposal for students looking to work in the US. The pathway is set to become much narrower or worse may even disappear!
  
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• GST Council scraps tax officers' arrest powers; prosecution threshold raised to Rs 5 cr

  08-10-2026 14:01 via timesofindia.indiatimes.com
  
  The GST Council made a landmark decision by abolishing the arrest powers of tax officers. They've raised the prosecution threshold from Rs 1 crore to Rs 5 crore, easing the pressure on small sellers using e-commerce platforms. Union Finance Minister Nirmala Sitharaman announced that notices under Rs 10,000 will no longer be issued, aimed at promoting better GST compliance and alleviating burdens on small businesses.
  
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• Tcs Q2 Results: TCS profit jumps 15% to ₹13,884cr, AI revenue tops $3.1bn; board announces ₹12 dividend

  08-10-2026 13:35 via timesofindia.indiatimes.com
  
  Tata Consultancy Services has reported a notable 15% surge in net profit for the September quarter, achieving Rs 13,884 crore. The operations revenue grew by 11.22% year-on-year, hitting Rs 73,188 crore. AI revenue also surpassed $3 billion, contributing over 10% to the total income. With 4,258 new hires, TCS's workforce now stands at 5,98,056 and an attrition rate of 13.3%.
  
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• India's GDP is booming, but stock market is crashing: What's going wrong?

  08-10-2026 12:49 via timesofindia.indiatimes.com
  
  India is experiencing impressive GDP growth of 7.8%, while the World Bank revises its growth outlook to 7.1%. Yet, Dalal Street faces turbulence as benchmark indices suffer losses exceeding 1%. This is largely due to foreign investors offloading shares and rising bond yields globally, fostering a cautious sentiment in the market.
  
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• AI regulation consultation paper next month, says IT minister Vaishnaw

  08-10-2026 12:22 via timesofindia.indiatimes.com
  
  Union minister Ashwini Vaishnaw announced plans for a Consultation paper on AI regulations to address specific concerns. The focus will include AI safety, deepfakes, user harm, and the need for skilling. The government aims to establish a regulatory framework while involving various stakeholders in the process. This initiative follows recent amendments in IT Rules to combat AI-generated harmful content more effectively.
  
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• Mumbai-Pune in 48 min, Delhi-Varanasi under 4 hours: 7 bullet train routes

  08-10-2026 11:31 via timesofindia.indiatimes.com
  
  Seven new bullet train corridors in works: In the coming years, Indian Railways is looking to make that a reality with seven new bullet train corridors in the works. Bullet trains typically operate at speeds of around 300 kmph, while some definitions of high-speed rail cover services operating at around 220-250 kmph.
  
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• RBI rate hike impact: Bond yields may hold near 7.25% after policy shift

  08-10-2026 10:36 via timesofindia.indiatimes.com
  
  In a significant policy change, the Reserve Bank of India has upped its key interest rate to 5.50% with a 25 basis point hike, the first in nearly four years. This adjustment reflects a shift to a calibrated tightening approach, hinting at potential future increases. However, contrary to market expectations, no new liquidity measures were introduced.
  
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• No MDR on UPI from October 15? Government considers delaying rollout of fees: Report

  08-10-2026 09:51 via timesofindia.indiatimes.com
  
  MDR on UPI: Last month, the government ended the zero-fee regime for UPI by allowing merchants to be charged 0.4% on transactions above Rs 2,000. UPI is used by more than 500 million people across the country for payments ranging from roadside cups of tea to iPhones. The chargeis scheduled to take effect on October 15, coinciding with the annual festive season.
  
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• Gold price prediction: What is the gold price outlook on October 8, 2026?

  08-10-2026 09:05 via timesofindia.indiatimes.com
  
  Gold price prediction today: Gold and silver prices are expected to trade with a negative bias in the coming days. On the lower side, MCX Gold is expected to gradually move towards the Rs 1,45,000 level, which remains the key downside target. A decisive break below the immediate support zone could accelerate the decline towards this level.
  
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• Why BSE Sensex, Nifty50 are crashing on October 8, 2026? Top reasons

  08-10-2026 08:43 via timesofindia.indiatimes.com
  
  Stock market crash today:At around 12:02 PM, Nifty50 was trading at 22,357.85, down 245 points or 1.08%. BSE Sensex was at 71,947.85, down 691 points or 0.95%. Sustained selling in large-caps by the FIIs have contributed significantly to this trend. With the US 10-year bond yield hovering above 5.3%, FIIs will continue to sell on every rally.
  
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• Russia eyes return to Europe's gas market despite sanctions, Ukraine war: Report

  08-10-2026 08:39 via timesofindia.indiatimes.com
  
  Reports indicate that Russia is looking to reestablish gas supplies via the Nord Stream pipelines by negotiating with US investors, including Jared Kushner and a Russian adviser to Putin. This effort faces formidable challenges due to existing US and EU sanctions. Germany has taken a hard line against restoring gas imports while evaluating its military readiness regarding Russia. Additionally, the complexities surrounding gas ownership could impede any potential agreements.
  
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• Man got leave encashment, but exemption limit was hiked later; ITAT allows full Rs 12.27 lakh relief

  08-10-2026 08:31 via timesofindia.indiatimes.com
  
  The ITAT Chennai bench viewed the increase from Rs 3 lakh to Rs 25 lakh as an enhancement of an existing benefit, rather than the creation of a new exemption. The Tribunal also found the change beneficial and remedial in nature and said it was intended to reduce hardship and bring parity between government and non-government employees.
  
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• Rupee rises 10 paise against US dollar: What is supporting the currency?

  08-10-2026 06:26 via timesofindia.indiatimes.com
  
  The rupee opened at 96.71 against the dollar but improved to 96.65 thanks to intervention from the Reserve Bank of India. External factors, like a robust US dollar and climbing crude oil prices, are still putting pressure on the currency. Additionally, India's forex reserves are diminishing, leading to unease about the rupee's consistency.
  
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• Which are the top stocks to buy or sell on October 8, 2026?

  08-10-2026 05:03 via timesofindia.indiatimes.com
  
  Top stock market recommendations: GAIL, and IndiGo (Interglobe Aviation) are the top stocks to buy today (October 8, 2026), while Hindustan Zinc is a sell call, according to Aakash K Hindocha, Vice President - Research, Nuvama Professional Clients Group/Nuvama Wealth.
  
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• US mortgage rates jump to 7.49%, hit highest level in nearly 3 years

  08-10-2026 05:00 via timesofindia.indiatimes.com
  
  In a notable shift, US mortgage rates have climbed to an alarming 7.49 percent, the peak since November 2023. This increase has further strained the housing market as the election period looms. Mortgage applications saw a 4.2 percent decline last week, reaching their lowest point since February 2025, highlighting ongoing affordability challenges for potential buyers and resulting in fewer refinancing requests amid persistent inflation and economic growth worries.
  
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• Oil remains beyond $100 per barrel as Middle East supply concerns persist

  08-10-2026 04:06 via timesofindia.indiatimes.com
  
  As tensions escalate in the Middle East, particularly around the Strait of Hormuz, oil prices have surged amid fears of potential supply disruptions. Recent assaults on tankers heighten the danger of transporting crude through this vital corridor. Additionally, American crude inventories are dwindling, signaling a tighter market, while diesel and jet fuel stocks remain below average levels, a trend seen for over seven months since the onset of regional conflict.
  
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• Airtel hikes postpaid tariffs, others may follow

  08-10-2026 03:48 via timesofindia.indiatimes.com
  
  Bharti Airtel is set to raise its postpaid tariffs by 3-10% starting Thursday, which affects all users. The new plans will incorporate free international roaming, valued at Rs 2,000 for each SIM once per trip. This change means that postpaid plans will now begin at Rs 499, reflecting increased costs for consumers. Other telecom operators are expected to follow Airtel’s lead in adjusting their pricing soon.
  
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• Brookfield to acquire 8 ESR logistics parks for $450 million

  08-10-2026 03:43 via timesofindia.indiatimes.com
  
  Brookfield is entering the industrial and logistics real estate market by acquiring eight warehousing parks from ESR India. This acquisition amounts to $450 million and expands Brookfield's operations beyond office and hospitality spaces. The warehousing portfolio spans nearly 400 acres across major cities like Mumbai, Pune, and Chennai. Approximately 98% of the space is leased to various logistics and industrial tenants.
  
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• Consolidated account statements to reflect deposits in banks

  08-10-2026 03:38 via timesofindia.indiatimes.com
  
  Individuals will soon benefit from easier access to financial assets in one place through RBI's measures. Interoperable account aggregators will enable customers to access financial information across various banks with consent. Survivors of deceased account holders will find it simpler to discover unclaimed deposits. Additionally, bank deposit information will be included in the monthly consolidated account statement for better financial visibility.
  
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• At 107, National Company Law Tribunal OKs record insolvency cases

  08-10-2026 03:36 via timesofindia.indiatimes.com
  
  The National Company Law Tribunal approved 107 corporate insolvency cases in the last quarter of the fiscal year. These cases had an estimated value of Rs 11,000 crore compared to previous quarters. However, the tribunal now faces significant vacancies among its members and challenges in its operations. With many judges retiring soon, the functioning of the tribunal is further affected.
  
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• Premium spirits sales soar past cheaper liquor: Report

  08-10-2026 03:31 via timesofindia.indiatimes.com
  
  Premium spirits in India are experiencing significant growth with a rise in sales volumes projected until 2025. Cheaper liquor categories show slower growth, which indicates a changing market composition. Indian malt whiskies are among the fastest-growing segments, surpassing Scotch malts in sales volume in 2024. The overall spirits market is expected to expand steadily, driven by rising incomes and evolving consumer preferences.
  
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• Survey: 12% in India report being scammed in last 1 year

  08-10-2026 03:24 via timesofindia.indiatimes.com
  
  According to a recent GSMA survey, 12% of respondents in India reported being scammed recently. Online shopping scams are the most prevalent type among Indian consumers compared to other scams. The survey indicates that messaging apps are frequently used by scammers targeting Indian victims. GSMA highlights the increasing challenge of digital fraud on a global scale. Telecommunications operators in India are proactively working to combat these scams effectively.
  
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• Rupee may be undervalued, markets can be irrational: RBI governor Sanjay Malhotra

  08-10-2026 03:14 via timesofindia.indiatimes.com
  
  RBI governor Sanjay Malhotra indicated that the rupee is undervalued and the central bank will intervene. The rupee closed at 96.78, down 36 paise from the previous day, hitting a five-month low. Malhotra mentioned that global AI stock corrections could attract foreign capital to India. Despite a robust services trade surplus, the current account deficit has widened due to increased merchandise trade deficit.
  
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• Some oligarchs blocking entry of Starlink in India: Elon Musk

  08-10-2026 01:23 via timesofindia.indiatimes.com
  
  Elon Musk has claimed that certain oligarchs are obstructing Starlink's entry into the Indian market. Starlink has already established the necessary infrastructure and is prepared to launch its services. The company aims to provide affordable broadband connectivity to areas lacking internet access. Regulatory approvals are awaited before the commercial rollout can commence in India. Collaboration with local telecom operators has been a key element in Starlink's strategy for success.
  
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• Loans set to get dearer as RBI hikes repo rate after 44 months

  07-10-2026 23:21 via timesofindia.indiatimes.com
  
  The Reserve Bank of India has announced a 25 basis points increase in the repo rate to 5.5%. This decision reflects growing inflation pressures and stronger than anticipated economic growth. The rise in interest rates will lead to higher loan EMIs, impacting consumption during the festive season. Banks are expected to increase fixed deposit rates following this policy change.
  
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• RBI’s big move: Your consolidated account statement will now have details of MFs, stocks & FDs!

  07-10-2026 18:27 via timesofindia.indiatimes.com
  
  For individuals who receive a CAS, this means information on their mutual funds, stocks and, going forward, fixed deposits (FDs) can be viewed together in one place. The change will allow demat account holders to see details of their demat holdings as well as bank deposit accounts together in a single CAS.
  
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