eznews.inIn financial markets, the SENSEX closed at 85,706.67, down by 13.71 points, while the NIFTY fell by 12.60 points to settle at 26,202.95. In commodity trading, crude oil prices rose by 15.00 to reach 5,305.00, while gold increased by 1,108.00, bringing its price to 126,612.00. Silver also saw a significant rise, climbing 6,394.00 to 168,861.00. Meanwhile, Chennai Airport reported the cancellation of 18 flights to Tiruchi, Thoothukudi, and Madurai due to Cyclone Ditwah, with additional cancellations affecting flights to Puducherry from Bengaluru and Hyderabad. The adverse weather conditions have disrupted travel plans, impacting numerous passengers throughout the day. 
Published: Nov 28 2025, 10 pmeznews.inNet tax revenue in India has declined by over 2% during the April-October period of the 2025-26 fiscal year, according to the Controller General of Accounts (CGA). This drop, attributed to reduced direct tax rates and a GST cut, coincided with a significant 32% increase in capital expenditure, pushing the fiscal deficit to over 50% of budget estimates. The fiscal deficit rose nearly 10% to ₹8.3 lakh crore, representing 53% of the budget target. The central government collected approximately ₹18 lakh crore, or 51.5% of the budgeted receipts, while transferring ₹8.35 lakh crore to states. Experts express concern that achieving the budgeted tax target may be challenging, predicting a shortfall of ₹1.2-1.5 lakh crore in gross tax revenues. Despite potential additional expenditures, analysts do not foresee significant fiscal slippage at this stage.
Published: Nov 28 2025, 8 pmeznews.inIndia's GDP growth for the July-September quarter of FY26 has been reported at an impressive 8.2%, with economists projecting a full fiscal year growth of around 7.5% or higher. This surge is attributed to lower GDP deflators and increased economic activity, with the GDP deflator reflecting a minimal inflation rate of 0.5%. Notably, wholesale price inflation (WPI) was just 0.02%, down from 1.8% in the same quarter last year, while consumer price inflation (CPI) fell to 1.7% from 4.2%. Analysts from HDFC Bank and Elara Securities suggest that a low base effect from last year, alongside robust export activity, has contributed to this growth. Projections indicate that India's GDP could exceed $4 trillion by March 2026, with expectations of reaching $5 trillion by March 2029, bolstered by increased credit and GST rationalisation in the coming quarters.
Published: Nov 28 2025, 8 pmeznews.inIndia and Canada are set to initiate discussions next week regarding a proposed free trade agreement (FTA), as announced by Commerce and Industry Minister Piyush Goyal. However, formal negotiations are not expected to commence until February 2026, allowing time for due diligence and stakeholder consultations. This development follows a period of strained relations after Canada suspended FTA talks in 2023 due to allegations involving Indian officials in the killing of Sikh separatist leader Hardeep Singh Nijjar. Relations have improved since Mark Carney became Prime Minister in March 2025, with Carney accepting an invitation from Indian Prime Minister Narendra Modi to visit India in early 2026. Goyal emphasized the importance of focusing on sectors such as critical minerals, clean energy, aerospace, AI, quantum computing, and defense capabilities in the India-Canada partnership. In trade, India's exports to Canada rose by 9.8% in 2024-25, while imports saw a slight decline.
Published: Nov 28 2025, 8 pmeznews.inIndia's economy has shown robust growth, with the Gross Domestic Product (GDP) expanding by 8.2% in the second quarter, surpassing expectations and marking a six-quarter high. Chief Economic Advisor V Anantha Nageswaran expressed optimism that the economy could achieve a growth rate of 7% or higher for the current financial year, following an 8% growth in the first half. The Economic Survey had previously projected a growth range of 6.3-6.8% for FY26. Nageswaran noted that the economy is on track to surpass $4 trillion, up from $3.9 trillion at the end of March. The growth was driven by increased factory production in anticipation of a consumption boost from GST rate cuts, despite a slowdown in agricultural output. The services sector also contributed significantly, achieving double-digit growth, while both rural and urban demand are showing resilience and improvement.
Published: Nov 28 2025, 7 pmeznews.inD K Sunil, Chairman and Managing Director of Hindustan Aeronautics Limited (HAL), has defended the safety of the Tejas light combat aircraft following a tragic crash at the Dubai Airshow that resulted in the death of Wing Commander Namansh Syal. Speaking at ANI's National Security Summit, Sunil described the incident as "unfortunate" but emphasized that the Tejas is "absolutely safe" and boasts the best safety record globally. He highlighted India's achievement in developing a 4.5 generation aircraft with advanced capabilities, asserting that the crash would not affect the aircraft's future. Sunil also noted HAL's commitment to expanding its export capabilities, aligning with the Indian government's goal of establishing a global presence in defense manufacturing. The Dubai incident marks the second crash involving the Tejas since its induction into the Indian Air Force a decade ago, with the previous incident occurring in March 2024, where the pilot ejected safely.
Published: Nov 28 2025, 7 pmeznews.inIndia is set to launch the bidding process for its Rare Earth Permanent Magnets (REPM) Scheme around February 2026, as part of a broader initiative to boost domestic manufacturing of critical minerals and reduce reliance on imports, particularly from China. The government plans to issue a notification for the scheme by December 15, with technical details and the bidding process expected to take an additional 2-3 months. Approximately 15 companies have expressed interest, with a shortlist of five expected within six months. The ₹6,450-crore incentive scheme will be distributed over five years, starting in FY2028-29, promoting end-to-end value-chain development in magnet production. Additionally, the government aims to revive State-owned IREL (India) Ltd, increasing its output from 500 to 1,600-2,000 metric tonnes annually. States are also preparing to support prospective bidders with land and infrastructure as discussions on logistics and regulatory approvals continue.
Published: Nov 28 2025, 7 pmeznews.inIndia's Commerce Secretary Rajesh Agrawal expressed optimism about finalizing a framework trade deal with the US by year-end, contingent on resolving key political issues. Speaking at a FICCI event, Agrawal highlighted that while negotiators are close to agreement, non-negotiable areas for India, particularly regarding agriculture and dairy market access, remain contentious. The US demands clarity on India's oil purchases from Russia, which have decreased but continue despite US sanctions. Agrawal emphasized that a meaningful deal requires addressing both the 25% trade tariff and an additional 25% penalty related to geopolitical factors. He noted that a comprehensive bilateral trade agreement (BTA) would follow the framework deal, involving complex negotiations to eliminate reciprocal tariffs. Ongoing discussions are taking place weekly, with potential for in-person meetings now that US lockdowns have ended.
Published: Nov 28 2025, 7 pmeznews.inIndia's economy has outperformed expectations, growing by 8.2% in the July-September quarter of fiscal year 2025-26, according to the Statistics Ministry. This marks an increase from 7.8% in the previous quarter and a significant rise from 5.6% in the same period last year. The nominal GDP also saw a robust growth of 8.7%. Key sectors contributing to this growth include manufacturing, which expanded by 9.1%, and the tertiary sector, which grew by 9.2%. Notably, the financial, real estate, and professional services sectors surged by 10.2%. However, agriculture and utility services experienced slower growth rates of 3.5% and 4.4%, respectively. Real Private Final Consumption Expenditure (PFCE) rose by 7.9%, up from 6.4% a year earlier. Overall, the first half of FY 2025-26 recorded an 8% growth, compared to 6.1% in the same period last year, amid ongoing global trade uncertainties.
Published: Nov 28 2025, 4 pmeznews.inIndia's fiscal deficit for the period of April to October reached ₹8.25 lakh crore, accounting for 52.6% of the total estimated deficit for the financial year ending March 31, according to government data released on Friday. Net tax receipts fell to ₹12.74 lakh crore, down from ₹13.05 lakh crore during the same period last year, while non-tax revenue increased to ₹4.89 lakh crore, up from ₹4 lakh crore a year earlier. Total government expenditure rose to ₹26.26 lakh crore, compared to ₹24.7 lakh crore in the previous year. Notably, capital expenditure, which focuses on infrastructure development, surged to ₹6.18 trillion, significantly higher than the ₹4.7 lakh crore recorded a year prior. These figures highlight the ongoing fiscal challenges and the government's efforts to boost infrastructure spending amid fluctuating revenue streams.
Published: Nov 28 2025, 4 pm
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