Business

Income-tax Rules 2026 Notified: Government Sets Framework for New Tax Regime from April 1 CBDT Releases Detailed Rules for FY 2026-27 with Focus on Transparency and Compliance New Delhi, March 20: The government on Friday notified the Income-tax Rules, 2026, paving the way for the rollout of the new Income-tax Act, 2025, effective April 1, 2026. The move signals a sharper focus on transparency, stricter disclosures, and improved compliance mechanisms across the tax ecosystem.The Central Board of Direct Taxes has published the new rules in the e-Gazette, replacing earlier provisions and establishing a comprehensive framework for the financial year 2026-27.Simplified Procedures with Tighter Reporting Norms The newly notified rules aim...

Flipkart CFO Sriram Venkataraman Steps Down, Ravi Iyer to Oversee Finance Operations Leadership Transition at Flipkart Finance Division New Delhi, March 20 — E-commerce major Flipkart on Friday announced that its Group Chief Financial Officer Sriram Venkataraman will step down from his role, marking a key leadership transition within the company’s finance function.According to an official statement, Venkataraman will continue with the organization for a period of time to ensure continuity and facilitate a smooth transition process.Ravi Iyer Takes Charge of Finance Organization During the interim phase, Ravi Iyer, CFO of Flipkart, will take charge of overseeing the broader finance organization. The move is aimed at maintaining...

India Energy Transition Gains Momentum with Focus on Clean Energy and Electrification PM Modi Highlights India’s Expanding Role in Global Energy Landscape New Delhi, March 20 — Prime Minister Narendra Modi on Friday said that India is shaping a decisive chapter in the global energy landscape, supported by a sustained push towards electrification, clean energy expansion, and domestic manufacturing.The Prime Minister shared an article authored by Minister of State for Power and New and Renewable Energy Shripad Yesso Naik, which outlined the ongoing transformation in India’s energy sector.Policy-Driven Push Towards Self-Reliance In a post on social media platform X, PM Modi emphasized that India’s energy transition is being guided by...

India to Push for Stronger WTO Framework at Cameroon Ministerial Meet Focus on Fair Global Trade Amid Rising Protectionism New Delhi, March 20 – India is set to advocate for strengthening the World Trade Organization (WTO) to reinforce a fair and rules-based multilateral trading system at the upcoming ministerial conference in Cameroon, scheduled from March 24 to 29. The push comes at a time when global trade faces increasing protectionist measures and geopolitical uncertainties.High-Level Indian Delegation to Lead Discussions The Indian delegation will be led by Commerce and Industry Minister Piyush Goyal, accompanied by Commerce Secretary Rajesh Agrawal and other senior officials. India is expected to present its position on key...

India MRO Market to Reach USD 5.7 Billion by 2030 Amid Fleet Expansion Strong Growth Expected in Maintenance, Repair, and Overhaul Services Singapore, March 20 The demand for Maintenance, Repair, and Overhaul (MRO) services in India is projected to grow significantly, reaching USD 5.7 billion by 2030, up from USD 4.4 billion in 2025, reflecting a compound annual growth rate of 5.4 per cent, according to a report released by a Singapore-based consultancy.Engine MRO to Drive Nearly Half of Market Expansion The report highlighted that engine-related MRO services will contribute nearly half of the overall growth in the sector. In addition, airframe maintenance and aircraft modification services are expected to see notable expansion over...

Gold Prices Surge Rs 1,914 to Rs 1.46 Lakh per 10 Grams in Futures Trade Gold Futures Rise on MCX Amid Improved Global Sentiment New Delhi, March 20 Gold prices recorded a sharp increase in futures trading on Friday, climbing by Rs 1,914 to reach Rs 1.46 lakh per 10 grams, tracking firm global cues and shifting geopolitical sentiment.On the Multi Commodity Exchange (MCX), gold contracts for April delivery rose by Rs 1,914, or 1.32 per cent, to settle at Rs 1,46,868 per 10 grams.Easing West Asia Tensions Support Gold Recovery The rebound in gold prices was largely attributed to improving market sentiment as geopolitical tensions in West Asia showed signs of easing.Recent statements from the United States and Israel indicated a...

IEA Recommends Remote Work, Lower Speed Limits to Tackle Global Oil Shock Middle East Disruptions Push Oil Prices Above $100 per Barrel New Delhi, March 20 The International Energy Agency (IEA) has proposed a series of immediate demand-side measures such as remote working, reduced speed limits, and lower air travel to counter the impact of a historic global oil supply disruption triggered by tensions in the Middle East.Oil prices have surged past $100 per barrel following attacks by the United States and Israel on Iran, along with Tehran’s retaliatory response. The situation has severely disrupted shipping through the Strait of Hormuz, a critical global energy transit route.Strait of Hormuz Disruption Hits Global and Indian Energy...

India Battery Energy Storage Sector Surges with 92 GWh Pipeline, Set for Massive Expansion by 2033 India Energy Storage Market Records Strong Growth Momentum New Delhi, March 20: India’s stationary energy storage sector is witnessing accelerated growth, with Battery Energy Storage Systems (BESS) projects in the pipeline reaching a record 92 GWh, according to a report released on Friday.The report by the India Energy Storage Alliance (IESA) highlights a significant expansion phase for the sector, supported by policy reforms, rising demand, and increasing investments.Installed BESS Capacity Projected to Reach 346 GWh by 2033 India’s cumulative installed BESS capacity, currently below 1 GWh, is projected to surge to 346 GWh by 2033...

India Accelerates Logistics Reforms Amid Global Supply Chain Disruptions Government Targets Cost Efficiency as Logistics Expenses Reach 7.97% of GDP New Delhi, March 20 Amid ongoing disruptions in global supply chains due to the conflict in West Asia, the government has intensified its focus on strengthening India’s logistics ecosystem and reducing associated costs, which are currently estimated at 7.97 percent of GDP or approximately Rs 24.01 lakh crore.Structural Transformation Driven by Policy and Infrastructure Push Officials stated that India’s logistics sector is undergoing a phase of structural transformation, supported by coordinated policy reforms, institutional realignment, digital platforms, and large-scale infrastructure...

Luxor Writing Instruments Partners with Crayola to Launch Co-Branded Products in India Luxor Crayola Products to Be Manufactured Locally New Delhi, March 20 — Luxor Writing Instruments Pvt Ltd on Friday announced a long-term partnership with Crayola LLC, marking the entry of the American brand into the Indian market.Under the agreement, co-branded products under the name "Luxor Crayola" will be manufactured in India, the company said in an official statement.First-Ever Sub-Branding Move by Crayola The collaboration represents a significant milestone for Crayola, as it is the first time the company has adopted a sub-branding approach. According to the statement, this move reflects strategic alignment between the two companies and...

Pakistan Faces Rising Energy Risks as Oil Prices Surge Amid Middle East Tensions Strait of Hormuz Concerns Intensify Pressure on Import-Dependent Economy New Delhi, March 20 – A sharp rise in global oil prices, driven by escalating geopolitical tensions in the Middle East, has heightened concerns over energy security and economic stability in Pakistan, according to a report.The situation has brought renewed focus on the Strait of Hormuz, a critical maritime route that facilitates nearly 20 percent of global seaborne oil trade. Ongoing conflict in the region has raised questions about the safety and continuity of shipments passing through this strategic chokepoint.Heavy Dependence on Gulf Oil Increases Vulnerability Pakistan remains...

Gulf Energy Strikes Disrupt Global Supply, Boost Upstream Firms While Downstream Faces Pressure Energy Price Surge Shifts Sector Dynamics New Delhi, March 20 – Recent strikes at Gulf energy facilities have triggered sharp disruptions in global oil and gas flows, driving prices higher and reshaping sectoral gains and losses, according to a report released on Friday.Systematix Institutional Equities highlighted that upstream oil producers and oilfield service companies are emerging as the biggest beneficiaries of the current situation. In contrast, downstream companies and end-user industries are likely to face pressure due to elevated input costs and supply constraints.Supply Disruptions Raise Long-Term Concerns The report warned...

Rupee Hits Fresh Intra-Day Low of 93.49 Against US Dollar Amid FII Outflows and West Asia Tensions Local Currency Breaches 93-Mark for the First Time Mumbai, March 20 The Indian rupee fell sharply by 60 paise on Friday to touch a fresh intra-day low of 93.49 against the US dollar, pressured by continued strength in the greenback and sustained outflows from Foreign Institutional Investors (FIIs).At the interbank foreign exchange market, the rupee opened at 92.92 and quickly weakened past the 93 level for the first time. The currency continued its downward trajectory through the session, marking a significant drop from its previous close.FII Selling and Global Uncertainty Weigh on Sentiment Persistent selling by foreign institutional...

Government Invites Bids for Rare Earth Magnet Manufacturing Under Rs 7,280 Crore Scheme RFP Issued to Build 6,000 MTPA Domestic Magnet Production Capacity New Delhi, March 20 – The government has invited bids for setting up manufacturing facilities with a total capacity of 6,000 metric tonnes per annum under the Rs 7,280 crore Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet.The Ministry of Heavy Industries has issued a request for proposal to select beneficiaries for establishing integrated Sintered NdFeB Rare Earth Permanent Magnet manufacturing units across the country.Key Dates and Transparent Bidding Process Announced According to the notification, the pre-bid conference is scheduled for April 7, while...

Gold and Silver Prices Surge Up to 3% on MCX Amid Middle East Developments Precious Metals Rebound in Domestic Markets Mumbai, March 20 – Gold and silver prices recorded a strong rebound on Friday, rising up to 3 percent on the Multi Commodity Exchange (MCX), supported by developments linked to easing tensions in the Middle East.Gold futures for April 2 delivery climbed to an intra-day high of Rs 1,48,302 per 10 grams around 10:45 am, marking a gain of 2.30 percent or Rs 3,348. During the session, the metal slipped to a low of Rs 1,47,401. At the time of reporting, gold was trading at Rs 1,47,534, up Rs 2,580 or 1.78 percent.Silver Prices Rally Sharply Silver futures for May 5 delivery witnessed sharper gains, rising as much as 3.68...

DGCA Advises Airlines to Avoid Key West Asia Airspaces Amid Rising Conflict Risks New Delhi, March 20 (Friday): India’s aviation regulator, the Directorate General of Civil Aviation (DGCA), has issued a directive to airlines to avoid operating in several West Asian airspaces due to escalating tensions linked to the ongoing US-Israel-Iran conflict. The move is aimed at strengthening safety risk assessments and ensuring preparedness for potential disruptions.Airspaces Restricted Across Conflict-Prone Regions The DGCA has instructed flight operators to refrain from flying over multiple countries in the region, including Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Qatar, and the United Arab Emirates. The advisory comes in...

Indian Rupee Hits Record Low of 93.12 Against US Dollar Amid West Asia Tensions Rupee Weakens Sharply as Global Risks Intensify Mumbai, March 20: The Indian rupee plunged to a record low on Friday, falling to 93.12 against the US dollar, as escalating conflict in West Asia disrupted global supply chains and heightened risk aversion in financial markets.The domestic currency declined by 0.55 percent to breach its previous low of 92.63 recorded earlier this week. Since the onset of tensions in the region, the rupee has depreciated by nearly 2 percent, reflecting sustained pressure from external factors.USD/INR Trend Signals Continued Pressure Market indicators suggest that the rupee remains under strain, with the USD/INR pair trading...

Oil Prices Fall Over 3% as US Signals Possible Easing of Iranian Crude Sanctions Mumbai, March 20: Global crude oil prices declined sharply on Friday after the United States indicated a potential easing of sanctions on Iranian oil, raising expectations of increased supply in the global market.Brent crude futures dropped as much as 3.39 percent to touch an intraday low of $104.96 per barrel. Similarly, US West Texas Intermediate crude fell 3.22 percent to a day-low of $92.47 per barrel.US संकेत on Iranian Oil Supply Weighs on Crude Markets The decline followed remarks by US Treasury Secretary Scott Besant, who suggested that Washington may relax restrictions on Iranian crude already in transit. The move is aimed at stabilizing global...

Sensex and Nifty Rebound Sharply in Early Trade as Crude Oil Prices Ease Mumbai, March 20: Domestic benchmark indices staged a strong recovery in early trading on Friday, bouncing back after a steep decline in the previous session. The rebound was supported by a decline in global crude oil prices, which improved overall market sentiment.The BSE Sensex surged 976.77 points to reach 75,184.01, while the NSE Nifty jumped 301.7 points to 23,303.85 during early trade.Banking and Metal Stocks Lead Gains Among the 30-share Sensex pack, major gainers included Tata Steel, State Bank of India, Tech Mahindra, Larsen & Toubro, Power Grid, and NTPC, driving the market higher.HDFC Bank emerged as the only laggard in early trading.Crude Oil...

Stock Market Today: Sensex and Nifty Surge Over 1% in Early Trade Amid Global Relief Signals Mumbai, March 20: Domestic benchmark indices opened on a strong note on Friday, with both the Sensex and Nifty rising over 1 per cent in early trading, supported by optimism around easing geopolitical tensions in West Asia.The BSE Sensex opened at 74,559, gaining 352 points or 0.47 per cent, while the NSE Nifty began the session at 23,110, up 108 points or 0.47 per cent, as per exchange data.Strong Early Momentum Across Benchmarks In the initial hours of trade, the rally gathered pace, with the Sensex jumping as much as 891 points or 1.20 per cent, while the Nifty climbed 279.7 points or 1.21 per cent to 23,281.85. The upward movement was...