Prime Minister Narendra Modi turns 76 as India records several key economic and infrastructure milestones. Real GDP grew 7.8% in Q1 FY27, while forex reserves reached a record $785.7 billion. Jan Dhan beneficiaries crossed 59.21 crore, the national highway network expanded to 146,572 km and DPIIT-recognised startups surpassed 2.47 lakh.
International luxury brands are reportedly closing stores in China as weaker consumer demand, property market stress and economic uncertainty weigh on luxury spending.
The 8th Central Pay Commission begins a three-day Chandigarh visit to gather views on salary, pension, DA, HRA, allowances and service conditions from employees and pensioners.
Union Finance Minister Nirmala Sitharaman has urged the Indian Tax Research and Advisory Foundation (ITRAF) to make its high-quality commentary on international taxation more visible in policy processes and public discourse. Speaking at ITRAF’s 8th International Tax Conference in Bengaluru, she highlighted the foundation’s decade-long contribution and international engagement.
India and the US have reaffirmed their commitment to strengthening energy security cooperation, with a focus on clean energy, resilient infrastructure and emerging technologies. Union Power Minister Manohar Lal and US Energy Secretary Chris Wright also discussed India’s plans for power infrastructure supporting AI, high-performance computing and data centres, as well as the country’s nuclear expansion roadmap.
The PM Vishwakarma scheme has achieved its target of registering 30 lakh beneficiaries within three years of its launch. More than 24.37 lakh artisans have received basic skill training, while over 18.16 lakh have received toolkits and 6.19 lakh loans worth around Rs 5,316 crore have been sanctioned.
Zerodha CEO Nithin Kamath has described the introduction of Merchant Discount Rate (MDR) on select UPI payments as “probably inevitable” as digital payments expand, while flagging concerns over its impact on stockbrokers. The new framework is set to take effect from October 15, with capital-market UPI transactions attracting a lower MDR of 0.02%, capped at Rs 300
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