UPS Financial News

NEW DELHI: The Centre is considering extending the 5% concessional basic customs duty (BCD) on lithium-ion cells used in battery packs for electric vehicles (EVs) for another two years in the upcoming Union budget, according to two people familiar with the matter, as domestic manufacturing has failed to gain momentum.“The proposal from the country’s automobile industry came up during consultations with the ministry of finance,” said one of the two people cited above.“The recommendation is being considered by the Union ministry of finance,” said the second person. Both persons quoted earlier did not want to be identified.The battery accounts for up to half of an EV’s price, and India’s lithium-ion cell imports have surged to $3 billion in FY25 from $1.8 billion in FY22, according to data from the commerce ministry's trade portal.India currently only assembles imported batteries, and demand for these cells is expected to quadruple from the existing 15 gigawatt-hours (GWh) to 60-65 GWh by FY30.

Russian crude suppliers are now offering Indian refiners a higher discount of up to $8 a barrel, doubling since October after sanctions were announced on Rosneft and Lukoil, according to three people aware of the development. That could increase oil shipments from the non-sanctioned oil suppliers from the Eurasian nation, experts said.The discounts on Urals crude hovered around $2-4 a barrel after the 23 October US decision to impose sanctions on the two largest Russian crude suppliers, according to data from Finnish think tank Centre for Research on Energy and Clean Air (CREA).

₹93,929 crore. This surpassed NSE stock futures contracts' ADT of ₹72,515 crore, showed data from MCX and NSE.Interestingly, silver outshone gold at ₹41,370 crore ADT, contributing 44% to the overall MCX ADT, while gold at ₹32,426 crore accounted for 35% of the overall ADT.Even on a standalone basis, bullion futures ADT at ₹73,796 crore exceeded that of NSE stock futures turnover in December.A shortage in silver supply—expected at 800 million ounces against the demand of an estimated 1-1.2 billion ounces in 2026—and haven demand for gold amid US tariff-induced global economic uncertainty and geopolitical tensions drove the active MCX gold and silver futures' average price up 47% each year-on-year in the fiscal year through December (April-December, FY26).The average price of gold active futures jumped to ₹1.08 lakh per 10 gramme while that of silver active futures surged to ₹1.29 lakh per kilogramme, according to Bloomberg.

planning to soften its stance on e-commerce rules for exports, as it considers allowing foreign direct investment (FDI) in inventory-based e-commerce models, but only for export purposes. India has about 165,000 post offices, including over 149,000 in rural areas and around 15,000 in urban centres.Currently, India’s FDI rules do not allow foreign-funded e-commerce companies to operate an inventory-based model, under which they own the goods sold on their platforms.

₹638 crore penalty order from the office of the additional commissioner, Central Goods and Services Tax, Ahmedabad. The company said it does not agree with the order and will pursue legal remedies.The disclosure came close on the heels of developments around its long-running adjusted gross revenue (AGR) dues, which have kept the stock volatile.The Centre has reportedly approved a relief package that freezes Vodafone Idea’s pre-FY18 AGR dues, estimated at ₹87,700 crore, and grants a five-year, interest-free moratorium, pushing payments out to FY32-41.

Supreme Court ends up striking down President Trump’s tariffs: “I think that possibility is being overlooked a bit. It could reduce inflationary pressures, allow more rate cuts and accelerate the economy.”Tech bulls point out a key difference between now and the dot-com bubble: Today’s most-valuable companies, such as Nvidia, Microsoft and Alphabet, are some of the most profitable in history.

The government is discussing an extension or a completely new production-linked incentives plan for assembling mobile phones in India as the existing ₹40,995 crore scheme is set to expire in March, according to a top government official.A final call on the exact contours of the new or an extended mobile phone PLI scheme has not been taken, and the quantum of incentives has not been decided, S Krishnan, secretary at the ministry of electronics and IT (Meity), said in an interview.“There’s an analysis which shows that some degree of disability continues in the mobile phone electronics industry. While the situation has improved significantly, there still are areas that require improvement and support.

The growing popularity of obesity drugs is expected to spur Indian pharma companies to sign licensing partnerships and distribution deals as they eye the lucrative segment. Indian companies started signing big-ticket deals with innovators for novel GLP-1s, as well as generic versions, last year.

Forecasts aren’t prophecy—they offer a glimpse into market sentiment. Our New Year special asks experts not for perfect numbers, but how they interpret the economy and the world around them—and how that shapes their money moves. The message is clear: discipline beats prediction. Stay invested. Stay diversified. Here’s how that thinking is shaping their approach to 2026, and what’s likely to keep their sectors busy.My plan stays boring yet effective: keep SIPs going in diversified equity/hybrids, maintain a proper cash buffer in liquid/ultra-short debt, and rebalance instead of reacting.

Mint.Agricultural experts said that the move could help ramp up foodgrain production, including pulses and other crops, by improving seed quality and farm-level productivity.“Increasing productivity is critical if India has to meet future food demand without relying heavily on imports. Better seeds backed by strong research can help raise yields of pulses and other crops, stabilize supplies, and protect farmers from climate and market shocks,” said Bimal Kothari, chairman of the India Pulses and Grains Association (IPGA).All the cotton varieties are still Bt-II hybrids, showing policy continuity without any new biotech traits, the order notified on Thursday said.

Bengaluru: The nationwide strike called by gig workers against food delivery platforms such as Swiggy and Zomato on New Year’s Eve was largely ineffective as riders didn’t want to lose the chance to earn additional income after companies offered financial incentives for a day.Zomato set peak-hour rates at around ₹120 to ₹150 per order during the early evening to midnight on New Year’s Eve, according to its letter to delivery partners reviewed by Mint. Depending on order volumes and availability, riders had the potential to earn around ₹3,000 throughout the day.

Even as Vodafone Idea has received a breather on most of its adjusted gross revenue dues, a near-term obligation remains. The telecom operator will need to pay ₹700–800 crore in AGR dues related to FY18 and FY19 over six years, including the current financial year, according to two officials familiar with the matter.This amount is outside the ₹87,695 crore in AGR dues as of 31 December 2025, which the government has frozen, and Vodafone Idea will pay it between FY32 and FY41.The reassessment process to arrive at Vodafone Idea’s final AGR liability is expected to take four to five months, one of the officials said.“In the Supreme Court’s 1 September 2020 order, the table of AGR calculations also included figures for FY18 and FY19.

release of a highly competitive chatbot caused a sensation in early 2025. Dubbed the “DeepSeek moment,” it immediately prompted analogies to the Soviet Union’s launch of Sputnik in 1957. But do such spectacles really mean that China is closing the gap with the West?In considering that question, it is important to bear in mind that no industrial revolution has ever emerged outside advanced democratic capitalism.

Fed independence by finding a way to distinguish it from other agencies over which the president has asserted a right to remove “principal” officers at will. Regardless of the outcome of litigation over the attempt to remove Fed Governor Lisa Cook, though, the central bank’s independence already has been significantly impaired.For example, Trump has asserted that all interpretations of law and review of agency expenditures, including by the Fed, fall within the purview of the White House and Justice Department.

tax-saving investments.Mid-March marks the final advance tax payment deadline, and by 31 March, you want to wrap up documentation and filings for the previous financial year. Completing these steps on time can help you avoid penalties and make the most of deductions available under Indian tax laws.For investment discipline, the first week of April (between 1 and 5 April) is the best time to make a lump-sum investment in Public Provident Fund (PPF), so your contribution earns interest for the full year.

The Indian stock market is no longer a place where bargains are easily available. Thanks to the rally over the past two years, all stocks, including midcaps, have moved up.Riding a mix of earnings growth, policy stability and steady domestic inflows, most now enjoy valuations way above their historical medians.In such an environment, the question for investors is no longer where growth exists; it is how to capitalise on it.

Mint in an interview.From JSW Paints acquiring AkzoNobel to Torrent Group acquiring J.B. Chemicals & Pharmaceuticals to Bajaj Finance buying out Allianz, growth-hungry Indian business groups are now making substantive M&A moves, he said.“We have seen that capital from global investors is headed towards India, and domestic capital continues to flow unabated.

Dear reader, as 2025, a year of global tumult and volatility, rolls by, Mint's reporters and columnists look around the corner on what is coming in 2026—to help you know what to expect and prepare for it. Tell us what you think at [email protected] DELHI: India’s energy transition has come a long way, with 50% of the country’s electricity generation capacity already coming from non-fossil sources led by solar and wind.

Tata Consultancy Services Ltd. is exploring gig-like hiring arrangements for hard-to-retain specialists in certain roles, signalling a shift as India’s $283 billion offshoring sector grapples with a talent crunch amid uncertainty caused by artificial intelligence.India’s largest information technology (IT) services company will consider allowing data architects and data scientists to log in for a few hours with the option to work elsewhere, according to a senior executive at the company, who didn’t want to be identified as the information is not yet public.“For instance, data architects do not need to work for 8 hours; their work often gets done in four hours, and then why should they not be allowed to work somewhere else? We will look at these sorts of gig options for skilled employees, and that will be the future of the workplace,” the executive said.The contours of this plan are still being finalised, and the company will have to factor in data privacy and client confidentiality concerns, the executive said.India’s software services providers mostly hire full-time employees.

DPIIT) has taken note of the recommendations of a high-level Niti Aayog committee that suggested a softer stance on restrictions on investments from China,” one of the two people cited above said on the condition of anonymity. “Some rounds of inter-ministerial consultations have already been held in this regard, with a recent such consultation taking place in December,” the person said.The shift in thinking marks an emphasis on effective control rather than mere equity holding, as India seeks to balance the need for capital inflows with security considerations.

Mint. They argue that the Centre’s recent record of meeting deficit targets provides enough credibility and momentum to navigate the next phase of consolidation.“The discipline built over the past few years gives us room to navigate the current volatility without losing sight of the medium-term path,” said one of the persons mentioned above, who spoke under the condition of anonymity.According to this official, the Centre expects to end FY26 with a fiscal deficit of about 4.3% of GDP, slightly better than the 4.4% target, lifted by stronger dividends from state-run financial institutions and banks, a hefty transfer from the Reserve Bank of India (RBI), and buoyant non-tax revenues.The second official acknowledged near-term turbulence but maintained it does not derail the trajectory.“If revenues remain broadly stable and we keep our capital spending disciplined and purposeful, the medium-term trajectory stays intact,” the official above said.Recent reports indicate the Centre will likely limit fiscal deficit to 4.1-4.2% in FY27, keeping it aligned with the glide path to the FY31 debt goal.The central government’s debt stood at 57.1% of nominal GDP in FY25, according to FY26 union budget documents, which proposed a shift to debt-to-GDP targeting.