Business

west-asia-conflict-india-economy

Wed May 27 16:27:52 IST 2026

lic-equity-dilution-plans

Wed May 27 15:50:28 IST 2026

guest-opinion-gen-z-renting-india

Wed May 27 14:59:09 IST 2026

why-indigo-and-air-india-decided-to-operate-fewer-domestic-flights-from-june-1

Wed May 27 14:29:33 IST 2026

hdfc-bank-governance-crisis-express-investigation

Wed May 27 12:49:21 IST 2026

byjus-founder-jail-singapore

Wed May 27 10:49:10 IST 2026

vedanta-limited-in-the-top-gainers-today-how-will-the-demerger-impact-the-shareholders

Tue May 26 17:38:25 IST 2026

indian-markets-volatile-sensex-nifty

Tue May 26 11:32:20 IST 2026

india-canada-fta-goyal-visit

Tue May 26 11:58:27 IST 2026

india-cannot-afford-fear-mongering-nirmala-sitharaman-backs-modis-austerity-appeal

Mon May 25 19:29:09 IST 2026

Amid the ongoing West Asia crisis, Finance Minister Nirmala Sitharaman defended Prime Minister Narendra Modi's austerity call, stressing the need to focus on the "3Fs"—fuel, fertiliser and forex.

Speaking at a SIDBI (Small Industries Development Bank of India) event in Mumbai, the finance minister slammed critics who have built a cynical and pessimistic narrative after the PM's appeal and underlined that India cannot afford fearmongering at this stage.

The crisis is borne by external events, and the domestic economy continues to be positive and resilient, the finance minister said.

Naysayers have created a "cynical and pessimistic narrative" after the prime minister's appeal for austerity, she said, stressing that such observations are factually incorrect.

"It (the narrative) is wrong because it is fear-mongering. India cannot afford fear-mongering. We need to give confidence to the people with our words and with our actions," she said.

Sitharaman highlighted that the issue of Rs 8.1 lakh crore locked in delayed payments for MSMEs is impacting their working capital and growth, and urged public sector undertakings not to exceed the 45-day window to make payments to them.

Meanwhile, Sitharaman also asked lenders to relook at the design of loans to tailor-make products, where repayments happen when an entity gets its revenues.

"My message to Sidbi and every banker here is that standard products cannot serve non-standard businesses," she said, citing examples of how the income generations of businesses vary across multiple activities.

At present, loans are typically given on a monthly repayment basis, which may be weekly as well in the case of microfinance.

"A farmer-linked enterprise does not earn every month. A resort does not earn evenly through the year. A garment exporter waits for payment after shipment. A small auto-comp supplier waits for invoice clearance. A woman entrepreneur may have regular transactions yet no property in her name," Sitharaman said.

"Why should all of them be given the same repayment structure?" the finance minister questioned, asking Sidbi to take the lead to ensure that credit is designed around the business cycle of an enterprise.

Sitharaman also asked Sidbi to expand into a market maker and a risk-sharing partner for small enterprises, and not just be a lender for such companies.

She also urged the body to take care of the debt capital requirements of startups.

There can be a far-reaching economic impact of supporting MSMEs, she said, adding that 32 crore Indians are employed in MSMEs.

"If we get the MSME credit right, we get the Middle Class right. If we get the Middle Class right, we get Viksit Bharat right. It is that direct. Don't think that we can do banking the way we want and think all of them are disconnected," she said.

opinion-the-geopolitical-premium-on-every-barrel

Mon May 25 18:06:04 IST 2026

US Secretary of State Marco Rubio used his recent Delhi visit to press a familiar case. The United States wants to sell India more crude oil and liquefied natural gas, and it wants to do so on long horizons. The pitch arrives at a moment of real strain. India's merchandise trade deficit, on commerce ministry data, stood at $28.38 billion in April, swollen by an oil bill that has climbed since Iran shut the Strait of Hormuz in late February. Brent crude touched $138 a barrel that month before settling near $104, and the rupee has weakened to record territory, close to 96.9 to the dollar, as every imported barrel now costs more in domestic currency. For a country that buys roughly seven barrels in ten from abroad, the external account is where the crude shock is felt most sharply.

India has already responded by reworking where its oil comes from. In March, "Russian crude reached a record monthly 2.25 million barrels a day, according to industry tracking data, about half of total purchases, while Middle Eastern supply fell 61 per cent to roughly a quarter of the basket. That shift has kept dollars at home, but it has not been clean. For close to two years, payments for Russian oil left large rupee balances stranded in Indian banks because Moscow struggled to spend them, and refiners had to engineer workarounds before the problem eased. The lesson is worth carrying into any conversation with Washington. Cheap crude and smooth settlement rarely come in the same package, and a supplier that solves one problem can quietly create another.

Washington's frustration is easier to read against the trade ledger. The American goods deficit with India reached $58.2 billion in 2025, on US Trade Representative figures, more than a quarter higher than the year before, and buying American energy is one of the few quick ways to narrow it while building goodwill toward ‘Mission 500’, the $500 billion bilateral trade target both governments have set for 2030. The difficulty is that the offer runs into engineering. American crude is mostly light and sweet, while Indian refineries are built around heavier, sourer grades and tuned for high diesel output. Feeding them lighter crude lowers diesel yields, tightens that fuel and pushes its price up, and because diesel moves freight, the cost travels into food and goods across the economy. A shipping route of about 45 days from the US Gulf, against under a week from the Persian Gulf, adds a further premium that no amount of diplomatic warmth can shorten.

India is not bargaining from a position of comfort. Its dedicated strategic reserves cover only about 9.5 days of demand at full capacity, and nearer five at current filling, while total cover, including commercial stocks, sits around 60 days against a 74-day ceiling. Long-term contracts for the wrong grade of crude do nothing for either figure. A more useful diversification would lean on Latin American and Canadian heavy sour grades, which match Indian refineries and avoid the Hormuz chokepoint, and on wider rupee settlement with Gulf partners, whose large two-way trade with India lets those rupees be recycled rather than stranded. Neither route is free, since longer voyages thin the discount and Chinese buyers compete for the same cargoes. That is the spirit in which Rubio's offer should be weighed. It is a commercially priced product carrying a geopolitical premium, and pricing that premium honestly means counting the grade mismatch, the freight penalty and the lost diesel yield. New Delhi's task is to buy as much American energy as the economy genuinely needs, and no more than that to satisfy the relationship.

(Abishek Gupta and Monika Jain are researcher and associate professor of economics respectively at Birla Institute of Management Technology)

(The opinions expressed in this article are those of the author and do not purport to reflect the opinions or views of THE WEEK.)

april-salary-payslip-guide-new-wage-code

Mon May 25 15:01:12 IST 2026

For many employees, April salaries arrive with a sense of anticipation. It marks the beginning of a new financial year, when most companies roll out annual appraisals and reflect revised salaries in April payouts.

However, this year, it is not just about whether the hike meets expectations. The New Wage Code and income tax reforms could also significantly influence take-home pay, tax deductions, and overall salary structures.

Employers are restructuring salary components, revising exemptions, and recalculating tax deductions in line with the evolving regulations.

In many cases, employees may notice that even with a higher CTC, the monthly take-home salary does not rise as much as expected.

One of the biggest reasons for this is the New Wage Code’s requirements for companies to restructure the salary structure so that basic pay and dearness allowance together account for at least 50 per cent of total wages.

While this strengthens long-term benefits such as provident fund contributions and gratuity payouts, it can also increase monthly PF deductions, resulting in stronger retirement savings but lower in-hand salary each month.

The New Wage Code is also prompting organisations to reassess the balance between fixed salary, allowances, and reimbursements. As companies revise compensation structures to remain compliant, many employees may notice changes in how allowances are distributed within their salary breakup. At the same time, HRA exemption benefits, earlier limited to metro cities, have been extended to cities such as Pune, Ahmedabad, Bengaluru, and Hyderabad under the old tax regime. Eligible employees in these cities can now claim up to 50 per cent of their salary as HRA exemption. As a result, employees paying high rent should reassess whether the old tax regime offers better tax savings.

April is also when employers reset tax deduction calculations for the new financial year. At the same time, ongoing income tax reforms are influencing how companies manage payroll declarations and TDS calculations. Many employers now automatically place employees under the new tax regime unless an alternative is selected. While the new regime offers lower tax rates, it removes several exemptions and deductions that salaried professionals have traditionally relied on.

For employees with limited investments or income less than ₹12 lakh, the new regime may work well. But for those paying significant rent, repaying home loans, or claiming deductions under sections like 80C and medical insurance, the old regime may still offer better overall savings.

Beyond the major salary components, the New Wage Code and revised tax provisions are also prompting companies to revisit reimbursement structures and allowance limits. Education allowance, hostel allowance, meal benefits, fuel reimbursements, driver allowance, and corporate gift benefits are becoming more flexible in some organisations. However, the actual benefit still depends on company policy, tax regime selection, and proper documentation under income tax provisions.

While revised salary structures may improve retirement benefits, they can also reduce monthly in-hand pay. Choosing the right tax regime is equally important, as it directly impacts TDS and overall annual tax liability.

Before finalising salary declarations or selecting a tax regime, employees should review their revised salary structure, compare the old and new tax regimes, and assess eligible exemptions and deductions to make informed financial decisions. A well-informed decision today can significantly improve both monthly cash flow and long-term financial security.

The author is the chief of HR operations, staffing and payroll at Core Integra.

Opinions expressed in this article are those of the author and do not purport to reflect the opinions or views of THE WEEK.

sensex-nifty-rally-crude-oil-below-100

Mon May 25 10:48:38 IST 2026

Indian stock markets surged to their best levels in weeks on Monday morning, powered by a sharp fall in global crude oil prices below $100 a barrel.

The BSE Sensex hit an intraday high of 76,334.77, gaining over 919 points from Friday's close of 75,415.35. The NSE Nifty 50 climbed to an intraday high of 23,989.10, up roughly 270 points from its previous close of 23,719.30.

All 16 major sectoral indices logged gains. Brent crude fell 5.6 per cent to trade at $97.76 a barrel, its first dip below $100 in more than two weeks, after US President Donald Trump said on Saturday that Washington and Tehran had "largely negotiated" a memorandum of understanding on a peace deal that would reopen the Strait of Hormuz. Despite Trump’s comments on Sunday, the markets seem to have latched onto the overall optimism.

Oil company stocks soared, with BPCL, HPCL, and Indian Oil each gaining well over between 4 per cent. The state-owned fuel retailers had also raised diesel and petrol prices for the fourth time this month to recover accumulated losses.

On the Sensex, Mahindra and Mahindra, Bajaj Finance, Bajaj Finserv, Larsen and Toubro, and InterGlobe Aviation (IndiGo) featured among the top gainers. TCS and Sun Pharma were among the laggards.

Rupee recovery

The rupee, too, joined the rally. The Indian currency appreciated 40 paise to 95.20 against the US dollar in early trade on optimism around the US-Iran peace process, after having already gained 75 paise on Friday to close at 95.60.

Foreign Institutional Investors, however, remained net sellers, having offloaded equities worth ₹4,440.47 crore on Friday, according to exchange data.

Asian markets were broadly higher, with Japan's Nikkei 225 and Shanghai's SSE Composite trading in positive territory. South Korean and Hong Kong markets were closed for public holidays.

fourth-fuel-price-hike-in-two-weeks-petrol-and-diesel-rates-rise-again-amid-growing-inflation-concerns

Mon May 25 08:15:30 IST 2026

Petrol and diesel prices were increased again on Monday, marking the fourth hike in less than two weeks, as global crude oil prices continue to remain volatile amid the ongoing conflict in West Asia.

State-run oil marketing companies raised fuel prices by up to Rs 2.61-2.71 per litre across major cities, stoking concerns over inflationary pressures and higher transportation costs across the economy.

On May 15, oil companies had increased fuel prices by ₹3 per litre — the first major revision in nearly four years. This was followed by a 90 paise per litre increase on May 19 and 87-91 paise increase on May 23.

Following the latest hike, petrol prices in Delhi rose to Rs 102.12 from Rs 99.51 previously, while diesel rates were increased to Rs 95.20 per litre from Rs 92.49.

In Mumbai, petrol at PSU pumps now costs Rs 111.21 per litre and diesel Rs 97.83, while prices in Kolkata rose to Rs 113.51 and Rs 99.82, respectively. In Chennai, petrol is priced at Rs 107.77 and diesel at Rs 99.55.

The conflict in West Asia has driven international crude oil prices sharply higher, with prices rising by more than 50 per cent in recent months. India’s crude oil import basket averaged around USD 69 per barrel in February, before the conflict began. In the months that followed, prices surged to an average of USD 113–114 per barrel.

Despite the steep rise in global crude prices, state-owned oil companies had kept retail fuel prices unchanged for nearly 11 weeks. However, reports suggest the companies eventually passed on part of the increased burden to consumers after prolonged losses made continued price stability financially unsustainable.

Bharat Petroleum (BPCL) had said last week that it continued to incur a revenue loss of 25 to 30 rupees per litre on diesel and 10 to 14 rupees per litre on petrol despite the higher prices.

BPCL, Indian Oil Corp and Hindustan Petroleum together control more than 90 per cent of a network of 103,000 fuel stations.

Former Marketing Director, BPCL, Sukhmal Kumar Jain said public sector oil companies had been under severe financial pressure due to rising crude prices and a weakening rupee.

"The public sector oil companies are still in heavy under-recoveries," Jain told ANI, adding that crude prices had risen from around USD 65-70 per barrel to USD 110-115 per barrel during the conflict period.

ONGC Director (Exploration) Sushma Rawat said crude oil prices have remained highly volatile amid uncertainty over the conflict.

"The government has given relief to the people for 76 days, during which the price has not increased. The price has increased, because the OMCs were taking a hit of almost Rs 1,000 crore a day. How long do you sustain that?" she asked.

fuel-rates-soar-nationwide-more-hikes-explained

Mon May 25 11:50:04 IST 2026

Ten days ago, on May 15, when India saw its first fuel hike in 49 months, we postulated that it was just the beginning. You can read that article here. Fast forward to now, and filling fuel in your vehicle just got way more expensive!

State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL), which together control 90 per cent of India's fuel market, raised petrol prices by ₹2.61 per litre and diesel by ₹2.71 per litre on Monday, the fourth such increase in less than two weeks and the clearest signal yet that the cost of the Iran war is being passed directly to Indian consumers.

Petrol in Delhi now costs ₹102.12 per litre, the first time in four years it has crossed the ₹100 mark in the capital, while diesel stands at ₹95.20.

In Mumbai, petrol costs ₹111.21 a litre and diesel ₹97.83. Kolkata is at ₹113.51 and ₹99.82, and Chennai at ₹107.77 and ₹99.55.

The four rounds of hikes since the ides of May have pushed the cumulative price increase to roughly ₹7.5 per litre each for petrol and diesel, the steepest run-up since fuel prices were frozen in April 2022. The immediate trigger is the Strait of Hormuz disruption. Brent crude surged from about $72.87 a barrel on 27 February to nearly $120 in March after US-Israeli strikes on Iran, before easing to around $97 on Monday's peace-deal optimism.

India, the world's third-largest oil importer, sources over 85 per cent of its crude needs from abroad, making it acutely exposed to any choke-point disruption.

Fuel prices had been held artificially low for the first two-and-a-half months of the conflict, with state retailers absorbing mounting under-recoveries.

Monday's revision came 10 days after the BJP won three of five state elections, including West Bengal, with analysts arguing that politics had delayed an unavoidable correction.

But are we done with the hikes? More pain could be on the way. Industry executives and energy analysts say state retailers have yet to fully recover past under-recoveries accumulated during the price freeze, in addition to current revenue losses. We pointed out earlier how analysts at Kotak Institutional Equities estimated the required correction for fuel at ₹25–28 per litre to recover losses.

IOC data for May 1–22 showed retail diesel sales had risen 18 per cent from a year earlier and petrol by 14 per cent. So, despite the hikes, demand increased. Private retailers also hiked fuel prices in tandem: Nayara Energy matched every PSU hike, while Shell had already raised petrol by ₹7.41 a litre and diesel by as much as ₹25 per litre from April 1.

panattoni-hyderabad-manufacturing-hub

Mon May 25 11:18:49 IST 2026

One of the world's largest industrial real estate developers, Panattoni, announced a ₹150 crore advanced manufacturing hub in Hyderabad. This is its first Build-to-Own (BTO) facility in the country, which, according to the developer, will be designed to serve the exacting demands of aerospace and high-complexity manufacturing companies.

The facility will span 152,000 sq ft across a 10-acre plot, with construction scheduled to break ground in July 2026 and a targeted completion timeline of 15 months.

At its core is a 112,445 sq ft manufacturing shop floor built to aerospace-grade specifications: a 9-metre clear height, production slabs with a load-bearing capacity of 5 tonnes per sq m, and a climate control system that holds interior temperatures strictly between 25°C and 29°C. This kind of precision prevents microscopic deformation of materials in high-tolerance parts.

Supporting the shop floor is a B+G+1 administrative and engineering block of over 33,000 sq ft, along with dedicated utility modules, industrial chillers, and independent power infrastructure, according to the developer.

Under the BTO model, a first for Panattoni in India, the developer absorbs all construction and infrastructure risk, delivering a ready-to-occupy, ownership-grade asset to the occupier.

“Our expansion into the Hyderabad cluster is a strategic milestone for Panattoni India. This ₹150 crore (€16.5 million) project highlights our ability to deliver ownership-grade assets that meet some of the world’s most rigorous technical parameters, while broadening our operational footprint and reinforcing India’s position in global supply chain networks,” Panattoni CEO Robert Dobrzycki stated.

The project is expected to generate approximately 500 direct and indirect specialised jobs within Telangana's rapidly growing aerospace corridors.

Telangana's aerospace and defence exports stood at ₹15,900 crore in 2023–24 and had already surged to ₹30,742 crore in just the first nine months of 2024–25, according to state Industries Minister D. Sridhar Babu. This has attracted over 1,500 MSMEs into the state's aerospace supply chain.

Hyderabad ranked third nationally in industrial and warehousing leasing in the first half of 2025, absorbing 3.6 million sq ft, according to CBRE. Panattoni, which entered India in 2022 and is headquartered in Bengaluru, invests around €8 billion a year globally and has delivered 56.3 million sq m of industrial space worldwide.

fact-check-did-nirmala-sitharaman-endorse-quantum-ai-investment-platform-centre-clarifies

Sun May 24 17:19:26 IST 2026

The Centre on Sunday made a major statement on the circulation of some reports that Union Finance Minister Nirmala Sitharaman had endorsed an investment platform due to its allegedly high returns.

The reports claimed that investors could earn up to Rs 3,00,000 with just an investment of Rs 22,000 into the platform—all with the alleged assurance of the government, as 'Quantum AI' had reportedly been given "official status".

According to PIB Fact Check, one of the government's fact-checking arms, such reports talking about the FM endorsing 'Quantum AI' were "fake".

"Neither the Union Finance Minister nor the Government of India is endorsing any such investment scheme or platform," it wrote in a post on X.

In fact, the name 'Quantum AI' has often been associated with Google—it is the tech giant's research division focused on advancing quantum computing—in addition to the investment platform in question, which could have given the claim a false sense of legitimacy.

The viral screenshot also resembled a news article from a reputed news platform, adding to the weight of the false claim.

However, this is not the first time that 'Quantum AI' has been flagged by the Centre for such claims.

Earlier this month, PIB Fact Check had also debunked similar claims of Sitharaman backing the platform's offer of upto Rs 4,00,000 for an investment of Rs 22,000.

In May, the fact-checking arm of the Centre also debunked claims of a webpage falsely impersonating the National Portal of India to promote 'Quantum AI' investment schemes, promising citizens similar fortunes.

third-hike-in-10-days-petrol-diesel-prices-increased-again-by-87-91-paise-per-litre

Sat May 23 08:16:35 IST 2026

south-korea-samsung-labour-dispute-update

Fri May 22 15:19:09 IST 2026

indian-market-earnings-rally

Fri May 22 10:57:40 IST 2026

nykaa-vs-zee-music-the-instagram-reels-lawsuit-that-could-change-things-for-small-creators

Thu May 21 20:31:25 IST 2026

guest-opinion-india-growth-story-concerns

Thu May 21 17:06:07 IST 2026

india-proved-solar-energy-can-be-cheap-now-it-must-prove-it-can-deliver-the-power

Wed May 20 20:37:40 IST 2026

guest-opinion-investing-lessons-kids-doctors

Wed May 20 13:12:16 IST 2026

guest-opinion-indian-investor-buying-opportunity

Wed May 20 12:21:34 IST 2026

india-export-milestone

Tue May 19 15:17:45 IST 2026

second-fuel-price-hike-in-a-week-petrol-diesel-prices-increased-by-90-paise-per-litre

Tue May 19 10:08:57 IST 2026

sensex-recovers-1100-points-from-days-low-why-the-stock-market-made-a-stunning-comeback

Mon May 18 17:23:24 IST 2026

samsung-electronics-strike-what-it-means-for-device-prices-shares-as-47000-workers-on-the-warpath

Mon May 18 17:20:17 IST 2026

after-india-s-waiver-or-not-remark-us-renews-russian-oil-sanctions-relief-for-30-days

Tue May 19 00:07:18 IST 2026

guest-opinion-hormuz-crisis-india-economy

Mon May 18 12:34:54 IST 2026

indian-stocks-rupee-fall-uae-attack

Mon May 18 11:28:09 IST 2026

crude-oil-gold-import-impact

Mon May 18 10:53:06 IST 2026

what-the-maharashtra-vs-rapido-ola-uber-bike-taxi-operations-conflict-is-about

Sun May 17 12:47:21 IST 2026

after-opec-exit-uae-to-store-30-million-barrels-of-crude-oil-in-india

Sat May 16 16:35:48 IST 2026

opinion-why-more-businesses-are-choosing-arbitration-over-litigation-to-settle-commercial-disputes

Sat May 16 12:13:18 IST 2026

good-news-en-route-why-sky-high-airfares-may-hopefully-become-a-thing-of-the-past

Sat May 16 18:42:46 IST 2026

gautam-adani-nephew-sagar-to-pay-18-million-in-us-sec-settlement-over-fraud-case-adani-green-share-price-mixed

Fri May 15 16:34:10 IST 2026

indian-forces-were-able-to-dominate-every-ladder-of-escalation-during-operation-sindoor-cds-gen-anil-chauhan

Fri May 15 21:15:35 IST 2026

petrol-diesel-prices-up-rs-3-amid-global-oil-shock-see-retail-cost-of-fuel-in-metro-cities

Fri May 15 08:39:56 IST 2026

fuel-price-hike-india-inflation

Fri May 15 11:02:16 IST 2026

oracle-revokes-campus-placement-job-offers-for-iit-nit-students-leaving-freshers-stranded

Thu May 14 21:06:03 IST 2026

airtel-leads-market-surge-rupee-record-low-wpi-inflation

Thu May 14 17:00:04 IST 2026

did-gautam-adani-s-offer-lead-to-us-ending-dollar265-million-fraud-cases-against-him-what-we-know-so-far

Thu May 14 22:35:17 IST 2026

gold-price-triple-three-years

Thu May 14 12:23:51 IST 2026

rolls-royce-hal-iampl-expansion

Thu May 14 15:06:41 IST 2026

mumbai-cng-price-hike

Thu May 14 15:29:19 IST 2026

rupee-falls-market-recovers

Thu May 14 13:03:17 IST 2026

naphtha-shortage-impact-india

Thu May 14 11:32:37 IST 2026