India’s Goods and Services Tax (GST) revenues climbed to Rs 1.89 lakh crore in September, registering a strong 9.1% year-on-year increase. This consistent growth is significant, occurring despite expected sales stagnation following August’s GST rate rationalisation announcement and the discontinuation of GST from online money gaming. The robust collections highlight sustained economic activity.
Indian stock markets will remain closed on October 2 for Gandhi Jayanti and Dussehra, with trading resuming Friday. October features 11 market holidays, including key Diwali dates. Ahead of the RBI policy, markets showed recovery in early trade, though the Sensex had dropped 3.30% over the past eight days.
RBI Governor Sanjay Malhotra warned that US tariffs pose risks to India’s economic growth, potentially decelerating it from late 2025. Despite this, the economy remains resilient, bolstered by domestic factors and GST reforms. The central bank, however, kept the repo rate unchanged at 5.5%
The Reserve Bank of India lowered its FY26 inflation forecast to 2.6% while raising India’s GDP growth to 6.8%, driven by a good monsoon and GST rationalisation. The central bank maintained the policy repo rate at 5.5% for the second consecutive review, balancing easing inflation with global tariff uncertainties that could impact future growth.
Gold price prediction today: Gold and silver are poised for a long-term bull run, despite immediate volatility. Gold recently hit record highs, fueled by Fed rate cut expectations. However, a looming US government shutdown and key economic data releases could trigger short-term price swings, particularly impacting silver.
Stock market recommendations: Mehul Kothari of Anand Rathi recommends buying HUDCO, IFCI, and City Union Bank today. HUDCO and IFCI are poised for uptrend continuation after retesting their 200 DEMA, offering attractive risk-reward. City Union Bank shows a breakout from consolidation with an inverse head & shoulder pattern, indicating further upside.
Reserve Bank of India Deputy Governor Swaminathan J urged public sector banks to build strong capital buffers. He stressed proactive risk management amid global uncertainties. The government also notified a new Payments Regulatory Board. This board replaces the RBI’s internal payments body. RBI revised its liquidity framework to ensure predictable short-term interest rates. These changes…
Tata Sons has missed the Reserve Bank of India’s listing deadline, with its application to surrender its core investment company registration still awaiting a decision. The banking regulator has not yet responded to Tata Sons’ March submission, creating uncertainty for the conglomerate. Lawyers indicate RBI could accept the request or extend compliance time.
