Business
India will continue to be fastest growing economy, even perform better: FM Sitharaman
New Delhi, June 30: India will continue to be the fastest-growing economy at the current rate of growth — or even better — and with the monsoon being good, agriculture will definitely come up with a more positive number, Finance Minister Nirmala Sitharaman said on Monday.
The GDP growth accelerated to a robust 7.4 per cent in the fourth quarter of 2024-25, as result of which the growth rate for the full financial year works out to 6.5 per cent on the back of a strong performance of the agriculture, construction, and services sectors, according to latest RBI data.
In a series of posts on X social media platform, taken out from media interviews, the finance minister said this growth rate will continue, and may even become better with good monsoon around.
She further said that deepening of our markets is actually showing and “the retailers are benefitting, ordinary citizens are benefitting”.
“Our systems are transparent. They are digitised and can be accessed from home. Individuals are able to do it on their own rather than depend on others to help them out. These are signs of a very good dynamic economy,” FM Sitharaman emphasised.
According to her, it is clear from the policy that labour-intensive units will be given support.
“We have been specific that handicrafts, handmade goods etc will get succour. So there is no way in which we are choosing between one (labour) and the other (capital/tech). Manufacturing, whether it is employment-intensive, or requires automation, policy support will be given,” the Finance Minister highlighted.
Budget after budget over the past 11 years, this government under Prime Minister Narendra Modi “has made sure that we make some concrete policies that will help people, particularly the MSMEs,” she added.
Like the way PM Modi pushed the Aspirational Districts to meet saturation in most of the schemes, the Dhan-Dhaanya Krishi Yojana will make agricultural productivity the centre focus, and the value addition as the way in which farmers’ income can be increased even in these areas, she mentioned.
“So these are areas in which, in fact, I did suggest to the banks that in these 100 districts, banks should come up with tailor-made schemes for them,” said FM Sitharaman.
PM Modi has also been very keen that defence will not be left wanting.
“Defence’s requirements will be met. Since 2014, attention has been given to small and greater details of demands from defence, whether it is bulletproof jackets or getting the goods in time to the higher reaches,” she posted.
“Indian defence production itself has seen a different growth and today they are also becoming prominent exporters. Other than exports, the way in which domestic capacities have given us the advantage of buying from India for Indian purposes has actually marked the difference,” FM Sitharaman added.
Business
Customs duty on gold, silver, platinum tops Rs 10,460 crore since duty hike

New Delhi : The government has collected Rs 10,463 crore in customs duty from imports of gold, silver and platinum between May 13 and August 2 following the increase in import duties on the precious metals, Parliament was informed on Monday.
In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said customs duty collections during the period stood at Rs 10,040 crore on gold, Rs 328 crore on silver and Rs 95 crore on platinum.
The combined customs duty collection from the three precious metals thus amounted to Rs 10,463 crore during the period.
With effect from May 13, the government had increased the import duty on gold and silver to 15 per cent from 6 per cent, while the duty on platinum was raised to 15.4 per cent from 6.4 per cent.
Moreover, consequential changes were also made to duties on related items, including gold and silver dore, coins and findings.
Chaudhary said the government had taken the decision to curb discretionary imports and prioritise foreign exchange for essential imports such as crude oil, fertilisers, industrial raw materials and capital goods.
The duty hike came against the backdrop of rising global uncertainties, including the conflict in West Asia and the effective blockade of the Strait of Hormuz, which had pushed up prices of crude oil as well as food and fertiliser imports.
The minister also informed the House that enforcement agencies seized 161 kg of smuggled gold and arrested 116 persons between May 13 and June 30.
India is the world’s second-largest consumer of gold after China with imports largely driven by demand from the jewellery sector.
Gold imports account for a significant outflow of foreign exchange and are closely monitored by policymakers from a balance-of-payments perspective.
Business
TRAI mandates 1601-series numbers for service calls from utilities, logistics firms

New Delhi : The Telecom Regulatory Authority of India (TRAI) on Monday directed telecom operators to begin onboarding entities from select non-financial sectors onto the new 1601-series numbering framework for transactional and service voice calls extending a system already in use by the banking, financial services and insurance (BFSI) sector.
After this decision, consumers can identify genuine service and transactional calls and curb impersonation and fraud carried out through regular 10-digit mobile numbers.
In addition, TRAI said it has issued directions on the use of the 1601-series numbers for entities in sectors other than BFSI and government organisations which currently use the 1600-series numbering framework.
The authority also noted that the widespread adoption of 1600-series numbers by BFSI entities has provided valuable operational experience for expanding the trusted numbering framework to other sectors.
Under the first phase of implementation, the 1601-series will be allotted to entities in the utilities sector, including electricity distribution companies, water utilities, city gas distribution companies, LPG distributors and other utility service providers.
The logistics and courier sector has also been included in Phase-I, covering courier companies, express logistics firms, parcel delivery service providers as well as freight and logistics operators involved in consignments delivery.
TRAI said the Department of Telecommunications (DoT) has allocated the 1601-series for such calls and telecom service providers (TSPs) have been directed to complete migration and onboarding of eligible entities covered under Phase-I within 90 days from the date of the order.
The regulator further noted that 1601-series numbers would be allocated directly to eligible entities rather than intermediaries or aggregators following verification by telecom operators.
“The distinct numbering identity will enable the consumers to easily identify legitimate service and transactional calls, thereby strengthening trust in such voice-based communications,” the regulator said.
Additionally, TRAI clarified that the 1601-series numbers cannot be used for promotional voice calls by any entity.
Business
Centre’s expenditure on 1,847 big infra projects touches Rs 21.97 lakh crore

New Delhi: The expenditure on India’s 1,847 major infrastructure projects, currently being implemented by the Centre, has reached Rs 21.97 lakh crore (as of June 2026), which represents over 54 per cent of the total investment of Rs 40.54 lakh crore earmarked for these mega projects, reflecting steady progress in the pace of work, according to a factsheet issued by the government on Monday.
Many projects have reached advanced stages of completion, with around 709 projects exceeding 80 per cent physical progress, while another 337 projects have passed 80 per cent of financial completion, the factsheet states.
The transport and logistics sector leads with the 1,341 projects worth Rs 22.32 lakh crore, reflecting the focus on connectivity.
These projects are playing a crucial role in pushing up the country’s economic growth rate and creating more jobs.
Efficient monitoring of infrastructure projects is being carried out through PAIMANA (Project Assessment, Infrastructure Monitoring and Analytics for Nation-Building) digital platform. Developed by the Ministry of Statistics and Programme Implementation (MoSPI), PAIMANA is used for monitoring ongoing Central Sector infrastructure projects costing Rs 150 crore or more.
In addition to strengthening project monitoring, PAIMANA has expanded its role to support infrastructure performance monitoring through a dedicated Performance Monitoring Dashboard which was launched on April 16, 2026.
The Performance Monitoring Dashboard brings together performance indicators across key infrastructure sectors in a unified digital platform. The indicators are compiled from official data provided by the concerned Ministries and Departments and are updated periodically based on the latest available information.
A detailed indicator framework spans six infrastructure sub-sectors. These are Power, Civil Aviation, Telecommunications, Railways, Roads, and Ports, Shipping and Waterways.
The Performance Monitoring Dashboard has now been expanded to 165 indicators. This expansion includes the addition of 54 new indicators, significantly enhancing the comprehensiveness of infrastructure performance monitoring.
A single digital interface allows monitoring of performance sector by sector. It offers interactive visualisation and time-series analysis for policymakers, researchers and stakeholders.
A centralised dashboard delivers one cross-sector view of infrastructure sectors. This capability deepens inter-sectoral analysis.
The current framework gauges sectoral performance through growth rates. It reviews year-on-year, month-on-month and cumulative growth, targets and capacity utilisation in chosen sectors, the official statement added.
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