Revenue growth of India’s 18 largest states, which account for over 90 per cent of the gross state domestic product, is likely to witness a uptick at 7-9 per cent this fiscal to Rs 40 lakh crore, up against 6.6 per cent in last fiscal, a report said on Tuesday.

India is projected to see 6.4 per cent GDP growth in FY26 and FY27, with both numbers revised slightly upward, reflecting a more benign external environment than assumed in the April reference forecast, the International Monetary Fund’s (IMF) World Economic Outlook (WEO) report said on Tuesday.

The IMF revised upwards its outlook for India’s GDP growth for the current fiscal by 20 basis points (bps) to 6.4 per cent. The global agency also revised upwards its growth forecast for FY27 by 10 bps to 6.4 per cent.

The price of silver recorded a significant increase, while gold prices registered a modest decline on Tuesday.

Silver's price increased from Rs 1,12,984 to Rs 1,13,307 per kilogram, a Rs 323 increase, according to the India Bullion and Jewellers Association (IBJA).

Union Communications Minister Jyotiraditya M. Scindia on Tuesday launched the Sanchar Saathi mobile application in Hindi and 21 regional languages.

Originally launched in January 2025, the application allowed users to report suspicious communications, block or trace lost or stolen phones, and check for unauthorised mobile connections.

The application is now available on both Android and iOS platforms, empowering citizens across India with multilingual digital safety tools. Around 46 lakh users have already downloaded the application, an official statement said.

The average monthly net GST collection has risen by a robust 10.7 per cent to Rs 1,80,774 crore in the first quarter (April-June) of the current FY 2025-26, compared to the average monthly net GST collection of Rs 1,63,319 crore in the same quarter of the previous year, Minister of State for Finance Pankaj Chaudhary informed the Parliament on Tuesday.

The current consolidation phase in the market is like middle overs in cricket -- discipline and strategy -- where investors should not take risks but build the portfolio for a rally, a report said on Tuesday.

Investors should not increase equity portfolio allocation, and maintain 65 per cent allocation in large caps. As much as 35 per cent can be invested in mid- and small-caps, suggested Motilal Oswal Private Wealth in its report.

For investors currently under-allocated to equities, they could consider lump-sum investments in the hybrid category, and a staggered investment approach through SIPs or STPs would be more prudent for pure equity-oriented categories, the report added.

The National Stock Exchange (NSE) Limited on Tuesday reported a 10.3 per cent quarter-on-quarter (QoQ) increase in its net profit to Rs 2,924 crore for the June quarter (Q1 FY26), compared to Rs 2,650 crore in previous quarter (Q4 FY25).

On year-on-year (YoY) basis, it increased by 13.9 per cent from Rs 2,567 crore in year-ago period, according to its financial statement.

The adoption of digital payments across the country recorded a 10.7 per cent year-on-year increase (as of March 2025), according to the latest Reserve Bank of India (RBI) data.

The Central Bank uses an index that evaluates the adoption of digital payments across the country, known as the RBI's Digital Payments indicator (DPI).

The government has raised a tax demand of Rs 21,719 crore as a result of assessments completed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (during July 1, 2015 to March 31, 2025), the Parliament was informed on Tuesday.

In addition, demand of Rs 13,385 crore has been raised (till March 31, 2025) on account of penalties imposed under various sections of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, Minister of State for Finance, Pankaj Chaudhary, told the Rajya Sabha in a written reply to a question.

"Notably, from 01.07.2015 to 31.03.2025, recovery of Rs 338 crore has been made against tax, penalty and interest demand raised under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. However, since collections are not mapped to specific countries or types of foreign holdings, separate data for recoveries related to Swiss deposits or foreign accounts is not maintained," he said.

Global Capability Centres (GCCs) are forecast to contribute 2 per cent of India’s GDP and generate 2.8 million jobs by 2030, a report said on Tuesday.

GCCs in India have evolved from back-office support hubs to global value creators - now leading innovation, technological advancements, and research and development for global corporations, said ACCA (the Association of Chartered Certified Accountants) in its recent report.

These centres are boosting India’s economic growth by driving services exports and creating high-quality finance roles, and they play a key role in managing global operations and work closely with teams across the world.

A skilled workforce (especially tech-related), expansion into tier-II cities, favourable government policies and improving infrastructure are fuelling India’s rise as the world’s front office, the report highlighted.

In FY24, GCCs generated approximately $64.6 billion in export revenue, marking a significant 40 per cent increase from $46 billion in FY23.