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India’s direct tax system has undergone a significant expansion over the last decade, marked by a sharp rise in the number of taxpayers as well as sustained improvements in administrative efficiency. Time-series data released by the Income-Tax Department indicate that this expansion has been broad-based and persistent, reflecting deeper formal participation rather than a short-lived compliance surge.Between Assessment Year (AY) 2013-14 and AY2024-25, the total number of taxpayers, defined as persons who either filed a return of income or in whose case tax was deducted at source, increased from 5.26 crore to 12.13 crore.This increase, which more than doubles the…

FILE – 1 Ounce Fine Gold Coins are displayed in the safe deposit boxes room at the Pro Aurum gold house in Munich, Germany. | Photo Credit: AP Gold (Aurum or Au) is a chemical element on the periodic table, and a metal known for its bright yellow colour and shine. A natural occurrence in use since ancient times, it has been considered precious by people for a long time. And the reason for that lies in a unique alloy (mixture of metals) of science, history, and human belief. Gold bars | Photo Credit: Getty Images/iStockphoto Science There are various…

Benchmark equity indices Sensex and Nifty extended their gains for the third straight session on Wednesday (February 18, 2026), driven by last-hour buying in bank, metal, and FMCG shares. The 30-share BSE Sensex jumped 283.29 points, or 0.34%, to settle at 83,734.25 in a volatile trade. During the day, it touched an intraday high of 83,770.05. The 50-share NSE Nifty gained 93.95 points, or 0.37%, to close at 25,819.35. Among the Sensex firms, Tata Steel, ITC, Axis Bank, Reliance Industries, Mahindra & Mahindra, Larsen & Toubro, Bajaj Finance, Bajaj Finserv, Hindustan Unilever, State Bank of India, UltraTech Cement, Trent, Sun…

U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands as they attend a joint press conference at the White House in Washington, D.C., U.S.. File | Photo Credit: Reuters U.S. President Donald Trump can reduce tariffs on imports from India to 18% from the current 25% without the need of a fresh Executive Order, according to a senior official in the Ministry of Commerce and Industry. Instead, Mr. Trump can simply update the U.S. Federal Register with the new tariffs, the official explained, adding that this should take place in the next “3-4 days”.According to a joint…

India’s textile sector has been steadily losing ground in global export markets. In contrast, Bangladesh has woven together a remarkable export success. Given the recently signed India-EU Free Trade Agreement (FTA), and with Bangladesh poised to lose its Least Developed Country (LDC) status, this is an opportune moment for India’s textile industry.Within the textile value chain, India’s exports to the EU remain concentrated in intermediate products — particularly yarns and fabrics — rather than in finished garments such as T-shirts, shirts, and trousers. Bangladesh’s exports far exceed India’s in two readymade garment categories in particular — knitted or crocheted garments…

Reserve Bank of India. File Picture | Photo Credit: Reuters Reserve Bank of India (RBI) has deferred the implementation of Unique Transaction Identifier (UTI) for all over-the-counter (OTC) derivatives to obtain a comprehensive view of the market to January 2027, the banking regulator said in a statement.“At present, all transactions in OTC markets for Rupee interest rate derivatives, forward contracts in Government securities, foreign currency derivatives, foreign currency interest rate derivatives, and credit derivatives are reported to the Trade Repository managed by Clearing Corporation of India Limited (CCIL-TR). It has now been decided to mandate UTI for all such transactions….The…

Passive human structures like roads and settlements sometimes reduced animal vigilance, an Indian Institute of Science release said. File | Photo Credit: The Hindu Humans have climbed to the top of the food chain by skillfully hunting, trapping, and fishing for other animals at scales that far exceed other predators, altering how the animals behave and earning the tag of a “super-predator”. But a new study led by the Centre for Ecological Sciences, Indian Institute of Science (IISc), suggests that there is a bit more nuance to this idea. While animals clearly respond with fear to humans who hunt or…

Amit Kore. | Photo Credit: File photo Amit Kore has been elected as the new chairman of the board of directors of Karnataka Lingayat Educational (KLE) Society. The 46-year-old industrialist is the son of Prabhakar Kore, who retired from the post of chairman after serving the society for nearly 42 years, in various capacities. Amit’s name was announced in a meeting of directors in Belagavi on February 20, after it was unanimously decided upon by them. Prabhakar was named the honorary executive president.“Amit has been serving as a member of the board of management of KLE Society since 2010. He…

Mines Minister G. Kishan Reddy at a critical minerals summit of the industry body Federation of Indian Chambers of Commerce & Industry (FICCI). Photo: X/@kishanreddybjp India will commence production of rare-earth permanent magnet within this year, Union Minister for Mines G. Kishan Reddy stated Thursday (February 19, 2026). Rare-earth permanent magnets are among the strongest variant of magnets and utilised in electric vehicles, renewable energy installations, electronics, aerospace and defence. Essential to also note for context, the Union Cabinet had given its nod to a scheme for rare-earth permanent magnet manufacturing, worth 6,000 metric tons per annum, in November last…

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