Archives May 2026

New Delhi, May 5 (BNP): India’s net direct tax collections recorded steady growth in FY26, rising 5.12% year-on-year to ₹23.40 lakh crore, compared with ₹22.26 lakh crore in the previous financial year.

The increase reflects combined collections from corporate and non-corporate taxes, indicating continued expansion in the tax base despite challenging global and domestic economic conditions.

During the same period, tax refund outgo declined slightly by 1.09% to ₹4.71 lakh crore, suggesting relatively stable refund requirements compared to the previous year.

However, overall collections fell short of the revised budget estimate for FY26, highlighting moderation in revenue growth momentum.

The data underscores a stable yet slower-than-expected growth trajectory in direct tax mobilisation for the fiscal year.

New Delhi, May 5 (BNP): Indian rupee weakened in early trade on Tuesday, falling 20 paise to 95.43 against the US dollar amid heightened global risk sentiment.

Currency traders attributed the decline to renewed geopolitical tensions following fresh military exchanges between the United States and Iran in the Gulf region. The developments have triggered risk aversion in global markets, prompting investors to move toward safe-haven assets, particularly the US dollar.

Adding to the pressure, Brent crude oil prices remained elevated near $113 per barrel, continuing to weigh on oil-importing economies such as India.

At the interbank foreign exchange market, the rupee opened at 95.30 and slipped further during early deals before settling at 95.43 against the dollar, marking a decline from its previous close.

Mumbai, May 5 (BNP): The Mumbai–Ahmedabad high-speed rail project has reached a significant engineering milestone with the successful installation of five heavy portal beams over active railway tracks at Maninagar in Ahmedabad.

The work, completed within 22 days, involved the placement of precast, prestressed portal beams designed to support the upcoming high-speed rail infrastructure while ensuring uninterrupted movement of existing railway services.

This achievement highlights the project’s focus on precision engineering and efficient execution in densely operational railway zones. The installation was carried out with careful planning to minimise disruption and maintain safety standards on active tracks.

The milestone marks steady progress in the development of India’s first high-speed rail corridor, which aims to significantly enhance connectivity between Mumbai and Ahmedabad once completed.

Project authorities noted that such complex construction activities demonstrate advancements in infrastructure capability and coordination within India’s railway ecosystem.

New Delhi, May 5 (BNP): Union Minister of Commerce and Industry Piyush Goyal chaired a high-level review meeting with senior officials to assess the progress of India’s ongoing Free Trade Agreement (FTA) negotiations and to chart a strengthened export strategy.

Held a review meeting with key officers and chief negotiators to assess the progress of India’s Free Trade Agreements.

Discussed ways to encourage more businesses to export from India, further unlocking the country’s potential to export world-class products.

Also, explored… pic.twitter.com/L4WGSaXuOF

— Piyush Goyal (@PiyushGoyal) May 4, 2026

During the meeting, the Minister reviewed the status of key trade discussions aimed at expanding India’s global market access and improving competitiveness for domestic exporters. Officials also presented updates on ongoing engagements with partner countries and outlined steps to accelerate trade facilitation efforts.

The review focused on enhancing India’s export performance through deeper integration into global value chains, diversification of export markets, and strengthening sector-specific competitiveness.

Emphasising the importance of trade expansion, the Minister directed officials to further streamline processes and ensure that ongoing FTA negotiations align with India’s broader economic and strategic priorities.

The meeting also underlined the government’s continued commitment to boosting exports as a key driver of economic growth and job creation.

Chennai, May 5 (BNP): In a landmark political development, actor-turned-politician Vijay has secured a historic victory in the 2026 Tamil Nadu Assembly elections, leading his party, Tamilaga Vettri Kazhagam, to a sweeping mandate.

Making his electoral debut from the Perambur constituency, Vijay won decisively and formally received his victory certificate, underscoring a strong endorsement from the electorate. His emergence signals a major shift in Tamil Nadu’s political landscape, traditionally dominated by established players such as the Dravida Munnetra Kazhagam and the All India Anna Dravida Munnetra Kazhagam.

The results point to a broader transformation in voter sentiment, with the TVK’s rise reflecting growing public appetite for alternative leadership. Vijay’s victory, often described by supporters as a “Jana Nayagan” moment, highlights a people-driven mandate that could redefine the state’s political trajectory in the years ahead.

If current trends consolidate, this win may mark the beginning of a new political era in Tamil Nadu, with the TVK poised to play a central role in shaping governance and policy in the state.

May 5 (BNP): The United Arab Emirates has lifted all air traffic restrictions, restoring normal flight operations across its airspace after nearly 10 weeks of disruption linked to regional conflict earlier this year.

The General Civil Aviation Authority (UAE) confirmed the full resumption of normal air navigation services, ending temporary measures that had been in place since late February 2026.

Following the announcement, Dubai International Airport stated that it is steadily scaling up operations and increasing flight movements in coordination with available regional air routes. Airlines are gradually reinstating suspended schedules as capacity across neighbouring air corridors improves.

While the recovery is underway, aviation operations remain dependent on regional coordination and airspace availability. Authorities continue to monitor the situation closely, especially after a recent security alert issued in the region, though no operational changes have been announced.

The UAE aviation sector is now focused on a phased return to full capacity, with global carriers expected to progressively expand services through Dubai as stability in regional routing improves.

May 5: Cricket season just got an upgrade with Meta bringing Live Cricket Updates to Ray-Ban Meta and Oakley Meta glasses. With the new feature, cricket fans in India can now stay on top of every match without reaching for their phone. 

Ask Meta AI to follow your favorite team’s game and get AI-narrated score updates, wicket alerts, milestone highlights, and match results, right to your AI glasses in real time. Think of it as your personal commentator, minus the ad breaks.

Simply say “Hey Meta, follow…” and the name of your favorite team or an upcoming match to receive real-time updates. Whether you’re in a meeting, at dinner, or on your commute, the new experience will help you follow the match live as the action unfolds on the field. 

The feature is currently available in English for cricket matches in India.

New Delhi, May 5 (BNP): India’s automobile sector is expected to maintain its growth momentum over the next two to three quarters, with strong demand likely to persist through calendar year 2026, according to a report by Antique Stock Broking.

The industry has entered FY27 on a positive note, recording healthy volume growth across segments such as passenger vehicles, commercial vehicles, two-wheelers, tractors, and electric vehicles. This broad-based expansion has been supported by improved affordability, upbeat rural demand, and a steady shift toward premium offerings.

The report suggests that favourable market conditions could continue to drive the sector in the near term. However, it also highlights potential risks on the horizon. Rising geopolitical tensions may affect export performance and profitability, particularly in the first half of FY27.

In addition, factors such as higher freight costs, increasing commodity prices, and possible supply chain disruptions could pose challenges, even as the overall outlook for the sector remains strong.

New Delhi, May 5 (BNP): The National Stock Exchange of India (NSE) has introduced Electronic Gold Receipts (EGRs), marking a significant step toward modernising gold trading in the country. The new segment aims to improve transparency and make price discovery more efficient in one of India’s most widely traded commodities.

Electronic Gold Receipts are digital securities that represent ownership of physical gold. The underlying gold is securely stored in vaults approved by Securities and Exchange Board of India (SEBI) and held in electronic form through depositories, ensuring safety and reliability for investors.

With this initiative, NSE seeks to connect the traditional gold market with the formal financial system. Investors can now trade gold in a regulated environment without the need to handle physical assets, making the process more convenient and accessible.

Market participants believe the introduction of EGRs could encourage broader participation by offering a transparent, secure, and technology-driven platform. The move is also expected to strengthen trust and bring greater efficiency to gold trading in India.

New Delhi, May 5 (BNP): Global equity markets opened on a subdued note following renewed geopolitical tensions in the Middle East, which have unsettled investor sentiment worldwide. Concerns over potential disruptions to crude supply routes have led to a sharp increase in oil prices, with benchmarks rising to $113 per barrel.

The surge in oil prices has heightened fears of inflationary pressures and posed fresh challenges to global economic stability. Investors remain cautious as rising energy costs could impact corporate margins and consumer spending in the near term.

Market participants are closely monitoring developments in the region, particularly around key shipping routes, as any escalation may further influence commodity prices and financial markets. Analysts expect volatility to persist as geopolitical risks continue to shape market dynamics.