📰 India Business Brief: Top Headlines for October 09, 2026

The Economic Times

Major developments reported by The Economic Times highlight landmark indirect tax reforms, IT corporate earnings, and regulatory developments across industries:

• GST 2.0 Overhaul Decriminalises Key Offences: In a major push for ease of doing business, the central government has scrapped arrest powers for routine offences and raised the prosecution threshold to ₹5 crore. The overhaul expands input tax credit (ITC) eligibility to health and life insurance and provides faster refunds to exporters.
• TCS Q2 Net Profit Grows 15% Despite Subdued Revenue: Tata Consultancy Services posted a Q2 profit increase to ₹13,884 crore, driven by a doubling in AI revenue, although revenue growth in constant-currency terms remained moderate.
• Government Rebuffs Musk on Starlink Spectrum Clearances: Addressing Elon Musk's questions over satcom licensing delays in India, the government clarified that regulatory evaluations remain non-discriminatory and all satellite communication applicants are being reviewed on equal footing.
• Dalal Street Pressured by Yields and Rupee Weakness: Rising crude oil prices, elevated bond yields, and renewed foreign fund outflows exerted pressure on the domestic equity benchmark indices, driving India VIX up sharply.

Business Standard

Headlines from Business Standard focus on banking adjustments following RBI actions, aviation cost pressures, and corporate earnings forecasts:

• PSU Banks Hike Repo-Linked Lending Rates: State-run lenders have raised repo-linked lending rates (RLLR) by 25 basis points in response to the Reserve Bank of India's monetary moves, increasing borrowing costs for retail home and auto loans.
• Airlines Increase Fuel Surcharges Amid Jet Fuel Surge: Following IndiGo's recent move, Air India, Air India Express, and Akasa have raised passenger fuel surcharges as aviation turbine fuel (ATF) prices continue to climb ahead of the peak festive travel rush.
• GST Council Eases Interstate Logistics and Compliance: Decisions from the GST Council meeting include allowing small e-commerce merchants to use multi-state warehouses seamlessly, establishing a ₹40-crore cap on penalty-only appeals, and extending seed storage exemptions.
• Q2 Corporate Earnings Forecast Remains Resilient: Nifty 50 companies are projected to deliver an aggregate quarterly earnings growth rate of 24.7% for Q2, marking the strongest quarterly pace in three years, supported by banking and manufacturing performance.

Mint

Key reporting from Mint emphasizes macro inflation risks, corporate transitions, and market reactions across tech and financial sectors:

• Retail Inflation Expected to Hit 23-Month High: Economists project headline retail inflation reached 5.6% in September, heavily stoked by a 10% year-on-year surge in the price of home-cooked vegetarian meals due to edible oil, onion, and LPG costs.
• Nifty Stumbles to Fresh Lows on Tightening Fears: Equity indices recorded sharp corrections as persistent food price shocks and higher global energy costs spurred expectations of a prolonged RBI liquidity tightening stance.
• Bank of Baroda Enters Pension Fund Management: Bank of Baroda has become only the second public sector lender after the State Bank of India to secure regulatory entry into the domestic pension fund management space.
• US Visa and Immigration Policies Cloud Indian IT Sentiment: IT sector equities faced headwind pressures following reports regarding tighter US visa compliance requirements and H-1B filings scrutiny affecting top Indian technology exporters.

Tags: Headlines Business News Economic Times Business Standard Mint Top News