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Indian economic and fiscal performance

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2026-09-26 06:48 UTC → 2026-09-26 17:20 UTC · added ~~removed~~

India has reported significant growth in its fiscal and investment indicators. For the first half of the 2026-27 financial year, net direct tax collections rose approximately 13% to Rs 12.12 lakh crore, driven largely by a 16.18% increase in advance tax payments. Gross direct tax collections saw a 15.19% increase, though tax refunds also rose by 29.19%. In the preceding fiscal year (2025-26), Foreign Direct Investment (FDI) reached a record USD 94.53 billion. As the ‘Make in India’ initiative marks its 12th anniversary, cumulative FDI inflows from 2014 to 2026 have totaled USD 843 billion. Government officials noted that Production Linked Incentive (PLI) schemes contributed to this economic activity, resulting in Rs 2.40 lakh crore in actual investment and generating over 14.6 lakh direct and indirect jobs across various sectors, including electronics, pharmaceuticals, automobiles, and telecommunications. In the electronics sector, Union Minister Ashwini Vaishnaw noted that India has become the world’s second-largest smartphone manufacturer, producing roughly 330 million devices annually, with a strategic shift toward domestic production of critical components and battery cells. Recent data from the Department for Promotion of Industry and Internal Trade (DPIIT) indicates that FDI in the April-June 2026-27 quarter rose 6 per cent to USD 19.81 billion. Japan emerged as the largest investor during this period with USD 5.71 billion, followed by Singapore, though investment from the United States saw a decline of over 76 per cent compared to the previous year. The Reserve Bank of India (RBI) reported that the economy demonstrated resilience with a 7.8 per cent growth rate in Q1 2026-27, despite global volatility and rising energy prices. While headline inflation rose to 4.8 per cent in August, the economy remains supported by strong export growth and a moderate current account deficit.

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