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    Spirit Airlines says it's going out of business after 34 years, ending operations immediately
    Spirit Airlines appears closer to shutdown as time dwindles for government bailout
    Indian Financial Markets – Resilience and Resurgence - Keynote Address by Shri Sanjay Malhotra, Governor, Reserve Bank of India at the 25th FIMMDA-P...
    DPIIT Secretary Shri Amardeep Singh Bhatia reviews NICDC projects in Haryana and Rajasthan; holds industry stakeholder consultations
    Trump says he'll place 25% tariff on autos from the EU, accusing it of not complying with trade deal
    The Latest: Trump administration says war in Iran has been terminated' before 60-day deadline
    ED moves special court in Mumbai for custody of rape accused 'godman' in money laundering case
    New ED panel okayed 800 PMLA cases against 'emerging' threats like digital arrest, foreign interference
    Trump says he'll place 25% tariff on autos from EU, accusing bloc of not complying with trade deal
    Andhra nets Rs 5,542.7 cr tax revenue in April, 'highest-ever' monthly collections
    Punjab records highest-ever GST collection of Rs 2,987.4 cr in April
    Bank, realty, corporate scams have declined in India: ED director
    GST collections surge to record high of Rs 2.43 lakh cr in April
    Gross and Net GST revenue collections for the month of Apr, 2026
    5th India–Tanzania Joint Trade Committee Meeting Held in Dar es Salaam to Strengthen Bilateral Economic Cooperation
    Modi empowered ED to cleanse cancer of financial crimes; not to target anyone: MoS Chaudhary
    Govt to sustain capex push despite fiscal stress due to global uncertainties: FinMin Official
    Department of Commerce Notifies Revised Remission of Duties and Taxes on Exported Products (RoDTEP) Schedules for Alignment with Amended Customs Tarif...
    DPIIT Signs MoU with Chamber India to Boost Startup Ecosystem and Strengthen Global Linkages
    Government notifies revised Special Additional Excise Duty (SAED)/Road and Infrastructure Cess (RIC)] rate on exports of diesel and aviation turbine f...
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May 2, 2026
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Airline insolvency and shutdown prompt immediate wind-down, flight cancellations, refunds, and major job and market impact.
Spirit Airlines announced an immediate orderly wind-down of operations, cancelling all flights and ending customer service. The shutdown followed the failure to secure a government bailout amid severe financial distress, including repeated bankruptcy proceedings, heavy debt, rising operating costs and higher jet fuel prices. The company said customers could expect refunds, while about 17,000 jobs and competition in the budget airline market could be affected.
May 2, 2026
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Bankruptcy and bailout pressure left Spirit Airlines facing shutdown risk amid mounting debt and repeated insolvency filings.
Spirit Airlines faced an acute shutdown risk after the expected government bailout did not materialise, leaving its future uncertain amid a reported final proposal for a taxpayer-funded takeover. The airline's financial distress arose against the backdrop of repeated bankruptcy proceedings, rising operating costs, mounting debt and higher jet fuel prices, with prior Chapter 11 protection and later bankruptcy filings reflecting continuing balance-sheet strain.
May 2, 2026
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Financial market development reforms deepen liquidity, expand participation, and strengthen transparency across India's money, bond, and derivatives markets.
Indian financial markets are described as having matured through policy support, with stronger liquidity management in money markets, deeper and more liquid government securities markets, and an evolved derivatives framework for wider participation and easier risk management. Market infrastructure reforms include electronic trading platforms, expanded central clearing, initial margin rules for non-centrally cleared derivatives, and enhanced reporting of OTC foreign exchange, interest rate derivative, and gold transactions. Ease of investment for foreign investors has also been improved through relaxed norms, expanded retention routes, permitted investments from Special Rupee Vostro Accounts, and connectivity between domestic and global bond platforms.
May 2, 2026
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Industrial corridor development gains focus as DPIIT reviews infrastructure progress, stakeholder concerns and investor facilitation needs.
DPIIT reviewed progress of industrial corridor projects in Haryana and Rajasthan under the National Industrial Corridor Programme and held stakeholder consultations on implementation issues, infrastructure needs and investor facilitation. The review covered logistics hub development, industrial area infrastructure, a solar power project for industrial use and coordinated action by DPIIT, NICDC and State Governments to address bottlenecks, support industry requirements and strengthen investor confidence.
May 1, 2026
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Tariffs on EU autos rise amid dispute over trade deal compliance and shifting trade authority.
Higher tariffs on cars and trucks imported from the European Union are set to be imposed, on the stated ground that the EU is not complying with the trade deal previously reached between the parties. The trade framework had set a tariff ceiling on most goods, but the legal basis originally used to impose those charges was later rejected, prompting the use of alternative authorities and interim duties tied to trade imbalance and national security inquiries.
May 1, 2026
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War powers and tariff authority shape the administration's latest moves on Iran, EU trade, and pipeline approvals.
The Trump administration is arguing that the war in Iran ended with an early-April ceasefire, so the War Powers Resolution deadline for congressional authorization does not apply. The administration is also reshaping tariff policy after a Supreme Court ruling limited emergency-based tariffs on EU goods, while a new Canada-to-U.S. oil pipeline has received a key federal approval but still needs further state and environmental clearances.
May 1, 2026
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Money laundering through benami accounts alleged as ED seeks production warrant in extortion and fraud probe.
Enforcement Directorate sought a production warrant before a special PMLA court for a self-styled godman-cum-astrologer already in custody in separate rape and cheating cases, to proceed in a money-laundering investigation. The agency alleged an extortion racket, laundering through benami bank accounts, and acquisition of properties from proceeds of alleged victim exploitation and financial fraud, and said custody was needed to trace the money trail and identify beneficiaries.
May 1, 2026
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Money laundering risk assessment now targets digital and cross-border frauds, cyber scams, and emerging PMLA threats.
Risk assessment vetting within the Enforcement Directorate has been used to screen and record PMLA matters involving emerging money-laundering threats. The committee, chaired by a Special Director-rank officer, identifies new risk categories such as cyber and crypto-related fraud, digital arrest, fake loan scams, foreign interference, lobbying against national interest, immigration scams, intellectual property fraud, human trafficking and drug trafficking. The reported trend has shifted from cash-based corruption allegations to complex digital and globally connected financial crimes.
May 1, 2026
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EU auto tariffs and trade deal compliance take center stage as proposed tariff hikes unsettle bilateral trade terms.
The United States President announced an intention to raise tariffs on cars and trucks imported from the European Union to 25%, asserting that the EU was not complying with the parties' trade deal. The trade arrangement previously fixed a 15% tariff on most goods and was identified as the Turnberry Agreement, which both sides had earlier said they would preserve. The report notes that the status of the 2025 deal had already been unsettled after a Supreme Court ruling said the President lacked authority to declare an economic emergency and impose tariffs on EU goods.
May 1, 2026
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GST collections rise on compliance drives, AI-based scrutiny and expanded tax administration across Andhra Pradesh
Andhra Pradesh reported its highest-ever monthly tax collections since the introduction of GST, with April 2026 revenue showing year-on-year growth despite the impact of GST rate rationalisation. The collections rose across GST, IGST settlement, petroleum VAT and professional tax, supported by administrative efficiency, compliance improvement and growth in sectors such as real estate and construction. Revenue gains were reinforced by AI-driven data analytics, automated scrutiny, anti-evasion drives, UPI-based transaction analytics and database integration.
May 1, 2026
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Goods and Services Tax collection surge in Punjab driven by enforcement, compliance gains and technology-based anti-evasion measures.
Punjab reported its highest-ever monthly Goods and Services Tax collection for April, with gross and net GST receipts at record levels and strong year-on-year growth. The increase was attributed to improved core tax administration and compliance, and adjusted growth remained positive even after neutralising an abnormal IGST adjustment from the comparable period. Intensified enforcement, data analytics, intelligence-based inspections and anti-evasion drives were cited as key contributors, alongside technology-driven enforcement and taxpayer facilitation.
May 1, 2026
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Money laundering enforcement shifts toward cyber fraud and terror financing as asset attachments, prosecutions and safeguards expand.
Financial crimes have shifted from bank frauds, corporate scams and real estate cheating toward cryptocurrency fraud, cyber-enabled offences, terror financing and narcotics trafficking, with money laundering investigations described as highly complex because they involve multiple jurisdictions, cross-border transactions, layered financial structures and evolving technologies. The agency reported increased prosecution complaints, a high conviction rate, substantial asset attachments and use of restoration provisions to return properties to victims, while also strengthening supervisory controls, summons verification and accountability mechanisms.
May 1, 2026
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GST collections hit record high as import-led revenues outpace domestic growth under the restructured tax regime.
Gross GST collections rose to a record high in April, driven by stronger import-linked revenues and moderate growth in domestic transactions. Net GST collections also increased after refunds were adjusted, indicating continued revenue expansion under the restructured GST regime. The article notes that post-GST 2.0 rate rationalisation, slab simplification, and technology-led administration have coincided with steady monthly growth, while import-led receipts have continued to outpace domestic collections.
May 1, 2026
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GST revenue collections for April 2026 show gross, refund and net figures alongside state-wise settlement and domestic collection tables.
Gross GST revenue for April 2026 is broken into domestic collections and import IGST collections, with separate reporting of refunds and net revenue under CGST, SGST and IGST. The figures are provisional and may vary slightly on finalisation. The document also presents State-wise SGST and the SGST portion of IGST settlement amounts, along with State-wise domestic collections by Central and State formations, GSTIN counts and growth figures.
May 1, 2026
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Bilateral trade and economic cooperation expand as India and Tanzania deepen sectoral collaboration across trade, energy, health, and infrastructure.
Bilateral trade and economic cooperation between India and Tanzania were reviewed through the 5th Session of the Joint Trade Committee, with both sides reaffirming a commitment to strengthen trade, investment, and institutional dialogue. A range of cooperation areas was identified, including local currency trade settlement, long-term business visas, pharmaceuticals, health, education, shipbuilding, mining, digital public infrastructure, e-commerce, agriculture, fisheries, healthcare, transport, renewable energy, and market access issues such as tariffs, phytosanitary measures, and regulatory procedures.
May 1, 2026
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Anti-money laundering enforcement strengthened to curb financial crimes, protect common money, and ensure bias-free investigation.
The Enforcement Directorate's expanded powers under the anti-money laundering framework are presented as a response to money laundering, hawala, benami assets, corporate fraud and terror funding, and not as a tool to target any person. The account stresses zero tolerance for corruption, equal application of law, bias-free investigation, timely filing of chargesheets, and asset attachment and restoration to legitimate owners such as banks, investors and home buyers.
May 1, 2026
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Capital expenditure priority continues despite fiscal stress, as fuel duty changes and export controls aim to balance prices and supply.
Government expenditure policy remains focused on preserving the budgeted capital expenditure push despite fiscal stress arising from global uncertainty and higher crude oil prices. The planned capital outlay is to be maintained to support growth momentum, with priority sectors identified as highways, railways, shipping, ports and urban development. Recent excise duty cuts on petrol and diesel, along with export duties on diesel and aviation turbine fuel, reflect a balancing of price containment, domestic availability and revenue considerations.
May 1, 2026
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RoDTEP schedule alignment updates customs tariff mapping to reduce classification ambiguity and streamline export benefit processing.
The Department of Commerce has revised the RoDTEP schedules to align Appendix 4R and Appendix 4RE with the amended Customs tariff structure under the First Schedule to the Customs Tariff Act, 1975, as updated by the Finance Act, 2026. The revision realigns RoDTEP tariff lines with the updated customs nomenclature, covering additions, deletions and description changes, and is intended to support implementation of RoDTEP benefits in the Customs Automated System, reduce classification ambiguity and maintain consistency between customs tariff entries and RoDTEP schedules.
May 1, 2026
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Startup ecosystem collaboration boosts innovation, global linkages, and support services for recognised startups.
A Memorandum of Understanding between the Department for Promotion of Industry and Internal Trade and Chamber India is directed toward strengthening the startup ecosystem through innovation-led growth, deeper engagement among startups, corporates, investors, and global stakeholders, and expanded international and cross-border collaboration. DPIIT-recognised startups are to receive concessional Chamber membership with a rebate, together with access to export facilitation, IPR advisory, business matchmaking, and participation in global delegations.
May 1, 2026
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Export duty on petroleum products revised as fortnightly levy review keeps petrol nil and raises diesel and ATF export charges.
Revised Special Additional Excise Duty and Road and Infrastructure Cess rates have been notified for exports of petroleum products for the fortnight beginning 1 May 2026. Diesel exports attract duty of Rs. 23 per litre as SAED only, aviation turbine fuel exports attract Rs. 33 per litre as SAED only, and petrol exports continue to attract nil duty. The export levies are reviewed fortnightly on the basis of average international prices, while domestic excise duty rates on petrol and diesel remain unchanged.

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May 4, 2026

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New Delhi, May 4 (PTI) Following are the top stories at 1 pm: NATION DEL14 LD POLLS (11.12 AM)

Election trends: Saffron rise in east with BJP set to bag prized WB and Assam, Vijay’s TVK smashes through TN Kolkata/Chennai: The BJP was forging a possible victory path in West Bengal with leads in 109 seats against the ruling TMC’s 63 and surging ahead in Assam while actor-politician Vijay’s TVK was set for a stunning debut in Tamil Nadu, ahead in 103 seats, leaving the ruling DMK in number three position, according to trends on the Election Commission website.

DEL18 BJP-PM (12.40 PM)

PM Modi to visit BJP headquarters this evening after poll results; likely to address party workers New Delhi: Prime Minister Narendra Modi will visit the BJP headquarters here on Monday evening, as trends indicated a win for the party in West Bengal and Assam.

CAL72 WB-POLLS-4TH LD BHABANIPUR (12.25 PM)

Mamata consolidates lead by 16,706 votes over BJP's Suvendu in Bhabanipur Kolkata: West Bengal Chief Minister and TMC supremo Mamata Banerjee on Monday consolidated her lead over BJP challenger Suvendu Adhikari by 16,706 votes in the high-profile Bhabanipur constituency in south Kolkata after early jitters.

MDS69 KL-POLLS-UDF-CELEBRATION (12.33 PM)

Kerala polls: UDF surges ahead, jubilant scenes at Indira Bhavan Thiruvananthapuram: Congress-led UDF workers broke into euphoric celebrations at Indira Bhavan on Monday as early trends in the April 9 Assembly polls pointed to the front’s emphatic return to power in Kerala after a decade.

MDS68 TN-POLLS-BJP (12.33 PM)

BJP bigwigs trail behind Vijay's TVK, DMK in TN Chennai: BJP's prominent candidates, including state chief Nainar Nagenthran, former Governor Tamilisai Soundararajan and Union Minister L Murugan, are trailing behind the DMK and Vijay-led TVK candidates, respectively, in Tamil Nadu on Monday.

CAL61 WB-POLLS-VICTORY-RALLIES-LD BARRED (11.51 AM)

No victory rallies to be allowed on Monday after announcement of assembly poll results: Bengal CEO Kolkata: West Bengal Chief Electoral Officer Manoj Agarwal said no rallies celebrating the victory of candidates will be allowed in the state on Monday as the counting of votes for 293 assembly seats was underway.

BOM10 GJ-BYPOLL-LD TREND (11.58 AM)

Gujarat: BJP's Harshad Parmar establishes clear lead in Umreth assembly bypoll Anand (Gujarat): BJP candidate Harshadbhai Parmar maintained a decisive lead over Congress rival Bhrugurajsinh Chauhan in the Umreth assembly bypoll in Gujarat's Anand district, according to the latest counting trends on Monday.

BOM11 MH-BYPOLLS-SUNETRA PAWAR (12.15 PM)

Poised for win in Baramati bypoll, Sunetra Pawar urges supporters to avoid victory rallies Pune: Maharashtra Deputy Chief Minister Sunetra Pawar, who is heading towards a decisive win in the Baramati assembly bypoll, appealed to NCP workers and her supporters on Monday not to take out victory processions once the result is declared.

LEGAL LGD14 SC-REGISTRY-SUPER CJI (12.41 PM)

SC slams ‘nasty’ Registry for not issuing notice to ED, says officials think they are ‘super CJI’ New Delhi: In a rare and scathing rebuke of its own back-office, the Supreme Court on Monday lashed out at the apex court Registry, terming its conduct “nasty” and saying its officials think they are acting as “super Chief Justice of India”.

LGD8 SC-WB-CENTRAL FORCES (11.29 AM)

SC's no to urgent hearing of plea seeking continuance of CAPF in Bengal to curb post-poll violence New Delhi: The Supreme Court on Monday refused urgent hearing on a plea seeking continuance of central forces in West Bengal even after conclusion of polls to curb post-election violence, saying such decisions have to be taken by the political executive.

LGD12 SC-TRANSGENDER ACT (11.46 AM)

SC agrees to hear pleas against Transgender Persons (Protection of Rights) Amendment Act New Delhi: The Supreme Court on Monday sought responses from the Centre, all states and Union territories on a batch of pleas challenging the constitutional validity of the Transgender Persons (Protection of Rights) Amendment Act, 2026.

BUSINESS DEL16 BIZ-PMI-MANUFACTURING (12.13 PM)

India's mfg growth sees mild recovery in Apr, Iran war exerts upward pressure on inflation: PMI New Delhi: India's manufacturing sector activity witnessed mild recoveries in growth of new business intakes and production, but rates of increase were the second-weakest in nearly four years.

DEL15 BIZ-NCLAT-VEDANTA-ADANI (11.25 AM)

NCLAT dismisses Vedanta's appeal against selection of Adani group's bid for Jaiprakash Associates New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed the two petitions filed by Vedanta Ltd, where the mining group challenged the selection of Adani Enterprises' bid for debt-ridden Jaiprakash Associates Ltd (JAL).

FOREIGN FGN28 JAMAICA-JAISHANKAR-LD CRICKET (12.42 PM)

Cricket binds India, Jamaica in ties 'written in runs, respect, friendship': Jaishankar Kingston: Cricket serves as a bridge between India and Jamaica, fostering a relationship “written in runs, respect and friendship”, External Affairs Minister S Jaishankar said as he dedicated a digital scoreboard, gifted by New Delhi, to the Caribbean nation.

FGN22 PAK-HINDU-CIVIL SERVICE (11.35 AM)

2 men from minority Hindu community in Pakistan set to join federal civil service Islamabad: Two men from the minority Hindu community have qualified to join the federal civil service of Pakistan, where representation of such groups in government jobs is historically low. By Sajjad Hussain

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