India's gross GST collections hit a record high of Rs 2.37 lakh crore in April, rising 8.7% from the same month last year, according to government data released on Friday. This is the highest monthly GST tally since the tax was introduced in 2017. GST, or Goods and Services Tax, is the main indirect tax on consumption across India. Monthly collections are a direct read on consumer spending, business activity, and overall economic health. A strong April number carries extra weight because the month marks the start of the new financial year, when business activity tends to pick up. The 8.7% growth rate signals that domestic demand held up and compliance improved, both of which support government revenue without additional borrowing. Higher GST receipts reduce fiscal pressure on the central and state governments, giving them more room to spend or cut their deficit. Watch whether this pace holds through the June quarter, which will signal if consumer demand is durable or if the April surge was partly seasonal.
Pakistan's economy grew 3.7 percent in FY2026, its fastest rate in four years, according to the Pakistan Economic Survey presented by Finance Minister Muhammad Aurangzeb. Growth beat last year's 3.18 percent but missed the 4.2 percent target, with floods, regional conflict, and weaker food exports cited as key drags.
The Union government released an additional Rs 1,09,019 crore in tax devolution to states on August 1, 2026, separate from the regular monthly transfer. The lump-sum release aims to accelerate state capital spending in the July-September quarter, with Uttar Pradesh, Bihar, and Madhya Pradesh among the top recipients.
US mortgage rates have risen to a one-year high as markets weigh Federal Reserve rate uncertainty and Middle East conflict-driven inflation fears. Higher rates increase monthly payments for new buyers and are likely to further suppress housing market activity and refinancing.
Pakistan's Sensitive Price Index rose 13.52 percent year on year for the week ending July 2, 2026, marking 45 consecutive weeks of annual gains. Electricity up 49 percent, wheat flour up 68 percent, and LPG up 44 percent year on year are the main drivers.
