India's GST revenue hit a record ₹2.43 lakh crore in April 2025, beating the previous all-time high of ₹2.23 lakh crore set in April 2024. The roughly 9% year-on-year jump marks the strongest single-month collection since the tax was introduced in 2017. April tends to be a strong month for GST because businesses file returns for the full financial year ending March, concentrating a large volume of transactions and compliance in one month. The record signals broad-based economic activity and stronger compliance, both of which feed directly into government revenue. Higher GST intake reduces pressure on fiscal deficit targets and gives the Centre more room to manage capital spending without borrowing more. Watch for whether this momentum holds through the following months, which historically see softer collections as the year-end filing bump fades.
US inflation hit 4.1% in May 2026, its highest level in three years, driven by rising energy prices, keeping a Federal Reserve rate hike in September firmly on the table. Consumer spending rose on tax refunds and a stock market rally, while business investment in AI equipment also rebounded.
RBI data through May 2026 shows that its 85 basis point repo rate cuts since February 2025 are only partially reaching borrowers, with lending rate transmission described as moderated. Slower pass-through limits relief for loan holders and may pressure the RBI to cut rates further to achieve its growth goals.
U.S. consumer prices rose at a 4.2% annual rate in May, the fastest pace in three years, driven by a spike in energy costs. The reading puts pressure on the Federal Reserve to respond, with potential knock-on effects for interest rates, borrowing costs, and household purchasing power.
US inflation rose to a three-year high in May, driven by surging gas and energy prices tied to the Middle East conflict. The reading complicates the Federal Reserve's path toward cutting interest rates and keeps pressure on household budgets.
