Former Reserve Bank deputy governor Michael Patra on Monday said corporate India is a “missing actor” in the country’s growth story, stressing that the economy can accelerate beyond 8% if businesses step up investments.“Now we are seeking to head back [to 8%]. The most important missing actor in this is corporate India, which is not investing enough,” Patra said at an Elara Capital event, PTI reported.He noted that growth slipped to 6.5% in FY25 due to a cyclical correction but the Q1FY26 print of 7.8% suggests momentum is building toward the 8% mark.Patra identified demand uncertainty as a key factor deterring corporates from investing, since firms are unsure of revenue growth from fresh capacity creation. He added that while exports may not be a dependable driver in the current environment, a boost to consumption followed by investments could set off a virtuous cycle for the economy.He also said inflation management was essential to sustain consumption growth, defending RBI’s post-Covid rate hikes as necessary for long-term stability. On the external front, he played down the impact of US tariffs, suggesting targeted government support to affected sectors.The former monetary policy head pointed out that banks are becoming increasingly inactive, with loans moving to alternative channels and deposits flowing into mutual funds. He also suggested adding one more member to the Monetary Policy Committee to address concerns over the governor’s casting vote, while ruling out the inclusion of liquidity management in its remit as it requires real-time action.Patra flagged structural challenges in labour markets, noting that over half of India’s workforce is not in the right jobs. He emphasised the need to overhaul education, raise women’s participation in the labour force, boost infrastructure spending, and embrace global integration.On long-term risks, he cautioned: “Climate change is a big challenge before an India, which can halt all our ambitions,” adding that the issue is not acknowledged seriously enough.

New Delhi: Central government employees across India are eagerly waiting for the implementation of the 8th Pay Commission, which is expected to revise salaries, pensions, and allowances. These revisions are decided based on the fitment factor, a key multiplier that takes into account inflation, employee needs, and the government’s financial capacity. Inflation plays an important role in these revisions, as it directly affects cost of living and the real value of salaries.

The history of pay commissions shows how inflation and wages have moved together over the years. The 5th Pay Commission was implemented in 1997, when average inflation stood at 7 percent and the minimum monthly pay was fixed at Rs 2,550. While this commission simplified pay scales and introduced dearness relief, salaries eventually lagged behind inflation. In 2008, during the 6th Pay Commission, inflation was around 8–10 percent and the minimum monthly pay was raised to Rs 7,000, an increase of Rs 4,450. This commission brought in structural reforms by introducing pay bands and grade pay, resulting in sharper salary hikes.

The 7th Pay Commission came into effect in 2016, with inflation averaging 5–6 percent. At this time, the minimum salary was set at Rs 18,000, a jump of Rs 11,000 from the previous commission. The 7th Pay Commission introduced the pay matrix system, made pension rules more generous, and even sparked conversations about work-life balance.

Looking ahead, the 8th Pay Commission is tentatively expected to be implemented in 2026, with inflation projected at around 6–7 percent. According to Ambit Institutional Equities, salaries could rise by 30–34 percent under the new commission. However, the government has not yet released official details. Reports suggest that the revised pay scale will account for inflation, economic growth, and a push towards fairer compensation across different roles.

The structure of government salaries typically includes four major components. Basic pay makes up about 51.5 percent of total income, while dearness allowance accounts for nearly 30.9 percent. House rent allowance contributes around 15.4 percent, and transport allowance adds another 2.2 percent. Together, these allowances and revisions are designed to cushion employees against inflation and help maintain their standard of living.

With the 8th Pay Commission on the horizon, government employees are hopeful of a significant salary revision that reflects rising costs and economic realities. While projections hint at a 30–34 percent hike, the final decision rests with the government, and employees across the country are waiting keenly for an official announcement.

Mumbai: Tata Motors on Monday reported a 2% year-on-year (YoY) decline in total domestic sales, which fell to 68,482 units in August from 70,006 units in the same month last year. According to the company’s statement, overall sales, including exports, stood at 73,178 units, slightly higher than the 71,693 units recorded in August 2024.

The decline in domestic performance was primarily driven by the passenger vehicle (PV) segment, where sales fell 7% to 41,001 units, down from 44,142 units a year ago. In contrast, the commercial vehicle (CV) segment performed strongly, with domestic CV sales rising 6 per cent to 27,481 units, while total CV sales, including exports, jumped 10 per cent YoY to 29,863 units.

Medium and heavy commercial vehicles, including trucks and buses, also recorded growth, with domestic sales at 13,405 units against 12,008 units in August 2024. Despite the dip in overall passenger vehicle numbers, Tata Motors’ electric vehicle (EV) portfolio continued to shine.

The company recorded its highest-ever monthly EV sales at 8,540 units, marking a 44 per cent jump compared to August previous year. Tata Motors said the record reflects growing consumer confidence in EVs and the accelerating shift towards green, zero-emission mobility.

Total passenger vehicle sales, including exports and EVs, stood at 43,315 units in August 2025, down 3 per cent from 44,486 units in the year-ago period. Tata Motors said it remains focused on expanding its EV offerings and strengthening its commercial vehicle business, even as passenger car demand saw some moderation during the month.

Meanwhile, last month, the Indian automobile manufacturer announced that it has re-entered South Africa’s passenger vehicle market after six years, launching three SUVs and an entry-level compact hatchback.

“Our return to South Africa marks a significant milestone in Tata Motors’ global journey. We are excited to bring our new-generation of vehicles — engineered with cutting-edge technology, uncompromising safety, and modern design — to a market that values safety, quality and innovation. With Motus as our preferred partner, we are confident in delivering a superior ownership experience that resonates with South African consumers and contributes meaningfully to the local economy,” Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicle Ltd. and Tata Passenger Electric Mobility Ltd., said on August 20.