Data recap: Nvidia’s scrutiny, direct tax collections, IPL expansion

In this weekly Plain Facts compilation, we present to you data-based insights, with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by.

From governance concerns surrounding AI bellwether Nvidia to depleting reservoirs threatening India's agricultural output, corporate taxes outpacing non-corporate collections, a rise in mutual fund SIP stoppages and the BCCI exploring an expansion of the Indian Premier League (IPL), here are the key developments of the week in numbers.

Nvidia turmoil

Jensen Huang resigned on Thursday as the chief executive officer of Nvidia after reports of extramarital affairs with an alleged Chinese spy. Nvidia has been embroiled in controversy ever since Huang admitted to his extramarital relationship with Alice Huang, a former senior executive at Singapore chip firm Megaspeed, reportedly identified by US intelligence agencies as a Chinese intelligence asset.

This prompted an independent probe by Nvidia’s board, while Huang denied any knowledge of espionage. Amid the controversy, Nvidia shares slumped 10%, wiping billions off its market value. It has also drawn Nvidia into escalating US-China tensions.

Tax mop up

Net direct tax collections rose 11.8% year-on-year to ₹14.42 trillion as of 10 November, according to provisional data released by the Income Tax Department.

Taxes paid by non-corporates, led by individuals, continued to account for the largest share of collections. However, corporate tax and securities transaction tax (STT) collections grew faster, rising 18% and 51.6%, respectively.

The jump in STT collections comes amid a wider debate over capital market taxation in India, with the government reportedly considering changes to long-term capital gains tax and STT ahead of the Union Budget in February 2027.

Irrigation security

Following a deficient monsoon, water levels in India's 178 reservoirs were 21% lower than a year earlier as of 5 November and about 17% below normal, Mint reported.

Reservoirs in southern India recorded the largest shortfall against normal storage levels, at 44%, followed by northern India at 24%. Low water levels have raised concerns over irrigation, agricultural output, food prices and hydropower generation.

The impact is also visible in the pace of rabi sowing. As of 6 November, wheat acreage was 12% lower year-on-year, while pulses and oilseeds were down 14% and 24%, respectively. Rice was the only major crop to record an increase, with acreage up 3%.

Numbers talk

₹2-4 per litre: The amount by which Amul and Mother Dairy raised milk prices, citing higher procurement and fuel costs. Average retail prices have risen from ₹55 in November 2022 to ₹61 in October 2026.

₹62,370 crore: The fertilizer subsidy approved by the Centre for the ongoing rabi season, 64% higher than a year earlier. The higher allocation aims to keep input costs affordable for farmers amid volatile global prices.

₹5,000 crore: Blackstone's investment in non-banking financial company (NBFC) IIFL Finance for a 16% stake. Other NBFCs to attract foreign investment in 2026 include Manappuram Finance, Shriram Finance, and Sammaan Capital.

$7.1 billion: The net loss reported by Japan's SoftBank Group in the second quarter, its first quarterly loss in almost two years. This followed a $3.7 billion write-down related to its US data centre investments.

7: The average number of working days of paternity leave taken by Indian fathers, the lowest among the 12 major economies covered in a study by global hiring platform Deel. US fathers averaged 28 days.

SIP stoppages

The number of systematic investment plans (SIPs) discontinued in mutual funds exceeded new registrations in October, pushing the SIP stoppage ratio to 116%, the highest since April 2025, according to data from the Association of Mutual Funds in India (Amfi).

This was the second time in fiscal year 2026-27 (FY27) that the ratio crossed 100%, indicating that more SIPs were discontinued than started. Despite this, monthly SIP contributions remained close to their record levels in August and September. The first instance was in April 2026.

Equity mutual funds, however, saw net inflows fall 14% sequentially in October. While large-cap funds recorded higher inflows, mid-cap and small-cap funds saw declines.

IPL expansion

The Board of Control for Cricket in India (BCCI) is exploring plans to add at least two teams to the 10-franchise Indian Premier League (IPL) from the 2028 season, coinciding with the start of a new media rights cycle, Mint reported.

Pune and Vadodara have emerged as leading contenders, although discussions are at an early stage and the final choice of cities remains undecided. Each new franchise could command a valuation of more than $1 billion, amid strong investor interest.

The league last expanded ahead of the 2022 season, when Lucknow Super Giants and Gujarat Titans were added for $940 million and $750 million, respectively.

Although Pune and Vadodara are smaller markets than Mumbai and Bengaluru, IPL franchise valuations have risen at a compounded annual rate of 22-26% since the league's inception in 2007.

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