Economy

Govt to review windfall tax on export of diesel, ATF fortnightly: CBIC

Govt to review windfall tax on diesel, ATF fortnightly as excise cuts aim to shield consumers and ensure domestic fuel availability amid oil price surge

Govt imposes taxes on fuel exports as West Asia conflict jolts supply

The country raised LPG prices earlier this month and subsequent speculation around a likely increase in pump prices of diesel and gasoline has led to panic buying

India's wheat harvest expected to rise in 2026 but below estimates

After years of weak output, production rebounded in 2025 on favourable weather, but a late-February heat spike again this year raised concerns

Centre raises commercial LPG supply to 70%, prioritises key industries

Oil Secretary Neeraj Mittal directed the additional supply be prioritised for labour-intensive industries such as steel, automobiles, textiles, etc which support other essential sectors

Rupee hits all-time low of 94.70 against US dollar amid global tensions

The rupee opened at 94.18 and kept sliding to breach the 94.50-mark before hitting 94.70 against the US dollar during intra-day trade, down 74 paise from its previous close

Excise duty cut can result in fiscal loss of ₹1.5 trillion, say economists

₹10 per litre excise duty cut on petrol and diesel may cost ₹1.5 trn in FY27 but help sustain consumption amid the West Asia crisis, even as economists flag risks to fiscal space

Why taxes on petrol and diesel remain India's most reliable revenue cushion

Petrol and diesel remain outside the GST framework, giving governments flexibility to impose excise duty, cess and VAT without the constraints of tax sharing

Petrol excise cut: How fuel taxes fill govt coffers and who gets the money

The Centre's excise duty cut has put the spotlight back on petrol and diesel taxes, a major revenue source for both Centre and states and a key pillar of government finances

India cuts fuel duty on petrol & diesel, imposes export levy on diesel, ATF

Ministers say decision aims to cushion consumers and support oil marketing companies as crude prices surge amid Iran War

Why India cut fuel excise duty now and what it means for petrol prices

India's excise duty cut on petrol, diesel comes amid rising global oil risks linked to West Asia tensions; here's why the move matters, how fuel prices are calculated, and what it means for consumers

Govt cuts excise duties on petrol, diesel by ₹10/litre each amid Iran war

The move comes against the backdrop of a global energy crisis triggered by the US-Israel conflict with Iran and Tehran's blockade of the Strait of Hormuz

High energy prices may impact FY27 fiscal position; buffers available: ICRA

Elevated global crude and gas prices may affect India's FY27 fiscal position, though buffers such as expenditure savings and fiscal tools could help manage pressures, ICRA said

OECD projects India's GDP to grow at 7.6% in FY26, 6.1% in FY27

The Organisation for Economic Cooperation and Development (OECD) on Thursday projected India's GDP to grow at 7.6 per cent in the current fiscal and 6.1 per cent in 2026-27.

'CPI alignment, flexibility need backed 4% inflation target retention'

Economists support retaining the 4% inflation target, citing CPI alignment and the flexibility it offers RBI to manage supply shocks while sustaining growth

Oil rises as investors reassess West Asia ceasefire prospects

Oil jumps over 3% as Middle East tensions threaten supply, with Hormuz disruption and global outages intensifying fears of a prolonged energy crisis

India's GDP growth above 7% in FY27 despite global headwinds: Assocham

India's economy is expected to grow above 7% in FY27, supported by domestic demand and investment, even as geopolitical tensions and global slowdown risks persist

India has about 60 days of fuel stocks, govt dismisses shortage claims

The Ministry of Petroleum and Natural Gas said all petrol pumps across the country are adequately stocked and operating normally, with no rationing of petrol or diesel

Can WTO MC14 deliver a consensus WTO reform agenda this time?

India's challenge at MC14 is conceptually clear, even if diplomatically complex: use the credibility conferred by its new bilateral relationships to defend, not dilute, the multilateral order

DGTR initiates probe against imports of Chinese, Indonesian paperboards

The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) has started the exercise following a complaint filed by Indian Paper Manufacturers' Association

Indian iron ore imports set to hit 7-year high in FY26 on strong demand

Overall imports are likely to reach 12 million to 14 million metric tons in 2025-26, more than doubling from a year earlier, analysts and trade officials said