Economy & Policy News

FM defends GST rate cuts, cites auto sales and rural PV, tractor growth

Sitharaman says rise in auto sales, tractors and cement output shows GST rate cuts supported demand, even as concerns remain over uneven price transmission

Indian refiners seek alternatives to US dollar for Russian oil payments

Transactions are being carried out by depositing Indian rupees into special overseas bank accounts held by Russian sellers which are then being converted into UAE's dirham or the Chinese yuan

S&P raises India growth forecast for FY27; flags risks from energy shocks

The ratings agency expects growth to moderate from FY26 levels, supported by consumption and investment, while warning of risks from geopolitical tensions and energy prices

West Asia war spillover may push rupee past 98/$, hit stocks: Bernstein

If the conflict lasts much of 2026, the repercussions could be 'catastrophic', Bernstein analysts said, citing supply risks, double-digit inflation and economic growth in the 2%-3% range

REC board approves ₹1.6 trillion market borrowing programme for FY27

The market borrowings of ₹1.6 trillion includes raising up to ₹1.4 trillion through the issuance of capital gains tax exemption bonds

India delays coal flexibility plan as solar power curbs rise: Report

The move comes at a time when the world's second largest user of coal is curbing solar output for lack of dedicated transmission lines

RBI steps in as past intervention flows pressure rupee near record lows

The likely intervention via state-run banks helped the currency hold above its record low of 93.98 per dollar to last quote at 93.96, down 0.1 per cent on the day

Indian refiners buy 60 mn barrels of Russian oil for April amid Iran war

The cargoes were booked at premiums of $5 to $15 a barrel to Brent

S&P lifts India FY27 GDP forecast to 7.1% on strong consumption, investment

S&P Global Ratings said risks from renewed geopolitical tensions and persistent trade-related uncertainties could affect India through fluctuations in commodity prices

Govt orders strengthening of natural gas infra amid supply constraints

Iran conflict has disrupted shipping and gas supplies, including by the near-closure of the Strait of Hormuz, which serves as aconduit for 40% of India's crude oil imports

No levy on Strait of Hormuz Transit, claims 'baseless': Shipping Ministry

Special Secretary in the Ministry of Shipping, Rajesh Sinha, stressed that no charges can be imposed on ships crossing the strait under global regulations

Ahead of WTO's 14th ministerial meet, USTR pushes rethink in MFN norm

The US has called for a rethink of the MFN trade principle ahead of WTO's 14th ministerial meet, citing changing economic realities and concerns over reciprocity

West Asia conflict: Private sector growth at 3-year low as demand falls

HSBC Flash Composite PMI drops to 56.5 as record export orders failed to offset a sharp decline in domestic demand and rising input costs

West Asia conflict: Crude oil price remains high as attacks continue

Crude prices stayed near $100 per barrel amid ongoing West Asia tensions, while India denied reports of paying Iran for tanker passage through the Strait of Hormuz

Unincorporated sector establishments increased 8% last year, shows survey

India's unincorporated sector saw nearly 8% growth in establishments and over 6% rise in employment in 2025, with GVA expanding 10.87%, reflecting steady expansion

Expedite WPI base year revision, says Parliamentary panel report

Committee asks DPIIT to align WPI with revised GDP, CPI and IIP series, and roll out producer price indices to improve price measurement and data accuracy

Govt says fuel stocks adequate, urges public to avoid panic buying

The government is pushing a shift from LPG to PNG, with city gas companies accelerating connections and over 7,500 new domestic and commercial PNG links activated in the past day

Policy response to heatwaves remains cool even as nationwide instances grow

An early March heat spike has raised concerns of a prolonged summer as El Niño risks grow. While preparedness has improved, gaps in planning, funding, and implementation persist

India ready for peak power demand, but supply, transmission risks remain

India is better prepared to meet a record 270 Gw peak power demand this summer, supported by strong coal stocks and renewables, though geopolitical tensions and grid constraints pose risks

India ready for peak power demand, but supply, transmission risks remain

India is better prepared to meet a record 270 Gw peak power demand this summer, supported by strong coal stocks and renewables, though geopolitical tensions and grid constraints pose risks