Economy & Policy News
40-day oil buffer plan enters action phase with five new SPR projects
The West Asia crisis has intensified concerns over India's ability to withstand global oil supply disruptions
 "40-day oil buffer plan enters action phase with five new SPR projects")
Datanomics: GST turns 9, collections see slower growth in recent years
GST enters its 10th year with slab reforms underway, but key sectors remain outside the tax net as revenue growth and tax-GDP gains trail expectations
 "Datanomics: GST turns 9, collections see slower growth in recent years")
Mospi pushes harmonised data ecosystem to power citizen-centric governance
Statistics Secretary Saurabh Garg says harmonising administrative data across departments will improve interoperability, AI-driven analytics and evidence-based policymaking
 "Mospi pushes harmonised data ecosystem to power citizen-centric governance")
India's industrial output growth hits five-month high of 5.1% in May
Industrial output growth rose to 5.1 per cent in May as electricity generation strengthened and the government adopted Output-PPI for the new IIP series
 "India's industrial output growth hits five-month high of 5.1% in May")
Long road to 50 as govt moves fiscal anchor from deficit to debt-GDP ratio
A lower GDP base, subsidy pressures, geopolitical shocks and future spending commitments could make the Centre's goal of reducing debt to 50 per cent of GDP by FY31 significantly more challenging
 "Long road to 50 as govt moves fiscal anchor from deficit to debt-GDP ratio")
Govt to add ₹30,000 crore to NIIF to catalyse foreign investments
The Centre's total commitment to the sovereign-anchored fund will rise to Rs 60,000 crore, supporting a new infrastructure fund and attracting global investors
 "Govt to add ₹30,000 crore to NIIF to catalyse foreign investments")
Govt to lift curbs on petrol, diesel sales to commercial buyers from July 1
On June 12, the government had prohibited industrial and commercial consumers from purchasing petrol and diesel from retail outlets, directing them to source fuel from designated consumer pumps
 "Govt to lift curbs on petrol, diesel sales to commercial buyers from July 1")
India, Saudi Arabia sign pact to deepen water management cooperation
The agreement, signed during Saudi Water Week in Jeddah, aims to promote collaboration on sustainable water management, irrigation systems and capacity building
 "India, Saudi Arabia sign pact to deepen water management cooperation")
Wider fiscal gap unlikely to threaten India's rating, says Moody's
Moody's said higher energy prices may create temporary budget pressures, but India's improving fiscal position and commitment to deficit reduction should help preserve its investment-grade status
 "Wider fiscal gap unlikely to threaten India's rating, says Moody's")
India seeks EU scrap export relief as curbs threaten trade pact gains
From May 2027, the EU's revised waste shipment regulation is set to bar exports of non-hazardous waste to countries outside the OECD group of mostly developed economies
 "India seeks EU scrap export relief as curbs threaten trade pact gains")
Weekly policy watch: PMI data, PM Modi's Seychelles visit in focus
India's policy focus this week will be on Prime Minister Narendra Modi's Seychelles visit, industrial output, PMI data and forex reserves
 "Weekly policy watch: PMI data, PM Modi's Seychelles visit in focus")
A ChatGPT for Indian statistics? Mospi lays AI groundwork with new platform
The govt is building a common data platform to unify official economic statistics, with plans to develop it into an AI model that can answer queries using trusted official data
 "A ChatGPT for Indian statistics? Mospi lays AI groundwork with new platform")
India to prioritise Qatar, Bahrain FTAs over GCC trade agreement
New Delhi expects bilateral negotiations with Qatar and Bahrain to move faster than GCC-wide talks, while also preparing to revive trade negotiations with Israel
 "India to prioritise Qatar, Bahrain FTAs over GCC trade agreement")
Board of Trade meet on July 3 to discuss $2 trillion exports target
Piyush Goyal will chair the Board of Trade meeting on July 3 to discuss boosting exports to $2 trillion by improving FTA utilisation and cutting logistics costs
 "Board of Trade meet on July 3 to discuss $2 trillion exports target")
Monsoon challenge puts VB G RAM G's performance under the spotlight
As MGNREGA comes to a close, both critics and supporters keenly eye VB G RAM G's performance
 "Monsoon challenge puts VB G RAM G's performance under the spotlight")
Rising debt, AI boom and financial fragilities raise global risks: BIS
Bank for International Settlements said rising public debt, financial vulnerabilities and uncertainties surrounding the AI boom are increasing risks to the global economy, despite resilient growth
 "Rising debt, AI boom and financial fragilities raise global risks: BIS")
Statsguru: Electronics hit hard by surging chip prices amid AI boom
India imported memory chips worth $6.79 billion in FY26, 53.41 per cent more than in FY25
 "Statsguru: Electronics hit hard by surging chip prices amid AI boom")
Weekly economy wrap: Core sector slowdown, US trade talks shape policy week
India's policy week was marked by US trade talks, weak core output, stronger FDI, coal-import substitution and a faster disinvestment push
 "Weekly economy wrap: Core sector slowdown, US trade talks shape policy week")
Gifts from abroad over the years via diplomatic channels up for auction
The first public Toshakhana e-auction features around 300 gifts received by Indian diplomats, with proceeds going to the Consolidated Fund of India
 "Gifts from abroad over the years via diplomatic channels up for auction")
CBDT readies plan to meet ₹26.9 trillion direct tax target in FY27
CBDT has drawn up a multi-pronged strategy to achieve its ₹26.97 lakh crore direct tax target, backed by strong early collections
 "CBDT readies plan to meet ₹26.9 trillion direct tax target in FY27")