Economy & Policy News

Govt updates merchandise trade index base year to FY23 for better accuracy

Government revises the base year for merchandise trade indices from FY13 to FY23 to capture structural shifts in India's trade basket and align the indices with current macroeconomic realities

Oil PSUs utilise 81% of FY26 capex by Jan as expansion drive accelerates

India's state-run oil companies have spent Rs 1.07 lakh crore - 81% of their FY26 capex target - by January, driven by aggressive investments in exploration, production and refinery expansion

New GDP series to overhaul inflation adjustments across key sectors

India's revised GDP series will introduce major changes in inflation adjustment for consumption, investment and trade, shifting toward granular deflators and global SNA standards to reduce volatility

NITI Aayog seeks major overhaul of India's apprenticeship ecosystem

NITI Aayog has proposed a unified apprenticeship mission, stronger industry participation and targeted incentives to address fragmentation, low completion rates and uneven engagement across India

Near-term economic outlook strong with benign inflation, FPI return: RBI

RBI's monthly report says India's near-term outlook remains strong, supported by benign inflation, fiscal consolidation and renewed FPI interest after trade deals with the EU and the US

Five FTAs to be operational this year, says Piyush Goyal at EPM launch

Piyush Goyal said FTAs with the UK, Oman, New Zealand and the EU will be implemented this year as India launches new schemes under the Rs 25,060 crore Export Promotion Mission to boost exports

New I-T Act to enable AI-driven, rule-based tax system from April 2026

CBDT chief Ravi Agrawal said the new Income Tax Act, effective April 2026, will create a rule-based, AI-enabled tax ecosystem aimed at reducing disputes, improving certainty and enhancing compliance

USTR team may visit India in March-end to sign interim trade agreement

A USTR delegation is expected to visit New Delhi in late March to sign the interim India-US trade deal, as negotiators meet in Washington to finalise the legal text ahead of April rollout

Govt publishes handbook on employer compliance under Labour Codes

Labour Ministry releases a handbook outlining 23 compliance actions for employers under the four Labour Codes, offering clarity ahead of final rules expected by the end of the fiscal year

Core infra sectors growth slows down to 4% in January: Govt data

Crude oil and natural gas output recorded negative growth in January

Private sector growth hits three-month high in Feb as new orders pick up

Companies recruit additional staff and scale up output as sales improve

Govt announces seven measures, credit assistance to help boost exports

These measures are part of the ₹25,060 crore export promotion mission. Out of 10 components of the mission, three have already been rolled out in January

India-US interim trade pact to be operationalised in April: Piyush Goyal

He also said that India's free trade agreements (FTAs) with the UK and Oman are likely to be implemented in April

India, US to hold 3-day talks from Feb 23 to finalise leagl text for ITA

Under the interim trade pact, both sides would extend duty concessions to each other on a number of goods traded between them

Saudi crude imports rise, narrowing Russia's lead in India's oil market

Russia will still be the country's biggest supplier this month if flows reach the top of Kpler's range at 1.2 million barrels a day, but shipments are set to drop even further

India's flash PMI rises to 59.3 in February on strong manufacturing growth

The improvement was supported by robust total new orders which rose at he quickest pace since November

New GDP series may introduce more categories to track consumption basket

Panel report released by the National Statistics Office signals shift to more granular expenditure tracking

India likely to join US-led 'Pax Silica' strategic bloc on Friday: Report

India is likely to formally join the 'Pax Silica' initiative on Friday, people familiar with the matter said

India sheds defensive stance, negotiates future-focused trade deals: Goyal

Piyush Goyal says India has moved beyond apologetic trade talks, using FTAs as strategic tools to secure long-term economic gains while protecting sensitive sectors

Europe backs India's AI push and supports early ratification of trade deal

European leaders back early India-EU trade deal ratification at the AI Impact Summit, deepening cooperation on AI, semiconductors, digital governance and strategic growth