Economy & Policy News
Govt revises fiscal deficit ratios for FY23-FY25 after GDP base year update
The fiscal deficit was earlier estimated at 4.8 per cent for FY'25, 5.63 per cent for FY'24 and 6.4 per cent for FY'23
 "Govt revises fiscal deficit ratios for FY23-FY25 after GDP base year update")
Flexi-staffing industry growth falls to three-quarter low in Q3FY26
Sequential growth in India's flexi-staffing sector slowed to 0.5 per cent in Q3 FY26 as firms paused hiring amid labour code implementation, according to an ISF report
 "Flexi-staffing industry growth falls to three-quarter low in Q3FY26")
West Asia conflict jolts oil markets as analysts weigh future energy shock
Brent crude briefly surged to $120 a barrel amid supply disruptions in West Asia. Analysts warn that the Iran war could reshape oil price trajectories and pose fresh risks to India's energy security
 "West Asia conflict jolts oil markets as analysts weigh future energy shock")
GIC Re war-risk curbs over West Asia war expose cracks in marine insurance
GIC Re's decision to withdraw war-risk cover in sensitive maritime zones highlights the fragile economics of marine insurance and raises concerns for Indian refiners dependent on global oil shipments
 "GIC Re war-risk curbs over West Asia war expose cracks in marine insurance")
India secures additional LPG, LNG supplies from non-Hormuz routes
Indian refiners report 10 per cent increase in LPG production since government order
 "India secures additional LPG, LNG supplies from non-Hormuz routes")
Govt seeks Parliament approval for ₹2.01 trillion extra FY26 spending
Finance Ministry seeks Parliament approval for Rs 2.01 trillion net additional FY26 spending through the second supplementary demand for grants, with allocations for subsidies and reserve funds
 "Govt seeks Parliament approval for ₹2.01 trillion extra FY26 spending")
Oil could hit $150/bbl, $200 possible on demand destruction: WoodMac
Oil prices could rise to $150 per barrel as a massive Gulf supply disruption forces demand destruction, with $200 possible if the conflict persists, says Wood Mackenzie
 "Oil could hit $150/bbl, $200 possible on demand destruction: WoodMac")
Tariffs, West Asia crisis get under the skin of Kolkata's leather hub
Every crease and fold tells the story of the city's leather industry, stretched thin by tariffs, disrupted consignments, and a fragile global market
 "Tariffs, West Asia crisis get under the skin of Kolkata's leather hub")
E-way bill generation rises 18.8% in February to third-highest level
An e-way bill is an electronically generated document mandated under the GST regime for the movement of goods valued at more than Rs 50,000
 "E-way bill generation rises 18.8% in February to third-highest level")
Govt eases China-linked FDI curbs under Press Note 3: What it means
The Union Cabinet has reportedly eased FDI norms under Press Note 3, which requires prior government approval for investments from entities in countries sharing a land border with India
 "Govt eases China-linked FDI curbs under Press Note 3: What it means")
Govt relaxes FDI norms for China, other countries sharing land border
The decision was taken in a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi
 "Govt relaxes FDI norms for China, other countries sharing land border")
RBI steps up support for rupee, bond markets as crude oil prices surge
Central bank steps into forex and bond markets as rising crude prices threaten inflation, the rupee and government finances
 "RBI steps up support for rupee, bond markets as crude oil prices surge")
Datanomics: India-Canada seek to reboot bilateral energy relations
India and Canada step up energy cooperation with a $1.9-billion uranium deal as New Delhi pushes its nuclear expansion under the Nuclear Energy Mission for Viksit Bharat
 "Datanomics: India-Canada seek to reboot bilateral energy relations")
Hike in pump prices unlikely for now even as Brent tests $120 per barrel
Oil prices spike past $100 amid Iran war and supply cuts, raising fears of a sharply higher import bill, inflation and current account deficit for India
 "Hike in pump prices unlikely for now even as Brent tests $120 per barrel")
Active job vacancies on govt job portal falls to 16-month low in Feb
The count of active jobs in February was the lowest since October 2024, when it was 14.12 lakh, according to the NCS performance dashboard
 "Active job vacancies on govt job portal falls to 16-month low in Feb")
West Asia war: Refiners asked to maximise LPG output for local consumption
Facing supply risks from the West Asia conflict, the government has ordered all refiners to channel full C3-C4 streams into LPG production to ensure adequate supply for households
 "West Asia war: Refiners asked to maximise LPG output for local consumption")
Impact of rising crude prices on inflation won't be substantial: FM
Finance Minister Nirmala Sitharaman, in a written statement, said that the medium-term impact of global crude oil price rise on inflation would depend upon several factors
 "Impact of rising crude prices on inflation won't be substantial: FM")
SC refuses to examine challenge to IT Act's digital search provisions
SC refused to examine a plea challenging Income Tax Act provisions permitting digital access during search operations, calling the concerns speculative and allowing withdrawal of the petition
 "SC refuses to examine challenge to IT Act's digital search provisions")
Customs issues norms for return of export cargo amid West Asia crisis
The field offices under the CBIC will recover all export incentives, including IGST, drawback, etc., manually from such cargo, if they have already been disbursed
 "Customs issues norms for return of export cargo amid West Asia crisis")
Crude at $115 per barrel could raise India's oil import bill by $64 billion
If global crude averages $110-115 per barrel in FY27, India's net oil imports could rise by $56-64 billion annually, worsening the current account deficit and fuelling inflation
 "Crude at $115 per barrel could raise India's oil import bill by $64 billion")