Economy
Odisha plans engineering department overhaul as capex utilisation slows
The state is considering cadre reforms and restructuring engineering wings after manpower shortages hindered utilisation of one of India's largest capital expenditure allocations
 "Odisha plans engineering department overhaul as capex utilisation slows")
Welfare bills, rising commitments drag 4 states from surplus to deficit
Karnataka, Telangana, Chhattisgarh, and Bihar saw revenue balances weaken between FY23 and FY25 as spending outpaced receipts: CAG
 "Welfare bills, rising commitments drag 4 states from surplus to deficit")
Mospi to launch India's first monthly services output index on July 14
The new monthly indicator will track short-term changes in services-sector output and serve as the counterpart to the Index of Industrial Production
 "Mospi to launch India's first monthly services output index on July 14")
Energy stress, weak monsoon to slow India's growth to 6.6% in FY27: S&P
The rating agency expects higher inflation, a possible RBI rate hike and slower economic growth amid energy market disruptions and below-normal monsoon conditions
 "Energy stress, weak monsoon to slow India's growth to 6.6% in FY27: S&P")
West Bengal govt unequivocally pro-business, says FM Swapan Dasgupta
Finance Minister Swapan Dasgupta says the state will pursue a pro-business policy framework, revive industrial incentives and align more closely with the national economy
 "West Bengal govt unequivocally pro-business, says FM Swapan Dasgupta")
Odisha plans ₹50,000 crore maritime infra push with port, shipbuilding hub
The state plans a greenfield deep-sea port at Bahuda and a shipbuilding cluster near Paradip as it seeks to strengthen its strategic maritime position
 "Odisha plans ₹50,000 crore maritime infra push with port, shipbuilding hub")
India, US review trade pact progress, no clarity yet on interim deal
India, US wrap up ministerial talks on first phase of bilateral trade pact ahead of tariff deadline
 "India, US review trade pact progress, no clarity yet on interim deal")
Govt bond yields fall to three-month low after RBI Governor's comments
The benchmark 10-year bond yield fell 6 basis points to 6.80 per cent as RBI Governor Sanjay Malhotra's remarks eased rate-hike concerns
 "Govt bond yields fall to three-month low after RBI Governor's comments")
CBDT readies strategy for meeting ₹26.97 trillion direct tax target
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 strategy for meeting ₹26.97 trillion direct tax target")
Iran to accept oil payments in any currency: What it could mean for India
Iran's central bank said oil export payments are not limited to the US dollar, highlighting greater flexibility as negotiations with Washington move forward
 "Iran to accept oil payments in any currency: What it could mean for India")
Russia, India working to boost bilateral trade volumes: Kremlin spokesman
India and Russia aim to boost bilateral trade to $100 billion by 2030, strengthening their "privileged partnership" across key economic sectors
 "Russia, India working to boost bilateral trade volumes: Kremlin spokesman")
Goyal-Greer talks yield little clarity on India-US interim trade deal
Commerce Minister Piyush Goyal and US Trade Representative Jamieson Greer reviewed key trade issues, but negotiations offered few signals on when an interim agreement may be concluded
 "Goyal-Greer talks yield little clarity on India-US interim trade deal")
What is the Index of Services Production and why does it matter?
As the services sector drives more than half of India's GDP, the ISP aims to provide timely insights into its performance and growth trends
 "What is the Index of Services Production and why does it matter?")
S&P cuts India FY27 growth forecast to 6.6% on energy stress, weak monsoon
The Indian economy recorded 7.7 per cent growth in the 2025-26 fiscal and 7.1 per cent in 2024-25
 "S&P cuts India FY27 growth forecast to 6.6% on energy stress, weak monsoon")
India raises domestic coal use to over 50% at import-based power plants
India is already using domestic coal for operating 5.7 gigawatts capacity so far this year of the total 18.7 GW capacity at imported coal-based power plants
 "India raises domestic coal use to over 50% at import-based power plants")
Share of non-household investors in deposits rise to 26.3% in FY26
India's bank deposits are shifting toward non-household funds, with rising term deposits and falling CASA share, while private banks steadily gain deposit share
 "Share of non-household investors in deposits rise to 26.3% in FY26")
Commerce ministry calls for govt-level talks on concerns over metal scrap
The ministry has sought engagement with the EU over its Waste Shipment Regulation amid concerns that restrictions on scrap exports could affect Indian industry
 "Commerce ministry calls for govt-level talks on concerns over metal scrap")
NITI Aayog proposes 'model pharma chapter' for future FTA negotiations
Think tank flags non-tariff barriers as a bigger hurdle than duties for $35.8 bn drug exports
 "NITI Aayog proposes 'model pharma chapter' for future FTA negotiations")
Great Nicobar Port won't stop; Phase-I to start by 2028: Sarbananda Sonowal
Shipping minister says the Galathea Bay transhipment terminal project will proceed as planned, despite opposition over environmental and tribal concerns
 "Great Nicobar Port won't stop; Phase-I to start by 2028: Sarbananda Sonowal")
India, US begin trade talks as two nations rework deal amid tariff changes
India and the US have begun high-level talks to reshape their trade pact amid changing US tariff rules, with both sides aiming for an interim deal before July 24
 "India, US begin trade talks as two nations rework deal amid tariff changes")