Economy

Services PMI rises to 59.8 in May as demand, output growth pick up

The Services PMI rose to 59.8 in May from 58.8 in April, signalling the fastest expansion since November as firms reported stronger demand and softer price pressure

RBI denies selling $12 bn gold, says reserves steady at 880.52 tonnes

The central bank said reports claiming it sold gold worth about $12 billion were incorrect, adding that its physical gold holdings remained unchanged at 880.52 tonnes

Cabinet approves highway projects worth Rs 19,834 crore in three states

Odisha coastal highway set to take off after a decade-long wait

Fuel exports decline to 930,000 bpd in May, lowest since 2022

India's refined fuel exports fell to a 31-month low in May as refinery maintenance, higher LPG output and stronger domestic demand reduced export availability

US-India trade deal 99% done, last-mile talks this week: US Ambassador Gor

US Ambassador Sergio Gor says 99 per cent of the bilateral trade pact is in place, with negotiators working to resolve final technical and legal issues during talks in New Delhi

Cabinet approves ₹10,000 crore fund to stabilise ATF costs amid crisis

OMCs will be compensated for losses arising from elevated international ATF prices whenever the prevailing import parity price exceeds a benchmark price determined by the government

USTR proposes 12.5% extra tariff on India amid trade deal negotiations

The proposed tariff action, linked to a Section 301 investigation into forced labour import prohibitions, comes as Indian and US officials negotiate a bilateral trade agreement in New Delhi

India's fuel demand outlook hit by price hikes, slowing industrial activity

State retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum implemented four rounds of price hikes ‌since mid-May after holding off earlier due to elections

RBI dismisses gold sale rumours, physical reserves steady at 880.52 tonnes

The clarification from the Reserve Bank of India (RBI) comes following reports that the RBI may have sold gold amounting to approximately $12 billion to shield its foreign-currency reserves

Engaged with US on Section 301 probe over forced labour concerns: Govt

US launched two separate Section 301 investigations on March 11 and 12, 2026, covering 60 economies over concerns related to forced labour and excess industrial capacity

India must challenge proposed 12.5% US tariff under Section 301 probe: GTRI

The US Trade Representative has proposed to impose 12.5 per cent additional duties on 54 countries, including India, for failing to prohibit the import of goods produced with forced labour

US trade body proposes 12.5% duty on India, others on forced labour gaps

The USTR move comes as India and the US work through an interim trade pact, raising compliance questions for exporters in textiles, apparel and other supply chains

India's oil demand growth set for pandemic low on West Asia crisis

Oil demand growth is forecast at 78,000 barrels a day, according to Kpler Ltd., which has slashed its pre-war estimate by almost 40%

India, UK review CETA implementation, discuss roadmap for early rollout

Commerce Secretary Rajesh Agrawal said in a post on X that they took stock of progress and worked though the sticking points

'India's fiscal deficit may rise to 4.7% of GDP in FY27 amid West Asia war'

India's fiscal deficit may widen to 4.7 per cent of GDP in FY27 as higher oil prices, subsidy costs and revenue risks from the West Asia conflict weigh on finances, writes Aditi Nayar of ICRA

Spending cut by 50 ministries helps Centre meet FY26 fiscal deficit goal

Expenditure by 50 ministries and departments came in below revised estimates, helping the Centre contain the fiscal deficit despite lower-than-projected receipts

West Asia conflict: Trade optimism, supply crisis boost Indian tea demand

Merchant exporters are building inventories in anticipation of a recovery in shipments to West Asia, supporting orthodox tea prices despite higher freight costs and trade disruptions

Commerce ministry to launch PPI and a revamped WPI series on June 15

The new PPI framework is being built on supply and use tables, which officials said makes it more consistent with national accounts and reduces double counting

Datanomics: Can DKS sustain Siddaramaiah-led K'taka growth momentum?

As D.K. Shivakumar takes charge, Karnataka hands over a high-growth economy marked by rising incomes, expanding national share and investment-led fiscal management

Geopolitical uncertainty slows MSME credit growth: CRIF High Mark

CRIF High Mark said MSME credit growth moderated amid global uncertainty, while early-stage stress surfaced among micro borrowers, manufacturing firms and working-capital loans