Economy

Govt raises windfall tax on petrol, diesel, ATF exports from August

Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased, while domestic excise duty rates remain unchanged.

Govt bonds recover on lower crude prices, rupee surrenders early gains

Softer crude prices, expectations of lower state borrowing and FCNR(B) inflows supported bonds, while importer dollar demand erased the rupee's intraday gains.

Coal output from captive, commercial mines rises 9.6% to 14.8 mt in July

Coal output from captive and commercial mines rose to 14.78 million tonnes in July, with the government citing higher productivity and improved capacity utilisation.

Rail freight rises 9% to 141 mt in July on higher coal, iron ore loading

Indian Railways reported strong freight growth in July, supported by higher movement of coal, iron ore, fertilisers and foodgrains, while passenger traffic also increased.

Manufacturing PMI falls to near five-year low in July as sales, hiring slow

HSBC's India Manufacturing PMI fell to 53.5 in July, its lowest level since August 2021, as sales, input purchases and job creation slowed despite resilient export demand

House panel seeks curbs on NFRA powers, softer audit rules in Bill

Panel recommends a risk-based approach to restrictions on non-audit services and cooling-off norms, while cautioning against expanding NFRA's powers at the cost of ICAI's autonomy

Rajasthan constitutes task forces to boost exports in key sectors

Aims to improve inter-departmental coordination and ensure regular monitoring of projects

CEA Nageswaran warns 'free' public services come at heavy cost for economy

The CEA pointed out that pricing vital utilities like water at zero leads society to treat them as limitless, invariably resulting in waste and destruction

SBI, HSBC and ICICI lead India's overseas deposit drive, data shows

The currency had declined to a record low in May but has steadied after the measures were announced in June

Uttar Pradesh logs 53% jump in real estate investment at ₹68,328 crore

This was higher than the capital investments of ₹28,411 crore and ₹44,526 crore in the housing and commercial real estate recorded during calendar years 2023 and 2024 respectively

Pending GST refund claims decline sharply over past two years: Govt

This is significantly lower than 907 claims involving a refund amount of ₹274 crore at the end of FY24; and 374 claims involving a refund amount of ₹246 crore as of FY25

Rise in wholesale inflation driven by global commodity, energy costs: Govt

Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that the government has been actively undertaking a series of measures to control inflation

Corrosion costs India ₹14.1 trn annually; infra, energy worst-hit: Report

A Nomura Research report estimates that corrosion costs India ₹14.1 trillion annually, adding that better corrosion-management practices could potentially save the economy nearly ₹5 trn every year

States owe ₹1.74 crore to MGNREGA workers in delay compensation: Govt data

Maharashtra, Punjab and Uttar Pradesh accounted for the bulk of compensation due, while all states and Union territories have moved to the new rural employment framework

Manufacturing PMI falls to 53.5 in July, lowest in nearly 5 years

The HSBC India Manufacturing PMI fell from 54.2 in June to 53.5 in July, as slower growth in new orders, purchasing and employment offset stronger export demand

Govt plans to invest $5 bn to strengthen railway connectivity along borders

The spending, set to unfold over the next 18 months, will help build new tracks, platforms and network strengthening across Punjab, West Bengal, Himachal Pradesh, Rajasthan, Assam and several states

Weekly policy watch: RBI MPC, PMI data, and forex reserves in focus

India's policy calendar this week will be led by the RBI's policy decision, PMI readings and forex reserves data

Traders bet RBI rate hold, cash boost to steepen India's yield curve

The trade reflects a global trend, with the US yield curve sharply steepening after the Federal Reserve held interest rates steady last week

CERC proposes transmission charge relief for delayed renewable projects

Several clean energy projects have been stalled in India because of a lack of transmission infrastructure

Indian drugmakers in no rush to shift to US despite tariff threat

Indian pharma companies are expanding selectively in the US for complex products while retaining India as their manufacturing base despite Trump's tariff threat