Economy

Crude oil import bill surged 81.5% in May on elevated energy prices

India's crude oil import bill rose sharply in May as higher global energy prices outweighed stable import volumes amid supply disruptions linked to the West Asia crisis

Minutes of June MPC meet: Members wary of generalisation of inflation

RBI Monetary Policy Committee members highlighted risks of inflation becoming broad-based and stressed uncertainty around growth and prices due to the West Asia conflict

Over 7 million employed under Viksit Bharat Rozgar Yojana: PM Modi

Prime Minister Narendra Modi said the employment-linked incentive scheme has generated nearly 7 million jobs and expanded social security coverage for first-time workers

Crisil SME tracker: Road MSMEs under EPC may retain their margins in FY27

Increased allocations for highways and rural roads are expected to drive demand for MSMEs engaged in EPC projects

Cestat ruling: Stock brokers may get clarity on delayed payment charges

Experts say the Tribunal's ruling on delayed payment charges could provide greater certainty to stock brokers on the tax treatment of financing-related charges

Crude surplus may widen Russian discounts as supplies rise post-ceasefire

Indian refiners expect Russian crude discounts to widen as additional supplies from Iran and West Asia enter the market following the US-Iran ceasefire agreement

PM Modi to launch Rs 25,016 cr coal gasification project in Odisha

The project will house India's first commercial-scale coal-to-ammonium nitrate facility and is aimed at boosting energy security and reducing import dependence

India's forex reserves decline $9.98 bn to $671.62 bn as gold assets shrink

The decline comes after forex reserves had already slipped in the previous week, RBI data showed

MPC Minutes: Need to stay watchful on inflation, says RBI governor

The Reserve Bank of India (RBI) on Friday released the minutes of meeting of the Monetary Policy Committee (MPC) held during June 3-5

Why El Nino could become India's next growth and inflation challenge

With rainfall turning weaker and El Nino risks rising, India could face pressure on farm output, food inflation, rural demand and overall economic growth in FY27

Direct tax collections rise 15% to ₹5.21 trillion till June 17 in FY27

Net direct tax collections rose to ₹5.21 trillion as strong growth in non-corporate taxes and advance tax payments offset modest growth in corporate tax receipts

Why govt wants ONGC to build India's next ₹15,000 crore strategic reserve

The facility would expand India's existing strategic storage capacity of 5.33 MMT by roughly one-third amid geopolitical conflicts and oil supply disruptions

India's return to West Asian oil set to be slow despite Hormuz reopening

State refiners have already secured sufficient crude for the next two months and are evaluating long-term supply commitments from West Asian producers

Rationalised royalty rates aim to cut costs, boost oil and gas exploration

In a bid to simplify the structure, the government has also introduced a flat deduction formula for wellhead price calculations

Gold imports slump after duty increase, May volumes at 25-30 tonnes

Monthly gold imports have declined to 25-30 tonnes from 70-80 tonnes, while recycling of old jewellery has increased following the recent hike in import duties

PM, Japan's Takaichi to hold talks in Assam in July, eye supply-chain deals

Japanese Prime Minister Sanae Takaichi is expected to visit Guwahati with a business delegation, with investment, supply chains and energy security high on the agenda

India-UK trade pact opens premium vehicle market, protects EV push

JLR says local manufacturing plans remain unchanged as India opens its premium vehicle market to British imports while protecting lower-cost EV segments

India-UK social security pact to yield £500 million annual savings

The Double Contribution Convention will exempt eligible Indian professionals and employers from UK social security payments for five years, reducing costs significantly

Iranian oil may return to India as US-Iran peace boosts Chabahar project

The proposed US-Iran agreement could revive India's crude imports from Iran, improve energy security and provide renewed momentum to the strategically important Chabahar Port

Labour code requirements: Firms seek more time to upload gig workers' data

Digital platforms have sought additional time beyond the June 21 deadline to upload gig worker data to the eShram portal, citing operational and technical challenges