Economy

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

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

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

Rupee weakness unlikely to trigger RBI rate hike; inflation in focus

June MPC meeting begins on Wednesday; decision to be announced on Friday

Fuelling the new normal: The high cost of insulating India's fuel users

India is bearing a high cost to insulate motorists, kitchens and flyers from large-scale disruptions in fuel supply

UK won't undermine India FTA benefits; steel imports below quota: Leong

House of Lords member Sonny Leong says the UK remains committed to the India FTA and that steel imports are currently well below proposed quota thresholds

El Nino's local impact may outweigh overall monsoon deficit, warn experts

Experts say the spatial distribution of rainfall and longer monsoon breaks could have a greater impact on farmers and rural livelihoods than the overall seasonal rainfall deficit

Heatwaves, urbanisation drive record power demand, reshape energy planning

A record peak demand of 271 GW in May underscores the growing impact of heatwaves, urbanisation and electrification, while raising fresh questions about grid resilience and energy planning

Centre seeks state funding support for urban NH decongestion projects

States can choose from four funding models, including sharing land acquisition costs, to support ring roads, bypasses and elevated corridors around cities

Fuel price hikes could add up to 48 bps to inflation, warns Crisil

Crisil said cumulative increases in petrol and diesel prices could approach Rs 10 per litre, raising transport costs and exerting upward pressure on both food and core inflation