Economy & Policy News

India turns to Russia, Venezuela for crude supplies amid West Asia crisis

India has also ramped up oil purchases from alternate sources such as Nigeria and Angola

Govt doubles 5-kg LPG cylinder supply for migrant labourers amid shortage

Move aims to ease LPG shortage for migrant workers as supply disruptions from West Asia prompt the government to prioritise domestic consumption

LPG crisis may reduce India's sugar consumption by 400K tonnes: ISMA chief

Centre rules out banning sugar exports; says no proposal to lower edible oil import duties

No plans to impose curbs on sugar exports: Food Secretary Sanjeev Chopra

India is the world's second biggest sugar producer

India, New Zealand likely to sign FTA on April 24, says official

The two countries on December 22 last year announced the conclusion of negotiations for the trade deal which aims at doubling bilateral trade to $ 5 billion in the next five years

Beyond oil shock, Iran war is quietly straining India's financial system

A new report has flagged a delayed risk cycle for India from the US-Iran conflict, as liquidity tightens and cash-flow stress builds before defaults, even as headline indicators remain stable

RBI MPC likely to hold repo rate: 5 indicators to watch out for on April 8

In its MPC decision on April 8, even if RBI holds rates, markets will track crude, rupee, yields, liquidity and intervention signals to gauge stress from oil volatility and external risks

India returns to buying Venezuelan oil to ease supply crunch amid Iran war

India is set to import the most oil from Venezuela in almost six years as over 12 million barrels head to its west coast, reflecting a strategic shift amid West Asia supply disruptions

RBI set to hold rates while confronting weak rupee amid West Asia conflict

RBI now faces a dilemma over whether to raise interest rates to support the currency or keep borrowing costs low to cushion economic growth

Relief for migrant workers as govt doubles daily limit of 5kg LPG cylinder

Decision follows reports of migrant workers returning back to their homes due to LPG shortages; authorities aim to stabilise supply and streamline distribution through state-run channels

Global corporation tax system has become complex, ineffective: Devereux

Economist Michael Devereux calls for moving beyond incremental reforms, arguing current global tax rules are complex, ineffective, and ill-suited to taxing multinationals

Datanomics: Excise duty maths likely to skew if fuel duty cuts stay

Prolonged fuel duty cuts could derail FY27 excise projections, with petroleum taxes - a key revenue pillar - facing a potential ₹1.32 trillion hit

Services PMI falls to 14-month low in March amid West Asia conflict

Growth momentum eased for a second month as output and sales slowed, while rising input costs and the West Asia crisis weighed on demand and business activity

GeM records ₹18.4 trillion GMV since inception; MSMEs dominate FY26

Government e-Marketplace records strong procurement growth, with MSMEs leading participation and AI-driven tools enhancing transparency, efficiency, and monitoring across transactions

APAs to stay relevant despite expanded safe harbour regime: Experts

Experts say advance pricing agreements will continue to be preferred by large firms for flexibility, certainty, and cross-border alignment despite simplified safe harbour rules

Current year more challenging amid West Asia crisis concerns: FM Sitharaman

She said the current year is likely to be more challenging due to the escalating conflict in the West Asia, which has heightened regional security concerns

Sebi wants independent directors to adopt 'constructive approach'

The career bureaucrat-turned-regulator said there is a need for capacity building among independent directors, and announced an initiative to work towards the goal jointly with other stakeholders

RBI MPC begins policy meet amid West Asia crisis; decision on Wednesday

The decision of the six-member Monetary Policy Committee (MPC), headed by Reserve Bank Governor Sanjay Malhotra, will be announced on Wednesday

West Asia crisis: Two more Indian-flagged LPG ships exit the Gulf

A third vessel, Jag Vikram, is still in the west of the Strait of Hormuz, according to ship tracking data

India issues tender to buy 2.5 mn tonnes of urea as Iran war hits supply

India regularly imports urea through global tenders to meet local demand