Economy & Policy News

Rising margins, volumes, new markets drive India's petroleum exports higher

India's petroleum exports rose 46 per cent year-on-year as better terms of trade, recovering volumes and shipments to newer markets boosted overall merchandise export growth

Centre-state meet to discuss GST 2.0 impact, Viksit Bharat roadmap

The two-day conference will discuss GST 2.0, the macroeconomic outlook and financing for agricultural transformation, energy transition and Viksit Bharat

RBI may increase debt sales to drain surplus liquidity after 9 years

Indian bond traders expect the central bank to step up bond sales for liquidity absorption, as policymakers likely seek to strengthen transmission of expected rate hikes

RBI sells ₹50000 cr govt securities in OMO to drain surplus liquidity

India's central bank sold ₹50000 crore ($5.2 billion) of bonds under its open market operations program as it stepped up efforts to drain surplus cash from the banking system

India's Russian oil imports: From war-era discounts to Trump-era shifts

US lawmakers' push to name India in a Russia sanctions bill puts its Russian oil purchases back in focus. Here's how the trade has changed since Moscow's invasion of Ukraine

War, extreme weather put Asia's food security at risk: Verisk Maplecroft

Fuel and fertiliser disruptions from the Iran war, alongside El Niño-linked weather extremes, are threatening crops and could worsen food inflation across vulnerable Asian economies

US bill empowers Trump to target India with 100% tariff over Russian energy

The legislation, passed by the House in a 262-159 vote after Senate approval, gives Donald Trump power to target major Russian energy buyers with tariffs of up to 100 per cent

India cuts windfall tax on export of petrol, diesel, and aviation fuel

Export duty on diesel has been reduced to ₹20 per litre from ₹25, while levies on petrol have been cut to ₹0.5 from ₹1.5 per litre, respectively

US House passes Russia sanctions bill; 100% tariff threat looms over India

The legislation, approved 262-159, would give Trump the authority to impose steep tariffs on countries buying Russian oil and gas, while expanding sanctions on Moscow's energy sector

Datanomics: Remittances to India from Aus, Saudi cost double the UN target

India's remittance flows are rising, but high transfer costs and limited UPI links show the need for wider cross-border payment connectivity

GST Council to take up process reforms at October 7 meeting: FM Sitharaman

Finance Minister Nirmala Sitharaman says the GST Council will discuss e-invoicing, input tax credit rules and other process reforms during its October 7 meeting

CBIC plans wider AI use, unified portal to ease customs compliance costs

CBIC Chairman Vivek Chaturvedi says AI, machine learning and real-time analytics can lower transaction costs and help create a near-touchless customs system for businesses

New Development Bank: How Brics bank raises money and finances projects

During the Brics summit in New Delhi, the grouping urged the New Development Bank to expand local-currency financing. Here is how bank raises funds and what it finances

India remains key driver for global growth: IMF Deputy MD Nigel Clarke

Clarke visited India last week and held meetings with Finance Minister Nirmala Sitharaman, RBI Governor Sanjay Malhotra, NITI Aayog Vice Chairman Ashok Kumar Lahiri and business leaders

Indian economy at inflection point, needs growth rethink: CEA Nageswaran

Nageswaran argued that India needs to rethink its development model for the AI era, using artificial intelligence to boost workers rather than replace them

DGFT should review notification aligning ITC(HS) code with Finance Act 2026

The real test is whether a bank can refuse to close an otherwise eligible entry merely because the customer disputes or declines to pay the charge.

35 yrs of liberalisation: Tax system makes progress, but reforms unfinished

India's tax system has come a long way since 1991, but simplifying GST, clearing tax disputes and improving taxpayer services remain key priorities

Food inflation unlikely to persist through year-end: CEA Nageswaran

CEA V Anantha Nageswaran said India's economic momentum remained intact despite global risks and expressed confidence in meeting the FY27 fiscal deficit target.

India's exports to US rise 21.83% in Aug; shipments to China jump 52.35%

The inbound shipments rose 17 per cent to USD 12.77 billion from China and by 65.78 per cent to USD 5.97 billion from the US, according to the ministry's data.

Telangana tops India's inflation table for eighth consecutive month

Telangana recorded the highest combined inflation among states in August at 6.27 per cent, while rural inflation exceeded urban inflation across most leading states.