Page 2 - Economy
Domestic LPG consumption drops 13% in March amid West Asia conflict
LPG consumption was at 2.379 million tonne in March, 12.8 per cent lower than 2.729 million tonne consumed in the same period last year
 "Domestic LPG consumption drops 13% in March amid West Asia conflict")
Odisha bets on Niti modeled SITI-Odisha for future planning, reforms
A separate State Monitoring and Evaluation Office (SMEO) will function under SITI-Odisha, similar to the performance-tracking systems associated with Niti Aayog
 "Odisha bets on Niti modeled SITI-Odisha for future planning, reforms")
Govt responds to West Asia shipping insurance spike with ₹13k cr pool
The pool would cover all maritime risks like Hull and Machinery, Cargo, P&I and War risk, a statement by the cabinet said
 "Govt responds to West Asia shipping insurance spike with ₹13k cr pool")
Cabinet clears ₹12,980 cr maritime insurance pool with 'war risk' cover
Announcing the decision, Ashwini Vaishnaw said the Cabinet has approved the setting up of a domestic insurance pool to support India's maritime sector
 "Cabinet clears ₹12,980 cr maritime insurance pool with 'war risk' cover")
Govt extends PMGSY-III with ₹83,977 crore outlay, approves rail projects
The Cabinet has extended PMGSY-III till March 2028 with ₹83,977 crore outlay and approved key railway expansion projects to enhance connectivity, capacity and support economic activity
 "Govt extends PMGSY-III with ₹83,977 crore outlay, approves rail projects")
Cabinet approves 2% dearness allowance hike for central govt employees
The hike raises DA and DR to 60 per cent of basic pay and pension, from the existing 58 per cent, and will be effective from January 1, 2026
 "Cabinet approves 2% dearness allowance hike for central govt employees")
Greek, Indian tankers make U-turn near Hormuz over reopening uncertainty
Greek and Indian tankers had all made their journeys northeast toward Hormuz from waters off Dubai, filled with crude, before they began turning around on Saturday morning
 "Greek, Indian tankers make U-turn near Hormuz over reopening uncertainty")
India spreads LNG supply basket to Africa, barred Russian projects
Importers explore cargoes from Russia and Norway as Qatar supply disruptions and geopolitical tensions force diversification and raise questions over sanctioned LNG sourcing
 "India spreads LNG supply basket to Africa, barred Russian projects")
US extends waiver allowing India, others to buy Russian oil till May 16
The waiver comes despite earlier US reluctance, as war-linked supply disruptions and Strait of Hormuz curbs push oil prices higher and test Western efforts to restrict Russia's revenues
 "US extends waiver allowing India, others to buy Russian oil till May 16")
Higher wages fail to move the needle for workers amid rising living costs
Rising living expenses, fear of contract hiring cast shadow on real gains
 "Higher wages fail to move the needle for workers amid rising living costs")
Indian refiners pay for Iran oil in yuan via ICICI Bank, says report
Indian refiners use yuan via ICICI to settle rare Iranian oil purchases under US waiver, as sanctions and payment hurdles complicate trade
 "Indian refiners pay for Iran oil in yuan via ICICI Bank, says report")
West Asia crisis: More destinations added to RELIEF scheme for exporters
Govt expands RELIEF scheme to Egypt, Jordan, tweaks export norms to aid firms hit by West Asia disruptions and improve DGFT approvals
 "West Asia crisis: More destinations added to RELIEF scheme for exporters")
Govt belatedly lists major banks authorised to import gold and silver
List of 17 banks valid until March 2029; delay briefly disrupted bullion mkt
 "Govt belatedly lists major banks authorised to import gold and silver")
PNGRB says LPG pipeline expansion plan to attract ₹12,500 crore investment
Regulator invites bids for LPG pipeline projects to reduce bulk road transport, improve efficiency and support cleaner energy distribution
 "PNGRB says LPG pipeline expansion plan to attract ₹12,500 crore investment")
India's projects economy is going digital, and that changes everything
As India enters a massive infrastructure build-out phase, digital tools, startups and data-driven systems are transforming project execution, improving efficiency and reshaping the construction ecosys
 "India's projects economy is going digital, and that changes everything")
Gold imports rise 24% to hit all-time high of $71.98 billion in 2025-26
Gold imports stood at $58 billion in 2024-25. It was $45.54 billion in 2023-24 and $35 billion in 2022-23
 "Gold imports rise 24% to hit all-time high of $71.98 billion in 2025-26")
India's forex kitty jumps $3.8 billion to reclaim $700-billion mark
In the previous reporting week ended April 3, the overall reserves had jumped $9.063 billion to $697.121 billion
 "India's forex kitty jumps $3.8 billion to reclaim $700-billion mark")
Govt lists banks allowed to import gold, silver after delay disrupts flows
Authorised by the RBI, the order permits 15 banks, including the State Bank of India, HDFC Bank, and Bank of India, to import both gold and silver from April 1, 2026, to March 31, 2029
 "Govt lists banks allowed to import gold, silver after delay disrupts flows")
Electricity consumption sees slowest growth in years on cooler weather
Energy supplied by state power retailers during the year rose almost 1 per cent, the worst performance since 2021 when electricity use declined due to the pandemic
 "Electricity consumption sees slowest growth in years on cooler weather")
Refiners likely used yuan through ICICI Bank for payment of Iranian oil
Last month, Washington unveiled 30-day waivers on US sanctions for the purchase of Russian and Iranian oil at sea in an attempt to ease prices that were driven up by the US-Israeli war on Iran