Economy & Policy News
Super-rich tax may address inequality, says former CEA Kaushik Basu
Kaushik Basu says progressive taxation on very high incomes can reduce inequality without weakening enterprise, while experts stress restoring trust through jobs and welfare systems
 "Super-rich tax may address inequality, says former CEA Kaushik Basu")
West Asia conflict: Stranded vessels running out of fresh water, food
DG Shipping warns of supply shortages on stranded vessels, rising freight and insurance costs, and potential disruptions to India's trade and energy security
 "West Asia conflict: Stranded vessels running out of fresh water, food")
New I-T rules notified; new Act to ease compliance, cut litigation, says FM
New rules expand HRA benefits to more cities, clarify EV taxation, tighten reporting norms and streamline transfer pricing and foreign tax credit processes
 "New I-T rules notified; new Act to ease compliance, cut litigation, says FM")
How distorted West Asia crude pricing hurts India as war lifts import costs
System adds hundreds of millions of dollars to India's fuel import bill; ministry aware
 "How distorted West Asia crude pricing hurts India as war lifts import costs")
New I-T Act to ease compliance for small taxpayers: FM Nirmala Sitharaman
Finance Minister says expanded presumptive taxation and simplified provisions under the new law will reduce compliance burden and litigation for small businesses and professionals
 "New I-T Act to ease compliance for small taxpayers: FM Nirmala Sitharaman")
India's forex reserves fall $7 billion to $709.76 billion, shows RBI data
India's forex reserves dropped USD 7.052 billion to USD 709.759 billion during the week ended March 13, the RBI said on Friday.
 "India's forex reserves fall $7 billion to $709.76 billion, shows RBI data")
Iran conflict threatens fresh food-price surge across developing world
Developing countries were gaining after pandemic and Ukraine shocks, but the Iran conflict now threatens food, fuel and finance gains and could leave households struggling
 "Iran conflict threatens fresh food-price surge across developing world")
Oil surges to $108 per barrel amid West Asia war; India denounces strikes
To secure supplies, 13 tankers carrying around 3.5 lakh tonnes of LPG are currently headed from the US to India
 "Oil surges to $108 per barrel amid West Asia war; India denounces strikes")
India-UK FTA likely to be implemented by early May; EU by year-end
According to officials, the EU has indicated November as the timeline for the ratification of the trade pact with India, and its implementation is expected this year
 "India-UK FTA likely to be implemented by early May; EU by year-end")
Fertiliser stocks enough for kharif season; govt reaches out to nations
Warns against needless speculation
 "Fertiliser stocks enough for kharif season; govt reaches out to nations")
₹10,000 crore container scheme under appraisal: Sarbananda Sonowal
Government's Rs 10,000 crore container manufacturing scheme is under appraisal, aiming to boost domestic capacity, cut import dependence and strengthen supply chains
 "₹10,000 crore container scheme under appraisal: Sarbananda Sonowal")
WTO reforms, e-commerce, investment facilitation to dominate MC14 talks
WTO's MC14 will see discussions on reforms, e-commerce rules, fisheries subsidies and public stockholding, with India expected to push for policy space and clarity
 "WTO reforms, e-commerce, investment facilitation to dominate MC14 talks")
Domestic consumption priority, may review fuel exports plan: Govt
India may curb fuel exports to secure domestic supply as West Asia conflict disrupts energy flows and triggers LPG shortages
 "Domestic consumption priority, may review fuel exports plan: Govt")
Labour ministry taps influencers to promote pension scheme for workers
Labour ministry invites digital influencers to promote PM-SYM pension scheme, aiming to boost awareness and expand social security coverage among informal workers
 "Labour ministry taps influencers to promote pension scheme for workers")
No gain from India-EU FTA as plug-in hybrids not included: Lamborghini CEO
Last year Lamborghini closed again with over 100 cars in India, he said, adding, our forecast is to, so far with the knowledge I have today, have a stable situation in the Indian market
 "No gain from India-EU FTA as plug-in hybrids not included: Lamborghini CEO")
Tamil Nadu surpasses Gujarat, Maharashtra to become top textile exporter
The state has witnessed a 29 per cent increase in export value in the last four years, an official release said
 "Tamil Nadu surpasses Gujarat, Maharashtra to become top textile exporter")
US national debt surges past $39 trillion just weeks into war with Iran
Federal debt has surged under both Republican and Democratic presidents, most recently fueled by wars, large-scale pandemic spending and tax cuts
 "US national debt surges past $39 trillion just weeks into war with Iran")
Indian cities need governance, planning and finance reforms: Rajiv Gauba
India must overhaul urban governance, planning, and finance to support rapid urbanisation and achieve Viksit Bharat by 2047, says NITI Aayog's Rajiv Gauba
 "Indian cities need governance, planning and finance reforms: Rajiv Gauba")
FY26 advance tax collection up 6.42% at ₹11.13 trn, shows I-T data
Net direct tax collection for FY26 as of March 17 grew 7.19 per cent to ₹22.80 trillion, driven by higher corporate and non-corporate taxes
 "FY26 advance tax collection up 6.42% at ₹11.13 trn, shows I-T data")
Over 1.7 million tonnes of India's oil, LNG, LPG stuck in Strait of Hormuz
There are now 3 vessels on the east side after one more Indian-flagged ship joined them