Economy & Policy News

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.

India's trade deficit eases to 5-month low in Aug on robust export growth

Goods exports rose 26 per cent year-on-year to $43.81 billion in August, outpacing the 14 per cent rise in imports to $70.67 billion

India's rising market power reshapes global debate over its trade policies

As India's economic weight and import demand rise, WTO members are increasingly scrutinising how its tariffs, export curbs, QCOs and domestic regulations affect global markets

Rupee falls 0.42% to 95.96, posts sharpest decline since July 14

The domestic currency extended its losing streak to five sessions as rising crude oil prices, global bond yields and strong dollar demand weighed on the rupee

Faster, heavier, double-stacked: How two DFCs are transforming rail freight

The Eastern and Western DFCs now carry around 14 per cent of rail freight despite forming just 4 per cent of the network, cutting transit times and freeing capacity

India's current account deficit more than doubles to $7 billion in July

The merchandise trade deficit widened to $31.7 billion in July, while strong capital inflows helped push the balance of payments surplus to $20.8 billion.