Page 17 - Economy & Policy News

Govt cuts import duties on palm, soya and sunflower oils to curb prices

The government has cut import duties on crude palm and soya oils to 5 per cent and crude sunflower oil to zero, with lower rates on refined oils taking effect on September 24

Industry seeks ITC use for reverse-charge GST ahead of Oct 7 Council meet

Businesses want the GST Council to allow accumulated input tax credit to pay reverse-charge liabilities, saying the cash-payment requirement blocks working capital

US LPG supplies to India crash on UAE inroads, premiums near record

US share of India's LPG imports has fallen to 16% in September as UAE supplies surge, while delivered LPG premiums have rebounded to nearly $450 per tonne

After Moody's, S&P, Fitch, others raise FY27 India GDP growth projections

According to Fitch, India's economic momentum is likely to moderate over the remaining fiscal year, prompting the Reserve Bank of India (RBI) to increase interest rates by 0.25 per cent

OECD raises India's GDP growth forecast to 7.1% citing resilient demand

OECD said structural policy reforms that enhance the ability of economies to cope with supply side disruptions are also a key priority for governments at the current juncture

OMCs face ₹530 crore daily fuel losses as crude prices surge: Icra

Crude oil prices have risen sharply in recent weeks amid escalating geopolitical tensions and supply disruptions in West Asia

RBI absorbs ₹75,026 cr via overnight VRRR auction amid surplus liquidity

The RBI has been conducting various VRRR auctions since last month to absorb excess liquidity from the banking system and align overnight money market rates to the repo rate

ADB raises India FY27 growth forecast to 7%, cuts FY28 estimate to 7.1%

ADB raised India's FY27 growth forecast to 7 per cent from 6.6 per cent on strong investment and services exports, while cutting its FY28 estimate to 7.1 per cent from 7.3 per cent

ADB raises India's FY27 GDP growth forecast to 7% on strong Q1 growth

The ADB's latest projection marks an upward revision of 0.4 percentage points from its July forecast of 6.6 per cent for FY2027

India flash PMI rises to 56.5 in September as manufacturing strengthens

India's private sector growth strengthened in September, with the HSBC Flash Composite PMI rising to 56.5 from 54.3 in August, led by manufacturing

S&P raises India FY27 GDP growth forecast to 7%, sees 25 bps RBI rate hike

In its Economic Activity for Asia Pacific report, S&P estimates consumer inflation to average 5.1 per cent in FY27

Govt job portal vacancies plunge 62% in June, fall to 30-month low

Current vacancies on the National Career Service portal fell to 196,773 in June from 517,431 in May, even as the number of active employers more than doubled

Need for dialogue to ensure reliable energy supplies: Hardeep Singh Puri

Oil Minister Hardeep Singh Puri said sustained dialogue between producers and consumers was essential to support investment, energy resilience and reliable supplies

FM Nirmala Sitharaman for dialogue over litigation in business disputes

Finance Minister Nirmala Sitharaman called for greater trust and transparency, saying businesses should engage early with the government and regulators to resolve differences

Real income growth expected only in India, South East Asia: WEF survey

Most of the 36 participating economists expected inflation-adjusted incomes to fall or stagnate in nearly every geography with India and South-East Asia being the notable exceptions

Next consumption spurt hinges on wage growth: FM Nirmala Sitharaman

The next phase of consumption will be driven by upward mobility into brackets where discretionary spending accelerates, said Finance Minister Nirmala Sitharaman

Rupee extends gains for fifth straight session tracking fall in crude oil

The rupee settled at 95.59 per dollar as falling crude prices and likely dollar sales by state-run banks supported the currency; the 10-year bond yield fell 4 bps

Milk prices might stay elevated during upcoming flush season, say experts

Lower milk output due to uneven rains, higher feed and fodder costs, and strong festive demand could keep prices elevated during the flush season

Datanomics: 9 of 584 districts had double-digit unemployment rate in 2025

As many as 1.5% of the total 584 districts had a rate exactly at 3.1%. Papum Pare in Andhra Pradesh had the highest UR at 16.1 per cent.

From GDP to inflation: How US-Iran conflict is affecting major economies

The US-Iran conflict has pushed up oil prices, disrupted trade and raised inflation risks, but its economic impact varies across major economies