Page 6 - Economy & Policy News

India, Oman likely to discuss early FTA implementation on May 11

The agreement will provide duty-free access to 98 per cent of India's exports, including textiles, agri, and leather goods in Oman

Economist Ashok Lahiri takes charge as NITI Aayog vice-chairperson

Former chief economic adviser Ashok Lahiri assumed charge as NITI Aayog vice-chairperson amid a major overhaul of the government policy think tank

Chronology of US tariffs and penalties on Indian goods since April 2025

Following is a chronology of the additional or reciprocal tariffs imposed by the US on Indian goods, over and above the existing duties, since April 2025

Global food prices hit 3-year high as Iran war disrupts supply chains

United Nations' index of food-commodity prices gained 1.6 per cent in April, led by higher vegetable oil, meat and cereal prices

Court setbacks to Trump tariffs may delay BTA talks with India: Experts

Experts said this ruling is a crucial reminder that Trump's global tariffs violated WTO rules, and their striking down by US courts is a positive signal for multilateral trade norms

India's April consumer inflation likely rose to 3.8% on higher fuel costs

Indian companies raised prices of LPG, widely used as a cooking fuel in households, in March after the West Asia conflict disrupted energy supplies, an effect economists said likely carried into April

Rupee depreciates 45 paise to 94.67 against US dollar in early trade

At the interbank foreign exchange market, the rupee opened at 94.58 against the US dollar, then lost momentum and touched 94.67 against the American currency

Asia's heat waves spell double trouble for economies hit by oil price shock

Inflation accelerated to multiyear highs across much of Asia, latest figures showed, led by higher transport, logistics and utility costs

GSTAT braces for rush in appeals ahead of June 30 filing deadline

Finance Ministry officials expect a surge in GSTAT appeal filings before the June 30 deadline as taxpayers defer cases over pre-deposit concerns

NSO resets GSVA base year to 2022-23, seeks all-state and UTs adoption

The revised GSVA framework with 2022-23 as base year aims to improve accuracy, comparability and coverage of state-level economic estimates

Haryana leads in informal jobs growth; Gujarat sees contraction

Haryana emerged as a leader in employment, scale, and productivity in the informal economy, while Gujarat saw declines across all three indicators

Rupee gains for second day as crude prices fall below $100 per barrel

The rupee strengthened against the dollar for a second straight session as easing crude oil prices and optimism over US-Iran talks supported sentiment

India-EU FTA likely to come into force in 2027, says EU ambassador

India-EU FTA may take effect in 2027 as both sides complete legal scrutiny, with focus shifting to implementation, trade barriers and investment rules

Limited tariff hikes, rising power costs to keep discom cash gap high: ICRA

ICRA said discoms' cash gap is likely to remain elevated in FY27 as muted tariff hikes and higher power purchase costs strain finances

Bengal workers to get ESIC coverage after Labour Codes rollout: Mandaviya

Labour Minister Mansukh Mandaviya said workers in West Bengal will gain access to expanded ESIC social security benefits once the Labour Codes are implemented

PMEGP scheme creates 3.6 mn jobs, boosts micro-enterprises: MSME ministry

The MSME ministry said PMEGP created 3.6 million jobs and helped set up over 400,000 micro-enterprises during the 15th Finance Commission period, with strong focus on rural areas

Govt reopens narrow FDI door to China-linked funds: How it impacts startups

The revised Press Note 3 framework may speed up startup deals by allowing limited China-linked exposure through the automatic FDI route, while keeping direct Chinese investment under approval

Odisha pitches east coast-led growth as India's next economic engine

Odisha Chief Minister Mohan Charan Majhi urged industries to back east coast-led growth, positioning the state as a future manufacturing and logistics hub

India, Japan boost tech ties with pacts on medical devices, quantum science

Minister Jitendra Singh said India and Japan share 'natural synergy in science and tech', noting that Japan's advanced capabilities and India's talent pool create strong potential for joint innovation

India needs energy storage policy to manage supply shocks: S&P Global

S&P Global said India requires a comprehensive energy storage policy to tackle supply disruptions amid high dependence on crude oil, LNG and LPG imports