Page 9 - Economy & Policy News

Oil companies' production decline rate superior to global average: Minister

Puri said domestic production of crude oil from offshore and onshore fields stood at 27.96 million tonnes (MT) last financial year (2025-26), against 28.70 MT in 2024-25 and 29.36 MT in 2023-24

Centre's net direct tax collection surges 23% to ₹8.11 trillion till Aug 10

Direct tax revenue collection so far this year has grown faster than the 15.25 per cent growth needed to achieve the full year target this year, compared to last fiscal's actual collection

Tighter energy norms to cut profitability of urea makers by a qtr: Crisil

Crisil said impact will not be uniform, as it will be sharper for manufacturers with greater dependence on legacy urea ops and for plants that benefited most from earlier efficiency-linked savings

Bihar tops states' fiscal strain with 5.8% fiscal deficit, says Crisil

Deficits stayed particularly high in Madhya Pradesh, Tamil Nadu, Uttar Pradesh and Telangana, apart from Bihar, according to the study

Karnataka, J&K lead govt plan for 19 additional national waterways

Five waterways have been identified in Karnataka and three in Jammu & Kashmir as the government seeks to expand environmentally sustainable cargo and passenger transport

India's Q1 FY27 GDP growth projected at 8%, says SBI Research report

SBI's nowcasting model showed 86 per cent of 54 high-frequency indicators accelerating in Q1FY27, while government capital expenditure remained supportive in the quarter

India 6th-largest economy in world with $3.92 trn GDP: Govt tells Parl

India's nominal GDP stood at $3.92 trillion in 2025-26, according to the IMF's April 2026 World Economic Outlook, MoS Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha

India growth seen slowing to 6.6% in FY27, says Fitch Group company BMI

The Indian economy grew 7.7 per cent in financial year 2025-26

India's US crude imports head for lowest level since Dec 2024: Here's why

India's US crude imports may fall to around 75,000 bpd in August, near 70,000 bpd in December 2024; imports had peaked at about 565,000 bpd in October 2025

Kerala, Odisha among states releasing lowest share of MPLADS funds

Kerala released just 36.6 per cent of its MPLADS allocation to vendors, while Maharashtra and Uttar Pradesh recorded the largest gaps when measured in absolute rupees

MDR in future only on some merchant UPI transactions: FM Sitharaman

"No MDR framework has yet been finalised," Sitharaman said. She added that consumers would continue to make instant digital payments through UPI without paying a transaction charge

Parliament passes Bill to recognise digital bank records as evidence

The legislation replaces the colonial-era Bankers' Book Evidence Act of 1891 and provides explicit legal recognition to electronic and digital banking records

Datanomics: West Asia conflict and India's petroleum trade diversification

India's development ambitions will depend not on promises alone, but on sustained reforms, better-designed welfare, inclusive products, capable leadership and accountability

Women account for less than a third of PM-VBRY first-time employees

Of the 9.99 million first-time employees enrolled under PM-VBRY, 2.85 million were women and 7.14 million were men, according to data presented in the Lok Sabha

Railways readies ₹1.8 trn PPP pipeline, eyes private role in track creation

The Ministry of Railways has lined up 54 projects worth ₹1.8 trillion for private participation and added two new PPP models, including the Hybrid Annuity Model

E-way bill generation rises 5.98% to second-highest level in July 2026

E-way bill generation rose to 139.79 million in July from 131.91 million a year earlier, indicating sustained movement of goods and resilience in domestic trade

India has sufficient food stocks despite El Nino, West Asia crisis: Chouhan

India's foodgrain stocks topped 92 million tonnes as of July 1, with Agriculture Minister Shivraj Singh Chouhan saying reserves are sufficient to meet domestic demand and support exports

Panel asks Mospi to examine feasibility of statutory status for NSC again

The panel said Mospi had not provided a convincing justification for not examining statutory status for the NSC and stressed the need for statutory backing

CAG report 2024-25 signals decline in Delhi's contribution to national GDP

The economic growth and gross state domestic product of Delhi showed a "healthy trend" in 2024-25. The GSDP at Rs 12.15 lakh crore registered a growth of 9.17 per cent over the previous financial year

Govt's debt-to-GDP ratio at 58.2% in FY26, 210 bps above target of 56.1%

The government will have to cut its debt-to-GDP ratio by 260 basis points in the current financial year to meet the Budget Estimate of 55.6 per cent for FY27