Page 139 - Economy
US doubles tariff on India to 50% over Russian crude oil purchases
'Unfair, unjustified, unreasonable', says MEA; new rates from August 28
 "US doubles tariff on India to 50% over Russian crude oil purchases")
RBI panel for retaining WACR as operating target of monetary policy
The group was set up to the existing review of the Liquidity Management Framework which is in place since February 2020
 "RBI panel for retaining WACR as operating target of monetary policy")
India refiners wait for govt order on Russian oil purchases: Report
US President Donald Trump has criticised India's Russian oil purchases, arguing they help fund Moscow's war in Ukraine
 "India refiners wait for govt order on Russian oil purchases: Report")
Textile industry seeks export incentive to minimise US tariff impact
The US is India's largest market for textile and apparel exports, and had clocked around $4.59 billion worth of exports during the January to May 2025 period
 "Textile industry seeks export incentive to minimise US tariff impact")
India's mobile tariffs unfair, rich pay less than poor, says Airtel MD
A customer needs to pay ₹199 for a month-long connection which comes with unlimited local, STD, roaming calls and a 2GB data limit
 "India's mobile tariffs unfair, rich pay less than poor, says Airtel MD")
Trump hits India with 50% tariff: Tharoor slams US, experts warn of GDP hit
After US President Trump announced an extra 25% tariff on Indian goods over Russian oil imports, Congress leader Shashi Tharoor called it a 'double standard', while economists warned of a hit to India
 "Trump hits India with 50% tariff: Tharoor slams US, experts warn of GDP hit")
Trump imposes additional 25% tariff on India for purchasing Russian oil
US President Donald Trump has imposed an additional 25% tariff on Indian goods, citing India's continued import of Russian oil, effective August 27
 "Trump imposes additional 25% tariff on India for purchasing Russian oil")
Oil and pressure: How India became Russia's oil lifeline after Ukraine war
India's growing reliance on discounted Russian crude has reshaped its import basket, pushing out traditional West Asian suppliers and raising questions about how easily the country could pivot
 "Oil and pressure: How India became Russia's oil lifeline after Ukraine war")
No asset quality worries in MFIs or unsecured loans, says RBI Governor
The Reserve Bank does not have any concern on asset quality from unsecured loans perspective, including microfinance (MFI), Governor Sanjay Malhotra said on Wednesday.
 "No asset quality worries in MFIs or unsecured loans, says RBI Governor")
Govt proposes 2022-23 as new base year for GDP and IIP: Minister
For the CPI, list of items and their respective weights derived from the Household Consumption Expenditure Survey of 2023-24 is used in the revised index
 "Govt proposes 2022-23 as new base year for GDP and IIP: Minister")
US tariffs to have 'negligible' impact on India's GDP, exports: Study
The tariffs announced by the US are likely to come into effect on August 7, 2025
 "US tariffs to have 'negligible' impact on India's GDP, exports: Study")
India's forex reserves fall $9 billion to $689 bn reflecting rupee defence
The rupee slid 1.18 per cent against the dollar in the week through August 1, marking its sharpest weekly decline in nearly three years
 "India's forex reserves fall $9 billion to $689 bn reflecting rupee defence")
Missed signals, rising tensions: How India-US trade talks fell apart
New Delhi is now left with the surprise imposition of a 25 per cent tariff on Indian goods from Friday, along with unspecified penalties over oil imports from Russia
 "Missed signals, rising tensions: How India-US trade talks fell apart")
'Lack of data': RBI keeps GDP forecast unchanged despite Trump's 25% tariff
RBI Governor Sanjay Malhotra says global uncertainties were already factored in previous growth forecasts and that RBI will continue to monitor macro conditions before revising projections
 "'Lack of data': RBI keeps GDP forecast unchanged despite Trump's 25% tariff")
RBI lowers inflation forecast to 3.1% for FY26; growth outlook unchanged
August MPC: RBI cuts FY26 inflation forecast to 3.1% on easing food prices, favourable monsoon; growth outlook steady at 6.5%, CRR cut to begin in September
 "RBI lowers inflation forecast to 3.1% for FY26; growth outlook unchanged")
Only nominated firms to mine offshore uranium, thorium under new norms
The new rules notified under the Offshore Areas Mineral (Development and Regulation) Act, 2002, are aimed at unlocking India's offshore atomic mineral potential
 "Only nominated firms to mine offshore uranium, thorium under new norms")
India's services growth at 11-month high in July amid rise in exports
Services PMI at 60.5, was 60.4 in June
 "India's services growth at 11-month high in July amid rise in exports")
Datanomics: US sermonises India, ignoring its own vital imports from Russia
While the US has cut down on goods import from Russia sharply, from $29.63 bn in 2021 -- when it attacked Ukraine -- to just $3 billion in 2024, it has ramped up exports of some other crucial items
 "Datanomics: US sermonises India, ignoring its own vital imports from Russia")
Russia oil import: India's August pipeline strong despite US, EU heat
Private-sector refiners account for around half the imports in Aug
 "Russia oil import: India's August pipeline strong despite US, EU heat")
No proposal to exempt MPLAD funds from GST: Govt to Parliamentary panel
MoSPI tells House panel no GST exemption is planned for MPLADS use, even as the panel seeks relief to improve fund utility and suggests increasing annual allocation
 "No proposal to exempt MPLAD funds from GST: Govt to Parliamentary panel")