Page 15 - Economy
Rupee weakens to record closing low, approaches 96 against the dollar
Persistent importer demand, elevated crude oil prices and West Asia tensions pushed the rupee to a record closing low despite RBI intervention
 "Rupee weakens to record closing low, approaches 96 against the dollar")
Customs duty hike may divert gold, silver imports to UAE FTA route
Widening tariff gap under India-UAE CEPA could encourage higher bullion imports through Dubai amid concerns over arbitrage opportunities
 "Customs duty hike may divert gold, silver imports to UAE FTA route")
After PM Modi's call, ministers, NDA chief ministers cut convoy size
Government says Prime Minister Narendra Modi's appeal focuses on prudent fuel use and reducing import dependence, not fiscal tightening or spending cuts
 "After PM Modi's call, ministers, NDA chief ministers cut convoy size")
Oil shocks hit wholesale inflation harder than retail prices: BoB study
Bank of Baroda study says crude oil price shocks have a stronger impact on wholesale inflation than consumer prices, with delayed effects on growth
 "Oil shocks hit wholesale inflation harder than retail prices: BoB study")
RBI relaxes approval norms for banks' outward remittance tie-ups
Authorised Dealer banks can now partner with digital remittance platforms without prior RBI approval, subject to compliance safeguards
 "RBI relaxes approval norms for banks' outward remittance tie-ups")
Shipping insurance costs likely to fall 25% with Bharat Maritime Pool
Industry expects sovereign-backed maritime insurance pool to reduce war-risk premiums and improve trade certainty amid geopolitical disruptions
 "Shipping insurance costs likely to fall 25% with Bharat Maritime Pool")
Plan to upgrade rail network to 220 kmph, says railways minister Vaishnaw
Railways minister says Ahmedabad-Dholera corridor will serve as a model for future semi-high-speed rail projects across India
 "Plan to upgrade rail network to 220 kmph, says railways minister Vaishnaw")
RBI eases rules for outward remittances; drops prior approval for non-banks
The central bank has issued an operating framework for facilitating outward remittance services by non-bank entities through Authorised Dealer (Category I) banks in India
RBI announces switch auction for Rs 30,000 crore government bonds
RBI said the switch operation will help the government spread redemption liabilities and reduce rollover risks by replacing short-term securities with longer-tenor bonds
 "RBI announces switch auction for Rs 30,000 crore government bonds")
Can a 15% gold duty fix India's trade deficit? The math is not simple
India may need a steep fall in gold imports to ease its trade deficit, but high prices, investment demand and smuggling risks complicate the duty hike's impact
 "Can a 15% gold duty fix India's trade deficit? The math is not simple")
Govt approves ₹37,500 crore plan to boost domestic coal gasification
The scheme is expected to strengthen energy security and reduce dependence on imports of products such as LNG, urea, ammonia and methanol
 "Govt approves ₹37,500 crore plan to boost domestic coal gasification")
Gold imports from Dubai may increase after import duty hike: GTRI
India had allowed imports of gold from Dubai at tariffs one percentage point below the normal Most-Favoured-Nation (MFN) rate through a Tariff Rate Quota (TRQ) system
 "Gold imports from Dubai may increase after import duty hike: GTRI")
Cash-transfer promises rise, but can states afford the welfare bill?
As cash-transfer politics becomes embedded in elections, the bigger challenge for states may lie not in announcing welfare promises, but in sustaining them fiscally
 "Cash-transfer promises rise, but can states afford the welfare bill?")
India's vegetable oil imports jump 13% in H1 2025-26 on palm oil surge
The world's largest cooking oil consumer imported 7.04 million tonnes in the same period a year earlier
 "India's vegetable oil imports jump 13% in H1 2025-26 on palm oil surge")
OMCs bleed ₹30,000 crore a month: How long can India hold down fuel prices?
India is shielding consumers from rising global oil prices, but OMC losses are surging. How long can fuel prices stay frozen before fiscal pressure forces tough decisions?
 "OMCs bleed ₹30,000 crore a month: How long can India hold down fuel prices?")
Fuel prices may rise if West Asia war drags on: RBI Guv Sanjay Malhotra
His remarks came after Prime Minister Narendra Modi urged voluntary austerity, including cutting down on petrol and diesel use and putting off gold purchases, to preserve foreign exchange reserves
 "Fuel prices may rise if West Asia war drags on: RBI Guv Sanjay Malhotra")
India raises import duties on gold: A timeline of hikes, cuts and comebacks
India raises gold, silver and platinum import duties to curb overseas demand, ease pressure on forex reserves and narrow current account deficit amid global uncertainty
India has 60 days of crude, LNG, 45 days of LPG, no supply issues: Puri
Speaking at the CII Annual Summit, Union Minister Hardeep Singh Puri said India's oil companies are losing ₹1,000 crore every day and the under recovery is going to be ₹1,98,000 crore
 "India has 60 days of crude, LNG, 45 days of LPG, no supply issues: Puri")
India set for record DAP import in single tender amid supply fears
The purchases, equivalent to about a quarter of India's annual DAP imports, are likely to tighten global supplies and support prices
 "India set for record DAP import in single tender amid supply fears")
Govt raises import tariffs on gold, silver to 15% to curb imports
The higher duties could dampen demand in the world's second-largest consumer of precious metals, although they may help narrow India's trade deficit and support the rupee
 "Govt raises import tariffs on gold, silver to 15% to curb imports")