Page 2 - Economy

Bank credit growth at near two-year high of 17.65% in May 31 fortnight

Credit growth accelerated sharply in the fortnight ended May 31, while deposit mobilisation remained slower, widening the credit-deposit growth gap to 544 basis points

Datanomics: Major tax receipts rose, but total mopup fell 2% in April

Despite growth in income tax, corporation tax and GST, a sharp fall in IGST and GST compensation cess dragged down April's overall central tax collections

States see slower FY27 start, capex utilisation at 1.85% in April

States made a slow start to FY27, with capital expenditure utilisation falling below 2 per cent in April despite higher budgeted infrastructure spending

World Bank lifts India FY27 growth view to 6.6%, sees strong recovery

The multilateral lender cited resilient domestic demand and stronger export prospects, while warning that higher energy prices could strain government finances

Oil prices could reach $150 if war with Iran heats up again: Rystad Energy

Rystad Energy has warned that renewed hostilities between the US and Iran could drive crude prices sharply higher as supply disruptions deepen across the Gulf region

Centre exempts higher ethanol petrol from excise, rollout subject to tests

The government has extended excise-duty exemption to petrol blended with 22-30 per cent ethanol but said adoption of higher blends will follow extensive testing and stakeholder consultations

India to remain fastest growing economy at 6.6% in FY27, says World Bank

The Bank also cut its estimates for global economic growth to 2.5 per cent due to the West Asia crisis; India seen growing at 6.6 per cent in FY27 and 7.2 per cent in FY28

Goyal to discuss India-EFTA pact implementation issues in Switzerland

During the visit, the minister is scheduled to meet Helene Budliger Artieda, State Secretary for Economic Affairs, and Guy Parmelin, Federal President of Switzerland

JNPA India's top container port in 2025, 22nd globally: World Bank

Container Port Index shows Mundra down 5 ranks, Pipavav best private port in India

India, Nepal launch cross-border remittance mechanism; links UPI, NPI

It would also give an economic boost for local merchants as Nepalese businesses gain immediate access to a massive Indian visitor demographic, driving higher transaction volumes

Indian firms rush to raise $3 bn debt as RBI steps cut borrowing costs

This has pushed corporate borrowing costs lower by 40-45 basis points, per LSEG benchmark 'AAA'-rated corporate bond yields of up to five years, while the spread over government bonds has narrowed

Government exempts higher ethanol-blended petrol from excise duty

The government has granted excise duty exemption on petrol containing 22-30 per cent ethanol, supporting cleaner fuel adoption and the next phase of India's ethanol blending programme

India's GDP growth to slow to 6.6% in FY27 amid global headwinds: BMI

BMI warns of a growth slowdown this fiscal as fading GST reform impact and rising inflation, projected at 5.3% in FY27 amid Strait of Hormuz disruptions, hit domestic consumption

India boosts LNG buying to meet fertiliser, power demand amid supply woes

The buying will help meet requirements from fertilizer producers, which use gas as a feedstock and are ramping up output ahead of the planting season

E-way bill generation post GST rollout fouth-highest in May 2026

The rise in e-way bill generation points to sustained domestic trade activity, stronger supply-chain movement and continued compliance under the GST regime

Cabinet approves ₹2,169 crore Ahmedabad Metro Phase 2A linking airport

Six-kilometre corridor to improve connectivity to Ahmedabad airport, support major sporting events and integrate with rail, bus and bullet train networks

India pushes labour mobility, skill-recognition pacts at Geneva conference

Talks with advanced economies focused on skilled-worker mobility, mutual recognition of qualifications, social protection and employment generation

Govt restores royalty rate on crude oil from nomination blocks to 16.66%

Royalty on crude produced from onland nomination and pre-NELP blocks will again be calculated on a cum-royalty basis, reversing a key May 8 reform

India's long-term consumption story intact despite challenges: KKR

The investment firm says rising incomes, premiumisation and financial deepening continue to support India's long-term growth outlook despite energy and AI-related pressures

RBI forex swap measures may attract $60-70 bn inflows, says Ind-Ra

The slew of measures announced by the RBI to shore up foreign capital inflows includes a concessional forex swap facility to encourage PSUs to raise ECBs until September 30