Page 25 - Economy
Russia offers sanctioned LNG to energy-hungry Asia at 40% discount
The effective closure of the Strait of Hormuz - and attacks on the world's largest LNG export plant in Qatar - has throttled about a fifth of global supply, upending the gas market and lifting prices
 "Russia offers sanctioned LNG to energy-hungry Asia at 40% discount")
Tanker carrying 15,400 tonnes of LPG arrives at Navi Mumbai's JNPA
JNPA described the development as notable in the backdrop of the war involving Iran, the United States and Israel
 "Tanker carrying 15,400 tonnes of LPG arrives at Navi Mumbai's JNPA")
81% of SEZ domestic supplies not to get Customs duty relief concession
Most SEZ-to-DTA supplies may miss out on duty relief, with industry flagging limited benefits and lack of clarity in the Centre's one-time concession scheme
 "81% of SEZ domestic supplies not to get Customs duty relief concession")
Rupee likely to stabilise at 92-93 per dollar, says EAC-PM chairman
Rupee may stabilise at 92-93 against the dollar as foreign flows return, says EAC-PM Chairman, citing strong macroeconomic fundamentals and fiscal strength
 "Rupee likely to stabilise at 92-93 per dollar, says EAC-PM chairman")
World Bank raises India FY27 growth forecast to 6.6% amid headwinds
World Bank upgrades India's FY27 growth outlook to 6.6% on strong domestic demand, but flags inflation risks and slowdown due to West Asia conflict
 "World Bank raises India FY27 growth forecast to 6.6% amid headwinds")
India set to receive first Iranian oil cargo in 7 years: Report
State-run Indian Oil Corp purchased the cargo, currently on the Curacao-flagged very large crude carrier Jaya, which is heading to India's east coast and is set to arrive later this week
 "India set to receive first Iranian oil cargo in 7 years: Report")
Foreign Secretary Misri launches India-US trade Facilitation Portal
Misri on Wednesday began his three-day visit to the US to meet with senior officials to review bilateral trade and defence relations and discuss global developments, including the crisis
 "Foreign Secretary Misri launches India-US trade Facilitation Portal")
Remittance slowdown unlikely despite West Asia conflict: RBI DG Gupta
RBI Deputy Governor says remittances to India likely to remain stable as demand for migrant workers may rise despite ongoing conflict in West Asia
 "Remittance slowdown unlikely despite West Asia conflict: RBI DG Gupta")
Indian Oil buys first shipment of Iranian crude since 2019 sanctions
Curacao-flagged crude tanker Jaya, laden with Iranian oil, most recently indicated it is heading for India, according to ship-tracking data
 "Indian Oil buys first shipment of Iranian crude since 2019 sanctions")
Centrally funded infrastructure projects log 17.02% cost jump in February
Cost overruns in centrally funded infrastructure projects rose to 17.02 per cent in February, pushing revised estimates to Rs 42.5 trillion across 1,948 ongoing projects
 "Centrally funded infrastructure projects log 17.02% cost jump in February")
CCEA revises HPCL refinery cost, clears hydro, fertiliser projects
CCEA hikes HPCL refinery cost, clears hydro projects and Kharif fertiliser subsidy in a series of key approvals
 "CCEA revises HPCL refinery cost, clears hydro, fertiliser projects")
Rupee curbs due to excessive speculation, not a structural shift: RBI Guv
Deputy Governor T Rabi Sankar said there was an "artificial drying up" of supply in the market during those days, which led to the measures
 "Rupee curbs due to excessive speculation, not a structural shift: RBI Guv")
RBI's MPC keeps repo rate unchanged at 5.25%, retains neutral stance
The central bank raised its inflation forecast to 4.6 per cent and flagged risks from West Asia tensions, while projecting GDP growth at 6.9 per cent for the current financial year
 "RBI's MPC keeps repo rate unchanged at 5.25%, retains neutral stance")
India's forex reserves sufficient, not a matter of concern: RBI governor
Forex reserves rose to $697.1 billion as of April 3, per the latest data, from $688.06 billion in the previous week
 "India's forex reserves sufficient, not a matter of concern: RBI governor")
RBI signals liquidity range to retain overnight rates closer to policy rate
RBI maintained that the weighted average call rate (WACR) is its operative rate, and it aims to keep it as close to the policy repo rate as possible
 "RBI signals liquidity range to retain overnight rates closer to policy rate")
India set to recieve first Iranian oil cargo in 7 years, shows data
Refiners have purchased Iranian oil amid the West Asia conflict that has disrupted supplies through the Strait of Hormuz
 "India set to recieve first Iranian oil cargo in 7 years, shows data")
RBI sees resilience despite West Asia crisis as it keeps repo rates steady
RBI Governor Sanjay Malhotra said the West Asia conflict has raised risks to growth and inflation via oil, trade, and supply chains, but government steps on supply chains and exports may limit the imp
 "RBI sees resilience despite West Asia crisis as it keeps repo rates steady")
West Asia conflict: How ongoing war casts a shadow on Pune's shop floors
The West Asia conflict exposes fragile supply chains, rattling labour, fuel access, and MSME stability across Maharashtra
 "West Asia conflict: How ongoing war casts a shadow on Pune's shop floors")
Multi-pronged strategy in works to tide over West Asia war impact
This may include a ₹2.5 trillion credit guarantee scheme to help businesses
 "Multi-pronged strategy in works to tide over West Asia war impact")
West Asia war: Indian refiners turn to Venezuela, Russia for oil supply
India has also ramped up oil purchases from alternate sources such as Nigeria and Angola
 "West Asia war: Indian refiners turn to Venezuela, Russia for oil supply")