Page 3 - Economy

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

India-US energy ties can help achieve $500 bn trade goal by 2030: Report

A USIBC-Grant Thornton Bharat report highlights opportunities across LNG, crude oil and petrochemicals to deepen trade, investment and energy security ties

Outward FDI commitments by Indian firms drop 49% in May: RBI data

Equity investments abroad dropped sharply to $1,247.82 million in May from $3,537.35 million in April, marking a decline of about 64.72 per cent

India 'bright spot' in global economy despite uncertainties: Chandrasekaran

Chandrasekaran said the world today is being reshaped by geopolitical shifts, supply chain disruptions and realignments, energy transition and rapid advancements in Artificial Intelligence

PM Modi to chair 11th Governing Council meeting of NITI Aayog on Thursday

The governing council will also focus on the recommendations of the 5th National Conference of Chief Secretaries held during December 26-28, 2025

Fertiliser subsidy bill likely to double to ₹3.4 trillion in FY27

Rising global fertiliser prices and support extended to oil retailers are squeezing fiscal space, though the government says its capital expenditure plans remain unchanged

Cotton price relief from duty cut may prove short-lived, traders warn

While cotton and yarn prices have eased after the import duty cut, traders caution that global price risks, El Nino concerns and the October import window could limit the benefits

Heatwaves, urbanisation drive record power demand, reshape energy planning

A record peak demand of 271 GW in May underscores the growing impact of heatwaves, urbanisation and electrification, while raising fresh questions about grid resilience and energy planning

Centre announces ₹95,692 crore interim allocation under VB-G RAM G

The interim allocation comes ahead of the formal launch of VB-G RAM G on July 1, 2026, across the country

Govt considering extending duty relief on petrochemical imports beyond June

The exemption, announced earlier this year, covers 40 petrochemical products used for making plastics and pharmaceuticals and is currently valid through June 30

GDP growth momentum intact, no immediate need for borrowing: Govt officials

Once the data of the April-June quarter and the impact of El Nino on the monsoon is available, the government will reassess the macroeconomic data in July

Royalty rate cuts aim to reduce costs, boost oil and gas exploration

While lower royalties are expected to improve project viability and attract investment, concerns remain over poor prospectivity data, limited discoveries, and competition from more attractive regions

Rupee gains as oil retreat soothes, inflow expectations erode weak bias

The rupee gained 0.4% against the dollar as lower crude prices and RBI measures to boost foreign-currency inflows eased concerns over India's external balances

Can India's cotton import-duty waiver offset growing US tariff concerns?

India's cotton import-duty waiver may lower raw material costs for textile exporters, but uncertainty over proposed US tariffs could limit gains and weigh on competitiveness in a key market

Chhattisgarh cabinet okays power utility IPO, Rs 15,000/acre crop-shift aid

Several decisions were taken at a cabinet meeting chaired by Chief Minister Vishnu Deo Sai at Mahanadi Mantralaya Bhawan in Nava Raipur Atal Nagar

Gold smuggling may top 100 tonnes as higher import duties bite: Report

At current prices, 100 ‌tons of gold would be worth about $14.35 billion, implying roughly $2.65 billion in lost tariffs and sales tax

Utilisation of FTA benefits low in India; compliance cost is a hurdle: GTRI

It also said that FTAs have made the inverted duty structure issue harder to fix because many finished goods now enter India at low or zero duty from Asean, Japan, South Korea, UAE and Australia

Fitch cuts India's FY27 GDP forecast to 6.4%, warns of US-Iran war impact

Rating agency said the slowdown in the economy will be most apparent in the second and third quarter of FY27, as rising prices due to the US-Iran war erode real incomes and dampen consumer spending