Page 36 - Economy

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

UP targets three-fold jump in defence investments to ₹1 trillion

Uttar Pradesh aims to triple defence and aerospace investments to nearly ₹1 trillion, strengthening its position as a key manufacturing hub under the UPDIC

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 fourth-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

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