Page 23 - Indian Economy

India's Apr-Aug fiscal deficit widens to ₹5.98 tn, 38.1% of FY26 target

Net tax receipts stood at ₹8.1 trillion, down from ₹8.7 trillion in the same period last year, while non-tax revenue rose to ₹4.4 trillion from ₹3.3 trillion a year ago

Indian economy to grow at 6.5% in FY26, US tariffs to weigh on exports: ADB

Despite a strong 7.8 per cent growth in the first quarter, the Indian economy is expected to grow at 6.5 per cent in the current financial year as the impact of US tariffs on Indian exports will reduce prospects, particularly in the second half, ADB said on Tuesday. It is to be noted that the Asian Development Outlook (ADO) of the Asian Development Bank (ADB), released in April, had projected a higher growth rate of 7 per cent, which was lowered to 6.5 per cent in the July report on concern of a steep 50 per cent US tariffs on shipment from India. While GDP grew strongly in the first quarter (Q1) of FY26 at 7.8 per cent on improved consumption and government spending, additional US tariffs on Indian exports will reduce growth, particularly in the second half of FY26 and in FY27, though resilient domestic demand and service exports will cushion the impact, ADO September 2025 said. The reduction in exports will impact India's GDP in both FY26 and FY27 as the tariffs are implemented. A

Govt to install solar pumps in Jaipur district farms to boost power supply

Chief Minister Bhajan Lal Sharma has pledged to provide electricity to the state's farmers during the day for agricultural work by 2027

India gears up to embrace carbon market plans to counter climate criticism

Emissions targets have been announced till 2027, and a new set of targets and sectors will be finalised in FY27 for the FY28-30 period

India-EFTA agreement set to be launched on October 1 after long wait

India's first European trade deal ensures $100 bn investment, tariff cuts, and potential for 1 million jobs over 15 years

US tariffs on Indian goods pose major growth risks: Crisil Intelligence

High tariffs imposed by the United States on Indian goods pose a major risk to the country's growth, Crisil Intelligence said in its September report. The tariffs will impact both Indian goods exports and investments, the report added. However, domestic consumption, driven by benign inflation and rate cuts, is expected to support growth, it said. The country's GDP rose to a five-quarter high of 7.8 per cent in the first quarter of fiscal 2025-26, up from 7.4 per cent in the similar quarter in the previous year. Nominal GDP growth, however, slowed to 8.8 per cent from 10.8 per cent during the same period, it added. The report said consumer price index (CPI) inflation is likely to soften to 3.5 per cent in the current fiscal from 4.6 per cent in the previous year. Healthy agricultural growth is expected to keep food inflation under check, though the impact of excess rain was yet to be fully assessed. Lower crude prices and benign global commodity prices are expected to contain non

Strong global interest in industrial cities: NICDC chief Rajat Kumar Saini

East Asian and European investors keen to engage with infrastructure programme, says Rajat Kumar Saini

No international sanctions on buying Russian crude, says Hardeep Singh Puri

Petroleum Minister Hardeep Singh Puri said India will keep importing Russian oil as no sanctions ban such purchases, while stressing PSU oil firms are profitable but undervalued

India, Russia look to strengthen balanced bilateral agriculture trade

Russian Deputy Prime Minister Dmitry Patrushev met Agriculture Minister Shivraj Singh Chouhan as both nations discussed trade barriers, fertiliser and oil imports, and wider farm cooperation

World Food India: Govt expects ₹1 trn investment in food processing sector

World Food India 2025 is set to draw over Rs 1 trillion in investments, with Reliance, Coca-Cola, Amul and Olam Foods signing MoUs worth Rs 75,000 crore on the opening day

GST cut will give impetus to demand: Tata Consumer's Sunil D'Souza

Tata Consumer MD Sunil D'Souza says GST cuts and increased government spending will put more money in consumers' hands, boosting demand and driving long-term growth

Industrial classification set for a makeover, in line with new-age economy

An overhaul of the National Industrial Classification framework seeks to include multiple new activities that better capture a changing economy, data from which is expected to help policymaking

Will support brownfield projects with 25% of ₹8.2K cr fund: Shipping secy

Financial aid, cluster development, and credit note scheme aim to modernize Indian shipyards

Green H2 production cost to fall below $3 per kg soon: Hardeep Singh Puri

The government has awarded 900,000 tonnes per annum production capacity of green hydrogen to 19 companies under the National Green Hydrogen Mission

GSTAT rollout from Oct to ease GST litigation and unlock business capital

The GST Appellate Tribunal will begin phased rollout in October 2025 with digital filing, faster appeals, and backlog clearance to ease GST litigation and free up capital

September RBI bulletin: Stage is set for 'virtuous cycle' of investment

Net FDI inflows at 38 month high in July; GST rate cut to lower retail prices, boost consumption

India records lowest solar-plus-storage tariff at MP Morena project

The bidders included Acme Solar, Adani Renewable, AMPIN Energy, Apraava Energy, CEIGALL India, Dilip Buildcon, Engie, MB Power, NTPC Renewable Energy, Purvah Green, ReNew Solar, Serentica Renewables

SME tracker: Global headwinds to slow down growth for ITeS MSMEs

In FY25, revenue grew an estimated 11 per cent in rupee terms to ₹4.4 trillion, supported by increased offshore workloads from cost-conscious global clients

India leads global flex office market, to cross 100 mn sq ft by 2026: C&W

India has topped the global flex office maturity index, with Cushman and Wakefield projecting stock to cross 100 mn sq ft by 2026 on strong demand and operator expansion

Japan's R&I upgrades India's currency rating to BBB+; outlook stable

R&I upgrade comes as RBI rate cuts, GST revamp and resilient domestic demand boost confidence in India's economic outlook