Oil Prices Fall After Trump Cancels 'Planned Strikes' On Iran, Says Deal to Be Signed 'Shortly'
Oil prices slipped below $90 a barrel on Friday after President Donald Trump announced the cancellation of planned U.S. strikes on Iran and said a diplomatic deal was close to signing. Brent crude fell 1.14% to $89.37, while WTI dropped 0.98% to $86.85. The announcement eased market fears that further military action could disrupt global supply, especially after recent attacks on commercial vessels in the Strait of Hormuz. Iran’s foreign ministry, however, warned the agreement was not yet final, keeping uncertainty alive.
Weak Monsoon, El Niño to Take a Tenth of India’s Hydro Power Generation Offline
India's hydropower output could fall about 10% year‑over‑year as a weak monsoon and El Niño depress rainfall to 90% of the 50‑year average, leaving reservoirs below full‑level. The India Meteorological Department revised its forecast, echoing the 12% dip seen in 2015‑16....
Solar Power Curtailment Raises Red Flags for Renewable Investors
On May 1, 2024 India’s grid operator curtailed 27.34 GW of solar generation—about 121.46 GWh—representing roughly one‑sixth of the nation’s 150 GW installed solar capacity. The curtailment was triggered by the emergency TRAS Down mechanism to protect grid stability. Analysts attribute the excess supply partly...
India Targets Near Fourfold Jump in Fisheries Exports to $30 Billion in 5 Years
India’s commerce minister Piyush Goyal announced a plan to boost fisheries exports from the current $8.45 billion to over $30 billion within five years. Export values have already risen about 70% since 2013‑14, outpacing global trade growth. The government is proposing a...
‘So What? 100 Is Just a Number’: PM Modi's EAC Member Dismisses Alarm over Rupee’s Potential Fall to Triple Digits
Shamika Ravi, a member of Prime Minister Narendra Modi’s Economic Advisory Council, dismissed alarm over the Indian rupee potentially slipping to 100 per U.S. dollar, calling the level “just a number.” She argued that policy should focus on managing the broader economic...
RBI, Govt Unveil Measures to Attract Foreign Inflows in Bonds, Equities
The Reserve Bank of India and the government announced a package of reforms aimed at pulling foreign capital into Indian bonds and equities. Key steps include expanding the Fully Accessible Route to 15‑, 30‑ and 40‑year government securities, granting FPIs...
Oil Rises as Hezbollah Rejects Ceasefire, Raising Fresh Fears over West Asia Peace
Oil prices ticked higher on Friday as Brent rose to $95.64 a barrel and WTI to $93.37, reversing the previous session’s declines. The rally followed Hezbollah’s rejection of a U.S.-brokered Israel‑Lebanon ceasefire, reviving fears that the conflict could widen. In...
Centre Plans to Allow PE Firms, Sovereign Wealth Funds to Directly Participate in All Greenfield Infra Projects
India’s finance ministry is drafting a new public‑private partnership framework that would let private‑equity firms, sovereign wealth funds and pension funds invest directly in greenfield infrastructure projects such as power, rail, airports and ports. The move expands early‑stage capital beyond...
Mint Explainer | Why Has the US Proposed Fresh Tariffs on India?
The United States announced a new 12.5% tariff on Indian imports under Section 301 of the Trade Act, targeting goods linked to forced‑labour and excess industrial capacity. The move comes as the two nations near a bilateral trade agreement, raising questions...
Cabinet Clears ₹20,000 Cr Schemes for Jet Fuel Support, Cleaner Delhi Vehicles
The Indian cabinet approved nearly $2.4 bn in schemes to cushion the economy from West Asia‑driven jet‑fuel price spikes and to clean Delhi‑NCR’s transport fleet. A $1.2 bn aviation fuel stabilization fund will provide interest‑free advances to oil marketers, capping domestic ATF...
How Have Crude Oil Prices Behaved During the West Asia War?
The West Asia war sent Brent crude soaring from roughly $70 to a four‑year high of $126 per barrel, before easing to about $90 as Iran‑U.S. peace talks progressed. Despite the moderation, prices remain well above pre‑war levels. India, which...
India Eases Fuel Export Levies, Lowers Duties on Petrol, Diesel and ATF Starting June 1
India announced a fortnightly reduction in export levies effective June 1, setting duties at ₹1.5 per litre ($0.016) for petrol, ₹13.5 per litre ($0.14) for diesel, and ₹9.5 per litre ($0.10) for aviation turbine fuel. The rates are adjusted every two...
India to Get 'Plastic Notes'? RBI Considers Decade-Old Plan. What Are Polymer Banknotes and Are They Better than Paper?
The Reserve Bank of India (RBI) is reviving a decade‑old plan to introduce polymer banknotes, with a pilot likely to start on low‑denomination ₹10 and ₹20 notes. The move comes as printing costs surged to about ₹6,373 crore (≈ $767 million) in FY25...
India Sees Rising Evening Power Shortages as Solar Supply Fades
India’s grid is hitting a new bottleneck as evening demand surges after sunset, when solar generation disappears. The shortfall is most acute between 6 p.m. and 10 p.m., causing outages across the north and west. Around 40 GW—roughly 15% of the nation’s thermal...
Govt Open to Views on Capital Gains Tax Cuts Amid FPI Outflows: Sitharaman
Finance Minister Nirmala Sitharaman said the Indian government will consider stakeholder input on lowering the 20% short‑term and 12.5% long‑term capital gains taxes on equities to make the market more attractive to foreign portfolio investors (FPIs). FPIs have withdrawn a record...