The Week in Charts: IMF Growth Forecast, Inflation Climbs, TCS Payout, RBI Penalties
India slipped to sixth place in the IMF’s nominal GDP ranking for FY25‑26 and FY26‑27, falling behind the United Kingdom after a base‑year revision to 2022‑23 trimmed earlier over‑estimates. Retail inflation accelerated in March, spurred by higher fuel and food prices amid the West Asia conflict. Tata Consultancy Services announced a modest reduction in its shareholder payout, lowering the dividend to Tata Sons. Meanwhile, the Reserve Bank of India reported fewer penalties on commercial banks, suggesting stronger regulatory compliance.
India, Austria Launch Fast-Track Investment Mechanism; Flag India-EU FTA as Key Trade Driver
India and Austria have operationalised a bilateral fast‑track mechanism (FTM) to accelerate investment approvals and resolve business disputes promptly. The launch, announced during Austrian Chancellor Christian Stocker’s first official visit in over 40 years, underscores the strategic importance of the...
India to Continue Buying Russian Crude, LPG Despite End of US Sanctions Waiver
India’s major refiners have secured roughly 800,000 tonnes of LPG from Russia, Australia and the United States and are now negotiating additional imports. The United States’ one‑month waiver on sanctions for Russian crude and LPG has expired, but officials say India...
Europe to Face Fuel Shortage? Energy Agency Head Warns ‘Maybe 6 Weeks of Jet Fuel Left’ — Here's All We...
IEA executive Fatih Birol warned that Europe may have only six weeks of jet fuel left as the Strait of Hormuz remains blocked by Iran. The closure, which handles about 20% of global oil shipments, is already tightening supplies of...
Oil Prices Trade Subdued Amid Fragile Ceasefire, Peace Deal Hopes
Oil prices edged lower on Thursday as Brent slipped to $94.68 and WTI to $90.96, reflecting a modest 0.26% and 0.36% decline respectively. Market sentiment was tempered by optimism over a cease‑fire expected to hold through 21 April and renewed Iran‑US...
India’s Unemployment Rate Edges up to 5.1% in March as Urban Joblessness Rises
India’s overall unemployment rate edged up to 5.1% in March 2026, driven by a rise in urban joblessness that reached 6.8%—a 0.2‑point increase from February. Rural unemployment remained virtually flat at 4.3%. The Periodic Labour Force Survey also showed a...
India’s March Trade Deficit Narrows to $20.67 Billion on Year
India’s merchandise trade deficit narrowed to $20.67 billion in March 2026, driven by a sharper decline in imports than exports. Exports fell 7.4% to $38.92 billion, while imports dropped 6.5% to $59.59 billion, easing the gap. Including services, the overall trade deficit contracted...
India’s Wholesale Inflation Rises to 3.88% in March, Highest in over 3 Years on Fuel, Metal Costs
India’s wholesale price index (WPI) jumped to 3.88% in March, the strongest reading in over three years, driven by sharp increases in crude petroleum, natural gas, and basic metals. Primary‑article inflation surged to 6.36%, while manufactured‑goods inflation rose to 3.39%,...
PNG vs LPG: What Are the Differences? Which Is More Affordable and Offers Uninterrupted Supply? FAQs Answered
The Indian government issued a new order on 12 April to accelerate piped natural gas (PNG) network expansion, while a 24 March mandate forces LPG‑cylinder users to switch to PNG when a connection becomes available, invalidating LPG after 90 days of non‑compliance. PNG...
Mint Explainer: Why Govt Wants Stricter Gold Hallmarking and What Will Change for Buyers
The Indian government will tighten gold hallmarking by requiring each jewellery piece to carry a distinct, non‑reusable Hallmarked Unique ID (HUID) linked to photographs, weight and dimensions. The Bureau of Indian Standards will mandate jewellers upload this data at the...
India's Retail Inflation Rises to 3.4% in March
India’s retail consumer price index rose to 3.4% in March, up from 3.21% in February, aligning with the consensus forecast of 16 economists. The increase was driven by higher food prices, which jumped to 3.87%, and a surge in energy...
India Unveils New Security Standards for Its Digital Payments System to Drive Global Adoption
India’s Bureau of Indian Standards (BIS) has rolled out new security norms covering biometric authentication, QR‑code payments, and digital‑currency handling. The guidelines aim to curb fraud, improve interoperability, and build consumer confidence in the country’s fast‑growing fintech ecosystem. BIS consulted...
Govt Hikes Export Duty on Diesel to ₹55.5/litre; ATF to ₹42/Litre From Today — Check Details
On 11 April 2026 the Indian government raised the windfall export duty on diesel to ₹55.5 per litre (about $0.67) and on aviation turbine fuel (ATF) to ₹42 per litre (about $0.51), effective immediately. The hike follows an earlier increase in...
India Inflation Likely Rose to 3.4% in March 2026: Mint Poll
India’s consumer price index is projected to climb to 3.4% in March 2026, up from 3.2% in February, according to a Mint poll of 16 economists. The modest rise marks a 12‑month high, driven by higher fuel prices and a...
India Navigating Global Uncertainties Like a ‘Chakravyuh’: Shaktikanta Das
India’s economy grew 7.6% in FY 2025‑26, showing resilience amid heightened global volatility. Principal Secretary Shaktikanta Das likened navigating the crisis to a “Chakravyuh,” stressing that a calibrated exit is essential to avoid new imbalances. He pointed to macro‑stability, rapid digitalisation,...
To Raise or Not to Raise Interest Rates? ‘Several’ Fed Policymakers Are Divided on Rate Hikes, March Minutes Show
The Federal Open Market Committee kept its policy rate at 3.5%‑3.75% during the March meeting, citing uncertainty from the recent US‑Iran conflict. Minutes reveal a split among officials: some fear lingering inflation could demand hikes, while others see labor‑market risks...
India's Growth May Slow to 6.6% in FY27 Due to West Asia War: World Bank
The World Bank now expects India’s economy to expand 6.6% in FY27, down from the 7.6% growth recorded in FY26. The downgrade reflects heightened energy costs and trade disruptions stemming from the West Asia war, which could shave 30‑40 basis...
Jet Fuel Crisis to Last Months Even After Iran-US Ceasefire, IATA Warns
IATA warns that jet fuel shortages will linger for months despite the tentative reopening of the Strait of Hormuz following a US‑Iran ceasefire. Damage to regional refining capacity means crude flows alone cannot quickly restore supply, leaving airlines with higher...
RBI Agrees to 'Demand From some Quarters,' Unveils First-Ever Core Inflation Projection at 4.4% for FY27
The Reserve Bank of India announced its first-ever core‑inflation forecast, projecting a 4.4% rise for fiscal year 2027. Governor Sanjay Malhotra said the move responds to demand from market participants and will become a regular feature. Headline CPI stayed below the...
RBI Holds Key Policy Rate at 5.25%
The Reserve Bank of India’s monetary policy committee kept the repo rate unchanged at 5.25% and reaffirmed a neutral stance. A Mint poll of ten economists had anticipated the hold amid rising inflation risks and a softer growth outlook. The...
Iran War, Oracle Layoffs, El Niño Worries: What’s Keeping the World on Edge
Global markets are rattled by three converging forces: a sudden U.S. pivot toward a two‑week conditional ceasefire with Iran, Oracle’s large‑scale AI‑driven layoffs, and escalating El Niño‑related climate risks. Elevated oil prices from Middle‑East tensions are tightening industrial supply chains, while...
Oil Prices Plunge Below $100/Bbl After US, Iran Agree on 2-Week Ceasefire
Oil prices plunged about 14% on Wednesday as Brent fell to $95.17 and WTI to $96.41, both slipping below the $100 per barrel threshold. The drop follows a two‑week cease‑fire agreement between the United States, Israel and Iran and a...
India Resilient as Global Economy Shifts From ‘Shocks’ to 'Permanent Volatility'
Finance Minister Nirmala Sitharaman warned that the global economy is shifting from episodic shocks to “permanent volatility” driven by trade fragmentation and the West Asia conflict. She highlighted India’s strong fiscal position, with general government debt at about 81% of...
The Week in Charts: Jet Fuel Prices, FPI Exodus, E20 Vehicle Gap
India’s economy faces multiple pressures as the West Asia war fuels a global energy squeeze. Jet fuel prices have surged, squeezing airline fares, while the manufacturing PMI slipped to a 45‑month low of 53.9 in March, indicating a sharp slowdown....
Govt Removes Import Duty on 41 Items Effective Today - Check Full List of Items Here
The Indian government announced a full customs‑duty exemption on 41 petrochemical inputs, including anhydrous ammonia, methanol, and key polymers, effective until 30 June. The move is a temporary relief aimed at stabilising supplies for plastics, pharmaceuticals, automotive and textile manufacturers amid...
Infrastructure Boom Drives Rail Freight to Record 1,670 Mt in FY26 as Steel, Cement Loading Rises
Indian Railways logged a record 1,670 million tonnes of freight in FY26, a 3.25% rise over the previous year. The modest growth was powered by strong fertilizer and steel shipments, both up around 13%, and by higher iron‑ore and cement...
India Pulls Back Jet Fuel Price Hike; Commercial LPG Prices up Around ₹200 as Oil Scales $105
Indian Oil Corp (IOCL) rolled back an initially announced 100% hike in aviation turbine fuel (ATF) for domestic airlines, setting the price at ₹1,04,927 per kilolitre (≈ $1,260), about an 8.5% rise from March. The ministry limited the increase to a...
India Accelerates E-Bus Drive Amid Fuel Risks, New 3k Unit Tender by June
India will issue a new tender for more than 3,000 electric buses by June, following the closure of its largest e‑bus tender of over 10,000 units six months earlier. The procurement will be administered under the PM e‑bus seva scheme,...
India’s Industrial Production Grows 5.2% in February
India’s industrial production index accelerated to a 5.2% year‑on‑year gain in February 2026, outpacing the 4.0% forecast and the 2.7% growth recorded a year earlier. Manufacturing led the surge with a 6.0% increase, while mining and electricity showed modest deceleration....
Pakistan to Get $1.2 Billion as IMF, Islamabad Reach Staff-Level Agreement After Month-Long Review
The International Monetary Fund and Pakistan have reached a staff‑level agreement that will make roughly $1.2 billion available to Islamabad, comprising $1 billion under the Extended Fund Facility and $210 million under the Resilience and Sustainability Facility. The deal awaits IMF Executive Board...
Centre to Borrow ₹8.2 Trillion in FY27 First Half; No Impact of Iran War — Yet
The Indian government has announced a borrowing plan of ₹8.2 trillion (about $99 billion) for the first half of FY27, keeping the target unchanged despite the ongoing West Asia conflict. The plan calls for 26 weekly auctions of securities ranging from three...
Global Petrol Prices: Here's a Look at How Much Fuel Cost Has Changed Due to the West Asia War
The West Asia war that began on 29 February 2026 has pushed global petrol prices to an average of $1.41 per litre, with the United States seeing a 30.2% jump to $1.13/L. Australia leads the surge at 42% higher, while Sri Lanka’s...
Govt Eyes More Control of Foreign-Funded Assets Under FCRA Amendment Bill
India's government has introduced the Foreign Contribution (Regulation) Amendment Bill, 2026, which creates a designated authority to take control of foreign‑funded assets when an organization loses its FCRA registration. The authority can manage, transfer, or sell these assets, directing proceeds...
Oil Prices Drop 5% Amid Hopes of Ceasefire in the War in West Asia, Brent Below $100
Oil prices plunged about 5% on Wednesday as optimism grew that a US‑Iran cease‑fire could be negotiated, pushing Brent crude below $100 per barrel and WTI to $88.31. The decline follows a recent peak near $119, but ongoing strikes and...
From Free LPG Cylinders to Dust-Free Roads: Key Takeaways From ₹1.03 Lakh Crore Delhi Budget 2026
Delhi's 2026‑27 budget tops ₹1.03 lakh crore (~$12.5 billion), a record allocation that prioritises health, education and green infrastructure. The health portfolio receives ₹12,645 crore (~$1.5 billion) and education ₹19,148 crore (~$2.3 billion), together accounting for over 30% of total spending. Infrastructure funding includes ₹5,921 crore for...
India in Talks with Global Partners for Safe Passage for Vessels Carrying Essential Commodities via Strait of Hormuz: PM
Prime Minister Narendra Modi told Parliament that India is actively negotiating with global partners to guarantee safe passage for vessels carrying oil, gas, fertilizers and other essential commodities through the Strait of Hormuz. The government is expanding its strategic petroleum...
How the West Asian Conflict Upended Global Monetary Policy
The US‑Iran war has forced major central banks to pause rate cuts, reversing earlier expectations. The Federal Reserve, European Central Bank, Bank of England, Reserve Bank of Australia and Bank of Japan all kept rates steady, while Sweden and Switzerland...
India Maps Supply Chain Gaps in Pharma, Textiles, Fertilizers Amid West Asia War
India’s commerce ministry has launched a comprehensive audit of critical supply chains in pharma, textiles and fertilizers as the West Asia war threatens global trade. A detailed questionnaire asks firms to disclose import dependence, source countries and the substitutability of...
Explainer | Why India Is Pushing to Cut Remittance Costs at WTO
India is spearheading a WTO proposal to slash cross‑border remittance fees that currently eat 5‑6% of transaction values. The initiative targets regulatory and technical barriers, aiming to bring costs below the UN Sustainable Development Goal of 3% by 2030. Backed...
Shoppers Stop and Scan: How a Simple QR Code Will Help Fight Overcharging at Retail Outlets
The Indian government will mandate QR‑code‑based digital certification for every retail shop, linking each outlet to a central compliance database. Shoppers can scan the code with a smartphone to see real‑time status on pricing, weights, and past violations. The scheme,...
India’s Unemployment Rate Moderates in February, Rural Trend Unchanged
India’s overall unemployment rate slipped to 4.9% in February, down from 5.0% in January, driven primarily by a decline in urban joblessness. Urban unemployment fell to 6.6% from 7.0%, with female urban unemployment dropping to 8.7% from 9.8%. Rural unemployment...
India’s Trade Deficit Narrows to $27.1 Billion in February
India’s merchandise trade deficit narrowed to $27.1 billion in February, down from $34.68 billion in January but still far above the $14.42 billion surplus recorded a year earlier. Imports fell to $63.71 billion as demand for energy, gold and electronics moderated, while exports edged...
Oil Prices Trade Mixed as IEA Says Crude From Reserves Will Start Flowing in Soon
The International Energy Agency announced that member countries will release 400 million barrels from emergency reserves to calm markets disrupted by the West Asia conflict. Brent crude rose to $103.95 a barrel while WTI slipped to $98.62, reflecting mixed reactions. The...
Amid Soaring Aluminium Imports, India Brings in New QCO
India has introduced a new Quality Control Order (QCO) that obliges both domestic and foreign manufacturers of aluminium and alloy products to adhere to Bureau of Indian Standards (BIS) specifications. The move comes as imports from China surged from $1.47 billion...
Tax Nudges Lead 5 Million Taxpayers to Revise Returns; Refund Claims Drop ₹2,000 Crore
The Central Board of Direct Taxes reported that more than five million income‑tax returns were revised after the department nudged taxpayers to correct bogus deduction claims, chiefly under Section 80G. This proactive approach cut refund claims by roughly ₹2,000 crore, even as...
India, US on the Heels of Finalising a Critical Minerals Agreement, ‘Big Announcement in Few Months’, Says Sergio Gor
U.S. Ambassador Sergio Gor announced that India and the United States are on the brink of finalising a critical minerals agreement, with a major public announcement expected within months. The pact is designed to shore up supply chains for advanced...
Russian Oil Purchase Allowed… for Now — Scott Bessent Announces ‘Short-Term’ Licence as Crude Prices Rise Amid Iran War
U.S. Treasury Secretary Scott Bessent announced a short‑term general licence that lets countries buy Russian crude already stranded at sea, aiming to ease the price surge triggered by the U.S.-Israel‑Iran conflict. The licence covers oil loaded onto vessels by March 12...
Centre Seeks Parliament Nod for Net Extra Spending of ₹2 Trillion in FY26 Amid Commodity Price Volatility
The Indian government has asked Parliament to approve a net extra spending of roughly ₹2 trillion for FY26, representing just under 0.6% of nominal GDP. The additional outlay is driven by heightened food and fertilizer subsidies, increased defence revenue expenditure, and...
E-Way Bills Point to Slower yet Robust Economic Activity in February
India's e‑way bill generation slipped 3.1% in February to 132.5 million, yet it remains the third‑highest monthly total on record, signalling sustained logistics activity. Analysts attribute the dip to February’s shorter calendar and seasonal softening after a strong January, not a...
Healthcare, Tourism Sectors Key Foundations of Developed India, Says Modi
Prime Minister Narendra Modi highlighted healthcare, education and tourism as pillars for a developed India, urging reforms and stakeholder collaboration. He stressed expanding telemedicine and training youth for the burgeoning "care economy," which could employ 60 million people and generate a...