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The Reserve Bank of India's recent decision to cut the repo rate by 50 basis points is set to invigorate the automotive sector, which is currently facing challenges due to a rare earth mineral crisis. Shailesh Chandra, President of the Society of Indian Automobile Manufacturers, highlighted that this reduction will enhance loan accessibility, fostering positive consumer sentiment. However, industry experts caution that the benefits depend on how swiftly banks and non-banking financial companies (NBFCs) implement these lower rates. Maruti Suzuki's Partho Banerjee noted that while some banks have already adjusted their rates, others are lagging. Shradha Suri Marwah from the Automotive Component Manufacturers Association praised the RBI's move as timely, anticipating it will lower borrowing costs and stimulate demand. Anish Shah, CEO of Mahindra Group, echoed this sentiment, asserting that the rate cut will serve as a catalyst for growth in interest-sensitive sectors, including automobiles. 
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Jun 06 2025, 9 pmeznews.inThe India Meteorological Department (IMD) has issued an 'orange' alert for heavy rainfall in Jharkhand, including the state capital Ranchi, effective until July 1. Ranchi has experienced light to moderate rain since Sunday, with expectations of increased intensity throughout the day. The alert covers several districts, including Khunti, Saraikela-Kharswan, and East and West Singhbhum, due to a low-pressure area forming in the northern Bay of Bengal and a trough over Jharkhand. From June 1 to June 28, Jharkhand recorded an 80% surplus in rainfall, totaling 306.5 mm against a normal of 170.3 mm, with Ranchi seeing the highest surplus at 207%. However, Godda and Deoghar districts are still facing deficits of 26% and 22%, respectively. The IMD forecasts continued heavy rainfall across East and Central India until Saturday.
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Jun 29 2025, 11 ameznews.inFertilisers, essential for enhancing crop yields, saw a significant rise in usage following India's Green Revolution, aimed at achieving food self-sufficiency. However, while balanced application can boost productivity, excessive use leads to environmental degradation, water pollution, and greenhouse gas emissions. In FY2023-24, India produced 31.41 million tonnes of urea and 9.55 million tonnes of NP/NPK complex fertilisers, yet still relies on imports for 30% of its needs. Current fertiliser subsidies, particularly for urea, have made it more affordable for small farmers but have discouraged balanced nutrient application, resulting in imbalanced nutrient ratios and declining soil health. With India's population projected to exceed 1.6 billion by 2050, a new fertiliser policy is crucial, focusing on sustainable practices, farmer education, and reducing import dependency. This includes integrating technology and corporate social responsibility to transform the agricultural landscape while ensuring food security.
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Jun 29 2025, 9 ameznews.inIndian agriculture, historically marked by innovation, faces new challenges such as rising input costs, dwindling rural labor, and unpredictable weather, which complicate timely agrochemical application. In response, drone technology is emerging as a transformative solution. Agricultural drones, equipped with GPS and AI, can spray an acre in under ten minutes, reducing pesticide use by 20-30% and water consumption by up to 90%. The Indian government is supporting this shift through initiatives like the Drone Rules 2021 and the 'Drone Didi' program, which empowers women to provide drone services in rural areas. However, challenges remain, including regulatory hurdles, quality assurance, and the need for greater awareness among farmers. Despite these barriers, drones represent a significant opportunity for precision farming, promising to enhance productivity and sustainability in Indian agriculture as the sector adapts to modern demands.
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Jun 29 2025, 9 ameznews.inIndia has implemented new import restrictions on key Bangladeshi products, including jute, woven fabrics, and yarns, effective June 27. The ban prohibits imports through all land ports, allowing only entry via the Nhava Sheva port in Mumbai. This sudden move has led to a dramatic decline in trade at Petrapole, India's busiest land port for Bangladesh commerce, with truck movement dropping over 70% in just one day. Previously, around 80-100 trucks crossed daily; now, only 20-25 are making the journey, with many returning to Bangladesh mid-route. The restrictions follow a prior ban on ready-made garment imports, raising concerns among exporters about severe economic impacts. The jute trade, crucial for Bangladesh, is particularly affected, with prices in India falling below the minimum support price. While the Indian government has not provided an official explanation, the measures appear aimed at protecting domestic industries and addressing trade imbalances.
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Jun 28 2025, 7 pmeznews.inSkyHop Aviation, a new seaplane and small aircraft operator, is set to launch commercial flight services after receiving a No Objection Certificate from the Ministry of Civil Aviation (MoCA). Led by Avani Singh, daughter of SpiceJet promoter Ajay Singh, the venture aims to enhance regional connectivity in India, where only 170 out of 4,000 cities currently have air links. SkyHop has partnered with De Havilland Canada for seaplane procurement and is actively hiring pilots for its fleet. The company plans to operate routes across Andhra Pradesh, the Andaman and Nicobar Islands, Lakshadweep, and the North-East. With the Indian government encouraging seaplane operations through relaxed regulations and the UDAN scheme, industry forecasts predict the establishment of over 50 seaplane routes and the development of 20-25 aerodromes in the next five years, addressing the growing demand for air travel in remote areas.
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Jun 28 2025, 8 pmeznews.inIn a significant development for Non-Resident Indians (NRIs) in the US, Senate Republicans have proposed amendments to the One Big Beautiful Bill that could ease the tax burden on remittances. The updated draft stipulates a reduced tax rate of 1% on remittances, down from 3.5%, applicable only to transfers made using cash or similar physical instruments, and not to those funded through US bank accounts or debit/credit cards. This change is expected to provide substantial relief to the NRI community. Additionally, the removal of Section 899 from the bill, which targeted unfair foreign taxes, is anticipated to benefit Indian companies and investors by preserving the advantages of the India-US tax treaty. The bill, already passed by the House of Representatives, is set for Senate debate, with final approval expected by July 4, 2025. The latest RBI survey indicates that the US now accounts for the largest share of remittances to India.
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Jun 28 2025, 7 pmeznews.inIn a notable development for India's tax administration, the government has re-appointed Ravi Agrawal as Chairman of the Central Board of Direct Taxes (CBDT) for an additional year, effective from July 1, 2025, until June 30, 2026, or until further notice. Agrawal, an Indian Revenue Service (IRS) officer from the 1988 batch, has been serving as a member of the CBDT since July 2023 and took over as Chairman in June 2024, succeeding Nitin Gupta. The Appointments Committee of the Cabinet approved this re-appointment under the usual terms for re-employed Central Government officers, with a relaxation of the Recruitment Rules. The CBDT is the principal policy-making body for the Income Tax Department, playing a crucial role in shaping tax policy in India.
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Jun 28 2025, 7 pmeznews.inThe Indian government has increased the reserve prices for wheat and rice under the Open Market Sale Scheme (OMSS), including broken rice for ethanol production. Following a meeting of the Committee of Secretaries on June 26, the new reserve price for wheat is set at ₹2,550 per quintal, up from ₹2,325 for fair average quality wheat, effective when the OMSS is announced later this fiscal year. The revised rice prices will take effect from October 1, with a new rate of ₹2,320 per quintal for state governments and ₹2,890 for private traders. The Food Corporation of India (FCI) holds substantial stocks, including 37.99 million tonnes of rice and 36.92 million tonnes of wheat, to help manage food inflation. Additionally, the CoS has established reserve prices for coarse grains and decided to discontinue a ₹200 per quintal support for certain cooperative organizations from July 1.
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Jun 28 2025, 6 pmeznews.inIn Jharkhand's Ramgarh district, abandoned coal pits are being repurposed into thriving fish farms, offering new livelihoods for displaced communities and addressing local protein shortages. With approximately 1,741 such pits across the state, many dating back to the 1980s, the Kuju Fishermen Cooperative Society has emerged as a notable success story. Founded in 2010 by Shashikant Mahto, the cooperative has expanded from initial fish farming efforts to operating 126 cages across a 22-acre pit, producing 40 tonnes of fish last year, primarily Pangasius and Monosex Tilapia. The initiative, supported by government subsidies, highlights the potential of these pits for aquaculture, despite regulatory challenges. State officials emphasize the untapped opportunities for fish farming in abandoned coal and stone pits, which could significantly boost local production. This model not only provides sustainable livelihoods but also transforms environmental liabilities into economic assets, offering a blueprint for similar regions across India.
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Jun 28 2025, 3 pmeznews.inIndia's private consumption has reached its highest share of GDP in two decades, according to a recent report from the Ministry of Finance. The share of private consumption in nominal GDP rose from 60.2% in FY24 to 61.4% in FY25, reflecting robust demand across the country. This growth was primarily driven by a rebound in rural demand, with private final consumption expenditure increasing by 7.2%, up from 5.6% the previous year. Additionally, gross fixed capital formation (GFCF) grew by 7.1%, although slightly lower than the 8.8% growth in FY24. Notably, India's exports rose by 6.3% in FY25, a significant improvement from 2.2% in FY24, despite global trade uncertainties, while imports fell by 3.7%. The report underscores a balanced economic growth model, with consumption, investment, and exports all contributing positively to India's economic landscape.
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Jun 28 2025, 3 pm
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