eznews.in
India's capital expenditure surged to ₹2.75 lakh crore, accounting for 25% of the FY26 Budget Estimate during the first quarter (Q1) of the fiscal year, according to the Controller General of Accounts (CGA). This figure represents a significant increase of over 50% compared to the same period last year, when spending was curtailed due to the Model Code of Conduct during general elections. The Union Budget allocated over ₹11.21 lakh crore for FY26 capital expenditure, with the Department of Telecommunication leading the spending at 34% of its budget. The fiscal deficit for the central government reached 17.9% of the full-year target, amounting to over ₹2.80 lakh crore. Despite a 2% contraction in net tax revenues, non-tax revenues rose by 33%, bolstered by higher-than-expected dividends from the RBI. Economists suggest that the robust capital expenditure could positively influence GDP growth in the upcoming quarter. 
Published: Jul 31 2025, 7 pmeznews.inIndia's leading wire exporter, R R Kabel, is set to increase shipments to Europe and the Middle East in response to a 25% tariff imposed by the US on Indian goods, according to finance chief Rajesh Jain. In an interview with Reuters, Jain emphasized that the company would not absorb any losses from the tariff, opting instead to pass on price increases to customers. Despite the US market contributing only 2.5% to R R Kabel's overall revenue, it represents about 10% of its export income. Jain reaffirmed the company's growth forecast of 16% to 18% for the 2026 fiscal year, highlighting the ability to offset losses in one market by leveraging opportunities in others. While US clients remain cautious amid tariff uncertainties, existing orders have not been cancelled. R R Kabel's proactive approach follows similar moves by other Indian firms, including Tata Steel, in response to the evolving trade landscape.
Published: Aug 01 2025, 4 pmeznews.inBangalore International Airport Limited (BIAL), which manages Kempegowda International Airport in Bengaluru, has successfully raised ₹9,000 crore through a private placement of Non-Convertible Debentures (NCDs) with a 15-year maturity. The funds will be directed towards expansion and strengthening the capital structure, allowing BIAL to conserve capital for future projects. This refinancing is expected to reduce borrowing costs, thanks to BIAL's AAA credit rating and a transition from MCLR-linked to fixed interest rates. The issuance is being executed in two tranches, with ₹4,362 crore completed on July 25, 2025, and the remaining ₹4,638 crore anticipated in early October 2025, arranged by SBICAPs. Bhaskar A Rao, BIAL's CFO, emphasized that this milestone reflects strong investor confidence and will enhance value for stakeholders, including passengers and airline partners. In FY24, BLR Airport served over 41 million passengers and handled 502,480 metric tonnes of cargo.
Published: Aug 01 2025, 4 pmeznews.inThe Indian Meteorological Department (IMD) announced that the monsoon arrived early on May 24, 2025, significantly cooling temperatures and reducing electricity consumption across the country. This early onset contrasts sharply with the heat waves that affected the Konkan and coastal Karnataka in February and Odisha in April. Power consumption in July grew marginally by 2.6% year-on-year to 153.63 billion units, largely due to decreased use of cooling appliances amid heavy rainfall. Peak power demand also fell slightly to 220.59 GW in July, down from 226.63 GW the previous year, following an all-time high of 250 GW in May 2024. Despite forecasts predicting hotter-than-usual temperatures for the summer, the early monsoon has altered expectations, leading to a notable decline in electricity demand as widespread rains have lessened reliance on cooling systems.
Published: Aug 01 2025, 3 pmeznews.inFitch Ratings has revised India's GDP growth forecast for the current fiscal year to 6.3%, down from a previous estimate of 6.4%. The agency anticipates that robust infrastructure spending will drive demand for cement, building materials, electricity, petroleum products, steel, and engineering and construction companies in FY26. Despite the introduction of 25% tariffs by the US on Indian goods, Fitch expects a limited direct impact on Indian corporates due to their low export exposure to the US. However, potential second-order risks from excess supply and ongoing trade negotiations between India and the US could influence outcomes. Sectors such as oil and gas, cement, and utilities are expected to remain stable, while IT and auto suppliers may face challenges in exports. Additionally, pricing pressures in steel and chemicals could arise from increased supply, leading to greater price volatility in metals and mining.
Published: Aug 01 2025, 3 pmeznews.inIn a significant trade development, U.S. President Donald Trump has imposed a 25% tariff on Indian goods following stalled negotiations over access to India's agricultural sector, which the country is keen to protect. The U.S. seeks to expand its market presence in India with products like dairy, corn, and soybeans, but India remains resistant, particularly to genetically modified (GM) crops, which are viewed as harmful by many. The dairy sector is also sensitive, as it supports millions of farmers, and cultural dietary preferences complicate the acceptance of U.S. practices. Despite agriculture constituting only 16% of India's economy, it is vital for nearly half of its 1.4 billion population. Concerns about local price drops and political backlash ahead of elections further complicate India's stance, as it aims to balance domestic agricultural interests with international trade pressures.
Published: Aug 01 2025, 3 pmeznews.inSeafarers in Mumbai protested against a controversial circular issued by the Directorate General of Shipping (DGS) on July 18, 2025, which prohibits Indian crew members from sailing on foreign vessels unless they hold certificates from recognized maritime authorities. The Forward Seamen’s Union of India (FSUI) argues that this directive threatens the employability of thousands of Indian seafarers who possess valid certifications from several International Maritime Organization (IMO) white-listed countries, including Panama and Liberia. FSUI leaders expressed concerns that the mandate to verify training certificates solely from DGS-approved institutes could lead to disqualification for many qualified professionals, exacerbating financial insecurity within the maritime sector. The union called for urgent dialogue with the Shipping Ministry and stakeholders to address these issues, while also demanding government action to protect seafarers from abandonment by unscrupulous companies and to establish a pension scheme for those facing job losses.
Published: Aug 01 2025, 3 pmeznews.inIndia has categorically rejected any tariff concessions on agricultural, dairy, and genetically modified (GM) products in ongoing trade negotiations, emphasizing the need for policy consistency and respect for religious sensitivities in the dairy sector. Sources indicate that the recent imposition of a 25% tariff by the US will have minimal impact on India, as over half of its exports to the US, valued at approximately USD 131.8 billion in 2024-25, are already exempt from duties. Only around USD 40 billion of exports may be affected by these tariffs. India has historically not offered duty exemptions in the dairy sector, citing the importance of religious sentiments. Negotiations for a bilateral trade agreement with the US have been ongoing since March, with the sixth round of talks scheduled for August 25.
Published: Aug 01 2025, 3 pmeznews.inIndia relies heavily on imports of water soluble fertilisers, primarily sourced from China, along with alternative suppliers such as Belgium, Egypt, Germany, Morocco, and the USA, as revealed by Minister of State for Chemicals and Fertilisers Anupriya Patel in Parliament. The country's annual consumption for the 2023-24 fiscal year is approximately 335,000 tonnes. In response to concerns about potential disruptions in supply from China, Patel clarified that there is no formal classification for "speciality fertilisers" under the Fertiliser Control Order, 1985, apart from specific categories of water soluble fertilisers. Furthermore, she noted that fertiliser companies have the autonomy to import phosphatic and potassium fertilisers based on their business needs. It is important to highlight that these water soluble fertilisers, essential for cash and horticultural crops, are not covered under the government's Nutrient-Based Subsidy Scheme.
Published: Aug 01 2025, 2 pmeznews.inGoogle has proposed allowing real money games (RMGs) on its Play Store in India, aiming to address anti-competitive concerns raised by the Competition Commission of India (CCI). This move follows an investigation initiated in November 2024 after a complaint from Winzo Games Pvt Ltd, which alleged that Google’s selective onboarding of certain RMG apps distorted competition. In its commitment proposal, Google plans to replace its current pilot program, which only includes Daily Fantasy Sports and Rummy apps, by permitting all self-declared RMGs that comply with local laws. Additionally, Google intends to revise its Ads Policy to allow the advertising of skill-based games, contingent on third-party certification. The CCI has invited public comments on this proposal until August 20, 2025, as Google seeks to standardize its policies and ensure fair access to its platforms for all developers.
Published: Aug 01 2025, 1 pmeznews.inThe India Meteorological Department (IMD) has issued a forecast for heavy rainfall, thunderstorms, and strong winds across Andhra Pradesh from August 1 to 7. The weather agency anticipates thunderstorms with lightning and gusty winds reaching speeds of up to 50 km/h in North Coastal Andhra Pradesh, Yanam, South Coastal Andhra Pradesh, and Rayalaseema from August 1 to 5. Heavy rainfall is expected particularly in South Coastal Andhra Pradesh and Rayalaseema on August 5, 6, and 7, with thunderstorms and gusty winds persisting throughout the week. The IMD noted that strong surface winds may affect both coastal and interior regions, while localized weather disturbances are likely in isolated areas. Although no significant low-pressure system has been identified, the prevailing westerly and northwesterly winds are creating conditions conducive to rainfall and convective activity across the state.
Published: Aug 01 2025, 1 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact