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Experts at a recent webinar hosted by *businessline* discussed new withdrawal norms for the Employees Provident Fund (EPF), which they deemed a positive development but acknowledged the challenges in fostering a saving culture among younger generations. The panel, featuring Rajneesh Singh (CEO, Simpli Group), A Balasubramanian (Senior VP, TeamLease Services), and Ramkumar Subramanian (Partner, Grant Thornton Bharat), examined the Central Board of Trustees' approval allowing subscribers to withdraw 75% of their EPF balance before retirement, while retaining a minimum of 25%. Concerns were raised about the younger generation's tendency towards instant gratification and a lack of interest in pensions, complicating efforts to encourage prudent financial habits. Balasubramanian expressed hope that the new norms would reduce the high rejection rate for partial withdrawals, as they simplify the process by eliminating documentation requirements and introducing auto settlements. 
Published: Oct 27 2025, 9 pmeznews.inFour of the seven newly inaugurated airports in Uttar Pradesh have suspended operations during the winter schedule of 2025, primarily due to low passenger demand and a shortage of suitable aircraft. The airports in Aligarh, Moradabad, Chitrakoot, and Shravasti will not operate from October 26, 2025, to March 28, 2026, raising concerns about infrastructure planning and the effective use of public funds. Reports suggest that operations have also ceased at Bhavnagar, Ludhiana, and Pakyong airports, with unverified claims of additional suspensions in Kushinagar and Azamgarh. The airports, which cost between ₹29 crore and ₹260 crore to develop, were intended to enhance regional connectivity. Officials noted that many can only accommodate small aircraft, which are scarce. Despite these challenges, the Ministry of Civil Aviation continues to support regional connectivity through the UDAN scheme, with plans for 50 new airports by 2030 as part of a broader aviation growth strategy.
Published: Oct 27 2025, 9 pmeznews.inIndia's crude oil imports from the United States have surged to their highest levels since 2022, reaching 540,000 barrels per day (b/d) as of October 27, according to data from analytics provider Kpler. This increase is expected to push October's total to approximately 575,000 b/d, driven by a favorable economic environment, including a strong arbitrage window and a wider Brent-WTI spread, alongside a lack of demand from China. The rise in US crude imports is part of India's strategy to diversify its energy supply and reduce its trade deficit with the US, enhancing bilateral energy cooperation. However, Kpler's Lead Research Analyst, Sumit Ritolia, cautioned that structural constraints limit further growth, as Indian refineries are optimized for heavier crudes. Future imports are likely to stabilize between 400,000 and 500,000 b/d, influenced by evolving trade dynamics and compliance with international sanctions.
Published: Oct 27 2025, 9 pmeznews.inThe Indian government has approved the procurement of various pulses and oilseeds, including soybean, at minimum support prices (MSPs) across several states, with a total estimated expenditure exceeding ₹15,000 crore. In Madhya Pradesh, the target for soybean procurement is set at 22,21,632 tonnes, with a financial implication of ₹1,775.53 crore. Unlike other states, farmers in Madhya Pradesh will receive the difference between the MSP and the market price directly into their bank accounts under the Price Difference Payment Scheme (PDPS). Currently, the average market price for soybean is ₹4,056 per quintal, which is 27% lower than the MSP of ₹5,328 per quintal, prompting concerns among farmers about inadequate support. Union Agriculture Minister Shivraj Singh Chouhan emphasized that these measures aim to enhance farmers' returns and safeguard their incomes against market volatility, contributing to a self-reliant India.
Published: Oct 27 2025, 8 pmeznews.inAt the 20th East Asia Summit in Kuala Lumpur, External Affairs Minister S. Jaishankar criticized Western sanctions on oil trade, highlighting their role in creating market distortions and selective application of principles. He noted that India, which relies on Russia for nearly 40% of its oil imports, is adjusting its sourcing strategies following recent US sanctions on Russian firms Rosneft and Lukoil. Jaishankar emphasized the need for the world to adapt to new circumstances, fostering fresh understandings and resilient solutions. He also addressed the broader implications of ongoing global conflicts on food security and energy flows, expressing India's support for peace initiatives in Gaza and Ukraine. Furthermore, he announced plans for 2026 to be designated as the ASEAN-India year of maritime cooperation, proposing an EAS Maritime Heritage Festival in Gujarat and the hosting of the 7th EAS Conference on Maritime Security Cooperation.
Published: Oct 27 2025, 8 pmeznews.inIn its Monthly Economic Review released on Monday, India's Finance Ministry highlighted the country's economic resilience amid global challenges, including slowing demand in China and persistent inflation in advanced economies. While the IMF has raised the global growth forecast to 3.2% for 2025, it warns that this momentum may wane by 2026. In contrast, India is experiencing robust domestic demand, bolstered by GST reforms and a festive spending surge, with passenger vehicle sales up 34.8% during Navratri. The IMF projects India's GDP growth at 6.6% for FY26, supported by strong consumer sentiment and investment. Despite a cautionary note regarding global uncertainties impacting external demand, the report emphasizes that structural reforms will help mitigate these risks. Additionally, inflation remains low at 1.54%, enhancing household purchasing power, while agricultural production shows a positive outlook despite some challenges.
Published: Oct 27 2025, 8 pmeznews.inThe Indian government has approved seven investment proposals totaling ₹5,532 crore under the Electronics Components Manufacturing Scheme, marking the first tranche of approvals from a pool of 249 proposals worth ₹1.15 lakh crore. Union Electronics and IT Minister Ashwini Vaishnaw announced that the approved units, located in Tamil Nadu, Andhra Pradesh, and Madhya Pradesh, will produce multi-layer printed circuit boards (PCBs), HDI PCBs, camera modules, copper-clad laminates, and polypropylene films. These facilities are expected to meet significant portions of domestic demand, including 20% for multi-layer and HDI PCBs and 100% for copper-clad laminates, which are currently imported. The projects are projected to save ₹18,000-₹20,000 crore in import bills and create 5,195 direct jobs, generating components worth ₹36,559 crore. Notably, this initiative will establish India's first copper-clad laminate manufacturing facility, crucial for PCB production.
Published: Oct 27 2025, 8 pmeznews.inAt the India Maritime Week, Anura Karunathilaka, Sri Lanka’s Minister of Ports and Civil Aviation, emphasized the importance of enhancing regional port capacities to alleviate supply chain bottlenecks and facilitate swift cargo movement. Speaking at the ministerial plenary session, he highlighted the potential for collaborative efforts among India, Sri Lanka, and neighboring countries to establish a robust network of ports that would bolster the South Asian economy and promote seamless trade. Acknowledging India's leadership in maritime development, Karunathilaka urged for increased dialogue and knowledge exchange to address pressing issues such as climate change and marine pollution. He praised India's advancements in deep-water ports and logistics, describing them as a model of maritime excellence that could serve as a framework for regional cooperation, ultimately fostering trade, connectivity, and shared prosperity across the Indian Ocean.
Published: Oct 27 2025, 8 pmeznews.inThe Indian Navy is set to commission its indigenously built large survey vessel, Ikshak, at Naval Base Kochi on November 6, 2025, enhancing its hydrographic capabilities and commitment to self-reliance. The vessel, constructed by Garden Reach Shipbuilders and Engineers (GRSE) Ltd, boasts over 80% indigenous content and represents a significant collaboration with Indian MSMEs. Admiral Dinesh K Tripathi, Chief of the Naval Staff, will preside over the induction ceremony, marking Ikshak as the third vessel in the survey vessel (Large) class, following INS Sutlej and INS Sarvekshak. Designed for hydrographic surveys, Ikshak also features dual-role capabilities for humanitarian assistance and disaster relief, and includes dedicated accommodation for women, reflecting the Navy's progressive approach. The ship's name, meaning "The Guide," underscores its mission to enhance maritime safety and India's naval prowess. Additionally, INS Sutlej is currently engaged in a joint hydrographic survey mission in Mauritius.
Published: Oct 27 2025, 7 pmeznews.inIndia's mustard production for the 2024-25 season has decreased to 126.06 lakh tonnes, down from 132.59 lakh tonnes the previous year. However, sowing in Rajasthan, the country's largest mustard-producing state, has surged, with acreage increasing by 84% year-on-year to over 16.84 lakh hectares as of October 24. This figure is approaching the five-year average of 35.22 lakh hectares. Favorable conditions, including high soil moisture from a late monsoon and rising market prices—currently around ₹72,000 per tonne—are encouraging farmers to plant more mustard. The Centre has set a minimum support price (MSP) of ₹6,200 per quintal for the upcoming rabi marketing season, reflecting a ₹250 increase from the previous year. Experts suggest that if climatic conditions remain stable, mustard production could see a significant boost this season.
Published: Oct 27 2025, 7 pm
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