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ICRA, a prominent ratings agency, has projected India's fiscal deficit for the 2025-26 financial year to reach 4.4% of GDP, with a current account deficit anticipated at -1%. The agency forecasts real GDP growth to exceed 6.5%, while real Gross Value Added (GVA) growth is expected to surpass 6.3%. Inflation is also on the rise, with the Consumer Price Index (CPI) predicted to exceed 4.2% and the Wholesale Price Index (WPI) projected above 2.7%. Rural demand is expected to remain strong, bolstered by Rabi cash flows and favorable reservoir levels. The report highlights that while services exports are likely to outpace merchandise exports, the latter may continue to face challenges. Additionally, the Centre's capital expenditure is set to increase by 10.1%, which is expected to stimulate investment activity, although private capital expenditure may remain cautious due to export uncertainties. 
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Jun 18 2025, 3 pmeznews.inThe Indian hospitality sector is poised for robust growth, driven by increased demand from corporate travel, the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector, and a vibrant wedding season, according to a report by Antique Stock Broking Limited. This surge in activity has led to significant increases in Average Room Rates (ARRs) and occupancy levels. The report anticipates a long-term upcycle for the industry, supported by rising disposable incomes and changing consumer preferences. Large hotel firms reported strong demand in the fourth quarter, with expectations of continued momentum into the first quarter of FY26, fueled by major events and concerts. The sector is projected to grow at a Compound Annual Growth Rate (CAGR) of 10.4% from FY24 to FY29, outpacing supply growth. Additionally, the tourism sector's contribution to GDP has returned to pre-pandemic levels, with international tourist arrivals rebounding significantly in 2023.
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Jun 22 2025, 2 pmeznews.inThe Economic Survey of 2023-24 has recommended excluding food from India's inflation targeting framework, highlighting that current monetary policy tools may be ineffective against inflation driven by supply constraints. Minister of State Rao Inderjit Singh announced that the Consumer Price Index (CPI) basket will expand, with the new base year set for 2024, replacing the current base year of 2012. The CPI, which is crucial for measuring retail inflation, currently includes 299 items, with food and beverages accounting for 54.2% of the basket. The revised CPI series, based on the Household Consumption Expenditure Survey (HCES) conducted in 2023-24, is expected to be published in early 2026. Singh noted that the new basket will reflect updated consumption patterns, as data is collected from over 2,200 urban and rural markets across India.
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Jun 22 2025, 1 pmeznews.inIn a significant update from India's Ministry of Statistics and Programme Implementation, Minister Rao Inderjit Singh announced the upcoming revisions to key economic indicators, including GDP, Consumer Price Index (CPI), and Index of Industrial Production (IIP). A new GDP series will be released on February 27, 2026, using FY 2022-23 as the base year, while the IIP will adopt 2022-23 as its revised base starting from 2026-27. The CPI is set for a revision in 2024, with an expanded item basket based on the National Sample Survey's Household Consumer Expenditure Survey conducted in 2023-24. Additionally, the ministry plans to enhance data collection frequency and introduce new surveys, including the National Household Travel Survey and Domestic Tourism Expenditure Survey, starting in July 2025. The integration of artificial intelligence into the statistical system is also underway, aimed at improving data processing and analysis.
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Jun 22 2025, 1 pmeznews.inThe Gujarat government has unveiled the Gujarat Electronics Component Manufacturing Policy-2025, aiming to attract ₹35,000 crore in investments to bolster the state's emerging semiconductor ecosystem, which currently has four projects under construction. The policy encourages the establishment of upstream industries, including manufacturers of Multi-Layer and High-Density Interconnect (HDI) Printed Circuit Boards, Lithium-ion cells, and various electronic components. Projects approved by the Union Ministry of Electronics and Information Technology (MeitY) will benefit from a 100% top-up on central support, ensuring timely disbursement of assistance. The state will offer turnover-linked incentives for six years, applicable to both new and ongoing projects, although those receiving aid under the previous Gujarat Electronics Policy (2022-28) will be excluded. Interested parties must submit applications by July 31 to take advantage of this initiative, which aims to enhance Gujarat's position in the electronics manufacturing sector.
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Jun 22 2025, 11 ameznews.inThe Income Tax Department has announced an exemption from Tax Deducted at Source (TDS) for seventeen types of payments made to seven categories of businesses operating within the International Financial Services Centre (IFSC), effective July 1. This exemption applies to various payments, including professional fees to bookkeeping and financial compliance service providers, as well as interest on leases and freight charges. Notably, broker-dealers will not incur TDS on commission incentives from recognized stock exchanges. To benefit from this exemption, payees must submit a statement in Form No. 1 detailing their previous years for the ten consecutive assessment years for which they claim deductions. The TDS framework, designed to collect tax at the source of income, allows deductees to receive credit for taxes deducted, reinforcing the government's commitment to supporting businesses in the IFSC, which are treated as exporters under tax regulations.
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Jun 22 2025, 11 ameznews.in3F Oil Palm Private Limited has partnered with the Assam government to initiate an annual oil palm plantation drive in Dima Hasao district, as part of the National Mission on Edible Oils – Oil Palm (NMEO-OP). The project, launched at Digandu Village, will cover a 20-hectare plot owned by local farmer Maijen Hagjer, who employs sustainable agricultural practices. Srinivasarao Kilari, Vice President of 3F Oil Palm, emphasized the company's commitment to enhancing oil palm cultivation in the North-East, describing it as a potentially transformative crop for the region. He assured that the company would supply quality planting materials and provide essential technical support. 3F Oil Palm is actively involved in plantation activities across five states in India, reinforcing its role in the country's agricultural development.
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Jun 21 2025, 9 pmeznews.inIn a significant boost for mango farmers in Karnataka, the Centre and State government have announced a joint compensation plan to address falling mango prices. During a recent video conference, Union Agriculture Minister Shivaraj Singh Chouhan and Karnataka's Agriculture Minister N Chaluvaraya Swamy agreed to pay a differential price of ₹4 per kg for 2.5 lakh tonnes of mangoes, with each government contributing ₹2 per kg. This decision follows Karnataka's request for support under the price deficiency payment scheme (PDPS) for the 2025-26 marketing season. The state has cultivated mangoes across approximately 1.39 lakh hectares this season, anticipating an output of around 10 lakh tonnes. However, prices have plummeted, particularly in Srinivaspur, where totapuri mangoes have dropped to ₹450-550 per quintal, significantly below the estimated production cost of ₹5,466 per quintal, exacerbated by a ban on Karnataka mangoes in Andhra Pradesh.
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Jun 21 2025, 9 pmeznews.inThousands of bike taxi riders from across Karnataka have gathered in Bengaluru's Vidhana Soudha to protest against a state-imposed ban on their operations, demanding the introduction of a formal regulatory policy. The rally, which organizers estimate has drawn over 5,000 participants, highlights the plight of an estimated 600,000 individuals affected by the ban, many of whom are struggling to meet basic needs such as food and school fees. Riders from various towns, including Mysuru and Tumkur, describe the ban as a "cry for help," with some stating it has stripped them of their income and dignity. They argue that bike taxis are vital to Karnataka's transport ecosystem and point to existing regulatory frameworks in 19 other Indian states as a precedent. The riders are calling for a fair policy that allows them to work under oversight, emphasizing that their livelihoods—and families—depend on it.
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Jun 21 2025, 7 pmeznews.inAir India has begun providing interim compensation of ₹25 lakh (approximately GBP 21,500) to families of victims from the tragic aircraft crash that occurred shortly after takeoff from Ahmedabad airport on June 12, 2025. As of June 20, three families have received this compensation, facilitated through a centralized helpdesk established on June 15 to expedite claims processing. This interim support is in addition to the ₹1 crore (around GBP 85,000) pledged by Tata Sons. The airline is also assisting injured survivors and the families of those who lost their lives on the ground, offering comprehensive financial aid for travel, accommodation, medical, and funeral expenses. The Gujarat government has confirmed the identification of 247 victims through DNA sampling, with 232 bodies returned to families, including 175 Indian citizens, nine from Portugal, 52 British, and one Canadian.
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Jun 21 2025, 7 pmeznews.inHilton Metal Forging Ltd has announced it has received certification from RITES Ltd for the production of Vande Bharat and LHB railway wheelsets, a crucial step for commencing commercial output. The company aims to manufacture over 3,000 forged railway wagon wheelsets in FY26, with plans to scale production to more than 12,000 units by FY27. With an installed capacity of 20,000 wheelsets annually, Hilton is positioning itself as a significant player in the railway component supply chain, aligning with the Indian government's vision for a modernised rail network. This achievement marks Hilton as the first private MSME to gain such recognition under the "Make-in-India" initiative, coinciding with the Indian Railways' ambitious plan to upgrade 40,000 conventional coaches to Vande Bharat standards. The Railways Budget for 2025-26 is set at ₹2.65 lakh crore, underscoring the government's commitment to enhancing rail infrastructure.
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Jun 21 2025, 7 pm
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