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Retail inflation in India fell to 3.34% in March, down from 3.6% in February, marking the lowest year-on-year rate since August 2019, according to government data released on Tuesday. This decline is largely attributed to significant drops in food prices, particularly vegetables, which saw a deflation of over 7%, and pulses, which decreased by more than 2.7%. Food inflation overall fell to 2.69%, down from 3.75% the previous month. However, prices for edible oils and fruits rose sharply, with inflation exceeding 17% and 16%, respectively. Core inflation remained stable at 4.1%, while the fuel and light category exited deflation after 18 months. Economists anticipate a potential rate cut by the Reserve Bank of India in June, as softer-than-expected inflation may encourage a continued accommodative monetary policy. Meanwhile, wholesale price inflation also decreased to around 2% in March. 
Published: Apr 15 2025, 10 pmeznews.inThe Indian Ice-cream Manufacturers’ Association (IICMA) has invoked a famous quote by Steve Jobs to advocate for a reduction in the Goods and Services Tax (GST) on ice cream from 18% to 5%. During a meeting with Finance Minister Nirmala Sitharaman, the IICMA argued that ice cream should be taxed similarly to other dairy products, such as Indian milk sweets and flavoured milk, which are taxed at lower rates. The association highlighted that the formulation of ice cream and flavoured milk is similar, differing only in their physical states. They estimated that a reduction in GST could lead to a ₹2,600 crore loss to the exchequer but would likely increase consumption and reduce tax evasion. The IICMA emphasized that over 80% of ice cream sold in India is priced below ₹30, challenging the perception of ice cream as a luxury item and advocating for its nutritional benefits, particularly for children and undernourished populations.
Published: Apr 16 2025, 2 pmeznews.inIn a pioneering move, Central Railway (CR) has introduced an automated teller machine (ATM) aboard the Mumbai-Manmad Panchavati Express on a trial basis. The ATM, supplied by a private bank, is located in an air-conditioned chair car coach and is expected to be accessible to passengers soon. Swapnil Nila, CR's chief public relations officer, confirmed the installation, which has repurposed a cubicle at the rear of the coach that was previously used as a makeshift pantry. A shutter door has been added to ensure safety and accessibility while the train is in motion. Modifications to the coach were carried out at the Manmad Railway Workshop. The Panchavati Express, a popular daily service connecting Chhatrapati Shivaji Maharaj Terminus in Mumbai to Manmad Junction in Nashik, completes its journey in approximately 4.35 hours, making it a convenient option for intercity travel.
Published: Apr 16 2025, 1 pmeznews.inIn a recent update, the Indian stock market showed modest gains, with the SENSEX rising by 31.56 points to close at 76,766.45, while the NIFTY increased by 28.75 points to reach 23,357.30. In commodities, gold prices surged by ₹1,564 to ₹95,015, and silver rose by ₹1,436 to ₹96,210. Conversely, crude oil prices fell by ₹34 to ₹5,232. Meanwhile, concerns have emerged regarding potential cuts to the National Oceanic and Atmospheric Administration (NOAA) budget, which could impact global weather monitoring. M. Ravichandran, Secretary of the Ministry of Earth Sciences, stated that while India's forecasting capabilities would remain stable for the next 4-5 years, reduced NOAA funding could eventually hinder forecasting accuracy, particularly in the Indian and Pacific Oceans. The Trump administration's proposed 27% funding cut to NOAA raises alarms about the future of global climate data sharing.
Published: Apr 16 2025, 1 pmeznews.inAs of December 31, 2024, the Asian Development Bank (ADB) has raised its cumulative loan commitment to India to $59.5 billion, an increase from $55.3 billion in 2023. This boost includes financing of $4.25 billion for 21 projects aimed at fostering robust, climate-resilient, and inclusive growth in the country. ADB's support encompasses 657 public sector loans, grants, and technical assistance, with a current sovereign portfolio of 78 loans totaling $16.23 billion. The bank's Country Partnership Strategy for India, launched in May 2023, focuses on structural transformation, job creation, and climate resilience. Upcoming initiatives include a national skills upgradation program and projects on clean energy and transport decarbonisation. To facilitate engagement, ADB will host a seminar in Delhi on April 30, 2025, to inform stakeholders about business opportunities related to ADB-funded projects and successful case studies.
Published: Apr 16 2025, 12 pmeznews.inIn Madhya Pradesh's Khandwa district, farmers are currently storing recently harvested soyabean crops as the Soyabean Processors Association of India (SOPA) urges the government to delay the sale of soyabean stocks by NAFED and NCCF until after the upcoming sowing season. SOPA's executive director, D N Pathak, warned that selling these stocks now could lead to a decline in prices, discouraging farmers from planting and potentially causing significant losses. Currently, soyabean prices are below the minimum support price (MSP) due to weak demand and global market influences. Earlier interventions by the Ministry had halted open market sales, resulting in a price increase of nearly Rs 4,000 per ton. Pathak emphasized that postponing sales has benefited farmers and reduced losses for government agencies, advocating for a similar approach to support the agricultural sector ahead of the June sowing period.
Published: Apr 16 2025, 12 pmeznews.inAs India grapples with escalating water demands, a recent study by the Sattva Knowledge Institute (SKI) highlights the critical need for improved water data collection and accessibility. The report advocates for a hybrid approach that merges 'top-down' open data with 'bottom-up' citizen science to address significant data gaps. Currently, high-resolution data collection is costly and often limited to administrative levels, failing to capture the nuances of sub-basin water crises. The study reveals that a substantial portion of corporate investment in water conservation is directed towards data collection, underscoring its importance for informed decision-making. Notably, initiatives like the Jaldoot mobile app aim to engage local communities in data gathering, enhancing the accuracy of groundwater assessments. By integrating citizen-sourced data with existing platforms, stakeholders can better understand and mitigate the looming water crisis, ultimately benefiting both policymakers and water users across the country.
Published: Apr 16 2025, 12 pmeznews.inDomestic commercial vehicle sales are projected to reach 1 million units in FY26, with light commercial vehicles (LCVs) expected to grow by 4 to 6 percent this fiscal year, driven by the surge in e-commerce deliveries and the expansion of warehouses in Tier 2 and Tier 3 cities. According to Crisil, LCVs will account for 62 percent of total sales, while overall commercial vehicle volume is anticipated to increase by 3 to 5 percent, rebounding from last year's slowdown. This growth is supported by a revival in infrastructure projects, bolstered by a 10-11 percent rise in central government capital expenditure. Additionally, medium and heavy commercial vehicle prices are set to rise by at least ₹30,000 per unit due to new regulatory requirements, with manufacturers implementing price hikes of up to 3 percent. Leading companies are also planning significant capital expenditures to enhance safety and compliance with emission standards.
Published: Apr 16 2025, 12 pmeznews.inExporters are closely monitoring the cardamom market as stock levels from the previous season, impacted by limited sales during Ramadan, continue to influence trade dynamics. With the cardamom-growing regions in Kerala experiencing beneficial summer rains, farmers are optimistic about a robust harvest starting in July. Current prices have dipped to ₹2,500 per kg, but traders anticipate increased earnings due to potential export inquiries for Bakrid from Gulf nations. Despite subdued demand post-festival season, the outlook remains cautiously optimistic, as last year's drought followed a similar rainy pattern. Exporter SKM Dhanavanthan noted that the 2025 season is off to a promising start, with better-than-expected crop arrivals. However, concerns over speculative hoarding and price inflation could hinder trade, emphasizing the need for a transparent market to capitalize on Bakrid-driven demand. Analysts predict that while prices may remain elevated due to global supply constraints, improved crop conditions could lead to stabilization as the new harvest arrives.
Published: Apr 16 2025, 12 pmeznews.inA project aimed at revitalizing the Sawangi canal in Nagpur has successfully enhanced the fertility of approximately 400 hectares of land, benefiting 200 families with improved access to drinking water and irrigation for livestock. Launched in February 2024, the initiative involved the widening and deepening of a 4.11-kilometre stretch of the canal, significantly boosting groundwater levels and elevating the living standards of local farmers and wildlife. This effort, part of a corporate social responsibility programme by Allcargo Group's Avashya Foundation in partnership with local NGOs, focused on desilting and restoring the canal to optimize water storage and prevent soil erosion. The project has created 100,000 cubic metres of surface water storage and contributes 225,000 cubic metres of groundwater annually, supporting over 1,200 farmers. Union minister Nitin Gadkari praised the initiative, emphasizing the need for similar projects to combat farmer suicides in the Vidarbha region.
Published: Apr 16 2025, 11 ameznews.inIndia and Italy are advancing their defence collaboration, focusing on enhancing information-sharing through the Trans Regional Maritime Network (T-RMN), which India joined in 2018. During a two-day visit to Rome, Defence Secretary Rajesh Kumar Singh co-chaired the 11th India-Italy Joint Defence Committee meeting with Italian counterpart Luisa Riccardi, discussing maritime cooperation and security issues, particularly in the Indian Ocean Region, where Chinese naval presence is growing. The T-RMN facilitates mutual information exchange among member nations to ensure prompt responses to maritime challenges. Singh emphasized the importance of closer defence ties, especially in technology and armament production, highlighting India's efforts to foster a robust defence production ecosystem. A significant outcome of the visit was the signing of a Memorandum of Understanding between the Society of Indian Defence Manufacturers and its Italian counterpart, aimed at promoting joint ventures and technology partnerships between the two countries' defence industries.
Published: Apr 16 2025, 11 am
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