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A well-marked low-pressure system over the Bay of Bengal is expected to intensify into a deep depression, according to the India Meteorological Department (IMD). The system, located off the Andhra Pradesh-Odisha coasts, is forecasted to move north-northwest and strengthen before making landfall on Friday morning. Heavy rainfall has already been reported across various regions in East India, including Assam, Meghalaya, and parts of West Bengal, with isolated extremely heavy rain anticipated in Odisha. Meanwhile, another low-pressure area in the north-east Arabian Sea is also developing but is expected to move away from the coast into the high seas. The IMD has noted that the ongoing monsoon transition period is conducive for storm formation, although the Bay system is not expected to escalate into a full cyclone. Rainfall is also expected to increase in North-West India due to a forthcoming western disturbance. 
Published: Oct 01 2025, 6 pmeznews.inA free trade agreement between India and the European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland, came into effect on Wednesday, promising an investment commitment of $100 billion over 15 years. Signed on March 10, 2024, the agreement aims to enhance trade, investment, and job creation, with Commerce and Industry Minister Piyush Goyal calling it a "historic day." The pact will lower or eliminate duties on Swiss products like watches and chocolates, benefiting Indian consumers. India will offer tariff concessions on 82.7% of its product categories, while excluding sensitive sectors such as dairy and coal. The agreement is expected to create one million direct jobs in India and facilitate deeper economic ties, with two-way trade reaching $24.41 billion in the last fiscal year. India is also pursuing a separate comprehensive free trade agreement with the EU.
Published: Oct 01 2025, 9 pmeznews.inThe Assam Cabinet has approved a ₹6,957 crore project to widen the Kaliabor-Numaligarh section of NH-715, previously known as NH-37, which currently features a two-lane configuration through the densely populated towns of Jakhlabandha and Bokakhat. Spanning 85.675 km, the project will be executed under the engineering, procurement, and construction (EPC) model and aims to enhance road safety and traffic flow. Notably, the highway runs adjacent to Kaziranga National Park, where wildlife frequently crosses the road, leading to accidents, particularly during monsoon flooding. The project will incorporate wildlife-friendly measures to mitigate these risks. Additionally, the new alignment will connect with two major national highways and a state highway, improving access to vital economic and logistical hubs across Assam. The initiative is expected to significantly enhance transportation infrastructure while addressing environmental concerns.
Published: Oct 01 2025, 7 pmeznews.inThe Reserve Bank of India (RBI) maintained its key policy rate on Wednesday while significantly lowering its inflation forecast for the fiscal year to 2.6%, down from 3.1%. This decision comes amid findings from the RBI's household inflation expectations survey, conducted from August 28 to September 6, which indicated that while current inflation perceptions rose slightly, expectations for the next three months and the following year decreased. Households reported a reduction in price pressures across major categories, including food and housing. Additionally, consumer confidence showed a slight uptick in both urban and rural areas, remaining in optimistic territory for the year ahead. The RBI emphasized that the direction of change in inflation expectations is more critical than the absolute figures, reflecting a potential easing of economic pressures.
Published: Oct 01 2025, 7 pmeznews.inFrom September 22, prices of 375 items, ranging from kitchen staples to electronics and automobiles, saw a reduction following the implementation of GST 2.0 reforms aimed at rate rationalisation. This change contributed to a near double-digit growth in Goods and Services Tax (GST) collections, which reached ₹1.89 lakh crore in September, marking a 9.1% increase compared to the same month last year. Despite a rise in GST refunds by 40.1% year-on-year to ₹28,657 crore, net GST revenue recorded a 5% growth, amounting to ₹1.60 lakh crore. Analysts noted that the increase in collections suggests sustained economic activity, with average monthly collections for FY26 nearing ₹2 lakh crore, a significant rise from ₹1.8 lakh crore in FY25. However, challenges remain in manufacturing states due to inter-state supply slowdowns and vehicle shortages.
Published: Oct 01 2025, 6 pmeznews.inThe Indian Cabinet has approved the "Mission for Aatmanirbharta in Pulses," aiming to boost pulse production from 25 million tonnes to 35 million tonnes over five years, with an investment of ₹11,440 crore. Alongside this initiative, the government announced a 4-10% increase in minimum support prices (MSPs) for Rabi crops, including wheat, chana, mustard, and masur, to ensure better returns for farmers. The new MSPs will see wheat priced at ₹2,585 per quintal and masur at ₹7,000 per quintal, among others. The mission, part of the 2025-26 Budget, targets self-sufficiency in pulses by 2030-31, focusing on crops like tur, urad, and masur, with assured procurement from registered farmers. The government also plans to enhance monitoring of global pulse prices and distribute 126 lakh quintals of certified seeds to farmers, aiming to increase the area under pulses to 310 lakh hectares.
Published: Oct 01 2025, 6 pmeznews.inSwitzerland's State Secretary for Economic Affairs, Helene Budliger, hailed the recent implementation of the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA) as a pivotal moment for enhancing economic ties. The agreement, which cuts tariffs on 92.2% of Indian products, is expected to facilitate $100 billion in investments from EFTA nations—Switzerland, Norway, Iceland, and Liechtenstein—over the next 15 years. Budliger emphasized that the deal, the result of 16 years of negotiations, is not a reaction to current global trade tensions, particularly with the US, but rather a reflection of a long-standing commitment to India. She expressed optimism about India's economic trajectory, referencing Commerce Minister Piyush Goyal's vision of a $30 trillion economy in 30 years. With over 330 Swiss companies operating in India, Budliger is confident that the investment target will be met, contingent on favorable regulatory conditions.
Published: Oct 01 2025, 6 pmeznews.inThe Indian government has announced a 6.59% increase in the minimum support price (MSP) for wheat, raising it to ₹2,585 per quintal for the 2026-27 marketing year, following a Cabinet meeting chaired by Prime Minister Narendra Modi. This marks an increase from last year's MSP of ₹2,425 per quintal for the 2025-26 marketing year. Wheat, the primary rabi (winter) crop, is sown from late October and harvested from March, with the marketing year commencing in April. Information and Broadcasting Minister Ashwini Vaishnaw confirmed that the MSP for six rabi crops has been approved, based on recommendations from the Commission for Agricultural Costs and Prices (CACP). The government has set an ambitious wheat production target of 119 million tonnes for the 2025-26 crop year, up from an estimated 117.5 million tonnes for 2024-25.
Published: Oct 01 2025, 4 pmeznews.inThe Reserve Bank of India (RBI) has revised its GDP growth projection for the financial year 2025-26, increasing it by 30 basis points to 6.8%, while also cutting the retail inflation forecast by 50 basis points to 2.6%. Governor Sanjay Malhotra noted that the growth outlook remains robust, bolstered by domestic factors despite weak external demand, and is expected to benefit from a favorable monsoon, lower inflation, and recent GST reforms. However, he acknowledged that growth is still below aspirations. The RBI's quarterly GDP projections for FY26 have been adjusted, with Q2 at 7.0%, Q3 at 6.4%, and Q4 at 6.2%. Conversely, the Q1 FY27 growth forecast has been lowered to 6.4%. Retail inflation estimates for FY26 have also been reduced, with Q2 and Q3 both at 1.8%, and Q4 at 4.0%. CPI inflation for Q1 FY27 is projected at 4.5%.
Published: Oct 01 2025, 11 ameznews.inEmerging twin depressions over the Arabian Sea and the Bay of Bengal are set to extend the southwest monsoon's influence into October, delaying its withdrawal from the Indian subcontinent. The India Meteorological Department (IMD) reported that the monsoon's withdrawal line, which typically marks the end of the season, continues through several states, following a September that saw a seasonal surplus of 108% above normal rainfall. A well-marked low-pressure area off the Saurashtra coast is expected to intensify into a depression, while another low-pressure system in the Bay of Bengal is forecast to strengthen and cross the Odisha and Andhra Pradesh coasts by Friday. Heavy rainfall is anticipated across various regions, including Odisha, West Bengal, and the northeastern states, with isolated heavy showers expected in parts of the South Peninsula and North-West India in the coming days.
Published: Oct 01 2025, 10 am
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