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The Reserve Bank of India's latest monthly bulletin presents an optimistic growth outlook for the second half of FY26, following a five-quarter high GDP growth of 7.8% in Q1:2025-26. Despite challenges posed by high US import tariffs, RBI officials highlighted the economy's resilience, bolstered by an S&P sovereign rating upgrade that reflects strong macro-fundamentals. High-frequency indicators for August reveal manufacturing and services activity at a decadal peak, while healthy corporate balance sheets and ongoing structural reforms, including landmark GST changes, are expected to enhance the ease of doing business and stimulate consumption. Additionally, increased kharif sowing is anticipated to support agricultural growth and stabilize food prices. The effective transmission of monetary policy easing, alongside income-tax relief and job creation initiatives, sets the stage for a sustained rise in consumption demand, potentially fostering a cycle of higher investments and robust economic growth amid global uncertainties. 
Published: Sep 24 2025, 9 pmeznews.inFinance Minister Nirmala Sitharaman officially launched the GST Appellate Tribunal (GSTAT) on Wednesday, heralding a new era of "One Nation, One Forum for Fairness and Certainty." The tribunal, which has evolved since its inception in 2017, aims to simplify the appeals process for taxpayers and businesses, promoting justice and economic growth. Sitharaman emphasized the need for clear, jargon-free decisions, digital filings, and timely hearings to reduce legal frictions and enhance cash flow for MSMEs and exporters. GSTAT will begin accepting appeals by the end of this month, with hearings set to commence in December. It will serve as the second appellate authority under the GST framework, addressing appeals across all four GST laws. Tax experts highlight the importance of this tribunal in clearing backlogs and ensuring timely appeals, reinforcing India's commitment to improving the ease of doing business.
Published: Sep 24 2025, 9 pmeznews.inIn a significant move to enhance sustainability in the palm oil sector, the Asian Palm Oil Alliance (APOA), the Council of Palm Oil Producing Countries (CPOPC), and Solidaridad Network Asia Limited (SNAL) have signed a three-year Memorandum of Understanding (MoU) in Mumbai. This agreement aims to strengthen collaboration between producers and consumers, particularly in India and South Asia, focusing on sustainable practices and traceable sourcing. CPOPC will advocate for sustainable palm oil, aligning with frameworks like Indonesia Sustainable Palm Oil (ISPO) and Malaysian Sustainable Palm Oil (MSPO). The partnership will establish a Joint Working Group to oversee initiatives, promote smallholder inclusion, and enhance market confidence. With India relying on imports for over 60% of its edible oil needs, the MoU is expected to deepen economic ties and ensure a stable supply chain, addressing food security and price stability concerns in the region.
Published: Sep 24 2025, 9 pmeznews.inDespite Bangladesh's approval to export 1,200 tonnes of hilsa fish, Indian consumers may have to opt for less desirable alternatives from Myanmar or Gujarat this festive season. High prices have deterred imports, with only 80 tonnes of the prized 'Padma ilish' arriving in West Bengal since the first shipment on September 17. Traders are facing losses due to the steep costs, with hilsa from Bangladesh selling for ₹1,900-2,000 per kilogram, while local and Myanmar alternatives are priced significantly lower at ₹900-1,000 per kilogram. Fish importers have expressed concerns over the lack of demand at these elevated prices, leading to a halt in further imports. As a result, the average price of hilsa in Kolkata markets has dropped by ₹200-300 per kilogram in recent weeks, reflecting the increased availability of cheaper options.
Published: Sep 24 2025, 9 pmeznews.inThe competition to develop India's Advanced Medium Combat Aircraft (AMCA), a 5th-generation stealth fighter jet, has gained momentum as a consortium led by Larsen & Toubro (L&T) and Bharat Electronics Ltd (BEL) has formally expressed interest in the ₹15,000 crore project. This marks a significant shift, as it is the first private sector-led consortium to enter the race, traditionally dominated by state-run Hindustan Aeronautics Limited (HAL). With a deadline for bids extended to September 30, additional proposals from other private players, including Adani Defence & Aerospace, are anticipated. The AMCA programme, approved by the Cabinet Committee on Security in March 2024, aims to produce five prototypes within five years, with the Defence Research and Development Organisation (DRDO) leading the initiative. The L&T-BEL partnership is seen as a pivotal move towards modernising India's defence capabilities and fostering a multi-vendor approach in aerospace manufacturing.
Published: Sep 24 2025, 8 pmeznews.inUnion Minister for Consumer Affairs, Food and Public Distribution, Pralhad Joshi, addressed the Roller Flour Millers’ Federation in New Delhi, firmly rejecting calls to permit wheat exports until after the next harvest in April 2026. While acknowledging the rising demand for wheat, Joshi emphasized that food security remains the government's top priority. The federation's president, Navneet Chitlangia, argued for a phased approach to exporting wheat products, citing surplus stocks and the potential to enhance farmers' earnings and position India as a reliable global supplier. Despite the current disparity in pricing compared to global markets, Chitlangia urged the government to consider exports for the Indian diaspora. Joshi noted that multiple ministries are involved in export decisions and reiterated the need for adequate buffer stocks to stabilize prices. The federation also called for a comprehensive review of the government's wheat policy and various tax reductions related to flour milling.
Published: Sep 24 2025, 8 pmeznews.inAt the 80th United Nations General Assembly in New York, India's External Affairs Minister S. Jaishankar emphasized the need for the Global South to leverage existing forums to bolster solidarity and collaboration amid growing global uncertainties. Speaking at a high-level meeting of Like-Minded Global South Countries, he highlighted the pressing challenges faced by developing nations, including trade volatility, investment uncertainties, and the impact of the Covid pandemic, alongside ongoing conflicts in Ukraine and Gaza. Jaishankar urged these countries to build resilient supply chains to reduce reliance on single suppliers and markets. He proposed that developing nations share their unique strengths in areas such as vaccine production, digital capabilities, and climate action initiatives tailored to their needs. Additionally, he called for discussions on emerging technologies like AI and advocated for reforms in the United Nations and multilateralism to better represent the interests of the Global South.
Published: Sep 24 2025, 8 pmeznews.inCommerce Minister Piyush Goyal is currently in the US for trade negotiations, amid American pressure on India to reduce its Russian crude oil imports. Goyal expressed optimism about increasing energy trade with the US, highlighting the importance of energy security and price stability in fostering a closer partnership. Since President Donald Trump resumed office in January 2025, India has ramped up engagement with US energy suppliers, with American crude oil imports averaging 282,000 barrels per day from January to August 2025, a significant rise from the previous year. However, while the US share of India's crude imports increased to around 4% in FY25, logistical challenges limit the potential for further growth, as India primarily requires light sweet grades that do not meet its diesel-heavy demand. Additionally, longer shipping times from the US compared to Russian and Middle Eastern sources pose further constraints on scaling up imports.
Published: Sep 24 2025, 8 pmeznews.inIn a significant announcement, Railway Minister Ashwini Vaishnaw revealed that approximately 1.1 million railway employees will receive a productivity-linked bonus equivalent to 78 days' wages for the current fiscal year, following the Cabinet Committee on Economic Affairs' (CCEA) approval of a ₹1,886 crore proposal. This annual bonus is typically disbursed before the Durga Puja and Dussehra festivals. Additionally, the Cabinet approved Phase-III of a scheme aimed at enhancing medical education, which will increase postgraduate seats by 5,000 and MBBS seats by 5,023 in government medical colleges. A ₹2,277 crore initiative, the Capacity Building and Human Resource Development (CBHRD) scheme, was also greenlit to bolster research and innovation. Furthermore, the CCEA sanctioned infrastructure projects in Bihar, including a ₹3,822 crore four-lane highway and a ₹2,192 crore railway line doubling, ahead of the upcoming assembly elections.
Published: Sep 24 2025, 8 pmeznews.inIn a bid to enhance operational efficiency, the Comptroller and Auditor General of India (CAG) has formalised a partnership with the Central Board of Direct Taxes (CBDT) through a memorandum of understanding (MoU) signed on Wednesday. The agreement, signed by CBDT Chairman Ravi Agrawal and Deputy CAG A M Bajaj, aims to foster collaboration in academic, training, and research initiatives, particularly in data-driven technology. CAG K Sanjay Murthy highlighted that the MoU will bridge skills gaps and promote mutual growth through training workshops, joint seminars, and advanced data analytics in areas like Goods and Services Tax (GST) audits. The partnership is expected to enhance transparency, operational effectiveness, and regulatory changes, with CAG officials receiving training in emerging technologies such as artificial intelligence. Agrawal noted that this collaboration will improve tax administration and the learning curve for officials in the Income Tax Department.
Published: Sep 24 2025, 7 pm
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