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A recent report by Bank of Baroda highlights that Uttar Pradesh, Maharashtra, Madhya Pradesh, Karnataka, and Rajasthan are set to be the leading contributors to state revenues in India, with total receipts for all 26 states projected to rise by 10.6% to ₹69.4 lakh crore in FY26. The report indicates that these five states will account for nearly half of the total capital outlay, which is expected to increase from ₹8.7 lakh crore in FY25 to ₹10.2 lakh crore in FY26. Uttar Pradesh is anticipated to lead with a 16.3% share, followed by Gujarat, Maharashtra, Madhya Pradesh, and Karnataka. Additionally, the report notes that 12 states are expected to maintain fiscal deficit targets, with 13 states projected to achieve revenue surpluses. Overall, the financial outlook for FY26 appears optimistic, with significant growth anticipated across various sectors. 
Published: Jun 23 2025, 8 ameznews.inIndia's basmati rice exports to Iran are facing significant disruptions, with approximately 100,000 tonnes of rice stranded at Indian ports due to the ongoing Israel-Iran conflict. Satish Goyal, president of the All India Rice Exporters Association, highlighted that Iran accounts for 18-20% of India's basmati rice exports, and the shipments are primarily held up at Kandla and Mundra ports in Gujarat. The conflict has rendered vessels and insurance unavailable for Iran-bound cargo, as standard shipping policies typically exclude international conflicts. This situation has already led to a ₹4-5 per kg drop in domestic basmati rice prices, causing financial strain for exporters. The association is coordinating with the agri-export promotion body APEDA and has scheduled a meeting with Union Commerce Minister Piyush Goyal on June 30 to address the crisis. Iran is India's second-largest market for basmati rice, following Saudi Arabia.
Published: Jun 23 2025, 3 pmeznews.inThe Indian Army has ordered approximately 450 NAGASTRA-1R loitering munitions from Solar Defence and Aerospace Limited (SDAL), which boasts a cost-effective design featuring a reusable launcher and advanced capabilities, including a 360-degree gimbal camera and thermal imaging for night operations. The system, with over 80% indigenous content, offers high precision targeting with a 2-meter Circular Error Probable (CEP) and secure video and telemetry communication. Recent trials conducted in Ladakh and Uttar Pradesh confirmed the system's operational effectiveness. Additionally, SDAL successfully tested its hybrid VTOL UAV, Rudrastra, at the Pokharan Firing Range, demonstrating a mission radius exceeding 50 km and a total operational range of over 170 km. The UAV's trial included the deployment of a precision-guided anti-personnel warhead, achieving significant tactical effectiveness. These advancements underscore India's commitment to indigenized defense technologies and the Aatmanirbhar Bharat initiative.
Published: Jun 23 2025, 3 pmeznews.inUnion Minister for Petroleum and Natural Gas, Hardeep Singh Puri, has stated that India is closely monitoring the geopolitical tensions in the Middle East, particularly in light of the recent Iran-Israel conflict. He emphasized that India has diversified its oil procurement sources, significantly reducing reliance on the Strait of Hormuz, which now accounts for only 1.5-2 million of the 5.5 million barrels of crude oil consumed daily. Puri assured that India's Oil Marketing Companies have sufficient supplies and are prepared to ensure fuel stability for citizens. A recent review of maritime security for oil and gas installations highlighted the potential risks posed by the conflict, which could lead to increased global freight rates and inflationary pressures on energy costs. Experts warn that any blockade, while unlikely, could disrupt India's oil trade and refining system, further complicating logistics and trade routes.
Published: Jun 23 2025, 2 pmeznews.inThe Sensex closed at 82,037.14, down 371.03 points, while the Nifty fell by 97.30 points to settle at 25,015.10. Crude oil prices decreased by 25.00 to reach 6,379.00, although silver saw a rise of 655.00, now priced at 106,879.00. In a significant move towards sustainable agriculture, the Solar Energy Corporation of India (SECI) is finalising a tender for the production of 724,000 tonnes of green ammonia annually across 13 fertilizer plants. This initiative aims to transition from fossil fuel-based ammonia production, which contributes to greenhouse gas emissions, to a greener alternative using renewable energy. The government is supporting this transition with financial incentives under the National Green Hydrogen Mission, offering Production Linked Incentives to ensure market stability. This shift is expected to reduce India's reliance on imported natural gas, lower trade deficits, and significantly cut carbon emissions associated with ammonia production.
Published: Jun 23 2025, 2 pmeznews.inThe Chairman of Deendayal Port Authority, Sushil Kumar Singh, has pledged to enhance the supply chain for edible oil through significant infrastructure improvements and collaboration with stakeholders. In a recent meeting with the Indian Vegetable Oil Producers’ Association (IVPA), Singh outlined plans to install new 14-inch pipelines and prepare two additional berths for efficient oil discharge, aimed at reducing congestion and improving vessel turnaround times. He acknowledged the IVPA's concerns regarding penal berth hire charges for delayed discharges, advocating for a system that avoids shifting vessels to outer anchorage. Singh emphasized the need for coordinated efforts between port officials and importers to minimize delays and ensure timely discharge operations. He also encouraged vessel agents to proactively identify potential issues during daily meetings to facilitate smoother operations. Singh's commitment to stakeholder engagement is seen as vital for streamlining processes and enhancing operational efficiency at Kandla Port.
Published: Jun 23 2025, 2 pmeznews.inIndia has made significant strides in reducing its reliance on foreign defence imports, marking a pivotal shift in its military strategy over the past 14 years. Once the world's largest importer of defence equipment, accounting for 11% of global imports in 2010, India has now dropped to fourth place, sharing this position with Qatar, Saudi Arabia, South Korea, and Australia, each holding a 4% share. This decline is attributed to a concerted effort towards indigenisation and bolstering domestic manufacturing capabilities. A recent report by Kotak Mutual Fund highlights that India's defence exports have surged, achieving a compound annual growth rate of 41% since 2017, rising from ₹15 billion to ₹236 billion by 2024. This transformation not only enhances national security but also fosters economic growth, as India increasingly positions itself as a self-reliant player in the global defence market.
Published: Jun 23 2025, 12 pmeznews.inIn a significant agricultural development, farmers in Salangipada village, Nuapada district of Odisha, have initiated oil palm cultivation under the National Oil Palm Mission. Indramani Panigrahi has planted approximately 700 oil palm seedlings, marking a step towards expanding this lucrative crop in the region. The event was attended by local officials, including Harekrushna Hansda, the District Horticulture Officer, and sarpach Santoshi Suna. A consultant from MK Agrotech Pvt Ltd announced plans to cultivate around 3,000 hectares across Nuapada and Balangir districts over the next three years, indicating a growing interest in oil palm farming in Odisha. This initiative aims to enhance local agriculture and contribute to the state's economy, aligning with national efforts to boost oil palm production.
Published: Jun 23 2025, 12 pmeznews.inA group of journalists recently embarked on an eco-tourism adventure along the Kinabatangan River, organized by the Malaysian Palm Oil Council (MPOC). Their journey through the 2,632-hectare Sungai Pin Conservation Area (SPnCA) highlighted Malaysia's rich biodiversity, home to endangered species like orangutans, proboscis monkeys, and various birds. The SPnCA, established by Sawit Kinabalu Group, is part of a broader commitment to sustainable palm oil production, aligning with the Paris Agreement and the Malaysian Sustainable Palm Oil (MSPO) certification. This initiative emphasizes the importance of biodiversity in agricultural viability, with companies increasingly recognizing the link between healthy ecosystems and productivity. The area is also undergoing IUCN Green List Certification, with plans to plant one million trees by 2027. As the palm oil industry faces challenges, innovative technologies are being employed to enhance environmental stewardship, ensuring that economic growth and conservation efforts progress together.
Published: Jun 23 2025, 12 pmeznews.inIndia's private sector activity surged in June, driven by a significant increase in production to meet rising domestic and international demand, as reported by the HSBC Flash India Composite Purchasing Managers' Index (PMI). The index climbed to a 14-month high of 61.0, up from 59.3 in May, marking nearly four years of continuous growth. Notably, new export business reached its highest level since data collection began in September 2014, although service providers experienced slower export growth. Manufacturing employment growth hit a record high, while service providers also added jobs, albeit at a reduced pace. Despite easing price pressures and a decline in inflation to a six-year low, business confidence fell to its lowest in over two years, with manufacturers showing slight optimism and service providers tempering expectations for the future. The Reserve Bank of India is expected to focus on supporting economic growth amid rising uncertainties.
Published: Jun 23 2025, 11 ameznews.inAs conflict zones increasingly burden airlines, concerns over the safety of commercial air traffic have intensified following recent U.S. strikes on Iranian nuclear sites. Many airlines have suspended flights to the Middle East, with airspace from Iran to the Mediterranean largely devoid of commercial traffic for over a week. While some international carriers, such as Singapore Airlines and British Airways, have tentatively resumed services to Dubai and Doha, others like Air France KLM continue to cancel flights due to safety fears. The ongoing conflict has forced airlines to reroute flights, incurring higher operational costs amid rising oil prices. Additionally, reports of GPS interference and location spoofing in the region have raised alarms about potential risks to aircraft. Local carriers in Jordan, Lebanon, and Iraq are cautiously resuming operations, while Israel is ramping up flights to facilitate the return of its citizens amid the escalating tensions.
Published: Jun 23 2025, 11 am
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