Govt: Essential Commodity Prices Stable Amid West Asia Crisis
The Centre has confirmed that prices of essential commodities remain stable despite the West Asia crisis, with sufficient wheat and rice stocks for PDS and emergencies.
The Centre has confirmed that prices of essential commodities remain stable despite the West Asia crisis, with sufficient wheat and rice stocks for PDS and emergencies.
JPMorgan Chase CEO Jamie Dimon warns that the Iran conflict may trigger oil price shocks, keeping inflation elevated and pushing interest rates above market expectations.
Finance Minister Nirmala Sitharaman highlights India's robust debt position with an 81% debt-to-GDP ratio, the lowest among major economies, while warning of global economic volatility and Middle East energy threats.
The Indian government is evaluating the creation of liquefied petroleum gas reserves to buffer against supply disruptions from Nayara Energy's Vadinar refinery shutdown and Middle East tensions.
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RecommendedJPMorgan Chase CEO Jamie Dimon cautions that the Iran conflict could trigger oil and commodity price shocks, leading to persistent inflation and interest rates exceeding market forecasts.
The Centre confirms adequate wheat and rice stocks for PDS, directing states to intensify actions against hoarding and black marketing of essential food items to prevent price volatility.
A recent report has downgraded India's GDP growth forecast for FY27 to 6.8-6.9%, citing significant energy supply disruptions as a key factor impacting economic expansion.
Gold and silver prices in India are forecast to remain moderately strong in FY27, supported by geopolitical tensions, trade wars, and central bank buying, though high interest rates may limit gains.
Crude oil futures on MCX rose by Rs 91 to Rs 9,284 per barrel, a 1% increase, driven by geopolitical tensions as Trump threatens Iran over Hormuz Strait blockade.
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RecommendedA UBI report forecasts crude oil prices will not fall to $70 per barrel in 2026, instead hovering around $80-$85, posing risks to global growth and inflation.
India's service economy expanded at its softest pace in 14 months during March, as per the HSBC India Services PMI, indicating a slowdown in business activity and new orders.
India's services sector growth moderated slightly in March 2024, with the PMI easing to 57.5 from 58.1 in February, as inflation pressures intensified, according to a private survey.
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The Indian rupee strengthened by 33 paise to 92.85 against the US dollar in early trade, supported by RBI measures to cap banks' net open positions at $100 million and curb speculative bets, despite global risks from capital outflows and geopolitical tens
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RecommendedThe Indian rupee appreciated by 33 paise to 92.85 against the US dollar in early trade on Tuesday, driven by positive domestic equity trends and foreign fund inflows.
Moody's Ratings has revised India's economic growth projection down to 6% for the current fiscal, citing the West Asia conflict's effects on inflation and supply chains.
Oil prices remain above $100 per barrel as Middle East tensions escalate, disrupting Strait of Hormuz shipments. WTI and Brent crude see significant gains amid supply concerns.
Global oil prices have opened higher due to ongoing conflicts in West Asia, causing significant supply disruptions and raising concerns over market stability and inflation.
IIM Kozhikode Director Debashis Chatterjee predicts India will attract capital from the Gulf region due to its safe market, large workforce, and tech advancements amid West Asia conflict.
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RecommendedRecognizing unpaid household work, predominantly done by women, is crucial for India's GDP growth and economic development, highlighting the need for policy changes.
Street vendors in Noida and Ghaziabad face severe hardships due to LPG supply constraints, forcing many to choose between business closure and unsustainable costs. Vendors adapt with coal stoves or electric alternatives, but margins erode as fuel prices s
India's gold imports soared 28.73% to $69 billion during April-February 2025-26, driven by high prices, widening the trade deficit to $310.60 billion. Switzerland remained the top source.
Gold and silver are expected to trade with a positive bias this week as investors monitor West Asia tensions, global economic data, and RBI policy. Analysts cite recent gains and supply factors.
The Indian government has significantly increased LPG cylinder distribution and cracked down on hoarding to ensure stable supply amid potential disruptions linked to the Strait of Hormuz.
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RecommendedA State Bank of India report predicts an imminent downward revision of global GDP due to the West Asia crisis, with inflation likely to increase, impacting economies worldwide.
Moody's Investors Service has lowered India's GDP growth projection for fiscal year 2027 to 6%, citing risks from the West Asia conflict impacting oil prices and global trade.
Moody's Analytics forecasts India's GDP growth at 6% for fiscal year 2027, citing potential impacts from the West Asia conflict on inflation and trade.
Moody's Investors Service has revised India's GDP growth estimate for fiscal year 2027 down to 6% from 6.3%, citing risks from the West Asia conflict and global economic pressures.
Pune residents face travel disruptions as domestic airfares surge 25% due to ATF price hikes and removed fare caps, forcing families to cancel or split trips.
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RecommendedIndore's Choithram Mandi sees a seasonal reversal with increased vegetable arrivals from nearby regions, leading to price corrections and consumer relief amid high inflation.