India's Forex Reserves Drop $11.4 Billion as Gold Falls Sharply
India's foreign exchange reserves fell by $11.413 billion to $698.346 billion in the week ended March 20, driven by a sharp drop in gold holdings, according to RBI data.
Category : Economy
Gold Market Shifts to Investment-Led Demand Amid Uncertainty
Central banks have purchased over 1,000 tonnes of gold annually from FY2023 to FY2025, fueling investment-led demand and supporting prices during global economic and geopolitical uncertainties.
Fuel Duty Cut, Iran Deaths Top 1,900 in US-Israel Strikes
The Indian government announces a significant reduction in excise duty on petrol and diesel to ease consumer burden. Meanwhile, Iran reports over 1,900 fatalities since the start of US-Israel military strikes, escalating regional tensions.
Sitharaman: Fiscal Prudence, No Lockdown Amid Global Oil Crisis
Finance Minister Nirmala Sitharaman assures fiscal deficit control and consumer protection from rising oil prices, while debunking lockdown rumors and highlighting India's stable fuel pricing.
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Govt Fuel, LPG Decisions to Ease Burden Amid Gulf Tensions
Minister of State Raosaheb Danve announced that recent government decisions on petrol, diesel, and LPG pricing are aimed at providing relief to consumers, especially in light of the ongoing conflict in the Gulf region.
Sitharaman: No Lockdown, Fiscal Discipline Amid Oil Prices
Finance Minister Nirmala Sitharaman clarifies no lockdown proposals exist, commits to fiscal deficit control while shielding citizens from global oil price impacts.
Fuel Tax Cut Fails to Lower Petrol and Diesel Prices in India
Despite a significant ₹10 per liter excise duty reduction on fuel, petrol and diesel prices in India remain stable. The government is using the tax cut to offset losses for oil companies amid surging global crude prices, prioritizing inflation control ove
India Cuts Fuel Duties, Forms Panel on Middle East Crisis
The Indian government reduces excise duties on petrol and diesel, forms an inter-ministerial group led by Rajnath Singh, and sees US calls for deeper defence ties amid Middle East tensions.
India's Forex Reserves Drop $11.41 Billion to $698.346 Billion
India's foreign exchange reserves have decreased by $11.41 billion, reaching $698.346 billion, according to the latest RBI data. This follows a record high earlier in the year.
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India Hikes Commercial LPG Supply to 70% Amid Tensions
The Indian government has increased commercial LPG supply to 70% of pre-war demand levels to ensure energy security and stabilize prices amid ongoing West Asia tensions.
India Imposes Export Duties on Diesel, Cuts Fuel Excise
The Indian government has imposed export duties on diesel and turbine fuel to improve domestic availability, while reducing excise duties on petrol and diesel to support consumers and OMCs.
Rupee Hits Record Low of 94.30 vs Dollar on War, Outflows
The Indian rupee plunged to a historic low of 94.30 against the US dollar, driven by foreign investor outflows and oil price surges from the US-Iran conflict, worsening inflation and deficits.
India Increases LPG Allocation to 70% for Industries
The Indian government has raised commercial LPG allocation to 70% to support key industries like steel and textiles, ensuring energy security during the Middle East conflict.
India Cuts Fuel Taxes Amid Global Oil Price Surge
The Indian government has slashed excise duties on petrol and diesel to absorb the impact of soaring global crude prices triggered by Middle East conflicts. Retail fuel prices are expected to remain stable despite the tax cuts.
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FM Sitharaman Dismisses Lockdown Rumors Amid Fuel Crisis
Finance Minister Nirmala Sitharaman denies reports of a lockdown due to West Asia conflict, announces excise duty cuts to stabilize fuel prices and ensure supply.
India's Fuel Tax Shift: Export Duties Up, Domestic Taxes Down
In response to the Middle East conflict disrupting oil supplies, India has raised export duties on diesel and ATF while reducing excise duties on domestic petrol and diesel to protect consumers.
Rupee Crashes to Record Low of 94.29 per Dollar
The Indian rupee fell 33 paise to a historic low of 94.29 against the US dollar, driven by surging oil prices, a strong dollar, and West Asia conflict tensions.
India Cuts Fuel Duty, Raises Export Costs to Protect Consumers
The Indian government has reduced excise duty on petrol and diesel by Rs 10 per litre while imposing new export taxes on fuel shipments to ensure domestic availability amid global supply concerns.
India Cuts Fuel Excise Duties Amid Global Oil Price Surge
The Indian government has drastically reduced excise duties on petrol and diesel, eliminating the levy on diesel and cutting petrol duty to Rs 3 per litre, in response to soaring crude oil prices driven by the West Asia crisis.
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Fuel Duty Cut to Shield Indians from Global Price Surge
Union Minister Hardeep Singh Puri announced excise duty reductions on petrol and diesel, citing global energy price volatility due to Middle East conflicts and Strait of Hormuz disruptions.
India Reduces Fuel Taxes as Global Oil Crisis Hits Neighbours
The Modi government has reduced excise duties on petrol and diesel to shield consumers from global oil market volatility. India's proactive supply strategy contrasts sharply with Pakistan's rising fuel costs.
Petrol, Diesel Prices Fall After Excise Duty Cut by Government
The Indian government has reduced excise duty on petrol and diesel, leading to lower fuel prices across major cities like Delhi, Mumbai, Bengaluru, and Chennai as of March 27.
Rupee Hits Record Low of 94.24 vs Dollar Amid Iran Crisis
The Indian rupee extended its losing streak, falling 28 paisa to a fresh record low of 94.24 against the US dollar in early trade on Friday, dragged by Middle East tensions and foreign institutional investor outflows.
Rupee Hits Record Low of 94.1550 Against Dollar
The Indian rupee extended its losing streak, falling 0.2% to a fresh record low of 94.1550 against the US dollar. Persistent FII outflows and Middle East tensions continue to weigh on sentiment, despite supportive cues like lower crude prices.
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Govt Cuts Excise Duty on Petrol, Diesel by Rs 10 per Litre
In a major relief for consumers, the Indian government has reduced excise duty on petrol and diesel by Rs 10 per litre. This move aims to ease inflationary pressures and support the economy during global uncertainties.
India Reduces Fuel Duties as Middle East Conflict Impacts Oil
India has revised fuel duties, lowering petrol excise to Rs 3/litre and removing it on diesel, amid global oil supply disruptions from the Middle East conflict affecting crude prices.
India Cuts Special Additional Excise Duties on Fuel
The Indian government has reduced special additional excise duties on petrol and diesel to provide relief to consumers and manage inflation. This move aims to lower fuel prices and support economic stability.
Revised GDP Data Tests Fiscal Devolution Fairness to States
The recent revision of India's GDP data has sparked a debate on the fairness of fiscal devolution to states, raising concerns about resource allocation and economic equity.
Kolkata Mini Cylinder Price Hits Rs 900 Due to Middle East War
In Kolkata, mini cylinder refill costs have skyrocketed from Rs 50 to Rs 900 due to the Israel-Iran war, causing shortages and forcing daily workers to eat out as gas supply remains disrupted.
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India GDP Growth Forecast: 7.6% FY26, 6.1% FY27 by OECD
The OECD forecasts India's GDP growth at 7.6% for FY26 and 6.1% for FY27, highlighting global economic risks from West Asia conflicts and inflation pressures.
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