Economy

Power plants to run without maintenance in June-July as Centre prepares for peak demand of 283 GW amid severe heatwave conditions.

The central government had earlier raised DA for central employees under the 7th Pay Commission framework, and many state governments subsequently announced matching or near-matching hikes for their own workforces.

If India's imported crude oil basket averages around $100 per barrel, the country's CAD is projected to widen to 2.5% of GDP in FY27. ''This scenario would require roughly $100 billion in capital inflows to fund the deficit,'' she said.

Goyal also ruled out any immediate move to curb non-essential imports, even as the rupee remains under pressure against the US dollar and crude oil prices stay elevated due to the conflict in Middle East.

The UAE does have an existing pipeline — the Abu Dhabi Crude Oil Pipeline — running to Fujairah, but it is estimated to handle only 1.5-1.8 million barrels per day, a fraction of what previously moved through Hormuz.

The sharp rise in surplus comes after a year in which the RBI benefited from currency volatility, gains on foreign exchange operations and returns from investments.

On Wednesday, the RBI announced a $5 billion swap auction to infuse liquidity in the banking system and also boost the RBI's dollar reserves in the immediate term.

Amazon founder Jeff Bezos said he would "advocate" for reducing the federal income tax burden on lower-income households from roughly 3% of total tax collections to zero.

According to Gopinath, a spike to those levels would severely hurt both the global economy and India, which relies heavily on the Middle East for energy imports.

The UK and GCC signed a landmark free-trade agreement expected to boost the British economy by 3.7 billion Pounds ($5 billion) annually.

The power ministry has projected that the peak power demand would reach 270 GW this summer.

Weak participation continued in RBI's VRR auction despite expectations of tighter liquidity due to GST-related outflows this week.

RBI uses the swap mechanism to inject rupee liquidity into the banking system while simultaneously managing foreign exchange reserves.

Companies encouraging the use of AI, news of layoffs, tech tycoons speaking of no need for employment in the future and billions of dollars of investment in the sector make us cautious about the future.

Coal and crude were among the top drags, whereas cement and steel output led the recovery.

As per the report released by the UN Department of Economic and Social Affairs (UN DESA) on Tuesday, India, however, remains one of the fastest-growing major economies.

Traders said the RBI was in the market selling dollars to curb rupee weakness, according to Bloomberg reports.

Fuel prices in India depend on several factors, with global crude oil prices being the most significant as crude is the primary raw material used to produce petrol and diesel.

Brent crude slipped below $111 a barrel after easing 0.7% in the previous session, while West Texas Intermediate traded near $104.

In the past, Trump has time and again tried to push for more fed rate cuts during governor Jerome Powell's tenure.