Macro

India has sharply increased the windfall tax on fuel exports, raising the levy on diesel to Rs 55.5 per litre from Rs 21.5 per litre and on aviation turbine fuel to Rs 42 per litre from Rs 29.5 per litre.

From oil to mangoes, a weekly decode of the hidden economics shaping what you use, eat and pay for.

Most officials worried a protracted war could hurt the labor market and warrant lower interest rates

RBI MPC Meeting Today: Governor Sanjay Malhotra-led Monetary Policy Committee unanimously decided to keep the repo rate unchanged at 5.25%.

In a widely expected move, RBI announced no change in the repo rate amid heightened global uncertainty due to the US-Iran tensions.

To support small businesses, the RBI proposed easing onboarding requirements for MSMEs on trade platforms, aimed at improving access to financing and reducing compliance burden.

Here's how to watch RBI Governor Sanjay Malhotra's speech live after the conclusion of a three-day Monetary Policy Committee meeting.

Economists expect the RBI to keep rates unchanged as rising oil prices lift inflation risks, growth momentum softens and external volatility intensifies.

The RBI MPC meeting is expected to focus on the potential inflationary impacts of the US-Iran war.

The projected outcome for FY26 points to continued resilience in India's exports amid a challenging global trade environment, although risks from geopolitical tensions and protectionist trends remain.

The government is preparing a large credit support plan to cushion sectors facing emerging stress, signalling a pre-emptive move to manage potential economic impact due to Iran war.

Officials said the GST Council is likely to convene only after the new state governments are in place.

The Indian economy will have to go through a "Sagar Manthan", Saurabh Mukherjea, founder and chief investment officer on Marcellus Investment Advisors told NDTV Profit.

Pranjul Bhandari, chief India economist at HSBC, said the easing of the manufacturing PMI to 53.9 reflected the impact of disruptions linked to the conflict in the Middle East, which are reverberating through the global economy.

Gross collections rose 8.3% to Rs 22.27 lakh crore from Rs 20.55 lakh crore.

The feedback collected from these meetings will help the Commission decide how much salaries, pensions and benefits should be revised in the future.

It said the Indian economy, which imports nearly 90% of its crude oil requirements, is also highly dependent on imports of natural gas and fertilisers, and is particularly vulnerable to such external shocks

The Union Budget 2026-27 tabled on Feb. 1 by Finance Minister Nirmala Sitharaman envisages a total expenditure of Rs 53.47 lakh crore.

The oil shock is feeding into inflation through fuel, fertiliser and currency channels, raising the risk that the Reserve Bank of India may need to tighten policy even as demand weakens.

The proposed amendments aim to expand the powers of the tax department to reopen assessment cases based on orders passed by courts and appellate tribunals.