India's household debt climbed to 41.3 per cent of gross domestic product (GDP) at the end of March 2025, marking a sustained rise from its five-year average of 38.3 per cent, with consumption-related loans accounting for bulk of the borrowings, the Reserve Bank of India (RBI) said in its Financial Stability Report.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are reportedly incurring losses of Rs 18 per litre on petrol and Rs 35 per litre on diesel, as they continue to absorb rising crude oil costs without increasing retail prices. This situation is leading to expectations of a fuel price hike after upcoming state elections.
Elevated global crude oil and natural gas prices, driven by geopolitical developments in West Asia, could significantly influence the Government of India's fiscal position for 2026-27, according to a report by ratings agency Icra.
Fixed deposits from nationalised banks delivered higher returns than equities, outperforming both inflation and stock market benchmarks.
The benchmark BSE Sensex's trailing 12-month price-to-earnings (P/E) multiple has declined to 20.2x, its lowest since May 2020, driven by a record $42 billion FPI selloff since September 2024 and concerns over corporate earnings and economic growth.
Production growth in India's eight core infrastructure sectors slowed to a three-month low of 2.3 per cent in February, impacted by contractions in crude oil, natural gas, and refinery products output.
Despite significant price differences, Indian farmers are increasingly adopting non-subsidised speciality fertilisers, which are seen as a potential solution to the rising fertiliser subsidy burden exacerbated by global supply shocks.
India's urban areas are projected to contribute 70 per cent of gross domestic product in 2025-26, up from 45 per cent in the 1990s, according to a report by Dun & Bradstreet.
The Indian stock market is poised for a volatile week, influenced by the Reserve Bank of India's monetary policy decision, crucial global macroeconomic data, and the escalating geopolitical tensions in West Asia, according to market analysts.
India's services sector growth slowed in March, reaching a 14-month low, according to the HSBC India Services PMI. The slowdown reflects weaker new business intakes and rising input costs, particularly in fuel, transport, and logistics.
India's real gross domestic product (GDP) is likely to grow at 7.5 per cent in FY26 and moderate to 7 per cent in the subsequent fiscal year, a domestic rating agency said on Wednesday.
The Indian economy recorded a six-quarter high growth of 8.2 per cent in July-September, as factories churned out more products in anticipation of a consumption boost from the GST rate cut, according to government data.
Every week, hundreds of people line up to fill a plastic container with food in an unlikely place: the humble home where Argentine soccer legend Diego Armando Maradona was born.
The Indian government has implemented several measures to mitigate external risks, support the balance of payments, and maintain macroeconomic stability amidst the ongoing West Asia crisis, according to Minister of State for Finance Pankaj Chaudhary.
'More than becoming a unicorn, what truly satisfies us is seeing small businesses grow from Rs 10,000 a month to Rs 20 lakh after joining our platform.'
The logic of war plus the gathering storms in US politics as the midterms loom large leave him with no real alternative but to negotiate, points out Ambassador M K Bhadrakumar.
Moody's Ratings on Friday said with a 7 per cent GDP expansion in 2025 and 6.4 per cent in the next year, India will lead growth among emerging markets and across the Asia Pacific region.
Fitch Ratings on Thursday raised India's GDP growth forecast for the current fiscal to 7.4 per cent, from 6.9 per cent, on increased consumer spending and improved sentiment boosted by GST reforms.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
Fitch Ratings on Friday said persistently higher oil prices could cause India's retail inflation to rise faster than the expected gradual pace, and lead to a slowdown in economic growth in the first half of financial year 2026-27 (FY27).
The modern war is about quality over quantity, points out Mihir S Sharma.
The 'rescue' operation occurred within kilometres of Iran's underground tunnel complex at Isfahan, assessed by the IAEA and US intelligence as holding a substantial portion of the country's 60 per cent enriched uranium stockpile. Retired senior US military officers have highlighted that the mission's footprint -- hundreds of special operators, multiple heavy-lift aircraft deep inside Iran -- appears outsized for recovering a single airman. Prem Panicker continues his must read blog on the Iran War.
China's latest defence budget surges to $275 billion, fueling its ambitious military modernisation program and intensifying geopolitical dynamics in the region.
Remittances from West Asia in March rose sharply amid the conflict in the region, with industry insiders estimating inflows to be 20-30 per cent higher than what is usual in a month.
Opposition MPs in the Rajya Sabha criticised the Modi government's economic policies, citing the LPG crisis, lack of energy security, and concerns over the Economic Stabilisation Fund.
After years of rapid expansion, the Centre's capital spending growth eases as private investment shows early signs of revival, points out A K Bhattacharya.
Finance Minister Nirmala Sitharaman announced a fiscal deficit target of 4.3% of GDP for FY27, continuing the path of fiscal consolidation. The government aims to reduce the debt-to-GDP ratio to 55.6% by BE 2026-27 and further to around 50% by March 2031.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
Here are the key numbers to watch out for in the Union Budget for 2025-26:
'I will not be surprised if there is a 7 per cent handle in front of the decimal place for the full financial year.'
India's retail inflation, which has stayed below the Reserve Bank of India's (RBI's) 4 per cent target in recent times, is likely to remain benign in the coming months, RBI Deputy Governor Poonam Gupta said in a speech, on Friday, which was uploaded on the central bank's website on Tuesday. Headline inflation dipped to multi-year lows of around 1.5-2.8 per cent in late 2025.
Analysts predict continued volatility in Indian equity markets due to domestic macroeconomic data, F&O expiry, global developments including US tariff policies, and geopolitical tensions.
Asian Development Bank (ADB) on Friday warned that India's limited crude oil reserves of about 100 million barrels - sufficient for only 40-45 days of consumption - leave the country particularly vulnerable to supply disruptions through the Strait of Hormuz amid the ongoing war in West Asia.
Of the donations, 48% is in kind -- such as food, clothing, or other household goods -- followed by cash (44%) and volunteering (30%) with non-profits, religious institutions, or community groups.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
The forthcoming Budget could think of maintaining public capital expenditure at 3 per cent so that domestic resources are available for private investments, points out N R Bhanumurthy.
The Swadeshi Jagran Manch (SJM) is advocating for the termination of the moratorium on customs duties for electronically transmitted digital products, arguing that it hinders self-reliance, causes revenue losses, and restricts India's ability to tax emerging technologies like AI.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
'After the Galwan clash, the rules of engagement changed with the army commanders allowed to use any means at their disposal as they deem fit for tactical operations.'
The Indian rupee crashed to a record closing low against the US dollar due to rising global crude oil prices, a strengthening dollar, and geopolitical tensions in the Middle East.
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