Moody's Ratings has downgraded India's growth forecast for financial year 2026-27 (FY27) to 6 per cent from 6.8 per cent, attributing the revision to weaker consumption and industrial activity, elevated energy prices, and rising input costs stemming from the West Asia conflict.
Chief Economic Advisor V Anantha Nageswaran stated that India's economy is projected to return to a 7 per cent-plus growth trajectory by 2027-28 (FY28), or sooner if external conditions improve, despite near-term challenges from the West Asia crisis.
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.
Prime Minister Narendra Modi announced six guarantees for West Bengal if the BJP wins the Assembly polls, promising to end the 'reign of fear' and address corruption, while criticising the TMC government's performance.
A potential US-Iran peace deal, expected to be signed on June 19, is anticipated to ease geopolitical stress and benefit various sectors, particularly in India, with analysts suggesting investors await finer details before making significant moves.
India's foreign exchange reserves increased by USD 938 million to USD 682.321 billion during the week ended May 28, according to the Reserve Bank of India, following a previous week's drop.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
The new Israeli settlements in the West Bank are illegal and inconsistent with international law, United States Secretary of State Antony Blinken has said, reversing a Trump-era policy.
Indian benchmark indices Sensex and Nifty closed lower for the second consecutive day, driven by investor caution over conflicting geopolitical signals from West Asia and fresh foreign institutional investor (FII) outflows.
The Reserve Bank of India (RBI) has debunked reports of gold sales, stating that its physical stock of gold remains unchanged at 880.52 tonnes, countering claims of selling approximately USD 12 billion to protect foreign-currency reserves.
Pakistan's Defence Minister Khawaja Asif has issued a war threat against India, citing water security as a national concern. This comes as Pakistan grapples with a severe internal water crisis, attributed by experts to mismanagement, and India maintains its suspension of the Indus Waters Treaty following a terror attack. Asif accused India of "weaponising water" but admitted to lacking current data on the situation.
Nomura has increased its March 2027 target for the Nifty 50 to 25,900, driven by strong corporate earnings and attractive market valuations, even as risks from the West Asia conflict and high oil prices persist.
India's wholesale price inflation surged to 3.88 per cent in March, marking the fifth consecutive monthly increase, primarily driven by a sharp rise in crude petroleum, natural gas, and manufactured items amidst the West Asia crisis.
Uttar Pradesh Chief Minister Yogi Adityanath has accused the TMC of pursuing appeasement policies in West Bengal, urging voters to support a BJP government for inclusive governance and development.
Indian stock market indices Sensex and Nifty experienced a decline in early trade due to surging crude oil prices and ongoing geopolitical uncertainty in West Asia. Foreign fund outflows further contributed to the negative sentiment.
Fintech unicorn Razorpay has confidentially filed draft documents with SEBI for an Initial Public Offering, with market sources estimating the issue size between Rs 5,000-6,000 crore. This move comes as a rival firm, PhonePe, has paused its IPO plans.
On Saturday, it was reported that a drone strike had targeted the Fujairah Port in the UAE, triggering a fire.
Two individuals have been arrested in Dhanbad, Jharkhand, for allegedly creating a fake social media account in the name of the Palghar district collector and defrauding a local resident of Rs 50,000. Police successfully recovered the entire amount.
India's Central government is likely to see its fertiliser subsidy bill double to a record 3.4 trillion in FY27, up from the Budget estimate of 1.7 trillion, due to surging global fertiliser prices exacerbated by the West Asia war. This significant increase, coupled with revenue losses from excise duty cuts for oil-marketing companies, is straining the government's fiscal space, though capital expenditure plans remain unchanged.
Senior Trinamool Congress leader Abhishek Banerjee has accused the BJP-led central government of planning to increase fuel prices after the West Bengal assembly elections. He challenged the BJP to promise no price hikes for LPG, petrol, and diesel over the next five years.
Analysts predict that developments in US-Iran negotiations, fluctuations in crude oil prices, and key global economic data will be the primary drivers of gold and silver prices in the coming week, with a strong focus on talks in Switzerland.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
Its strength is set to increase by 3 seats once the current round of Rajya Sabha polls for 27 seats are concluded on June 28.
Reserve Bank Governor Sanjay Malhotra announced that India's foreign exchange reserves stand at a healthy $682.3 billion as of May 29, 2026, providing approximately 11 months of import cover and strong protection against external shocks.
Indian bank credit expanded by 16.08 per cent year-on-year in FY26, marking its fastest pace since FY24, while deposits grew by 13.47 per cent, according to RBI data. Experts caution that year-end figures may be inflated due to reporting date changes, but acknowledge strong momentum in corporate, MSME, and retail segments.
The United States and Iran have reached an agreement in principle to immediately and permanently halt all military operations, lift sanctions, and work towards a comprehensive final agreement within 60 days, including a significant reconstruction package for Iran.
Railway Minister Ashwini Vaishnaw asserted that the BJP will form the government in West Bengal after the upcoming assembly elections, ending the Trinamool Congress's 15-year rule. He criticised the TMC for vote-bank politics, hindering development, and failing to protect women, while promising unprecedented development under a BJP government.
Analysts predict that the ongoing conflict in West Asia, crude oil price fluctuations, and the US Federal Reserve's interest rate decision will significantly influence the Indian equity market this week.
Indian benchmark indices Sensex and Nifty rebounded sharply on Monday, driven by a correction in crude oil prices due to ceasefire efforts in West Asia and strong buying in bank stocks.
Union Home Minister Amit Shah accuses the West Bengal government of openly facilitating infiltration, defends the Special Intensive Revision of voter lists, and asserts BJP's prospects in upcoming elections.
India's market landscape is undergoing significant shifts, with bank-backed brokerages potentially regaining dominance over discount platforms due to regulatory changes and increased taxes, while the IPO pipeline faces a slowdown amid heightened global volatility.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
India's total automobile retail sales recorded a significant 9.55 per cent year-on-year growth in May, reaching an all-time high of 25,31,067 units, driven by strong performances in three-wheelers, passenger vehicles, and tractors, despite prevailing heatwave conditions and fuel price pressures.
Trinamool Congress leader Abhishek Banerjee alleges the BJP-led government may increase fuel prices after the West Bengal assembly elections, accusing them of neglecting the common man and withholding funds from the state.
Indian benchmark indices, Sensex and Nifty, closed sharply higher, with the Sensex climbing 1,695.40 points and the Nifty surging nearly 2 per cent, driven by a global market rally and a decline in crude oil prices following US President Donald Trump's declaration that his country has ended the war with Iran.
The National Payments Corporation of India (NPCI) is set to consider linking the ATM interchange fee to the Wholesale Price Index (WPI), alongside a potential hike from the current 19 to 21-22, which could impact customer charges for transactions beyond the free limit.
Goa Police dismantled an illegal call centre in Verna Industrial Estate, arresting 26 individuals for allegedly defrauding US citizens by posing as bank employees.
Discover the inspiring journey of Komal Prabhu, called the Queen of GSB Cuisine, that saw her switch professions -- a Bharata Natyam dancer became a celebrated chef devoted to preserving traditional Gaud Saraswat Brahmin food traditions.
The Reserve Bank of India has increased its retail inflation projection for 2026-27 to 5.1 per cent, up from an earlier estimate of 4.6 per cent. This revision is primarily attributed to mounting input costs, driven by the pass-through of higher global energy prices to domestic petrol and diesel rates, which have seen significant increases since May.
Indian benchmark indices Sensex and Nifty traded lower amid volatile trends, influenced by escalating geopolitical uncertainties in West Asia and fresh outflows from Foreign Institutional Investors (FIIs).
