'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
Finance Minister P Chidambaram and Petroleum Minister Mani Shankar Aiyar may soon meet Prime Minister Manmohan Singh to decide on fuel pricing in the wake of spiraling international oil prices.
One Indian oil tanker successfully crossed the Strait of Hormuz, while others turned back after Iran signalled the waterway's closure, amidst rising tensions and disruptions to global energy flows.
Dabur India's stock has fallen over 17 per cent since the start of the Iran war, driven by concerns over a weak monsoon, the West Asian crisis, and rising input costs, which are expected to impact the company's revenues and margins, particularly affecting its significant rural sales and international markets.
The central bank is yet to consider actions such as a rate hike or mobilising dollar inflows from non-resident Indians to boost forex reserves as it cannot afford to continue with them for long when the rupee's internationalisation tops its agenda, explains Tamal Bandyopadhyay.
State oil companies have raised aviation turbine fuel (or jet fuel) prices by 2.86 per cent in line with rising international oil prices.
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
In the next quarter, the country will also start gearing up for various Assembly elections could put the government as well as the OMCs under pressure
A Group of Ministers is likely to consider this week a marginal hike in petrol and diesel prices and a cut in excise duty on auto fuels to cut the Rs 7,840 crore (Rs 78.40 billion) loss public sector oil firms incur every month.
Parliament failed to transact any business on Monday as the Opposition members created uproar over hike in fuel prices and demanded immediate rollback.
US President Donald Trump on Tuesday claimed that Iran is in a "state of collapse" and has requested the United States to help "open" the Strait of Hormuz.
The meeting of the group of ministers on fuel prices scheduled for Saturday has been put off, even as the core group of UPA alliance is likely to meet on Monday morning and may discuss the issue. External Affairs Minister Pranab Mukherjee, who heads the GoM on fuel prices, had on January 17 indicated a meeting at 1700 hours today for re-convening the inconclusive GoM meet of that day.
'It would be similar to what happened during COVID-19.' 'They are not just losing income, but being pushed into distress.'
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.
A source said on Tuesday that 'petroleum ministry is likely to propose deregulation of petrol prices and gradual phasing out of subsidies on diesel to ease burden on public sector oil marketing companies' -- indicating a possible hike of Rs 3 per litre in petrol rates.
Several non-banking financial companies (NBFCs) are observing an increase in early-stage delinquencies within their micro, small and medium enterprises (MSME) loan portfolios, primarily driven by supply chain disruptions and escalating raw material costs exacerbated by the ongoing conflict in West Asia.
'India's ties with Israel have to do with defence and general technology.' 'The war changes nothing in what India and Israel hope to get from the relationship.' 'It's not as though India will get significantly more benefits from Iran if India abandons Israel at this time.'
The Planning Commission said the decision of oil marketing companies to raise petrol price by Rs 3.14 per litre is a good news and will provide credibility to the economic reforms process.
A NITI Aayog report indicates that India's digital public infrastructure (DPI) initiatives could contribute 4 per cent of the GDP by 2030, a significant increase from the current 1 per cent.
Petrol is currently sold at a loss of Rs 6.68 per litre and diesel at Rs 5.81 per litre. Naik said the Vajpayee government had given Navratna oil firms the freedom to decide fuel prices.
Gold and silver prices experienced a significant drop in the national capital due to a global selloff driven by inflation concerns, central bank policies, and geopolitical tensions.
Domestic airlines may soon be able to hedge their risk of jet fuel prices. The government is considering a proposal to allow Indian carriers to hedge the price risk of aviation turbine fuel purchased from oil marketing companies in the country.
Petroleum Minister Murli Deora on Monday hinted at a hike in fuel prices, asserting that a final call on it would be taken by the Group of Ministers in the meeting to be held in New Delhi on June 7.
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.
'...especially pressure on the rupee, the current account deficit, and foreign exchange outflows.' 'The key question over the next several months is whether the government can prevent external turbulence from feeding into domestic economic pessimism.'
This may come as a surprise to many. Retail price inflation in petrol was the lowest at 10.21 per cent in March since November 2020. In diesel, it scraped the bottom of the barrel at 5.19 per cent in the last month of 2021-22 since February 2020. Even liquefied petroleum gas (LPG) was at a nine-month low of 9.97 per cent in the month.
Wholesale price inflation extended upward momentum for the second straight month, recording at 0.83 per cent in December 2025, driven by an uptick in prices of food, non-food articles, and manufactured items on a month-on-month basis, government data showed on Wednesday. Wholesale Price Index (WPI)-based inflation returned to positive in December, after witnessing a deflationary trend in the previous two months.
India has raised concerns with Iran over the safety of merchant shipping after two vessels were fired upon in the Strait of Hormuz, prompting them to turn back.
Crude prices are hovering near $100 a barrel level after hitting a six-month low of $98 on Thursday. Petroleum Secretary R S Pandey said that crude prices are expected to fall even further.
Both Houses met for the first time in the second part of Budget Session and saw repeated adjournments as the Opposition continued protests.
A core group of ministers on Wednesday held inconclusive deliberations on a proposal to raise fuel prices, necessitated by a spike in global crude prices that threatens to spawn an oil import crisis.
The Saudi and Iraq offer to replace Iranian crude supplies comes with a catch: Higher prices for the same quality of crude. The new government will face a tough decision over fuel price hike, says Aveek Sen.
The ministerial group is to look into pricing of some essential commodities, including petrol, diesel, domestic cooking gas and PDS kerosene. The GoM also includes Defence Minister A K Antony, Finance Minister P Chidambaram, Railway Minister Lalu Prasad, Road Transport, Highways and Shipping Minister T R Baalu and Consumer Affairs Minister Sharad Pawar.
'Mobius made EMs investable and India his most enduring belief.'
SpiceJet COO says ATF price cut is need of the hour.
Jet fuel prices on Thursday were hiked by the steepest ever 16 per cent to catapult rates to an all-time high in step with hardening international oil rates.
US Vice President J D Vance stated that while progress was made during peace talks in Islamabad, it is now up to Iran to further the discussions and address US concerns regarding its nuclear ambitions.
West Bengal Chief Minister Mamata Banerjee has demanded Prime Minister Narendra Modi's resignation, alleging manipulation of voter lists during the Special Intensive Revision (SIR) in West Bengal. She also questioned the abrupt resignation of Governor C V Ananda Bose and accused the BJP of anti-women policies and spreading misinformation.
