The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 5.25%. This decision was made during the third consecutive meeting of the Monetary Policy Committee (MPC), which considered the current global economic scenario and its potential impact on India's economy. The RBI also projected 6.9% GDP growth, indicating a cautious yet positive outlook.
The Securities and Exchange Board of India (SEBI) has launched three new IT platforms to boost ease of doing business and enhance cybersecurity oversight. This initiative is part of SEBI's efforts to improve regulatory efficiency and protect investors. The platforms will facilitate smoother operations and better monitoring of market activities.
The ADB has predicted that India's GDP growth will moderate to 6.9% in the current fiscal year due to heightened global uncertainty, higher energy prices, and volatile trade and financial conditions. However, the bank expects the growth to accelerate to 7.3% next year.
The Indian government has hiked the export duty on diesel to ₹55.5/litre and on ATF to ₹42/litre, with immediate effect. This decision was made on 11 April. The increase in export duty is expected to have an impact on the prices of these fuels in the international market.
The Finance Ministry has announced the latest interest rates on the General Provident Fund (GPF), which is a compulsory savings scheme for government employees. The GPF interest rates are used to calculate the returns on the employees' contributions, and the latest rates will be applicable for the current financial year. The GPF is an important component of the government employees' retirement benefits, and the interest rates play a crucial role in determining the overall value of their savings.
The Asian Development Bank has raised India's economic growth projection to 6.9% for FY26, citing strong domestic demand and reduced US tariffs. Growth is expected to accelerate to 7.3% in FY27, fueled by reforms and trade agreements. Inflation is projected to rise to 4.5% in FY26 before easing to 4.0% in FY27.
The Reserve Bank of India (RBI) has proposed a 1-hour delay for digital payments exceeding Rs 10,000. This move is intended to enhance the security of digital transactions and reduce the risk of fraudulent activities. The proposed delay will allow banks to verify transactions and prevent unauthorized payments.
The President of India has nominated Harivansh, a veteran JD(U) leader, for a third term in the Rajya Sabha. This nomination is crucial as it comes ahead of important parliamentary sessions. Harivansh has been a key figure in Indian politics, and his nomination reflects the ongoing political dynamics. The Rajya Sabha, as the upper house of the Indian Parliament, plays a vital role in legislation and policy-making.
Bihar Chief Minister Nitish Kumar took oath as a Rajya Sabha member. This event signals significant political shifts in Bihar. A new chief minister from the BJP is expected to take charge soon. The current deputy chief minister, Samrat Choudhary, is a strong contender for the top post.
President Droupadi Murmu has nominated Harivansh Narayan Singh to the Rajya Sabha. His previous term concluded on April 9. Singh has served as Deputy Chairman of the Upper House since 2018. This nomination follows constitutional provisions and fills a vacancy. He brings extensive parliamentary experience from various committees.
The Kempegowda International Airport in Bengaluru is expected to handle 80 million passengers annually by 2030, as per the plans announced by Murlidhar Mohol. This expansion aims to enhance airport infrastructure, promote air travel, and support the growth of the city. The airport's expansion is part of the efforts to improve the overall air travel experience and provide world-class facilities to passengers.
The Telangana government has submitted a proposal for the expansion of the Hyderabad Metro Rail Phase 2 project, covering a distance of 162 km. This expansion aims to enhance connectivity, reduce traffic congestion, and promote sustainable transportation in the city. The project is expected to improve the overall quality of life for citizens and support the city's growth.
The Railway Minister, Ashwini Vaishnaw, has given the nod for the introduction of the Bengaluru-Mumbai Vande Bharat sleeper train. This train will improve connectivity between the two cities, reduce travel time, and promote tourism. The Vande Bharat train is a significant initiative by the Indian Railways to enhance passenger experience and provide comfortable travel options.
