Economy News ( English version)

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  • India willing to let fiscal deficit widen to 4.8% of GDP: Report June 12, 2026
    India faces a larger budget deficit this year. The war in Iran is increasing energy subsidy costs. This puts pressure on government finances. Authorities may allow the deficit to widen by half a percentage point. The deficit could reach 4.8% of GDP. This is up from the 4.3% target set in February. The situation is being closely watched.
  • India must expand international trade ties to reach $30 trillion economy vision by 2047: Piyush Goyal June 12, 2026
    Union Minister Piyush Goyal stated that India must expand international engagement to achieve its USD 30 trillion economy goal by 2047. He highlighted that developed nations' demographic challenges present opportunities for India's skilled workforce and that strategic partnerships will complement, not compete with, Indian industry.
  • FM Sitharaman flags global crisis spillovers, unfair burden on developing nations June 11, 2026
    Finance Minister Nirmala Sitharaman stated that the Global South should not bear the brunt of global imbalances and conflicts. Representing India at a summit, she emphasized the need for coordinated global action and stronger multilateral cooperation to build resilient economies and ensure inclusive growth for all.
  • BIS sets norms to protect indigenous seeds June 11, 2026
    The Bureau of Indian Standards has introduced a new framework for community seed banks. This standard aims to conserve India's traditional seed varieties. It provides guidelines for seed collection, storage, and quality. This initiative is crucial as agriculture faces increasing climate challenges. Farmers and local groups can now manage and exchange lo […]
  • Gearing up for El Nino: NCCF puts tenders to sell Tur Dal on hold June 11, 2026
    The central government has paused tenders for selling tur pulses. This decision follows a request from the All India Dal Millers Association. They want the government to wait for two months. This waiting period will allow for clarity on rainfall and sowing. The industry fears low production due to El Nino.

 

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