New Delhi, June 21 (IANS) The Parliamentary Standing Committee on Finance will be meeting soon to discuss the evolving economic situation in the country amid the uncertainties due to the West Asia crisis.Committee Chairman Bhartruhari Mahtab said: “Despite the serious headwinds, India’s economy is emerging in a better way. There are certain very good indicators where household savings also increased in comparison to last year.” However, the challenge is that private investment is not picking up,…
Latest West Asia crisis News & Updates
New Delhi, June 19 (IANS) The minutes of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting released on Friday show that India has been able to withstand the disruptions of the West Asia crisis because of the strong fundamentals of the economy. MPC member Nagesh Kumar said, “The Indian economy entered the West Asia crisis with much stronger macroeconomic fundamentals than most previous economic crises (including the global financial crisis, the taper tantrum, or Covid-19)….
New Delhi, June 18 (IANS) Despite the West Asia crisis disrupting oil and gas flows, India is maintaining its energy security through diversified supply chains, strong domestic coal resources, and expanding digital infrastructure, according to S&P Global Energy’s latest report.S&P notes that Indian refiners are strategically mitigating shipping risks around the Strait of Hormuz.However, the report advises that India must shift from a standard procurement-based approach to a more aggressi…
New Delhi, June 11 (IANS) The Bristol County Ground and the Utilita Bowl in Southampton have undergone significant infrastructure refurbishments ahead of the 2026 ICC Women’s T20 World Cup, with tournament director Beth Barrett-Wild saying that they were done as part of a broader wave of facility investment triggered by the England and Wales Cricket Board (ECB) hosting the global event from June 12 to July 5. “When you host a World Cup, it gives you an opportunity to invest in sort of capital pr…
New Delhi, June 10 (IANS) The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 has crossed a major milestone, with the total number of guarantees issued under the scheme surpassing the one lakh mark, according to official data released on Wednesday.As of June 9, 2026, a total of 1,06,549 guarantees have been issued under ECLGS 5.0, covering guarantees worth Rs 48,484.26 crore, the Ministry of Finance said.The achievement highlights the extensive scale of credit support being provided to lender…
New Delhi, June 8 (IANS) Congress President Mallikarjun Kharge on Monday hailed the “united fight” against the Narendra Modi government, leading to the failure of “malicious” bills on delimitation in the Lok Sabha and urged the members of the INDIA bloc to strengthen the spirit and resolve to corner and confront the ruling dispensation on multiple pressing issues before the nation.Kharge, making his opening remarks at the INDIA bloc meet, sought to share a strategic blueprint for rebuilding the …
New Delhi, June 6 (IANS) Amid the global headwinds, the government has made efforts to ringfence the MSME sector with various EPCLGS schemes, and would slash non-essential expenditures on the revenue side to make fiscal ends meet, rather than reducing capital expenditures, according to economists.On the external front, exports are likely to slow down as global growth takes a hit, says YES BANK ‘Ecologue’.The manufacturing sector, particularly MSMEs, could face a slowdown due to supply-chain …
New Delhi, June 4 (IANS) The government has fixed the basic price of aviation turbine fuel (ATF) for domestic airlines at Rs 86.32 per litre for up to three years under the new price stabilisation scheme aimed at keeping airlines financially viable and passenger tickets affordable amid the surge in international prices due to the Middle East crisis. Under the voluntary scheme, airlines participating in the scheme will pay the fixed free-on-board (FOB) benchmark price as well as airport charges, …
New Delhi, June 3 (IANS) Union Minister for Micro, Small and Medium Enterprises (MSME), Jitan Ram Manjhi, held a high-level meeting with senior officials to review the measures required to protect MSMEs from the adverse fallout of the West Asia crisis, according to an official statement issued on Wednesday. The Minister directed the officials to closely monitor the evolving situation and develop timely and appropriate strategies to effectively address any potential challenges regarding the avail…
New Delhi, June 3 (IANS) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved one-time budgetary support of Rs 10,000 crore for Oil Marketing Companies (OMCs) to provide ATF price stabilisation support to Scheduled Indian Airlines for their domestic and international operations amid the West Asia crisis.The budgetary support will be in the form of interest-free advances to OMCs through the Demands for Grants of the Ministry of Petroleum and Natural Gas. It will shiel…