SUBSIDIES
Bihar CM Samrat Choudhary urges people to give up power subsidy
Bihar CM Samrat Choudhary announced the escalating subsidy costs related to the free electricity scheme. He encouraged consumers who can afford it to relinquish the subsidy. The state plans to conduct a drive to reach out to consumers regarding this appeal. Opposition leaders criticized the government and its financial decisions amidst rising costs. The government aims to redirect savings from the subsidy towards essential sectors like education.
Pakistan's fiscal surplus plunges 40% in Q1 as spending and interest costs rise
Pakistan's fiscal position deteriorated in the first quarter of the financial year 2026. The country's budget surplus fell sharply to 0.9 percent of GDP from 1.7 percent. Total government revenue decreased to 6.004 trillion rupees despite an increase in tax collections. Government expenditures rose by 16 percent, heavily influenced by rising interest payments. Pakistan continues to face economic challenges, including public debt and limited revenue generation.
CAG to audit urea subsidy, distribution in 169 districts
India plans to spend ₹2.17 lakh crore on fertiliser subsidies this fiscal year, focusing on urea. The Comptroller and Auditor General will conduct a comprehensive audit examining 149 districts with high urea consumption. This audit will address efficiency, demand assessment, and subsidy rationalisation initiatives while ensuring environmental sustainability. It aims to scrutinise import planning and financial impacts related to urea production and subsidies.
Indiramma Housing Scheme 2026: Telangana offering 2,400 flats for Rs 3.5 lakh; check locations, eligibility, how to apply and last date
Indiramma Housing Scheme 2026 Apply Online: Telangana's Indiramma Housing Scheme 2026 has announced a housing scheme of 2,400 affordable flats across five urban locations. The flats are available at an estimated beneficiary contribution of Rs 3.5 lakh. Check city-wise locations, eligibility criteria, application process, beneficiary status and the December 5, 2026 deadline.
Tata Electronics in talks to raise $2 billion for expansion
The first tranche is likely to be up to $800 million, with initial pricing discussions around SOFR plus 180 basis points. The talks are at an early stage, with the final size, pricing and lender participation yet to be firmed up. The loan could be priced at around 6%, assuming SOFR remains at around 3.9%.
India's growth gets further votes of confidence as Moody's raises FY27 forecast to 7% from 6.5%
Moody's Ratings has raised India's economic growth forecast for 2026-27 to 7% from 6.5%. This adjustment reflects the nation's strong consumption and improving investment dynamics. Despite potential challenges such as policy interest rate hikes, consumption remains crucial for growth. Additionally, SBI Research predicts a growth of 7.8% for India in the July-September quarter. Improving economic indicators suggest a strong recovery might be underway, supporting a new cycle of private investment.
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UP's MLC ministers may contest Assembly polls as BJP plans major reshuffle
BJP is strategizing to field notable ministers from the Uttar Pradesh Legislative Council for upcoming assembly elections. The party is considering replacing over 30% of sitting MLAs to refresh its candidate list. Prominent figures such as Keshav Prasad Maurya, Swatantra Dev Singh, and others are under consideration. Aiming for regional representation, the party is also evaluating former MPs who lost in the recent Lok Sabha elections.
Chandrashekhar Azad, Owaisi explore third front to take on BJP, SP in UP elections
Chandrashekhar Azad's Azad Samaj Party and Asaduddin Owaisi's AIMIM are forming an electoral alliance ahead of the 2027 Uttar Pradesh assembly elections. This partnership aims to unite Dalit and Muslim voters by contesting over 200 constituencies. Azad's party plans to field candidates in approximately 150 seats, while AIMIM may contest 40-50 seats.
China's passenger car exports surge in October as domestic demand remains weak
China experienced a significant increase in car exports in October, primarily driven by electric vehicle demand. The country exported approximately 927,000 passenger vehicles, reflecting a 62.3 percent growth compared to last year. In contrast, domestic passenger vehicle sales fell to about 1.7 million units following months of decline. Analysts predict exports could exceed 10 million vehicles, while domestic sales may drop to 18.5 million in 2026.
Government approves Rs 62,370 cr fertiliser subsidy for Rabi 2026-27
The Union Cabinet has approved a nutrient-based subsidy of Rs.62,370 crore for RABI season 2026-27. This subsidy amount is significantly higher than the previous season's budget of Rs.37,952.29 crore. Global shortages and price escalations of fertilizers were influenced by the ongoing conflict in West Asia. The government aims to ensure affordable prices for fertilizers by rationalizing the subsidy on phosphatic and potassic fertilizers.
PM Modi says farmers remain top priority as Cabinet approves rabi fertiliser subsidy
Prime Minister Narendra Modi announced the approval of Nutrient-Based Subsidy rates for the upcoming rabi 2026-27 season. This decision aims to protect farmers from fluctuating international fertiliser prices, ensuring affordability. The budgetary requirement for this subsidy has increased significantly from the previous season. The government emphasizes that improving farmers' lives remains a top priority amidst global challenges. The total budget required is approximately Rs 62,370 crore for this season.
The much awaited Noida-Greater Noida West metro link, a mega museum and more: Inside the Cabinet's Rs 77,101 crore package
On Wednesday, the Union Cabinet approved significant proposals for infrastructure and business support across India. The government will allocate ₹3,230 crores for the Yuge Yugeen Bharat Museum in New Delhi. A metro rail project linking Noida and Greater Noida will receive ₹2,390 crores for development. Additionally, ₹62,370 crores will be set aside for NBS rates on fertilizers for the Rabi 2026-27 season.
Noida to Greater Noida West Metro gets Rs 2,390 crore boost: 8.5-km Aqua Line extension to have five new stations; check route, interchange & completion timeline
Noida to Greater Noida West Metro: Ashwini Vaishnaw on Wednesday announced the Cabinet's approval for the Rs 2,390-crore Noida Metro Aqua Line extension from Sector 51 to Greater Noida Sector 4. The 8.5-km elevated corridor will have five new stations and is expected to be completed within four years. The project aims to improve connectivity across Noida and Greater Noida West and ease traffic congestion.
China is building inside Europe's trade walls, deepening its grip on critical industries
(The opinions expressed here are those of the author, the director of the Geoeconomics Program of the Center for the Study of Democracy)- China doesn't
India's wheat plantings seen at record high but final output to depend on weather, FAO says
India is poised for record wheat planting this season, supported by government incentives and soil moisture. The final wheat output will depend significantly on weather patterns influenced by El Nino in April and May. El Nino typically brings above-average rainfall to key wheat-growing areas but may also increase flooding risks. Adequate snow cover from expected precipitation could benefit both overwintering crops and reservoir replenishment.
Don't let fare caps clip airlines' wings
Recently, airline price surges during festival seasons have raised concerns about imposing fare caps. While there is public demand for such measures, they may disrupt airlines' pricing flexibility. Regulations on airfares are more effective when they account for market demand and emergencies like natural disasters. Airlines might resort to add-on charges if their revenue is impacted by fare restrictions.
Assam plans 6,000-bigha Defence Park in Morigaon to boost defence manufacturing
Assam Government has approved the establishment of a Defence Park on approximately 6,000 bighas of land. This initiative aims to enhance defence manufacturing capabilities in the state and foster industrial growth. Additionally, the Assam Aerospace and Defence Manufacturing Policy, 2025, has been introduced to attract investments in this sector. The initiative is expected to create significant employment opportunities for the youth of Assam.
Rare earth magnet scheme: Coal India, IRP seek no sops; other contenders include ReNew, Prozeal
The scheme will run for seven years from the date of award, including a two-year gestation period for setting up an integrated manufacturing facility, and five years for incentive disbursement on the sale of REPM. These magnets are among the most powerful in the world and are widely used in electric vehicles, wind turbines, high-end electronics, aerospace and defence systems.
India's three-wheeler market takes an electric turn, with one in two new sales now EVs
Electric three-wheelers are increasingly popular in India, with sales significantly rising and concerns about fossil fuels decreasing. Mahindra Last Mile Mobility now produces a large number of e-rickshaws to meet growing demand. Drivers like Afroz Alam have reported substantial savings after switching from gas-powered models to electric versions. Analysts attribute this shift to lower operational costs and government subsidies promoting EV adoption.
India may lower shipbuilding subsidy localisation threshold to 20% to attract foreign investors
The government is considering lowering the minimum domestic-content threshold for shipbuilding incentives from 30% to 20%, with a full subsidy payout linked to 40% localisation. The proposed relaxation, conditional on firm investment milestones, could benefit South Korea's HD Hyundai, which plans a $4 billion greenfield shipyard in Tamil Nadu.
Welfare pay can't be voter ID-linked
Union panchayati raj minister Rajiv Ranjan Singh announced plans to replace Aadhaar with voter ID numbers for welfare programs. This change would shift the basis for beneficiary identification and payment processing. Critics argue that voter ID is not a universal form of identification and is tied to electoral registration. The proposed switch raises concerns about access for those not on electoral rolls.
US hospitals brace for tougher 2027 as coverage losses and Medicaid cuts loom
US hospital operators are experiencing revenue pressure due to an increase in uninsured patients affecting their operating margins. The expiration of federal subsidies is causing ACA exchange premiums to rise sharply, leading to more patients losing coverage. Major hospital chains are bracing for declines in Medicaid supplemental payments that could hit their finances hard. Analysts caution that forthcoming changes to Medicaid requirements might exacerbate issues for hospital operators.
Battery component makers may get up to 50% capital subsidy
The ministry of heavy industries is evaluating various subsidy models to enhance domestic battery component manufacturing capacity. Proposed support includes capital subsidies and sales-linked incentives to promote local production. India aims for sufficient manufacturing capacity to support 50 GWh of annual battery cell production by 2032. Current costs of battery materials are significantly higher compared to those from China.
Pull it, not just for better FPIs: Scrap FPI capital gains tax to boost inflows, strengthen rupee and cut fiscal deficit
Scrapping the long-term capital gains tax could significantly enhance foreign portfolio investment in India. This move would likely lead to a stronger rupee and reduced fiscal deficit for the government. Historical data suggests that foreign capital flows have a direct correlation with the value of the rupee. The elimination of this tax could also support higher valuations and better disinvestment proceeds.
Fiscal deficit likely to exceed FY27 target by up to Rs 1.2 lakh crore
India's fiscal deficit for the year 2026-27 is projected to exceed the budgeted target by a significant amount. The anticipated deficit may reach ₹1.2 lakh crore, influenced by various subsidy pressures. Both CareEdge Ratings and SBI Research provided estimates on the fiscal deficit, highlighting potential shortfalls in tax revenue. Proposed measures include utilizing the Economic Stabilisation Fund and implementing expenditure cuts to manage the deficit.
Kerosene costlier than petrol: Karnataka fishermen switches fuel, but 95% of boats still out of water
Rising kerosene prices and expensive petrol alternatives are forcing traditional nadadoni fishermen along Karnataka’s coast to suspend boat operations. Fishermen in Dakshina Kannada estimate that 90% to 95% of boats have stopped operating, while operators in Uttara Kannada report a sharp decline in deep-sea fishing and are seeking government subsidies and clarity on alternative fuel arrangements.
Health insurance marketplace 2027: Obamacare premiums set to rise 13% as subsidies expire - will you pay more?
Healthcare marketplace: Obamacare premiums are expected to rise in 2027 as enhanced federal subsidies expire and eligibility rules change. With benchmark silver plan premiums projected to increase by 13%, many Americans could face higher costs, switch to cheaper coverage or struggle to keep their health insurance.
No free electricity for Bihar taxpayers? CM appeals to income-tax payers to surrender 125-unit benefit and support state's development
Bihar Chief Minister Samrat Choudhary has appealed to financially well-off residents and income-tax payers to voluntarily surrender their benefit of 125 units of free electricity and contribute towards the state's development. The Bihar government spends around Rs 23,000 crore annually on electricity subsidies.
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