Economy - The Purbottar

03 Mar

West Asia Conflict Disrupts Air Travel: 10 Flights Cancelled at Kolkata Airport

nanika EditorEconomy

Operations at Netaji Subhas Chandra Bose International Airport were disrupted on Tuesday as at least 10 international flights were cancelled amid the escalating conflict in West Asia. Airport officials confirmed that five departures and five arrivals were called off, causing inconvenience to several passengers.Major West Asian carriers, including Emirates, Qatar Airways, Etihad Airways, and Air Arabia, suspended services connecting Kolkata with key transit hubs such as Dubai, Doha, and Abu Dhabi.Emirates cancelled two arrival and two departure flights on the Dubai route. Qatar Airways suspended one arrival and one departure service to Doha. Etihad Airways called off one incoming and…

28 Feb

India’s FY27 Growth Outlook Raised to 7–7.4% After New GDP Series Revision: CEA

nanika EditorEconomy

India’s economic growth outlook for 2026-27 has been revised upward to 7–7.4% following the release of a new GDP series by the Ministry of Statistics and Programme Implementation (MoSPI), Chief Economic Advisor (CEA) V. Anantha Nageswaran said.The revision comes after the new GDP base year and methodological changes indicated stronger underlying growth momentum. Under the updated series, growth for 2025-26 is now estimated at 7.6%, 20 basis points higher than the earlier projection of 7.4% under the 2011-12 base year.Speaking after the data release, Nageswaran said the government had earlier projected a growth range of 6.8–7.2% for FY27 in the…

27 Feb

Bombardier Eyes Long-Term Growth in India’s Expanding Aviation Market

nanika EditorEconomy

Canadian aircraft manufacturer Bombardier sees strong long-term potential to expand its business jet sales in India as the country accelerates investments in aviation infrastructure, the company’s chief executive officer Eric Martel has said.Speaking in Montreal, Martel highlighted that nearly 60 Bombardier business jets are currently operating in India. However, he noted that limited aviation infrastructure has been a key challenge for further expansion. With the Indian government now investing heavily in airport development, the outlook appears increasingly positive.“They are building a dozen airports, and possibly more,” Martel said, pointing to ongoing infrastructure upgrades across the country. He added that sustained…

10 Feb

Indian Space Programmed Built on Cooperation, Not Competition: ISRO Chief

editorEconomy

India’s space programmed was founded as a people-centric and application-driven initiative rooted in international cooperation rather than rivalry, ISRO Chairman V. Narayanan said on Tuesday (February 10, 2026).Reflecting on six decades of India’s space journey, Mr. Narayanan noted that the programmed began with modest resources but a clear vision to serve societal needs. Over the years, it has grown into a globally respected ecosystem supporting communication, navigation, disaster management, climate studies and scientific research.He stressed that collaboration with international partners has remained a core philosophy, enabling India to contribute meaningfully to global space efforts while keeping humanity at the Centre…

27 Jan

India, EU Seal Landmark Deal, Strengthen Multipolar World Order

editorEconomy

India’s landmark free trade agreement with the European Union marks more than an economic milestone; it underscores the shift toward a truly multipolar global order. Together, India and the EU form one of the world’s largest economic partnerships, spanning nearly 2 billion people and accounting for about a quarter of global GDP.The deal completes a key gap in India’s foreign policy vision under Prime Minister Narendra Modi, positioning New Delhi to engage all major power centres on its own terms. While India already maintains strong ties with the US, Russia, Japan, ASEAN nations and Indo-Pacific partners, the EU — a…

30 Dec

Gold Prices Witness “Big Crash” Just Ahead of New Year 2026

Mohini BarmanEconomy

In a surprising turn for the commodities market, gold prices in India experienced a significant correction today, dropping by over ₹3,000 per 10 grams in a single session. After reaching record highs last week, 24-karat gold fell to ₹1,36,200, providing unexpected relief to retail buyers but causing a stir among investors. Analysts attribute the sharp decline to profit-booking by global institutional players and a slight easing of geopolitical tensions in certain sectors, leading to a temporary shift in "safe-haven" capital flows.

22 Dec

India Officially Becomes World’s Fourth-Largest Economy

Mohini BarmanEconomy

Union Minister Jyotiraditya Scindia announced at the YEF Bharat Summit 2025 that India has officially become the fourth-largest economy in the world. With a GDP now standing at approximately $4.5 trillion, India has surpassed Germany, marking a historic milestone in its economic trajectory. The Minister highlighted that the country is now on a clear path to becoming the world's third-largest economy by 2027, driven by massive growth in the startup ecosystem, record-breaking exports, and significant investments in human capital.

24 Oct

India looks to deepen trade links with Germany

Purbalee DuttaEconomy

Commerce and Industry Minister Piyush Goyal will visit Berlin on Thursday to strengthen India’s trade and economic partnership with Germany, Europe’s largest economy and a key global industrial center, the commerce ministry said in a statement. The visit, marking 25 years of the India-Germany strategic partnership, aims to deepen bilateral investment ties and support progress in the India-EU free trade agreement (FTA) talks, which have gathered pace in recent months. Germany plays a vital role in shaping EU trade policy and is a global leader in advanced engineering, automotive technology, and sustainable manufacturing. During his visit, Goyal will meet Germany’s…

16 Sep

ITR Filing Deadline Extended Twice: Here’s Why You Have Till September 16

editorBusiness, Economy

In a statement issued late Monday night, the CBDT announced that the income tax ITR filing deadline has been extended from September 15 to September 16. ITR Filing Due Date Extended: In a late-night statement on Monday, the Central Board of Direct Taxes (CBDT) extended the deadline for filing ITRs (income tax returns), providing relief to taxpayers. The ITR filing deadline has been extended by one day to September 16, meaning that the last day to file is today. In a statement issued late Monday night, the CBDT announced that the income tax ITR filing deadline has been extended from…

13 Feb

Innovative ‘Mindfulness City’ Project Seeks to Revitalize Bhutan’s Economy

editorBhutan, Economy

Bhutan has announced plans for the Gelephu Mindfulness City (GMC), a $100 billion project designed to redefine capitalism by emphasizing sustainability and well-being. Led by former Prime Minister Dr. Lotay Tshering, now governor of the GMC, the initiative aims to attract foreign companies practicing "mindful capitalism." The project is part of broader economic reforms addressing challenges like youth unemployment, a declining birth rate, and sluggish tourism recovery post-pandemic. The GMC will feature a low-rise metropolis integrating ecological harmony and spiritual contentment, with all operations powered by renewable energy. Bhutan seeks to leverage its hydropower potential and educated, English-speaking populace while…