Southwest monsoon ends with 12% deficit, October rain also likely below normal: IMD

India's 2026 southwest monsoon ended with 759.4 mm of rain, 12.6% below the 868.6-mm normal, the India Meteorological Department (IMD) said on Wednesday. At 87% of the Long Period Average (LPA), this is the lowest rainfall recorded during the mon-soon since 2015, which was a tad drier at 758.2 mm.

The India-EFTA partnership, one plus one equals three

On October 1, 2025, the Trade and Economic Partnership Agreement (TEPA) between India and the four European Free Trade Association (EFTA) states - Iceland, Liechtenstein, Norway and Switzerland - entered into force. One year on, the more useful question is not how many tariff lines have fallen, but what kind of partnership the agreement is making possible.

Household debt, financing today against tomorrow

According to the Reserve Bank of India (RBI), as of September 2025, India's household debt stood at 45.5% of its gross domestic product (GDP). In June 2023, the debt had been around 42% of GDP. The household debt had stood at 39.2% in March 2021. While this remains relatively modest compared with several emerging market economies, the composition and pace of household borrowing deserve closer attention.

The significance of the Cardiff MoU

• Northern Ireland's push is centred on reunification with Ireland, while Scotland is seeking independence and Wales is advocating greater autonomy, with the three nations' positions shaped by their distinct political histories

• In Scotland and Wales, recent political developments have strengthened demands for greater powers, with Scotland pushing for a second independence referendum and Wales keeping the possibility of independence open while favouring further devolution

Modi, Trump talk trade, defence, critical technologies over a call

In their first telephone call since the United States Congress passed the new Russian sanctions law, Prime Minister Narendra Modi said he and President Donald Trump had a "productive conversation" and reviewed bilateral ties. Mr. Modi and Mr. Trump spoke amid growing concerns over the India-U.S. relationship, underlined by a talk by External Affairs Minister S. Jaishankar in New York earlier this week where he spelt out a number of "issues", including over tariffs, FTA negotiations, the U.S.'s treatment of Indian migrants and Pakistan.

Centre notifies CAFE norms, tightens PVs' fuel-efficiency targets

The Centre has notified the third phase of carbon emission norms for passenger vehicles (PVs, effective from April 1, 2027 to March 31, 2032, under which each battery electric vehicle (EV) will count as three vehicles toward a carmaker's fleet-efficiency calculation, while other cleaner technologies and biofuel-based vehicles will receive specified credits.

Cabinet okays rabi MSP hike for 2027-28

The Cabinet Committee on Economic Affairs (CCEA) approved the increase in the Minimum Support Prices (MSP) for all man-dated Rabi crops for the marketing season 2027-28, with safflower receiving the biggest increase, the government announced.

Govt. end-Aug. fiscal deficit hits 41.9% of 2026-27 target

A rise in subsidy spending, particularly on fertilizers, led to the Centre's fiscal deficit touching 41.9% of budgeted target for 2026-27 as of August vis a vis 38.1% at this point last year.

AM Green bags €585 mn green ammonia deal

AM Green Ammonia (India) secured a long-term pact to supply renewable fuels of non-biological ori-gin (RFNBO) ammonia to Germany after emerging as the sole winner of the Asian lot in the H2Global auction conducted by HINT.CO GmbH (Hintco).

Under the pact, Hintco will buy the ammonia from AM Green for a minimum value of €585 million over 10 years. The firm may also secure additional volumes quoted by AM Green, using proceeds from the resale of green ammonia in the European market.

Cabinet approves ₹1.86 lakh crore Green Energy Corridor

The Union Cabinet announced the third phase of the Green Energy Corridor (GEC) that seeks to integrate up to 135 gigawatts of renewable energy into grids across States and Un-ion Territories by fiscal year 2032-33.

SpaceX Starship engine failure could hit NASA'S lunar mission

The Starship engine failure that nearly foiled the orbital debut of SpaceX's next-generation spacecraft on its 14th uncrewed test flight may complicate NASA's ability to meet its time frame for astronaut missions to the moon.

Starship, designed in part to carry large payloads to space, is one of two vehicles vying to become the first craft that NASA will use as early as 2028 to land humans on the moon and bring them safely home, a feat last achieved in 1972 at the end of the Apollo era.