Noida International Airport inauguration: Delhi-NCR gets new airport – all you need to know
PM Modi inaugurates Jewar airport NEW DELHI: Prime Minister Narendra Modi on Saturday inaugurated Phase I of the Noida International Airport at Jewar in Uttar Pradesh, marking a significant milestone in India’s expanding aviation infrastructure.PM Modi was accompanied by Uttar Pradesh chief minister Yogi Adityanath and Governor Anandiben Patel. Developed at an investment of around Rs 11,200 crore under a Public–Private Partnership (PPP) model, the project is expected to enhance both regional and international connectivity for the National Capital Region (NCR).The airport is being positioned as a key addition to India’s aviation network, aimed at easing pressure on existing infrastructure while supporting the country’s ambition of becoming a global aviation hub. Second international gateway for Delhi NCR Noida International Airport has been developed as the second international gateway for Delhi NCR, complementing the existing Indira Gandhi International Airport, which currently handles the majority of the region’s air traffic. . With rising passenger demand and capacity constraints at IGI Airport, the new facility is expected to play a crucial role in distributing traffic more efficiently.Together, the two airports will function as an integrated aviation system, helping reduce congestion, improve connectivity, and enhance the region’s standing among leading global aviation hubs. Phase I capacity and future expansion plans Phase I of the airport is designed to handle 12 million passengers per annum (MPPA), providing immediate relief to the region’s growing air travel demand.The project has been planned with scalability in mind, with provisions to expand capacity to 70 million passengers annually in subsequent phases. This long-term vision reflects the government’s strategy to future-proof infrastructure and accommodate sustained growth in air travel. Modern infrastructure and all-weather operations The airport features a 3,900-metre runway capable of handling wide-body aircraft, making it suitable for both domestic and international long-haul operations. . Equipped with advanced navigation systems such as the Instrument Landing System (ILS) and modern airfield lighting, the facility is designed to support efficient, all-weather, round-the-clock operations. These features ensure operational reliability even under challenging weather conditions. Cargo hub and logistics ecosystem In addition to passenger services, the airport includes a comprehensive cargo ecosystem aimed at strengthening logistics and trade.The Multi-Modal Cargo Hub comprises an Integrated Cargo Terminal and dedicated logistics zones, with an initial handling capacity of over 2.5 lakh metric tonnes annually. This capacity is expected to expand significantly to around 18 lakh metric tonnes in the future, positioning the airport as a major cargo and logistics centre in North India. Dedicated MRO facility to enhance efficiency A key component of the airport’s infrastructure is a 40-acre Maintenance, Repair and Overhaul (MRO) facility.This dedicated facility is expected to improve operational efficiency by enabling airlines to service and maintain aircraft locally, reducing turnaround times and operational costs. It also strengthens India’s capabilities in aviation maintenance services. Watch PM Modi To Inaugurate Noida International Airport Phase 1 On March 28: All You Need To Know Sustainability and future-ready design Noida International Airport has been designed as a sustainable and future-ready infrastructure project, with a focus on achieving net-zero emissions.The project incorporates energy-efficient systems and environmentally responsible practices, aligning with India’s broader climate goals. The airport’s development reflects a growing emphasis on green infrastructure in large-scale projects. Architecture inspired by Indian heritage Blending modern infrastructure with cultural aesthetics, the airport’s architectural design draws inspiration from traditional Indian elements such as ghats and havelis.This approach aims to create a distinctive identity for the airport while offering passengers a sense of place rooted in Indian heritage. Strategic location and multi-modal connectivity Strategically located along the Yamuna Expressway in Gautam Buddha Nagar district, the airport is planned as a multi-modal transport hub.It will feature seamless integration with road, rail, metro and regional transit systems, ensuring smooth connectivity for passengers and cargo.This connectivity is expected to significantly improve accessibility for travellers across Delhi NCR and neighbouring regions. Boost to India’s aviation ambitions The inauguration of Phase I of Noida International Airport is being seen as a major step in strengthening India’s aviation ecosystem.By expanding capacity, improving connectivity, and integrating modern infrastructure with sustainability, the project is expected to play a key role in positioning Delhi NCR as a major global aviation hub while supporting economic growth and regional development
Petrol, diesel prices today: With ongoing US-Israel-Iran war, what India’s fuel situation looks like – 10 things to know
Petrol prices today: Petrol prices in New Delhi on Saturday remained unchanged at Rs 94.77 per litre, while diesel is steady at Rs 87.67 per litre. Similarly, Mumbai sees petrol at Rs 103.54 per litre and diesel at Rs 90.03, with no change from yesterday. Kolkata reported a slight fall in petrol prices to Rs 105.41 per litre from Rs 105.45, and diesel is at Rs 92.02 per litre. In Chennai, petrol rose marginally to Rs 101.06 per litre and diesel to Rs 92.61 per litre.The ongoing US-Iran conflict has disrupted oil supply chains and sent crude prices soaring worldwide.Here are top 10 things to know: Global oil price surge The conflict in West Asia has triggered sharp increases in international crude oil prices. Since February 28, when US and Israeli strikes targeted Iranian facilities, Brent crude briefly surged to $119 per barrel before easing to around $100. West Texas Intermediate (WTI) similarly rose from $70 pre-conflict to over $92, creating supply shocks globally.India’s oil dependenceIndia imports around 88% of its crude oil requirements, with nearly half transported through the Strait of Hormuz, a critical maritime strait located between Persian Gulf and Gulf of Oman.Any disruption here poses an immediate risk to domestic fuel availability. Tehran’s warnings to vessels and insurer withdrawals have complicated tanker movement, impacting supply.Excise duty cut by governmentTo shield consumers from rising global crude prices, the Centre slashed excise duty on petrol from Rs 13 to Rs 3 per litre and removed it entirely on diesel (from Rs 10). The reduction aims to maintain stable retail prices and prevent a direct burden on citizens.No immediate price reliefDespite the excise duty cut, petrol and diesel prices at the pump have largely remained unchanged. Oil marketing companies (OMCs) are absorbing the higher input costs, ensuring that retail prices do not spike amid global volatility.Financial implications of duty cutsThe excise duty reduction is expected to cost the government roughly Rs 1.75 lakh crore annually. This measure offsets potential increases of Rs 24 per litre for petrol and Rs 30 per litre for diesel that would have been necessary due to rising international crude prices.Cargo and export measuresThe government imposed export duties of Rs 21.5 per litre on diesel and Rs 29.5 per litre on ATF to ensure domestic availability and prevent windfall gains in international markets. Private retailer pricing variationsNayara Energy, India’s largest private fuel retailer, increased petrol by Rs 5 per litre and diesel by Rs 3 per litre at its 6,967 outlets to offset input costs. In contrast, Jio-BP, operating 2,185 outlets, has maintained retail prices despite significant losses.Strategic domestic measuresPrime Minister Narendra Modi speaking at the Rajya Sabha said that India maintains strategic reserves of 53 lakh metric tonnes of crude oil, with plans to expand to over 65 lakh MT.Ethanol blending has reduced crude oil imports by 4.5 crore barrels annually. Increased refining capacity, metro expansion and railway electrification have also reduced dependency on diesel, helping stabilize domestic fuel consumption.Diplomatic efforts and global sourcingPM Modi has been actively engaging with Iran, the US, and other countries to secure safe transit of oil and LPG tankers. India has diversified import sources from 27 to 41 countries and procured Russian crude to fill supply gaps. Government initiatives include a Rs 70,000-crore shipbuilding project and the constitution of seven empowered groups to manage fuel, supply chains, and logistics.Consumer protection and public assuranceThe government’s overarching objective is to ensure stable prices, uninterrupted fuel supply, and minimal hardship for consumers. Finance minister Nirmala Sitharaman and petroleum minister Hardeep Puri have emphasised a “people-centric” approach. PM Modi has reassured citizens that India has adequate fuel reserves and supply mechanisms, while strategic interventions will continue to absorb global price shocks.
India’s remittance inflows double in a decade; US, UK, Canada, Australia drive surge
Rising remittance inflows to India have doubled in the past 10 years, with four advanced economies—the United States, the United Kingdom, Canada, and Australia—accounting for a growing share of the funds. Migration of higher-skilled Indians to these countries, combined with rising incomes among the diaspora, has helped reduce India’s dependence on any single region while enhancing financial resilience, according to a report by Indiaspora, a San Francisco-based NGO of global Indian-origin executives.“India’s diaspora sends home $138 billion annually, more than FDI inflows. The 35-million Indian diaspora generates over $700 billion in income globally,” Rajan Navani, a board member at Indiaspora, told ET.Beyond macroeconomic benefits, remittances play a key role at the household level. In states such as Kerala, for example, these funds are often directed toward housing upgrades, loan repayments, and education.Kerala receives about 20% of India’s total remittances despite accounting for just 3% of the 1.4 billion population.More than 70% of diaspora respondents expect transfers to India to either increase or remain stable over the next two years.Indian-origin professionals are also increasingly influencing the country’s start-up and philanthropic sectors. Over 75% of overseas angel investors backing Indian start-ups are of Indian origin, while Indian-origin leaders hold decision-making positions in more than half of the world’s largest foundations, collectively directing over $500 million annually to Indian non-profits.In the medical field, one in 10 physicians in the United States is of Indian origin. Indian-origin professionals are also leading major medical and pharmaceutical institutions, including the American Medical Association the Royal College of Physicians, and companies such as Novartis and Vertex Pharmaceuticals.
Strait of Hormuz disruptions: India’s crude buys from Russia may double from January levels; reach 40% of oil imports
Russian oil supplies to India could rise sharply, potentially doubling from January levels to account for at least 40% of India’s total imports. (AI image) As supply disruptions from the Strait of Hormuz continue due to the US-Iran war, India has stepped up its purchases of Russian crude oil. In fact, compared to the January levels, India’s procurement of Russian crude may actually double!Russian crude has once again taken centre stage amid the ongoing US-Iran conflict, as disruptions in global supply through the Strait of Hormuz have made it difficult for Middle Eastern producers to ship oil, driving prices sharply higher. This has had a significant impact on India, which depends on imports for nearly 90% of its crude oil needs.Traditionally, India has sourced most of its crude from the Middle East, particularly Iraq, Saudi Arabia and the UAE, owing to geographical proximity, established contracts and reliable shipping routes. Russian Crude Imports May Double! India and Russia are moving to strengthen their energy ties, with discussions underway to enable Moscow to restart direct liquefied natural gas sales to India for the first time since the Ukraine conflict began.According to a Reuters report, decisions on energy ties took place on March 19 in Delhi between Russian Deputy Energy Minister Pavel Sorokin and Petroleum and Natural Gas Minister Hardeep Singh Puri. Both sides explored expanding crude oil trade. According to three people aware of the deliberations, Russian oil supplies to India could rise sharply, potentially doubling from January levels to account for at least 40% of India’s total imports within about a month!Following the outbreak of the Russia-Ukraine war in 2022, Russia had emerged as a major supplier, accounting for about 35–40% of India’s crude imports at one point. However, by early 2026, sanctions led to a decline in these purchases. However, the situation has shifted again in March 2026 after the Donald Trump administration introduced a 30-day waiver allowing the purchase of Russian crude in an effort to stabilise global oil prices. While India never completely stopped importing Russian oil, volumes had dropped sharply after sanctions were imposed on major Russian producers. After Western sanctions following the Ukraine conflict limited Russia’s access to European markets, India increased its intake of Russian oil, attracted by discounted prices and compatibility with domestic refineries.Also Read | US-Iran war impact: India’s crude imports from Russia near all time highs; will such high numbers continue?This strategy helped lower import costs and diversify supply sources. However, towards the end of 2025 and into early 2026, India reduced purchases of Russian crude amid trade negotiations with the US and concerns over tariffs and sanctions. In August 2025, the US imposed a 25% tariff linked to India’s Russian oil imports, while sanctions on companies such as Lukoil and Rosneft further constrained procurement, leading to a gradual dip in volumes. That trend has now reversed.Data from Kpler indicates that India has already bought an estimated 45–50 million barrels of Russian crude since the onset of the Middle East conflict, with actual figures likely higher as April data is still pending. Current trends suggest that March imports could reach around 1.8 to 2.0 million barrels per day, marking one of the strongest months since India significantly increased purchases after the Ukraine war. This compares with earlier levels of about 1.0 million barrels per day.Historically, India’s peak monthly intake of Russian crude has been in the range of 2.0 to 2.1 million barrels per day since 2022. The latest surge indicates that imports are once again approaching those earlier highs, reversing the decline seen in recent months.
LPG crisis: No respite for restaurants yet
MUMBAI/BENGALURU: The restaurant industry is struggling to run regular operations due to the meagre supplies of LPG cylinders . With the govt’s move to hike commercial LPG allocation to up to 70%, it will take some time before the measure actually translates into sustained supply, executives said. “Supply is still hugely limited and erratic. A feeling of uncertainty looms large,” said Anurag Katriar, founder at Indigo Hospitality. The key question is how quickly this revised allocation will translate into on-ground availability, said Pradeep Shetty, vice-president at Federation of Hotel & Restaurant Associations of India (FHRAI). Watch Centre Pushes PNG: LPG Supply May Be Stopped Where Pipelines Are Available A walk along Indiranagar’s 12th Main, known for its cluster of independent restaurants, reflects the strain. “It is all hand-to-mouth at this point,” said Nikhil Gupta, who runs brands including The Pizza Bakery and Paris Panini . The move doesn’t directly help the restaurant sector which is still getting 20%-30% of LPG supplies, said Sagar Daryani, co-founder & CEO at Wow! Momo Foods and president at National Restaurant Association of India (NRAI). State-wise, the supply situation varies with some such as Maharashtra, Karnataka, Rajasthan restricting allocation for restaurants, hurting the sector , Daryani said. Poll How long do you predict it will take for improved LPG allocation to benefit restaurants?
Govt, RBI plan to equally spread FY27 borrowings
MUMBAI: The govt on Friday said that it plans to borrow Rs 8.2 lakh crore between April and Sept this year under its Budget-approved borrowing programme, roughly half of the Rs 16.2 lakh crore in total. The borrowing for the first half of fiscal 2027 would be spread over 26 weekly auctions with about 25% of the total borrowing coming from longer-duration govt securities, that of 30-50-years tenures.Earlier in the day, the benchmark yield on the 10-year gilts hit an intra-day high at 6.95%, the level not seen since July 2024, as the war in West Asia is now threatening the govt’s fiscal numbers and raising chances of an economic slowdown. Against the backdrop of a very uncertain market environment with high energy prices, currency depreciation and rising global fixed income yield, bond market players said that the govt’s announced borrowing calendar is likely to provide some relief to the ovareall market sentiment.According to Ramkamal Samanta, CIO, Star Union Dai-ichi Life Insurance, gilt market participants would feel positive from three factors: The recently concluded switch of govt bonds, the equally spread borrowing in FY27 and the lower share of long-dated papers compared to in FY26.
Govt moves bill to decriminalise laws for businesses, individuals
NEW DELHI: Govt on Friday moved a fresh bill to decriminalise provisions across 79 central laws as part of its efforts to make life simpler for businesses and individuals.Govt officials said along with amendments to the Companies Act, which are currently pending in Parliament, as well as the new income tax law, the overall decriminalisation exercise now covers over 1,000 provisions.The amendments cover laws as diverse as Damodar Valley Corporation to the ones governing road transport corporations and Central Silk Board and New Delhi Municipal Corporation.For instance, violations related to making of rules and regulations for road transport corporations will no longer attract jail terms. Similarly, some of the offences related to “mischief” caused in the development or maintenance of a national highway, will not face imprisonment. Same is the case with some of the offences under The Slum Areas (Improvement and Clearance) Act, 1956 as well as the Mines and Minerals (Development and Regulations) Act, DDA Act and the Delhi Municipal Corporation Act.An overhaul of the 153-year-old Cattle Trespass Act will decriminalise key offences, replace jail terms with financial penalties and route collected fines to animal welfare. The definition of cattle, so far limited to bovines, is being expanded to include camels, buffaloes, horses, pigs, sheep and goats.Under the Drugs and Cosmetics Act, for manufacturing or sale of spurious cosmetics, instead of one year jail, there will be a fine that can be extended up to three times the value of the seized product. Govt has proposed to reduce the jail term for interfering with seized items, such as food and vehicles, under the Food Safety and Standards Act, 2006, from a maximum of six months to three months.It also seeks to carry out 20 amendments under the Motor Vehicle Act, to relax some compliances and resolve legal ambiguities. These include, allowing vehicle registration throughout the state instead of at a particular jurisdiction, providing a grace period of 30 days after the expiry of the licence, during which the licence will remain effective.In all, 784 provisions are proposed to be amended under the bill, of which 717 provisions are being decriminalised and in the case of 67 provisions, the idea is to make life simpler.The bill proposes to remove imprisonment in 57 provisions and fines in 158 provisions. Also, imprisonment is proposed to be reduced in 17 provisions, and imprisonment and fines are proposed to be converted to a penalty in 113 provisions.
Centre, oil companies to split impact of higher crude
NEW DELHI: The Centre’s move to slash excise and impose windfall tax on diesel and aviation fuel will leave it poorer by around Rs 1.3 lakh crore if the energy crisis due to the West Asia conflict persists for a full year.An early resolution will reduce the pressure on oil prices and consequently on govt and oil companies. On Thursday, ratings agency ICRA had said that the recently set up Economic Stabilisation Fund can help offset some of the fiscal impact.For the moment, it has managed to ensure that consumers are fully protected as the oil retailers and govt will split the burden of higher crude prices. For the oil marketing companies (OMCs), which will have to take a hit during the March quarter, the impact will not be significant if the Indian basket remains around the current level of $112 a barrel.“With the recent reduction in excise duty and no change in the retail prices of petrol and diesel, OMCs are expected to break even at a crude oil price of around $106 a barrel for their refining and retailing operations, vis-à-vis around $90 a barrel before this excise duty cut,” CareEdge Ratings said in a note.For the current fiscal year, however, oil companies are fully protected as they raked in profits on every litre of petrol that was sold by them until the war broke out, just as the Centre was mopping up revenue, as the gains from lower oil prices were not passed on.For the states, revenue from VAT is likely to increase by at least Rs 25,000 crore in FY27, with Karnataka being the top gainer, SBI Research said in a report, while suggesting that they should lower the levy in line with the Centre.
Credit-deposit ratio of banks touches a record 83%
MUMBAI: Credit-deposit ratio of banks hit an all-time high of 83% as of March 15, 2026, after deposits fell and credit continued to expand during the reporting fortnight.Aggregate deposits declined by Rs 1.8 lakh crore duCredit growth outpaced deposit mobilisation through the current financial year, with incremental credit at Rs 25.3 lakh crore exceeding incremental deposits of Rs 24.3 lakh crore. As a result, the incremental credit-deposit ratio stood at 103.9%. Historically, an 80% credit-deposit ratio is seen as healthy as it factors in the 3% of bank deposits that have to be maintained as cash reserves (CRR) and 18% in liquid govt bonds (statutory liquidity ratio) ring the fortnight to Rs 250 lakh crore, while bank credit rose by Rs 18,672 crore to Rs 207.6 lakh crore. According to data, the divergence between deposits and credit pushed the ratio to a record level.Credit growth outpaced deposit mobilisation through the current financial year, with incremental credit at Rs 25.3 lakh crore exceeding incremental deposits of Rs 24.3 lakh crore. As a result, the incremental credit-deposit ratio stood at 103.9%. Historically, an 80% credit-deposit ratio is seen as healthy as it factors in the 3% of bank deposits that have to be maintained as cash reserves (CRR) and 18% in liquid govt bonds (statutory liquidity ratio)The decline in deposits alongside the expansion in credit widened the gap between credit growth (13.8%) and deposit growth of (10.8%) for the financial year.Before the current financial year, the last period when credit-deposit ratio consistently crossed 100% was between late 2022 and late 2023, covering FY23 and early FY24. During the pandemic recovery phase, pent-up corporate and retail credit demand surged at 16%-17% YoY, while deposit growth lagged at 9%-10%, keeping the ratio in the 100%-130% range.Part of the recent credit surge reflects a change in reporting dates from alternate Fridays to the 15th and 30th of each month, which captures quarter-end disbursements by banks.
1 month on, Iran war leaves investors poorer by Rs 41.4 lakh crore
MUMBAI: The day the war in West Asia completed a month, Dalal Street witnessed one of its most brutal sell-offs since the conflict began on Feb 28. During Friday’s session, with sensex-heavyweight Reliance Industries tanking 4.6%, the index closed 1,690 points or 2.3% lower at 73,583 points.The crash in RIL’s stock price that came on the back of imposition of windfall tax on petro-product exporters by govt, the rupee’s slide to a record low level against the dollar, rising bond yields and strong foreign fund selling, all because of the war in West Asia, led to Friday’s slide in stocks, market players said. Sensex tanks 1690 points The sell-off left investors poorer by nearly Rs 9 lakh crore with BSE’s market capitalisation now at Rs 422.2 lakh crore, exchange data showed.Foreign funds were again the main sellers of stocks with the net outflow figure at Rs 4,367 crore, BSE data showed.Since the war between the US-Israel and Iran started, the sensex has lost a little over 7,700 points or 9.5% while investors are poorer by about Rs 41.4 lakh crore. During the same period, foreign portfolio investors (FPIs) have net taken out a little over Rs 1.1 lakh crore from the domestic stock market, data from NSDL and BSE showed. Poll How concerned are you about the impact of the war in West Asia on the Indian stock market? According to Vinod Nair of Geojit Investments, Indian equities ended lower after a volatile session as rising bond yields coupled with negative cues from western markets and mixed Asian performance kept investors on the edge. Nair feels that the near-term sentiment for market remained fragile amid geopolitical risks and potential earnings downgrades due to supply shocks.
