Business
India headed to become world’s 3rd largest economy soon: Report
New Delhi, March 15: The Bharat Progress Report 2025-26, released by the NXT Foundation, highlights India’s rapid economic and technological growth over the year with the achievement of as many as 101 major milestones across digital public infrastructure, highways, railways, space, and renewable energy, taking the country towards the goal of becoming a developed nation.
The report underscores that India became the world’s fourth-largest economy in 2025, overtaking Japan with a nominal GDP of about $4.18 trillion. Driven by a robust 8.2 per cent growth rate, India continues to be the world’s fastest-growing major economy. The country is now on course to soon become the third-largest economy in the world.
The report points to several high-frequency indicators that reflect the economic growth momentum. GST collections reached a record Rs 2.17 lakh crore in April 2025, while the country’s mutual fund industry surpassed Rs 80 lakh crore in assets under management. Besides, cumulative foreign direct investment crossed $1.15 trillion with the surge in investor confidence.
The development of India’s digital public infrastructure, which is being adopted by other countries as well, is reflected in the monthly UPI transactions surpassing Rs 21 lakh crore, while Aadhaar authentication crossed one billion. This enabled the expansion of financial inclusion in the country with a marked improvement in the delivery of government services to the poor in a transparent manner, directly into the accounts of beneficiaries.
On the infrastructure and connectivity front, the major achievements included the completion of the Chenab Rail Bridge, the world’s highest railway arch bridge, and the continued expansion of the Vande Bharat train network, which has enhanced high-speed rail connectivity. At the same time, the country expanded its national highways and logistics networks, helping improve supply chains and reduce transportation costs.
The report further highlights the country’s progress in science and advanced technology. The Space Docking Experiment (SpaDeX) conducted by the Indian Space Research Organisation successfully demonstrated in-orbit docking capability, saw India storming into the exclusive club of countries with this sophisticated technology. A major step was also undertaken during the year to develop domestic capacity in semiconductors, artificial intelligence and quantum computing as the country emerges as an alternative to China for becoming a world manufacturing hub for hi-tech electronic products.
India also made major advancements in achieving its renewable energy goals in the fight against climate change. The country’s share of non-fossil fuel power capacity reached the 50 per cent mark five years ahead of the 2030 target, on the back of strong growth in solar, hydel and wind energy. The report points out that the achievement of these milestones showcases the country’s evolution into a major driver of global growth in the new world order.
Business
Thane-Borivali Twin Tunnel Work Launched; Here’s How TBM Nayak Will Transform Travel For Mumbaikars

Mumbai: The first Tunnel Boring Machine (TBM), named Nayak, has been launched to begin excavation for the Thane–Borivali Twin Tunnel project today. The inauguration was officially done by Chief Minister Devendra Fadnavis along with Deputy Chief Ministers Eknath Shinde and Sunetra Pawar. Transport Minister Pratap Sarnaik was also present at the event, which took place at the TBM launch site in Manpada, Thane.
At present, the 23-kilometre journey between Thane and Borivali takes anywhere between 60 and 90 minutes, largely due to heavy congestion on Ghodbunder Road. Once completed, the new tunnel route will bring this travel time down to just 15 minutes, offering a faster and more reliable commute. The project, which began on May 19, 2023, is expected to be completed by May 2028.
Implemented by MMRDA, the project also includes connecting roads linking the Western Express Highway in Borivali and Ghodbunder Road in Thane.
A machine built for Mumbai’s toughest terrain, a 13.34-metre diameter single-shield TBM—among the largest deployed in urban tunnelling. Weighing nearly 2,500 tonnes and assembled from over a thousand components, the machine represents cutting-edge engineering tailored for challenging geological conditions.
Meanwhile, prior to this, Phase 1 of the long-awaited Metro Line 9 rail service between Dahisar East and Mira Bhayandar was inaugurated. CM Devendra Fadnavis, along with Deputy CM Eknath Shinde, Transport Minister Pratap Sarnaik, and Mumbai Mayor Ritu Tawde, were present at the inauguration ceremony of phase 1 connecting Dahisar East to Kashigaon.
The 4.97 km line connecting Dahisar and Kashigaon, with stations at Pandurang Wadi and Miragaon, is expected to provide relief to commuters in the Mira-Bhayander region, which currently depends heavily on road transport, leading to frequent traffic congestion.
Business
Govt doubles daily 5-kg LPG cylinder quota for migrant labourers across states

New Delhi, April 7: The Centre has decided to double the daily allocation of 5-kg free trade LPG (FTL) cylinders available for distribution to migrant labourers across states, according to an official communication.
The Petroleum Ministry said in a notification the enhanced allocation will be based on the average daily supply of cylinders provided to migrant workers.
The revised allocation goes beyond the earlier cap of 20 per cent specified in March announcement.
The government also said that the additional 5-kg FTL cylinders will be placed at the disposal of state governments and their Food and Civil Supplies Departments for distribution exclusively to migrant labourers with the assistance of oil marketing companies (OMCs).
Earlier, the government had said it was making all efforts to ensure adequate availability of petrol, diesel and LPG amid the prevailing geopolitical situation, while advising citizens to avoid panic buying and rely only on official sources for information.
Consumers were also encouraged to use digital modes for LPG bookings and minimise visits to distributors unless necessary.
The government has prioritised domestic LPG and PNG supplies, along with critical sectors such as hospitals and educational institutions.
It has also implemented several demand and supply-side measures, including enhancing refinery output and increasing LPG booking intervals to 25 days in urban areas and up to 45 days in rural areas.
To ease pressure on LPG demand, alternate fuels such as kerosene and coal have been made available, while states have been advised to expand PNG connections.
The government also said there has been no disruption in LPG supply affecting migrant workers.
According to official data, around 51 lakh domestic LPG cylinders were delivered recently, with online bookings rising to 95 per cent and delivery authentication-based distribution increasing significantly to curb diversion.
Business
Taxes, margins eat half of Pakistan’s petrol price, consumers cry: Report

New Delhi, April 4: Pakistani consumers are bearing almost half of petrol’s retail cost in the form of government levies and industry profit margins, an internal government document has revealed, coming just a day after a massive increase in the prices of both petrol and diesel was announced, a report said.
Petroleum Minister Ali Pervaiz Malik, speaking alongside Finance Minister Muhammad Aurangzeb at a press briefing, announced a Rs 137.23-per-litre rise in petrol prices, pushing the retail rate to Rs 458.41 per litre.
Moreover, high-speed diesel climbed even more steeply, up Rs 184.49 per litre to a new benchmark of Rs 520.35.
Both hikes were attributed to disruptions in the global oil supply chain stemming from the ongoing conflict in the Middle East.
The Ministry of Energy’s pricing document lays bare a cost structure that places the ex-refinery price of petrol at Rs 247.15 per litre — less than the Rs 211.26 per litre piled on through taxes and margins.
Of that non-product portion, a petroleum levy alone accounts for Rs 160.61 per litre, followed by Rs 24.12 in customs duty and Rs 2.50 under the climate support levy.
The inland freight margin adds another Rs 7.52, while oil marketing companies (OMCs) collect Rs 7.87 in profit and pump dealers retain an Rs 8.64 commission per litre.
The picture is markedly different for diesel consumers. The ex-refinery price of high-speed diesel stands at Rs 461.23 per litre, and, unlike petrol, diesel currently attracts no petroleum levy.
In addition, combined taxes and margins on diesel total Rs 59.12 per litre — 11.36 per cent of the retail price — comprising Rs 35.74 in customs duty, Rs 4.37 for inland freight, Rs 7.87 in OMC profit, Rs 8.64 for dealers, and the Rs 2.50 climate levy.
The disclosures have drawn fresh scrutiny to the government’s fiscal strategy, with petrol’s tax-and-margin share more than four times that of diesel, even as pump prices for both fuels reach record highs.
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