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RBI expected to prioritise growth during April meet

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The Reserve Bank of India (RBI) is expected to prioritise growth over inflationary fears in its April, 2022 policy meet.

Notably, the consumer price index (CPI) inflation print has remained at elevated level due to higher-than-expected vegetable prices in February.

Moreover, inflation is expected to remain at elevated levels due to higher crude oil price in subsequent months owing to the Russia-Ukraine crisis.

“Nevertheless, we still expect the RBI to prioritise growth in its April 2022 monetary policy meet as we believe growth is still a bigger concern currently rather than inflation,” said Motilal Oswal Financial Services.

“We expect inflation in the range of 5.2-5.4 per cent YoY in FY22.”

Earlier this month, CPI inflation came in at an eight-month high of 6.1 per cent YoY in February 2022.

Besides, food inflation came in at a 15-month high of 5.8 per cent YoY in February 2022 versus 5.4 per cent YoY a month ago.

“Within food, vegetables primarily caused the spike in inflation as excluding vegetables, CPI came in at 6.1 per cent YoY similar to the level seen in January 2022.”

“Other items such as cereals and products, meat and fish, spices, and sugar and confectionary that constitute 17 per cent weight in CPI index also contributed to higher inflation.”

On the contrary, fuel and power inflation came in at a 10-month low of 8.7 per cent YoY in February 2022.

Furthermore, core inflation stood at 6.2 per cent YoY for the fifth consecutive month in February 2022.

“All three components of core inflation remained broadly flat with no major movement.”

“Slightly higher inflation in housing, and clothing and footwear was offset by marginally low inflation in miscellaneous items.”

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No user fee collection from two-wheelers at toll plazas: Govt

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New Delhi, Aug 21: The government on Thursday clarified that no user fee is levied from two-wheelers at the toll plazas on National Highways and National Expressways across the country.

The clarification came after reports surfaced that the National Highways Authority of India (NHAI) would collect user fees from two-wheeler riders at toll plazas.

“In reference to the fake news circulating on social media regarding toll collection from two wheelers on toll plaza, NHAI would like to clarify that no user fee is levied from two wheelers at the Toll plazas on National Highways and National Expressways across the country,” the Ministry of Road Transport and Highways said in a statement.

User fee on National Highways is collected as per the National Highway Fee (Determination of Rates and Collection) Rules, 2008, and there is no proposal to charge toll fee from the two wheelers, the ministry added.

According to the rules, the user fee at toll plazas is charged from four or more wheeled vehicles which include categories like car, jeep, van or light motor vehicle/light commercial vehicle, light goods vehicle or mini bus/bus or truck/heavy construction machinery (HCM) or earth moving equipment (EME) or multi axle vehicle (MAV) (three to six axles)/ oversized vehicles (seven or more axles.

Meanwhile, the NHAI sold over 5 lakh FASTag-based annual toll permits in just four days, collecting Rs 150 crore in revenue. Tamil Nadu recorded the highest number of purchases of annual passes in four days, followed by Karnataka and Haryana.

Further, Tamil Nadu, Karnataka, and Andhra Pradesh recorded the highest number of transactions through FASTag annual passes at toll plazas, a statement by NHAI said. Private vehicles can now use an annual toll pass for free passage through toll plazas on national highways and expressways, with each pass priced at Rs 3,000.

The annual pass is valid for one year from activation or for 200 toll trips, whichever occurs first.

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India To Clock 6.7% Growth Outpacing RBI Monetary Policy Committee’s 6.5% Recent Forecast

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New Delhi: India is expected to clock 6.7 per cent growth in the first quarter of the current fiscal (FY26), outpacing the RBI Monetary Policy Committee’s (MPC’s) recent forecast of 6.5 per cent, credit rating agency ICRA said on Tuesday.The rating agency report projects the growth in the gross value added (GVA) to stand at 6.4 per cent in Q1 FY2026.

Improved transmission of monetary easing and the recent announcement of forthcoming GST rationalisation may help to shore up urban consumption sentiments ahead of the festive season, the report said.”ICRA estimates a double-digit growth in net indirect taxes (in nominal terms), aided by the sharp uptick in the government of India’s indirect taxes (+11.3 per cent in Q1 FY26 from -3.1 per cent in Q4 FY2025), despite the narrower contraction in its subsidy outgo,” said Aditi Nayar, Chief Economist, Head-Research and Outreach, ICRA.

“Benefitting from robust government capital as well as revenue spending, upfronted exports to some geographies and nascent signals of improved consumption, the pace of expansion in economic activity in Q1 FY2026 is estimated at 6.7 per cent,” Aditi Nayar said.The rating agency estimates the YoY growth in the services GVA to increase to an eight-quarter high of 8.3 per cent in Q1 FY26, from 7.3 per cent in Q4 FY25, supporting the overall GVA expansion in that quarter.

In particular, the combined non-interest revenue expenditure of 24 state governments reported a double-digit YoY growth of 10.7 per cent in Q1 FY26, up from 7.2 per cent in Q4 FY25.Likewise, the Central government’s non-interest revenue expenditure saw a turnaround, recording a YoY growth of 6.9 per cent against a contraction of 6.1 per cent in the previous quarter, said the report.

Rural sentiments, as reflected in the Current Situation Index (CSI) improved further in the July 2025 (100.6) round of the RBI’s Rural Consumer Confidence Survey, reflecting favourable trends in farm output in the last two cropping seasons, and the upbeat outlook for the ongoing kharif season, and a considerable cooling in the rural CPI inflation.

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Indian Railways Introduces Discounted ‘Round Trip Package’ To Ease Festive Season Travel

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New Delhi: To avoid rush by ensuring hassle-free ticket booking experience during the upcoming peak festive seasons, the Ministry of Railways on Saturday said that it has decided to formulate a ‘Round Trip Package’ on discounted fare and rebates benefit.

The move will facilitate passengers and redistribute the peak traffic for a larger range during peak festival seasons and ensure both sides utilisation of trains, including special trains.

“It has been decided to formulate an experimental scheme named as Round Trip Package for festival rush on discounted fare,” the Railways Ministry stated.

According to the ministry, the scheme will be applicable for those passengers who choose their return journey during the prescribed period.

Under this scheme, rebates shall be applicable when booked for both the onward and return journey for the same set of passengers.

Passenger details of the return journey will be the same as those of the onward journey. Passengers can book their tickets from August 14 for the advance reservation period (ARP) date of October 13.

“An onward ticket shall be booked first for the train start date between 13th October 2025 and 26th October 2025, and subsequently return journey ticket shall be booked by using the connecting journey feature for the train start date between 17th November and 1st December 2025,” the Ministry stated.

However, advance reservation period will not be applicable for booking of return journey.

Other conditions to avail the benefits of the railway’s new special scheme are the booking shall be permissible only for confirmed tickets in both directions, total rebates of 20 per cent shall be granted on base fare of return journey only, booking under this scheme shall be for the same class and same O-D pair for both onward and return journey.

According to Railways, no refund of fare shall be permissible for the tickets booked under this scheme.

This scheme shall be allowed for all classes and in all trains, including special trains (Trains on demand), except trains having Flexi fare.

In addition, no modification will be allowed on these tickets in either of the journeys, and there will be no discounts, Rail travel coupons, Voucher-based bookings, or Passes be admissible during return journey booking on concessional fare.

Passenger can book their ticket via both online and offline modes; however, both onward and return journey tickets must be booked using the same mode (online or offline).

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