Economy

The Maharashtra government has initiated plans to introduce a comprehensive policy aimed at strengthening the delivery of digital public services across the state. The proposed framework will focus on improving access to government services through Maha e-Seva and Aadhaar service centers, which act as key digital access points for citizens. With demand for online services and Aadhaar-linked transactions rising rapidly, authorities are working to standardize operational procedures and ensure timely service delivery.

Pakistan’s government has ordered strict action against the hoarding of petroleum products as authorities move to safeguard energy supplies amid rising regional tensions linked to the ongoing Iran conflict. Prime Minister Shehbaz Sharif convened a high-level meeting with federal ministers and provincial representatives to review the country’s fuel reserves and supply chain stability. Officials reported that current petroleum stocks are sufficient to meet domestic demand, but precautionary measures are being implemented to prevent artificial shortages and market manipulation.

Global stock markets experienced a sharp downturn as escalating tensions in the Middle East pushed crude oil prices higher, triggering widespread investor concern. The surge in energy costs has raised fears of inflationary pressure, slower economic growth, and disruptions in global supply chains. Key benchmark indices across major economies recorded declines as investors shifted toward safer assets. Analysts say geopolitical instability in energy-producing regions can significantly influence financial markets due to oil’s central role in global trade and manufacturing.

Several of India’s largest publicly listed companies witnessed a significant erosion in their combined market capitalization last week, with total losses estimated at approximately Rs 2.81 lakh crore. The decline reflects broader volatility in the equity markets driven by global economic uncertainties, cautious investor sentiment, and sector-specific pressures. Major corporations across banking, information technology, and energy segments experienced notable valuation corrections.

Maharashtra’s total outstanding debt is projected to increase by 11.1 percent in the 2025–26 financial year, reaching approximately Rs. 9.3 lakh crore, according to the state’s latest Economic Survey. Despite the rise in liabilities, the state’s debt levels remain comfortably within the fiscal discipline framework established under the Fiscal Responsibility and Budget Management (FRBM) rules. The debt-to-Gross State Domestic Product (GSDP) ratio is expected to stand at 18.3 percent, significantly below the mandated ceiling of 25 percent.

Punjab’s government has unveiled its Rs. 2,60,437 crore budget for the 2026–27 fiscal year, marking the final financial blueprint before the state heads into elections scheduled for early 2027. Presented in the Legislative Assembly by Finance Minister Harpal Singh Cheema, the budget highlights the administration’s focus on social welfare, governance reforms, and economic resilience. Dedicated symbolically to the mothers and daughters of Punjab, the financial plan underscores the government’s emphasis on inclusive development and social equity.

Punjab’s government has unveiled its Rs. 2,60,437 crore budget for the 2026–27 fiscal year, marking the final financial blueprint before the state heads into elections scheduled for early 2027. Presented in the Legislative Assembly by Finance Minister Harpal Singh Cheema, the budget highlights the administration’s focus on social welfare, governance reforms, and economic resilience. Dedicated symbolically to the mothers and daughters of Punjab, the financial plan underscores the government’s emphasis on inclusive development and social equity.

Punjab’s latest state budget earmarks Rs. 11,577 crore for the Home Affairs department, underscoring the government’s focus on strengthening internal security, modernizing policing infrastructure, and improving law-and-order management. The allocation is expected to support police modernization, intelligence systems, technology upgrades, and improved emergency response capabilities across the state. Officials say the funding will also enhance training programs, digital surveillance infrastructure, and operational resources for law-enforcement agencies.

Gold prices in India retreated sharply after reaching elevated levels, with traders booking profits for a second consecutive session. In the national capital, the price of gold declined by Rs. 1,100 to Rs. 1,64,100 per 10 grams, reflecting cooling momentum after a strong rally in recent weeks. Silver also witnessed a modest decline, falling Rs. 600 to Rs. 2,71,700 per kilogram. Market analysts attribute the pullback to a stronger US dollar, rising US Treasury yields, and diminishing expectations of near-term interest rate cuts by the Federal Reserve.

Pakistan has sharply increased petrol and diesel prices by PKR 55 per litre, marking the largest single hike in the country’s history. The decision comes amid mounting global energy uncertainty triggered by geopolitical tensions in the Middle East. Government officials announced the move during a late-night press briefing, assuring citizens that national fuel reserves remain adequate despite market volatility. The increase pushes petrol and high-speed diesel prices to unprecedented levels, significantly raising transportation and industrial costs.