India has set export duties on diesel at ₹23 per litre and on aviation turbine fuel (ATF) at ₹33 per litre for the two-week period starting May 1. Petrol exports remain duty-free under the same order. Export duties on fuel are revised fortnightly by the government. They function as a windfall levy, when global prices rise above domestic prices, refiners can profit more by selling abroad. The duty cuts into that margin, nudging supply back toward the domestic market. Diesel and ATF duties being active while petrol stays at nil suggests the government sees a larger gap between domestic and export economics for those two fuels right now. Refiners like Indian Oil, BPCL, and HPCL are directly affected since their export revenue per litre shifts with each revision. Watch the next fortnightly revision for direction, a rising or falling duty signals how the government reads the global-domestic price gap and domestic supply comfort.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
