India's fertilizer output has fallen sharply over March and April, with total production for the two months expected to land around 64 lakh tonnes, down nearly 12 lakh tonnes from the same period last year. The drop is tied to supply disruptions caused by the conflict involving Iran, which has affected the flow of raw materials or feedstock used in fertilizer manufacturing. Fertilizer production in India depends heavily on imported inputs, particularly natural gas and chemical precursors. Disruptions in West Asia can cut off or delay these supplies, forcing plants to scale back output or idle capacity. Even after accounting for an estimated 4, 5 lakh tonnes of production still expected in the final days of April, the shortfall remains steep. A 12 lakh tonne deficit across just two months is significant heading into the kharif sowing season, when demand from farmers peaks. If domestic production stays weak, India may need to step up imports to bridge the gap, which could raise costs for the government given its subsidized fertilizer pricing regime. Procurement timelines and subsidy outlays are the key figures to watch in the weeks ahead.
Pakistan's economy grew 3.7 percent in FY2026, its fastest rate in four years, according to the Pakistan Economic Survey presented by Finance Minister Muhammad Aurangzeb. Growth beat last year's 3.18 percent but missed the 4.2 percent target, with floods, regional conflict, and weaker food exports cited as key drags.
The Union government released an additional Rs 1,09,019 crore in tax devolution to states on August 1, 2026, separate from the regular monthly transfer. The lump-sum release aims to accelerate state capital spending in the July-September quarter, with Uttar Pradesh, Bihar, and Madhya Pradesh among the top recipients.
US mortgage rates have risen to a one-year high as markets weigh Federal Reserve rate uncertainty and Middle East conflict-driven inflation fears. Higher rates increase monthly payments for new buyers and are likely to further suppress housing market activity and refinancing.
Pakistan's Sensitive Price Index rose 13.52 percent year on year for the week ending July 2, 2026, marking 45 consecutive weeks of annual gains. Electricity up 49 percent, wheat flour up 68 percent, and LPG up 44 percent year on year are the main drivers.
