This week, India's economic indicators presented a mixed picture. Net GST revenue rose by 7.3% year-on-year, reaching a record ₹2.11 trillion in April, with gross collections at ₹2.43 trillion due to strong import-linked revenues. However, the Index of Industrial Production (IIP) growth slowed to 4.1% in March, marking a five-month low, primarily affected by declines in manufacturing and electricity sectors.

The government also signed a free trade agreement with New Zealand, which will grant India 100% duty-free market access and a $20 billion foreign direct investment (FDI) commitment over 15 years. Despite these positive developments, bank credit growth decelerated to 14.88%, with a contraction of ₹4.51 lakh crore noted in the fortnight ending April 15. Additionally, the price of a 19-kg commercial LPG cylinder was raised by ₹993, now costing ₹3,071.50 in Delhi, while domestic fuel prices remained unchanged.

In rural employment, demand for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) fell by 35.3% year-on-year in April, attributed to uncertainties regarding the transition to the new VB-G RAM G scheme. On the investment front, the Finance Ministry announced a liberalization of the FDI limit in insurance to 100% under the automatic route, while the Department of Economic Affairs eased norms for foreign investments with up to 10% Chinese or Hong Kong shareholding.