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Each UPI app will allow users to check their bank balance 50 times a day. UPI apps will also be able to limit or stop balance enquiry requests to reduce the load on UPI during peak hours. From August, users will be able to see the available balance in their account with every transaction.

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He called the reports misleading and clarified that no such proposal is under consideration.

Taking to social media platform X, the Union Minister said: “Some media houses are spreading misleading news about toll tax being levied on two-wheelers. No such decision has been proposed.”

“Two-wheelers will continue to be exempt from tolls. Spreading such baseless news without verifying the facts is not responsible journalism. I strongly condemn it,” the Union Minister stated.

The clarification comes after a report claimed that toll payment would soon be made mandatory for two-wheelers at all national highway toll plazas, and that riders would need to equip their vehicles with FASTag.

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On Tuesday, gold of 99.9% purity had closed at ₹98,900 per 10 grams. Meanwhile, gold of 99.5% purity also dropped by ₹250 to ₹98,050 per 10 grams (inclusive of all taxes), marking the fifth consecutive session of decline.

According to Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, “Gold prices consolidated at the lower end of the range with a slightly bearish tone. The announcement of a ceasefire between Iran and Israel has eased geopolitical tensions, reducing safe-haven demand and pushing gold to a two-week low.”

Silver prices also witnessed a steep fall, tumbling ₹1,100 to ₹1,03,100 per kilogram on Wednesday. The white metal had ended at ₹1,04,200 per kg in the previous session.

In the international market, spot gold was trading marginally lower at USD 3,322.56 per ounce.

Jateen Trivedi, VP – Research Analyst at LKP Securities, noted, “Investors are awaiting key economic triggers such as Fed Chair Jerome Powell’s testimony, along with US GDP data and the Core PCE Price Index. These are important indicators that could influence the Federal Reserve’s stance on interest rates.”

Chintan Mehta, CEO of Abans Financial Services, added that markets remain sensitive to escalating trade tensions and geopolitical risks, which may impact global financial markets and commodity prices. He warned that any further escalation could heighten volatility, particularly in safe-haven assets and crude oil.

Overall, investors are expected to remain cautious amid mixed global signals and uncertain macroeconomic indicators.

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“As compared to the previous fare revisions in 2020 and 2013, the current increase will be the lowest,” a railway official said.
“So far as suburban train and monthly season tickets are concerned, it is being decided not to increase any fare in the interest of the daily commuters,” he added.
The official said that ordinary second class fare will not be increased for up to 500 kms and for distances beyond that, there might be an increase in the ticket prices by half paisa per km.
According to the railway officials, before this, the train fare was increased on per km basis on January 1, 2020 when second class fare for ordinary and Mail/Express trains was increased by 1 paisa and 2 paise respectively whereas sleeper class and all AC classes fare went up by 2 paise and 4 paise respectively.
“Before 2020, it was in 2013 when the train fares for all classes were revised significantly. For instance, while the second class fare for ordinary trains was raised by 2 paise, the second class fare for Express/Mail trains increased by 4 paise. Further, the sleeper class fare also went up by 6 paise,” the official said.
He added, “In 2013, all AC classes fares except AC II were enhanced by 10 paise, while AC II fare was enhanced by 6 paise per km.”

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The minister said the pass will enable smooth and cost-effective travel across National Highways nationwide. A dedicated link for activation and renewal will soon be available on the Rajmarg Yatra App, as well as on NHAI and MoRTH websites.

Gadkari highlighted that the policy addresses issues related to toll plazas within a 60 km radius and simplifies toll payments with a single transaction. The annual pass is expected to reduce wait times, ease congestion, and minimize disputes at toll plazas, delivering a faster and smoother travel experience for millions of private vehicle owners.

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The sub-4 per cent average retail inflation projection is the lowest in recent years.

The RBI, which cut key policy rate by 50 basis points to 5.5 per cent, said that despite these favourable prognoses, it would remain watchful of weather-related uncertainties and still evolving tariff-related concerns with their attendant impact on global commodity prices.

The RBI, in its monetary policy announcement in April, had projected retail inflation to average 4 per cent in FY26.

In its policy on Friday, RBI Governor Sanjay Malhotra said assuming a normal monsoon, consumer price index (CPI) inflation for the financial year 2025-26 is now projected at 3.7 per cent, with June and September quarters at 2.9 per cent and 3.4 per cent, respectively. Inflation is projected at 3.9 per cent for the December quarter and 4.4 per cent for the March quarter.

The retail inflation in April moderated to a near 6-year low of 3.16 per cent.

The RBI said the outlook for inflation points towards benign prices across major constituents.

The record wheat production and higher production of key pulses in the Rabi crop season should ensure an adequate supply of key food items. Going forward, the likely above normal monsoon along with its early onset augurs well for Kharif crop prospects.

“Reflecting this, inflation expectations are showing a moderating trend, more so for the rural households. Most projections point towards continued moderation in the prices of key commodities, including crude oil,” Malhotra said.

The RBI has been mandated to keep inflation at 4 per cent with a band of (+/- 2 per cent). The retail inflation remained below the 4 per cent limit for three months in a row till April 2025.

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Following the rate cut, the key policy rate eased to a three-year low of 5.5 per cent, providing relief to home, auto and corporate loans borrowers.

This is the lowest repo rate in three years.

The repo rate — the rate at which banks borrow funds from the RBI — had last stood at 5.40 per cent on August 5, 2022.

After a detailed assessment of the evolving macroeconomic and financial development, as well as the economic outlook, the Monetary Policy Committee (MPC) decided to reduce the repo rate by 50 basis points, RBI Governor Sanjay Malhotra said.

Since February 2025, the RBI has reduced the policy rate by 100 basis points. In its previous policy review in April, it had also trimmed the repo rate by 25 basis points to 6 per cent.

After reducing repo by 100 bps in quick succession, monetary policy is left with limited space to support growth, he added.

This is the first time since Covid-19 that the RBI has passed on three consecutive rate cuts, beginning February 2020.

Malhotra, however, retained the GDP forecast for the current fiscal at 6.5 per cent. The inflation projection was lowered to 3.7 per cent from the earlier estimate of 4 per cent, supported by expectations of a good monsoon.

The MPC felt that the front-loading of the rate cuts would help growth, he added.

The Rate-setting panel changed the stance to neutral from ‘accommodative’.

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The growth in the January-March period was lower than the 8.4 per cent expansion in the year-ago quarter.

According to the data released by the National Statistics Office (NSO), the economy expanded 6.5 per cent in 2024-25 against a 9.2 per cent growth in 2023-24.

The NSO, in its second advance estimate of national accounts, had pegged the country’s growth at 6.5 per cent for 2024-25.

China has registered an economic growth of 5.4 per cent in the first three months of 2025 (January-March 2025).

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The agriculture ministry’s proposal on MSP for the new kharif season was approved in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.

The announcement comes amid southwest monsoon reaching earlier than usual, giving a boost to the sowing of kharif crops, which contribute over 50 per cent of India’s total annual foodgrain production.

Briefing media after the cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw said, “Two key decisions were taken for the welfare of farmers — kharif crops MSP and interest subvention scheme.”

In the last 10-11 years, there has been a “massive” increase in the support price of 14 kharif crops in line with the recommendation of the Commission for Agricultural Costs and Prices, he said.

For the 2025-26 kharif marketing season, the support price for ‘common’ and ‘A grade’ varieties of paddy has been increased by Rs 69 each to Rs 2,369 per quintal and Rs 2389 per quintal, respectively.

Among other cereals, the support price of ragi has been raised by by Rs 596 to Rs 4,886 per quintal, jowar by Rs 328 to Rs 3,699 per quintal (hybrid) and Rs 3,749 per quintal (Maldani),maize by Rs 175 to Rs 2,400 per quintal and bajra by Rs 150 to Rs 2,775 per quintal for 2025-26.

Pulses MSP has been increased by up to 5.96 per cent, while that of oilseeds by up to 9 per cent from over the previous year to boost domestic production and reduce the import dependency.

The support price for tur has been increased by Rs 450 to Rs 8,000 per quintal, urad by Rs 400 to Rs 7,400 per quintal and moong by Rs 86 to Rs 8,768 per quintal for the said period.

Similarly, groundnut MSP has been raised by Rs 480 to Rs 7,263 per quintal, soyabean by Rs 436 to Rs 5,329 per quintal, sunflower seeds by Rs 441 to Rs 7,721 per quintal for the 2025-26 kharif marketing season.

Sesamum support rate has been increased by Rs 579 per quintal to Rs 9846, while that of nigerseed by Rs 820 per quintal to Rs 9,537 for 2025-26.

Among cash crops, cotton MSP has been increased by Rs 589 per quintal each to Rs 7,710 (medium staple) and Rs 8,110 (long staple), respectively, for 2025-26.

In recent years, the government has been promoting the cultivation of crops other than cereals, such as pulses and oilseeds, and nutri-cereals/shree Anna, by offering a higher MSP for these crops.

The increase in 2025-26 kharif crops MSP is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times the All-India weighted average cost of production.

The expected margin to farmers over their cost of production is estimated to be highest in the case of bajra (63 per cent), followed by maize (59 per cent), tur (59 per cent) and urad (53 per cent). For the rest of the crops, margin to farmers over their cost of production is estimated to be at 50 per cent, the minister added.

The highest absolute increase in MSP over the previous year has been recommended for nigerseed, followed by ragi, cotton, and sesamum.

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