From the Reserve Bank of India (RBI) holding the policy rate steady at 5.25% amid the war in West Asia, to the government raising fertilizer subsidy for the upcoming kharif season, net demat account additions slowing down in FY26, and India’s ports logging strong growth in cargo traffic—here’s a round-up of this week’s news in numbers.
Wait and watch
The RBI’s monetary policy committee kept the repo rate unchanged at 5.25%, reflecting the wait-and-watch approach adopted by global peers such as the US Federal Reserve, Bank of England, and European Central Bank amid the war in West Asia.
The RBI pegged FY27 GDP growth at 6.9% under the new GDP (gross domestic product) series, down from FY26 growth estimate of 7.6%. The central bank flagged risks from Strait of Hormuz disruptions and high energy prices. It trimmed growth estimates for the first two quarters of FY27 compared with its February outlook—Q1 to 6.8% from 6.9% and Q2 to 6.7% from 7.0%. In February, the RBI had released data for only the first two quarters of FY27 pending the updates in the GDP series.
Fertilizer shield
The Union cabinet on Wednesday approved ₹41,534 crore in nutrient-based subsidies (NBS) for phosphatic and potassic fertilizers for the 2026 kharif season. The amount is ₹4,317 crore higher than the kharif subsidy for 2025 and comes as escalating conflict in West Asia has pushed up prices of key fertilizer inputs.
Key fertilizers covered under the NBS scheme include Diammonium Phosphate (DAP), Muriate of Potash (MOP), and various Nitrogen, Phosphate, Potash, and Sulphur (NPKS) grades. India is the largest importer of DAP and a major buyer of other fertilizers.
The higher outlay risks pushing up India’s fertilizer subsidy bill. For FY27, the government has budgeted ₹54,000 crore for NBS of the total fertilizer subsidy allocation of ₹1.7 trillion. Past trends show the actual spending has often exceeded the budgeted amount.
Numbers talk
41: The number of consecutive days Iran’s nationwide internet blackout has lasted as of Thursday, amounting to 960 hours, according to NetBlocks. It is the longest countrywide shutdown on record.
$730 million: The amount raised by Agratas Energy Storage Solutions, the battery arm of Tata Group, from banks in 2025, Mint reported. The company has pledged all its movable assets to secure part of the borrowing.
$1 billion: The value of the contract Wipro has secured from food-processing firm Olam Group, its first mega deal in nearly six years. As part of the deal, Wipro will acquire Mindsprint, Olam’s IT arm, for $375 million.
200: The number of roles Meta plans to eliminate at its Silicon Valley office, as CEO Mark Zuckerberg accelerates the company’s AI push and streamlines its workforce. The reductions will take effect in late May.
Tepid show
After two years of strong expansion, the pace of new demat account additions slowed in FY26, signalling a shift in retail investor behaviour amid volatile markets and weaker returns, Mint reported.
Net additions fell to 32.1 million from a record 41.1 million in FY25, a 22% year-on-year fall, according to data from the Centre for Monitoring Indian Economy (CMIE). The slowdown has coincided with weak market performance, as benchmark indices posted their poorest showing in six years amid US tariffs and the conflict in West Asia. Total demat accounts stood at 224.5 million as of FY26.
Net demat account additions had surged in the post-pandemic period, jumping 142% on year in FY22. The pace eased in FY23 before picking up again in FY24 and FY25.
Monsoon risks
India is likely to see below-normal monsoon in 2026 due to the emergence of El Niño conditions, private weather forecaster Skymet said on Tuesday, pegging the cumulative rainfall at 94% (±5%) of the Long Period Average (LPA) for the June-September season.
El Niño is a climatic pattern characterized by elevated sea-surface temperatures in the central and eastern Pacific Ocean, often linked to a higher risk of low rainfall and drought in South Asia.
The forecaster said that there is a 30% probability of ‘drought’ and a 40% chance of rains being ‘below normal’ this year. This is the highest since 2023, a year that saw a El Nino event.
State-run India Meteorological Department will issue its first forecast for the 2026 monsoon season later this month. A deficient monsoon could weigh on agricultural output, rural demand and food prices, posing risks to inflation and overall economic growth.
Maritime growth
Major Indian ports clocked 915 million tonnes (mt) of cargo traffic in FY26, surpassing the annual target of 904 mt, and registering a 7.1% year-on-year growth, according to government data.
The ports, shipping and waterways ministry said the growth was driven by improved operational efficiency, modernization of port infrastructure and increased handling of key trading commodities such as coal, crude oil and fertilizers.
Gujarat’s Deendayal Port handled the most cargo at 160 mt, up 6.6% on year, followed by Odisha’s Paradip Port (156.5 mt, up 4%), and Jawaharlal Nehru Port in Navi Mumbai (102 mt, up 10.7%). Goa’s Mormugao Port handled the least cargo at 21 mt, but posted the fastest growth at 15.9%.