BJP releases white paper on ‘financial crisis’ in Tamil Nadu

by Hansraj Agrawal | Apr 4, 2026 | Business

BJP’s Tamil Nadu election in-charge Piyush Goyal and TN BJP President Nainar Nagendran at the release of white paper on TN Government in Financial Crisis published by TN BJP Professional Cell, in Chennai.

The Tamil Nadu BJP’s professional cell has released a whitepaper with details of what it calls a ‘financial crisis’ in Tamil Nadu under the incumbent DMK government, highlighting the State’s increasing revenue deficit and debt.

The report stated that Tamil Nadu’s revenue deficit of ₹69,129 crore as of FY26 stood at 1.94 per cent of Gross Domestic State Product (GSDP) and that the State’s outstanding debt reached ₹8.34 lakh crore by March 2024, projected to hit ₹10.71 lakh crore by March 2027.

It added that interest payments have surged from ₹36,215 crore in FY23 to ₹76,451 crore FY27. The government has also incurred hidden liabilities through PSUs such as TANGEDCO, which obscure the fiscal picture, the report said.

Titled ‘Tamil Nadu Government Financial Crisis,’ the whitepaper was released here on Saturday at a press conference by the party’s State in charge for the 2026 Tamil Nadu Assembly election and Union Minister of Commerce and Industry Piyush Goyal, who was joined by other senior BJP leaders from the State.

Speaking at the press conference, Goyal said that the DMK government and the CM’s family are using the State as an ATM machine instead of addressing the financial issues in the State.

“The Centre has given Tamil Nadu over ₹80,000 crore to the State in GST collections. They have to answer to the people where all this money has gone. This is one of the most irresponsible State governments in the country,” he said.

Published on April 4, 2026

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Five EU countries call for windfall tax on energy companies amid Iran war

by Hansraj Agrawal | Apr 4, 2026 | Business

EU says it is considering targeted crisis measures.
| Photo Credit:
YVES HERMAN

Five European Union countries ‌are calling for a windfall tax on energy companies’ profits in reaction to rising fuel prices due to the Iran war, according to a letter from ⁠finance ministers to the EU Commission seen by Reuters on Saturday.

The finance ministers of Germany, Italy, Spain, Portugal and Austria made the joint call for an EU-wide tax in a letter dated Friday. Such a ‌measure could help fund relief for consumers in the face of high energy prices and be a signal that “we stand united and are able to take action”, ‌they said.

“It would make it possible to finance temporary relief, especially for consumers, and curb ‌rising ⁠inflation, without placing additional burdens on public budgets,” the ministers wrote.

“It would also send ⁠a clear message that those who profit from the consequences of the war must do their part to ease the burden on the general public,” they said.

Oil and gas prices have spiked since the U.S.-Israeli strikes on Iran began on February 28, creating a price ‌shock similar to the energy crisis Europe went through after Russia invaded Ukraine in 2022 – even though EU countries are now getting more energy from renewable sources.

Letter highlights ‘market distortions’

In the letter, addressed to EU Climate Commissioner Wopke Hoekstra, the ministers pointed to a similar emergency ‌tax in 2022 to address high energy prices.

“Given the current market distortions and fiscal constraints, the European Commission should swiftly develop a similar EU-wide contribution instrument grounded on a solid legal basis,” they wrote.

A spokesperson for the EU Commission confirmed it ⁠had received the letter and that it was assessing it.

“More generally, the Commission is working closely with member states on possible targeted policy measures in response to the current energy crisis facing Europe,” ‌the spokesperson said.

The letter gave no details of what level of windfall tax the ministers were proposing, or on which companies it should fall.

The German Fuel and Energy Association, which represents refineries and petrol stations, said that the impression that companies were unjustifiably profiting was inaccurate and that there was no justification for a windfall tax.

“Our primary goal is to maintain the supply of fuels and motor fuels in Germany under increasingly difficult conditions,” it said in an emailed statement.

The ‌bloc’s energy chief said on Tuesday it was considering reviving energy crisis measures used in 2022, including proposals to curb grid tariffs and taxes on electricity.

The EU introduced a suite of emergency policies in 2022, after Russia cut gas deliveries. They included an EU-wide cap ⁠on gas prices, a tax on energy companies’ windfall profits, and targets to curb gas demand.

Europe’s heavy ⁠reliance on imported fuel leaves it exposed to the Middle East conflict’s impact on global energy prices. European gas prices have risen more than 70 per cent since the US-Israeli war ‌with Iran began on February 28.

EU Energy Commissioner Dan Jorgensen said Brussels was particularly concerned in the short term about Europe’s supply of refined petroleum products such as jet fuel and diesel.

Published on April 4, 2026

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Strait of Hormuz crisis: Trump sets 48-hour deadline for Iran

by Hansraj Agrawal | Apr 4, 2026 | Business

US President Donald Trump has issued a fresh 48-hour ultimatum to Iran, warning of severe consequences if it fails to strike a deal or reopen the strategically crucial Strait of Hormuz. (A file photo)
| Photo Credit:
Evan Vucci

US President Donald Trump on Saturday issued a stark ultimatum to Tehran, saying Iran has 48 hours to strike a deal or reopen the strategic Strait of Hormuz “before all hell will rain down on them”. Trump’s message, posted on his Truth Social platform, is a reminder of his 10-day ultimatum given to the Islamic Republic earlier to make progress toward a deal or reopen the vital shipping lane.

“Remember when I gave Iran ten days to MAKE A DEAL or OPEN UP THE HORMUZ STRAIT. Time is running out-48 hours before all Hell will rain down on them. Glory be to GOD! President DONALD J. TRUMP,” his post read.

Pause on strikes amid ongoing talks

Trump, on March 26, stated that he is extending the pause on strikes targeting Iran’s energy infrastructure for an additional 10 days, until Monday, April 6, 2026, as part of the ongoing diplomatic talks between the two sides.

In a post on Truth Social, the US President claimed that the announcement comes as per a “request” from the Iranian Government and further stated that the negotiations with Tehran were “going very well”.

“As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M., Eastern Time. Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well,” the post read.

Earlier warnings and escalating tensions

This was a continuation of Trump’s warning to Iran to open the Strait of Hormuz.

He earlier instructed the US Department of War to delay any military action against Iranian power plants and energy sites for five days, citing ongoing diplomatic engagements with Tehran amid escalating tensions in West Asia, prior to which he issued a warning to Tehran, giving it 48 hours to open the strategically significant Strait of Hormuz or face potential strikes on its energy facilities.

His latest 48-hour ultimatum is a reminder of his 10-day deadline given to Tehran last month.

Published on April 4, 2026

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8वें वेतन आयोग पर अपडेट! कर्मचारियों के लिए आई राहत की खबर, जानिए पूरी डिटेल

by Hansraj Agrawal | Apr 4, 2026 | Business

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8th Pay Commission Latest Update: केंद्रीय कर्मचारी और पेंशनर्स लंबे समय से आठवें वेतन आयोग का इंतजार कर रहे है. जिसको लेकर अब फिर से हलचल तेज हो गई है. आयोग ने अपनी प्रक्रिया को आगे बढ़ाते हुए विभिन्न संगठनों, यूनियनों और हितधारकों को चर्चा के लिए आमंत्रित किया है.

आयोग के पास अपनी रिपोर्ट देने के लिए अब ज्यादा वक्त नहीं बचा है. 3 नवंबर 2025 को आयोग का गठन किया गया था. तय समय के अनुसार आयोग के पास करीब 13 महीने का वक्त शेष है.

हालिया नोटिस के मुताबिक वेतन, भत्तों और पेंशन सुधार से जुड़े सुझावों पर काम अब अहम मोड़ पर पहुंच चुका है. जिससे कर्मचारियों के बीच उम्मीद की लहर दौड़ गई है. आइए जानते हैं, नए अपडेट के विषय में…

सुझाव भेजने की समय सीमा

आठवां वेतन आयोग ने साफ किया है कि जो भी संगठन या यूनियन आयोग की विजिटिंग टीम से बातचीत करना चाहते हैं. उन्हें 10 अप्रैल 2026 तक ईमेल के जरिए अपॉइंटमेंट लेना होगा. इसके साथ ही, वेतन और पेंशन से जुड़े अपने सुझाव और फीडबैक भेजने के लिए 30 अप्रैल 2026 की डेडलाइन तय की गई है.

इसी फीडबैक के आधार पर आगे की सिफारिशें तैयार की जाएंगी. जो आने वाले समय में लाखों कर्मचारियों और पेंशनर्स का भविष्य तय करने वाली है.

राज्यों के दौरे से जुटाए जाएंगे सुझाव

आयोग अब सीधे जमीनी स्तर पर फीडबैक लेने की तैयारी में है. आयोग ने अपने दौरों की शुरुआत करने का फैसला लिया है. 30 मार्च की घोषणा के मुताबिक टीम की पहली विजिट उत्तराखंड से होगी. इस दौरान टीम वहां के संगठनों और संस्थानों से बातचीत कर उनकी राय लेगी. ताकि रिपोर्ट को और बेहतर बनाया जा सके.

बैठकों से जुड़ी जगह और समय की जानकारी संबंधित लोगों को ईमेल के जरिए दी जाएगी. साथ ही, ज्यादा से ज्यादा सुझाव मिल सकें, इसके लिए तारीखों में पहले ही बदलाव किया जा चुका है. जिससे आयोग को ज्यादा इनपुट मिल सके.

एरियर के साथ मिल सकता है फायदा

7वें वेतन आयोग का कार्यकाल 31 दिसंबर 2025 को खत्म हो चुका है. ऐसे में उम्मीद की जा रही है कि 8th Pay Commission की सिफारिशें 1 जनवरी 2026 से लागू मानी जा सकती हैं. अगर ऐसा होता है, तो कर्मचारियों और पेंशनर्स को एरियर के रूप में भी अच्छा खासा लाभ मिलने की उम्मीद है.

यह भी पढ़ें: जिंदगी भर की भागदौड़ के बाद अब चाहिए सुकून, छोटे शहरों में बस रहे लोग; ये शहर बने पहली पसंद

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Crude Check: Strength Intact

by Hansraj Agrawal | Apr 4, 2026 | Business

Crude oil prices firmed up last week. Brent crude oil futures on the Intercontinental Exchange (ICE) ($109/barrel) and crude oil futures in the domestic market (₹10,408/barrel) were up 3.5 per cent and 10.8 per cent respectively. Below is an analysis.

Brent futures ($109)

Brent crude oil futures after opening with a gap-up last Monday, could not extend the rally and dropped. However, on Thursday, it rose 7.8 per cent, indicating the broader bullish bias is intact.

The rebound happened on the back of the 21-day moving average at $100. The longer lower wicks on the recent weekly candles denote good buying interest, particularly between $96 and $104.

Going ahead, there is a good chance for Brent crude futures to rise, possibly to $120. A breakout of this can lift the contract to $130. Only a decisive breach of the support at $96 will turn the outlook bearish. Support below $96 is at $90.

MCX-Crude oil (₹10,408)

Crude oil futures on the MCX performed better than the Brent crude futures by posting a bigger gain of 10.8 per cent. It marked a new all-time high of ₹10,640 on Thursday before moderating to ₹10,408.

The chart shows a strong bullish momentum and so, we might see further upside in the coming days. The contract can rally to ₹11,200 soon if it can retain the existing momentum.

Nevertheless, there is a good chance for the contract to see a moderation to ₹9,800-10,000 price band. The corrective decline might extend to ₹9,300 before the crude oil futures makes fresh highs.

Trade strategy: Go long at ₹10,000 and ₹9,400. Stop-loss can be ₹8,700. Book profits at ₹11,200. The contract can experience high volatility and so, risk-averse traders can stay out.

Published on April 4, 2026

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Bank credit, deposits grow across lenders; BoB crosses ₹30 lakh crore milestone

by Hansraj Agrawal | Apr 4, 2026 | Business

HDFC Bank, India’s largest private sector bank, reported a 14.4 per cent year-on-year (yoy) growth in deposits and a 12 per cent yoy growth in gross advances.

As at March-end 2026, the Bank’s deposits and gross advances stood at ₹31,05,500 crore and ₹29,60,000 crore, respectively, per provisional numbers shared by the Bank in its regulatory filing.

The Bank’s low-cost current account, savings account (CASA) deposits were a tad lower at 34.14 per cent of overall deposits as at March-end 2026 against 34.79 per cent as at March-end 2025.

Bank of Baroda

Bank of Baroda’s (BoB) global business (deposits plus advances) crossed the Rs 30 lakh crore milestone for the first time. Global business was up 13.93 per cent yoy in Q4FY26 and stood at ₹30,78,854 crore as at March-end 2026.

The public sector bank clocked a 12 per cent yoy growth in global deposits and a 16.23 per cent yoy growth in global advances in Q4FY26 ended March 31, 2026.

As at March-end 2026, BoB’s global deposits and global advances stood at ₹16,48,650 crore and ₹14,30,204 crore, respectively, per provisional numbers shared by the Bank in its regulatory filing.

Within global deposits and global advances, domestic deposits and domestic advances were up 12.83 per cent (to ₹14,01,497 crore as at March-end 2026) and 14.56 per cent (to ₹11,69,804 crore), respectively.

Domestic retail advances increased by 17.93 per cent yoy to stand at ₹3,02,657 crore as at March-end 2026.

PNB

Punjab National Bank’s (PNB) global business (deposits plus advances) rose 10.79 per cent yoy in the fourth quarter (Q4FY26) and stood at ₹29,72,896 crore as at March-end 2026.

The public sector bank clocked a 9.25 per cent yoy growth in global deposits and a 12.97 per cent yoy growth in global advances in Q4FY26 ended March 31, 2026.

As at March-end 2026, PNB’s global deposits and global advances stood at ₹17,11,476 crore and ₹12,61,420 crore, respectively, per provisional numbers shared by the Bank in its regulatory filing.

Within global deposits and global advances, domestic deposits and domestic advances were up 9.14 per cent (to ₹16,49,409 crore as at March-end 2026) and 12.17 per cent (to ₹11,95,811 crore), respectively.

UBoI

Union Bank of India’s global business (deposits plus advances) increased 5.79 per cent yoy in Q4FY26 and stood at ₹23,85,679 crore as at March-end 2026.

The public sector bank’s global deposits edged up 2.72 per cent, and global advances rose 9.76 per cent yoy in Q4FY26 ended March 31, 2026.

As at March-end 2026, UBoI’s global deposits and global advances stood at ₹13,06,900 crore and ₹R10,78,779 crore, respectively, per provisional numbers shared by the Bank in its regulatory filing.

Within global deposits and global advances, domestic deposits and domestic advances were up 2.72 per cent (to ₹13,06,297 crore as at March-end 2026) and 10.06 per cent (to ₹10,41,122 crore), respectively.

RAM (retail, agriculture and MSME) advances increased by 12.59 per cent yoy to stand at ₹5,98,620 crore as at March-end 2026.

Bandhan Bank

Bandhan Bank reported a 10 per cent yoy growth in total deposits and a 12.6 per cent yoy growth in loans & advances (on book + Pass-Through Certificates).

As of March-end 2026, the Bank’s total deposits and loans & advances stood at ₹1,66,344 crore and ₹1,54,235 crore, respectively, per provisional numbers shared by the Bank in its regulatory filing.

AU Small Finance Bank

AU SFB reported a robust 22.8 per cent yoy growth in total deposits and a 21.3 per cent yoy growth in gross loan portfolio (including securitised/ assigned portfolio).

As of March-end 2026, the Bank’s total deposits and gross loan portfolio stood at ₹1,24,269 crore and ₹1,15,704 crore, respectively, per provisional numbers shared by the Bank in its regulatory filing.

Published on April 4, 2026

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