Former UN advisor and economist Santosh Mehrotra says India’s tax approach is worsening inflation and jobs. He argues the government should target super-rich and high-net-worth individuals with surcharges instead of raising regressive indirect taxes on fuel and gold duties. With tensions in West Asia escalating, Mehrotra warns the rupee could slide to ₹100 per US dollar within a quarter. He also cautions crude oil could exceed $150, stressing MSMEs and triggering worker reverse migration.
India’s Wholesale Price Index accelerated to 8.3% in April 2026, the highest since October 2022, driven mainly by fuel and manufactured goods. Fuel and power inflation surged to 24.7%, led by a steep rise in mineral oils as global crude prices climb amid the US-Iran conflict and Gulf shipping disruptions. Core WPI hit 5%. While food inflation eased to 2.3% due to weak foodgrain and pulses, international food prices are moving up, raising risk of a later rebound.
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UAE insurers are moving war-risk coverage beyond specialized shipping and aviation into mainstream retail and SME products as geopolitical tensions involving Iran keep escalating. Sukoon Insurance has introduced a Motor War Cover add-on for comprehensive policies, offering up to AED 5 million for war, strikes, terrorism and riots within the UAE. Other firms are widening protection for cargo, residential units and travel disruption, while intermediaries market packages for operational losses, employee injuries and contract-related liabilities.
Bitcoin is trading near $66,510 as geopolitical tensions add pressure and a massive $14 billion options expiry heightens short-term volatility. Analysts say there’s no clear trend reversal yet, but bullish momentum could target $75,000 if the current pressure eases. Still, broader crypto market structure appears stable despite recent declines in major coins.
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