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The Indian economy is on the mend but high crude oil prices are a source of concern according to the CEA

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The Indian economy is now prepared for recovery, according to Chief Economic Advisor (CEA) V Anantha Nageswaran, but the high crude oil price is a matter of concern.

He remarked at a Bharat Chamber of Commerce webinar that the country’s banking industry is solid, capital is plentiful, and credit demand is on the rise.

“We are not alone in experiencing uncertain growth and high inflation as a result of the pandemic. The same issue affects developed countries as well “he stated

Our budget for 2022-23 is based on crude oil prices of roughly $75 per barrel. The price of Texas crude has risen to USD 96 a barrel due to the tension between Russia and Ukraine. “How long this high. price will persist will determine its influence on the Indian economy,” said Nageswaran.

Inflation and the loss of purchasing power, he claims, is a global issue. This is related to increases in shipping costs, container expenses, and oil prices.

Inflation rates in India are now hovering at 5.2 percent. “However, I believe it should remain within the RBI’s target range of four to six percent in the coming fiscal,” he said.

According to the CEA, the Indian market has begun to correct. “In several industries, activity levels have surpassed pre-pandemic levels. The services sector, on the other hand, has yet to recover “.

He stated that the private sector investment environment has yet to perk up because of the ongoing pandemic cloud. When consumption levels rise, they will pick up.

“However, the budget’s capital spending projection for 2022-23 is higher. This was done to fill in the blanks. In reality, state capital expenditures have increased as well “Nageswaran expressed his thoughts.

In response to the budget’s lower allocation for MNREGA, he stated that it is a demand-driven program. “It was done in the hopes that the economy would improve and need for MNREGA money would decrease. However, if there is a demand for the program, monies will be made available “.

The CEA claims that the budget has buffers. “I expect the recovery to begin in the second part of the next fiscal year. The nominal GDP growth rate has been set at 11%. With four percent inflation, real GDP growth will be seven percent.” According to him, India’s GDP should be split 20:30:50 between agriculture, manufacturing, and services for the country to reach a five-trillion-dollar economy.

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Poor Road Conditions Raise Concerns for Konkan-Bound Ganeshotsav Travellers

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Potholes and traffic congestion on the Uran route could make the festival journey difficult for thousands of devotees.

The Roads

With Ganeshotsav approaching, thousands of devotees from Mumbai and Navi Mumbai are preparing to travel to their hometowns in Konkan. However, poor road conditions along the Uran route have raised concerns about their journey.

Several stretches, including parts of the Mumbai–Goa National Highway and the Khopate Bridge, are reportedly affected by potholes. The Gavanphata–Chirner–Kharpada route is also in need of repairs, raising fears of slower traffic and longer travel times during the busy festival period. Traffic congestion has already been reported on the Chirner–Gavanphata–Dighode stretch. With a significant increase in vehicles expected during Ganeshotsav, residents fear that the existing problems could become even worse.

Roads maintained by CIDCO and the Public Works Department (PWD) have also come under scrutiny. The Khopate–Koproli road, in particular, has several potholes, while unauthorised parking in some areas is further adding to traffic difficulties. For many families travelling to Konkan for Ganeshotsav, the journey is an important part of the festival. Residents have therefore urged authorities to repair the damaged roads before the rush begins.

Meanwhile, Uran traffic police are preparing measures to manage the expected increase in traffic and minimise congestion during the festival.

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High Court Questions NMMC Over Illegal Constructions in Navi Mumbai

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Court seeks a clear plan to prevent new unauthorised structures as civic authorities step up action.

The Constructions

The Bombay High Court has sought answers from the Navi Mumbai Municipal Corporation (NMMC) over the growing issue of illegal constructions in the city. The court has asked the civic body what concrete steps it plans to take over the next three months to prevent new unauthorised structures from coming up.

According to claims made before the court, Navi Mumbai has around 4,000 illegal constructions. Since the court’s June 16, 2026 order, NMMC has taken action against 88 structures, including 43 in Airoli. Officials said another 25 structures had been acted against by September 7.

However, NMMC told the court that its demolition drive could face challenges in the coming months due to staff being engaged in Special Intensive Revision (SIR) work and preparations for upcoming festivals. During the hearing, petitioners also alleged that some illegal structures in Airoli were being spared because of political pressure. CIDCO, meanwhile, clarified that the areas in question fall under NMMC’s jurisdiction.

The court has scheduled the next hearing after three weeks. For residents concerned about unauthorised construction in their neighbourhoods, the proceedings could be significant, as the civic body is now expected to show how it intends to prevent fresh violations rather than simply act after structures are built.

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NMMC Recruitment Exam Scorecard to Be Released on September 11

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Candidates who appeared for the civic body’s recruitment exam can check their scores from September 11 after a long wait.

The Exam

Candidates waiting for the results of the Navi Mumbai Municipal Corporation (NMMC) recruitment exam finally have some good news. The civic body is set to release the exam scorecards on September 11, 2026, bringing an end to a long wait for thousands of applicants.

The recruitment drive was announced for 668 posts across 30 categories. A total of around 84,774 candidates applied, while 68,149 candidates appeared for the online examination held in July 2025. The release of the results had been delayed due to a legal dispute involving contractual employees working with NMMC. The employees had approached the Bombay High Court seeking protection for their jobs, following which the court had directed the civic body to hold back the examination scores.

The situation changed after the court allowed NMMC to proceed with the recruitment process while ensuring that the existing contractual employees would not lose their current service. Accordingly, NMMC will now publish the scorecards for all 30 categories on its official website on September 11.

There are currently around 477 contractual employees in the civic body. Their positions will be protected, while appointments to the remaining vacancies will proceed according to the recruitment process and the court’s final decision. For candidates who have been waiting for more than a year, the scorecard release will be an important step towards knowing their chances of securing a job with NMMC.

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