From India doubling down on fertilizer imports from non-West Asia sources to the US Federal Reserve decision to pause rates, the leadership crisis at HDFC Bank and youth unemployment in India rising to a four-month high in February—here’s a compilation of this week’s news in numbers.
Cascading impact
After LPG, fertilizers are emerging as the next major pressure point for India as it navigates the fallout of the West Asia conflict.
The government is looking to diversify sourcing by stepping up purchases from countries such as Indonesia, Belarus, Morocco and China, Mint. India imports nearly 30% of its fertilizer consumption, with five of its top 10 suppliers located in West Asia, accounting for about 30% of imports.
The Strait of Hormuz remains a critical transit route for fertilizers and their inputs. According to The Fertilizer Institute, 45% of global sulphur, 34% of urea, and 23% of DAP trade is linked to countries involved in the conflict, heightening risks for India.
Moreover the natural gas squeeze— a critical feedstock— risks impacting domestic fertilizer output.
Extended pause
Jerome Powell-led US Federal Reserve held interest rates steady on Wednesday, within the 3.5% and 3.75% range, adopting a cautious ‘wait-and-watch’ stance amid the ongoing war in West Asia. The Fed had cut rates three consecutive times last year before pausing from January this year.
The decision comes against the backdrop of still-elevated inflation and early signs of a slowing labour market. The Fed has raised its 2026 inflation forecast to 2.7% from 2.4%, partly reflecting higher oil prices, even as job growth shows signs of softening—complicating its dual mandate of price stability and maximum employment.
All eyes will now be on the Reserve Bank of India as the Monetary Policy Committee (MPC) meets in April.
Numbers talk
₹33,600 crore: The value of the Bharat Audyogik Vikas Yojna (Bhavya) scheme cleared by the Union Cabinet on Thursday to develop , in a fresh effort to bolster India’s manufacturing prospects.
75.01%: The stake acquired by housing finance firm Weaver Services in Centrum Housing Finance Ltd, the mortgage lending arm of Centrum Capital. The company had raised ₹1,450 crore to fund the acquisition.
2.13%: The in February— an 11-month high— driven largely by higher prices of basic metals, manufactured food and non-food products, and textiles, according to data released by the commerce ministry.
₹5,786 crore: The draft assessment order sent by income tax authority to Maruti Suzuki India for FY23, relating to adjustments made to its returned income. The company plans to challenge the order.
₹48,014 crore: The amount infused by Reserve Bank of India on Tuesday into the banking system through a seven-day variable rate repo auction with the rate fixed at 5.26%, lower than the ₹1.50 lakh crore initially notified.
Crisis at the top
The sudden resignation of HDFC Bank chairman Atanu Chakraborty on 18 March has triggered concerns over governance and leadership stability at India’s largest private lender.
HDFC Bank on Wednesday said Chakraborty resigned with immediate effect, with his letter from 17 March to the board citing “certain happenings and practices within the bank” over the last two years that were not aligned with his personal values and ethics.
Keki Mistry has been appointed interim chairman for a three-month period. The Reserve Bank of India on Thursday said that it found no material concerns regarding the lender’s governance or conduct, and it remains well-capitalized and stable. However, the episode led to the bank’s shares falling around 5% on Thursday.
Widening gap
India’s youth unemployment rate climbed to a four-month high of 14.8% in February, even as the overall jobless rate (for those aged 15 and above) eased marginally, according to the latest Periodic Labour Force Survey data released by the statistics ministry on Monday. This underscores a widening gap in the labour market and limited opportunities for young job seekers.
The overall unemployment rate fell slightly to 4.9% from 5% in January. In rural areas, youth unemployment climbed to 13.1% in February, also a four-month high, while in urban areas it eased to 18.3% from 18.6% in January. Gender-wise, female unemployment declined marginally to 17.6%, while male unemployment inched up to 13.7% from 13.6% in the previous month.
Representation watch
The 98th Academy Awards season drew to a close, with ‘One Battle After Another’ dominating the night with six wins, including Best Picture. An analysis of the award’s nominees across 20 categories shows representation has also seen an improvement in the past decade.
Women made up 30.8% of Oscar nominees in 2026, up from 20.6% in 2016, according to data by The Inclusion List created by the USC Annenberg.
12% of the women nominees were women of colour. There are categories where women’s presence has increased notably. These include categories like ‘documentary feature’, ‘production design’ and ‘animated films’ where women made up over 50% of the nominees, the data showed. The Oscars had put in place new diversity and inclusion standards for the Best Picture nominees starting 2024.