Inflationary pressures are likely to continue and force the RBI to further hike interest rates during the course of the current fiscal but the tighter financial conditions can impact growth, finance industry veteran Deepak Parekh said on Wednesday. Parekh, who is the chairman of HDFC Asset Management Company, said there are reasons to be optimistic [...]
Credit card spending has crossed Rs 1.13 lakh crore in May compared to Rs 1.05 lakh crore in the previous month according to official data. The month-on-month rise in spending through cards indicates a pick-up in economic activity. The latest data from the Reserve Bank of India (RBI) showed that 7.68 crore credit card holders [...]
Commerce and Industry Minister Piyush Goyal on Saturday said the government is considering to roll out the production-linked incentive (PLI) scheme for the apparel sector to boost domestic manufacturing and exports. He said that discussions on the same are underway between the textiles ministry, the department for promotion of industry and internal trade (DPIIT) and [...]
The Kerala State Electricity Regulatory Commission on Saturday announced 6.6 per cent hike in power tariffs in the state. Revising the power tariff after three years, the Commission, however, said there would be no increase in tariff for the weaker sections, agricultural consumers, small scale industries and small farmers. State Electricity Minister K Krishnankutty said [...]
The officers committee on GST has suggested the GST Council to defer a decision on taxability of cryptocurrency and other virtual digital assets. The Fitment Committee in its report to the GST Council has suggested that a law on regulation of cryptocurrency is awaited and it would be essential to identify all relevant supplies associated [...]
The Centre can meet the fiscal deficit target of 6.4 per cent for 2022-23 if there are no excise duty cuts to lower high oil prices and additional spending on subsidies, a German brokerage said on Thursday. Meeting the budgeted target will be possible if there is no further cut on excise duties, Deutsche Bank's [...]
The World Bank has approved a USD 245 million loan to support India's efforts to modernise rail freight and logistics infrastructure, the international financial institution said in a statement on Wednesday. The Rail Logistics project will help India shift more traffic from road to rail, making transport -- both freight and passenger -- more efficient [...]
Edible oil prices in the retail market have started easing with softening of international rates and the government's timely intervention, Food Secretary Sudhanshu Pandey said on Wednesday. As per government data, the average retail prices of packaged edible oils have ease slightly, except for groundnut oil, across the country since the beginning of this month [...]
Domestic air passenger traffic saw a strong recovery in demand as Indian carriers flew 1.20 crore passengers on the local routes in May, logging nearly five-fold year-on-year volume growth, DGCA data showed on Wednesday. Domestic air passenger traffic in May 2021 stood at a meager 21-lakh, as per the Directorate General of Civil Aviation (DGCA) [...]
The airlines' losses globally are expected to be down from USD 52 billion in 2021 to USD 9.7 billion this year and industry-wide profit should be on the horizon in 2023, Director General of IATA Willie Walsh said here on Monday. International Air Transport Association (IATA) represents some 290 airlines comprising 83 per cent of [...]
