The FMCG industry saw decline in volume in the January-March period as consumption was impacted by price increases, especially in the food and essentials categories, said a report by data analytics firm NielsenIQ. Rural India witnessed 5.3 per cent dip in volume in the period. This is the highest consumption slowdown in the last three [...]
The World Bank is planning to disburse USD 700 million to crisis-ridden Sri Lanka by re-purposing its existing loans, a move that will help the island nation grappling with an unprecedented economic crisis much-needed breathing space till a bailout package with the IMF is worked out, media reports said on Monday. Sri Lanka is nearing [...]
Engine and power equipment maker Cummins India on Thursday reported a marginal growth in its standalone profit after tax at Rs 189.15 crore in the quarter ended March, 2022. The company had posted a standalone PAT (Profit After Tax) at Rs 185.69 crore in the year-ago quarter, Cummins India Limited said. Sales from operations stood [...]
The Reserve Bank will opt for a larger, 0.50 per cent, hike in key rates at its next monetary policy review in June to protect medium term economic stability in face of the uncomfortable inflation situation, a British brokerage said on Thursday. The central bank will likely revise its inflation estimate to 6.2-6.5 per cent, [...]
Sri Lanka's Prime Minister Ranil Wickremesinghe was appointed Finance Minister of the debt-ridden country on Wednesday by President Gotabaya Rajapaksa, an official statement said. Wickremesinghe, 73 was sworn in as the Minister of Finance, Economic Stability and National Policies. The five-time prime minister was re-appointed to the job on May 12 following the political circus [...]
The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation’s economy sets up an adequate macroeconomic policy framework, the global lender has said. The statement by the World Bank came on Tuesday following reports that the Washington-based institution was planning to support Sri Lanka to [...]
A group of ministers (GoM) in the Madhya Pradesh government deliberating on excise matters has given the consent to reduce the import duty on beer and wine in the state, MP Home Minister Narottam Mishra said. The decision was taken in a meeting of the ministerial group headed by Mishra on Tuesday. "Various issues related [...]
The government on Tuesday imposed restrictions on sugar exports from June 1, a move aimed at increasing availability of the commodity in the domestic market and curbing price rise. "Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards," the Directorate General of Foreign Trade (DGFT) said [...]
India's crude oil production fell 1 per cent in April after lower output from fields operated by the private sector wiped away gains by state-owned firms such as ONGC, official data showed Tuesday. India produced 2.47 million tonnes of crude oil in April, down from 2.5 million tonnes in the same month last year, according [...]
The Rajasthan government has approved the Rajasthan Electric Vehicle Policy (REVP) to encourage EVs in the state. The government has approved an additional budget provision of Rs 40 crore for the State Goods and Services Tax (SGST) reimbursement on the purchase of such vehicles. Rajasthan Chief Minister Ashok Gehlot has approved this policy, and its [...]
