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Recovering from its record low level, the rupee appreciated 9 paise to 79.24 against the US dollar in early trade on Wednesday. At the interbank foreign exchange, the rupee opened at 79.29 against the American dollar. In initial trade, the local currency witnessed a high of 79.24 and a low of 79.31 against the US [...]
The rupee fell 41 paise to hit its intra-day record low of 78.78 against the US dollar on Tuesday, weighed down by persistent foreign capital outflows. At the interbank foreign exchange, the rupee opened at 78.53 against the American dollar, then fell further and touched its intra-day record low of 78.78, registering a fall of [...]
The Asian Development Bank (ADB) has indicated that it will provide USD 2.5 billion in additional loans to Pakistan, including USD 1.5 billion before the end of this year, to help the cash-starved country which is in dire need of foreign assistance due to its depleting forex reserves and growing repayments and import financing requirements. [...]
Cash-strapped Pakistan's foreign exchange reserves have dropped to their lowest level since December 2019, owing to an increase in current account and trade deficits, higher external debt payments and dried dollar inflows, according to a media report on Friday. As per data from Pakistan's central bank, inflows clocked in at USD 16.4 billion in the [...]
Top Latest News on Indian Economy
Cooking gas LPG price on Wednesday was hiked by Rs 50 per cylinder, the third increase in rates since May on firming international energy prices. Non-subsidised LPG now costs Rs 1,053 per 14.2-kg cylinder in the national capital, up from Rs 1,003 previously, according to a price notification of state-owned fuel retailers. Common households pay [...]
Healthcare industry body NATHEALTH on Tuesday asked the government to put into abeyance the recently announced 5 per cent GST on hospital rooms with rental value of above Rs 5,000 per day, terming it an additional burden on the sector. Last week, the GST Council decided that hospital room rents (excluding ICU) exceeding Rs 5,000 [...]
The country's unemployment rate has shot up at 7.80 per cent in June with the loss of 13 million jobs, mainly in the agriculture sector, according to the data released by economic think-tank Centre for Monitoring Indian Economy (CMIE). The massive fall in number of jobs last month was triggered by higher unemployment rate in [...]
The government intends to continue with the top GST slab of 28 per cent for luxury and sin goods, but is open to discuss narrowing down the three slabs of 5, 12 and 18 per cent into two, Revenue Secretary Tarun Bajaj said on Monday. Addressing the industry leaders, Bajaj said the rate rationalisation exercise [...]
In line with the government's COP26 commitments, the Ministry of Steel has asked the stakeholders to develop a time-bound action plan to lower emissions in the steel industry. According to a ministry document, the iron and steel industry globally accounts for around 8 per cent of total carbon dioxide (CO2) emissions on an annual basis, [...]
Stock markets would be driven by domestic macroeconomic data, global trends, crude oil movement and FII activity this week and may remain volatile ahead of the start of the quarterly earnings season, analysts said. Tepid global cues and nervousness ahead of the earnings season have impacted sentiment, they said. "There is selling exhaustion at lower [...]
Reserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as "clear danger" and said that anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name. The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. Reserve [...]
The government has extended for the fourth time the deadline to submit applications under the production-linked incentive scheme for specialty steel till July 31, 2022. Initially, March 29 was the last date for manufacturers to apply for the benefits under the PLI (Production-Linked Incentive) scheme for speciality steel. It was later extended till April 30, [...]
Fleet operators may see a 10-12 per cent revenue growth this fiscal as they are expected to continue adding to their fleets steered by higher demand from road-freight sectors and higher repayment due to elevated borrowing cost among others, credit ratings agency Crisil said on Wednesday. Broad-based recovery in the economy after ebbing of the [...]
About a dozen states on Wednesday pitched for extending by a few years the compensation paid to states for revenue lost from the implementation of the goods and services tax (GST) regime. The GST Council, the highest decision-making body of the indirect tax regime, however, did not take any decision at its meeting here. A [...]
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 Centre has procured 52,460 tonne of onion till May-end this year for maintaining a buffer stock, a senior Consumer Affairs Ministry official said on Friday. The government for the last few years has been maintaining a buffer stock of onion to tackle price rise during the lean season. Onion is being procured through an [...]
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) [...]
Frequently Asked Questions
1. What is GDP in an Economy?
Gross domestic product (GDP) is the standard measure of the value-added created through the production of goods and services in a country during a certain period. As such, it also measures the income earned from that production or the total amount spent on final goods and services (less imports).
2. What type of news will you get on the Economy section?
Economy news section on Trade Brains News will provide you with the news on the Indian economy and the factors that affect it. It will also provide you with news on retail inflation, foreign exports and imports and more. Stay updated with news on the Indian economy on Trade Brains News.
3. What is inflation in an economy?
Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.
What is Retail Inflation?
Retail Inflation, refers to the rate of inflation based on the Consumer Price Index (CPI), The CPI is an index that tracks the daily consumption of households and the change in the price of the goods and services these households spend on.