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Rupee rises 9 paise to 79.24 against US dollar in early trade

Rupee rises 9 paise to 79.24 against US dollar in early trade

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 [...]

Rupee hits intra-day record low of 78.78 against US dollar

Rupee hits intra-day record low of 78.78 against US dollar

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 [...]

ADB hints at providing USD 2.5 billion loan to cash-strapped Pakistan

ADB hints at providing USD 2.5 billion loan to cash-strapped Pakistan

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. [...]

Pakistan’s foreign exchange reserves plunge to lowest level since Dec 2019: Report

Pakistan’s foreign exchange reserves plunge to lowest level since Dec 2019: Report

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 [...]

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LPG price hiked by Rs 50; rates up by Rs 244 in one year

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 seeks suspension of 5% GST on high rental hospital rooms

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 [...]

Unemployment rate rises to 7.80% in June: CMIE

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 [...]

Govt directs steel industry to draw time bound action plan to lower CO2 emissions

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, [...]

Cryptocurrencies clear danger, says RBI Governor

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 [...]

Specialty steel: Govt extends deadline to apply for PLI scheme fourth time till Jul 31

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 10-12 % revenue growth this fiscal: Crisil

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 [...]

12 states demand extension of GST compensation beyond June

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 [...]

Credit card spend crosses Rs 1.13 lakh cr in May: RBI data

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 [...]

Government is considering to roll out PLI scheme for apparel sector

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 [...]

Power tariff hike in Kerala after 3 years

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 [...]

Centre procures 52,460 tonne onion till May for buffer stock

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 [...]

Edible oil prices ease; major brands cut MRP by Rs 10-15/litre: Govt

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 grows nearly five fold in May

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.