Latest Indian Economy News

New Delhi, Apr 10 (PTI) The World Economic Forum's 2022 annual meeting in Swiss ski resort town Davos next month is expected to be attended by over 300 public figures, including heads of state and government from across the globe, while nearly 100 business and political leaders from India are also likely to be present [...]

Kolkata, Apr 10 (PTI) The Centre has further reduced raw jute stock limit for balers and traders in a bid to increase supply of the raw material to mills at a time when major foodgrain producing states are facing a shortage for the environment-friendly packaging material, industry stakeholders said on Sunday.In a recent notification issued [...]

Kathmandu, Apr 10 (PTI) In a rare move, the Nepal government has suspended the country’s Central Bank Governor Maha Prasad Adhikari over disagreements with Finance Minister Janardhan Sharma and for not doing enough to pull the economy from doldrums. Adhikari, the Nepal Rastra Bank (NRB) Governor, was suspended on Friday after the government formed a [...]

Kathmandu, Apr 10 (PTI) Nepal’s central bank has announced a ban on the import of vehicles and other luxury items, citing liquidity crunch and declining foreign exchange reserves, despite government assurances that the economy will not go into a tailspin like Sri Lanka. Nepal Rastra Bank (NRB), the country’s central bank, issued this directive last [...]

Sydney, Apr 10 (The Conversation) The latest report from the Intergovernmental Panel on Climate Change (IPCC) — which one of us (Arunima) contributed to — has emphasised the need for enormous change if we are to keep within the 1.5 degree Celsius warming limit.This Paris Agreement goal is currently beyond our reach. Achieving it would [...]

New Delhi, Apr 10 (PTI) Stressing that reforms are necessary for the agriculture sector, Niti Aayog member Ramesh Chand on Sunday said the repeal of three farm laws has come as a 'setback' to higher price realisation by cultivators and could be a factor in achieving the goal of doubling farmers' income by 2022. He [...]

Shillong, Apr 10 (PTI) Over 350 mobile towers will be set up in Meghalaya to ensure that all villages come under mobile network, officials said on Sunday. Meghalaya has 6,839 villages of which 1,164 villages are not covered by any mobile network, they said. The chief secretary recently reviewed implementation of the Universal Service Obligation [...]

New Delhi, Apr 10 (PTI) India is among one of the "priority markets" for the direct selling Swedish beauty brand Oriflame, where it expects to continue its double-digit growth over the next 3-5 years, a top company official has said. The company which sells cosmetic and wellness products in India also expects a double-digit growth [...]

Aurangabad, Apr 10 (PTI) Maharashtra has recorded an all-time high sugar production of 132 lakh tonnes this year, state sugar commissioner Shekhar Gaikwad has claimed. But, despite the high production, there is less possibility of the sugar prices coming down, the official told PTI on Saturday while speaking about issues related to excess sugarcane production [...]

New Delhi, Apr 10 (PTI) The government is working on an FAQ on taxation of cryptocurrencies, which will give a nuanced clarification on the applicability of income tax and GST on virtual digital assets, an official said. The set of Frequently Asked Questions (FAQ), which is being drafted by the Department of Economic Affairs (DEA), [...]

Colombo, Apr 10 (PTI) A massive anti-government street protest demanding Sri Lankan President Gotabaya Rajapaksa’s resignation has turned into an all-night vigil as over 10,000 demonstrators gathered at the Galle Face Green urban park amidst the unprecedented economic crisis in the island nation. Sri Lanka is facing its worst economic crisis since gaining independence from [...]

New Delhi, Apr 9 (PTI) The government has spent around Rs 100 lakh crore on infrastructure development and social sector programmes over the last eight years, government sources said. Citing an RBI report, sources said that the total developmental expenditure by the central government was a whopping Rs 90,89,233 crore (Rs 90.9 lakh crore) during [...]

Kathmandu, Apr 9 (PTI) Tourist footfalls are gradually increasing in Nepal as the coronavirus-related restrictions are eased with fewer daily cases and a low transmission rate in the last few months. The tourism sector, the backbone of the Nepalese economy, came to a griding halt in April 2020 due to the COVID-19 pandemic, officials said [...]

New Delhi, Apr 9 (PTI) India’s agricultural exports rose by about 20 per cent to USD 50.21 billion during 2021-22 despite logistical challenges posed by the COVID-19 pandemic, the Commerce and Industry Ministry said on Saturday. Exports of rice were the top forex earner at USD 9.65 billion among agri commodities during 2021-22, growing by [...]

Mumbai, Apr 9 (PTI) The Cotton Association of India (CAI) on Saturday reduced the cotton crop estimate by 8 lakh bales to 335.13 lakh bales for the 2021-22 season as the production in Gujarat, Telangana, Maharashtra and Karnataka is expected to decline. The total production during crop year 2020-21, stood at 353 lakh bales, the [...]

Mumbai, Apr 9 (PTI) With a number of companies across the world proposing 4-day workweek for employees, a report has revealed that a majority of employers in India strongly agree that this model will help in reducing stress level. Over 60 per cent of the employers strongly agree that the new 4-day workweek model will [...]

Dhubri (Assam), Apr 9 (PTI) Assam has started export of jackfruit and green chilli to Dubai from here, officials said on Saturday. The consignment was flagged off by Dhubri Deputy Commissioner Anbamuthan MP on Friday evening from Bilasipara town for the Lokapriyo Gopinath Bordoloi Airport from where it will leave for Mumbai for its onward [...]

Washington, Apr 8 (PTI) India’s dependence on Russia for major defence equipment and supplies along with some other essential items like fertiliser is immense, a top American diplomat has told lawmakers ahead of the next week’s 2+2 ministerial meeting.US Deputy Secretary of State Windy Sherman, during her testimony before the House Foreign Affairs Committee, showed [...]