Latest Indian Economy News

Procurement of goods and services from government portal GeM has crossed Rs 2 lakh crore this fiscal on account of an increase in buying activities by different ministries and departments. The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and [...]

The Foreign Trade Policy (FTP) 2023 has outlined a slew of measures like extending all FTP benefits to e-commerce exports, and doubling the value limit for exports through courier to Rs 10 lakh per consignment, with estimates pegging the potential of growth in e-commerce exports to USD 200-300 billion by 2030. To spur e-commerce exports, [...]

The government has extended the date of mandatory fitness testing through a registered Automated Testing Station (ATS) for heavy goods and passenger motor vehicles by 18 months to October 1, 2024. Earlier, the Road Transport and Highways Ministry (MoRTH) had said that fitness testing for heavy goods vehicles and heavy passenger motor vehicles through an [...]

Over 1 crore mobile numbers were seeded in Aadhaar following requests from residents in the month of February, an official statement said on Friday. The linking of mobile numbers with Aadhaar jumped 93 per cent in February from 56.7 lakh registration in January, according to the Unique Identification Authority of India (UIDAI). "Over 10.97 million [...]

The mango crop in the country has been damaged up to 20 per cent because of untimely rains, hailstorm and strong wind, according to senior ICAR officials. Many mango growers said the damage has been huge in North India due to hailstorm and thunderstorm. Mango is an important fruit crop in India and popularly called [...]

Benchmark indices Sensex and Nifty ended the last day of 2022-23 fiscal with nearly 2 per cent jump on Friday in line with firm trends in the global markets and heavy buying in index major Reliance Industries. Fresh foreign fund inflows also added to the positive momentum in the equity market. The 30-share BSE Sensex [...]

Capital markets regulator Sebi on Friday extended the compliance requirement to three years for 'large corporates' to raise at least 25 per cent of their incremental borrowings through debt securities to a contiguous block from two years at present. This comes after the board of Sebi approved a proposal in this regard on Wednesday. Currently, [...]

Property registration in Mumbai municipal area is set to fall by at least 26 per cent year-on-year in March to 12,421 units on higher base and rise in mortgage rates, according to Knight Frank India. The registration data is up to 10.30 am on Friday and the numbers would increase by end of the day. [...]

A revamped credit guarantee scheme for India's micro and small enterprises will come into effect from Saturday, with the annual guarantee fee for loans up to Rs 1 crore getting reduced from the peak 2 per cent to 0.37 per cent, reducing the overall cost of credit for small businesses. The limit on ceiling for [...]

Global macroeconomic and financial sector headwinds are set to take a deep toll on the domestic IT companies' revenue growth in FY24, a report said on Friday. The Rs 10 lakh crore sector is likely to witness revenue growth plunging by up to 9 percentage points to 10-12 per cent in FY24 as against the [...]

Cash-strapped Sri Lanka is exploring the options for domestic debt restructuring in the post-IMF bailout scenario to further stabilise its shaken economy, an official statement said on Friday. Sri Lanka received USD 330 million this month as the first tranche of the International Monetary Fund (IMF) bailout programme, which will pave the way for the [...]

Commerce Secretary Sunil Barthwal on Friday said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage. Speaking after the unveiling of Foreign Trade Policy (FTP) 2023 which seeks to increase India's exports to USD 2 trillion by 2030, the secretary also said the government is [...]

The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to USD 2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and [...]

Indian-American business leader Ajay Banga is poised to become the next President of the World Bank which on Thursday said he is the sole nominee for the post as no other candidates were nominated. The World Bank's Board of Executive Directors will interview Banga before he is formally appointed. In February, President Joe Biden announced [...]

The Assam government disbursed Rs 63.05 crore as a financial incentive to 370 tea gardens in the state to help them mitigate the adverse impact of the pandemic. Chief Minister Himanta Biswa Sarma said the tea industry was the backbone of the state's economy, making up nearly 90 per cent of its gross export value, [...]

Benchmark indices Sensex and Nifty rallied more than 1 per cent in early trade on Friday in line with firm trends in the global markets and heavy buying in index major Reliance Industries. Fresh foreign fund inflows also added to the positive momentum in the equity market. The 30-share BSE Sensex jumped 705.26 points to [...]

Out of the ten listed Adani Group stocks, seven ended in the positive territory on Wednesday, with Adani Enterprises rallying nearly 9 per cent. Shares of Adani Enterprises jumped 8.75 per cent, the most among the group stocks on the BSE. Adani Ports rallied 7.25 per cent, Adani Wilmar went up by 5 per cent, [...]

The Reserve Bank may go for a final 25 basis points increase in the current rate hike cycle next week and a reduction would come in only by the end of third quarter of FY24, economists at Axis Bank said on Wednesday. As per media reports, RBI officials met economists on Tuesday, and the latter [...]

Benchmark Sensex settled higher by 346 points while Nifty inched closer to the 17,100 level in a volatile trade on Wednesday driven by foreign fund inflows and firm trends in global markets. Buying in services, realty, commodities and auto stocks on the monthly expiry day also aided the momentum. The 30-share BSE Sensex advanced 346.37 [...]

Asserting that India has adequate coal reserves, Union Coal Minister Pralhad Joshi on Wednesday said the country will start exporting the dry fuel by 2025-26. From a net importer of coal, India is moving towards becoming a net exporter of non-coking coal, Joshi said on the sidelines of the seventh round of auctions for commercial [...]