Latest Indian Economy News

The Union Cabinet is likely to soon consider imposing caps or a ceiling on price for majority of natural gas produced in the country to keep input costs for users ranging from CNG to fertilizer companies in check, sources said. The government bi-annually fixes prices of locally produced natural gas -- which is converted into [...]

India's highways infrastructure will match that of the US by 2024 for which work in time bound 'mission mode' is on including construction of green expressways and rail over bridges, Union Road Transport and Highways Minister Nitin Gadkari said. He said cabinet nod to 'Bharatmala 2' is likely soon and once obtained it will meet [...]

As many as 346 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.46 lakh crore, as per an official report. According to Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,418 [...]

Foreign investors have pumped Rs 7,200 crore into the Indian equities so far this month, mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners. Going ahead, FPIs are likely to be cautious in the near term since there is a risk-off sentiment in equity markets globally due to the [...]

The government has capped the maximum rate of GST compensation cess that would be levied on pan masala, cigarettes and other forms of tobacco and linked the highest rate to their retail sale price. The capping of the cess rate was brought in as part of the amendments to the Finance Bill, 2023, which was [...]

The government has hiked customs duty on import of X-ray machines and non-portable X-ray generators to 15 per cent with effect from April 1. Currently, portable X-ray machines and non-portable X-ray generators and apparatus attract 10 per cent import duty. The changes in the customs duty rate was brought in as part of the amendments [...]

Housing sales in India's top seven cities are estimated to rise 14 per cent during January-March to over 1.13 lakh units on strong demand despite increase in prices by 6-9 per cent, according to Anarock. Real estate consultant Anarock, which tracks the primary (fresh sales) residential market, said the "bull run" continued in the housing [...]

Nearly 67 per cent of private companies do not have an adequate risk management function, and over 52 per cent are still not equipped with formal risk management processes, said a report by risk advisory firm MGC Global. Over 50 per cent of the survey participants were affiliated with companies that reported revenues of over [...]

The government has extended export benefits under RoDTEP scheme to 18 items related to textiles sector, including saari and lungi, with a view to boost shipments of these goods. Benefits under the duty refund scheme -- Remission of Duties and Taxes on Exported Products (RoDTEP) -- will be given to exports made from March 23, [...]

With retail inflation remaining above the comfort level of 6 per cent and most global peers including US Fed continuing hawkish stance, the Reserve Bank of India too may go in for a 25 basis points hike in the bi-monthly monetary policy to be announced on April 6, opined experts. The Monetary Policy Committee (MPC) [...]

Only 15 per cent of the 267 insolvency cases admitted in company law tribunals during October-December 2022 reached resolution with overall recovery of just 27 per cent of claimed amount, the IBBI data showed. As much as 45 per cent cases were concluded through liquidation, according to a Kotak Securities analysis of the latest data [...]

A high-level Indian delegation called on Sri Lankan President Ranil Wickremesinghe here on Sunday and briefed him on the developments in the jointly-identified priority areas for bilateral collaboration in the crucial energy sector. President Wickremesinghe provided his insights on the early implementation of these initiatives when the delegation led by Pankaj Jain, Secretary, Ministry of [...]

Bharti Enterprise-backed OneWeb on Sunday completed its constellation of 618 low earth orbit satellites that would allow it to offer broadband internet services from space in every corner of the world. Indian Space Research Organisation's Launch Vehicle Mark-3 (LVM3) placed 36 OneWeb satellites in a low earth orbit following a successful launch from the Satish [...]

Preparations are in full swing in West Bengal's Darjeeling district for the 2nd Tourism Working Group Meeting of G20, which will begin on April 1, officials said on Sunday. At the first meeting held in Gujarat's Kachchh in February, five priorities were identified for the sector -- green tourism, digitalisation, skills, tourism MSMEs and destination [...]

Equity benchmark indices climbed in early trade on Monday, mainly on account of buying in index majors Reliance Industries and HDFC Bank as well as positive sentiments in the US market. The 30-share BSE Sensex climbed 137.55 points to 57,664.65 points in early trade. The broader NSE Nifty advanced 46.05 points to 16,991.10 points. Among [...]

Reserve Bank of India's central board on Friday reviewed the global and domestic economic situation as well as the associated challenges. The 601st meeting of the Central Board of Directors of Reserve Bank of India (RBI) was held at Hyderabad under the chairmanship of Governor Shaktikanta Das. "The board in its meeting reviewed the global [...]

India's forex kitty rose by USD 12.798 billion to USD 572.801 billion in the week ended March 17, the Reserve Bank said on Friday. In the previous reporting week, the reserves had dropped by USD 2.39 billion to a three-month low of USD 560.003 billion. It can be noted that in October 2021, the country's [...]

Around 5,642 warehousing projects have been completed under the Warehouse Infrastructure Fund (WIF) scheme so far, Parliament was informed on Friday. Under the Warehouse Infrastructure Fund (WIF) scheme, under the Ministry of Finance, about Rs 9,393.68 crore funds have been sanctioned till December 2022 for establishment of 7,953 warehouse projects spread across 21 states, Agriculture [...]

The Enforcement Directorate Friday said it has attached a multi-storeyed commercial complex, worth more than Rs 252 crore, located in Delhi's Shalimar Bagh area in connection with a money laundering investigation linked to an alleged bank fraud case against the Ambience Group. The immovable property is named Ambience Tower and it belongs to a company [...]

Cash-strapped Pakistan has received a rollover of USD 2 billion in deposits for a period of one year from its all-weather ally China to help Islamabad get a much-required bailout from the IMF to stabilise its economy, a media report said on Friday. The rollover, which basically is not a loan but a financial deposit [...]