Latest Indian Economy News

MP Natural Resources Pvt Ltd bagged a coal mine in Madhya Pradesh on the fourth day of commercial coal mines auction on Thursday. Two coal mines were put up for e-auction. The auction of the other mine in Madhya Pradesh was underway. In a statement, the coal ministry said both the mines are fully explored [...]

Market benchmarks climbed in early trade on Friday, bouncing back from the previous day's fall, following a positive trend in global equities and fresh foreign fund inflows. The BSE Sensex climbed 503.56 points to 59,412.91 after starting the trade on a positive note. The NSE Nifty advanced 157.15 points to 17,479.05. From the Sensex pack, [...]

The domestic steel industry has sought a roadmap to ensure 161 million tonnes of coking coal is available for scaling up the country's annual steel making capacity to 300 million tonnes by 2030. Coking coal and iron ore are the two key raw materials used for manufacturing steel through the blast furnace route. While iron [...]

Union minister Nitin Gadkari on Thursday invited Austrian companies to set up plants for manufacturing ropeways and cable car components and equipment in India. Gadkari, minister for road transport and highways, met Austrian delegation led by Ambassador of Republic of Austria to India Katharina Wieser. Gadkari informed the delegation that several ropeways and cable car [...]

Market benchmarks ended nearly 1 per cent lower on Thursday amid weak trend in global equities and continuous foreign fund outflows. The BSE Sensex tumbled 501.73 points or 0.84 per cent to settle at 58,909.35. During the day, it tanked 544.82 points or 0.91 per cent to 58,866.26. The NSE Nifty declined 129 points or [...]

Commerce and industry minister Piyush Goyal on Thursday said that PM GatiShakti national master plan and logistics policy together will help improve competitiveness of businesses and attract investments into India. He said that layers of data are there at PM GatiShakti portal where different geological, ecological and infrastructural elements across the country were mapped and [...]

The government on Wednesday said that it has decided to discontinue imports of crude sunflower seed oil under tariff rate quota (TRQ) from April 1 this year. TRQ is a quota for a volume of imports that enter India at specified or nil duty, but after the quota is reached, the normal tariff applies to [...]

Sebi on Thursday barred 31 entities, including actor Arshad Warsi, his wife Maria Goretti and promoters of Sadhna Broadcast from the securities market in a case related to uploading misleading videos on YouTube channels recommending investors to buy the company's shares. The company's promoters who have been restrained from the securities market for their involvement [...]

Market benchmarks declined in early trade on Thursday amid a largely weak trend in global equities and continuous foreign fund outflows. The BSE Sensex declined 145.4 points to 59,265.68. The NSE Nifty dipped 47.95 points to 17,402.95. From the Sensex pack, Tata Consultancy Services, Infosys, Maruti, Axis Bank, Mahindra & Mahindra, Tech Mahindra, Tata Motors, [...]

Capital markets regulator Sebi has barred two individuals from securities markets for one year and levied penalties totalling Rs 25 lakh on them for indulging in insider trading in the shares of Aptech Ltd. In addition, Sebi directed two individuals -- Lashit Lallubhai Sanghvi and his wife Neha Sanghvi -- to disgorge notional profits totalling [...]

Stock market benchmarks ended nearly 1 per cent higher on Wednesday, halting their eight days of decline, amid gains in Asian and European equity exchanges. The BSE Sensex advanced 448.96 points or 0.76 per cent to settle at 59,411.08 after a positive beginning. During the day, it jumped 513.33 points or 0.87 per cent to [...]

GST collections rose 12 per cent to over Rs 1.49 lakh crore in February, the finance ministry said on Wednesday. February 2023 witnessed the highest cess collection of Rs 11,931 crore since implementation of GST. The collections are, however, lower than the second highest Goods and Services Tax (GST) mop-up recorded in January at over [...]

Moody's Investors Service on Wednesday said the banking sector outlook remains stable and is supported by economic growth and improved financials. "While we expect the country's real GDP growth to moderate in the fiscal year ending March 2024 (fiscal 2024), India's underlying growth potential is fundamentally strong, which will support banks' credit growth and asset [...]

US President Joe Biden has announced his intent to appoint two prominent Indian-Americans corporate leaders, Punit Renjen and Rajesh Subramaniam, to his powerful Export Council which is the principal national advisory committee on international trade. The president on Tuesday announced a list of members he intends to appoint to the the council, according to a [...]

India's power consumption logged a year-on-year growth of over nine per cent to 117.84 billion units in February this year, according to government data. The robust growth of power consumption indicates sustained momentum of economic activities in February. Experts had earlier said that power consumption and demand would register a substantial increase in March due [...]

The Madhya Pradesh government on Wednesday presented a Rs 3.14 lakh crore state budget for 2023-24, even as the Opposition Congress staged a walkout from the Assembly on the issue of hike in the LPG cylinder price. Congress members including former ministers Tarun Bhanot, Vijay Laxmi Sadho and Jitu Patwari created ruckus in the House [...]

The Jammu and Kashmir administration has cleared decks for USD 100 million support by International Fund for Agricultural Development (IFAD) through implementation of “competitiveness improvement of Agriculture and Allied Sectors Project (JKCIP)”, an official spokesman said. Lt Governor Manoj Sinha gave a green signal to propose the JKCIP project to the Department of Economic Affairs [...]

Moody's Investors Service on Wednesday raised India's economic growth estimate for 2023 to 5.5 per cent from 4.8 per cent pegged earlier, on the back of a sharp increase in capital expenditure in the Budget and a resilient economic momentum. It however revised downwards India's growth estimate for 2022 to 6.8 per cent from 7 [...]

The record heat in February can lead to more rate hikes from RBI, a domestic rating agency said on Tuesday. The high temperatures will impact the wheat production, the rating agency said, adding that the surge in wheat prices contributed to over a tenth of the retail inflation in December and January, which is way [...]

Stock markets advanced in early trade on Wednesday amid gains in Asian equity exchanges and buying in IT counters. The BSE Sensex advanced 278.77 points to 59,240.89 after a positive beginning. The NSE Nifty climbed 83.4 points to 17,387.35. From the Sensex pack, Mahindra & Mahindra, Tata Steel, HCL Technologies, Axis Bank, Tata Consultancy Services, [...]