Latest Indian Economy News

India's economic growth slowed down to 4.4 per cent in the third quarter of 2022-23 mainly due to poor performance of the manufacturing sector. In October-December 2021, the economy grew by 11.2 per cent and by 6.3 per cent in the July-September 2022 quarter, according to data released by the National Statistical Office (NSO) on [...]

Microsoft co-founder Bill Gates on Tuesday met Reserve Bank of India Governor Shaktikanta Das and discussed various issues including financial inclusion, payment systems, microfinance and digital lending among others. "Mr.@BillGates visited RBI Mumbai today and held wide ranging discussions with Governor @DasShaktikanta #RBI #rbitoday #rbigovernor #shaktikantadas #BillGates," RBI said in a tweet. Gates Foundation pursues [...]

Production of eight infrastructure sectors expanded at a four-month high of 7.8 per cent in January 2023 on better show by coal, fertiliser, steel and electricity segments, according to official data released on Tuesday. The output of core sectors had increased by 4 per cent in January 2022 and by 7 per cent in December [...]

Benchmark indices Sensex and Nifty continued their slide for the eighth straight day on Tuesday due to selling in oil & gas, pharma and banking stocks amid worries over further interest rate hikes. Mixed global cues, selling by FIIs and caution by investors ahead of the release of key macroeconomic data also dented the market [...]

The Nitish Kumar government in Bihar on Tuesday presented a Rs 2.61 lakh crore budget, asserting that the state’s finances were “in a good shape” as evident from markers like the fiscal deficit being under the prescribed conditional limit. Tabling the budget before the state assembly, Finance Minister Vijay Kumar Chaudhary also flagged concerns like [...]

The government is working towards making India a global automobile manufacturing hub and the domestic industry is expected to be worth Rs 15 lakh crore in the near term, Union Minister Nitin Gadkari said on Tuesday. Virtually inaugurating Tata Motor's vehicle scrapping facility in Jaipur, Gadkari said the automobile sector currently contributes to 7.1 per [...]

Akash Ambani, head of India's biggest telecom company, on Tuesday said high-speed fifth-generation cellular network or 5G will transform healthcare services, education, agriculture and disaster management, making cities smarter and societies safer. 5G ambulances will not just allow remote consultation, but would also be able to transit data and video to hospitals in real time, [...]

Danish minister for energy, climate and utilities Lars Aagaard on Tuesday said Denmark can learn from India's ability to bring down renewables tariff especially solar and both nations can embark on the green hydrogen future together. India has considerably brought down tariff of renewable energy especially solar through e-reverse auction of projects. India's solar and [...]

As banks' chase for customers to collect cheap deposits is not fructifying, they are forced to offer inflation-beating real interest rates on fixed deposits now, and state-run banks led by Punjab & Sind Bank tops the chart offering 8-8.50 per cent per annum deposit rate. Banks are forced to offer inflation-beating deposit rates for a [...]

Technology will help India achieve the target of becoming a developed nation by 2047, Prime Minister Narendra Modi said on Tuesday, as he outlined the massive and modern digital infrastructure being created to ensure that benefits of digital revolution reach all citizens. Addressing a post-Budget webinar on 'Unleashing the Potential: Ease of Living Using Technology', [...]

Ministry of Statistics and Programme Implementation will release the second advance estimate of the Gross Domestic Product for 2022-23 along with December quarter data on Tuesday evening. The ministry will also release the revised estimate of economic growth for 2021-22 which was estimated at 8.7 per cent in May last year. As per the first [...]

Equity benchmark indices climbed in early trade on Tuesday helped by buying in IT counters and an overall positive trend in global markets. After a firm start, the BSE Sensex further climbed 144.85 points to 59,433.20. The NSE Nifty advanced 35.55 points to 17,428.25. From the Sensex pack, Mahindra & Mahindra, Tech Mahindra, Tata Consultancy [...]

Prime Minister Narendra Modi will address a post-budget webinar on the theme ‘Unleashing the Potential: Ease of living using technology’ on Tuesday. According to an official statement, the webinar will discuss the Budget announcements related to DigiLocker entity, national data governance, address update facility, fintech services, Centre of Excellence on AI (Artificial Intelligence) and Mission [...]

Industry body CII and Jindal Stainless Ltd (JSL) on Monday announced a partnership to create awareness on corrosion and scale up its management activities to cut down losses estimated to be worth lakhs of crores of rupees in the country. CII and JSL signed a memorandum of understanding which focuses on inviting suggestions on improvements [...]

Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic [...]

Benchmark indices Sensex and Nifty slid for a seventh straight session on Monday, logging their longest losing run in the past five months, following a bearish trend in global markets amid concerns over aggressive rate hikes by developed economies. Fresh foreign fund outflows and losses in IT, auto and oil stocks also dented investor sentiments. [...]

Retail investors' interest in the Indian mutual fund industry has seen an uptick with the value of assets held by them witnessing a rise of 9.3 per cent to Rs 23.4 lakh crore in January this year. In comparison, the value of assets held by retail investors in mutual funds stood at Rs 21.40 lakh [...]

The queues of cars from Laos waiting to fill their tanks at petrol stations across the border in Thailand have sparked fears the landlocked Asian country’s debt is spiralling out of control and could go the way of Sri Lanka. Laos has been struggling with heavy debt mainly due to mega infrastructure projects, such as [...]

The Uttar Pradesh government is likely to miss the budgeted revenue surplus of 2.8 per cent by a wide margin, even though it may meet the fiscal deficit target of 3.5 per cent next fiscal, says a report by India Ratings. Noting that the UP budget presented earlier this week made many over-the-top assumptions regarding [...]

The country's fertiliser imports rose by 3.9 per cent to 19.04 lakh tonnes in January this year compared to the year-ago period, according to the Fertiliser Ministry data. The country imported 18.33 lakh tonnes of fertilisers during January 2022. According to the latest data, of the total imports of 19.04 lakh tonne, 10.65 lakh tonnes [...]