Latest Indian Economy News

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 [...]

Drug firm Venus Remedies on Monday said it has received good manufacturing practices (GMF) certification from the Saudi drug regulator for its production facilities at Baddi, Himachal Pradesh. The Saudi Food and Drug Authority (SFDA) granted the certification which includes first-time approval for pre-filled enoxaparin syringes and general injection facilities, the company said in a [...]

Benchmark indices began the trade on a weak note on Monday in tandem with bearish trend in global markets amid concerns over more rate hikes by developed economies. Fresh foreign fund outflows and weak trend in IT counters also dented investor sentiments. The BSE Sensex declined 354.81 points to 59,109.12. The NSE Nifty slipped 107.4 [...]

Sector regulator Trai on Friday issued directions to telecom service providers to submit service quality reports for each state and Union Territory too. Trai said submission of state and Union Territory wise report for QoS (quality of service) parameters is essential for optimum analysis of service quality being provided by telcos. "This will also help [...]

The global economic outlook has improved in recent months, but uncertainties still remain, RBI Governor Shaktikanta Das said on Friday as he called upon G20 nations to resolutely address the challenges, including debt distress and threats to financial stability, confronting world economies. Addressing the inaugural session of the meeting of G20 finance ministers and central [...]

The BJP-ruled Gujarat government on Friday presented a Rs 3.01 lakh crore budget which imposed no new taxes. Finance Minister Kanubhai Desai presented the budget for 2023-24 in the Assembly here on the second day of the Budget Session. This was the first budget of the new Bharatiya Janata Party (BJP) government headed by Chief [...]

Over 7,000 trucks laden with goods, including perishable items like fruits, vegetables, juices, poultry, and eggs, have been stranded at the Pakistan-Afghanistan Torkham border for the last five days due to the closure of the crossing point by the Pakistan government, a trade body said on Friday. Director Pak-Afghan Joint Chamber of Commerce and Industry [...]

Prime Minister Narendra Modi on Friday flagged the threat of unsustainable debt facing some developing nations as he called upon the Group of 20 (G20) nations to focus on the world's most vulnerable citizens. Trust in international financial institutions has eroded partly because they have been slow to reform themselves, he said in a video [...]

NSE Indices Ltd, an NSE arm, on Friday said it has launched the country's first ever municipal bond index. The new Nifty India Municipal Bond Index will track the performance of municipal bonds issued by Indian municipal corporations across maturities and having investment grade credit rating, NSE Indices said in a statement. The index was [...]

Prime Minister Narendra Modi on Friday said the Union Budget 2023-24, like in the previous 8-9 years, focuses on the agriculture sector, and steps are being taken to reduce India's import dependence on oilseeds and edible oils. Addressing a post-budget webinar with stakeholders of agriculture and cooperative sectors, the Prime Minister said India's agriculture budget [...]

Benchmark indices started on a positive note on Friday in-line with optimism in the US market and buying in Reliance Industries. The BSE Sensex climbed 297.25 points to 59,903.05 points after a positive start. The NSE Nifty advanced 88.5 points to 17,599.75 points. In the Sensex pack, Bajaj Finserv, Kotak Mahindra Bank, State Bank of [...]

The National Highways Logistics Management Limited (NHLML) and Jodhpur Discom have signed an agreement to set up 11 solar power plants at six places in a section of the Amritsar-Bhatinda-Jamnagar Expressway passing through Rajasthan. A Memorandum of Understanding (MoU) has been signed between both the parties during a meeting held under the chairmanship of Chief [...]

Former RBI governor D Subbarao on Thursday said there was not 'sufficient emphasis' on jobs in the Budget for 2023-24 and it failed to grapple with the unemployment problem head on, except to believe that growth itself will generate jobs. Subbarao noted that the unemployment problem was quite bad even before the Covid and it [...]

Finance Minister Nirmala Sitharaman on Thursday held a bilateral meeting with US Treasury Secretary Janet Yellen and discussed issues relating to crypto assets, strengthening multilateral development banks and global debt vulnerabilities. The deliberations were held on the sidelines of the first meeting of the G20 finance ministers and central bank governors here under the G20 [...]

Leading bourse NSE on Thursday said it has received final approval from markets regulator Sebi to set up a Social Stock Exchange (SSE) as a separate segment on its platform. The final clearance was received on February 22, the National Stock Exchange (NSE) said in a statement. The Social Stock Exchange segment will provide new avenue [...]

The labour intensive apparel sector will contribute significantly in taking the country's merchandise exports to USD one trillion by 2030, AEPC said on Thursday. The Apparel Export Promotion Council (AEPC) said that the incentives in the Budget will help the apparel industry focus on market and product diversification. The council chairman Naren Goenka said that [...]

Haryana Chief Minister Manohar Lal Khattar on Thursday said no fresh tax will be imposed, as he presented the state budget for the financial year 2023-24. Khattar, who also holds the finance portfolio, proposed Rs 1,83,950 crore state budget for the year 2023-24, an increase of 11.6 per cent over the revised estimates of Rs [...]

Finance Minister Nirmala Sitharaman on Wednesday embarked on a visit to Bengaluru to attend the first meeting of the G20 Finance Ministers and Central Bank Governors under the G20 India Presidency. The two-day meeting beginning February 24 will focus on priorities under global economy, international taxation, financial sector, international financial architecture, sustainable finance, infrastructure, health [...]

Prime Minister Narendra Modi on Thursday said the government is fully committed to sustainable development in the field of green energy. Modi was responding to a tweet by Union Minister for Heavy Industries, Mahendra Nath Pandey which said that electric vehicles under the FAME ll scheme have saved 22.9 crore litres of fuel as well [...]

Benchmark indices declined in early trade on Thursday, falling for the fifth straight session, amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows and a mixed trend in the US market also hit investor sentiments. In initial trade, the BSE Sensex declined 92.7 points to [...]