Latest Indian Economy News

The "landmark" deal in which Air India will purchase 220 planes from Boeing for USD 34 billion will create up to 1 million jobs across 44 states in the US, President Joe Biden told Prime Minister Narendra Modi in a phone call on Tuesday. While announcing the Boeing-Air India deal on Tuesday, Biden asserted that [...]

The number of demat accounts rose to 11 crore in January, a surge of 31 per cent on a yearly basis, amid attractive returns from the equity markets, ease of account opening process and increased financial savings. Also, the incremental additions of such accounts were higher in January than in the preceding four months. However, [...]

Higher government spending on infrastructure in FY24 will propel engineering, procurement, and construction companies to hit revenue growth of 17-20 per cent, taking their profit to the pre-Covid level, a report said on Tuesday. In the Budget 2023-24, the government has increased the outlay for capital expenditure (capex) on infrastructure sector by 33 per cent [...]

The BSE benchmark Sensex surged 600 points on Tuesday, propelled by market heavyweight RIL, ITC, banking and IT shares amid positive global cues. Sliding crude oil prices in the international markets and buying by foreign investors also bolstered sentiment, traders said. The 30-share BSE Sensex ended 600.42 points or 0.99 per cent higher at 61,032.26. [...]

The wholesale price-based inflation eased for the eight consecutive month to 4.73 per cent in January on easing prices of manufactured items, fuel and power. The wholesale price-index (WPI) based inflation rate was 4.95 per cent in December 2022 and 13.68 per cent in January 2022. Inflation in food articles, however, rose to 2.38 per [...]

Equity market gained in early trade on Tuesday, with the benchmark Sensex surging 222 points as positive cues from Asian and global markets bolstered investor sentiments. BSE Sensex climbed 222.88 points or 0.37 per cent to 60,654.72 while the broader Nifty rose 56.40 points or 0.32 per cent to 17,827.30. Among the 30 Sensex shares, [...]

Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday. The inflation rate based on the Consumer Price Index (CPI) stood at 5.72 per cent December and 6.01 per cent [...]

Equity benchmark Sensex declined around 251 points on Monday, pressured by heavy selling in IT and bank stocks amid a mixed trend overseas. A weak rupee further weighed on sentiment, traders said. Sliding for the second straight session, the 30-share BSE Sensex ended 250.86 points or 0.41 per cent lower at 60,431.84. During the session, [...]

The government on Monday said illegal subsidies by trade partners and other countries hurt Indian trade and business, and that corrective actions are taken in the form of invoking dispute settlement mechanisms. The Department of Commerce on February 9, 2023 had stated that illegal subsidies by trade partners and other countries hurt Indian trade and [...]

Union food and consumer affairs minister Piyush Goyal has asked state-owned FCI to open more procurement centres covering all revenue districts in Uttar Pradesh for the benefit of farmers and also sell more wheat in open market to cool prices. The minister stated this while reviewing the operations of Food Corporation of India's (FCI) UP [...]

Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, [...]

Passenger vehicle wholesales rose 17 per cent in January to 2,98,093 units driven by robust offtake of utility vehicles, including the fast-growing sports utility vehicles, industry body SIAM said on Monday. The overall passenger vehicle dispatch from companies to dealers was 2,54,287 units in January 2022. Utility vehicle sales rose to 1,49,328 units last month [...]

Union Finance Minister Nirmala Sitharaman on Monday said GST compensation to some states is delayed due to non-availability of AG's authenticated certificate, and that Kerala has not sent even a single such certificate since 2017-18. Replying to a supplementary question, she also said that Rs 86,912 crore has been released for the Goods and Services Tax [...]

Trading activity in the domestic equity markets this week will be largely driven by inflation data, trend in global markets and foreign fund movement, analysts said. Participants will also monitor developments related to the Adani Group crisis, which has been a major overhang recently, they added. "...the movement of crude oil, the dollar index, and [...]

India's merchandise exports of commodities such as cotton, manmade yarn and textile dyes may be impacted in the short run to earthquake-hit Turkiye, according to exporters. Two powerful earthquakes hours apart on Monday last week caused widespread damage to property and killed more than 28,000 people, leaving millions homeless in Turkiye. The earthquakes also caused [...]

The average monthly rentals for two-bedroom flats of 1,000 square feet area have risen by up to 23 per cent since 2019 across seven major cities, according to Anarock. The key residential rental hotspots saw up to 23 per cent growth in average monthly rentals between 2019 and 2022, the property consultant said in a [...]

Equity market witnessed volatile trading in the morning session on Monday, with benchmark indices Sensex and Nifty shedding their marginal gains amid mixed cues from Asian markets. Starting off the week on shaky note, the 30-share BSE Sensex declined 196.61 points or 0.32 per cent to 60,486.09 points while the NSE Nifty fell 38.50 points [...]

Presenting the last budget of his government before the Assembly polls, Rajasthan Chief Minister Ashok Gehlot announced a Rs 19,000 crore inflation relief package that includes free food packets every month to poor families, LPG cylinders for Rs 500 to Ujjwala Scheme beneficiaries and free electricity up to 100 units per month to domestic consumers. [...]

The Pakistan government has received a memorandum on the terms and conditions from the IMF for the completion of a USD 7 billion loan programme, Finance Minister Ishaq Dar said on Friday but acknowledged that both sides are yet to clinch a staff-level agreement on the much-needed bailout for the cash-strapped country. Dar made the [...]

India has been ranked fifth among 184 countries in terms of its accreditation system, according to the recently released Global Quality Infrastructure Index (GQII) 2021. The GQII ranks 184 economies on the basis of their quality infrastructure (QI). India's overall QI system ranking continues to be tenth. According to the index, India was ranked 21st [...]