Latest Indian Economy News

South African President Cyril Ramaphosa has announced a "State of Disaster" due to the country's "debilitating" electricity crisis, just 10 months after the Covid-induced "State of Disaster" was lifted. Ramaphosa during his annual State of the Nation address on Thursday said an electricity minister would be appointed to deal with the matter more effectively and [...]

Milk prices in the country have risen due to increase in the feed and fodder cost, Union Minister Sanjeev Kumar Balyan said in Rajya Sabha on Friday. Balyan, who is Minister of State of Fisheries, Animal Husbandry and Dairying, said dairy companies pass on 75 per cent of the retail price to farmers. There is [...]

Benchmark equity indices Sensex and Nifty declined in early trade on Friday, tracking negative cues from Asian and global markets. The stocks of Adani Group companies will also be in focus as index provider MSCI Inc has reduced the weightage of four firms in its index after a review. In early deals, the 30-share BSE [...]

The Central Depository Services Ltd (CDSL) on Thursday said the number of active demat accounts on its platform has crossed the 80 million (8 crore) mark. This makes CDSL, Asia's first and the only listed depository, also the country's largest depository in terms of active demat accounts. CDSL Managing Director Nehal Voral said that crossing [...]

Rising for the second straight session, equity benchmark Sensex climbed 142 points on Thursday following buying in IT and finance stocks amid a positive trend in global markets. After a see-saw session, the 30-share BSE Sensex ended 142.43 points or 0.23 per cent higher at 60,806.22. During the day, the index witnessed a high of [...]

Union Finance Minister Nirmala Sitharaman presented the last full budget of the second term of the Narendra Modi government in Parliament on February 1. Here's what experts, industry insiders have reacted from this year's Budget. 1. Mr. Ajit Patil, Co-Founder/ Managing Director of DeepTek Comments on the Union Budget 2023: The Amrit Kaal Budget of [...]

Driven by buoyant SIP flows, equity mutual funds have attracted Rs 12,546 crore in January, making it the highest net infusion in four months, despite volatility in stock markets. This was way higher than Rs 7,303 crore inflow seen in December, Rs 2,258 crore in November and Rs 9,390 crore in October. Prior to that, [...]

Finance Minister Nirmala Sitharaman on Thursday held a discussion with IMF managing director Kristalina Georgieva and urged the multi-lateral funding agency to develop a globally coordinated approach to the regulation of crypto assets. The Finance Minister held a virtual conversation with the International Monetary Fund (IMF) MD to discuss the upcoming G20 Finance Ministers and [...]

Analysts are of the view that after delivering the seventh hawkish policy on Wednesday the central bank may pause after delivering a likely 25 basis points increase in the April review. For Abheek Barua, the chief economist at HDFC Bank, the 25 bps repo hike and keeping its withdrawal of accommodation stance unchanged are on [...]

Equity benchmark Sensex dropped nearly 115 points in early trade on Thursday tracking losses in index heavyweights Maruti, Tata Motors and Reliance industries amid mixed global cues. Besides, a weak rupee against major rivals and persistent foreign capital outflows impacted domestic equity market sentiments, traders said. In a volatile trade, the 30-share BSE index was [...]

As many as 86,713 startups have been recognised by the government as on December 31, 2022, Parliament was informed on Wednesday. These startups are eligible to avail fiscal incentives under the Startup India action plan of the government. "As a result of sustained government efforts, the number of recognized startups has increased from 445 in [...]

There is no proposal to increase the overseas investment limits for domestic mutual funds at the moment, Reserve Bank Governor Shaktikanta Das said on Wednesday. Speaking to reporters at the customary post-policy review press conference, Das acknowledged that there have been requests from mutual funds and other market players for relaxations of the limits. "We [...]

Five more banks will join the pilot on the central bank digital currency or e-rupee for retail customers and the project will be extended to nine additional cities, the Reserve Bank said on Wednesday. The Reserve Bank, which began piloting the central bank digital currency or e-rupee for retail customers in early December with eight [...]

The recently launched retail central bank digital currency (CBDC) pilot has 50,000 users and 5,000 merchants, the RBI said on Wednesday. "We want the process to happen, but we want the process to happen gradually and slowly. We are in no hurry to make something happen so quickly," Deputy Governor T Rabi Sankar said at [...]

The Reserve Bank on Wednesday projected retail inflation to ease to 5.3 per cent in next fiscal from 6.5 per cent this year on assumptions of lower imported inflation, even though core inflation remains sticky. The RBI's inflation outlook for current fiscal has improved from 6.8 per cent projected earlier, to 6.5 per cent, on [...]

Fintech firms LazyPay, IndiaBulls Home Loans and Kissht are among the list of blocked websites issued by the Ministry of Electronics and IT, according to sources. The government has blocked 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorised loan service. As per the list, the Ministry of [...]

The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points. Announcing the [...]

The RBI on Tuesday projected India's economic growth to slow down to 6.4 per cent in FY24 from 7 per cent in the current fiscal, citing risks from geo-political tension and tightening global financial condition. Announcing the bi-monthly monetary policy, Reserve Bank of India Governor Shaktikanta Das said the RBI's internal survey says manufacturing, services [...]

Lauding the private sector contribution in defence manufacturing, Chief of Defence Staff (CDS) General Anil Chauhan on Tuesday said India has the potential to emerge as a superpower in making military equipment and has displayed wherewithal to develop big and complex platforms. Referring to the inauguration of Hindustan Aeronautics Ltd's new helicopter factory -- India's [...]

Electric passenger vehicles retail sales declined by 10.51 per cent sequentially to 3,346 units in January 2023 over 3,739 vehicles sold in December last year, according to automobiles body FADA. Tata Motors's electric PV sales were down 17 per cent at 2,426 vehicles in January as against 2,926 units delivered in December 2022. MG Motor [...]