Latest Indian Economy News

In the run up to the global investors' summit in Lucknow, district authorities on Tuesday inked 64 memorandum of understandings (MOU) for investment worth Rs 1,743.57 crore. District Magistrate Mahendra Bahadur Singh after attending the Kheri investors and exporters' meet  said, "64 MOUs executed on Tuesday intended to set up projects worth Rs 1,743.57 crore [...]

Benchmark indices Sensex and Nifty declined in early trade on Wednesday due to selling in financials, oil and IT stocks amid weak global trends. The 30-share BSE Sensex fell by 268 points or 0.44 per cent to 60,709.93 as 24 of its constituents declined. The index opened lower at 60,834.73 and dropped further to a [...]

The Punjab government is mulling to sell surplus coal generated from its captive mine in Jharkhand to private power producers, chief minister Bhagwant Mann said here on Tuesday. Mann said such a move will help reduce the cost of electricity for people in Punjab, and added that his government is in touch with the Union [...]

Amid outrage over a plan to give powers to its arm PIB to police fake news on social media, Union Minister Rajeev Chandrasekhar on Tuesday said that the government will next month hold discussions with stakeholders before the proposal is implemented. The minister said that the rules for regulating online gaming are expected to be [...]

After remaining stable for many weeks, the cost of borrowing for states inched up by 5 basis points to 7.64 per cent at Tuesday's auction when 15 of them raised Rs 25,700 crore from the market. The amount of debt raised today is a 13-week high and for the first time shows an annualised growth [...]

The finance ministry on Tuesday held a meeting with private sector lenders to review progress made by them under the flagship financial inclusion and social security schemes. "Dr. Vivek Joshi, Secretary DFS chaired a meeting today with the representatives of Private Sector Banks, Small Finance Banks and Payment Banks to review the progress made by [...]

Total toll collection through FASTag on fee plazas, including state highway toll plazas, increased 46 per cent to Rs 50,855 crore in 2022, state-owned NHAI said on Tuesday. Total toll collection through FASTag on fee plazas, including state highway toll plazas, in 2021 was Rs 34,778 crore. The average daily toll collection through FASTag on [...]

CropLife India, an industry body of 16 agro-chemcial companies, has demanded that the government should provide tax sops in the upcoming budget on expenditures incurred for research and development (R&D). CropLife India would like to urge the government to "retain a uniform basic customs duty of 10 per cent for both technical raw materials and [...]

The government should scrap the windfall profit tax on domestically produced crude oil as the levy is adversely impacting the capex-intensive exploration of oil and gas, the industry said in its recommendation for the forthcoming annual budget. India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super [...]

The Rajasthan government on Monday signed agreements for investment worth Rs 1.36 lakh crore in the state. The investment was committed under Invest Rajasthan, which was held in October last year. Agreements of 26 projects related to industires, energy, tourism and other sectors were signed at the chief minister's residence. Nearly 17,000 people will get [...]

Prime Minister Narendra Modi has always prioritised the energy sector of the North East, Petroleum and Natural Gas Minister Hardeep Singh Puri said here on Monday. The prime minister's priority is to put the region in the high growth trajectory and as such he is putting great emphasis on the energy sector, Puri said while [...]

Benchmark equity indices Sensex and Nifty advanced nearly half a per cent in early trade on Tuesday following gains in IT and financial stocks amid positive global cues. The 30-share BSE Sensex rose by 273.27 points or 0.45 per cent to 61,214.94 as 21 of its constituents traded in the green. The barometer opened stronger [...]

Gujarat aims to become the world centre for green hydrogen by creating an estimated 8 MTPA production capacity in another 10-12 years, state Industries Minister Balwantsinh Rajput has said. Addressing a plenary session on "Gujarat's G20 Connect" as part of the Business 20 India Inception Meeting on Monday, Rajput said as a driving force, Gujarat [...]

The country's services exports are doing “extremely well” and going by the current trend these outbound shipments would register about 20 per cent growth in this fiscal and cross the USD 300 billion target despite global economic uncertainties, Commerce and Industry Minister Piyush Goyal has said. He said that on the merchandise front also, exports [...]

Investment in the Indian capital markets through participatory notes slightly dropped to Rs 96,292 crore at the end of December 2022 from the preceding month on higher valuation of domestic markets. Before the decline, the investment through the route had been on an increasing trend since July because of a slump in prices of oil [...]

Benchmark BSE Sensex rose by 319 points on Monday on gains in IT and financial stocks after positive quarterly results amid supportive global cues. The 30-share BSE barometer rose by 319.90 or 0.53 per cent to close at 60,941.67. The index opened higher and gained more than 400 points to scale the 61,000 level. It touched [...]

The PM GatiShakti initiative will play a significant role in reducing the logistics cost, increasing efficiency and benefitting businesses, a top government official said on Monday. On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti- National Master Plan aimed at developing an integrated infrastructure to reduce logistic costs. All logistics and [...]

iPhone-maker Apple is looking to scale up its manufacturing in India as the business environment is helping global firms make the country their base, Commerce and Industry Minister Piyush Goyal said on Monday. He said that India offers a rule of law, and transparent government policies and business models which help it become a preferred [...]

Thousands of Indian IT professionals in the US, who have lost their jobs due to the series of recent layoffs at companies like Google, Microsoft and Amazon, are now struggling to find new employment within the stipulated period under their work visas following the termination of their employment to stay in the country. According to [...]

Sales of residential properties in Gurugram jumped over two-fold to 32,617 units last year on higher demand across all price categories — affordable, mid-income and luxury, according to Anarock. Housing sales stood at 15,590 units in Gurugram during 2021 calendar year. Overall, the housing sales in Delhi-NCR rose 59 per cent to 63,712 units in [...]