Latest Indian Economy News

Markets regulator Sebi has launched an information database on municipal bonds. As part of efforts to develop the bond markets, an outreach programme on municipal bonds and municipal finance was organised by Sebi in the national capital on January 20 and 21, according to a release on Sunday. Representatives from various stakeholders, including the Ministry [...]

Textile entrepreneurs have discussed key issues to bring in stability in the sector eyeing a reduction in cotton prices and freight charges, an industry official has said. Participating in an interactive session here, around 120 managing directors of spinning mills discussed various issues including cotton prices and freight rates, according to Indian Texpreneurs Federation, the [...]

Former Prime Minister H D Deve Gowda has written to Prime Minister Narendra Modi requesting him to instruct the Ministry of Steel and the Steel Authority of India Limited (SAIL) authorities to drop the proposal for closure of Visvesvaraya Iron and Steel Limited (VISL) at Bhadravati. The JD(S) supremo also has urged the Prime Minister [...]

Oil Minister Hardeep Singh Puri on Sunday hoped petrol prices will be reduced no sooner state-owned oil companies recoup past losses. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have for the past 15 months not revised petrol and diesel prices in line with the cost. The [...]

The Congress alleged on Sunday that debt, unemployment and inequality have risen in the country under the Narendra Modi government and the debt on every Indian has increased by 2.53 times in the last nine years. Congress spokesperson Gourav Vallabh said the astronomical increase in the government's debt due to "Modinomics" has crushed the common [...]

Pakistan spent USD 1.2 billion (Rs 259 billion) on the import of transportation items, including luxury cars, high-end electric vehicles, and their parts, during the last six months amidst sinking reserves and fear of default, according to a media report. The country is in the middle of a financial crunch with the foreign exchange reserves [...]

Equity benchmark BSE Sensex rose by 412 points to trade above the 61,000 level while NSE Nifty advanced 118 points in morning trade on Monday on the back of gains in IT, banking and FMCG shares after positive quarterly earnings. The 30-share BSE barometer spurted by 412.73 points or 0.68 per cent to 61,034.50 as 25 of [...]

Inflow in gold exchange traded funds (ETFs) plunged by 90 per cent to Rs 459 crore in 2022 due to rising prices of yellow metal, increasing interest rate structure coupled with inflationary pressures. This was way lower than an inflow of Rs 4,814 crore seen in the segment during 2021 and Rs 6,657 crore in [...]

Four of the 10 most valued firms together added Rs 82,480.67 crore in market valuation last week, with HDFC Bank and Adani Total Gas emerging as the top gainers. While Infosys and HDFC were the other gainers, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, State Bank of India and Life Insurance Corporation [...]

Trading in the equity market in the holiday-shortened week ahead will be largely guided by the ongoing quarterly earnings, global trends and foreign fund movement, analysts said. Dalal Street also may face volatility amid monthly derivatives expiry, they added. "This week will be a shortened week because the market will be closed on Thursday in [...]

The Human Resource industry anticipates various measures from the upcoming Budget 2023, that will be beneficial for employees, the employment process, for job development and will address the skill-gap challenge in the country. The Indian economy is on the road to recovery after the Covid-19 pandemic significantly affected the country's economic growth. Industry players are [...]

Benchmark Sensex and Nifty closed lower for the second day in a row on Friday due to a decline in index major Reliance Industries, Hindustan Unilever, and Infosys amid concerns over global economic slowdown. The 30-share BSE Sensex declined 236.66 points or 0.39 per cent to settle at 60,621.77 with 20 of its constituents ending [...]

The Finance Ministry on Friday asked banks to further increase credit penetration in aspirational districts and ensure availability of at least one banking outlet within 5 km of all inhabited villages. Progress of 112 Aspirational Districts under Targeted Financial Inclusion Intervention Programme (TFIIP) was discussed in detail during a review meeting of Lead District Managers [...]

India's forex reserves zoomed by USD 10.417 billion to USD 572 billion as on January 13, making it one of the biggest weekly jumps in the kitty in recent times. In the previous reporting week, the overall reserves had dropped by USD 1.268 billion to USD 561.583 billion. In October 2021, the country's forex kitty [...]

The government on Friday made it mandatory for social media influencers to disclose their "material" interest in endorsing products and services and violations can attract strict legal action, including ban on endorsements. The regulations are part of continuing efforts to curb misleading advertisements as well protect the interests of consumers amid the expanding social influencer [...]

Asking the world to be pragmatic and collaborate, IMF chief Kristalina Georgieva on Friday said fragmentation can cost up to 7 per cent of the global GDP. "If we don't unite now, we'll face significant risk to the economy and people's wellbeing," she said during a session on global economy on the last day of [...]

The Centre is all set to introduce a research linked incentive programme shaped on the lines of the production linked incentive (PLI) scheme to boost research and development of biotech products in the country, said Drugs Controller General of India Dr V G Somani on Friday. PLI scheme aims to give companies incentives on incremental [...]

The Pakistan government has requested the IMF to send its mission to the country at the earliest, preferably next week, to conclude a long-awaited agreement to revive the bailout programme, as it conveyed its willingness to accept all the four major conditions set by the global lender, according to a media report. Cash-strapped Pakistan revived [...]

The Defence Ministry has eased rules for rolling out mobile towers, optical fibre and other telecom infrastructure gears in its area in line with the "Right of Way (RoW)" Rules notified by the Telecom Ministry in 2016. A copy of the new rules uploaded on Gati Shakti Portal on Thursday replaces "shared communication tower and [...]

The insurance industry will need a capital infusion of Rs 50,000 crore per year to double its penetration in the next five years, sector watchdog Irdai's chief Debasish Panda said on Friday. Panda appealed to business conglomerates to channelise funds into the sector, saying the return on equity is at a healthy 14 per cent [...]