Latest Indian Economy News

The Jammu and Kashmir administration has proposed an allocation of Rs 350 crore in next five years for the development of dairy sector across the Union Territory and said the move will create around 16,000 jobs and 600 enterprises. The administration has recently approved a project to increase milk production in the region by a [...]

Equity benchmarks extended their rally for the second straight session on Wednesday amid buying in index heavyweights HDFC twins and foreign funds inflows. Recovery in most of the Asian markets and positive start in European equity exchanges also added to the momentum. The 30-share BSE Sensex climbed 390.02 points or 0.64 per cent to settle [...]

Corporate funding in the global solar sector declined 13 per cent year-on-year to USD 24.1 billion in 2022, according to a Mercom Capital report. Corporate funding includes venture capital and private equity (VC and PE), debt financing, and public market financing. "Total corporate funding in 2022 (first nine months) stood at USD 24.1 billion, 13 [...]

Agro Chem Federation of India (ACFI) has demanded that the government should cut import duty on crop protection chemicals in the upcoming budget and also provide fiscal incentives to private players for undertaking research. The ACFI is an industry body representing manufacturers/ importers of technical and formulation of pesticides at the pan-India level. "India presently [...]

Women from tier 2 cities have been enthusiastically participating to be a part of the workforce and have also started opting for unconventional roles for flexibility and better income opportunities, says a report. In 2022, jobs and professional networking platform 'apna' witnessed more than 31 million professional conversations among women from tier 1, tier 2, [...]

Prices of luxury properties appreciated by 8-12 per cent during the last year across major cities and has breached the 2015 peak level, according to India Sotheby's International Realty. In its annual 'Luxury Outlook Survey 2023', India Sotheby's International Realty (ISIR) revealed that 61 per cent of High-Net-worth Individuals (HNIs) and Ultra High-Net-worth Individuals (UHNIs) [...]

Ahead of the Budget session of Parliament, the finance ministry has sought expenditure proposals for the second and final batch of Supplementary Demands for Grants from various ministries and departments. The final batch of Supplementary Demands for Grants for 2022-23 is proposed to be placed before Parliament in the ensuing session, the ministry said in [...]

Uttar Pradesh has received investment commitments of about Rs 2 lakh crore in the solar energy and related sectors, state energy minister A K Sharma said. UP has launched 'Uttar Pradesh Solar Energy Policy 2022' which aims to set up 22 gigawatt (GW) of green energy projects by 2027 in the state, Sharma told PTI [...]

As many as 4 in 5 Indian professionals are considering job change this year and are keen on switching to roles that offer the right wage, and allows for appreciable work-life balance and flexibility, says a report. According to LinkedIn's economic graph data, hiring level in India was 23 per cent slower in December 2022 [...]

Equity benchmarks climbed in initial trade on Wednesday, extending their previous day's rally, amid buying in index heavyweight HDFC twins and foreign funds inflow. The 30-share BSE benchmark Sensex climbed 107.28 points to 60,763. The broader NSE Nifty went up by 37.25 points to 18,090.55. From the Sensex pack, Tata Steel, Wipro, HDFC Bank, HCL [...]

Health Minister Mansukh Mandaviya on Tuesday extended his full support for a global plan for a new tuberculosis vaccine by 2025 and said India is fully prepared and in an advanced stage for taking this forward. Addressing a session at the World Economic Forum Annual Meeting 2023 here on 'Ending Tuberculosis', the minister said, "Just [...]

The Federation of Retailer Association of India (FRAI) Tuesday sought tax cuts on daily use consumer goods to counter the high demand for smuggled and counterfeit products, which currently have a price advantage. The FRAI, a representative body of about 80 lakh micro, small and medium retailers in 42 member retail associations, raised its concern [...]

Industry body PHDCCI on Tuesday sought increase in the tax rebate benefits for consumption expenditure, reduction in the cost of doing business and hassle free disbursement of loans at affordable rates for businesses in the upcoming Union Budget 2023-24. "At this juncture, to enhance the consumption in the economy, there is a need to increase [...]

Finance Minister Nirmala Sitharaman will keep on the path of fiscal consolidation and opt for narrowing the FY24 fiscal deficit to as low as 5.8 per cent in the upcoming Budget, analysts said on Tuesday. The government may go for a fiscal deficit number which will be far lower than the 6.4 per cent of [...]

Indian consumers are willing to pay a premium for purchasing their next vehicle despite fears of inflation, with a large portion of them looking at automobiles in the Rs 10–25 lakh price bracket, according to a study by Deloitte. They are now prioritising experience over cost, indicating a clear shift in buying pattern and a [...]

Operating margins of India Inc are likely to have fallen by 270 basis points (bps) to 18-19 per cent in the December quarter on easing commodity prices and moderating revenue growth, says a report. However, sequentially, operating margins are set for a rise for the first time in six quarters, Crisil said on Tuesday. Cheaper [...]

The Reserve Bank has sounded a note of caution on reversion to the old pension scheme by some states, saying it poses a major risk on the "subnational fiscal horizon" and would result in accumulation of unfunded liabilities in the coming years for them. The observations in the RBI's Report titled 'State Finances: A Study [...]

The Sensex and Nifty ended nearly 1 per cent higher on Tuesday amid buying in index majors Reliance Industries and HDFC twins. The 30-share BSE benchmark Sensex rallied 562.75 points or 0.94 per cent to settle at 60,655.72. During the day, it jumped 611.51 points or 1 per cent to 60,704.48. The broader NSE Nifty [...]

Capital markets regulator Sebi on Tuesday proposed to introduce a blocking of funds facility for trading in secondary markets, a move aimed at safeguarding investors' money from misuse and default by stock brokers. This is similar to Application Supported by Blocked Amount (ASBA)-like facility already available for the primary market which ensures that money from [...]