Latest Indian Economy News

Commerce and Industry Minister Piyush Goyal on Monday called for making a strong database of all startups in the country as it would help both public and private sectors. He said the database can help the government in its procurement of goods and services. Goyal added that there must be a number of startups having [...]

The wholesale price-based inflation declined to 4.95 per cent in December 2022, mainly due to fall in prices of food articles and crude petroleum. The Wholesale Price Index (WPI)-based inflation was 5.85 per cent in November 2022 and 14.27 per cent in December 2021. Inflation in food articles was (-)1.25 per cent, while in fuel [...]

Pakistan's average productivity growth, a crucial determinant of an economy's growth, remained just 1.5 per cent from 2010 to 2020, according to a media report. Dawn reported that the study — titled Sectoral Total Factor Productivity in Pakistan and — noted that the growth of productivity is a crucial determinant of an economy's growth that [...]

Union Minister for Micro, Small and Medium Enterprises Narayan Rane on Monday said the central government and Prime Minister Narendra Modi are making efforts to ensure citizens are not affected by the global economic slowdown. He was speaking to reporters after inaugurating the G20's 1st Infrastructure Working Group (IWG) meeting in Maharashtra's Pune city. Asked [...]

To support the massive growth in the aviation sector, the India Infrastructure Finance Company Limited (IIFCL) has extended a credit of Rs 6,630 crore for the development of six major airports in the country and looks forward to increasing its exposure in the coming years, said its managing director P R Jaishankar. Bullish on the [...]

With various mergers and acquisitions awaiting CCI approval, industry participants have sought measures to address the issue of lack of quorum at the competition watchdog which does not have a chairperson for more than two months now. Mergers and acquisitions beyond a certain threshold require the approval of Competition Commission of India (CCI) under the [...]

Around 58 per cent of developers expect housing prices to increase this year because of rise in input costs, while 32 per cent builders feel it will remain stable, according to a survey. According to the 'Real Estate Developers Sentiment Survey', by Realtors apex body CREDAI, real estate consultant Colliers India and property research firm [...]

The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the [...]

The government is expected to propose amendments to the competition law after taking into consideration various suggestions of a Parliamentary panel, in the upcoming Budget session of Parliament, according to a senior official. Besides, discussions are going on with respect to amendments to the Insolvency and Bankruptcy Code (IBC) as well as the Companies Act, [...]

India's IT services heavyweights delivered between 14-20 per cent on-year growth in topline for December quarter, as they raised guard on global uncertainties and choppy verticals, but remained hopeful that costs as well as business considerations will drive tech demand. The tech earnings season began with large IT companies -- Tata Consultancy Services (TCS), Infosys, [...]

The Confederation of Indian Alcoholic Beverage Companies (CIABC) has written to the Delhi Government seeking removal of rules that allegedly discriminate against Indian-made products and promote imports in the forthcoming excise policy for 2023-24. Suggesting measures for the incorporation in the forthcoming excise policy for the next financial year, the representative body of the Indian [...]

Ahead of the Union Budget, Finance Minister Nirmala Sitharaman said on Sunday that she was aware of the pressures of the middle class but also recalled that the present government has not imposed any fresh taxes on them. Sitharaman will present Union Budget for 2023-24 in the Lok Sabha on February 1 amid expectations that [...]

To expedite the redevelopment of the mill land, the National Textile Corporation (NTC) has formed a committee to study and suggest ways for rehabilitating the people living in the premises of nine of its defunct mills in the central areas of the megapolis, Union industry and commerce minister Piyush Goyal said on Sunday. The city [...]

The United Forum of Bank Unions has given a call for a two-day nationwide strike on January 30 and 31 to press for various related to the 11th wage settlement of bank employees, a union leader said on Sunday. The 11th wage settlement of bank employees had occurred on November 11, 2020 between the Indian [...]

Mishandling, malfunctioning of aircraft system or pilot fatigue could be among the factors that caused the deadly plane crash in Nepal that killed at least 68 people on Sunday, according to pilots and an aircraft accident investigation expert. They also said the exact reasons that led to the accident will be known only after a [...]

'Think-20' meeting under the G20 will begin in Bhopal on Monday during which experts and foreign guests will discuss various topics, including 'Global Governance with LiFE, Values, and Wellbeing', officials said. Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Saturday evening reviewed preparations for the two-day meeting, which will be attended by 94 representatives from [...]

Union Education Minister Dharmendra Pradhan on Sunday said India has to become a manufacturing economy for achieving the 'Make in India' goal. He said India currently has the momentum to achieve it. "Until India becomes a manufacturing economy, it will continue to buy goods from others as a purchasing economy," the minister, who also holds [...]

Prime Minister Narendra Modi on Friday said both public and private sectors need to leverage synergies and think out of the box to seize opportunities arising as a result of the emerging global environment. While interacting with noted economists and experts at NITI Aayog ahead of the Union Budget, the Prime Minister also applauded the [...]

India's forex reserves declined by USD 1.268 billion to USD 561.583 billion for the week ended January 6, the Reserve Bank said on Friday. The overall reserves had increased by USD 44 million to USD 562.851 billion in the previous reporting week after two consecutive weeks of the slide. In October 2021, the country's foreign [...]

Prime Minister Narendra Modi on Friday met several prominent economists as his government gets ready to present the Union Budget for 2023-24 amid global headwinds emanating from geopolitical tensions, said sources. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget in the Lok Sabha on February 1. The minister has already met different [...]