Latest Indian Economy News

After proving its poweress in the field of software, India should strive to become a hub for software products, President Droupadi Murmu said on Saturday. While speaking at the 7th edition of Digital India Awards, Murmu said that there should focus on democratising government data to help technology enthusiasts in the country develop localised digital [...]

The Indian economy is estimated to grow at 7 per cent in the 2022-23 fiscal, down from 8.7 per cent a year ago, mainly due poor performance of mining and manufacturing sectors. As per the first advance estimates of national income released by the National Statistical Office (NSO) on Friday, the manufacturing sector output is [...]

Farm reforms in India are pending even today since 1991, while neighbouring China implemented them way back in 1978, Prime Minister’s Economic Advisory Council's (PMEAC) Chairman Bibek Debroy said on Friday. The reforms undertaken in India in 1991 were pertaining to external factors and industrial liberalisation, and were not related to agriculture, he said. Currently, [...]

New Delhi, Jan 6 (PTI) Taming inflation is the top priority for South Asian countries like India as an unchecked price rise may pose risk to growth and investment outlook, Reserve Bank (RBI) Governor Shaktikanta Das said on Friday. Speaking at an event organised by the International Monetary Fund (IMF), he said rising levels of [...]

Equity benchmarks pared initial gains to end lower on Friday, recording their third day of decline, amid weak trend in IT counters. The 30-share BSE Sensex tumbled 452.90 points or 0.75 per cent to settle at 59,900.37. During the day, it tanked 683.36 points or 1.13 per cent to 59,669.91. The broader NSE Nifty went [...]

Islamabad, Jan 6 (PTI) Prime Minister Shehbaz Sharif has made a telephonic call to International Monetary Fund chief Kristalina Georgieva to break the deadlock over the release of the next tranche of assistance for cash-strapped Pakistan, according to a media report on Friday. The contact was made four days before an expected face-to-face meeting between [...]

RBI Governor Shaktikanta Das on Friday said the government and the central bank are in discussion with South Asian countries to have cross-border trade in rupee. He also said the central bank digital currency (CBDC) is in trial phase and the RBI is moving very carefully and cautiously on digital rupee launch. After the successful [...]

Pakistan central bank's foreign exchange reserves plummeted to an eight-year low of over USD 5.5 billion amidst fear of default, according to a media report on Friday. The forex reserves have dwindled despite efforts by the government to shore up its economy. According to a report by the Dawn newspaper, the State Bank of Pakistan's [...]

Capital markets regulator Sebi on Thursday extended the timeline till January-end for entering the details of existing outstanding non-convertible securities in the security and covenant monitoring system hosted by depositories. Earlier, this was to be complied by October 31, 2022. This is the second time Securities and Exchange Board of India (Sebi) has extended the [...]

The National Statistical Office will release the first advance estimates of economic growth for 2022-23 on Friday evening, three weeks ahead of presentation of General Budget in Lok Sabha on February 1. The first advance estimates of national income for 2022-23 is significant because the data is used for preparing the Budget of the central [...]

Karnataka Chief Minister Basavaraj Bommai on Thursday appealed to Union Minister for Road Transport and Highways Nitin Gadkari to clear projects worth Rs 1 lakh crore in the state. He also requested him to undertake projects related to ring roads in Raichur, Gadag, Koppal and Shivamogga as well. "We mainly discussed the works of the [...]

The Indian FMCG sector witnessed improvement in margins and slow growth in the December 2022 quarter but the rural markets continued to drag as retail inflation stayed at elevated levels, according to industry players. Godrej Consumer Products Ltd (GCPL) and Marico reported that although there is softness in demand, there has been an improvement partly [...]

Pitching Uttar Pradesh as a safe investment destination, Chief Minister Yogi Adityanath on Thursday assured industrialists of a strong law and order situation devoid of fear and free of land mafia. "You must have seen that before 2017, there used to be riots every other day, now the law and situation in the state is [...]

IIFCL Managing Director PR Jaishankar on Thursday made a case for having a dedicated infrastructure law for protecting the interest of all stakeholders and giving a push to this important sector in realising the dream of making India a USD 5 trillion economy. "Infrastructure projects are very long term and generational in nature. A holistic [...]

The government is planning to come out with a comprehensive policy for mandatory adoption of Indian Standard Time (IST) nationwide, a senior consumer affairs ministry official said. The purpose is to ensure synchronization of all networks and computers to IST and adoption of IST by Telecom Service Providers, Internet Service Providers, power grids, banks, stock [...]

Six entities, including HSBC and Creditwatch, have been allowed to test their fintech products to prevent and mitigate financial fraud as part of the fourth cohort under the RBI's regulatory sandbox scheme. Regulatory sandbox refers to the live testing of new products or services in a controlled/test regulatory environment for which the regulators may permit [...]

Indian companies have overtaken American firms in gross leasing of office space for the first time, with almost a 50 per cent share in the total demand, according to CBRE India. In its report released on Thursday, CBRE said that the gross leasing of office space rose 40 per cent in 2022 to 56.6 million [...]

Equity benchmarks ended lower for the second straight session on Thursday, dragged down by banking and finance counters and continuous foreign fund outflows. The 30-share BSE Sensex ended 304.18 points or 0.50 per cent lower at 60,353.27 after it failed to hold on to initial gains. During the day, it fell 607.61 points or 1 [...]

Banks and financial institutions need to design products in sync with requirements of infra projects in view of the whopping Rs 111 lakh crore National Infrastructure Pipeline (NIP), Financial Services Secretary Vivek Joshi said on Thursday. Observing that the infrastructure sector has strong backward and forward linkages with the robust multiplier effect across the sectors, [...]

Continued pricing pressures in the US and European markets coupled with regulatory overhang and cost inflation will affect profit margins of major Indian pharmaceutical firms, ratings agency ICRA said on Thursday. The revenues for a sample set of 16 Indian pharmaceutical firms, including the likes of Wockhardt, Torrent Pharmaceuticals, Pfizer, Abbott India, Cipla, Lupin, Sun [...]