Latest Indian Economy News

India's economic growth will accelerate to 8.5 per cent in the April-June period of the current fiscal from the 6.1 per cent growth rate witnessed in the preceding January-March quarter, Icra Ratings said in a report on Tuesday. The rating agency attributed the faster growth to a supportive base and also a recovery in the [...]

Maharashtra Deputy Chief Minister Devendra Fadnavis on Tuesday said the Centre has decided to purchase two lakh metric tonnes of onion at the rate of Rs 2,410 per quintal, and expressed hope this will provide relief to producers of the key kitchen staple in the state. He also said special procurement centres will be set [...]

The government will launch the 'Mera Bill Mera Adhikar' invoice incentive scheme, which offers cash prizes from Rs 10,000 to Rs 1 crore, from September 1, starting with six states and Union Territories. The scheme, which is aimed at motivating customers to ask for a bill every time they make purchases, will be launched in [...]

A majority (80 per cent) of small and medium enterprises in the country believe the government funding is key to unlocking digitalisation in the future, according to a study by Gartner-acquired software selection platform Capterra. The 'State of Digitalisation in India survey: Major barriers and role of government' report is based on responses collected from [...]

The value of foreign portfolio investors' holdings in domestic equities reached USD 626 billion in the three months ended June 2023, which was 20 per cent higher from the year-ago period, according to a Morningstar report. This could be attributed to good performance in the domestic equity markets as well as strong net inflows from [...]

The government on Monday said the decision to impose a 40 per cent export duty on onions was not a "premature" but a timely move to boost domestic supply and control retail prices. The statement comes amid farmers' protest at several places in Nashik district in Maharashtra against the 40 per cent duty imposed on [...]

Equity benchmark indices Sensex and Nifty closed higher on Monday after two days of decline, supported by buying in index majors Infosys, ITC and Bajaj Finance amid a mixed trend in global markets. In a range-bound trade, the 30-share BSE Sensex climbed 267.43 points or 0.41 per cent to settle at 65,216.09. During the day, [...]

India has the potential to emerge as a global plastic supplier and the domestic plastic market is expected to more than triple to reach Rs 10 lakh crore by 2027-28, officials said on Sunday. According to the All India Plastics Manufacturers Association, the market size of plastics in India was Rs 3.5 lakh crore. Besides [...]

The Rajasthan government has approved Rs 381.74 crore for the development and strengthening of six canal water projects in different areas of the state. With this approval, Rs 79.94 crore will be for water availability in the Rajsamand dam by increasing the capacity of the Khari feeder, Rs 17.60 crore for the Balera and Sanchore [...]

Lupin is a pharmaceutical company, develops and sells a range of branded and generic formulations, biotechnology products, and active pharmaceutical ingredients (APIs) in India and abroad. The Mumbai-based drug maker said it has acquired Ondero and Ondero Met, including the trademark rights associated with these brands. The company said it has acquired two diabetes brands [...]

Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal energy stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined [...]

Equity benchmark indices fell in early trade on Friday amid bearish global cues and fresh foreign fund outflows. Markets also declined as IT stocks slipped. The 30-share BSE Sensex was down 297.62 points to 64,853.40. The NSE Nifty dipped 88.75 points to 19,276.50. From the Sensex pack, Tata Consultancy Services, Wipro, HCL Technologies, Infosys, Tech [...]

The PM-eBus Sewa will act as a catalyst for promotion of electric vehicles across urban centers to drive the penetration of electric mobility, Society of Manufacturers of Electric Vehicles (SMEV) said on Thursday.he PM-eBus Sewa will support bus operations for 10 years.  "Buses being a pivotal source of urban pollution, the decision will help substantially [...]

Snapping their two-day winning run, equity benchmarks Sensex and Nifty closed in the negative territory on Thursday, tracking losses in index majors Reliance Industries, ITC and HDFC bank amid a weak trend in global markets. The BSE benchmark had climbed 137.50 points or 0.21% to settle at 65,539.42 on Wednesday. The Nifty gained 30.45 points [...]

The Nepal government has requested India to facilitate the supply of paddy, rice and sugar, a senior official said here on Wednesday, as a precautionary measure to mitigate any possible food scarcity in the upcoming festive season. The request was made through the Ministry of Foreign Affairs to the Indian authorities last week, Commerce and [...]

Rajasthan Chief Minister Ashok Gehlot has approved the customized packages for seven projects to encourage investment of Rs 24,681 crore in the state. The proposals approved in the fifth meeting of the Board of Investment will create employment opportunities for more than 10,000 people, a release said. Gehlot addressed the meeting at his residence on [...]

Banks' lending to non-banking finance companies (NBFCs) rose by 35.1% to Rs 14.2 lakh crore in June, a report said. Credit exposure of banks to NBFCs rose by a robust 35.1% on-year to Rs 14.2 lakh crore in June, indicating non-banking finance firms' decreased reliance on international borrowings. Meanwhile, mutual funds' debt exposure to NBFCs, [...]

Benchmark equity indices Sensex and Nifty pared early losses to close higher on Wednesday, helped by fag-end buying in index majors Infosys, L&T and M&M amid a mixed trend in global markets. The 30-share BSE Sensex climbed 137.50 points or 0.21% to settle at 65,539.42. During the day, it fell by 369.03 points or 0.56% [...]

Fitch Ratings on Wednesday said the operating environment for Indian banks has strengthened as economic risks associated with the Covid-19 pandemic have ebbed. A number of prudential indicators for the sector have also improved compared to pre-pandemic levels, and the operating environment score continues to benefit from the economy’s well-diversified structure, which helps to reduce [...]

Leading financial/investment institutions, commercial banks, and financial services firms founded ICRA Limited (formerly known as Investment Information and Credit Rating Agency of India Limited) in 1991 to serve as an independent and qualified investment information and credit rating agency. The telecom services industry is expected to post moderate revenue growth of 7-9 per cent in [...]