Latest Indian Economy News

India's manufacturing sector activity rose to a 13-month high in December, supported by healthy inflows of new business and strong demand conditions, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) stood at 57.8 in December, up from 55.7 in November, as business conditions improved to the greatest [...]

India's power consumption logged a double-digit growth of over 11 per cent to 121.19 billion units in December 2022 compared to the year-ago period, according to government data. The robust growth of power consumption indicates sustained momentum of economic activities in December. Experts say power consumption and demand will further increase in January due to [...]

With special emphasis on youth, the last budget of the present Ashok Gehlot-led Congress government in Rajasthan is expected to be focused on social welfare schemes to counter inflation, one of the key issues on which the party would contest the assembly elections in 2023. The budget would also have a reflection of Rahul Gandhi's [...]

New supply of residential properties rose 51 per cent last year to 3,57,635 units across seven major cities as builders launched more projects to tap rising demand, according to Anarock. In its annual report for 2022, the leading housing brokerage said new launches increased to 3,57,635 units last year from 2,36,693 units in 2021 across [...]

India's petrol and diesel demand soared in December as increased consumption in agriculture sector helped build on the momentum generated by the festive season, preliminary industry data showed on Sunday. Petrol sales soared 8.6 per cent to 2.76 million tonnes in December, as compared to 2.54 million tonnes of consumption in the same month last [...]

Assam Chief Minister Himanta Biswa Sarma Sunday claimed that the state is on the growth trajectory after acheiving considerable financial stability during 2022. It is for the first time that the state is not dependent on the Centre for payment of salaries of its employees, which has been possible due to increased oil royalty, excise, [...]

Domestic passenger vehicles sales rose by 23 per cent to a record of 37.93 lakh units in 2022 led by the likes of Maruti Suzuki, Hyundai and Tata Motors as the companies rode on easing of pandemic related challenges and semiconductor shortages to cash in on pent up demand, specially for SUVs. Other manufacturers like [...]

The collections from Goods and Services Tax (GST) grew by 15 per cent to over Rs 1.49 lakh crore in December 2022, indicating improved manufacturing output and consumption demand, besides better compliance. This is the 10th month in a row that the revenues have remained above the Rs 1.4 lakh crore mark. The collection in [...]

India's digital prowess will grow in 2023 and over the next five years, driven by technology, start ups, semiconductors, electronics and computing, IT Minister Rajeev Chandrasekhar has said allaying any concerns over tech winter, and predicting spring for the country's booming innovation ecosystem. The comments by the IT minister are significant given the backdrop of [...]

Registration of properties in Mumbai city rose 9 per cent year-on-year during 2022 calendar year to nearly 1.22 lakh units -- highest in the last one decade -- on better demand, according to Knight Frank India. As per the data compiled by real estate consultant Knight Frank India, the registration of properties in Mumbai city [...]

The government's fiscal deficit at the end of November touched 59 per cent of the full year budget estimate, according to data released by the Controller General of Accounts (CGA) on Friday. In actual terms, the fiscal deficit -- the difference between expenditure and revenue -- was Rs 9,78,154 crore during the April-November period of [...]

Benchmark BSE Sensex and NSE Nifty pared all intra-day gains to end the last trading day of the year on a bearish note due to fag-end selling amid early losses in the European markets. The 30-share BSE Sensex fell 293.14 points or 0.48 per cent to settle at 60,840.74 on Friday. During the day, it [...]

In a bid to give a fillip to mine tourism, eight eco-parks have been constructed recently in different parts of the country and two more will be completed in the ongoing financial year, the government said on Friday. The said eco-parks are being developed on reclaimed land. Coal and mines minister Pralhad Joshi had inaugurated [...]

A total of 19,478 road accidents occurred in 2021 due to loss of control by the driver due to inappropriate speed, distraction or misjudging a curve, which claimed 9,150 lives while 19,077 people were injured, according to a report released by the Ministry of Road Transport and Highways (MoRTH). The report titled 'Road accidents in [...]

The commerce ministry has sought a reduction in the import duty on gold in the forthcoming budget with a view to push exports and manufacturing of the gems and jewellery sector, sources said. In July this year, the centre hiked gold import duty to 15 per cent from 10.75 per cent to check the current [...]

New Delhi, Dec 29 (PTI) Capital markets regulator Sebi on Thursday imposed a Rs 90 lakh penalty on eight entities for manipulating the share price of Mangalam Industrial Finance Ltd (MIFL). The regulator slapped a fine of Rs 15 lakh each on Rishabh Mahendra Shah and Pradeep Kumar Daga and Rs 10 lakh each on [...]

As India remained a bright spot in an otherwise gloomy global economic scenario, the country's corporate sector showed a good appetite for acquisitions in 2022, a year which also saw the downfall of some of its prominent leaders. Cement, retail, pharmaceuticals and quick commerce were the sectors that witnessed multi-crore deals as players sought to [...]

India's external debt stood at USD 610.5 billion in the second quarter of 2022-23, down by USD 2.3 billion from end-June 2022, the finance ministry said on Thursday. The external debt to GDP ratio stood at 19.2 per cent as at end-September 2022 as compared to 19.3 per cent at end-June. "At end-September 2022, India's [...]

Dalal Street investors became richer by more than Rs 16.36 lakh crore this year as the equity market scaled new highs despite persistent geopolitical uncertainties and inflation worries. Analysts attributed better macroeconomic fundamentals, the confidence of retail investors and foreign investors investing again in the domestic equities towards the latter half of 2022 as the [...]

Punjab Finance Minister Harpal Singh Cheema on Thursday said Goods and Services Tax (GST) collection has increased by 24.5 per cent year-on-year to Rs 11,967.76 crore in April-November this fiscal. Cheema said the total revenue from GST during the first eight months of 2021-22 was Rs 9,612.6 crore, whereas the total collection from April to [...]