Latest Indian Economy News

The Indian advertising market is forecast to grow by 16 per cent in 2022 to reach USD 11.1 billion (Rs 88,639 crore), becoming the fastest growing market globally, a report said on Thursday. This would lead to over 14.5 per cent growth by TV and 31.6 per cent on the digital side, said Dentsu Global [...]

Bank credit grew by 13.29 per cent to Rs 123.81 lakh crore and deposits by 9.77 per cent to Rs 169.61 lakh crore in the fortnight ended on July 1, RBI data showed. In the fortnight ended June 2, 2021, bank advances stood at Rs 109.28 lakh crore and deposits at Rs 154.51 lakh crore, [...]

Rating agency Icra on Thursday said it expects prices of domestic coal to remain high in the ongoing quarter as well given the supply challenges of the dry fuel during monsoon. The domestic e-auction premium on coal increased by over 400 per cent in May, thereby adversely impacting the cost structure of the base metal [...]

Domestic cigarette manufacturers are on course to record higher volume growth than the pre-pandemic levels at 5-6 per cent this fiscal, despite smuggled in cigarettes chipping away a good volume, a report said on Wednesday. Rating agency Crisil said it expects the volume to go past 93 billion sticks this year on the back of [...]

Retail inflation dropped marginally to 7.01 per cent in June mainly due to slight easing in prices of vegetables and pulses, though it remained above the Reserve Bank's comfort level for the sixth month in a row. The consumer price index (CPI) based inflation stood at 7.04 per cent in the preceding month of May [...]

Mutual funds focused on investing in fixed-income securities witnessed a heavy outflow of Rs 92,248 crore in June on uncertain macro environment, driven by expectations around an increasing rate cycle, higher commodity prices and slowdown in growth. This comes following a net outflow of Rs 32,722 crore in May and an inflow of Rs 54,756 [...]

The Supreme Court Monday sentenced fugitive businessman Vijay Mallya to four months in jail for committing contempt of court, saying he never showed any remorse nor tendered any apology for his conduct and adequate punishment must be imposed to maintain the majesty of the law. The apex court directed the Ministry of Home Affairs (MHA) [...]

The Finance Ministry Thursday pegged the exchange rate for dollar at Rs 79.90 for calculation of import duty with effect from July 8, as against Rs 78.95 a fortnight ago. The sharp revision is due to depreciation of rupee against dollar following outflow of capital caused by various external factors, including the hardening of interest rate [...]

Demand in the FMCG industry remained soft in the June quarter, with major players Dabur, Marico and Godrej Consumer Products Ltd (GCPL) stating that consumers have titrated consumption as unprecedented inflation continued to impact the share of their income available for spending on consumer staples. The domestic FMCG industry continued to be "hit hard by [...]

Cooking gas LPG price on Wednesday was hiked by Rs 50 per cylinder, the third increase in rates since May on firming international energy prices. Non-subsidised LPG now costs Rs 1,053 per 14.2-kg cylinder in the national capital, up from Rs 1,003 previously, according to a price notification of state-owned fuel retailers. Common households pay [...]

In line with the government's COP26 commitments, the Ministry of Steel has asked the stakeholders to develop a time-bound action plan to lower emissions in the steel industry. According to a ministry document, the iron and steel industry globally accounts for around 8 per cent of total carbon dioxide (CO2) emissions on an annual basis, [...]

About a dozen states on Wednesday pitched for extending by a few years the compensation paid to states for revenue lost from the implementation of the goods and services tax (GST) regime. The GST Council, the highest decision-making body of the indirect tax regime, however, did not take any decision at its meeting here. A [...]