Latest Indian Economy News

Mumbai, Apr 29 (PTI) Rising cases are "early hints" of a fourth wave of the COVID-19 pandemic but do not pose any near-term risk to India's economic growth, a Japanese brokerage said on Friday. However from a medium-term perspective, there are headwinds for growth like high inflation, weak private capex and slower global growth, Nomura [...]

Mumbai, Apr 29 (PTI) Bank credit is likely to grow at a four-year high of 11-12 per cent in fiscal 2023, on the back of better economic growth and budgetary support from the government, according to a report.In the fiscal ended March 2022, bank advances have likely grown at 9-10 per cent."Healthy economic growth and [...]

New Delhi, Apr 29 (PTI) The lack of coordination amongst ministries of coal, railways and power is responsible for coal shortage which caused power outages across the country, the All India Power Engineers Federation (AIPEF) claimed on Friday. "The power outages across the country due to coal shortage are due to the lack of coordination [...]

The government expects to grant approvals to electronic chip makers in the next 6-8 months as it looks to encourage domestic manufacturing of semiconductors, union minister Ashwini Vaishnaw said on Friday. Speaking at the Semicon India-2022 conference here, Vaishnaw said it will be done in "the next 6-8 months". Minister of state for electronics and [...]

Bengaluru, Apr 29 (PTI) Union Minister Ashwini Vaishnaw on Friday said the country is already manufacturing electronic goods worth USD 76 billion and is on the way to reaching USD 300 billion. He also said developing a semiconductor industry is not a sprint but a marathon and that the government is for it. "We are [...]

New Delhi, Apr 29 (PTI) The government may not auction spectrum frequency range between 27.5-28.5 gigahertz and leave it for satellite services, according to official sources. The Telecom Regulatory Authority of India (Trai) had recommended a base price for this frequency range and suggested that it can be used for both mobile as well as [...]

Colombo, Apr 29 (PTI) A delegation of the ruling SLPP coalition dissidents representing the former President Maithripala Sirisena-led SLFP, has met the Indian High Commissioner in Sri Lanka Gopal Baglay and briefed him on the current political impasse in the country and plans for an interim government arrangement to address the worst economic meltdown.Sri Lanka [...]

Washington, Apr 28 (PTI) More than 55 countries have launched a declaration for the future of the internet, the White House said on Thursday, adding that the doors are still open for countries like India which have not joined it.The Declaration for the Future of the Internet is in part a response to a rising [...]

Islamabad, Apr 28 (PTI) Pakistan's top Islamic court on Thursday declared the prevailing interest-based banking system as against the Sharia law and directed the government to replace it with an interest-free system by the end of 2027.Announcing the verdict in a long-pending case on Riba (interest), the Federal Shariat Court (FSC) directed the government to [...]

New Delhi, Apr 28 (PTI) Citing high inflation, the Federation of Hotel and Restaurant Associations of India on Thursday appealed to the GST Council to rationalise the GST rates for the hospitality sector.  FHRAI has also asked the government to consider simplification of goods and services tax (GST) rules to enable the establishments falling under [...]

New Delhi, Apr 28 (PTI) Renewable energy has come to the rescue during the ongoing power crisis triggered by surging demand amid the heat wave condition in the country, especially when the peak electricity supply hit the record level of 201.06 GW earlier this week, a senior official said on Thursday. The maximum pan-India power [...]

New Delhi, Apr 28(PTI) Observing that delay in adjudication of commercial disputes affects the ease of doing business, the Supreme Court Thursday ordered the Allahabad High Court Chief Justice to prepare a roadmap for early disposal of execution petitions under the Arbitration Act. A bench of Justices M R Shah and B V Nagarathna said [...]

New Delhi, Apr 28 (PTI) With a number of global tech giants facing CCI probe for alleged anti-competitive practices, a key Parliamentary panel on Thursday decided to summon representatives of Google, Amazon, Facebook, Twitter and others to examine their competitive behaviour. The next meeting of the panel on the issue is likely to be held [...]

Mumbai, Apr 28 (PTI) ICICI Bank on Thursday said it is targeting to double its loan book to small and medium enterprises (SMEs) in the next two years on higher demand from the segment.The second-largest private sector lender has seen that in the last two years, the SME loan book has doubled to Rs 40,000 [...]

IWIL India, in collaboration with TechSupergirl, hosted the Future of Work Summit and Awards "TechVersify 2022" with the change-makers, thought leaders and influencers from various sectors at the Roseate House, Aerocity, New Delhi, on April 23, 2022. The summit was held under the patronage of Ms. Deepa Sayal, IWIL India's Founder and sponsored by ADG [...]

Mumbai, Apr 28 (PTI) RBI on Thursday modified norms for banks to claim the amount of interest subvention provided to farmers under the short-term crop loan scheme through Kisan Credit Card (KCC) during the last fiscal. Pending claims for the 2021-22 financial year can be submitted by June 30, 2023 and those have to be [...]

NEW DELHI, April 28, 2022 /PRNewswire/ -- TAKI DAO, which comprises the community of $TAKI token holders, has announced the launch of an Initial Exchange Offering (IEO) for its token- $TAKI. Proceeds from the IEO will benefit the TAKI DAO's community treasury. This IEO will enable $TAKI to reach a broader global audience and expand [...]

Colombo, Apr 28 (PTI) Nearly 1,000 trade unions in Sri Lanka staged a one-day nationwide strike on Thursday demanding the immediate resignation of the government, including President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa, over its failure to tackle the country’s unprecedented economic crisis. Sri Lanka is currently in the throes of unprecedented economic turmoil [...]

Jammu, Apr 28 (PTI) The Jammu Development Authority is among 56 autonomous bodies in Jammu and Kashmir, and Ladakh that has not submitted accounts for audit for the past many decades, the Comptroller and Auditor General (CAG) of India has said, noting that the delay in finalisation of accounts entails the possibility of “fraud” and [...]