Latest Indian Economy News

Kolkata, Apr 19 (PTI) Asserting that the jute industry is on the verge of collapse, endangering the livelihood of three crore people engaged in this sector, Trinamool Congress Chief Whip in the Rajya Sabha, Sukhendu Sekhar Ray, sought the intervention of the Centre to resolve the crisis.For this situation, Ray blamed the Jute Commissioner's Office [...]

New Delhi, Apr 19 (PTI) Demand for two-wheelers continues to be weak while that for passenger and commercial vehicles remains robust as compared with last year, a survey on automobile dealerships by ratings agency Icra has revealed. Automobile dealership industry has been witnessing several headwinds in the recent past, including subdued demand for two-wheelers (2W), [...]

New Delhi, Apr 19 (PTI) Majority of the corporates are willing to pay premium to take green certified buildings on lease as sustainability has become an important consideration along with location and rental, according to property consultant JLL. In its report 'Sustainable real estate: India's response to a greener future', the consultant said that sustainability [...]

Washington, Apr 19 (PTI) Finance Minister Nirmala Sitharaman on Tuesday discussed a range of issues, including the current geopolitical situation and its economic impact, with IMF chief Kristalina Georgieva, and highlighted the Indian government's commitment to support growth through capital expenditure. During the meeting with Georgieva on the sidelines of the ongoing annual spring meetings [...]

New Delhi, Apr 19 (PTI) State-owned fuel retailers IOC, BPCL and HPCL may suffer marketing losses in January-March 2022 quarter for holding petrol and diesel prices despite a rise in cost but robust core refining margins and windfall inventory gains should mitigate the potential losses in near term, Fitch Ratings said Tuesday. The three fuel [...]

Washington, Apr 19 (PTI) Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth. During the meeting held on the sidelines of the ongoing annual spring meetings of the International Monetary Fund (IMF) and the World Bank, the IMF [...]

Washington, Apr 19 (PTI) Finance Minister Nirmala Sitharaman has met her Sri Lankan counterpart Ali Sabry here and assured him that as a close friend and good neighbour, India will try to extend all possible cooperation and assistance to the island nation amidst its worst economic crisis. Sri Lanka, which is on the brink of [...]

New Delhi, Apr 19 (PTI) Honda Cars India Ltd (HCIL) on Tuesday said it has started production of the upcoming electric hybrid version of its popular sedan, City. The new 'Honda City e:HEV' will be launched early next month. It is being manufactured at the company's manufacturing facility at Tapukara in Rajasthan. Customers can book [...]

Mumbai, Apr 18 (PTI) Higher foreign exchange reserves have lowered the cost of foreign borrowings and also the hedging cost for companies, according to a paper published in RBI's monthly bulletin.Since 2019, the RBI has been accumulating forex reserves that peaked at USD 642.453 billion in the week ended September 3, 2021, which was more [...]

Mumbai, Apr 18 (PTI) Mumbai international airport on Monday said it witnessed 5,56,900 metric tonnes of cargo movement during the financial year 2021-22, an increase of 30 per cent from the previous fiscal. The total exports from the cargo terminal stood at 2,96,300 MT while the inbound shipments recorded at 2,60,600 MT in FY22, Chhatrapati [...]

New Delhi, Apr 18 (PTI) Capital markets regulator Sebi on Monday said it has issued operational guidelines for security and covenant monitoring using Distributed Ledger Technology (DLT). In August, the regulator specified the manner of recording of charges by issuers and manner of monitoring by debenture trustees, credit rating agencies and responsibilities, among others. The [...]

New Delhi, Apr 18 (PTI) India's sugar exports increased to USD 4.6 billion (about Rs 35,000 crore) in 2021-22 from USD 1.17 billion (about Rs 9,000 crore) in 2013-14, the commerce ministry said on Monday. India exported sugar to 121 countries across the globe, it said."The growth was achieved despite logistical challenges posed by COVID-19 [...]

Mumbai, Apr 18 (PTI) India is facing the tremors caused by geopolitical developments from "a position of strength" with improving fundamentals and strong buffers, according to an RBI article. Broadened vaccine coverage, financial sector resilience, robust export and remittances, and fiscal reprioritisation to spur capital spending on infrastructure are helping India, the article said, adding [...]

New Delhi, Apr 18 (PTI) New business premium income of all the life insurance companies rose by nearly 13 per cent to Rs 3,14,263 crore in fiscal 2022, data from Irdai showed on Monday.Twenty four life insurance companies had a total premium income of Rs 2,78,277.98 crore from new business in the previous fiscal.Soon-to-be listed [...]

New Delhi, Apr 18 (PTI) Agriculture Minister Narendra Singh Tomar on Monday launched two new portals, including one for registration of pesticides. Another portal is for documentation related to imports and exports of agri-products and plants. The minister launched the two portals -- CROP (Comprehensive Registration of Pesticides) and PQMS (Plant Quarantine Management System) -- [...]

Kathmandu, Apr 18 (PTI) The Nepal government has cut fuel allowance of its ministries and state-owned enterprises by 20 per cent, as the country battles a foreign exchange crisis and the price of petroleum products sky-rockets globally, officials said on Monday. The decision was taken at a meeting of the Council of Ministers held on [...]