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Economy News

underground petroleum storage

India's strategic petroleum reserves programme attracts overseas players

Major overseas players are interested in India's strategic petroleum reserves programme which the nation plans to expand by adding another 6.5 million tonnes capacity over and above the current 5.33 MT. Nov 11, 2018
p-chidambaram

BJP govt greedy, plans to take away RBI reserves, says P Chidambaram

The former Union Finance Minister says that the Modi government needs to understand the roles and functions of the central bank. Nov 10, 2018
Maruti Suzuki Swift, car sales

Festive season fails to light up passenger vehicle sales; registers marginal 1.55% growth in October

The month-long period from Navratri to Diwali usually sees increased vehicle sales in India. However, multiple factors, including rising fuel prices seem to have played spoilsport this time. Nov 10, 2018
Ravi Shankar Prasad

Modi govt to sell enemy property shares worth Rs 3,000 cr to boost disinvestment receipts

The move highlights the government's decision to dispose of enemy property which are now estimated at Rs 3,000 crore at current market prices. Nov 9, 2018
Real estate

NBFC cash shortage hits real estate sector amid IL&FS episode

The scale of the problem is so humungous that even the sanctioned home loans are not being disbursed. Nov 9, 2018
RBI

Govt. denies move to appropriate Rs 3.6 lakh crore from RBI reserves

"Lot of misinformed speculation is going around in media. Government's fiscal math is completely on track," says Economic Affairs Secretary Subhash Chandra Garg. Nov 9, 2018
Arun Jaitley

Visa and Mastercard losing market share in India to indigenous UPI, RuPay card: Arun Jaitley

PM Modi has said when Indians use RuPay they were serving the country as its transaction fees stay within India and could help build roads, schools, and hospitals. Nov 9, 2018
New Delhi airport

Delhi, Mumbai success spurs India plan to privatise six more airports

Experts expect a strong global response to the move as the aviation sector is poised for a major surge. Nov 9, 2018
india, forex reserves, rbi, fcnr deposits, rupee, us dollar, demonetisation, global uncertainty

Fed leaves rates unchanged, says US economy strong

Data released in late October showed the U.S. economy grew at a 3.5 percent annual rate in the third quarter. Nov 9, 2018
demonetisation raids karnataka corruption fraud notes banks bureaucrats raids income tax acb police bengaluru exchange commission nexus contractors

Demonetisation spurred Indian economy's digitisation but issues remain

Whatever the avowed objectives of the controversial demonetization, it did help the Digital India initiative. However, the weak internet infrastructure has affected the government efforts to bridge the digital divide. Nov 9, 2018
Manmohan Singh

Scars and wounds caused by demonetisation more visible with time: Manmohan Singh

Describing demonetisation as an "ill-fated" and "ill-thought" exercise, Singh said the havoc unleashed on the Indian economy and society is now evident to everyone. Nov 8, 2018
india, moody, lobbied, economy, modi, budget 2017

Moody's predicts slowdown in economic growth for India in 2019

The agency attributed the reason to the fall in the domestic demand on higher borrowing cost due to rising interest rates Nov 8, 2018
OPEC President Suhail Mohamed Al Mazrouei

In yet another U-turn, OPEC to consider cuts in oil production next year

The development has come at the backdrop of rising oil prices during the summers and political pressure from US President Donald Trump resulting in Saudi Arabia, Russia and other producers increasing the outputs. Nov 8, 2018
imran khan swearing-in

China fails to reveal if it offered financial aid to cash-starved Pakistan

A day after Khan's four-day China visit ended, Pakistan's Finance Minister Asad Umar said that Beijing has offered $6 billion loans Islamabad to resolve country's economic crisis. Nov 8, 2018
Arun Jaitley with Narendra Modi

Arun Jaitley takes on demonetisation critics; calls it a key step to formalise economy

Congress has launched a campaign using hashtag '#DestructionByDemonetisation'. And responding to the campaign, the BJP has started a Twitter war by using hashtag #CorruptCongressFearDemo. Nov 8, 2018
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