Economy News

Why do Houthi strikes in Saudi Arabia make Nirmala Sitharaman sweat?

If oil becomes more expensive, the current economic downturn can snowball into a full-blown crisis. India has little headroom to cushion the inflationary impact as Trump has turned off cheaper Iranian oil supplies

Sep 16, 2019

Trump blames Iran for Saudi oil attack, says US defence 'locked and loaded'

Evidence from the attack, which hit the world's biggest oil-processing facility has indicated Iran's role, instead of the Yemeni Houthi group that had claimed responsibility.

Sep 16, 2019

For FM Nirmala Sitharaman, economic revival has already started

According to Sitharaman, "there is robust FDI inflows and record forex reserves. The fiscal deficit is improving and current account deficit is contained."

Sep 15, 2019

Nirmala Sitharaman announces Rs 50,000 crore scheme to boost exports

FM Nirmala Sitharaman said the revenue foregone towards the scheme is projected at Rs 50,000 crore.

Sep 14, 2019

Saudi Aramco keen to partner in mega West Coast Refinery project

In the wake of India's growing oil and energy needs, a mega refinery like the one on the west coast with an expected capacity of 60 mmtpa is vital.

Sep 13, 2019

Govt holding in select blue chip companies to fall below 51% under new divestment drive

The minimum government holding required for an entity to qualify as a central public sector enterprise (CPSE) is 51 per cent.

Sep 12, 2019

Modi govt's challenge now is to turn nationalism into an economic force

The economy was taken for granted in the last few quarters and the country was battered by many issues like non-performing assets, demonetization, implementation of GST and the recent NBFC crisis.

Sep 11, 2019

African nations to sell India minerals in return for infra projects in barter deal

In the early 2000s, India imported palm oil from Malaysia in exchange for building a railway line.

Sep 11, 2019

Automobile sector needs more than the GST band-aid to ward off a meltdown threat

With passenger vehicles sales skidding to worst in two decades and thousands of jobs at stake amid an economic slowdown, the government needs to take substantive measures; deliveries in August fell 41% year on year to 115,957 units.

Sep 10, 2019

Passenger vehicle sales plunge to the lowest since 1998

Industry sales have been on a downslide since the last 10 months due to a high GST rate and lack of adequate liquidity.

Sep 9, 2019

Centre sets up task force to identify infrastructure to be included in ₹100 trillion plan

The task force will be headed by the finance ministry's economic affairs secretary and will draw officials from government's policy think tank NITI aayog and other senior officials.

Sep 7, 2019

Slowdown will not hit social sector spending: Nirmala Sitharaman

The minister said the government was yet to take a call on how it would use the surplus reserve of Rs 1.76 lakh crore it has received from the Reserve Bank of India.

Sep 7, 2019

Good news for home, auto buyers: RBI makes external benchmark-based interest rate mandatory from Oct 1

The step is another attempt by the central bank to spur growth in the economy, which registered the slowest growth to a six-year low of 5 per cent in the April-June quarter.

Sep 5, 2019

What recession? Here's why investment guru Mark Mobius is bullish on investing in India

Mobius believes that India is going to benefit due to trade war between the world's two largest economies, China and the United States.

Sep 3, 2019

PSU banks lose on BSE post merger announcement

Earlier the government had also announced upfront capital infusion of Rs 70,000 crore into the public sectors banks.

Sep 3, 2019