Economy News

India's plan to develop key Iranian port faces U.S. headwinds

India committed $500 million to speed development of the port after sanctions on Iran were lifted following a deal struck between major powers and Tehran to curb its nuclear program in 2015. But not a single tender has been awarded for supplying equipment like cranes and forklifts.

Jun 10, 2017

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India takes US to World Trade Organization for failing to drop steel duties

The non-compliance complaint, effectively a new trade dispute, could lead to India asking to impose trade sanctions if the United States is found not to have complied.

Jun 9, 2017

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India's foreign exchange reserves hit fresh high; list of top countries with high forex holdings

For the week ended June 2, India's foreign exchange reserves rose $2.4 billion, according to RBI data.

Jun 9, 2017

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Retail inflation likely to drop further for May, factory output for April likely to fall sharply: Nirmal Bang

Factory output (IIP) is expected to fall to 1.2 percent for April while retail inflation would come at 2.3 percent for May, says Nirmal Bang economist.

Jun 9, 2017

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Five takeaways from Supreme Court order on linking Aadhaar with PAN

In a partial relief, the Supreme Court held that not linking PAN with Aadhaar will not lead to criminal consequences.

Jun 9, 2017

Wages of indecision: Govt yet to fix MGNREGA pay

In spite of a committee's recommendation to bring in change when it comes to calculating wages under MGNREGA, the central government has failed to hike the salaries in real terms.

Jun 9, 2017

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India signs OECD convention to prevent tax evasion

The agreement was signed by Union Finance Minister Arun Jaitley, who is on a four-day visit to France to participate in the OECD meetings.

Jun 8, 2017

Sun Pharma founder Dilip Shanghvi's net worth takes a $14 billion nose dive in 2 years

Sun Pharma founder Dilip Shanghvi was once India's richest person and now his net worth stands at $11.1 billion on the Bloomberg Billionaire Index.

Jun 8, 2017

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Petrol, diesel prices to change daily from June 16

Daily price scheme for petrol and diesel has been in force in select cities since May 1, this will now be extended across India from next Friday.

Jun 8, 2017

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Rates on hold, RBI sharply cuts inflation forecasts

Marking a first, the decision was not unanimous, with a 5-1 vote.

Jun 8, 2017

RBI's monetary policy reflects new realities

Policy rate kept unchanged, inflation projection lowered at the second monetary policy meeting of the MPC that ended on Wednesday.

Jun 8, 2017

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India to extend $9-bn export credit to Korea; Iranian and Indian capital market regulators ink deal

The agreement will be signed when finance minister Arun Jaitley visits Korea for the Annual Financial Bilateral Dialogue on June 14-15, 2017.

Jun 7, 2017

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RBI voices concern over farm loan waiver again; BofA Merrill Lynch says write-offs could reach $40 billion by 2019

Uttar Pradesh waived farm loans worth Rs 36,000 crore while Maharashtra also intends to write off agri loans of about Rs 30,000 crore, raising alarm in RBI.

Jun 7, 2017

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7th Pay Commission: Ashok Lavasa report on allowances was not part of Wednesday's agenda, says report

The Union Cabinet did not take up the issue of raising HRA and other allowances of Central government employees as proposed by the pay commission.

Jun 7, 2017

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RBI leaves repo rate unchanged at 6.25%, revises FY2018 growth rate downwards to 7.3% [Watch Urjit Patel's media interaction]

The Monetary Policy Committee meeting of the RBI retains repo rate at 6.25 percent and estimates GVA for 2017-18 at 7.3 percent.

Jun 7, 2017

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Economy News

India's plan to develop key Iranian port faces U.S. headwinds

India takes US to World Trade Organization for failing to drop steel duties

India's foreign exchange reserves hit fresh high; list of top countries with high forex holdings

Retail inflation likely to drop further for May, factory output for April likely to fall sharply: Nirmal Bang

Five takeaways from Supreme Court order on linking Aadhaar with PAN

Wages of indecision: Govt yet to fix MGNREGA pay

India signs OECD convention to prevent tax evasion

Sun Pharma founder Dilip Shanghvi's net worth takes a $14 billion nose dive in 2 years

Petrol, diesel prices to change daily from June 16

Rates on hold, RBI sharply cuts inflation forecasts

RBI's monetary policy reflects new realities

India to extend $9-bn export credit to Korea; Iranian and Indian capital market regulators ink deal

RBI voices concern over farm loan waiver again; BofA Merrill Lynch says write-offs could reach $40 billion by 2019

7th Pay Commission: Ashok Lavasa report on allowances was not part of Wednesday's agenda, says report

RBI leaves repo rate unchanged at 6.25%, revises FY2018 growth rate downwards to 7.3% [Watch Urjit Patel's media interaction]

'Officer wasn't intimidated by Khan..': SRK stops for security check, shows passport before entering airport premise; fans react

'I wouldn't be slogging... ': Orry reveals he is not paid Rs 20-30 lakhs for taking selfies with celebs; says 'it was an exaggeration'

Koffee with Karan: Kajol calls Ajay Devgn "better half", herself "better looking half"; Rani Mukerji, Karan stumped

'Incredible stand towards sustainability': Suhana lauds Alia Bhatt for repeating her wedding saree, urges youth to re-wear outfits; trolled

For the first time, Kamal Haasan to play a negative character