Economy News

India's GDP grows at 7.9% in March quarter

For full financial year 2015-2016, the country registered a GDP growth rate of 7.6 percent. Agriculture and mining industry were the key drivers of growth this quarter.

May 31, 2016

India is a lower-middle economy, below other BRICS countries: World Bank

The World Bank ranking classifies countries on the basis of gross national income.

May 31, 2016

PF withdrawals up to Rs. 50,000 won't be subject to TDS from June 1

The limit on PF withdrawals has been hiked from the existing Rs. 30,000, according to a government notification.

May 31, 2016

US oil prices rise on start of summer driving season

Demand in North America is set to pick up along with the official start of the U.S. summer driving season this week.

May 31, 2016

India set to retain fastest growing economy tag

Narendra Modi's policies are having some success as cooling inflation and lower interest rates have boosted consumer demand.

May 31, 2016

Future of Asia Conference: India poised to lead global growth over next decade, says former Singapore PM

Goh Chok Tong said as China is slowing, India is the engine of the world growth.

May 30, 2016

Uber, Ola cabs cannot ply in Karnataka without licence

Taxi aggregators such as Ola and Uber will now have to compulsorily secure a licence from the Karnataka government to operate in the state.

May 30, 2016

Gold slides to three-month low as dollar soars after Yellen comments

U.S. Federal Reserve chief Janet Yellen had said the central bank could raise interest rates in the coming months.

May 30, 2016

Chidambaram comes to the defence of Rajan, wonders whether Modi govt 'deserves' him

Former finance minister P Chidambaram spoke in defence of RBI chief Raghuram Rajan in the wake of Subramanian Swamy's attacks on him.

May 28, 2016

FM Arun Jaitley to woo Japanese investors during 6-day visit

On a six-day visit from Sunday to Japan, Finance Minister Arun Jaitley will meet Japanese Prime Minister Shinzō Abe and prominent Japanese CEOs.

May 28, 2016

Oil slips for second day as $50 level sparks new output fears

A three-day weekend for the United States, owing to Monday's Memorial Day holiday, further discouraged investors from holding bullish bets.

May 28, 2016

Yellen says Fed rate hike likely appropriate in coming months

Although Yellen expressed caution about too steep a rise in U.S. rates, she sounded more confident than she has in the past.

May 28, 2016

Bad loans of State Bank of India, Punjab National Bank, Bank of Baroda and ICICI Bank now at a staggering $18.5 billion

The net NPAs of SBI, PNB, Bank of Baroda and ICICI Bank have spiked over 100 percent from $8.56 billion at the end of FY2015.

May 27, 2016

Shinzo Abe may delay sales tax hike by 2 years: Media

Abe would likely announce the delay in sales tax hike as early as June 1, when the current parliament session closes.

May 27, 2016

Brexit would be serious risk to global economic growth: G7 leaders

Brexit was listed alongside geopolitical conflicts, terrorism and refugee flows as a potential shock of a "non-economic origin".

May 27, 2016