Economy News

India's foreign exchange reserves hit an all-time high of $360 billion

The reserves stood at $359.75 billion in the week ended April 1, up from the earlier historic high of $355.94 billion.

Apr 8, 2016

India to woo UAE investors in Dubai

India, the world's fastest-growing economy, will participate in a three-day investment event in Dubai commencing April 11.

Apr 8, 2016

India probing $4.5 billion coal import scam

The Indian finance ministry is investigating alleged over-invoicing of coal imports by about 40 companies.

Apr 8, 2016

Fed’s Janet Yellen says US still on track for more rate hikes

The US economy is on a solid course and still on track to warrant further interest rate hikes, Federal Reserve Chair Janet Yellen said on 7 April.

Apr 8, 2016

Panama Papers: Finance Minister Arun Jaitley warns illegal account holders

Arun Jaitley said that each account was being analysed and illegal account holders "won't get sleep at night," PTI reported.

Apr 8, 2016

Asian shares drop as banks come under pressure, yen soars

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent.

Apr 8, 2016

Income tax department launches 3 more ITRs for e-filing

The IT Department is streamlining filing of income tax returns online, even as it seeks more disclosure of assets from high-net-worth individuals.

Apr 7, 2016

Indian Oil will spend Rs. 20,000 crore for its Gujarat refinery expansion

The company plans to expand its Gujarat refinery's capacity to 18 million tonnes per annum (MTPA) from the present 13.7 MTPA.

Apr 7, 2016

India revamps crude oil import policy

The new policy would allow state-run oil refiners to plan their own policies to buy cheaper oil cargoes and improve profitability.

Apr 6, 2016

India's coal import bill down Rs. 28,000 crore in FY16

The government has planned to double the coal output to one billion tonnes by 2019-2020.

Apr 6, 2016

India's services PMI at 21-month high in March

Both manufacturing and services output have remained conveniently expansionary the past month, according to the Nikkei India Composite PMI Output Index.

Apr 6, 2016

India's steel imports up 18% in March, snap 4 months of decline

Imports are, however, likely to decline again in April and May.

Apr 6, 2016

Deposit rates, not repo rate, to decide bankers' further course of action

With deposit growth at the lowest since 1963, bankers would find it really difficult to cut lending rates.

Apr 6, 2016

Israel looks forward to PM Narendra Modi's visit, says visiting Israeli minister

Israeli Agriculture Minister Uri Ariel spoke about Indian Prime Minister Narendra Modi's likely visit during his media interaction Tuesday.

Apr 6, 2016

Andhra Pradesh eyes investments in tourism worth Rs. 20,000 crore

The state has taken up multiple initiatives and aims to become the most preferred tourist destination in the country.

Apr 6, 2016