Economy News

RBI governor Shaktikanta Das' MA History degree opens floodgates for Twitter memes

Netizens were quick to point out Das' highest educational degree was in M.A. History, unlike his predecessors who all had Ph.Ds in Economics.

Dec 12, 2018

Oil prices rise as OPEC-led supply cuts expected to stabilize markets

US West Texas Intermediate (WTI) crude futures were at $52.15 per barrel at 0023 GMT, up 1 per cent from their last settlement.

Dec 12, 2018

National Pension Scheme: Centre exempts tax on withdrawal

The mandatory contribution by the Central Government for employees that is covered under NPS has also been increased from the existing rate of 10% of salary to 14%.

Dec 11, 2018

156 NGOs face government's wrath for defying orders, stopped from receiving foreign funds

The latest order argued that in the investigations it was revealed that the associations have not yet opened their bank accounts in central government's Public Financial Management System (PFMS)-integrated banks.

Dec 11, 2018

Urjit Patel puts rumours to an end, steps down as RBI governor leaving Modi govt red-faced

"It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years," Patel said.

Dec 10, 2018

Global cues, political uncertainties suppress Indian equity indices

The key indices -- the S&P BSE Sensex and NSE Nifty50 - had a gap-down opening and subsequently shed over 600 points and 190 points or more than 1.60 per cent each.

Dec 10, 2018

IMF chief economist throws his weight behind Narendra Modi

Maurice Obstfeld, however, supports the RBI, saying the central bank's independence is a must for ensuring financial stability.

Dec 10, 2018

Bonds, rupee fall over mixed exit polls for PM Modi, rise in oil prices

The rupee fell to 71.41 to the dollar, weakest since November 20 and down from Friday's close of 70.80, while the 10-year benchmark bond yield rose to 7.50 percent from 7.46 percent.

Dec 10, 2018

Global stocks extend slump as global growth worries mount

Traders returned from the weekend to face a growing wall of worry, with the world's largest economies — the United States, China and Japan — all reporting weaker-than-expected data which pointed to moderating activity.

Dec 10, 2018

UK PM Theresa May expected to delay Brexit vote, demand better deal: Report

Theresa May's spokesman said on Friday the vote would go ahead next week despite calls from some lawmakers for a delay.

Dec 10, 2018

Election results, oil prices to direct equity indices movements

The results of Assembly elections in Rajasthan, Madhya Pradesh, Chattishgarh, Telangana and Mizoram will be declared on Tuesday.

Dec 9, 2018

FinMin extends deadline for filing GST annual returns till March 31

The annual returns form in which businesses registered under the GST have to provide consolidated details of sales, purchases and input tax credit (ITC) benefits accrued to them during 2017-18 fiscal was notified in September.

Dec 8, 2018

Who is Krishnamurthy Subramanian, India's newest Chief Economic Advisor

Subramanian will be taking over from Arvind Subramanian who stepped down from his post in June 2018.

Dec 7, 2018

OPEC will consider views of PM Modi seriously before cutting production: Saudi Oil Minister

India is the world's third largest oil consuming nation, which is more than 80 per cent dependent on imports to meet its energy needs. Led by Modi, it has been very strongly making a case for oil producers' cartel OPEC to price crude at reasonable and responsible rates.

Dec 7, 2018

Rupee falls 54 paise, touches 71 level against US dollar

At the Interbank Foreign Exchange, the rupee opened weak at Rs 70.82, then fell further to 71 against the American currency, down 54 paise over it's previous closing price.

Dec 6, 2018