Economy News

India Petrol fuel consumption petrol station fuel station

Fuel consumption in India rose to 8-year high in FY16

The spurt was caused mainly by a fall in average retail prices of petrol, diesel and jet fuel, mirroring falling crude oil prices globally.

Apr 18, 2016

India demands larger say for developing countries in World Bank agencies

Speaking at the World Bank Development Committee Meeting, Arun Jaitley said the World Bank Group should expand its annual lending to $100 billion.

Apr 18, 2016

IAF charts out Rs. 2.5 lakh crore modernisation plan

The Indigenisation Roadmap for 2016-2025 would detail services and technologies that the IAF requires and share them with the private sector.

Apr 18, 2016

Income tax arrears tax collection tax filing PAN

India expediting efforts to collect $117 billion in tax arrears

However, only about 15-20 percent of $117 billion is "realistically" recoverable, Reuters reported, citing a tax department official.

Apr 18, 2016

Oil freeze deal faces trouble as Saudi-Iran tensions spike

Saudi Arabia said it wanted all OPEC members to participate in the talks, despite insisting on excluding Iran because Tehran had refused to freeze production.

Apr 17, 2016

Railways in the dock over Rs. 300 crore service tax evasion

Revenue authorities have asked the railways to share income details about tatkal services, ticket cancellation and bed roll charges.

Apr 17, 2016

BRICS bank sanctions Rs. 1,666 crore to Canara Bank for energy projects

The New Development Bank disbursed its first package of loans worth $811 million to Brazil, China, South Africa and India.

Apr 17, 2016

Saudi Arabia could sell off billions in American assets if bill passes: NYT

The bill, which passed the Senate Judiciary Committee earlier this year, would take away immunity from foreign governments in cases.

Apr 17, 2016

World Bank: India received $69 billion in remittance in 2015

Growth of remittances to South Asia witnessed a drop of 2.3 percentage points in 2015 primarily due to a contraction in flows to India.

Apr 16, 2016

RBI Governor Raghuram Rajan hints at more rate cuts

In an interview with WSJ, Raghuram Rajan said the cuts would depend on further easing of inflation and a good monsoon.

Apr 16, 2016

Foreign exchange reserves hit new high of $359.91 billion

India's foreign exchange reserves stood at a new high of $359.91 billion in the week ended April 8, 2016, according to RBI.

Apr 16, 2016

Oil falls as investors expect little from Doha meeting

All eyes are on Doha as producers meet on Sunday to discuss freezing output around current levels.

Apr 16, 2016

Petrol price cheaper by 74 paise, diesel by Rs. 1.30

The revised rates will be effective from Friday midnight.

Apr 15, 2016

Sagarmala project to save logistics costs, create 1 crore jobs

The unification of India's 150 port projects through modernisation would boost merchandise exports to $110 billion by 2025.

Apr 15, 2016

Indian Defence Ministry may give projects worth Rs. 50,000 crore to Shipping Ministry

The move aims to offer private shipyards a chance to work on the projects by awarding them contracts through shipping ministry.

Apr 15, 2016

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Economy News

Fuel consumption in India rose to 8-year high in FY16

India demands larger say for developing countries in World Bank agencies

IAF charts out Rs. 2.5 lakh crore modernisation plan

India expediting efforts to collect $117 billion in tax arrears

Oil freeze deal faces trouble as Saudi-Iran tensions spike

Railways in the dock over Rs. 300 crore service tax evasion

BRICS bank sanctions Rs. 1,666 crore to Canara Bank for energy projects

Saudi Arabia could sell off billions in American assets if bill passes: NYT

World Bank: India received $69 billion in remittance in 2015

RBI Governor Raghuram Rajan hints at more rate cuts

Foreign exchange reserves hit new high of $359.91 billion

Oil falls as investors expect little from Doha meeting

Petrol price cheaper by 74 paise, diesel by Rs. 1.30

Sagarmala project to save logistics costs, create 1 crore jobs

Indian Defence Ministry may give projects worth Rs. 50,000 crore to Shipping Ministry

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