Economy News

Sitharaman's statement on servicing oil bonds 'astonishing': Congress

A day after Finance Minister Nirmala Sitharaman ruled out any cut in excise duty on fuel, as of now, since the previous UPA government had reduced fuel prices by issuing oil bonds of Rs 1.44 lakh crore, senior Congress leader and former Finance Minister P. Chidambaram hit out, terming her statement "astonishing" and "incredible ignorance".

Aug 18, 2021

Taliban takeover worries dry fruit traders in India, to impact bilateral trade

Afghan exports to India include dried raisins, walnut, almond, fig, pine nut, pistachios, dried apricot, and fresh fruits such as apricot, cherry, watermelon, and medicinal herbs, which will be heavily impacted after the takeover of Taliban

Aug 18, 2021

Australia is increasingly becoming a strategic partner, it is time for economic relations to keep pace

Why Australia and India are natural partners; now more than ever [explained]

Given the present geopolitical scenario, India and Australia are fast emerging to be natural partners. Meanwhile, an important event that got only a limited attention in the media was the last visit of former Australian Prime Minister Tony Abbott to India. In this piece, we explore how.

Aug 17, 2021

Banks face Rs.10K fine if their ATMs fail to dispense cash for more than 10 hrs

In huge relief for the common man, the Reserve Bank of India (RBI) has decided to charge penalties on banks for non-availability of cash in ATMs.

Aug 11, 2021

For a change, Oppn to support amendment to OBC Bill in Lok Sabha, here's why

The opposition parties on Monday decided to support the Constitution Amendment to the OBC Bill, which is scheduled to be introduced in the Lok Sabha.

Aug 9, 2021

The RBI leaves key interest rates unchanged at 4%; Maintains protective shield for recovery

The Reserve Bank of India kept its key short-term lending rates unchanged to protect the fledgling economic recovery. The central bank's Monetary Policy Committee (MPC) unanimously opted to keep the repo rate, or short-term lending rate, for commercial banks at 4%

Aug 6, 2021

After reaching a new high, the Sensex sheds gains

The leading Indian equities indices gave up gains on Thursday after hitting new highs during the first trading. Analysts believe that investors took profit after the surge.

Aug 5, 2021

Sensex jumps 400 points and crosses 54K for the first time

At the very first time On Wednesday morning, the leading Indian equity indices rose, with the BSE Sensex crossing the 54,000-mark. HDFC, ICICI Bank, and Tata Steel were the biggest gainers on the Sensex.

Aug 4, 2021

Markets: FPIs continue to exit in July, net withdrawal at Rs 11,308 crore

Foreign portfolio investors (FPIs) withdrew Rs 11,308 crore in net investments from Indian equities. The outflow follows a net FPI investment of Rs 17,215 crore in June.

Aug 2, 2021

India's 8 core industries' June production up 8.9%

Low base effect, along with easing of Covid 2.0 restrictions, boosted the output of India's eight major industries in June on a year-on-year basis.

Jul 31, 2021

UK court declares Vijay Mallya as "bankrupt"; clears way for SBI-led banks to freeze his assets

The UK court order clears the way for the consortium of banks led by the State Bank of India (SBI) to initiate freezing of his assets

Jul 27, 2021

China trying to paint dark outlook for Indian economy

The mouthpiece is known to have a pessimistic view of India and recently faulted India's manufacturing sector.

Jul 25, 2021

CBDT grants further relaxation in e-filing of I Tax Forms [details here]

The Electronic Submission of Form 15CA/15CB is required by the Income Tax Act of 1961. Before sending the copy to an authorised dealer for an international transfer, be sure it's in good condition. Until August 15, taxpayers can submit the aforementioned Forms in manual style to authorised dealers.

Jul 20, 2021

Fish didn't survive, exports dipped; how Chennai's Kolathur market suffered amid pandemic [details]

Difficulty in accessing fish fodder during lockdown meant the fish in their ponds couldn't survive, while reduced turnover and dip in exports means the traders can barely put food on their table.

Jul 14, 2021

Industrial output grows on year-over-year basis in May; production growth slower [details]

India's industrial output increased by 29.3% year over year due to a low base effect. The various sorts of lockdowns enforced during 2020 and 2021 have an impact on YoY and sequential growth rate changes.

Jul 13, 2021

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