Economy - general

Russian crude ships change course amid concerns over oil payments

02 Jan 2024

Several vessels transporting crude oil from Russia, previously idling off the coast of India, are now changing their course eastward, raising concerns about oil payments to Moscow and resulting in a decline in arrivals.

India’s forex reserves grow $58 bn year-to-date to $620.4 bn

31 Dec 2023

India's foreign exchange reserves increased by $57.63 billion year-to-date, taking overall forex reserves with the Reserve Bank of India (RBI) to $620.44 billion

Net financial assets of non-residents in India up $7.4 bn in Q2 FY24

31 Dec 2023

Net financial assets of non-residents in India increased by $7.4 billion to $380.9 billion in the second quarter of the current financial year (July-September 2023-24)

India’s core sector industrial production grows 7.8% in November

30 Dec 2023

Core sector industrial production in India increased by 7.8 per cent in November 2023 on the back of an increase in the production of steel, coal, petroleum products and electricity.

Consumer price inflation for industrial workers up at 4.98% in November

30 Dec 2023

Consumer price inflation based on the all-India consumer price index for industrial workers (CPI-IW) increased by 0.7 points and stood at 4.98 per cent

IMF projects India’s GDP growth at 6.3% in FY24-25

21 Dec 2023

The International Monetary Fund (IMF) has projected India’s real GDP to grow at 6.3 per cent in the current financial year (2023-24) and the next fiscal year (2024-25), supported by macroeconomic and financial stability.

India remains on top with $125 bn inward remittances

20 Dec 2023

India continues to be the largest recipient of overseas remittances, with inward flow of $125 billion in 2023, a 12.3 per cent surge

Net direct tax collections up 20.66% at Rs13,70,388 crore

19 Dec 2023

Net direct tax collections so far during the financial year 2023-24 (as of 17 December 2023) stood at Rs13,70,388 crore

India's wholesale price inflation rises for the first time in FY24; hits 0.26% in November

15 Dec 2023

The annual rate of inflation based on the wholesale price index (WPI – Base 2011-12 = 100) rose to an 8-month high of 0.26 per cent in November 2023, provisional figures released by the commerce ministry showed.

Consumer price inflation at 3-month high of 5.55% in November

14 Dec 2023

Consumer price inflation in India, based on the Consumer Price Index (CPI), rose to 5.55 per cent in November 2023 from 4.87 per cent in October as food prices stood higher, preliminary data released by the National Statistics Office (NSO) showed.

Indian economy to be world's third-largest by 2030: S&P report

08 Dec 2023

India is well on course to become the third-largest economy in the world by 2030, provided the country succeeds in seizing the 'immense opportunity' to become a major global manufacturing hub

The government allocates an additional Rs. 1,500 crore to the FAME-II program

04 Dec 2023

In a decisive move to bolster the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) program, the Centre has sanctioned an additional Rs. 1,500 crore for its second phase.

The Indian rupee strengthened by 11 paise to 83.29 against the US dollar

01 Dec 2023

In the early hours of Friday 1 December, 2023, trading session, the Indian rupee showcased resilience, appreciating by 11 paise to reach 83.29 against the US dollar.

The Indian rupee strengthened by 11 paise to 83.29 against the US dollar

01 Dec 2023

In the early hours of Friday 1 December, 2023, trading session, the Indian rupee showcased resilience, appreciating by 11 paise to reach 83.29 against the US dollar.

The Indian rupee strengthened by 11 paise to 83.29 against the US dollar

01 Dec 2023

In the early hours of Friday 1 December, 2023, trading session, the Indian rupee showcased resilience, appreciating by 11 paise to reach 83.29 against the US dollar.

Indian markets make history, surpassing the $4 trillion market cap milestone for the first time

29 Nov 2023

Indian markets soared to new heights on Wednesday, 29 November 2023, as they achieved the historic $4 trillion market cap milestone for the first time.

Consumer price inflation for agricultural and rural workers up at 7.08% and 6.92% in October

20 Nov 2023

Consumer price inflation for agricultural and rural workers, based on the all-India Consumer Price Index Number for Agricultural Labourers (Base: 1986-87=100) increased by 15 points and 14 points

Reports indicate that India is already a $4 trillion economy, but no official word yet

20 Nov 2023

The reports are based on GDP feed for all countries compiled by the International Monetary Fund and the Reserve Bank’s optimism that the domestic economy is in better shape.

Reports indicate that India is already a $4 trillion economy, but no official word yet

20 Nov 2023

The reports are based on GDP feed for all countries compiled by the International Monetary Fund and the Reserve Bank’s optimism that the domestic economy is in better shape.

High Court strikes down Haryana law on 75% job reservation for locals in private sector

18 Nov 2023

The Punjab and Haryana High Court on Friday quashed the Haryana State Employment of Local Candidates Act, 2020, that provided for 75 per cent reservation of jobs in private sector to persons domiciled in Haryana.

India’s wholesale price inflation higher at (-) 0.52% in October

14 Nov 2023

India’s wholesale price inflation based on the wholesale price index (WPI) for October 2023 stood at (-) 0.52 per cent in October 2023 against (-) 0.26 per cent registered in September 2023

India’s consumer price inflation down at 4.87% in October

14 Nov 2023

The annual rate of inflation based on the consumer price index (CPI) in India declined to 4.87 per cent in October 2023 from 5.02 per cent in September. The CPI inflation rate was at 7.56 per cent in September 2022.

Moody's issues 'negative' outlook for US credit amidst high interest rates

11 Nov 2023

Moody's Investors Service, a leading credit rating agency, revised its outlook on the United States government's debt from "stable" to "negative."

Government plans overhaul of SEZ Act, proposes reduction in tax incentives, and increased integration

09 Nov 2023

The government seems poised to refrain from introducing fresh direct tax incentives for businesses in special economic zones (SEZs).

The National Industry Quarterly report states 8.6% volume growth in the FMCG sector

08 Nov 2023

India's fast-moving consumer goods (FMCG) industry has experienced a significant uptick in growth during the July–September quarter of fiscal year 2024 (Q2 FY24).