Author: Economy

State Bank of India (SBI), as well as other top banks, has lowered interest rates on its FDs due to the coronavirus pandemic. FD deposits with the Post Office can also be an option for people to start apart from banks. SBI FD interest rates are applicable with effect from January 8 ‘); $ (‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]); […]

In the short-term, the US dollar has governed the direction of the commodity prices and that has been unfortunately downward, Lennox said Tapping into the mutual strengths of India, Israel and the UAE could propel the trilateral trade between the countries to a high of USD 110 billion by 2030, top diplomats and members of […]

Aviation turbine fuel (ATF) price was reduced by Rs 1,887 per kilolitre, or 3 per cent, to Rs 58,374.16 per kl in the national capital, according to a price notification of state-owned fuel retailers. PTI April 01, 2021 / 09:35 AM IST The company posts yet another loss in Q1 of FY19 due to high […]

As the new financial year begins, there will be a host of changes in how you spend money. From April 1 onwards, many new norms will be effective such as changes in airfare to standard insurance policies. From April, if employees’ contribution to provident fund exceeds Rs 2.5 lakh in a year, the interest earned […]

Reuters The Biden administration has alleged that US exporters continued to encounter significant tariff and non-tariff barriers that impede the imports of its products into India. In its annual 2021 National Trade Estimate Report on Foreign Trade Barriers, the US Trade Representative (USTR) said on Wednesday that while the Indian government pursued ongoing economic reform […]

Gig economy may be picking up pace in India, but its workers remain low skilled. The BCG Future of Work report showed that only 42 percent of Indian gig workers are employed in highly skilled freelancing roles in sectors such as IT, design and management. The rest of the gig workers are employed in areas […]

The pandemic-induced lockdowns disrupted the revenue streams of businesses around the world which led to an increase in leverage in corporate balance sheets and households. The pandemic-induced lockdowns disrupted the revenue streams of businesses around the world The International Monetary Fund (IMF) has warned that ‘highly expansionary monetary policy’ executed by central banks around the […]

Cotton Pakistan lifted a nearly two-year old ban on Indian sugar and cotton imports, government sources said, a step towards reviving suspended trade between the two nuclear-armed neighbours. Pakistan’s Economic Coordination Council, a top decision-making body, on Wednesday allowed the private sector to import 0.5 million tonnes of white sugar as Islamabad tries to keep soaring domestic prices in […]

The combined output of the eight core sector industries fell at the fastest pace in 6-months, contracting 4.6 percent in February, from a year ago, confirming fears that a recovery in industrial growth would be slower than expected. Core sector output had seen a slow but steady rise over the previous two months, rising by 0.9 percent in January. […]

Prime Minister Narendra Modi’s ‘Make in India’ drive has helped to turn India into the world’s second-biggest mobile manufacturer after China. (Reuters) India is offering more than $ 1 billion in cash to each semiconductor company that sets up manufacturing units in the country as it seeks to build on its smartphone assembly industry and […]

The ECC meeting was still ongoing, and was due to debate the import of sugar from India. Reuters March 31, 2021 / 03:17 PM IST Cotton Pakistan’s Economic Coordination Council, a top decision-making body, on Wednesday allowed the import of cotton, yarn and white sugar from India, sources said, a step towards reviving suspended trade […]

New income tax rules that come into effect from April 1. So let’s take a look at the changes announced in the Union Budget in February. Source: Shutterstock A slew of changes in the income tax rules had been announced by the Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2021. The new financial year […]

Representative Image India’s economy has bounced back amazingly from the COVID-19 pandemic and nationwide lockdown over the last year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country’s real GDP growth for fiscal year 21/22 could range from 7.5 to […]

Fuel prices today: While the price of petrol in Mumbai was Rs 96.98 per litre, the price of diesel in the financial hub dropped to Rs 87.96 per litre. Representative image (Image: Reuters) Retail fuel prices were slashed on March 30 for the first time in five days following a decline in international fuel prices. […]

The government is unlikely to take zero-coupon bond route to further recapitalise public sector banks after the Reserve Bank expressed some concerns in this regard, sources said. The government, they said, would resort back to recapitalisation bonds bearing a coupon rate for capital infusion in these banks. To save interest burden and ease the fiscal […]

Ram Singh Patel’s day starts at 6 in the morning, when he walks into his farmland tucked next to a railway line. For hours he toils on the farm, where he grows chili peppers, onions, garlic, tomatoes and papayas. Sometimes his wife, two sons and two daughters join him to lend a helping hand or […]

Public procurement of goods and services has crossed Rs 1 lakh crore from government buying portal GeM since the platform was launched in August 2016, on account of a sharp increase in buying activities by different ministries, a senior official said. The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases […]

Source: Reuters Amid uncertainty created by surge in coronavirus cases, the Reserve Bank of India (RBI) is likely to maintain status quo at its next monetary policy review and wait for some more time before taking any action to spur growth. The RBI is slated to announce its first bi-monthly monetary policy of the 2021-22 […]

Chief Economic Adviser Krishnamurthy V Subramanian. Asserting that the disinvestment target of Rs 1.75 lakh crore for 2021-22 was “imminently achievable”, Chief Economic Adviser (CEA) K V Subramanian on Saturday said the proposed initial public offering (IPO) by LIC itself could garner Rs 1 lakh crore for the government. He also said retail inflation targeting […]

India’s goods exports will stand at USD 290 billion for the financial year ending March, 7 per cent short of the shipments in the previous fiscal, Union Minister Piyush Goyal said on Friday. However, the minister said this was “great” considering the country has bounced back so quickly in a challenging year. India’s goods exports […]