Author: Economy

On February 26, Union Oil Minister Dharmendra Pradhan had said that the raging fuel prices will come down as the winter ends. Representative image: Reuters Retail fuel prices remained steady for the second consecutive day across the country after touching record highs on Saturday (February 27). The prices of petrol and diesel in New Delhi […]

“It will be a good move, but the decision rests with the GST Council,” Subramanian said during a recent interaction with FICCI FLO members. PTI February 28, 2021 / 01:35 PM IST (Representative Image) Chief Economic Advisor K V Subramanian has backed a proposal to bring petroleum products under the ambit of the Goods and […]

LPG The free LPG connection scheme is one structural reform of the Modi government that has been internationally acclaimed for ridding indoor household pollution and improving women”s health. And now, the government plans to give one crore more free LPG connections to the needy over the next two years and make it easier to access […]

Cotton Pakistan may allow cotton import from India through land route as prospects of gradual restoration of bilateral trade ties have brightened after the new ceasefire agreement along the Line of Control, according to a media report on Sunday. Citing sources in the Ministry of Commerce, The Express Tribune reported that Adviser to the Prime […]

Source:reuters Indians work longer than their global counterparts but earn one of the lowest minimum wages, an analysis of the data from the International Labour Organization (ILO) shows. On average, Indians work 48 hours a week, clocking longer hours than workers in only four countries—Gambia, Mongolia, Maldives, and Qatar (where a quarter of the population is Indian), a […]

The focus on increased spending on the infrastructure sector could have a multiplier effect on the economy. Yet, the fear of rising inflation could pose a dilemma to the Central Bank. Deepthi Mathew February 27, 2021 / 02:50 PM IST After two consecutive quarters of contraction, the Indian economy entered an expansionary path registering a […]

The prices of petrol and diesel in New Delhi stood at Rs 91.17 per litre and Rs 81.47 per litre, respectively, according to the Indian Oil Corporation Limited (IOCL). In Mumbai, the price of petrol is Rs 97.57 per litre. The price of diesel stood at Rs 88.60 per litre. petrol diesel price hike After […]

Stakeholders, including Indian Banks’ Association (IBA) had requested RBI to extend the deadline, which was to expire on February 26. The Reserve Bank of India has extended the deadline for submitting applications to set up a pan-India umbrella entity for retail payments similar to the National Payments Corporation of India (India). The new deadline is […]

India’s gross domestic product (GDP) in the third quarter of FY21 rose marginally at 0.4 percent, in line with expectations, reaffirming that the economy had managed to exit the coronavirus pandemic-led slump by 2020-end, according to official data released by the National Statistical Office on February 26. However, in FY21, the GDP is now expected to shrink […]

Ather Energy, India’s first intelligent electric vehicle manufacturer, unveiled its all-new electric vehicle manufacturing plant at Hosur, Tamil Nadu, spreading across 1,23,000 square feet. The company began operations from its mega-factory in Hosur from January 2, 2021. (Image: Ather Energy) Gross fixed capital formation (GFCF), a measure of investment demand in the economy, grew 2.6 […]

A downward trajectory in gross fixed capital formation would indicate that the fixed capacities are not being ramped up. Ather Energy, India’s first intelligent electric vehicle manufacturer, unveiled its all-new electric vehicle manufacturing plant at Hosur, Tamil Nadu, spreading across 1,23,000 square feet. The company began operations from its mega-factory in Hosur from January 2, […]

This comes after the central bank received several requests from various stakeholders including Indian Banks’ Association to extend the timeline. The Reserve Bank of India (RBI) has decided to extend the last date to apply for a National Umbrella Entity (NUE) licence from February 26 to March 31. This comes after the central bank received […]

The retail sector. Quite high too at 20.5 percent. Retail also happened to be the only sector which faced an increased attrition in 2020. This was due to the COVID-19 lockdown that led to stores across India shutting down for nearly three months. Employees quit their jobs and went back to their home towns. The […]

Union Road Transport and Highways Minister Nitin Gadkari. Union Minister Nitin Gadkari on Thursday asked automobile manufacturers to increase localisation of components to 100 percent or else the government will consider raising basic customs duty on imports in order to encourage domestic manufacturing of such parts. Speaking at an event organised by the Automotive Components […]

RBI Governor Shaktikanta Das (File image) Reserve Bank of India Governor Shaktikanta Das has observed that India was able to pull itself out of all previous pandemics within two years. “India has seen four such severe pandemics in the past and all these were followed by contraction and deceleration in the gross domestic product (GDP). […]

Economists predict that GDP growth will see marginal growth in the third quarter (October-December) of 2020-21 after contracting in the first half of the year due to the Covid-19 pandemic and national lockdowns, data for which is set to be released by the National Statistical Organisation (NSO) on Friday. India’s quarterly GDP growth has slid […]

Eris Lifesciences  | In last 1 year, the stock has gained 28 percent to Rs 564 as on February 19, 2021 from Rs 441 as of February 19, 2020. Profit margin for March 2020 quarter: 22.55 percent, June 2020 quarter: 30.36 percent, September 2020 quarter: 32.64 percent, and December 2020 quarter: 29.04 percent. The company’s promoters have increased their stake in the December quarter to 54.23 percent from 54.08 percent in the September […]

He, however, said both the centre and the state governments have their revenue pressures and they are required to spend high sums of money to enable the country and the people to come out of the COVID-19 pandemic stress. PTI February 25, 2021 / 04:18 PM IST Reserve Bank of India (RBI) Governor Shaktikanta Das […]

For current fiscal, the US-based rating agency expects the economy to contract 7 percent, lower than its previous estimate of 10.6 percent contraction. Moody’s on February 25 upped India’s growth projection for the next financial year beginning April 1, to 13.7 percent, from 10.8 percent estimated earlier, on the back of normalisation of activity and […]