This month’s hikes have erased all the reduction in fuel rates announced during the four revisions between March 24 and April 15. In the past four days, petrol has increased by 87 paisa per litre and diesel by ₹1 in New Delhi
India was on the recovery path after two successive quarters of de-growth last year. The GDP had contracted by a massive 23.9 per cent in the June quarter following the national lockdown and by 7.5 per cent during the September quarter. India thereafter stepped out of recession, with the GDP growing 0.4 per cent in the December quarter
Byju's, India’s third largest unicorn, is all set to raise about $150 million from multinational Swiss bank, UBS Group AG, which will scale up the ed-tech pioneer's valuation to about $16.5 billion making it the country’s most valuable start-up.
“India’s growth rate will rise sharply this year and moderate in 2022. Growth is forecast at 11 per cent in 2021 before settling at 7 per cent in 2022. The strong recovery is being driven by an economy normalising from last year’s deep contraction — and this will be backed by a large COVID-19 vaccine rollout,” ADB said in its flagship Asian Development Outlook 2021
“This morning, when I met with secretaries, the mood and also the way in which we have planned out for disinvestment, setting up a DFI [Development Finance Institution], looking at the Asset Reconstruction Company – everything is on course. In fact, the message from secretaries was that we are going as it was before and therefore we don’t suspect that that will be affected. In fact, even if there were one or two centres where lockdowns were to happen, they may not affect our disinvestment programme, or the plan to set up DFI or any other institutional reforms that we have announced”
In a major fillip to the Chennai-Kanyakumari Industrial Corridor (CKIC), the Asian Development Bank has approved a $484 million loan to improve transport connectivity and road maintenance.
The CKIC is part of India’s East Coast Economic Corridor, which stretches from West Bengal to Tamil Nadu and connects India to the production networks of Sout...
Pointing out that India has been using immunity boosting methods for ages and that these have become more relevant in times of COVID, the government suggested that people consumer more protein-rich food, good fats, and dark chocolate to keep anxiety at bay
The Sensex crashed over 1,300 points in early trade on Monday (April 19), tracking massive across-the-board selloff as mounting COVID-19 cases spooked investor sentiment.
The 30-share BSE index fell to 1,318.21 points, or 2.70 per cent lower, at 47,513.82, before recovering, trading 1.8% per cent around 2pm. Similarly, the broader NSE Nifty tank...
Global lender Citibank’s exit from the consumer banking business of India, besides 12 other geographies, presents a great opportunity for other smaller banks to occupy a space that gives an opportunity to expand credit cards, deposit accounts, wealth management and mortgage portfolio.
The sharp surge in Covid cases and the initiatives taken by India to thwart the second wave of the pandemic may pose a risk to Moody’s Investors Services’ growth projection of 13.7 per cent for FY22 for the country, said a Mint report on Tuesday (April 13) quoting the global rating agency.
Coimbatore: With the second wave of COVID-19 sweeping across various parts of Tamil Nadu, some of the industrialists in the State are apprehensive of migrant workers leaving for their hometowns considering the health conditions.
The industries recovered from the jolt of the first wave of coronavirus when over one lakh migrant workers from both Coimbatore an...
The provisional figures mark a departure from a gloomy scenario late last year. In the April-September 2020 period, gross tax collection had fallen by 27.5 per cent to ₹7.2 lakh crore compared to ₹9.2 lakh crore a year ago. The budget target for direct tax collection in the 2020 financial year was ₹13.2 lakh crore, and till September, barely 24 per cent of that target was achieved. These tax collection targets were fixed in January without factoring in the COVID-19 impact on the economy
E-commerce giant Amazon has moved the Supreme Court against the Delhi High Court’s division bench order that allowed Kishore Biyani-promoted Future Group to proceed with its ₹24,713 crore asset sale deal with Reliance Industries Ltd, Mint reported.
Future Group had announced the ₹24,713 crore deal to sell its retail and wholesale assets to Relia...
India now boasts of being home to the world’s third largest number of billionaires after the US and China while Reliance Industries Chairman has dethroned Chinese business tycoon Jack Ma to be the richest man in Asia, a new list released by the Forbes magazine said.
Amazon CEO and founder Jeff Bezos has yet again topped Forbes’ 35th annual list ...
Mumbai: The Reserve Bank of India (RBI) on Wednesday kept key interest rates unchanged at record lows while pledging to buy ₹1 lakh crore of government bonds this quarter to cap borrowing costs in a bid to support an economy facing a resurgence of the pandemic.
In the first monetary policy of the 2021-22 fiscal, the central bank stuck to its accommodati...
The collapse of Greensill Capital last month has been one of the most spectacular financial disasters of recent years. It has sent shockwaves around the world. It has also enmeshed a business tycoon and a former prime minister of Britain, David Cameron, in a global scandal.
The government on Thursday (April 1) said the gross GST revenue collected in March this year has hit a record of ₹1,23,902 crore. Out of that amount CGST is ₹22,973 crore, SGST is ₹29,329 crore, IGST is ₹62,842 crore (including ₹31,097 crore collected on import of goods) and cess is ₹8,757 crore (including ₹935 crore collected on import of goods).
Washington: India’s economy has bounced back amazingly from the COVID-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to 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 12.5 per cent.
The Washington-based global len...
Civil Aviation Minister Hardeep Puri said on Saturday (March 27) that Air India will be “100% disinvested” or “closed down”, leaving no room for doubt about the Centre’s intentions about the future of the national carrier.
Although a detailed copy of the verdict is awaited, a three-judge bench headed by Chief Justice SA Bobde set aside the entire December 2019 order of the NCLAT. “All questions of law are in favour of Tata Group,” the judges said
According to a report in Bloomberg, there has been a massive boom in the number of 20- and 30-year-old millennials who have turned to stock trading during the pandemic. Many of these day traders are first timers, driven by a combination of COVID-induced boredom and the ease of trading provided by numerous new online platforms, the agency reported
BJP MP Sushil Kumar Modi on Wednesday said that it is not possible to bring petrol and diesel under the GST regime for the next eight to 10 years as it would trigger an annual revenue loss of ₹2 lakh crore to all states.
“If petrol or diesel would be brought under the Goods and Services Tax (GST) regime then how would the loss of ₹2 lakh crore r...
While India is still struggling to undo the job losses suffered during the pandemic lockdown last year, another outbreak of the virus followed by the imposition of more restrictions will be unbearable, despite having a first-hand experience of the crisis, say central bankers.