Economy

In Delhi, the price of petrol stood at Rs 71.89 per litre and that of diesel at Rs 64.65 per litre on February 20 - the same levels as the previous day, according to Indian Oil Corporation (IOC). In Mumbai, the prices of petrol and diesel remained at Rs 77.56 per litre and Rs 67.75 per litre respectively.

The move was taken as small and marginal farmers do not have economic strength to apply production technology, services and marketing.

Petrol, Diesel Price Today: Currently, the prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis, and any revisions are implemented at fuel stations with effect from 6 am. Domestic prices of petrol and diesel are determined broadly by the global crude oil prices and the foreign exchange rates.

The minister of state for finance also assured that the interests of entrepreneurs paying taxes honestly will be protected.

Rice output in the world's biggest exporter and No. 2 producer is estimated to rise by 0.9 per cent to 117.47 million tonnes.

Some sectors, including pharma, textiles, electronics and hardware, and chemicals highlighted the challenges being faced by them as a result of the fast-spreading virus.

The coronavirus outbreak, which has now killed more than 1,800 people in China, has disrupted supplies of raw material to other countries.

During the latest results season, analysts lowered their Nifty earnings forecasts by 2.8 per cent for the fiscal year ending March 31 and 3.9 per cent for the following year, compared with downgrades of 10.5 per cent and 7.4 per cent in the previous reporting period, analysts led by Dhirendra Tiwari wrote in a note.

India received $26 billion FDI in the first six months of the financial year that started April 2019, up from $22 billion in the whole of the previous year, according to the industry department.

The fiscal math of the government will change significantly if it is able to recover Rs 1.20 lakh crore through AGR dues.

Some telecom firms are already struggling with mounting losses and debt and the additional liability has raised concerns of them defaulting on existing loans.

He said the fallout of the outbreak of novel coronavirus in China needs to be closely monitored by "every policymaker" to tailor a swift response.

Moody's said that two positive developments had raised the prospects of an incipient stabilisation of global growth this year: a truce in the US-China trade war with the signing of the "phase-one" trade deal in January, and nascent signs of a pickup in the industrial sector, which had been hurt by slower growth in China and trade tensions.

In December, the RBI announced a Fed-style 'Operation Twist' -- buying long-dated bonds and selling the shorter tenor ones.

India's economy has decelerated rapidly over the last two years and economic recovery will likely be shallow, Moody's Investors Service said.