Economy

Committee Formed For Exploring Cryptocurrency As Legal Tender: Anurag Thakur

Committee Formed For Exploring Cryptocurrency As Legal Tender: Anurag Thakur

ANI | Saturday March 06, 2021

Minister of State for Finance Anurag Thakur said that a High-Level Inter-Ministerial Committee was constituted by the government to accept cryptocurrency as a lawful and legal tender in India

India To Appeal Arbitration Ruling In $1.3 Billion Tax Dispute With Cairn

India To Appeal Arbitration Ruling In $1.3 Billion Tax Dispute With Cairn

Reuters | Friday March 05, 2021

In December, an arbitration body awarded the British firm damages of $1.2 billion plus interest and costs, after ruling India had breached its obligations to Cairn under the U.K.-India Bilateral Investment Treaty

Government Says OPEC+ Decision To Hit Economic Recovery

Government Says OPEC+ Decision To Hit Economic Recovery

Reuters | Friday March 05, 2021

Rising oil prices are posing fiscal challenges for India, where heavily-taxed retail fuel prices have touched record highs in some parts of the country.

At $67.54 Billion, India Attracted Highest Ever FDI In First Nine Months Of A Fiscal

At $67.54 Billion, India Attracted Highest Ever FDI In First Nine Months Of A Fiscal

Edited by Nikita Prasad (With inputs from Agencies) | Thursday March 04, 2021

The total FDI amount was 22 per cent higher as compared to $ 55.14 billion received in the first ninth months of 2019-20, according to data released by the Ministry of Commerce

Government Asks OPEC+ To Fulfill Promise Of Price Stability: Oil Minister

Government Asks OPEC+ To Fulfill Promise Of Price Stability: Oil Minister

Reuters | Thursday March 04, 2021

Oil prices have recovered from last year's price crash spurred by the pandemic, helped by production cuts by the OPEC+ group.

Steel Exports To Remain Low Amid Rising Domestic Demand: Rating Agency

Steel Exports To Remain Low Amid Rising Domestic Demand: Rating Agency

Edited by Nikita Prasad (With inputs from Agencies) | Wednesday March 03, 2021

The finished steel exports in January 2021 totaled 0.58 million tonnes, down six per cent month-on-month and 16 per cent year-on-year as producers focused more on domestic sales

Services Growth At One-Year High On Boom In Domestic Demand

Services Growth At One-Year High On Boom In Domestic Demand

Reuters | Wednesday March 03, 2021

Asia's third largest economy came out of a technical recession and expanded 0.4 per cent annually last quarter.

Imports Rise 7% To $40.55 Billion In February, Trade Deficit Widens To $12.88 Billion

Imports Rise 7% To $40.55 Billion In February, Trade Deficit Widens To $12.88 Billion

Edited by Nikita Prasad (With inputs from Agencies) | Tuesday March 02, 2021

India was a net importer in February 2021 with a trade deficit of $12.88 billion, as compared to a trade deficit of $10.16 billion in the corresponding month last year, improving by 26.74 per cent

GST Collections Crossed Rs 1 Lakh Crore Mark For Fifth Month In A Row

GST Collections Crossed Rs 1 Lakh Crore Mark For Fifth Month In A Row

Press Trust of India | Monday March 01, 2021

GST collections, which directly reflect the state of economic activity, had plummeted to a record low of Rs 32,172 crore in April 2020, after the government imposed a nationwide lockdown to curb the spread of coronavirus

Manufacturing Sector Records Growth For 7th Month, Momentum To Continue: Report

Manufacturing Sector Records Growth For 7th Month, Momentum To Continue: Report

Edited by Nikita Prasad | Monday March 01, 2021

The manufacturing sector has registered growth over the past six months and the PMI has shown activity recovery gathering steam.

Petrol Sales Increased 1.5% Last Month, Diesel Sales Fell 5.3%: Report

Petrol Sales Increased 1.5% Last Month, Diesel Sales Fell 5.3%: Report

Reuters | Monday March 01, 2021

State fuel retailers sold 2.22 million tonnes of gasoline and 5.81 million tonnes of diesel last month, the data provided by an industry source showed

Manufacturing Activity Ease In February; Firms Upbeat On Demand: Survey

Manufacturing Activity Ease In February; Firms Upbeat On Demand: Survey

Press Trust of India | Monday March 01, 2021

The seasonally-adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell marginally to 57.5 in February from 57.7 in January.

Chief Economic Advisor Backs Proposal To Bring Petrol Under GST

Chief Economic Advisor Backs Proposal To Bring Petrol Under GST

Press Trust of India | Sunday February 28, 2021

Chief Economic Advisor K V Subramanian, however, said the decision will have to be taken by the GST council.

Petrol, Diesel Prices Raised After A Pause Of Three Days On Saturday

Petrol, Diesel Prices Raised After A Pause Of Three Days On Saturday

Edited by Abhishek Vasudev | Saturday February 27, 2021

Prices of petrol and diesel were increased across the four metros in the country after a pause three days on Saturday.

Agriculture, Industrial Sectors Accelerate As India Posts 0.4% Growth In December Quarter

Agriculture, Industrial Sectors Accelerate As India Posts 0.4% Growth In December Quarter

Edited by Nikita Prasad (With inputs from Agencies) | Friday February 26, 2021

The agriculture and industrial sectors witnessed growth in the October-December quarter of the current fiscal, while the contact intensive services sectors registered de-growth