Economy

Despite Elevated Indian Crude Oil Basket Price, Excise Duty Cut On Fuel

Despite Elevated Indian Crude Oil Basket Price, Excise Duty Cut On Fuel

Reported by Himanshu Shekhar Mishra, Edited by Animesh Singh | Sunday May 22, 2022

The average price of crude oil (Indian basket) in May so far (till May 19) has remained high at $107.26 per barrel

Government To Give Additional Fertiliser Subsidy To Farmers In 2022-23

Government To Give Additional Fertiliser Subsidy To Farmers In 2022-23

Press Trust of India | Sunday May 22, 2022, New Delhi

Government's total fertiliser subsidy is likely to touch a record Rs 2.15 lakh crore in 2022-23

Export Duty On Iron Ore Hiked Up To 50% To Increase Domestic Availability

Export Duty On Iron Ore Hiked Up To 50% To Increase Domestic Availability

Press Trust of India | Sunday May 22, 2022, ​ New Delhi

To facilitate greater domestic availability, the duty on exports of iron ore has been hiked by up to 50 per cent by the Government

Ujjwala Yojana Beneficiaries To Get Subsidy Of Rs 200 On Cooking Gas Cylinders

Ujjwala Yojana Beneficiaries To Get Subsidy Of Rs 200 On Cooking Gas Cylinders

Edited by Animesh Singh | Sunday May 22, 2022

More than 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana will now get a subsidy of Rs 200 per gas cylinder (for up to 12 cylinders)

Nirmala Sitharaman Urges States To Reduce VAT On Fuel After Excise Duty Cut

Nirmala Sitharaman Urges States To Reduce VAT On Fuel After Excise Duty Cut

Edited by Animesh Singh | Saturday May 21, 2022

Finance Minister urged all state governments, especially those which had not reduced excise duty on November 4, 2021, to also implement a similar cut

CNG Prices Raised By Rs 2 Per Kg In Delhi, 13th Hike In Over 60 Days

CNG Prices Raised By Rs 2 Per Kg In Delhi, 13th Hike In Over 60 Days

Press Trust of India | Saturday May 21, 2022, New Delhi

The price of compressed natural gas (CNG) in Delhi on Saturday was hiked by Rs 2 per kg, the 13th increase in rates in just over two months

Retail Inflation For Agricultural, Rural Labourers Rose In April

Retail Inflation For Agricultural, Rural Labourers Rose In April

Edited by Animesh Singh | Saturday May 21, 2022

Retail inflation for agricultural and rural labourers rose in April due to increase in food prices

India's April Crude Oil Buy At More Than 3-Year High

India's April Crude Oil Buy At More Than 3-Year High

Reuters | Saturday May 21, 2022

India's April crude oil imports were the highest in three and a half years as it ramped up discounted Russian oil purchases

RBI To Pay Rs 30,307 Crore Dividend To Government For 2021-22

RBI To Pay Rs 30,307 Crore Dividend To Government For 2021-22

Press Trust of India | Friday May 20, 2022, Mumbai

Reserve Bank of India (RBI) on Friday said its board has approved a dividend payment of Rs 30,307 crore to the government for the financial ended March 2022.

Inflation Crimps Indian Firms As Consumers Plan To Cut Spending

Inflation Crimps Indian Firms As Consumers Plan To Cut Spending

Reuters | Friday May 20, 2022, New Delhi

Surging inflation is forcing many poor Indians to rein in spending, threatening a slowdown for companies such as Godrej Appliances which saw bumper sales as recently as March and April after a brutal heatwave spiked demand for its cooling products.

Rate Hikes Need To Be Front-Loaded, Say Two MPC Members: RBI Minutes

Rate Hikes Need To Be Front-Loaded, Say Two MPC Members: RBI Minutes

Reuters | Thursday May 19, 2022

The sharp surge in inflation in India will require front-loading of interest rate increases, two members of the central bank's Monetary Policy Committee (MPC) said in minutes of its May 4 meeting released on Wednesday.

Off-Cycle Rate Hike Done To Avoid Stronger Move In June: RBI Governor

Off-Cycle Rate Hike Done To Avoid Stronger Move In June: RBI Governor

Press Trust of India | Thursday May 19, 2022, Mumbai

Waiting for the scheduled monetary policy meet in June would have meant losing time and opting for a stronger action, RBI Governor Shaktikanta Das told members of the MPC before they unanimously decided to go for an off-cycle hike in interest rate on May 4.

Unfair To Say RBI Behind The Curve In Hiking Rate: Former Governor

Unfair To Say RBI Behind The Curve In Hiking Rate: Former Governor

Press Trust of India | Wednesday May 18, 2022, New Delhi

The criticism that the Reserve Bank of India was behind the curve in hiking interest rate to tame rising inflation is unfair, former RBI Governor D Subbarao said on Wednesday and asserted that it is difficult for any central bank to anticipate the future more accurately.

S&P Cuts India's Economic Growth Forecast To 7.3% For 2022-23

S&P Cuts India's Economic Growth Forecast To 7.3% For 2022-23

Press Trust of India | Wednesday May 18, 2022, New Delhi

S&P Global Ratings on Wednesday cut India's growth projection for the current fiscal to 7.3 per cent from 7.8 per cent earlier on rising inflation and the longer-than-expected Russia-Ukraine conflict.

Centre Surpasses 2021-22 Target Of Monetisation Plan With Transactions Worth Rs 1 Lakh Crore

Centre Surpasses 2021-22 Target Of Monetisation Plan With Transactions Worth Rs 1 Lakh Crore

Press Trust of India | Tuesday May 17, 2022, New Delhi

The government has completed transactions worth Rs 1 lakh crore under the National Monetisation Pipeline (NMP) in 2021-22, surpassing the ambitious programme's first-year target of Rs 88,000 crore, Niti Aayog CEO Amitabh Kant said on Tuesday.