Economy

The new fund will focus on major infrastructure projects and look for partners who are willing to take long-term risks, said NIIF CEO Sujoy Bose.

While crude oil prices jumped after the outcome of the much-awaited meeting of major petroleum producers last week, analysts say global oil markets would remain tight this year. But the question is: where are petroleum prices - and domestic petrol and diesel rates - headed?

During June 1-June 20, cumulative monsoon rainfall for the country was 7 per cent below LPA (long-period average), according to IMD. Monsoon rainfall was 9 per cent lower than normal in the central regions of the country, data showed.

Central India and the north Indian plains are likely to get some relief in terms of monsoon in the next two to three days, according to the IMD.

While markets have already priced in one rate hike in the months ahead, further hikes could put a damper on growth RBI inflation growth

Last month, India had given a list of products to the WTO that it said could incur higher tariffs.

Arvind Subramanian conceptualised JAM (Jan Dhan, Aadhar, Mobile) as a data base for availing public benefits.

Although inflation has stayed above the RBI's target of 4 per cent for seven months running, upcoming seasonal monsoon rains and the rupee, which has weakened over 6 per cent this year, could determine its path ahead.

As per estimates, every rupee cut in excise duty on petrol and diesel will result in a revenue loss of about Rs 13,000 crore.

Fiscal deficit stood at 3.53% of the GDP, broadly in line with the government's revised estimates for 2017-18.

The southwest monsoon arrived in Kerala on May 29, three days ahead of its normal onset and, over the past a few days, it has battered parts of the western coast and the northeast.

Merchandise exports last month rose to $28.86 billion from a year ago, while imports rose 14.85 percent on year to $43.48 billion

The annual wholesale inflation for the month of May rose by 4.43% as compared to 3.18% in April.

The Fed's move was widely expected but still marked a milestone in the US central bank's shift from policies used to battle the 2007-2009 financial crisis and recession.

In the financial account, net foreign direct investment (FDI) at $6.4 billion in Q4 of 2017-18 was higher than $5 billion in Q4 of 2016-17.