Business
India’s Imports Of Russian Oil Hit 10-Month High In May
NEW DELHI: India’s imports of Russian crude oil surged to a 10-month high of 1.96 million barrels per day in May, driven by continued availability at significant discounts compared to global benchmark prices, according to ship-tracking data from Kpler. India, the world’s third largest oil importing and consuming nation,...
Global Economic Uncertainty Not To Affect Indian Banks’ Asset Quality: Moody’s
Despite global uncertainties and trade tensions, asset quality of Indian banks is expected to remain steady as domestic economic conditions remain supportive for growth, global rating agency Moody’s said in a report on Tuesday. “Government capital expenditure, tax cuts for middle-class income groups to boost consumption and monetary easing...
India Should Open Way For Developing Nations: WTO
PARIS: While acknowledging unprecedented disruption of multilateral trading system, WTO chief Ngozi Okonjo-Iweala on Tuesday raised the issue of China-backed investment facilitation. While India is opposing this, Okonjo-Iweala wants New Delhi to support the move. “We spoke about issues of reform, about issues that India is interested in, like...
Manufacturing PMI Drops To Three Month Low Of 57.6 In May
NEW DELHI: India’s manufacturing activity highlighted the weakest improvement in operating conditions since February with the seasonally adjusted HSBC India Manufacturing Purchasing Managers Index (PMI) falling from 58.2 in April to 57.6 in May. The headline figure was nevertheless well above both the neutral mark of 50.0 and its...
Marginal Adverse Impact On Vegetable Crop From Early Monsoon, May Rains
NEW DELHI: The early arrival of the southwest monsoon coupled with hugely surplus rains month in Maharashtra, Karnataka and Gujarat last month has had a marginal adverse impact on the horticultural crops such as onion and tomato. But overall horticulture production being robust, the agriculture-sector value addition in the...
Thermal Power Investments On The Upswing After Long Torpor
NEW DELHI: A renewed push to thermal power seems to have finally ended sluggishness in the sector. While the pace of construction has accelerated for a clutch of units including ultra super critical ones, state-run NTPC and leading private players such as Adani Power, Tata Power have scaled up...
State-Run General Insurers May Need Rs 17,000-Crore Capital To Meet Solvency Norms In FY26: ICRA
The three public sector general insurers, excluding New India Assurance, may require a capital infusion of Rs 15,200-17,000 crore by March 2026 to meet the regulatory solvency ratio of 1.50x, given their weak profitability, according to Icra. The solvency ratio measures an insurer’s ability to meet its long-term obligations...
Free Trade Pact With Oman Soon: Piyush Goyal
NEW DELHI: The negotiations on the free trade agreement (FTA) between India and Oman could be concluded very soon, Commerce and Industry Minister Piyush Goyal said on Monday. “I think you will see some good news very soon on the Oman FTA,” the minister told reporters here when asked...
ADB Announces $10 Billion Plan To Transform India’s Urban Infra, Services
NEW DELHI: Asian Development Bank (ADB) President Masato Kanda has announced a five-year plan to mobilise up to $10 billion, including third-party capital, to enhance the India’s urban infrastructure and services. The plan was unveiled after Kanda’s meeting with Prime Minister Narendra Modi. The plan will focus on metro...
RBI Expected To Deliver Rate Cut On Friday: Experts
MUMBAI: The Reserve Bank is likely to go for a third consecutive rate cut of 25 basis points on Friday as inflation continues to remain below the median target of four per cent, to push growth amid continued global uncertainty triggered by the US tariff moves. Reserve Bank’s rate-setting...
Singapore Remains India’s Largest FDI Source For Seventh Straight Fiscal
NEW DELHI: Singapore continued to be India’s largest source of foreign direct investment (FDI) for the last seven years, as the country received the highest inflows of about $15 billion in 2024-25. The overseas inflow grew 13 per cent to $50 billion in the last fiscal. The total FDI,...
Government Slashes APM Gas Price For First Time In Two Years
NEW DELHI: For the first time in two years, the government has reduced the price of natural gas used for producing CNG for vehicles and cooking gas, reflecting a decline in benchmark rates. The price of natural gas from legacy fields allocated to state-owned ONGC without auction has been...
Underlying Weakness May Be Behind Surge In Outbound FDI
MUMBAI: India’s outbound investments jumped 75% to $29.2 billion in FY25, while foreign firms repatriated a massive $51 billion from the country. Yet, gross foreign direct investment (FDI) in the last fiscal saw a satisfactory growth of 14% to $81 billion, including equity inflows exceeding $50 billion. So, there...
India Likely To Become 4th Largest Economy In FY26
NEW DELHI: India is likely to become the world’s fourth largest economy in the current fiscal on the back of its projected record-beating growth rate of 6.3-6.8 per cent that would help it overtake Japan. India recorded a growth of 6.5 per cent for the financial year ended March...
Centre Manages To Meet 4.8 Per Cent Fiscal Deficit For FY25
NEW DELHI: The central government managed to meet the fiscal deficit target of 4.8 per cent of the GDP for 2024-25, according to the provisional data released by the Controller General of Accounts on Friday. In the revised estimates (RE) presented to Parliament in February, the government had pegged...
Consumption Picks Up In FY25 On Rural Demand, Shows NSO Data
NEW DELHI: Growth in the private final consumption expenditure (PFCE), which is taken as a proxy for consumption demand in the economy, outpaced gross domestic product (GDP) growth in 2024-25 (FY25), even as the consumption demand slowed to a five-quarter low in the fourth quarter (Q4) of the financial...
National Manufacturing Mission To Be Unveiled In A Month: NITI CEO
NEW DELHI: The National Manufacturing Mission, expected to be unveiled within a month, will include a dedicated body with the requisite “teeth” to address emerging challenges in a time-bound manner and elevate India’s manufacturing sector, NITI Aayog CEO BVR Subrahmanyam said on Friday. In the Union Budget FY26, the...
RBI Eyes Bank-Like Rate Norms For NBFCs To Plug Policy Gaps
MUMBAI: RBI is looking to introduce interest rate rules for non-banking finance companies similar to those that govern banks. The goal is to improve how changes in monetary policy pass through to borrowers and to make loan pricing more transparent. As of now, when RBI changes its benchmark repo...
