Business
Restoring Inflation-Growth Balance Most Important Priority For RBI: Shaktikanta Das
MUMBAI: Restoring the inflation-growth balance is the most important task ahead for the Reserve Bank of India (RBI), outgoing Governor Shaktikanta Das said on the last day of his tenure while listing out some key issues for his successor, Sanjay Malhotra. “Restoring the inflation-growth balance is the most important...
Retail Inflation Likely Fell Sharply To 5.6 Per Cent In November
NEW DELHI: Retail inflation, based on the Consumer Price Index (CPI), likely fell to 5.6% in November from a 14-month high of 6.21% in October, according to the median of 17 estimates. The sharp decline in the headline print was mainly due to cooling food prices, specifically of vegetables....
India Pitches For Per Capita Subsidy Formula At WTO To Protect Poor Fishpeople
NEW DELHI: India has flagged the disparity between the high fisheries subsidies of $76,000 per fisher per year, given by developed countries as against $35 that New Delhi gives. At the World Trade Organization (WTO), India has proposed that disciplines to curb harmful subsidies should be based on a...
Budget 2025 May Take A Conservative Path, Peg Nominal Growth At 9.5%
NEW DELHI: The Centre may pencil in a conservative nominal gross domestic product (GDP) growth estimate of 9.5% or thereabouts in the budget for 2025-26, as it expects inflation to slow down next fiscal although economic activity would remain strong, people aware of early deliberations on the matter said....
Revenue Secretary Sanjay Malhotra Succeeds Shaktikanta Das As RBI Governor
NEW DELHI: The government on Monday appointed Union revenue secretary Sanjay Malhotra as the 26th governor of the Reserve Bank of India (RBI) for a three-year term starting December 11. The announcement by the Cabinet Committee of Appointments, came just a day before incumbent Shaktikanta Das’s extended six-year term...
Rajasthan Summit: Vedanta, Top Industrialists Announce Major Investments
JAIPUR: At the inaugural conclave of the Rising Rajasthan Global Investment Summit 2024 here on Monday, India’s leading industrialists announced their respective group’s investment plans for the state, including Vedanta Group Chairman Anil Agarwal committing Rs 1 trillion to augment zinc and oil production. The country’s top industrialists, with...
India, Australia Outline Path For Early Conclusion Of Comprehensive FTA
NEW DELHI: The department of commerce on Monday said that India and Australia have “outlined a path forward for the early conclusion” of the Comprehensive Economic Cooperation Agreement (CECA) between both nations. During a three-day stocktake meeting between both nations during 4-6 December, New Delhi and Canberra discussed several...
Blackstone Eyes $10 Billion For Third Asia PE Fund, To Bet Big On India
MUMBAI: Blackstone Inc, the world’s largest alternative asset manager, is aiming to raise $10 billion with its third Asia focused private equity fund, with a major portion allocated to India in 2025. “We are in the process of raising a third Asia focused fund – with the first close...
India’s Upstream Policy Overhaul, Windfall Tax Removal Likely To Draw In Global Oil Firms
NEW DELHI: India’s move to broaden the scope of its exploration policy beyond petroleum and natural gas while abolishing a windfall tax on domestically produced crude oil will likely draw in private and foreign entities to the upstream sector. The exploration and production (E&P) sector has witnessed an uneven...
ONGC May Hold Auctions To Pick Green Energy Project Developers
Oil and Natural Gas Corp (ONGC) is looking to hold auctions to select developers for building its planned 1.2 GW greenfield renewable energy projects, a senior company executive said. India’s largest oil and gas producer aims to hold two rounds of auctions, offering 600 MW in each, with the...
A Booming And Coal-Heavy Steel Sector Risks India’s Green Goals
India’s booming and coal-dependent steel industry means the country faces a “rocky and uncertain path” toward achieving its goal of reaching net zero by 2070, according to Global Energy Monitor. The country has the most steelmaking capacity under development in the world, surpassing even China, the climate research group...
India’s Steel Imports Take A Dip In November Even As Exports Stabilise At 0.4 MT
India’s steel exports stabilised in November in the 0.4 million tonne (mt) range in view, witnessing a 71 per cent y-o-y growth, because of a low-base effect (0.23 mt) and orders coming in from select European markets. This was the second straight month when exports rose y-o-y. Although range-bound...
India Gets Its Latest Multi-Role Stealth Frigate, Commissioned In Russia By Rajnath Singh
NEW DELHI: The country’s latest warship INS Tushil, the 3,900-tonne multi-role stealth frigate packed with weapons and sensors, was commissioned at Kaliningrad on Monday, with defence minister Rajnath Singh stating that not only will India and Russia further strengthen their extensive defence ties but also give priority to collaboration...
India Inflation Likely Fell In November On Moderating Vegetable Prices
BENGALURU: India retail inflation likely fell to 5.53% in November after breaching the central bank’s 6% upper tolerance band as the arrival of fresh produce to markets moderated soaring vegetable prices, a Reuters poll of economists found. The Reserve Bank of India held interest rates steady last week, as...
Monetary Policy Review: RBI Keeps Rates Unchanged, Cuts CRR By 50 Basis Points To 4%
MUMBAI: The Reserve Bank of India’s (RBI’s) six-member monetary policy committee (MPC) on Friday decided to keep the policy repo rate unchanged at 6.5 per cent — the status quo for an 11th straight time — maintaining a “neutral” stance. Even as it reduced the cash reserve ratio (CRR)...
Union Budget 2025-26: Economists Stress Need For Manufacturing Policy
NEW DELHI: The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday. Various suggestions were given to...
GDP Growth In Q3 To Make Up For Q2 Loss: Finance Minister
NEW DELHI: The growth slowdown in the second quarter of the current financial year was not systemic but the result of a lack of public investments during the first quarter, as the administration was busy with the general election, finance minister Nirmala Sitharaman said on Friday. The third-quarter gross...
Monthly Labour Surveys From March For Urban And Rural Areas
NEW DELHI: The statistics ministry is likely to release the first monthly unemployment surveys, for both rural and urban areas, in March-end, according to an official source. The surveys, officially known as the Periodic Labour Force Survey (PLFS), will depict unemployment scenarios across the country in urban and rural...
