Economy

India's import of Russian oil drops in Nov to lowest level since June 2022

India became the second biggest buyer of Russian crude oil since Moscow invaded Ukraine in February 2022, with purchases rising from less than one per cent

Switzerland suspends MFN: What is the clause and its meaning for India?

Explained: What is the most favoured nation clause and why did Switzerland suspended it for India after the Nestle's 2023 Supreme Court ruling

Capex to be decided according to country's need, says MoS Finance

Chaudhary noted that there is a special focus from the Prime Minister, and all ministries have been directed to reach their capex targets by March

Nestle tax ruling fallout: Switzerland suspends MFN status to India

India signed DTCs with Lithuania and Colombia in 2011, under which it provided a withholding tax of 5 per cent to both countries

Less inequality can push growth, poverty alleviation in India: Piketty

Piketty advocated a wealth tax on Indian billionaires to finance social infrastructure

Public sector bank loan frauds: A 10% problem, but a 98% financial crisis

The finance ministry's ongoing efforts aim to strengthen fraud detection, improve the speed of investigations, and ensure accountability across the banking sector

Higher tax will drive capital away, says CEA V Anantha Nageswaran

Rejecting the idea of a "billionaire tax" suggested by noted economist Thomas Piketty, Nageswaran said, "Not all problems can be solved through fiat"

India's foreign exchange reserves decline to 5-month low of $654.8 billion

The RBI is expected to have sold net dollars worth $61.1 billion to protect the domestic currency

Economists expect 25-basis point rate cut by RBI MPC in February meeting

Nomura economists have suggested that they expect a 25 bps rate cut in February, marking a belated policy pivot, and 100 bps in total cuts in this easing cycle

CARE Ratings pares down India's FY25 GDP growth forecast to 6.5%

Sachin Gupta, chief rating officer at CARE Ratings, said that the first half of FY25 paints a picture of cautious optimism within India's corporate sector

As economy grows, Indian banks will have to expand dramatically: Kamath

Indian banks have a healthy return on equity (ROE) rate of 15 to 20 per cent, which is sufficient for the sector to grow and meet the capital requirements to 'bulk up'

Forex reserves drop by $3.23 bn to $654.85 bn for week ended on Dec 6

The forex reserves had increased to an all-time high of USD 704.885 billion in end-September

India crosses $1 trillion in FDI since 2000; Mauritius tops the list

India's cumulative FDI inflows have crossed $1 trillion since 2000, with Mauritius leading the pack, followed by Singapore, highlighting the country's growing appeal as a global investment hub

Indian billionaires: The rise of the few sparks concern about equality

The super-rich increasingly hold more of the national income; their wealth has grown by 263% to $905.6 bn in a decade

Parliamentary panel recommends increasing wages under MGNREGA

It suggested that the number of minimum guaranteed working days under the scheme be increased to 150 days and called for parity in wages that the states pay under MNREGA

RBI has a tough balancing act to do: Ficci's Harsha Vardhan Agarwal

Agarwal expresses confidence of pick up in private capex and opportunities arising out of US president-elect Donald Trump's tariff war

India lays stress on 'transition period' for European Union green norms

India-EU FTA was launched in June 2022. Nine rounds of negotiations have already taken place

India needs to ramp up structural reforms: World Bank Chief Economist Gill

Gill noted that middle-income countries, including India, are more prone to slowdowns compared to low-income or high-income countries

Rupee touches new intra-day low of 84.88 due to rise in crude prices

The local currency settled at 84.87 against the dollar on Wednesday

India must address challenges to unlock its FDI potential: Sanjay Nayar

Says reducing GST on essential goods can stimulate consumption