India’s Bharat Petroleum Corp plans to shut its 156,000 barrels-per-day (bpd) Bina refinery in central India for about a month in June for maintenance, two sources familiar with the plan…
Category: Economy
After India, China gives financing assurances to Sri Lanka for IMF bailout package
China has given debt-ridden Sri Lanka the financing assurances required by the IMF to unlock a USD 2.9 billion bailout package for the country, days after India strongly backed the…
ICICI-Videocon loan fraud case: Bombay High Court grants interim bail to Venugopal Dhoot
The Bombay High Court has granted interim bail to Videocon Group Chairman Venugopal Dhoot in the ICICI-Videocon loan fraud case. He will be out of judicial custody provided he furnishes…
Govt in advanced talks with industry for setting up international aviation hub in India, says Jyotiraditya Scindia
The government is seriously pursuing its target of establishing an international aviation hub in India and was already in advanced talks with a couple of Indian carriers and an airport…
eRupee cannot be converted into cash for now: Report
The central bank digital currency (CBDC) or the eRupee cannot be, currently, converted into cash and vice versa. eRupee will be issued against bank deposits only by the Reserve Bank…
RBI cautions states against reverting to old pension scheme
The Reserve Bank has sounded a note of caution on reversion to the old pension scheme by some states, saying it poses a major risk on the “subnational fiscal horizon”…
India cuts windfall tax on crude, export taxes on aviation fuel and diesel
India has cut its windfall tax on crude oil and exports of aviation turbine fuel (ATF) and diesel, according to a government notification dated Jan. 16. It cut its windfall…
India’s exports in December 2022 dipped by 12.2%; trade deficit at $23.76 bn
India’s merchandise trade deficit in December was largely flat at $23.76 billion compared with $23.89 billion in the previous month, according to a Reuters calculation based on export and import…
88% of India’s ultra-wealthy individuals saw increase in wealth in 2022 despite global crises: Knight Frank’s Wealth Report
Nine out of 10 ultra-high-net-worth individuals in India multiplied their wealth in 2022 much faster than their global counterparts, despite the global cost-of-living crisis and other factors, according to a…
India’s December WPI inflation eases to 4.95%
India’s annual wholesale price-based inflation (WPI) eased in December to 4.95% year-on-year as against 5.85% in November, government data showed on Monday. The reading was lower than the Reuters forecast…