Economy

Datanomics: The collapse and return of Venezuela oil trade with India

Venezuela's return as a top crude supplier highlights how oil alone has shaped India-Venezuela trade, from a $14-billion peak to near-collapse and revival

Shipping Min to nudge for U-turn on SCI divestment amid maritime push

Cabinet nod needed to remerge Shipping Corp with land arm

India's forex reserves decline by $711 million in week ended June 5

India's foreign exchange reserves fell by $711 million to $681.61 billion in the week ended June 5, as a decline in foreign currency assets outweighed gains in gold reserves

Rupee appreciates beyond 95 briefly as dollar positions unwind on oil slide

The rupee appreciated sharply and government bond yields eased as lower crude oil prices and hopes of a US-Iran agreement improved investor sentiment

Retail inflation rises to 3.93% in May as food, transport costs increase

Retail inflation accelerated to 3.93 per cent in May, nearing the RBI's target, as higher food and transport costs offset the favourable base effect

Centre approves ₹531 crore aid for Rajasthan solar power providers

Global demand for Indian professionals is surging, with Australia, the UK, the US and the UAE ramping up hiring as competition for skilled talent intensifies

Govt bars bulk fuel purchases at retail outlets, caps diesel sales

The government has restricted industrial and commercial consumers from buying fuel at retail outlets and capped diesel sales to curb arbitrage and protect retail supplies

India reaffirms role in ILO-led coalition for social justice at Geneva meet

India participated in a Global Coalition for Social Justice meeting in Geneva, reaffirming its engagement with the ILO-led initiative on labour rights and social protection

Banks seek out wealthy Indian diaspora in $50 billion deposit drive

Indian banks are targeting overseas nationals with high-yield dollar deposits to attract over $50 billion and bolster forex reserves amid rupee pressure

India's edible oil imports rise 6.7% in May to 1.3 mn tonnes: Industry body

India's edible oil imports rose 6.7% in May, driven by higher crude soybean oil shipments as narrowing price gaps with palm oil boosted its competitiveness

May retail inflation marginally rises to 3.93%, food inflation at 4.78%

Food inflation rose to 4.78 per cent in May, pushing up overall price pressures; rural inflation accelerated to 4.25 per cent, remaining above urban inflation at 3.53 per cent

Govt offers retrospective tax relief for nuclear power equipment imports

The exemption covers specified goods imported for nuclear power generation under designated customs tariff categories

Govt may allow wider fiscal deficit to 4.8% of GDP amid Iran war: Report

India ships in about 90 per cent of ​its oil and is one of the countries most-exposed to prolonged Iran war-related ‌disruptions to global energy supplies

India's bond index journey: How India secured entry into global benchmarks

After securing entry into JPMorgan, Bloomberg EM and FTSE Russell indexes, India is now pushing for inclusion in Bloomberg's Global Aggregate Index

India sees $3 billion debt rush on yield slump after RBI measures

Indian firms are accelerating bond issuances as RBI measures to support the rupee drive borrowing costs lower and boost demand for corporate debt

Rupee snaps two-day rally as oil firms buy dollars, forwards mature

The domestic currency weakened against the dollar amid demand linked to forward maturities, oil company purchases and rising geopolitical tensions that boosted the greenback

PM Modi seeks time-bound goals for Viksit Bharat as global risks rise

PM Modi urged states to set 100-day and long-term targets for Viksit Bharat 2047, stressing energy self-reliance, skilling, AI readiness and better governance

Bank credit growth at near two-year high of 17.65% in May 31 fortnight

Credit growth accelerated sharply in the fortnight ended May 31, while deposit mobilisation remained slower, widening the credit-deposit growth gap to 544 basis points

Datanomics: Major tax receipts rose, but total mopup fell 2% in April

Despite growth in income tax, corporation tax and GST, a sharp fall in IGST and GST compensation cess dragged down April's overall central tax collections

States see slower FY27 start, capex utilisation at 1.85% in April

States made a slow start to FY27, with capital expenditure utilisation falling below 2 per cent in April despite higher budgeted infrastructure spending