Page 8 - Economy

₹2,250 cr infusion may be enough for Axis Fin's growth needs for 3.5 years

Axis Finance's Rs 2,250-crore capital infusion from Axis Bank and Kedaara Capital is expected to support the NBFC's growth and delay upper-layer classification

India's Russian oil supply likely to be hit if US waiver not extended

Under the latest US waiver, countries have been allowed to purchase Russian crude oil and petroleum products until May 16 that were loaded onto vessels on or before April 17

India's foreign exchange reserves rise by $6.29 bn on higher gold reserves

India's foreign exchange reserves increased to $696.99 billion in the week ended May 8, led by a sharp rise in gold reserves, according to RBI data

Modi's UAE visit secures $5 bn investments, key energy and defence pacts

India and the UAE signed multiple agreements on energy, defence, shipbuilding and AI cooperation, alongside investment commitments worth $5 billion

India's April unemployment rate increases to 5.2%, shows govt data

A Reuters poll had projected the April unemployment rate at 5.2%

April WPI hits 8.3%: Will rising wholesale pressure drive retail inflation?

India's wholesale inflation hit 8.3% in April, driven by fuel prices. While retail inflation remains lower at 3.48%, rising supply-chain costs may soon push consumer prices higher

US team to visit India next month for trade talks; dates not finalised

India and the US issued a joint statement on February 7 finalising a framework for an interim trade agreement regarding reciprocal and mutually beneficial trade

India's goods exports robust in Apr despite supply chain disruption

Merchandise imports also grew 10 per cent to $71.94 billion in the first month of the financial year

India's exports rise 13% to $43 bn in April, trade deficit at $28 bn

Imports from the region dipped 31.64 per cent to $10.47 billion in April from $15.32 billion in the year-ago period

Austerity and symbolism: Matching intent with action amid crises

Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows

Indian OMCs source crude at competitive rates in March amid Iran war

March crude procurement costs for Indian OMCs remained steady year-on-year in dollar terms and rose only slightly from February, despite the West Asia conflict

From crude to pump: How petrol is priced in India and who gets what share

Petrol and diesel prices are rising again amid the West Asia crisis. Here's how fuel prices are calculated in India and who earns what from every litre sold at the pump

After Mumbai, CNG prices hiked in Delhi by ₹2 amid fuel supply concerns

CNG in the national capital will now cost ₹79.09 per kg, up from ₹77.09, while in Mumbai, the fuel is now priced at ₹84 per kg

OMCs hike petrol, diesel prices in four metros amid West Asia crisis

Petrol in the national capital will now cost ₹97.77 per litre, up from ₹94.77, while diesel will be priced at ₹90.67 per litre, compared with ₹87.67 earlier

Regulators, officials keep close watch on heightened geopolitical frictions

Says, it will keep a close watch on the emerging situation

India to invest over $20 bn in offshore energy mapping: Hardeep Singh Puri

The state-run upstream companies have invested over $0.5 billion in seismic data acquisition in the last eight years

FinMin confident of coping with West Asia crisis with adequate fiscal room

The Centre says fiscal prudence and timely interventions have helped India cushion the economic fallout of the prolonged West Asia conflict

Energy cost spike pushes wholesale inflation to 8.3%, a 42-month high

Sharp rise in fuel and energy prices amid the West Asia crisis pushes wholesale inflation to its highest level since October 2022

Datanomics: India's informal sector wages below minimum benchmarks

ASUSE data shows informal sector earnings remain below minimum wage levels, with own-account and mobile enterprises continuing to dominate

IFAD looking to make 3-4 direct investments in India in next one year: AVP

IFAD's AVP Donal Brown said that the funding agency is now increasingly looking to fund 3-4 direct investments in the private sector over the next year