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Thursday, February 9, 2023
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Economy

Petrol, diesel prices rise for 7th day in a row, rates go up by about half a rupee

Petrol price in Delhi was hiked to Rs 75.16 per litre from Rs 74.57, while diesel rates were increased to Rs 73.39 a litre from Rs 72.81.

IIP contracts by record 55% in April due to lockdown, but Modi govt says data not comparable

The data showed manufacturing contracted by 64 per cent in April, followed by mining at 27 per cent and electricity by 26 per cent.

India could see millions pushed into extreme poverty due to pandemic: World Bank analysis

South Asia may see 42 mn people being pushed into extreme poverty, according to World Bank analysis, as the pandemic leads to longer shutdowns, increase in costs.

25-30% of bank loans under moratorium but only small portion of these expected to turn NPAs

Banks are relying on a pick-up in economic activity amid unlock phase and borrower profiles to expect that majority of loans under moratorium won’t turn bad.

What to watch in Pakistan’s budget today after its economy shrunk for first time in 68 yrs

Pakistan’s budget, due to be presented in Parliament Friday, will be a tough balancing act of reviving economic growth without depleting the coffers.

Mahindra loses trade case filed by Fiat Chrysler for ‘copying’ Jeep model

The International Trade Commission upheld a judge’s finding that Mahindra’s off-road vehicle Roxor is a copy of the iconic Jeep Wrangler.

Covid shows India needs economic model focused on people at bottom of pyramid, report says

India needs to reorient its economic structure to make it much more people-centric & inclusive, think-tanks CEEW and NIPFP say in a report.

Decline in 2020-21 output part of Modi govt’s working assumption: CEA Subramanian

In April, Modi govt had estimated that India may grow by 1.5-2%. But that was based on assumption of V-shaped recovery in second half of the year, says CEA Krishnamurthy Subramanian.

India’s fundamentals demand much better rating, says Chief Economic Advisor

Chief Economic Advisor Krishnamurthy Subramanian statement came after Moody's downgraded India's rating and S&P retained it at the lowest investment grade.

Indians are shopping only for essentials even though economy is reopening

Consumption, which accounts for 60% of the economy, has been the driver of growth during previous stress periods, but a survey shows consumers are no longer confident.

On Camera

YourTurn

FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song

US ‘shaking up’ Marine Corps shows its laser focus on China....

The iCET agreement goes the whole hog in joint cooperation between US and India. But there is a greater need to focus on how the defence budget is spent.
Representative Image | ANI

‘Need to see a decisive moderation in inflation’: RBI Governor on...

While overall inflation is moderating, high and persistent core inflation remains a worry, as does the uncertain global growth & inflation environment, the governor said.

Defence

File photo of the Chinese spy balloon which was later shot down by the US | Reuters

China has spy balloons, India has aerostats. But IAF’s had mixed...

After Kargil Review Committee's recommendation, air force purchased 2 aerostats worth over Rs 300 crore for surveillance in 2007. IAF favours AWACS for vigilance operations.
Illustration by Soham Sen | ThePrint

Market has won & now it’s for Adani to decide whether...

If the political establishment responds to a situation like this as if it’s something that must only play out between a corporate & the market, it's coming of age of Indian capitalism.