DDIndia Business: Economic Headlines & Updates

Business

December 2, 2024 10:11 PM

Government to update GDP base year to 2022-23

The Government of India has announced its decision to revise the base year for the calculation of Gross Domestic Product (GDP) from 2011-12 to 2022-23, marking a significant update to the country’s national accounting framework. An Advisory Commit...

December 2, 2024 9:12 PM

India’s manufacturing PMI dips to 56.5 in November but remains in expansion zone

India's manufacturing sector showcased resilience in November despite mounting cost pressures and fierce competition. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) stood at 56.5, slipping from October's 57.5 and ma...

December 2, 2024 7:00 PM

Govt withdraws windfall tax on ATF, crude, petrol, and diesel, easing burden on oil companies

The government on Monday announced the withdrawal of the windfall tax on Aviation Turbine Fuel (ATF), crude oil, petrol, and diesel through a notification introduced in the Lok Sabha. The decision comes as a major relief for oil companies like Relia...

December 2, 2024 6:35 PM

India’s organic food products export reaches $448 Mn, set to surpass last year’s figures

India's organic food products export reached $447.73 million in the first eight months of this fiscal (FY25) and is on track to surpass last year's total export of $494.80 million, the Parliament was informed on Monday. In a written reply to the Lok...

December 2, 2024 5:56 PM

Markets rally amid positive cues; Sensex, Nifty surge ahead

India's benchmark indices closed higher on Monday, recovering from a subdued start. Both benchmark indices posted notable gains, reflecting strong investor sentiment The Sensex rose by 445.29 points (0.56%) to settle at 80,248.08, while the Ni...

December 2, 2024 5:45 PM

Global south not to blame for environmental damage: Piyush Goyal

Commerce and Industry Minister Piyush Goyal, speaking at the inaugural session of the CII Partnership Summit 2024, on Monday, said that the Global South is not responsible for the environmental damage caused by the exploitation of low-cost energy by ...

December 2, 2024 3:41 PM

AIF investments in India at Rs 4.49 lakh crore in H1 FY25, real estate dominates: report

India attracted approximately Rs 4.5 lakh crore in Alternative Investment Funds (AIFs) during the first half (H1) of the 2024-25 financial year, driven by strong economic growth among large economies. According to the latest SEBI data compiled by AN...

December 2, 2024 2:14 PM

Sharp GDP rebound expected driven by private capex, agri growth, buoyant consumption

India’s Q2 GDP growth saw a temporary slowdown due to seasonal monsoon effects and election-related factors. However, industry experts expect a sharp rebound in the January-March quarter (Q4) of FY25, signaling renewed economic vigor. For equity m...

December 2, 2024 11:23 AM

Sensex, Nifty fall as lower GDP numbers weigh on investor sentiment

India’s benchmark indices were subdued on Monday after the release of lower-than-expected GDP figures on Friday. The Nifty 50 opened with a modest gain of 9 points at 24,140, while the Sensex dropped 58 points, starting at 79,743.87. By 9:42 am, ...

December 2, 2024 9:33 AM

UNCCD COP16 opens today with India set to showcase landmark Green Project

The United Nations Convention to Combat Desertification's sixteenth Conference of Parties (COP16) is beginning today in Riyadh, Saudi Arabia, marking the first time West Asia hosts this crucial environmental conference. India will join representative...