DDIndia Business: Economic Headlines & Updates

Business

December 27, 2023 5:24 PM

Sensex, Nifty hit all-time highs amid global rally

India's benchmark indices surged to new heights on Wednesday, propelled by a global rally fueled by renewed optimism that the U.S. central bank would initiate rate cuts as early as March next year. The Sensex jumped 701.63 points or 0.98%, settling ...

December 27, 2023 8:51 AM

RBI releases a draft- ‘Licensing Framework for Authorised Persons’ under FEMA

The Reserve Bank of India (RBI) has released a draft- 'Licensing Framework for Authorised Persons (APs)' under Foreign Exchange Management Act (FEMA), 1999. According to RBI release, the focus of the draft norms is on rationalising the authorisation...

December 27, 2023 8:43 AM

Revving Up for Success: India and Oman set to sign free trade agreement

The ongoing negotiations for the proposed free trade agreement (FTA) between India and Oman are progressing rapidly and the agreement is expected to be signed next month, according to a senior government official. This FTA is likely to benefit variou...

December 26, 2023 8:25 PM

TCIL presents Rs 14.20 cr. dividend to government for FY 2022-23

Telecommunications Consultants India Ltd (TCIL) has recently disbursed a dividend of Rs 14.20 crore to the government, marking another successful financial year. The Chairman & Managing Director, Sanjeev Kumar, handed over the dividend cheque to ...

December 22, 2023 3:19 PM

Commercial LPG cylinder prices slashed by Rs 39.50 in New Year relief

Oil Marketing Companies (OMCs) have slashed the prices of 19 kg LPG cylinders by Rs 39.50 across major metropolitan cities, bringing a potential sigh of relief for commercial users such as hotels and restaurants. The revised rates came into effect o...

December 22, 2023 12:28 PM

India extends import duty reduction for edible oils to March 2025

India will allow the import of edible oils at lower import tax rates until March 2025, according to a government order, as the world's biggest importer of vegetable oil moves to keep a lid on local prices. The lower import duty structure on crude pa...

December 21, 2023 3:09 PM

Defence ministry inks Rs.1614 crore deal with Mazagon Dockyard Shipbuilders for 6 offshore patrol vessels

In a significant stride towards fortifying the nation's maritime defense, the Ministry of Defence has inked a pivotal contract with Mazagon Dockyard Shipbuilders Ltd (MDL), Mumbai. The deal, finalised on December 20, 2023, marks the procurement of...

December 19, 2023 10:43 PM

India star performer, contributing more than 16% of global growth: IMF

The IMF released its annual Article IV consultation with India on Monday, noting the country's status as one of the fastest-growing major economies globally this year, thanks to prudent macroeconomic policies. India's robust growth, propelled by refo...

December 19, 2023 12:15 PM

India’s UPI transactions soar, reflecting digital payment revolution

India has witnessed an exceptional surge in Unified Payments Interface (UPI) transactions, reaching a staggering 8,572 crore by December 11, 2023, marking a significant shift towards digital transactions. This growth is part of a larger trend, with U...

December 18, 2023 3:54 PM

Government of India launches Sovereign Gold Bonds 2023-24 with Digital Discount

In a strategic move to channelize domestic savings into financial instruments, the Government of India has launched the Sovereign Gold Bond Scheme 2023-24 (Series III). Stemming from the inaugural scheme in November 2015 under the Gold Monetisation S...