Economics

Wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02% in June, helped by decline in prices of vegetables as well as fuel and power items, according to official data released on Monday. The Wholesale Price Index (WPI)-based inflation was at 2.45% in May. It …

State Bank of India penalised Rs. 7 crore The Reserve Bank of India (RBI) has penalised State Bank of India and Union Bank of India for violating certain regulatory guidelines. SBI was fined Rs. 7 crore for non-compliance with the directions issued by the RBI on Income Recognition and Asset …

Augment capacity on international routes as Air India not very ‘aggressive’ After the closure of Jet Airways, the international segment continues to offer huge opportunity for Indian airlines, mainly private carriers, as Air India is shying away from aggressive capacity expansion. According to a report by ICICI Securities Ltd., Air …

India’s trade deficit narrowed by nearly 8% to $15.28 billion during the last month, as against $16.6 billion in June 2018, according to official data released on Monday. In June 2019, merchandise exports fell nearly 10% to $25.01 billion as against $27.70 billion in the year-ago month, the Commerce Ministry …

The registration of new taxis in the city has dropped for the second consecutive year. While it touched a peak in 2016-17 with 32,479 registrations, in 2017-18, it dropped to 16,595. The downward trend continued in 2018-19 with only 16,274 taxis being registered. Source : https://www.thehindu.com/todays-paper/taxi-registration-drops-for-second-year-in-a-row/article28460618.ece

Policy must evolve over years and not change things overnight, say analysts The Union government’s push for electric vehicles (EV) in the Budget and the Economic Survey may adversely impact the Internal Combustion Engine (ICE) auto industry, which is already under stress, in the medium to long term. The two …

Finance Secretary Garg acknowledges liquidity concerns Finance Secretary Subhash Chandra Garg on Friday defended the government’s decision to bring the fiscal deficit down to 3.3% this year, saying this would free up additional resources for the private sector to borrow and invest. He also acknowledged the industry’s concerns that payments …

Bhatia group calls it a misinformation campaign, terms allegations ‘hot air’ Rakesh Gangwal, the co-founder of IndiGo, in a boardroom battle with partner Rahul Bhatia, has vowed to continue to raise the issue of lack of corporate governance at InterGlobe Aviation Ltd. (IGAL), the company that runs India’s biggest airline, …

Cautions against over-reliance on foreign currency debt Chief Economic Adviser Krishnamurthy Subramanian on Friday sought to caution against a more-thannecessary reliance on foreign savings as a trigger for accelerating economic growth through more investments. “If we have to invest for triggering a virtuous cycle, we need to tap into savings… …

‘Contribution to States on basis of Finance panel’s formula’ The government has no discretion in deciding the quantum of support each State gets for disaster relief, Finance Minister Nirmala Sitharaman informed the Rajya Sabha, adding that the contribution is set by a formula according to the recommendations of the Finance …