Economy

Market leader Maruti Suzuki reports 1.4% fall while Hyundai Motor India’s local sales slip 4.5% in Sept. Domestic passenger car sales by major players declined in September, 2018 as compared with the same period last year on account of rising fuel and product prices. Market leader Maruti Suzuki witnessed 1.4% …

‘Fully committed to ensure needed liquidity is arranged’ The government on Monday made clear its commitment to ensuring that the ailing Infrastructure Leasing & Financial Services (IL&FS) receives the liquidity it needs from the financial system, and that no further defaults take place, terming the company a large Systemically Important …

From his petty shop opposite the Jeevan Deep building on Parliament Street, Lal Poddar has had a ringside view of thousands of dharnas organised at Delhi’s premier protest venue. Monday’s rally by the Pension Parishad and HelpAge India, however, had a personal significance for him. “They are demanding a pension …

Clarity sought on the number of aircraft in service The Air Passengers Association of India (APAI) has expressed concern over India’s low ‘air safety oversight score’, which is lower than that of Myanmar, Bangladesh, Maldives, Pakistan, Sri Lanka, Nepal and North Korea in the Asia-Pacific region. The report prepared by …

The Union Health Ministry has ordered an inquiry into the type-2 polio virus contamination detected in the vials used for immunisation in Uttar Pradesh, Maharashtra and Telangana, and has ordered additional immunisation in three States. The government, which has stepped-up surveillance after the breach, has said, “That all possible precautions …

Reward for tip-offs on GST evasion on the anvil The revenue department is planning to come out with a ‘GST informant reward scheme’ to check tax evasion by unscrupulous traders and businesses, an official said. It will be on the lines of similar schemes for excise and service tax, which …

Insurance regulator IRDAI has allowed the distribution of all micro-insurance products through point-of-sales (PoS), with an aim to further increase insurance penetration in the country. The Insurance Regulatory and Development Authority of India (IRDAI) has created a special category of insurance policies called micro-insurance policies to promote insurance coverage among …

U.S. was top export destination with $47.9 bn worth of shipments in the last fiscal India’s exports hold a promising outlook with the U.S. economy growing at its best in four years, coupled with the rupee depreciation leading to enhanced net revenue realisations, according to a report by Assocham. The …

The potential for cooperation between India and Israel in plantation sectors such as tea and coffee is high, said Shai Mosses, Israel Consul for Trade and Economic Affairs. Speaking at a conference organised by the United Planters’ Association of Southern India (UPASI), Mr. Mosses said there were many collaborations happening …

Banks with robust financials, strong liability franchise, control on asset quality will continue to do well Non-banking financial companies are going through growth de-rating and are expected to remain volatile in the near future, says Dhiraj Relli , managing director and chief executive officer, HDFC Securities. Investors are also cautious …

Around three centuries ago, India’s share of the global economy was about 25%. Today, it has dwindled to single digits. During this period, India missed three waves of industrialisation: Industry 1.0, driven by mechanisation, steam power and weaving loom; Industry 2.0, driven by mass production and assembly line; and Industry …

More exports, price stability, clearance of dues on wish list As the Indian sugar sector steps into a new season, it looks forward to more exports, price stability in the domestic market, and clearance of cane arrears to farmers. The problems the industry confronts today are many, and stem mainly …

The continued rise in oil prices and a crisis of confidence set off by the IL&FS episode pose a challenge Three weeks is a long time for the economy. Ask Finance Minister Arun Jaitley and the mandarins in North Block. Until recently, it seemed as if growth was finally returning …

Ownership and management are treated at arm’s length, says HPCL CMD State-owned oil marketing company (OMC) Hindustan Petroleum Corporation Limited (HPCL) generated heated debates when it chose not to recognise ONGC as its parent even after the latter bought 51% stake in HPCL from the government for Rs. 37,000 crore. …

Transport fuel prices continued to rise on Sunday, with petrol inching closer to Rs. 91 a litre mark in Mumbai. Petrol touched Rs. 90.84 per litre, up from Rs. 90.75 on Saturday, data on the Indian Oil Corporation (IOC) website showed. Petrol prices in Delhi, Kolkata and Chennai on Sunday …

‘It is controlled neither by govt. nor by capitalists’ Inaugurating a new chocolate-making factory set-up by dairy giant Amul in Gujarat, Prime Minister Narendra Modi on Sunday said a cooperative like Amul is a viable economic alternative to capitalist and socialist models. The factory is an expansion of an already …

Effect of expanded censorship strategy could more readily cause people to believe rumours about the economy, says professor Zhang Ming of Renmin University China has long made it clear that reporting on politics, civil society and sensitive historical events is forbidden. Increasingly, it wants to keep negative news about the …

Tough to retain teachers in village schools: Naidu Vice-President M. Venkaiah Naidu said on Saturday that it was becoming increasingly tough to retain good science and mathematics teachers in village schools. This should be corrected in order to develop scientific temper, he said here in Madhya Pradesh in connection with …

It will also enable self-service analytics With a view to fast-tracking the adoption of data analytics in the government to improve delivery of services to citizens, Electronics and IT Minister Ravi Shankar Prasad on Friday unveiled a Centre of Excellence for Data Analytics (CEDA). The centre would help build analytic …

Move comes in the wake of challenges in global scenario Commerce Minister Suresh Prabhu has approved the constitution of a high-level advisory group (HLAG) to look into the opportunities and ways to address the ongoing challenges in the global trade scenario, the government said on Friday. “The terms of reference …