Indian Economy

‘Raw material vendors may turn wary’ The closure of the Thoothukudi facility of Sterlite Copper has put global suppliers of copper concentrates in a spot, it is learnt. In the wake of the Sterlite imbroglio, the international trading and supplier community is reportedly unsure of the wisdom of entering into …

100% stake sale on anvil as ONGC seeks to offload its 49% shareholding in helicopter services provider The government will soon invite fresh bids for 100% stake sale in Pawan Hans by issuing an addendum to the disinvestment document as ONGC is ready to sell its entire stake in the …

Foreign exchange reserves declined by $951 million to $404.2 billion in the week to July 27, on account of a fall in the foreign currency assets, the RBI said. In the previous week, the reserves rose by a marginal $67.7 million to $405.1 billion. The forex kitty is an indicator …

India’s benchmark equity index, the 30-share Sensex, is on a record-breaking spree this year. The recent past saw the index regularly touching a new high with ease as it breached the 37,000-mark for the first time ever on July 26. Incidentally, the index took only 13 trading sessions to clock …

Company to sell CNG in 11 cities, piped cooking gas in six Billionaire Gautam Adani’s group on Friday emerged as the biggest winner of gas retailing licences, winning rights to sell CNG in 11 cities, including Allahabad. Adani won the rights to retail CNG to automobiles and piped cooking gas …

Increase in new business strongest since June 2017; inflation pressures still ‘high’ India’s services sector activity remained in the growth territory for the second consecutive month in July, as business activity witnessed the strongest growth since October 2016, amid improved demand conditions, said a monthly survey. The seasonally adjusted Nikkei …

Likely to prevent three lakh deaths in five years It is estimated that the Swachh Bharat Mission Gramin (SBM-G) will result in preventing more than three lakh deaths due to diarrhoea and protein-energy malnutrition between 2014-October 2019, notes a World Health Organisation (WHO) report released on Friday. The progress report …

Kerala losing over Rs. 400 crore due to tax evasion The State has also had to take a beating because of the recent decision of the GST Council to cut tax rates for a horde of goods, mainly durables, which would affect a consumer State such as Kerala. It is …

The Union Cabinet on Wednesday gave its approval to the government’s decision to reduce its stake in IDBI Bank below 50%, with Life Insurance Corporation raising stake in the bank to 51%. The boards of IDBI Bank and LIC have both given their approval for the deal. This policy will …

Maharashtra Chief Minister Devendra Fadnavis said on Tuesday that any reservation extended in a hurry to the Maratha community will not stand up in court, while the BJP ally Shiv Sena stirred the quota pot further by asking the State government to extend reservation to Dhangars and Kolis as well. …