Economy and Finance
News and views related to the Indian Economy and Financial sector
Core inflation declines to a 48-month low in December 2023, reaches 3.89% in December from 6.1% in January: NSO data
Core inflation has eased to a sub-4 percent level which has happened for the first time in the post-pandemic period. It has declined to 3.89 percent in December from 4.1 percent in November.
ONGC starts oil production from deep sea in Krishna Godavari basin offshore project: PM Modi calls it remarkable step in India’s energy journey
Union Minister Hardeep Singh Puri added that production is expected to be 45,000 barrels per day of oil and over 10 million standard cubic metres per day of gas.
Gautam Adani overtakes Mukesh Ambani to become India’s richest person on the Bloomberg Billionaires Index
The majority of Adani's wealth arises from the Adani group's six listed entities. According to Bloomberg, the companies and stakes are as follows: Adani Power (70%); Adani Total Gas (37%); Adani Energy Solutions (73%); Adani Ports (66%); and Adani Green Energy (56%).
‘SEBI is capable of looking into allegations against Adani, no need for SIT’: SC says OCCRP report, Hindenburg’s claims cannot be held as truth
The court stated in its ruling that the Supreme Court's jurisdiction to enter the regulatory framework of SEBI is restricted. "SEBI has concluded investigations in 20 of 22 cases. The investigation into the remaining two cases will be completed within three months," the order stated.
Tata Electronics to recruit 1,000 female technicians in Assam for Semiconductor Assembly Testing and Packaging facility in Karnataka
ata group company Tata Electronics, which has big plans for the semiconductor industry, is recruiting 1000 female technicians in Assam for its semiconductor facility in Narasapur near Bengaluru.
Tesla to set up its first Indian factory in Gujarat, announcement likely during Vibrant Gujarat event in January 2024
Tesla may announce its debut in India in January 2024 during the Vibrant Gujarat Summit scheduled to be held in Gandhinagar
Pakistan’s economic development model has failed, it benefits only the elites: World Bank Country Director for Pakistan
ANI -
World Bank Country Director for Pakistan, Najy Benhassine said that Pakistan's economic development is limited to the elite which resulted in the country lagging behind
3 top Vivo executives, including interim CEO Hong Xuquan, arrested by Enforcement Directorate for money laundering
ED's probe unearthed that Vivo India had remitted nearly Rs 62476 crore to China, constituting almost 50% of its turnover, ostensibly to avoid taxes in India.
This will be a game changer for the payments industry: Payments Council of India welcomes RBI allowing tokenisation of cards through banks
ANI -
The Payments Council of India (PCI), a representative body of the non-banking payment industry in India, welcomed the RBI's move to enable the issuing of tokens for cards via internet and commercial banks.
IMF commends India’s economic resilience and growth amid global challenges, projects 6.3% growth in 2023-24
ANI -
The current account deficit is anticipated to improve to 1.8 per cent of GDP in FY2023/24, supported by resilient services exports and lower oil import costs.
