Category: BUSINESS

Ahead of the Union Budget for 2020-21, Prime Minister Narendra Modi on Thursday met economists and sector experts at the Niti Aayog to discuss the state of the economy and steps which can be taken to revive growth which is projected to drop to 5 per cent this fiscal. The high-profile meeting was attended by Home Minister Amit Shah, Road Transport and Highways Minister Nitin Gadkari, besides Niti Aayog Vice Chairman Rajiv Kumar, CEO Amitabh Kant and other senior officials of the think-tank. Bibek Debroy, chairman of the Economic Advisory…

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Equity benchmark BSE Sensex slumped over 350 points in opening session on Wednesday as tensions in the middle-east escalated after Iran fired missiles at US military bases in Iraq. After hitting a low of 40,476.55, the 30-share BSE index pared some losses to trade 193.98 points or 0.47 per cent lower at 40,675.49. Similarly, the broader NSE Nifty dropped 59.60 points or 0.49 per cent to 11,993.35. L&T Bank was the loser in the Sensex pack, shedding up to 1.47 per cent, followed by Kotak Bank, HDFC Bank, SBI, Axis…

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The Centre has rolled out the ‘one nation, one ration card’ initiative in 12 states including Madhya Pradesh and Maharasthra, Food and Consumer Affairs Minister Ram Vilas Paswan said Tuesday.Currently, the central government’s ambitious initiative is being implemented on a pilot basis in a cluster of six states. It wants to implement this facility across the country from June 1, 2020.Under the initiative, eligible beneficiaries would be able to avail their entitled foodgrains under the National Food Security Act (NFSA) from any Fair Price Shop in the country using the…

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Tata Motors did not produce a single unit of its entry-level car Nano in 2019 although it sold just one unit in February even as the company is yet to officially retire Ratan Tata’s “people’s car”. According to a regulatory filing by the company, Tata Motors had zero production and sales of the Nano in December 2019 while it produced 82 units and sold 88 units in December 2018. Similarly, in November 2019 there was zero production and sales of the entry-level model, whereas in the year-ago period it produced…

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Petrol and diesel prices rose for the fourth straight day on Sunday as global oil prices jumped after the US killed a top Iranian general, fanning fresh fears of conflict in the crude-rich Middle East. Retail pump price of petrol was hiked by 9 paise per litre and that of diesel by 11 paise, according to a price notification of state-owned fuel retailers. Petrol in Delhi now costs Rs 75.54 per litre — the highest in more than a year, while a litre of diesel comes for Rs 68.51. While…

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Equity benchmark BSE Sensex dropped over 100 points in opening session on Friday as global equities turned negative after the US killed a top Iranian general, fuelling fears of a conflict in the oil-rich region. Brent crude surged 4.4 per cent to USD 69.16 and WTI jumped 4.3 per cent to 63.84. The 30-share BSE index was trading 107.35 points or 0.26 per cent lower at 41,519.29. Similarly, the broader NSE Nifty slipped 39.10 points or 0.32 per cent to 12,243.10. Asian Paints was the top loser in the Sensex…

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The Indian rupee opened on a cautious note and fell 11 paise to 71.33 against the US dollar in early trade on Thursday amid sustained rise in crude oil prices and foreign fund outflows. Forex traders said the rupee is trading in a narrow range amid lack of directional cues from the global market. At the interbank foreign exchange, the rupee opened at 71.27 then fell to 71.33 against the dollar, showing a decline of 11 paise over its previous closing. The Indian rupee on Wednesday had closed at 71.22…

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Equity benchmark BSE Sensex jumped over 150 points in opening session on the first day of 2020, tracking buying in index heavyweights Reliance Industries, HDFC twins, ICICI Bank, L&T and Axis Bank.After rising 164 points in early trade on Wednesday, the 30-share BSE index was quoting 131.47 points or 0.32 per cent higher at 41,385.21. Similarly, the broader NSE Nifty rose 46.75 points or 0.38 per cent to 12,215.20.Reliance Industries was the top gainer in the Sensex pack, rising up to 0.82 per cent, followed by L&T, IndusInd Bank, Bharti…

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The economic slowdown may have clipped sales of cars and biscuits in 2019, but smartphones bucked the trend as urban and rural users continued to buy, and even upgrade to, expensive handsets – a trend likely to pick up pace in the coming year. The growth in smartphone adoption was further fuelled by the government’s push to position the country as a global hub for manufacturing and coax Apple and other leading brands to produce and export more phones from India. Experts say that phone shipment is expected to see…

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As economic slowdown continues to hurt sales, the Indian retail industry expects to bounce back in the second half of 2020 on the back of consumer demand revival and increased spending.While major players struggled to keep themselves on the growth chart in 2019, they expect a decent double-digit growth coming back in 2020.But sectoral experts are cautions, saying it would depend on various factors like recovery of manufacturing and other sectors, incentives in the Union Budget and availability of money in the hands of consumers to make purchasing decisions.”We are…

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