NEW DELHI: Over two months into the financial year, the Centre has raked in around Rs 20,000 crore from disinvestment and asset sales, pushing ahead with its strategy to raise resources through non-tax revenue route in face of the mounting subsidy bill due to the West Asia conflict. The funds raised so far are around…
The government remains confident about India’s growth outlook despite rising fuel and fertiliser import costs triggered by the Middle East crisis, with official sources saying GDP momentum remains intact, domestic consumption is holding up and there is no immediate need for additional borrowing.Sources told news agency PTI the FY27 Budget had already factored in global…
Rising oil prices, higher fertiliser costs and supply disruptions linked to the Iran war are beginning to cloud India’s economic outlook, with economists warning that prolonged tensions could push up inflation, slow growth and strain government finances.India, the world’s third-largest oil importer and consumer, imports about 90% of its crude oil requirements, making it among…
Aviation turbine fuel (ATF) prices for domestic airlines rose by around 10 per cent on Tuesday as state-owned oil marketing companies rolled out a government-backed price stabilisation scheme that will allow carriers to lock in fuel rates for up to three years.Under the new regime, airlines opting into the scheme will pay a fixed ATF…
The government’s recent measures to boost foreign portfolio investment (FPI) in Government Securities (G-Secs) are aimed at improving India’s chances of securing inclusion in Bloomberg’s flagship Global Aggregate Bond Index, government sources said on Tuesday, PTI reported.Last Friday, the Centre unveiled a series of reforms to increase FPI participation in G-Secs and deepen the domestic…
The rupee snapped its losing streak and appreciated 20 paise against the US dollar on Tuesday as easing crude oil prices and a weaker dollar improved investor sentiment amid hopes of a pause in hostilities between the US and Iran.Forex traders said the domestic currency also drew support from positive domestic equities, softer US Treasury…
The fertiliser ministry has sought a 100% increase in the fertiliser subsidy budget for FY27 as the West Asia conflict drives up global fertiliser prices and import costs, according to government sources, PTI reported.Sources said the Department of Fertilizers has approached the Finance Ministry seeking a doubling of the fertiliser subsidy from the budgeted Rs…
US stocks advanced on Tuesday as technology shares tied to the artificial intelligence (AI) boom extended their recovery from last week’s sharp sell-off, while lower oil prices eased pressure on investors.The S&P 500 rose 0.6%, moving back within 2% of the record high it touched a week ago. The Dow Jones Industrial Average gained 291…
A five-day meeting of BRICS member countries began in Indore on Tuesday, with discussions centred on food security, climate-resilient agriculture, farmer welfare and greater cooperation among member nations in the agriculture sector.Officials from BRICS countries participated in the opening round of discussions under India’s BRICS chairmanship, PTI reported.A senior official from the Department of Agriculture…
In the three months since the conflict began, Russia has continued to be the dominant player in India’s crude oil imports. (AI image) US President Donald Trump announced in February that India would stop buying Russian crude oil and step up energy ties with the United States of America. Four months after that, India’s Russian…