News Updates on Economics and Finance

FCI operating 2,199 warehouses for storage of food grains
India faces ‘very significant challenges’, especially from China
India’s tech spending to grow 8.7% in 2022, highest in Asia-Pacific
Samsung to increase Galaxy S22 production to meet demand: Report
RBI’s MPC is expected to begin raising key lending rate from April, 2022
Restructuring of gasification assets to unlock value for Reliance
Reliance Industries seeks to be world’s top blue hydrogen maker
Coal India has sufficient buffer stock for non-power sector
Oppo collaborates with Reliance Jio to conduct 5G tests on mobiles
Max Healthcare Institute signs deal to acquire Eqova Healthcare
YES Bank seeks redemption of tier-II bonds worth Rs 1,763 crore
The country’s foreign exchange reserves increased by USD2.198 billion to USD 631.953 billion in the week ended February 4, 2022; RBI data showed.
ESOP: Taxability of ESOP and Deduction of ESOP Expenses
CBDT corrects its mistake in Notification Numbering
6.2 crore ITRs & 21 lakh TARs filed on new e-Filing portal
Shri Ravi Mital takes charge as Chairperson of IBBI
PM Uday Scheme Unauthorized Colonies Regulations: Gazette Notification
Introduction of ‘Digital Rupee’ – New Digital Currency
IBBI cancels registration of Valuer for concealment of information of criminal proceedings
Govt initiatives to promote Information Technology Industry Services
Migration of Foreign Companies To India
Meghalaya Cement Cess Act, 2010 ultra vires the Constitution: HC
Imported Base Oil can be used as HSD or Automotive fuel in internal Combustion Engines: HC
Infrastructure output in India went up 3.8% year-on-year in December of 2021
RBI may hike reverse repo rate by 0.25% in next week’s policy
India may become USD 5 trillion economy by FY26
ADB cuts India’s growth forecast to 10% for this fiscal due to Covid disruptions
Health ministry approves Rs 14,745 crore under Covid emergency response package to states, UTs
Digital India a good start but govt must build capabilities for robust growth
India to surpass Japan as Asia’s 2nd largest economy by 2030
Why India’s exports bucked trend, showed higher growth than imports in 3 quarters of 2021-22
RBI cancels licence of Maharashtra-based Independence Co-operative Bank
Govt increases allocation for EV subsidy threefold
At $8.65 bn, LIC 10th most valued insurance brand globally
TRAI recommendation on 5G spectrum by March, service roll out this year
The growth in nominal GDP during 2021-22 is estimated at 17.6 per cent.
The nominal GDP or GDP at current prices in the year 2021-22 is estimated at ₹ 232.15 lakh crore, as against the provisional estimate of GDP for the year 2020-21 of ₹ 197.46 lakh crore.
ITC Q3 results, profit rises to Rs 4,156.20 crore, revenue jumps to Rs 15,862.32 crore
JK Tyre’s net profit drops 77% to Rs 54 crore in December quarter
Torrent Power net profit rises 15% to Rs 369 crore in December quarter
Pidilite Q3 Results, revenue comes in at Rs 2,851 crore, net profit at Rs 359 crore
India has also become a key player in the global economy.
The implementation of an ambitious set of reforms has supported economic activity and helped put a break on inflation and on both fiscal and current account deficits.
Atal Pension Yojana (APY) : Monthly pension of just Rs. 1000 opted by 78% APY subscribers, says Economic Survey 2022
January, 2022 is the fourth straight month when Goods and Services Tax collection has crossed Rs. 1.30 lakh crore.
After the second infection wave that peaked in May, the recovery is gaining momentum and GDP is projected to grow at 9.4% in fiscal year (FY) 2021-22 before reverting to 8.1% in FY 2022-23 and 5½% in FY 2023-24.
India’s gold demand spiked 78.6% YoY to 797.3 tonnes in 2021, as per the Gold Demand Trends 2021 Report released by the World Gold Council (WGC).
Proposals for Construction of 3.61 Lakh Houses approved under PMAY(U)
Cabinet approves the Atal Mission for Rejuvenation and Urban Transformation – AMRUT 2.0 till 2025-26
Zomato to form non-banking finance company to enter financial services biz
552 liquor shops opened in Delhi till January 28, 2022 under Delhi Government new excise policy
NTPC to form new green energy arm for monetization
Boost for ‘Make in India’, Cabinet approves PLI scheme worth Rs 12,195 crore for telecom sector
LIC Housing Finance net profit rises 6% to Rs 767 crore in Q3
Century Plyboards India’s Q3 net profit jumps 42.7% to Rs 93.9 cr
TVS Motor acquires 75% in largest Swiss e-bike player SEMG for $100 million
Britannia Industries net profit falls 18% to Rs 369.18 crore in Q3
Cabinet approves relief package for telecom sector; 100% FDI allowed under the automatic route
Google to invest up to $1 billion in Indian telecom operator Bharti Airtel
IIFL Finance Q3 Results: Profit up 15% at Rs 310 crore
Eris Lifesciences Q3 Results: Profit rises to Rs 101 crore
Kotak Bank Q3 results | Net profit rises 15% YoY to Rs 2,131 crore, beats estimate
Sun Pharma-arm Taro logs better-than-expected Q3 EBITDA margin; stock up 4%
HUL Q3 Results: Net profit rises 17% YoY; beats Street estimates
Larsen & Toubro Q3 results: Net profit down 17% YoY at Rs 2,055 crore
5G Countdown: Is India ready for digital infra?
Air India handed over to Tata Group on 27th January, 2022
The Tata Group now takes full control of the iconic ‘Maharaja’
Tata Sons chairman N Chandrasekaran said Tata Group is committed to making Air India a world-class airline.
Tata Group founder JRD Tata had originally launched the airline in 1932 as the nation’s first carrier, flying mail between Karachi in then-undivided, British-ruled India and Bombay.
The government will list the country’s largest insurer LIC on the stock exchanges by March-end
India’s electronic exports jumps 49% in April-Dec 2021 over low base
India’s economic indicators flash early warning sign for rebound
Power minister talks to renewable energy developers, states on draft policy on energy storage
L&T’s woes may continue in Q3 on sharp fall in order inflows
Canara Bank Q3 net jumps over 2x on lower provisioning
Powell’s new Mr Nimble avatar proves dangerous for D-St
Can this multibagger sector get another fillip in Budget?
Most Indians want to tax the rich, companies that profited during covid: Survey
Days of easy money making from IPOs may be over
Zomato shares tank 10%, down 48% from 52-week highs
PNB Q3 net profit zooms 123% to Rs 1,126.78 cr on lower provisions
Britannia Q3 Results Preview: Analysts see drop in profit on high agri input prices, packaging costs
Colgate-Palmolive India Q3 results: Net profit flat to Rs 252 cr
Laurus Labs Q3 results: Net profit drops 44% YoY to Rs 154 crore
CG Power Q3 Results: Net profit jumps 28% to Rs 546 crore
L&T Q3 Results Preview: Analysts expect another weak quarter; order inflows to fall sharply
Arvind Q3 Results: Net profit jumps over four-fold to Rs 94 cr
RBL Q3 Results: Lender logs 6% rise in net profit on growth in NII
India for ‘greater urgency’ in trade negotiations with EU, says External Affair Minister Mr. Jaishankar