Federal Reserve Board Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., on September 18, 2024. | Photo Credit: Reuters The U.S. Federal Reserve cut its key lending rate by half a percentage-point Wednesday (September 18, 2024) in its first…
India’s logistics cost will reduce to single-digit in five years, Union Road Transport and Highways Minister Nitin Gadkari said on Thursday. Addressing the ‘Deloitte Government Summit’ in Delhi, Gadkari said the ministry is constructing several highways and expressways that will help reduce India’s logistics cost. “I am confident within five years our logistics cost will…
Representational file image. | Photo Credit: K. Murali Kumar The Centre said on Wednesday (September 18, 2024) that it does not expect an increase in prices of essential commodities such as sugar and edible oils during the festival season. Talking to reporters on decisions taken by the Food Ministry in the first 100 days of…
“West Bengal, which held the third-largest share of national GDP at 10.5% in 1960-61, now accounts for only 5.6% in 2023-24. It has seen a consistent decline throughout this period.” the paper said. | Photo Credit: AFP West Bengal has experienced a continuous decline in its relative economic performance over several decades, according to a…
Representational file image. | Photo Credit: Reuters The government on Tuesday (September 17, 2024) slashed windfall tax on domestically produced crude oil to ‘nil’ per tonne with effect from September 18. The tax is levied in the form of special additional excise duty (SAED) and is notified fortnightly based on average oil prices in two…
File picture of Bombay Stock Exchange (BSE) building, in Mumbai | Photo Credit: PTI Benchmark Sensex rose by nearly 91 points to close at a fresh lifetime high while Nifty settled above the 25,400 level for the first time supported by firm global trends ahead of the much-awaited U.S. Fed’s decision on interest rates. Extending…
Photo used for illustration purpose only. | Photo Credit: The Hindu India’s goods exports dropped 9.32% to $34.71 billion in August, while the import bill expanded 3.3% to $64.36 billion. The trade deficit widened to a ten-month high of $29.65 billion, reckoned to be the second highest monthly gap in goods trade. “Gold imports more…
Pulses put on display for sale at wholesale grocery market in New Delhi. File photo | Photo Credit: The Hindu Inflation in India’s wholesale prices slid to a four-month low of 1.31% in August from 2.04% in July, aided by a slight moderation in the pace of price rise in food items and manufactured goods,…
Commerce and Industry Minister Piyush Goyal on Monday announced the Centre’s Start-up India initiative will be moved out of the aegis of the official investment promotion and facilitation agency Invest India, to a new non-profit company that could also house the National Start-up Advisory Council. “I took a decision a few days back… Let us…
File picture of Union Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan | Photo Credit: ANI Union Minister of Agriculture Shivraj Singh Chouhan welcomed the decision to increase the import duty on edible oils from 0% to 20% and said it was a big move in favour of farmers’ welfare. In a statement in…
