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Ratings agency ICRA has revised upwards its projection of bank credit growth in FY24 to 14.9-15.3 per cent, estimated at an incremental growth of ₹20.4-20.9 lakh crore, from the earlier projection of 12.8-13 per cent equating to a growth of ₹17.5-17.8 lakh crore. “This will be the highest ever incremental bank credit growth and would […]

The post ICRA Revises Up Bank Credit Growth Estimate To 15% From 13% For FY24 first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: Indian Oil Corporation (IOC) on Wednesday reported a massive jump in its third quarter net profit as compared to the year-ago period when it was financially struggling as input raw material crude oil prices spiked but retail finished product prices remained on freeze. Standalone net profit of Rs 8,063.39 crore in October-December 2023-24 […]

The post Indian Oil Corporation Q3 Net Profit Soars To Rs 8,063 Crore, On Road To Best-Ever Annual Earning first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: The government may go slow on sale of any extra stake in Life Insurance Corporation (LIC) and wait for investors who participated in the state-run insurer’s initial public offer (IPO) to book a decent capital appreciation. It feels that an appropriately timed follow-on offer is crucial for keeping investor interests in the stock […]

The post No Fresh Stake Sale In LIC In Near Future; Eyeing Larger Investor Pool first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: The share of direct taxes in gross domestic product (GDP) rose to a 15-year high of 6.11 per cent during 2022-23 (FY23), but their buoyancy fell to 1.18 from 2.52 in the previous year, according to official data released on Tuesday. This means that while the tax-to-GDP ratio registered a record high during […]

The post Tax-GDP Ratio Rises To 15-Year High Of 6.11% During FY23, Shows Data first appeared on Latest India news, analysis and reports on IPA Newspack.

The private jet parking lots at airports near the city of Ayodhya are full and the shops have run out of gold-plated idols, as wealthy devotees prepare for the invite-only opening ceremony of one of Hinduism’s holiest temples. Prime Minister Narendra Modi and Asia’s richest man Mukesh Ambani are among the 8,000 or so attendees […]

The post Devotees splurge on jets, gold-plated idols for temple opening first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: Retail inflation for farm workers and rural labourers increased marginally to 7.71 per cent and 7.46 per cent in December compared to 7.37 per cent and 7.13 per cent, respectively, in November due to higher prices of certain food items.Food inflation stood at 9.95 per cent and 9.80 per cent in December 2023, […]

The post Retail Inflation For Farm Workers Rises To 7.71 Per Cent In December first appeared on Latest India news, analysis and reports on IPA Newspack.

The International Energy Agency (IEA) on Thursday made a further upward revision to its 2024 oil demand growth forecast, though its projection remains dramatically lower than producer group OPEC’s expectations. The Paris-based agency’s forecast, its third consecutive upward revision in as many months, predicts that global oil consumption will rise by 1.24 million barrels per […]

The post IEA Raises 2024 Oil Demand Forecast Again, This Time By 180,000 bpd first appeared on Latest India news, analysis and reports on IPA Newspack.

MUMBAI: India should sustain the strong growth momentum in the next financial year by securing at least a 7 per cent expansion in GDP while the headline inflation needs to align with the target of 4 per cent by the second quarter of FY25, as projected, said the Reserve Bank of India’s (RBI’s) state of […]

The post Inflation Needs To Align With Target By Second Quarter: RBI first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: Telecom companies have urged the government to abolish the universal services obligation fund (USOF) levy, reduce licence fee, and bring in exemptions from Customs duty on import of telecom equipment and goods and services tax (GST). The Cellular Operators Association of India (COAI), which represents major telecom companies, has made the recommendations to […]

The post Run-Up To The Interim Budget: Lower Licence Fee, Customs Duty On Telcos’ Wish List first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: India’s crude oil imports from Saudi Arabia may pick up modesty after the kingdom cut the official selling price of its key export grade for February, but the demand for discounted Russian Urals is still seen surpassing that for the oil from Saudi Aramco. Analysts feel any lartge additional buying of Saudi crude […]

The post Saudi Price Cuts Unlikely To Dent Indian Demand For Urals first appeared on Latest India news, analysis and reports on IPA Newspack.

MUMBAI: Consumer price index-based inflation, the main yardstick for the Reserve Bank of India’s policy making, is likely to average 4.5 per cent in the next financial year and gross domestic product (GDP) growth is likely to stay above 7 per cent, Governor Shaktikanta Das said on Wednesday. “At this stage, our expectation is that […]

The post CPI Inflation To Average 4.5% In Fy25, Growth To Top 7%: RBI Governor first appeared on Latest India news, analysis and reports on IPA Newspack.

By Dr. Gyan Pathak India is facing rising industrial concentration in just five hands, and is enriching billionaires, private equity funds, and crony capitalists driving unprecedented level of inequalities and poverty among people. Dalits are facing high and unaffordable out-of-pocket fees in the private healthcare sector, financial exclusion in the private healthcare sector, and overt […]

The post India Faces Rising Industrial Concentration In Just Five Hands: Oxfam first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: India’s wholesale price index (WPI)-based inflation rate rose to a nine-month high of 0.73 per cent in December, mainly due to an increase in prices of food articles, data released by the ministry of commerce and industry showed on Monday. This is the second consecutive month that the wholesale inflation rate had remained […]

The post Higher Food Prices Push WPI Inflation To 9-Month High In December first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: India’s trade deficit in December narrowed to a three-month low of $19.8 billion amid an import slowdown due to falling commodity prices. Merchandise exports during the month grew 0.97 per cent over a year earlier to $38.45 billion, contrary to the trend of a slowdown so far this financial year, showed data released […]

The post Trade Deficit Falls To Three-Month Low Of $19.8 Billion In December first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: Reliance Industries Ltd is seeking a minimum USD 10 rate for the gas it plans to produce from coal seams, as it altered its pricing formula to reflect the changed energy scenario. Reliance has sought bids from users for 0.90 million standard cubic meters per day of gas it will produce from coal-bed […]

The post Reliance Seeks Minimum USD 10 For Coal Seam Gas first appeared on Latest India news, analysis and reports on IPA Newspack.

By Nantoo Banerjee The new year’s best news for India, is that the Saudi Arabia-led Organisation of Petroleum Exporting Countries (OPEC) is fast losing its grip on the market with a number of countries willing to offer prices even lower than those fixed for Russian crude. Saudi Arabia itself has cut down crude oil prices […]

The post Lower Global Oil Demand And Price Will Benefit India In 2024 first appeared on Latest India news, analysis and reports on IPA Newspack.

MUMBAI: The Reserve Bank of India’s (RBI) monetary policy action may be credited for reducing core Consumer Price Index (CPI) inflation in the recent months, but a sub-4% core print also denotes weak demand conditions in the country at an aggregate level, say economists. Curiously, this is also a bit at odds with the RBI’s […]

The post Sub-4 Per Cent Core Inflation Betrays Weak Demand Conditions first appeared on Latest India news, analysis and reports on IPA Newspack.

By K Raveendran Shipping rates have already gone up by more than three times in a week after the January 9 attack by Houthis on the Red Sea. But supply chain professionals are warning that the rates are going to further shoot up in the coming weeks. This is bad news for India’s export-import trade, […]

The post No Relief For Export-Import Trade As Shipping Costs Expected To Further Shoot Up first appeared on Latest India news, analysis and reports on IPA Newspack.