Economy Archives - Page 3 of 3 - Punjab

Metal firms, desperate for coal, looking for fuel in other countries 0

May 10, 2022

A coal shortage in India has caused sponge iron makers to scour the globe for supplies to keep their mills going, adding to inflationary pressures as they rely on more expensive imports. According to Managing Director V.R. Sharma, Jindal Steel & Power Ltd., which is running its sponge iron facilities at 40% capacity due to

To keep edible oil prices from rising, the govt intends to reduce taxes on it 0

Economy

May 6, 2022

According to persons acquainted with the situation, India is considering reducing tariffs on various edible oils to chill the home market after the war in Ukraine and Indonesia’s restriction on palm oil exports caused prices to rise. India, the world’s largest importer of vegetable oils, is trying to reduce the agriculture infrastructure and development cess

FM Nirmala Sitharaman: India plans to bring digital currency by next year 0

Business

April 28, 2022

India plans to launch digital money by 2023, according to Finance Minister Nirmala Sitharaman. “The government and RBI are looking into its several commercial use purposes and not just financial inclusion, which is largely achieved through the JAM trinity (Jan Dhan-Aadhaar-Mobile),” she said. India’s Finance Minister, Nirmala Sitharaman, stated that the country’s goal is to

Nirmala Sitharaman US semiconductor firms will increase their investments in India; With incentives 0
- Economy
- April 26, 2022
Nirmala Sitharaman, India’s finance minister, met with officials from the US semiconductor sector and asked them to invest more in India. The Finance Minister discussed prospects for enterprises in Silicon Valley, as well as the government of India’s resolve to be a reliable partner in the whole semiconductor value chain, with the Indian Semiconductor Mission
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In FY22, India’s oil import cost more than doubled to $119 billion.0
- Economy
- April 25, 2022
In the fiscal year that ended on March 31, India’s crude oil import bill then doubled to $119 billion, as global energy prices skyrocketed following the restoration of demand and the crisis in Ukraine. According to data from the energy ministry’s Petroleum Planning & Analysis Cell, India, the world’s third-largest oil consumption and importing nation,
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India to provide additional $500-mn assistance to Sri Lanka for fuel 0
- International
- April 21, 2022
India will provide an additional $500 million in financial assistance to Sri Lanka for it to buy fuel, Sri Lanka’s foreign minister told reporters on Wednesday, adding Bangladesh was also willing to postpone a $450 million in swap repayments. “Assistance by the IMF will take about six months to come to us and it will come in
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