Petrol price on Tuesday crossed Rs 100 a litre mark after rates were hiked by 80 paise a litre and 70 paise in case of diesel, taking the total increase in rates in one week to Rs 4.80 per litre. Petrol in Delhi will now cost Rs 100.21 per litre […]
Economic News
‘Steel prices will continue to move up as Ukraine-Russia conflict hits supply chain’
The price of steel will continue to move upwards on ”good demand” as the supply chain remains affected amid the Ukraine-Russia conflict, according to industry consultancy SteelMint. The prices in the international market have moved up by around USD 135 a tonne and are moving up since the conflict started […]
India asks Indonesia to raise palm oil supply as prices spike: Report
India has asked Indonesia to increase palm oil shipments to the country to compensate for a loss of sunflower oil supplies from the Black Sea region due to the Ukraine crisis, several governments and industry sources in India told Reuters. India, the world’s biggest buyer of edible oil, relies on top producer Indonesia for more than […]
Power consumption grows 2.2% to 105.54 billion units in February
India’s power consumption growth remained subdued at 2.2 percent year-on-year in February to 105.54 billion units (BU), showing the impact of local restrictions imposed by the states due to the third wave of COVID-19. Power consumption in February 2021 was 103.25 BU, a tad lower than 103.81 BU in the same month of […]
India-UAE trade deal| First major trade pact under Modi govt set to boost jewellery, apparel exports
In what will be the first major trade deal implemented by the Modi government, India and the United Arab Emirates (UAE) will officially sign a Comprehensive Economic Partnership Agreement (CEPA) on February 18. Negotiations on the deal have been completed in record time, having been officially launched in September 2021. […]
Long-awaited 5G spectrum auction expected in April-May 2022: Official
The long-awaited 5G spectrum auction is expected to be held in May this year if the Telecom Regulatory Authority of India (Trai) submits by March its recommendations on the rules regarding the sale process, according to a senior official of the telecom department. Telecom Minister Ashwini Vaishnaw earlier this month said the Trai has […]
RBI may hike reverse repo rate by 0.25% in next week’s policy
The Monetary Policy Committee (MPC) may go for a hike of up to 0.25 per cent in the reverse repo rate at which the RBI absorbs excess liquidity and leave the repo rate at which it lends, to narrow the policy rate corridor, a British brokerage said on Thursday. “Growth […]
Power consumption grows 2.6% in January
India’s power consumption grew marginally at 2.6 per cent year-on-year in January to 112.67 billion units (BU), showing the impact of local restrictions imposed by states amid the third wave of COVID-19. Power consumption in the entire January last year was 109.76 BU, which was 4.4 per cent higher than […]
China’s energy crisis highlights weaknesses in Xi’s power plans
By Administrator_ India Capital Sands China’s energy crisis has highlighted weaknesses in one of President Xi Jinping’s top priorities — energy security — that could have ramifications for the power system for years to come. To avoid repeats of the chaos ravaging the world’s second biggest economy, the country will […]
Oil Ministry mulls reinstating subsidized LPG prices
By Administrator_ India Capital Sands The Ministry of Petroleum and Natural Gas is evaluating a threshold at which the subsidy on Liquefied Petroleum Gas (LPG or cooking gas) will be reinstated. According to a senior government official in the know, a survey is currently being conducted to determine the price […]