India’s foreign exchange reserves rose by $5.17 billion to reach $696.66 billion for the week ended June 6, according to data released by the Reserve Bank of India (RBI) on Friday. This marks a rebound after a $1.24 billion decline in the previous week. The increase was primarily driven by a $3.47 billion rise in … Read more
The recent increase in excise duty on Indian Made Foreign Liquor (IMFL) by over 50–60% in Maharashtra is not merely a steep hike, but a long-overdue correction, according to Vinod Giri, Director General of the Brewers Association of India. Giri explained that although the hike may seem substantial, it is part of a long-pending tax … Read more
India’s Consumer Price Index (CPI)-based inflation eased to 2.82% in May 2025, down 34 basis points from April’s 3.16%, marking the lowest reading since February 2019. The fall was sharper than expected, with the CNBC-TV18 poll pegging May inflation at 2.95%. A key driver of the decline was food inflation, which dropped to 0.99%—the lowest … Read more
Vijay Mallya, the man once dubbed India’s “King of Good Times” but now pursued by creditors and branded a fugitive, claims that he has paid back more than he owed banks. “The government of India, Ministry of Finance, has published a report, their annual report, in which they have acknowledged ₹14,100 crore recovered from me. … Read more
The Cabinet Committee on Economic Affairs (CCEA) has approved two rail projects worth ₹6,405 crore on Wednesday (June 11) which would increase the existing network by about 318 kilometres, Union Minister Ashwini Vaishnaw said. The railway project includes doubling of the rail networks on two routes. The Koderma – Barkakana doubling network stretches 133 km, … Read more
In a strategic move to bolster state finances, the Maharashtra Cabinet, chaired by Chief Minister Devendra Fadnavis, has approved a series of measures aimed at increasing revenue from the State Excise Department. This decision forms part of a broader initiative to address fiscal challenges while modernising departmental operations. A high-level committee, tasked with identifying revenue-enhancing … Read more
The Prime Minister’s Office (PMO) held a crucial meeting on Friday, June 6, 2025, aimed at accelerating the development of Indian advisory firms that can compete with the global Big 4 — Deloitte, PwC, EY, and KPMG — in scale, capabilities, and influence, sources told CNBC-TV18. Scheduled under the chairmanship of Shaktikanta Das, Principal Secretary … Read more
Commerce and Industry Minister Piyush Goyal on Monday said that the Free Trade Agreement (FTA) with the European Free Trade Association (EFTA) is likely to come into effect from September 2025. The Minister kicked off the second leg of his Europe visit with meetings in Bern in Switzerland with global CEOs and industry leaders of … Read more
The Reserve Bank of India (RBI) on Monday (June 9) said it will discontinue its daily variable rate repo (VRR) auctions from June 11, following a review of current and evolving liquidity conditions in the banking system. The central bank had introduced the daily VRR auctions in January this year to manage short-term liquidity, with … Read more
Commerce and Industry Minister Piyush Goyal met with UK Foreign Secretary David Lammy on Saturday, June 7, to discuss key issues surrounding the India-UK Free Trade Agreement (FTA) and future collaboration between the two nations. Taking to social media platform X, Goyal described the meeting as “fruitful,” highlighting both sides’ appreciation for the work accomplished … Read more