BUSINESS
US inflation at the lowest since 2021
March's monthly consumer price index (CPI), which measures the price of a basket of goods and services, showed the rate easing off over the last year, The Guardian reported. In February, the annual inflation figures stood at 6 per cent, already a steep decline from its peak of 9.1 per cent in June, the report said.
India's industrial output rose by 5.6% in February 2023
Between April 2022 and February 2023, industrial output registered a growth of 5.5 per cent. The January IIP growth was revised to 5.2 per cent. The official data showed that manufacturing sector's output rose by 5.3 per cent in February 2023, while mining output rose 4.6 per cent, and power generation 8.2 per cent during the month under review.
Retail inflation falls to 5.66% in March as food prices slide
The retail inflation fell mainly due to sharp slide in food inflation, which stood at 4.79 per cent in March against 5.95 per cent in February. Retail inflation was 6.95 per cent in March 2022. With CPI-based inflation falling below 6 per cent, it is now within the RBI's tolerance level, which is between 2 per cent to 6 per cent.
India's electronics sector exports cross Rs 1,85,000 cr, mobiles alone surpass Rs 90K cr
The mobile phone exports made history by crossing the $10 billion threshold for the first time in any fiscal year, reaching an estimated $ 11.12 billion (over Rs 90,000 crore) in FY23. Mobile phone exports rose from Rs 45,000 crore in FY 21-22 to Rs 90,000 crore, surpassing the previous estimate of Rs 75,000 crore.
Government says steps will be taken to expedite domestic coal production
Addressing an interactive session with coal block allottees of captive and commercial coal blocks here, Coal Secretary Amritlal Meena said that timely availability of land and other clearances are of paramount importance in ensuring early production of coal from newly allocated blocks.
'Huge delta of opportunities in India': Piyush Goyal at India-France business summit
Goyal, who is currently on a tour of France, while addressing the India-France Business Summit and CEOs Roundtable in Paris on Tuesday, said: "We are one of the largest consumers of goods and services. Exports of goods and services are growing by over 50 per cent, and we hope to continue this growth trajectory. We hope to see our exports of goods and services triple from $765 billion to $2 trillion by 2030."
Keshub Mahindra: The man who saw evolution of Indian auto industry and grew M&M
But on Wednesday, the 99-year-old doyen Keshub Mahindra (Born on October 9, 1923), Chairman Emeritus of the $19 billion revenue M&M group attained the lotus feat of the God. In another six months, he would have become a centenarian. It was during his nearly 50-year reign, that the M&M group forayed into other business ventures like information technology, financial services, hospitality and others.
IMF slashes Pakistan's economic growth forecast amid increasing inflation
In a latest forecast, the IMF has reduced the economic growth estimates of Pakistan to 0.5 per cent, while the inflation spike projection estimates are far above 20 per cent for at least two years. The staggering estimates showcase Pakistan's deep rooted financial crisis, which are showing their damaging affects on the people, who are facing severe hardships, which for the moment, are not going to end soon.
Doyen of Mahindra Group, Keshub Mahindra passes away at 99 in Mumbai
He was 99 and breathed his last peacefully at his home. He is survived by nephew and industrialist Anand Mahindra and other relatives.
A well-known philanthropist, Mahindra had served as the non-executive Chairman of the Union Carbide India Ltd. when the massive Bhopal gas leak had occurred in December 1984.
Accounting firm EY calls off plan to break up auditing & consulting units
The firm, formally known as Ernst & Young, announced they were "stopping work on the project" because it's US arm decided to not to move forward, BBC reported.The Big Four -- Deloitte, EY, KPMG and PwC -- dominate the global accounting market share. The plan came as regulators called for major industry reforms over conflict of interest and poor working practices, BBC reported.
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