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India Good News

 

Saudi Aramco to increase oil supply to India.  World’s largest oil company Aramco has offered to increase crude oil supplies to India by 200,000 barrels a day (bpd), which would meet almost half of the country’s oil imports that are currently derived from Iran.

08 May 2019

 

United Nations report forecasts Indian economy to grow by 7.1% in FY20. The World Economic Situation and Prospects (WESP) 2019 mid-year update projected the Indian economy to grow at 7.1% in fiscal year 2020 on the back of strong domestic consumption and investment.

21 May 2019

 

145 million farmers to be covered under PM Kisan scheme.  The government has announced the expansion of the PM Kisan scheme providing minimum income support to smallholder farmers, with an additional 25 million farmers to now be covered under the scheme.

31 May 2019

 

Automated GST refund for exporters by next month.  GST refunds for exporters to become automated from June which is expected to reduce the refund period to a fortnight from months at present. Currently, refunds of exporters run into thousands of crores which blocks working capital.

13 May 2019

 

India’s per-capita income rises 10% in FY19.  India’s per-capita income is estimated to have risen by 10% to INR 10,534 a month during the financial year ended March 2019.

31 May 2019

 

Domestic equity benchmarks BSE Sensex and NSE Nifty close at record highs following BJP victory.  The BSE Sensex and NSE Nifty, closed at records highs of 39,684 and 11,957 respectively, as investors continued to cheer the decisive mandate for the Narendra Modi’s BJP in the national election.

27 May 2019