IMF drives down global growth forecast; India to grow at 9.5% this year and 8.5% in 2022

India’s economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022, according to latest projections released by the International Monetary Fund (IMF). India’s growth projection released by the latest World Economic Outlook remains unchanged from its previous […]

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International Energy Association invites India to become full-time member: Oil Minister Puri

International Energy Agency (IEA) has invited India, the world’s third-largest energy consumer, to become its full-time member, India’s oil Minister Hardeep Singh Puri said after online discussions with IEA Executive Director Fatih Birol. If India accepts the invitation, New Delhi will be required to raise its strategic oil reserves to 90 days stock. India’s current […]

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Global oil and gas investment to be 30% below pre-Covid level: ONGC chairman

Global investment in the upstream oil and gas sector will be around 30 per cent below pre-pandemic levels according to Oil and Natural Gas Corporation (ONGC) Chairman, Subhash Kumar. Delivering his speech at the 28th Annual General Meeting of the company, Kumar said, “Last year, global upstream investments sank to a 15-year low at $350 billion, as […]

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Stock limits on edible oils imposed again to soften prices in market

The Department of Food and Public Distribution has again imposed stock limits on edible Oils and oilseeds to soften the prices of edible oils in the domestic market for a period up to March 31, 2022, informed the Ministry of Consumer Affairs, Food, and Public Distribution on Sunday. According to a statement issued by the ministry today, the removal of licensing […]

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