Budget 2018-19

  Oil prices fell on Tuesday due to investor worries about demand after renewed restrictions were imposed in Europe and Asia amid a rise in coronavirus cases Oil prices fell on Tuesday due to investor worries about demand after renewed restrictions were imposed in Europe and Asia amid a rise in coronavirus cases. Brent crude oil futures eased by 34 cents, or 0.5%, to $74.05 a barrel by 0401 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell by 35 cents, or 0.5%, to $70.94. “Energy traders don’t want to bet against OPEC+ but all the short-term risks from Omicron to Fed tightening is proving to be very disruptive to the short-term outlook for oil prices,” said Edward Moya, senior analyst at OANDA. “The virus spread across Europe is delivering a bigger hit than expected and when you calculate family gatherings for the holidays, the short-term outlook could get slashed over the next month.” Governments around the world, including most recently Britain and Norway, were tig...

  The Indian economy is projected to grow at 11 per cent in the current financial year amid the “strong” vaccine drive, said ADB on Wednesday The Indian economy is projected to grow at 11 per cent in the current financial year amid the “strong” vaccine drive, said ADB on Wednesday, while cautioning that the recent surge in COVID cases may put the country’s economic recovery at “risk”. “India’s  economy  is expected to grow 11 per cent in fiscal year (FY) 2021, which ends on March 31, 2022, amid a strong vaccine drive,” ADB said in its flagship Asian Development Outlook (ADO) 2021 released on Wednesday. However, the Asian Development Bank (ADB) cautioned that the surge in COVID-19 cases may put the country’s economic recovery at risk. For FY2022, India’s GDP is expected to expand at 7 per cent, it added. Further, it said the gross domestic product (GDP) of South Asia is expected to rebound to 9.5 per cent this year, following a contraction of 6 per cent in 2020, before mod...