India's current account deficit (CAD) narrowed sharply to USD 0.3 billion, or 0.1 per cent of GDP, in the fourth quarter of 2015-16 from USD 7.1 billion, or 1.3 per cent, in third quarter, on account of lower trade gap.
Housing finance major HDFC Ltd today reported a 30.76 per cent surge in consolidated net profit to Rs 3,460.46 crore for the quarter ended March 31. The company's net profit after taxes was Rs 2,646.35 crore in January-March quarter of 2014-15.
The Finance Ministry has approved 8.7 per cent interest on PF deposits for over 5 crore subscribers of retirement body EPFO, lower than 8.8 per cent decided by the Central Board of Trustees (CBT).
Foreign Direct Investment into India touched the "highest ever" mark of USD 51 billion during the April-February period of last fiscal ended March 31, DIPP Secretary Ramesh Abhishek said today.
Reliance Industries today reported a 16 percent jump in the March quarter net profit to a record quarterly earning of Rs 7,398 crore on the back of higher refining and petrochem margins.
The manufacturing sector (including electricity and mining), grew at over 11.03 per cent, whereas Index of Industrial Production (IIP), core sector growth and PMI not necessarily show such a pick up.