RIL's net profit up 38% in Q3: Mukesh Ambani (in the picture) led Reliance Industries Ltd posted record net profit in the December quarter at Rs 7,290 crore up by 38.7 per cent year-on-year. Beating estimates the company's margins were boosted by strong margins, highest in seven years, in its core refining business.
IMF retains FY17 India GDP forecast: The International Monetary Fund kept India's growth projection unchanged at 7.3 per cent in the current fiscal and 7.5 per cent in the next, even as it cut world economic outlook to 3.4 per cent for 2016. In its update on World Economic Outlook, IMF said China's growth would slow to 6.3 per cent in 2016 and further to 6 per cent in 2017, but India would continue to grow at a "robust pace".
Petrol price rises by 96 paise: Petrol price in Delhi was hiked by 96 paise per litre and diesel by 53 paise after the state government raised VAT or local sales tax on the two fuels. The Delhi government last night raised VAT on petrol to 27 per cent from 25 per cent, resulting in a 96 paise a litre hike in retail pump rates.
RBI should ease interest rates more, says Arvind Panagariya: India should review its monetary policy framework, Prime Minister Narendra Modi's top economic adviser Arvind Panagariya (in the picture) said, suggesting that the lower bound of the Reserve Bank of India's inflation target range was on the low side.
India home to 2.36 lakh millionaires: India is home to the fourth largest population of millionaires in the Asia Pacific region, with 2.36 lakh such high net worth individuals, while Japan topped the list with 12.60 lakh people, a report says. According to the Asia Pacific 2016 Wealth Report, by New World Wealth, India was ranked among the top five Asia Pacific countries in terms of number of High Net Worth Individuals.