The Supreme Court on Wednesday upheld the government policy of allowing Foreign Direct Investment (FDI) in multi-brand retail.

Faced with declining growth, the Reserve Bank is likely to cut repo rate and Cash Reserve Ratio (CRR) by about 0.25 percent each to spur demand and boost industrial output.

In a bid to counter tax evasion, the Finance Ministry is contemplating making it mandatory for individuals and Hindu Undivided Families (HUFs) to report Indian assets and liabilities in income-tax (I-T) return forms.

In a relief to common man, petrol price was on Tuesday cut by Rs 3 per litre, effective from midnight.

World Bank on Tuesday scaled down India's growth forecast to 6.1 percent for the current fiscal from 7 percent projected six months ago.

Parliament proceeds may be in a limbo but Finance Ministry's advisor Raghuram Rajan on Tuesday pitched for passing of a bill to allow 49 percent FDI in insurance sector.

In a move that would raise the cost of air travel, the government on Tuesday said it has allowed airlines to charge passengers for preferred seats on a flight, check-in baggage and meals, among other things.

The rupee on Tuesday rose by 13 paise to 54.12 against the dollar in early trade at the Interbank Foreign Exchange on fresh selling of the US currency by exporters, amid sustained foreign capital inflows.

The practice of multi-national companies parking their profits in tax havens to evade or avoid taxes is a challenge for the I-T department and it should positively tackle these issues, President Pranab Mukherjee said here.

India's foreign exchange (forex) reserves decreased by USD 485.9 million to USD 294.76 billion for the week ended April 19, according to data released by the Central Bank.