Page 1080 - Economy & Policy News
Exports rise 40% to touch $418 bn in FY22, surpass govt target by 5%
The growth was driven by higher demand for items in the petroleum, gems and jewellery, engineering products
 "Exports rise 40% to touch $418 bn in FY22, surpass govt target by 5%")
India's health budget still in need of improvement, shows data
There is the problem of the current infrastructure being able to absorb higher levels of funding
 "India's health budget still in need of improvement, shows data")
Cryptocurrency exchanges feel pinch as India's new tax regime starts
Sharp fall in volumes and number of visitors on first three days of April
 "Cryptocurrency exchanges feel pinch as India's new tax regime starts")
Ind, Aus trade pact to ensure full capacity utilisation of Indian apparel
Apparel Export Promotion Council said duty-free access for the sector to Australia under the trade pact will bring domestic exporters at par with global competitors and make local products competitive
 "Ind, Aus trade pact to ensure full capacity utilisation of Indian apparel")
Engineering exports may sustain growth momentum despite challenges: EEPC
EEPC chairman also stated that volatility in commodity prices, supply chain disruptions and a possible change in world political order would certainly have an impact on trade and the economy.
 "Engineering exports may sustain growth momentum despite challenges: EEPC")
Wheat exports likely to cross 10 mn tonnes this fiscal: Piyush Goyal
The country's wheat exports are likely is cross 10 million tonnes during 2022-23, due to increasing demand for the commodity in world market, Commerce and Industry Minister Piyush Goyal
 "Wheat exports likely to cross 10 mn tonnes this fiscal: Piyush Goyal")
Govt to borrow Rs 8.45 trn from market during April-September period
The Union government is looking to raise Rs 8.45 lakh crore through borrowings in the first half of 2022-23 to fund the revenue gap for reviving the economy, the finance ministry said on Thursday.
 "Govt to borrow Rs 8.45 trn from market during April-September period")
India exports rise to record high of $ 418-bn in FY22: Govt data
India's merchandise exports spurted to a record high of USD 418 billion in the 2021-22 fiscal on higher shipments of petroleum products, engineering goods, gem and jewellery and chemicals
Peak power demand up 12% at 198.47 GW, may cross 200 GW-mark in April
According to the power ministry data, the peak power demand met was 177.20 GW on April 1, 2021.
 "Peak power demand up 12% at 198.47 GW, may cross 200 GW-mark in April")
Odisha records 49% growth in GST collection for fiscal year 2021-22
The Odisha Goods and Services Tax (OGST) collection for the financial year 2021-22 is Rs 12743.01 crore as against Rs 8292.15 crore collected till March '21 with a growth rate of 54 per cent.
 "Odisha records 49% growth in GST collection for fiscal year 2021-22")
Regulator asks power exchanges to cap bid prices as demand surges
The prices discovered at the power exchanges have remained significantly high during the last few days.
 "Regulator asks power exchanges to cap bid prices as demand surges")
With surging exports, India to push its businesses abroad more boldly
India has recently inked crucial trade agreements with United Arab Emirates (UAE) and Australia.
 "With surging exports, India to push its businesses abroad more boldly")
IndAus ECTA 'watershed' moment for bilateral relations, says PM Modi
The process for 'IndAus ECTA' started from September 30, 2021. It was inked on Saturday
 "IndAus ECTA 'watershed' moment for bilateral relations, says PM Modi")
Odisha registers 49% growth in gross GST collection in 2021-22
The officials informed that the growth in GST is mostly driven by mining and manufacturing sectors
India-Australia sign trade pact; bilateral trade to reach $45 bn in 5 years
This is the first trade agreement with a developed economy after over 10 years
 "India-Australia sign trade pact; bilateral trade to reach $45 bn in 5 years")
India, Australia ink economic cooperation and trade pact to boost ties
India and Australia on Saturday signed an economic cooperation and trade agreement under which Canberra would provide duty free access in its market for over 95%.
GST collection rises to an all-time high of Rs 1.42 trillion in March
The robust mop-up could be attributed to the government's tightened compliance measures and crackdown on GST evaders and fake bills
 "GST collection rises to an all-time high of Rs 1.42 trillion in March")
Net direct tax collection rises 50% to record Rs 13.81 trillion in FY22
Gross mop-up touches record Rs 15.83 trn; exceeds Budget and revised estimates
 "Net direct tax collection rises 50% to record Rs 13.81 trillion in FY22")
Housing sales up 71% YoY in March quarter, highest since 2015: Anarock
Approximately 99,550 units sold across the top 7 cities in Q4, according to data from real estate consulting firm
 "Housing sales up 71% YoY in March quarter, highest since 2015: Anarock")
Interim India-UK trade deal will eye win-win sectors, says Kevin McCole
Reduction in tariffs on auto components can result in more manufacturing investment in India, and if the UK were to reduce tariffs on Indian textiles, it could be a win-win, says Kevin McCole
 "Interim India-UK trade deal will eye win-win sectors, says Kevin McCole")