Page 110 - Economy & Policy News
India's forex reserves rise by $4.7 billion to reach $702.97 billion
For the week ended September 5, foreign currency assets, a major component of the reserves, increased USD 2.537 billion to USD 587.014 billion, the data released on Friday showed
 "India's forex reserves rise by $4.7 billion to reach $702.97 billion")
Only 2 in 10 consumers felt GST rate cut benefits in 2018-19, shows survey
Only 18 per cent of consumers say GST rate cuts in 2018-19 reached them; half blame brands and retailers for not reducing MRPs, while 78 per cent demand strict enforcement to pass on benefits
 "Only 2 in 10 consumers felt GST rate cut benefits in 2018-19, shows survey")
Japan's R&I upgrades India's currency rating to BBB+; outlook stable
R&I upgrade comes as RBI rate cuts, GST revamp and resilient domestic demand boost confidence in India's economic outlook
 "Japan's R&I upgrades India's currency rating to BBB+; outlook stable")
New GST reforms unlikely to put major burden on govt revenue: Crisil
Crisil said that govt has estimated the revenue loss at ₹48,000 crore, which is modest in comparison to last year's ₹10.6 trillion collections
Oyo parent Prism launches CheckIn app; targets luxury and premium stays
Oyo's parent firm is expanding into the premium segment with CheckIn app, which features hotels, homes, and holiday rentals. The existing app will continue to serve value-conscious travellers
 "Oyo parent Prism launches CheckIn app; targets luxury and premium stays")
Lower GST rates to ease tax burden, boost MSMEs, aid formalisation: Report
For rural households, the share of exempt and merit goods in their consumption basket is expected to rise sharply from 56.3 per cent to 73.5 per cent
 "Lower GST rates to ease tax burden, boost MSMEs, aid formalisation: Report")
RBI asks states to spread borrowings across tenures as bond yields surge
In a meeting this week with state government officials, the RBI advised states to spread their borrowing across the yield curve
 "RBI asks states to spread borrowings across tenures as bond yields surge")
In managing national debt, France could borrow a leaf from India
European giant's subsidies and welfare spending blamed for stretched financial resources
 "In managing national debt, France could borrow a leaf from India")
Net direct tax collection up 9% to Rs 10.82 trn till Sep 17 as refunds dip
Net direct tax collections grew 9.18% YoY to Rs 10.82 trillion till Sept 17 in FY26, driven by higher non-corporate tax inflows and lower refunds, while advance tax rose 2.9%
 "Net direct tax collection up 9% to Rs 10.82 trn till Sep 17 as refunds dip")
Fed cuts rates 25 bps but inflation risks keep investors on edge
Some investors are now less certain that a rapid shift to lower borrowing costs will materialize, potentially dampening optimism that stocks and bonds would get a strong lift from easier policy
 "Fed cuts rates 25 bps but inflation risks keep investors on edge")
Tariff turbulence: When Tamil Nadu's Dollar Town hangs by a thread
The knitwear hub battles shrinking US demand, steep discounts, job cuts, and rising competition from global rivals
 "Tariff turbulence: When Tamil Nadu's Dollar Town hangs by a thread")
US may cut tariff to 10-15%, penal duty likely to go: CEA Nageswaran
Chief Economic Advisor V Anantha Nageswaran said, according to his intuition, the penal tariff was unlikely to continue beyond November 30
 "US may cut tariff to 10-15%, penal duty likely to go: CEA Nageswaran")
Net direct tax revenue jumps 9% to ₹10.82 trillion till September 17
Refund issuances dropped 24% to ₹1.61 trillion between April 1 and September 17
 "Net direct tax revenue jumps 9% to ₹10.82 trillion till September 17")
Fiscal discipline must to promote growth: RBI Governor Sanjay Malhotra
RBI Governor Sanjay Malhotra calls on states to maintain fiscal discipline, improve expenditure quality and borrow responsibly while coordinating closely with the central bank
 "Fiscal discipline must to promote growth: RBI Governor Sanjay Malhotra")
Rupee slips to 88.13 as hawkish Fed cut ends four-day winning streak
The rupee fell to 88.13 per dollar after the US Fed's hawkish 25 bps cut, ending a four-day rally, as bond yields rose on selling by dealers and supply-demand mismatch
 "Rupee slips to 88.13 as hawkish Fed cut ends four-day winning streak")
FMCG companies can drive growth by leveraging brand equity: Report
Worldpanel by Numerator says FMCG firms must leverage brand equity to expand into high-growth categories and win new consumers
 "FMCG companies can drive growth by leveraging brand equity: Report")
India will not allow rerouting of domestic goods from UAE to US, says Goyal
He said that if Indian goods come to UAE and are sent to other Asian countries or African nations, or other parts of the region, declaring that they are made in India, it will be a very welcome step
 "India will not allow rerouting of domestic goods from UAE to US, says Goyal")
Rajasthan govt plans new strategy to further raise mining
According to a mines department official, a "concrete strategy", which includes aspects like recovery of dues, is being developed
 "Rajasthan govt plans new strategy to further raise mining")
Tariff issue with US may be resolved in 8-10 weeks: CEA Nageswaran
CEA V Anantha Nageswaran said India and the US could resolve their tariff dispute within 8-10 weeks, as both sides hold talks and look to improve ties
 "Tariff issue with US may be resolved in 8-10 weeks: CEA Nageswaran")
EU unveils new agenda for India, but energy ties with Russia cast shadow
The EU said its closer partnership with India is increasingly becoming vital in the wake of shifting geopolitical realities and that it is imperative for the two sides to strengthen economic growth
 "EU unveils new agenda for India, but energy ties with Russia cast shadow")