Page 122 - Economy & Policy News

Is Tata Group preparing for leadership change at BigBasket? What CEO says

BigBasket Chief Executive Officer (CEO) Hari Menon said there was no plan to hire a CEO for the grocery e-tailer and no search had been initiated

GST Council meet Sept 3-4: Rate cuts, rationalisation on the agenda

The 56th GST Council meeting on September 3-4 may decide on rate rationalisation, tax cuts on essentials, and compensation measures for states. All you need to know

Russian crude becomes cheaper for India amid US pressure on oil trade

India became a major importer of Russian crude after the start of the war in Ukraine in 2022, but the South Asian nation was recently slapped with crushing US tariffs for the trade

Tamil Nadu signs investment deals worth Rs 3,819 cr at German conclave

Chief Minister Stalin gets commitments worth Rs 7,020 cr during his visit to the European country

GST overhaul may slash levies on shampoos, hybrid cars, TVs, electronics

Consumer electronics like air conditioners and televisions could see rates drop from 28% to 18%, ahead of the Diwali shopping season starting in October

Datanomics: India's GDP surprise driven by deflator effect across sectors

The sharp uptick was largely due to the impact of GDP deflators, which remained unusually soft, particularly in the primary and secondary sectors

At 59.3, manufacturing PMI rises to nearly 18-year high in August

Improvements in demand continued to underpin robust increases in factory orders and production

India's current account deficit narrowed to 0.2% of GDP in Q1 FY26

India's CAD narrowed to $2.4 billion in Q1FY26 from $8.6 billion a year ago as remittances surged 18% and services exports rose, offsetting a wider merchandise trade deficit

MGNREGA work demand dips 26% in Aug with spike in kharif sowing

While the civil society felt the drop could be due to a squeeze in funding with the Centre directing states to cap MGNREGA labour budget spending to 60 per cent in the first six months

India's net GST kitty increases 10.7% to ₹1.67 trillion in August

Gross GST collections in August, for transactions undertaken in July, stood at about Rs. 1.86 trillion, 4.8 per cent lower than the previous month

India's GDP growth likely to stay strong in Q2FY26, say economists

Economists say the effect of a low deflator and low base is likely to boost expansion

A tepid start: India's critical mineral block auctions see weak response

In these auctions, the government grants two types of concessions: a mining lease allows the winning bidder to directly undertake mining operations

Govt launches first Biofoundry Network with 21 facilities across India

India unveiled its first Biofoundry Network with 21 facilities nationwide to drive biomanufacturing, support start-ups, reduce imports and advance the $300 billion bioeconomy target for 2030

At $2.4 billion, India's current account back in deficit in June quarter

The current account deficit stood at $2.4 bn, or 0.2% of GDP, in the first quarter of the fiscal year 2025-26, compared with a surplus of $13.5 bn, or 1.3% of GDP, in preceding quarter, data showed

Gross GST mop-up rises 6.5% to ₹1.86 trillion in August, shows govt data

The August Goods and Services Tax (GST) mop-up is, however, lower than Rs 1.96 trillion collected in July. In August 2024, the collection was Rs 1.75 trillion

TCA Kalyani takes charge as Controller General of Accounts, Finance

T.C.A. Kalyani, a 1991-batch ICAS officer, has been appointed Controller General of Accounts, bringing her 34 years of experience in key ministries to the Finance Ministry

India's strong GDP growth fails to boost equity markets amid US tariffs

GDP in India grew at 7.8 per cent in April-June quarter in real terms, but nominal growth, which represents output at current market prices, fell to 8.8 per cent from 10.8 per cent in last 3 months

India pushes back at US over Russian crude, calls 'laundromat' claim false

India defended its Russian oil imports, saying it followed international rules and helped keep global prices stable, rejecting US claims that it fueled the Russian war effort

Manufacturing PMI hits 59.3 in Aug driven by rapid expansion in production

India manufacturing PMI hits 17 year high in August to 59.3 from 59.1 in July driven by a rapid expansion in production, shows HSBC survey as compiled by S&P Global

India's rise as China's economic alternative stalls under Trump's tariffs

A lurch in policy has shaken the India-U.S. economic alliance against China, leaving India little choice but to consider reversing its own strategy