Page 165 - Economy & Policy News
India fastest growing economy for fourth consecutive year: FM Sitharaman
India has remained the fastest-growing major economy for the fourth straight year, driven by strong manufacturing, services, and farm sector growth, the finance minister said
 "India fastest growing economy for fourth consecutive year: FM Sitharaman")
Govt achieves fiscal deficit target of 4.8% for FY25, shows data
The economic growth in nominal terms for the fiscal 2024-25 is estimated at Rs 3,30,68,145 crore, according to the GDP data released earlier in the day
 "Govt achieves fiscal deficit target of 4.8% for FY25, shows data")
India's forex reserves rise $6.99 billion to $692.72 billion: RBI
For the week ended May 23, foreign currency assets, a major component of the reserves, increased by USD 4.516 million to USD 586.167 billion, the data released on Friday showed
 "India's forex reserves rise $6.99 billion to $692.72 billion: RBI")
India's GDP grows at 7.4% in Q4 FY25; full-year growth estimated at 6.5%
RBI had pegged the fourth quarter's GDP growth at 7.2%, and FY25 at 6.6%
 "India's GDP grows at 7.4% in Q4 FY25; full-year growth estimated at 6.5%")
Indian govt to release crypto policy discussion paper next month
This comes at a time when digital currencies are seeing growing acceptance worldwide, especially after US President Donald Trump openly supported them
 "Indian govt to release crypto policy discussion paper next month")
Shrimp export volume growth to stay flat in FY26 due to US tariffs: Crisil
Indian exporters are expected to face stronger competition in low-value-added segments like raw, frozen, and peeled frozen shrimp, according to the Crisil report
 "Shrimp export volume growth to stay flat in FY26 due to US tariffs: Crisil")
India's gold demand lags as wedding season ends, high prices deter buyers
This week, Indian dealers were offering a discount of up to $31 an ounce over official domestic prices, inclusive of 6 per cent import and 3 per cent sales levies
 "India's gold demand lags as wedding season ends, high prices deter buyers")
Finance ministry seeks relaxation in RBI's new gold loan proposals
In April this year, the RBI had proposed tighter rules for monitoring and disbursement of gold loans, often used by low-income borrowers
 "Finance ministry seeks relaxation in RBI's new gold loan proposals")
India's GDP growth likely accelerated in Q4 on rural demand, state spending
Rural consumption improved during the quarter, while urban demand indicators remained mixed
 "India's GDP growth likely accelerated in Q4 on rural demand, state spending")
US court terms Trump tariffs illegal; India says trade deal on track
Speaking at the CII Annual Business Summit here on Thursday, Union Commerce Minister Piyush Goyal stressed that the deal with Washington remains "well on track"
 "US court terms Trump tariffs illegal; India says trade deal on track")
Currency circulation rises 5.8% as ₹2,000 note impact fades: RBI
RBI's annual report shows recovery in currency circulation post ₹2,000 note withdrawal, surge in e-rupee usage, and strong digital payment adoption in FY25
 "Currency circulation rises 5.8% as ₹2,000 note impact fades: RBI")
ICAI to review IndusInd Bank's books over forex accounting lapses
IndusInd Bank on March 10 had disclosed certain discrepancies identified by the lender in its account balances relating to its derivatives portfolio
 "ICAI to review IndusInd Bank's books over forex accounting lapses")
Review of the monetary policy framework on RBI's agenda for FY26
Central bank also likely to assess liquidity level needed for policy transmission
National security: How India can secure much-needed funds for defence
Experts say increasing the defence budget as a share of GDP even by ten basis points could significantly increase access to funds
 "National security: How India can secure much-needed funds for defence")
FDI hits $81 billion in 2024-25, highest in three years: DPIIT Secretary
Bhatia said that the free trade agreements that India is signing will provide opportunities for all businesses
 "FDI hits $81 billion in 2024-25, highest in three years: DPIIT Secretary")
Industries with AI to propel India to 3rd-largest economy: FM Sitharaman
FM says adoption of tech could have accelerated productivity gains
Well on track in our bilateral trade agreement talks with US: Piyush Goyal
The negotiations for the trade agreement with the European Union (EU) are also progressing at a faster pace, he added
 "Well on track in our bilateral trade agreement talks with US: Piyush Goyal")
Tariff war create opportunity for India in some of sectors: CEA Nageswaran
Addressing the CII Annual Business Meet here, he said India actually has a few silver linings which include low energy prices at the moment
 "Tariff war create opportunity for India in some of sectors: CEA Nageswaran")
Indian firms shifting focus to domestic market because of trade war: Survey
Over three-fourths of the respondents said that they are reassessing their long-term business strategies in response to changes in trade policies
 "Indian firms shifting focus to domestic market because of trade war: Survey")
Trust, deregulate, and reciprocate to escape middle-income trap: CEA
Nageswaran also said India should not be overly consumed by global uncertainty, especially with a domestic economy where private consumption accounts for 60 per cent of GDP
 "Trust, deregulate, and reciprocate to escape middle-income trap: CEA")