Page 178 - Economy & Policy News
India asks IMF to review loans to Pakistan, Indian govt source says
India suspended a critical river water sharing treaty and the two countries have closed their airspace to each other's airlines
 "India asks IMF to review loans to Pakistan, Indian govt source says")
India-EU trade pact to address tariff and non-tariff barriers equally
Commerce Minister Piyush Goyal says India-EU trade deal to focus on tariff and non-tariff barriers alike, with both sides targeting a meaningful pact by end of 2025
 "India-EU trade pact to address tariff and non-tariff barriers equally")
S&P cuts India's FY26 GDP forecast to 6.3% over US tariff uncertainty
In March, S&P had lowered the FY'26 GDP growth forecast to 6.5 per cent, from 6.7 per cent
 "S&P cuts India's FY26 GDP forecast to 6.3% over US tariff uncertainty")
India stresses focus on non-tariff barriers, import duty in EU trade talks
Commerce Minister Piyush Goyal and EU Trade Commissioner Maros Sefcovic reviewed trade talks progress during their meeting in Brussels, focusing on key issues like tariffs and non-tariff barriers
 "India stresses focus on non-tariff barriers, import duty in EU trade talks")
India's manufacturing PMI hits 10-month high of 58.2 in April, IIP rebounds
April 2025 Manufacturing PMI: New orders, especially international demand, grew at the fastest rate in 14 years, driving manufacturing output growth in April
 "India's manufacturing PMI hits 10-month high of 58.2 in April, IIP rebounds")
Bouncing back: April's net GST kitty at fresh high of ₹2.09 trillion
Net receipt from FY25 transactions increases 8%
 "Bouncing back: April's net GST kitty at fresh high of ₹2.09 trillion")
NEERI to study environmental impact of Rs 76,200 cr Vadhavan Port project
The decision was taken following the Supreme Court's verdict in February, which directed the Centre to appoint an independent agency to assess the impact
 "NEERI to study environmental impact of Rs 76,200 cr Vadhavan Port project")
Aiming for 'meaningful' deal with India, says EU trade commissioner
Earlier this year, both sides decided to set an ambitious deadline to sign the long-pending free trade agreement (FTA) by end-2025
 "Aiming for 'meaningful' deal with India, says EU trade commissioner")
India, EU make solid headway towards balanced, mutually free trade deal
Commerce and Industry Minister Piyush Goyal is in Brussels to discuss progress of this trade agreement with European Commissioner for Trade and Economic Security Maros Sefcovic
 "India, EU make solid headway towards balanced, mutually free trade deal")
Creative economy can further increase its share in GDP, says PM Modi
The PM said that Indian films are now reaching every corner of the world, with they being released in more than 100 countries
 "Creative economy can further increase its share in GDP, says PM Modi")
Manufacturing reality: Domestic vs foreign consumption gets more complex
The degree of domestic versus foreign contribution to the consumption of a nation's economy
 "Manufacturing reality: Domestic vs foreign consumption gets more complex")
India's coal production increases 3.63% to 81.57 MT in April
Both coal production and dispatch witnessed steady growth in April 2025, compared to the same period last year, the coal ministry has said
 "India's coal production increases 3.63% to 81.57 MT in April")
GST mop-up rises 12.6% to record ₹2.37 trillion in April: Govt data
The GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017
 "GST mop-up rises 12.6% to record ₹2.37 trillion in April: Govt data")
Total exports jump to $825 bn in FY25 as services shipments rise over 13%
Following the release of March services exports data by the RBI, the country's overall exports for 2024-25 have been revised to $824.9 billion from the earlier estimate of $820.93 billion
 "Total exports jump to $825 bn in FY25 as services shipments rise over 13%")
ED to prioritise FEMA violation cases in 2025: Director Rahul Navin
In a bid to ensure corrective action rather than just punitive measures, the Director added that the ED would encourage defaulters to file for compounding of offences where appropriate
 "ED to prioritise FEMA violation cases in 2025: Director Rahul Navin")
India may export up to 800K tonnes of sugar this season, says food secy
So far, the country has shipped 300,000 tonnes of sugar and about 60,000 tonnes is at ports for shipment
 "India may export up to 800K tonnes of sugar this season, says food secy")
India's GDP to grow between 6.5-6.7% in FY26 on strong demand: Deloitte
Deloitte estimated India's GDP growth at 6.3-6.5 per cent for FY25 and said that the economic outlook for FY26 hinges on a delicate balance between evolving trade relations
 "India's GDP to grow between 6.5-6.7% in FY26 on strong demand: Deloitte")
Tendu patta collection target remains unchanged in Chattisgarh for 2025
Over 1.4 million collectors would be the beneficiaries even as the state government would pay ₹920 as remuneration if the target had been achieved
 "Tendu patta collection target remains unchanged in Chattisgarh for 2025")
Datanomics: 65 years on, Gujarat leads Maharashtra in key economic metrics
The shift is most stark in manufacturing - historically a core strength of Maharashtra
 "Datanomics: 65 years on, Gujarat leads Maharashtra in key economic metrics")
Individual taxpayers with LTCG up to ₹1.25 lakh can use simplified ITR-1
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2
 "Individual taxpayers with LTCG up to ₹1.25 lakh can use simplified ITR-1")