Page 268 - Economy & Policy News

Govt seeks Parliament's nod for over Rs 87K crore extra expenditure

It includes Rs 6,593 cr towards fertiliser subsidy scheme, around Rs 9K cr for agriculture, and Rs 8K cr for defence

India aims to be a maritime power by 2030, says Sarbananda Sonowal

The Union Cabinet had approved the project in October, even though it had been in the works much earlier. Currently, its physical progress stands at 60 per cent

Credit grows at 10.6% and deposits at 10.7% in November 29 fortnight

Data shows outstanding deposits in the fortnight ending November 29 stood at Rs 220.17 trillion, while outstanding credit stood at Rs 175.09 trillion

How discussions at COP29 could shape India's renewable energy future

The goal of tripling renewable energy by 2030, set at COP28, depends on urgently mobilising international finances for the developing world

Green shoots seen on consumption, food inflation likely to fall: Ficci Prez

Government spending in the right areas -- like increase in capex and ramping up infrastructure, rather than focusing on revenue expenditure -- is helping the overall economy

Centre seeks Parliament approval for extra Rs 86,730 crore spending in FY25

The net additional spending, as stated by the government, amounts to Rs 44,183 crore for the financial year ending March 31

Retailers urge FinMin and GST Council not to go for higher 35% tax rate

All the gains of the GST regime will be wiped out, with permanent damage to the vast age-old retailer network of India

RBI's forex swaps, arbitrage spur inversion of rupee forward premiums curve

The implied yield on near-maturity forwards is now higher than on longer-term forwards for the first time this year

'Should not be concerned much about imports as long as exports' grow'

The secretary said that one needs to avoid the mercantilist approach and should not bother too much about trade balance and imports

Need energy transition without compromising economic growth: CEA Nageswaran

Assuaging concerns of slowdown, he said, India is on track to achieve 6.5-7 per cent GDP growth for the current fiscal pencilled in Economic Survey

Modi govt's policies, corporate tax cuts failed to revive economy: Cong

Congress general secretary in-charge communications Jairam Ramesh said what is needed for stimulating demand is tax cuts for the salaried middle classes and income support to the poor

Edible oil import up 39% in Nov on higher shipment of crude oils: SEA

On Thursday, Solvent Extractors' Association of India (SEA) released the data of import of vegetable oil (edible and non-edible ) for November

Rosneft, Reliance agree on biggest ever India-Russia oil supply deal

The 10-year agreement amounts to 0.5 per cent of global supply and is worth roughly $13 billion a year at today's prices

India's economic growth by end of this fiscal will be back on track: Goyal

The minister was replying to a question whether the 5.4 per cent GDP growth in the July-September quarter of this fiscal worries him

India needs $2.2 trn investment to be $7 trn economy by 2030: Knight Frank

To achieve an economic size of $7 trillion by 2030, India's economy is required to grow at a CAGR of 10.1 per cent between 2024-2030

India-EU trade pact talks need political directions for meaningful deal

The pact came up for discussion during an interaction between Commerce and Industry Minister Piyush Goyal and Ambassadors of the European Commission delegation

Asian Development Bank lowers India's growth forecast to 6.5% for FY25

The multilateral funding agency also revised downwards its forecast for the next financial year (FY26) to 7 per cent from 7.2 per cent estimated earlier

Reducing debt burden priority for next decade, says FM Sitharaman

Sitharaman said that intergenerational debt is mounting on countries, and it is important for the government and industry to work together to manage debt at the national and sub-national levels

Rate cut unlikely in Feb review or in FY26: Axis Bank's Neelkanth Mishra

A rate cut will not be possible for the next 13-14 months due to the inflation outlook, said Mishra, who is also a part-time member of the PM's Economic Advisory Council

Uttar Pradesh earmarks 17,000 acres for multimodal logistics parks

Yogi 2.0 to offer 30% subsidy on investments of Rs 1,000 crore