Page 29 - Economy & Policy News

Why India's 7% growth may not be enough for 2047 developed nation goal

India needs 9.25% growth rate to meet PM Modi's 2047 developed-nation goal, according to Ashok Lahiri, a senior official at the country's apex government-run think-tank

Finance Ministry to commence exercise for Budget 2027-28 from Oct 12

The Finance Ministry will begin preparations for Union Budget 2027-28 from October 12, with pre-Budget meetings scheduled through mid-November.

GST Council to meet on September 12, may ease blocked ITC, refund norms

The GST Council will meet on September 12 and is likely to consider easing blocked input tax credit rules, refund norms and transfer of unutilised ITC

IGL raises CNG price by Rs 3.89 per kg in Delhi as LNG costs surge

CNG will cost Rs 86.98 per kg in Delhi from August 29, with IGL citing higher imported spot LNG prices following renewed disruption around the Strait of Hormuz

Sitharaman invites global investors to manufacture, innovate in India

Addressing a high-level Business Roundtable with leading investors and business leaders in Chicago on Friday, Sitharaman highlighted India's broad-based growth, reform momentum

India state fiscal health: Delhi boasts highest own revenue share in FY25

Business Standard's State Fiscal Health Tracker compares states and Union Territories on own revenue as a share of total revenue receipts. Here's what the FY25 Budget Estimates show

India state fiscal health: Delhi records lowest fiscal deficit in FY25

Business Standard's State Fiscal Health Tracker compares states and Union Territories on gross fiscal deficit as a share of GSDP. Here's what the FY25 Budget Estimates show

CNG prices hiked by ₹3.89 per kg in Delhi-NCR, new rates effective today

In a statement, IGL said a significant portion of input gas for CNG is being met through imported LNG, whose rates in the spot or current market have seen a surge since the beginning of the West Asia

FinMin urges ministries to give realistic projections for FY28 Budget

Finance Ministry kicks off the FY28 Budget exercise, seeking realistic projections as rising subsidy costs and the West Asia crisis put pressure on government finances

India, Canada on track to reach $50 billion trade target by 2030: FM

The two countries are discussing a free trade agreement aimed at boosting bilateral trade, while also exploring a financial investment protection agreement

Industrial output growth eases to 6.7% in July as three sectors slow

Manufacturing growth moderated to 7.3 per cent from 9.5 per cent in June, while mining and quarrying slipped back into contraction during the month

India's forex reserves rise $12.4 billion to record high of $729.3 billion

Forex reserves rose sharply on strong inflows under the RBI's concessional swap window and revaluation gains, while foreign currency assets increased by $9.48 billion

India state fiscal health: Telangana tops guarantees burden in FY25

Business Standard's India State Fiscal Health Tracker compares states and Union Territories on outstanding state guarantees as a share of GSDP. Here's what the FY25 Budget Estimates show

India state fiscal health: Pension burden highest in Himachal Pradesh

A higher ratio means pension spending accounts for a larger part of the revenue available to the state. A lower ratio means pension expenditure takes up a smaller share of revenue receipts

Hormuz crisis adds $22 bn to India's fossil fuel import costs: CREA

In terms of economic impact, India's net additional cost across all fossil fuels was estimated at $14.4 billion, equivalent to 0.38 per cent of its GDP, or about 1.4 days of national income

Will talk to Japan on increasing basmati rice exports from India: Goyal

Commerce and Industry Minister Piyush Goyal said India will take up the issue of greater market access for basmati rice with Japan during a review of the trade agreement

Govt pulls plug on ECLGS just over 3 months after launch; banks in a fix

ECLGS 5.0 was meant to run until March 2027, but its ₹2.5 trillion guarantee allocation was exhausted within months, leaving banks and borrowers with sanctioned but undisbursed loans

Payment aggregators push for fixed and direct share of UPI MDR

The demand is likely to draw resistance, as payment aggregators are not direct members of the UPI network run by the NPCI

Russia remains India's largest crude supplier in August: Kpler data

Russian crude imports are expected at around 2.1 mbpd in August, down from 2.6 mbpd in June and July; fresh US sanctions on Iran are unlikely to have a material direct impact

Focus on critical minerals during PM Narendra Modi's Uzbekistan visit

Bilateral trade rose from $13 billion in 2021 to $60 billion in 2025, while the trade imbalance widened from $6.6 billion to over $50 billion in Russia's favour