Page 324 - Economy & Policy News

Rupee at closing low; RBI intervention prevent from touching 84 per dollar

The local currency settled at 83.97 per dollar on Tuesday, almost flat compared to the previous close. The previous record low of 83.97 was hit on August 13 of the current year

E-gaming, cryptos add little in terms of social value: CEA Nageswaran

The CEA said that imposing these costs on micro, small, and medium enterprises (MSMEs) before they can stand on their own feet would be counterproductive

India's current account deficit may widen to 1% of GDP in Q2FY25: Ind-Ra

According to India Ratings and Research, India's current account deficit (CAD) is expected to rise to 1% of GDP in Q2FY25, with a 1% increase in merchandise exports and a widening goods trade deficit

Ethanol push turns India into corn importer, shaking up global mkt

India usually exports 2 million to 4 million metric tons of corn, but in 2024, exports are expected to drop to 450,000 tons

India's services sector growth surges to 5-month high in August: PMI

India August service PMI: The PMI climbed to 60.9 in August, fuelled by by increase in new domestic orders

Trai's anti-spam push: 50 firms blacklisted and 275,000 lines cut by telcos

Trai has introduced new regulations requiring telecom operators to block promotional calls originating from unregistered sources after receiving over 790,000 complaints about spam calls

GST Council to meet on Sept 9; compensation roadmap may stretch into FY26

GST Council agenda includes tax relief for foreign airlines, and clarity on a host of items such as car seats

World Bank urges India to reconsider RCEP stance for $1 trn export goal

On the issue of the carbon border adjustment mechanism (CBAM), World Bank economist Nora Dihel said that it was a big export potential for India

Finance ministry to sell 6.78% stake in GIC Re for Rs 4,700 crore

Stake sale for non-retail investors begins on Wednesday, retail investors to bid on Thursday

FM Sitharaman meets road, telecom ministries to review budgeted capex plans

This was the first, in a series of meetings by the FM, to take stock of the progress being made by ministries with significant capital outlays in the coming days, the press statement added

Small industries struggle as power prices continue to climb across India

Despite lower fuel costs, electricity prices for small industries have surged across major Indian states, threatening their viability and hampering their capacity to generate employment

To facilitate taxpayers in invoice matching, GSTN to launch IMS from Oct 1

In an advisory to Goods and Services Tax (GST) payers, GSTN said to enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal

E-governance journey in CBIC: Moving towards development outcomes

As the IT system became more scalable, it not only led to better compliance but also made CBIC future-ready and resilient

World Bank raises India's FY25 GDP growth forecast to 7% from 6.6% earlier

Country has made success despite adversity, says report

India lags in filling void left by Chinese export retreat: World Bank

India's share of global apparel exports has decreased from 4 per cent in 2018 to 3 per cent in 2022, mainly due to rising production costs and declining productivity, according to the World Bank

World Bank follows IMF. Revises India's FY25 GDP growth forecast to 7%

The International Monetary Fund had earlier also raised India's growth forecast to 7 per cent for the financial year 2024-25 (FY25), following the conclusion of general elections in the country

Demand for work under MGNREGS drops for 10th consecutive month in August

Nearly 19 million individuals requested work under MGNREGS, showing a 17 per cent decrease compared to the same period last year

Centre okays Rs 14,000-crore for 7 new schemes to boost farmer income

Seven new schemes aim to leverage technology, crop science in agri sector

EOU's B-17 bond serves purpose of continuity bond under IGCR Rules

Rajagopalan answers SME queries related to GST, export and import matters

Nitin Gadkari wants states to pitch for GST cut on flex-fuel vehicles

'Biofuel share will be 50% of fossil fuels in 5 yrs'