Page 332 - Economy & Policy News
India could be $55 trillion economy by 2047 with 8% growth: IMF official
Krishnamurthy V Subramanian says India can achieve the feat if the country can keep the inflation below 5%
 "India could be $55 trillion economy by 2047 with 8% growth: IMF official")
Changing profile of India's medical tourism exports amid Bangladesh unrest
The quality and affordability of India's healthcare market make it a top choice for people from developing nations. But recent political unrest in Bangladesh may affect India's medical tourism exports
 "Changing profile of India's medical tourism exports amid Bangladesh unrest")
Fresh formal hirings face marginal decline in June, shows EPFO data
The data is signalling a slowdown in the formal labour market
 "Fresh formal hirings face marginal decline in June, shows EPFO data")
Trade groups gives suggestions for Rising Rajasthan investor summit
Prime Minister Narendra Modi will inaugurate the summit
 "Trade groups gives suggestions for Rising Rajasthan investor summit")
China leaves key lending benchmarks unchanged, in line with expectations
China surprised markets by cutting major short- and long-term interest rates in July, its first such broad move in almost a year, signalling policymakers' intent to strengthen economic growth
 "China leaves key lending benchmarks unchanged, in line with expectations")
Cautious monetary policy needed if food inflation persists: RBI paper
Untenable to treat food price fluctuations 'transitory' in monetary policy settings: Report
 "Cautious monetary policy needed if food inflation persists: RBI paper")
Focus on deposits, strengthen cybersecurity: FM Sitharaman to banks
The FM also met top officials of regional rural banks in a separate meeting, where banks were asked to expedite one state-one RRB initiative
 "Focus on deposits, strengthen cybersecurity: FM Sitharaman to banks")
RBI deputy guv Rao bats for need to periodically raise deposit insurance
An alternative targeted insurance approach with full coverage for certain sections of customers like small depositors and senior citizens can be explored
 "RBI deputy guv Rao bats for need to periodically raise deposit insurance")
Net foreign direct investment rises to $6.9 billion in Q1, shows RBI data
Manufacturing, financial services, communication services, computer services, and electricity and other energy sectors accounted for about 80 per cent of the gross FDI inflows
 "Net foreign direct investment rises to $6.9 billion in Q1, shows RBI data")
Private capex could increase to Rs 2.45 trillion in FY25, says RBI study
According to the RBI, the infrastructure sector continued to attract the major share of envisaged capital investment, led by the 'roads & bridges' and 'power' sectors
 "Private capex could increase to Rs 2.45 trillion in FY25, says RBI study")
Yen rises sharply, euro touches its highest this year as dollar retreats
The minutes of the Fed's July meeting, due on Wednesday, and Powell's speech on Friday are likely to be the main currency drivers in a week that will also see inflation data from Canada and Japan
 "Yen rises sharply, euro touches its highest this year as dollar retreats")
Why it makes sense for food prices to be cut out of RBI's inflation target
Officials are depressingly hesitant to touch anything to do with food production and prices, since these are particularly sensitive politically
FM to discuss bad loans taken over by NARCL with PSBs, RRBs on Monday
Sitharaman had last chaired a meeting with heads of PSBs in December 2023
 "FM to discuss bad loans taken over by NARCL with PSBs, RRBs on Monday")
Govt pushes for extension of key export-boosting Rodtep and IES schemes
Commerce dept officials to meet FinMin soon; more allocation may be needed
 "Govt pushes for extension of key export-boosting Rodtep and IES schemes")
Jammu and Kashmir's economic landscape: Of progress and challenges
But the region spends a considerably higher amount on generating assets relative to its economic size compared to the average seen in other states
 "Jammu and Kashmir's economic landscape: Of progress and challenges")
Workplace safety key to get more women in labour force: IMF's Gita Gopinath
IMF's Gopinath wants govt to conduct cost-benefit analysis of PLI scheme
 "Workplace safety key to get more women in labour force: IMF's Gita Gopinath")
UP to pitch itself as 'global sourcing hub' in international trade summit
"Buyers and importers from 72 countries across continents including Europe, Africa, North America, Latin America and Oceania are expected to participate in the five-day event," a senior official said
 "UP to pitch itself as 'global sourcing hub' in international trade summit")
India, Aus to resume comprehensive FTA talks on Monday; progress expected
Both countries have already implemented an interim pact and are in discussions to expand its scope under the CECA (Comprehensive Economic Cooperation Agreement)
 "India, Aus to resume comprehensive FTA talks on Monday; progress expected")
Domestic exporters keep fingers crossed amid Mpox outbreak in Africa
According to exporters, though the spread of the disease is contained in certain countries, it would be a challenge, if it spreads to more nations
 "Domestic exporters keep fingers crossed amid Mpox outbreak in Africa")
CM Chandrababu Naidu meets PM Modi, seeks financial support for Andhra
Andhra Pradesh Chief Minister N Chandrababu Naidu also met Union Finance Minister Nirmala Sitharaman and discussed issues related to his state
 "CM Chandrababu Naidu meets PM Modi, seeks financial support for Andhra")