Page 346 - Economy & Policy News

Forex reserves jump $5.16 bn to $657.16 bn as of July 5: RBI data

The forex kitty had declined for the previous two consecutive weeks, dropping $1.713 billion to $651.997 billion for the week ended June 28

Modi govt departs from privatisation plans, might overhaul state-run firms

The aim is to raise $24 billion in the current April-March fiscal year and re-invest the funds in the companies

India to clock GDP growth of 7% in FY25: NITI Aayog member Arvind Virmani

Last month, the Reserve Bank of India (RBI) pegged the FY25 gross domestic product (GDP) growth rate at 7.2 per cent

Indians travelling to Qatar will now be able to use UPI for payments

The move will allow UPI payments in Qatar via the QNB merchant network, benefiting Indian travellers visiting and transiting through the country

US inflation cools again, may usher interest rate cuts by Federal Reserve

A brief pickup in inflation early this year had caused Fed officials to scale back their expectations for interest rate cuts

Union Budget 2024-25: Here are the key challenges in the telecom sector

Sector experiencing financial stress due to debt burdens and low average revenue per user

Banks' deposit growth dips to 10.6%; credit growth at 13.9% as on June 28

Credit up by 13.9% Y-o-Y as on Jun 28

Too early to talk rate cut, won't give guidance: RBI Governor Das

RBI guv says expected credit loss norms in final state of examination, should be out in current financial year

Foreign exchange earnings from tourism at 12-month low, shows data

Number of Indians travelling abroad at a multi-year high, shows government data

Indian refiners likely saved at least $10 bn due to discounted Russian oil

Russia started offering its crude at discounted prices after the Western nations imposed cuts on their oil imports from Moscow in a bid to put pressure on the Russian economy over the Ukraine war

GeM procurement hits Rs 1.24 trn in Q1, set to be world's largest in FY25

Government e-Market (GeM) has over 150,000 government buyers and over 6,200,000 sellers and service providers offering a wide range of products and services

Full Budgets tend to realign fiscal deficits set in interim Budgets

Analysis of fiscal trends since 1991 reveals that full Budgets typically reduce fiscal and revenue deficits set in interim budgets, with notable exceptions during economic crises and major reforms

Budget Watch: FinMin confident of sticking to fiscal deficit of 5.1% of GDP

However, this path may not be as easy for the government to tread

India's path to economic success lies in powering services sector: Rajan

The former RBI governor argues that India should prioritise improving education and health care services through decentralisation and local empowerment to achieve better outcomes

Retail inflation for industrial workers eases to 3.86% in May: Govt

The Consumer Price Index-Industrial Workers (CPI-IW) was 3.87 per cent in April 2024, a labour ministry statement said

Need to find out practical solutions of problems facing states: NITI member

Virmani further said in a democracy one has to recognise specific problems and find out pragmatic solutions

Union Budget 2024-25: Here're key challenges in electronics & semiconductor

Increasing domestic value addition and balancing jobs by improving organic competitiveness

Own Account Enterprises rose by 6.5 mn between 2010 and 2023: NSO data

Contrarily, total number of workers employed by OAEs declined by 1.81 million to 67.95 million in this period

From 68k crore, trade deficit in telecom has dropped to 4k cr: Scindia

Telecom gear sales crossed Rs 50,000 crore, exports at Rs. 10,500 under PLI, DoT said

India-EFTA FTA: Goyal to meet Swiss investors on on $100-bn FDI commitment

The minister's visit to Switzerland will also see discussions on the ratification of the trade deal by both sides