Page 364 - Economy & Policy News
Unemployment rate rises to 8-month high of 9.2% in June: CMIE data
Rural areas continue to experience higher unemployment rates, with joblessness growing to 9.3 per cent in June 2024 from 6.3 per cent in May 2024 and 8.8 per cent in June 2023
 "Unemployment rate rises to 8-month high of 9.2% in June: CMIE data")
As crude oil prices rise, rupee falls 5 paise to 83.54 against US dollar
Forex traders said a positive trend in domestic equities, wherein benchmark indices touched all-time high levels and significant foreign fund inflows supported the rupee and restricted the fall
 "As crude oil prices rise, rupee falls 5 paise to 83.54 against US dollar")
Not politics, not interest rates: India's economy at risk from water
The shortages are affecting rural and urban Indians alike, disrupting agriculture and industry, stoking food inflation and risking social unrest
 "Not politics, not interest rates: India's economy at risk from water")
World at cusp of ushering India era as we gain developed status: NK Singh
The world is at the cusp of ushering in an India era as the country's growth trajectory moves towards a developed nation status by 2047, leading economist and policymaker N K Singh has said.
 "World at cusp of ushering India era as we gain developed status: NK Singh")
GPAI members reaffirm commitment to human-centric, reliable AI to all
The mid-year summit of the GPAI members welcomed Serbia as incoming chair of grouping
 "GPAI members reaffirm commitment to human-centric, reliable AI to all")
India initiates anti-dumping probe into import of Chinese lift guide rails
Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports
 "India initiates anti-dumping probe into import of Chinese lift guide rails")
India pitches for strengthening quality standards for spices at global meet
According to an official statement, India, as a member elected on a geographic basis (Asia), is participating in the 86th session of the Executive Committee (CCEXEC) of Codex Alimentarius Commission
 "India pitches for strengthening quality standards for spices at global meet")
Fed officials at last meeting saw price pressures in decline, minutes show
Data released on June 12 showed the CPI had not risen at all in May on a month-to-month basis
 "Fed officials at last meeting saw price pressures in decline, minutes show")
From fighters to copters, how R&D powers HAL's Himalayan-altitude flight
In the first of a two-part series on India's indigenous aerospace industry, Business Standard traces HAL's pioneering research and development
 "From fighters to copters, how R&D powers HAL's Himalayan-altitude flight")
Budget FY25: MSMEs may get 180 days to repay loans before NPA tag
Current bad loan classification period is 90 days
 "Budget FY25: MSMEs may get 180 days to repay loans before NPA tag")
GST revenues: The fate of the compensation cess amid Centre-state row
There's no reason for the cess to be retained in its current form. That's because the cess rates themselves are monstrously complicated, varying not only in magnitude but also according to end-use
 "GST revenues: The fate of the compensation cess amid Centre-state row")
India's rating upgrade likely in 2 years if fiscal deficit falls to 4%: S&P
The central government estimates to bring down fiscal deficit to 5.1 per cent of the GDP in the current fiscal, from 5.63 per cent in 2023-24
 "India's rating upgrade likely in 2 years if fiscal deficit falls to 4%: S&P")
Poverty declines to 8.5% in 2022-24 from 21.2% in 2011-12: NCAER paper
The paper titled 'Rethinking Social Safety Nets in a Changing Society', authored by Sonalde Desai of NCAER, used data from the newly completed Wave 3 of the India Human Development Survey
 "Poverty declines to 8.5% in 2022-24 from 21.2% in 2011-12: NCAER paper")
June services PMI rises on back of new orders, international sales
'Staffing levels' increase at fastest pace since August 2022, according to survey
 "June services PMI rises on back of new orders, international sales")
Tier-II,-III cities can contribute to Karnataka's economic growth: CII
The 'Beyond Bengaluru' initiative is expected to empower Tier-II and Tier-III cities by enhancing the ease of doing business, implementing skilling programmes, and promoting energy efficiency
 "Tier-II,-III cities can contribute to Karnataka's economic growth: CII")
Rs 44k cr push for India-made global brands in electronics, semiconductor
A key distinction in the task force's proposal is its focus on benefiting Indian companies exclusively, a departure from the PLI scheme that involves significant participation from global players
 "Rs 44k cr push for India-made global brands in electronics, semiconductor")
RBI governor Das asks banks to strengthen governance, risk management
The governor also noted the continued improvement in banks' asset quality, loan provisioning, capital adequacy, and profitability
 "RBI governor Das asks banks to strengthen governance, risk management")
Centre may hike transfers to farmers under PM Kisan, MGNREGA: Elara Capital
It added that the Centre is likely to retain the fiscal deficit target of 5.1 per cent for 2024-25 with a possibility of a downward revision of 10 basis points
 "Centre may hike transfers to farmers under PM Kisan, MGNREGA: Elara Capital")
GST Council decisions to be incorporated in the Finance Bill: CBIC Chief
CBIC Chairman Sanjay Kumar Agarwal said at the 53rd GST Council meeting rate rationalisation was proposed on some goods and services
 "GST Council decisions to be incorporated in the Finance Bill: CBIC Chief")
US weekly unemployment claims rise, pointing to labour market slowdown
Initial claims for state unemployment benefits rose 4,000 to a seasonally adjusted 238,000 for the week ended June 29, the Labor Department said on Wednesday
 "US weekly unemployment claims rise, pointing to labour market slowdown")