Page 380 - Economy & Policy News

India's May factory growth slips to 3-month low, but remains sturdy: PMI

The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, dipped to 57.5 in May from April's 58.8, below a preliminary estimate of 58.4

Test of endurance: Narendra Modi's second lap outruns Manmohan Singh's

But 10-year returns finish line still elusive

MPC likely to maintain status quo for eighth time in a row: BS poll

Respondents cite moderate inflation data, outlook for food prices, high growth

Post FAME-II: EV sales dip on incentive cuts, polls, and hybrid shift

Sector experts suggest that the sharp decline could be due to a combination of factors such as changes in government policies, customers shifting interest towards hybrids, and general elections

Tax dispute intensifies over marketing and ad expenses of MNC subsidiaries

The tax authorities argue that these AMP expenses incurred by MNC subsidiaries enhance the value of trademarks or brands owned by the foreign parent entities

Manufacturing telecom gear in India may get a Rs 3,000 crore push

TTDF aims to fund R&D in rural-specific communication technology applications

CBIC steps up its vigil over imports of unbranded gold jewellery

Amid spurt in seizures of gold jewellery; monitor gold shipments under free trade pact

India's CAD may show dip in Q4 as net exports hit 11-quarter high

IDFC First Bank in a recent report said in FY25, it estimates CAD at 1.3 per cent of GDP compared to 0.7 per cent of GDP in FY24

MPS norm: FinMin may extend August deadline for PSBs, insurance firms

Five PSBs are planning to reduce government stake to less than 75%

As order book grows, capital goods, engineering cos firm up capex plans

Nine of the large engineering and capital goods companies combined have a capex of roughly Rs 11,500 crore or more under way

Monetary policy: RBI unlikely to cut interest rate on June 7, say experts

The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7. The decision will be announced on June 7

India's power usage rises 15% to 156.31 bn units in May due to extreme heat

The highest supply in a day (peak power demand met) also rose to an all- time high of 250.07 GW in May 2024 against 221.42 GW in the year-ago month

India receives highest FDI from Singapore in 2023-24, Mauritius follows

Though FDI from Singapore has dipped by 31.55 per cent to $ 11.77 billion in 2023-24, India has attracted the maximum inflows from that country

GST collection soars 10% to Rs 1.73 trn in May, FY25 mopup at Rs 3.83 trn

Trend indicates tax collection to remain above Rs 1.7 trillion during the fiscal year

GST collection rises 10% to Rs 1.73 trn in May on higher revenues

"The gross Goods and Services Tax (GST) revenue for the month of May 2024 stood at Rs 1.73 trillion," the ministry said in a statement

India Q4 GDP data: Big-bang ending for FY24

The data for the fourth quarter takes FY24's GDP growth to 8.2 per cent Y-o-Y, which is 0.4 percentage points higher than our projected estimate for the year

ATF price reduced significantly by 6.5%, commercial LPG down by Rs 69

The reduction follows a marginal 0.7 per cent (Rs 749.25 per kl) increase on May 1

Govt cuts windfall tax on petroleum crude to Rs 5,200 per MT from Rs 5,700

The tax, which is revised every fortnight, remains unchanged at zero for diesel and aviation turbine fuel

Reserve Bank of India cancels 10-year green bond auction for first time

Market refuses to pay greenium; rupee falls to 2-week low on poll jitters

Georgia reaches out to India to begin free-trade agreement talks

India and Georgia have discussed the possibility of a trade deal for over seven years now