Page 387 - Economy & Policy News

India exports over 45,000 tonnes onion after lifting ban, says official

The world's biggest vegetable exporter banned exports of the bulb last December and then extended it in March, after a rise in prices triggered by sluggish production

Windfall for govt as RBI transfers record Rs 2.1 trillion for FY24

Higher income both from domestic and foreign assets; Increases contingency buffer to 6.5%

Financialisation of household savings can fund private capex: Goldman Sachs

The report titled 'Changing Contours of Indian Household Savings' notes that within financial savings, allocations are shifting from banks to non-banks, especially into retirement savings

Net FDI declines by 62% to $10.5 billion in FY24, shows RBI data

At $10.58 billion, this is lowest net FDI into the country since 2007; Gross FDI stable at $71 billion

CITU writes to labour ministry seeking release of AICPI-IW figures

The CPI-IW figures have not been released for the months of February and March, and the labour bureau has not given any explanation for not releasing the indices on the stipulated dates

Reserve Bank board approves transfer of Rs 2.11 trillion surplus to govt

The expert committee had suggested maintaining the risk provisioning within a range of 5.5 per cent to 6.5 per cent of the RBI's balance sheet under the Contingent Risk Buffer

Why is India a developing, not developed nation? Amitabh Kant answers

Former Chief Executive of NITI Aayog Amitabh Kant's comments coincide with a recent forecast by global brokerage Jefferies that predicted India's GDP to hit $5 trillion in the next four years

Inflation seen closer to target in FY26: RBI's state of the economy report

The report says there is a growing optimism that India is on the cusp of a long-awaited economic take-off

Laptop, tablet imports from China surged 47% to $273.6 million in March

With the import monitoring system now in place, the government is able to collect data about specific products coming in from different sources

Govt continues curbs on import of unregistered IT, electronic goods

Rules referred to 2012 have been replaced with 2021 and there is no change in policy, says senior government official

FM Nirmala Sitharaman asks ICAI to set up 'Big 4'- like Indian firm

Interacting with the ICAI in Patna, Sitharaman sought a commitment from them to start work on the same as part of their 100-day agenda for Viksit Bharat by 2047

Govt asks state-run oil refiners, RIL to jointly negotiate Russia oil deal

Reliance is unlikely to share sensitive information with the state oil refiners given they're competitors in the domestic fuel market

Outward remittances under LRS hit new high of $31.73 bn: RBI data

The remittances have seen a continuous increase in the last 10 years owing to improved per capita income in the country

Tourism's share in global GDP to return to pre-Covid levels this year: WEF

India soars to 39th, sole South Asian nation in top 50: WEF

Good food journey: How India can build on gains from the year of millets

Year of millets over, we need to dedicate a decade to these grains to build on the gains of 2023

Ireda to issue FPO this financial year to support its growing size

IREDA launched its initial public offering (IPO) in December 2023 and debuted on Dalal Street after two failed attempts over the last decade

NRI deposit flows up 63.5% to $14.7 bn in FY24, the highest in 8 years

FCNR deposits were at $25.73 billion in March 2024, up from $24.90 billion in February 2024. This was higher than the $19.36 billion at the end of March 2023

Manufacturing share in capital formation down between FY19 and FY23

The report notes that the share of public administration and defence improved, attributable to increased government spending

India on cusp of long-awaited economic take-off: RBI monthly bulletin

The outlook for global economy is turning fragile as descent of inflation is stalling, re-igniting risks to global financial stability, said an article on 'State of the Economy' published in Bulletin

Household savings likely to rise in FY24, liabilities to moderate: CRISIL

It can be noted that official data released last year showed a dramatic fall in India's net financial household savings rate to a 47-year-low of 5.3 per cent from 7.3 per cent in FY22