Page 403 - Economy & Policy News

Slowdown in mining output drags IIP growth to 4.9% in March: Govt data

The IIP had grown by 1.9 per cent in March 2023

RBI appoints R Lakshmi Kanth Rao as executive director effective May 10

As executive director, Rao will handle the Deposit Insurance and Credit Guarantee Corporation (DICGC), the Right to Information Act (FAA), and the Department of Communication

IIP growth slows marginally to 4.9% in March; grows 5.8% in FY24

The manufacturing sector's growth accelerated to 5.2 per cent in March compared to 1.5 per cent a year ago

Forex reserves jump by $3.66 billion to $641.59 billion, shows RBI data

The overall kitty dropped $2.412 billion to $637.922 billion for the previous week ended April 26

17 firms under IT hardware PLI to start production this year: IT secy

The government in November, 2023 approved the application of 27 companies, including Dell, HP, Foxconn, Lenovo, Netweb Technologies, under new production-linked incentive (PLI) scheme

India received $111 bn in remittances in 2022, highest by any country: UN

Three countries in Southern Asia - India, Pakistan and Bangladesh, rank among the top ten recipients of international remittances in the world

IDBI Bank stake sale: FinMin in talks with RBI to hurry vetting process

Govt hopes to conclude transaction by FY25-end

Europe, US companies back India for derisking from China: Survey

The other key emerging markets, the survey said, are southeast Asia, where 60 per cent of the respondents were willing to put in 50 per cent more investment in the next three years

Govt projects biggest power shortfall in 14 years, races to curb outages

The deficit also follows delays, a government source said, in the commissioning of 3.6 gigawatts (GW) of new coal-fired plants which had been targeted to be operational before March

India's fiscal deficit for FY24 likely to be better than expected

Govt capex for the last financial year also in line with projections, say sources

Prices of pulses stable, vegetables witness rise in last one month

Traders and market players said that going forward, vegetable prices will continue to rule firm as heat wave singes supplies

Indian PE, VC investments decline 35% to $39 billion in 2023: Report

The private equity (PE) investments in India dropped by 18 per cent to USD 29.6 billion from a peak value of USD 36 billion in 2022

Exim Bank expects 12.3% growth in exports during Apr-Jun quarter to $116 bn

The positive growth in India's exports could be the result of the country's GDP growth fundamentals and outlook, and sustained momentum in the manufacturing and services sector, it added

Reserve Bank of India repurchases govt bonds worth Rs 10,512 crore

Most of the funds were picked up by state-owned banks and insurance companies, said market participants

Indian Tea Association raises concerns over lower production, prices

Citing Tea Board data, the association said that North Indian tea production from January to March 2024 was down by more than 21 million kilograms

FY24 fiscal deficit seen slightly better than projected Rs 17.4 trn: Report

India's income tax receipts rose 17.7% year-on-year to nearly $235 billion in 2023/24, higher than government's projection

UAE top destination for India migrants, hosts 3.47 million: UN report

India received more than $111 bn in remittances in 2022, the largest such amount

A veg thali cost 8% more in April this year than a year ago: CRISIL

Non-veg thali becomes cheaper; pricier onion, tomato and potato push up price of veg thali

Consumer price inflation likely slipped in April, food inflation sticky

V Anantha Nageswaran, the government's chief economic adviser, said on Wednesday the Indian economy was better placed than before to pursue 'non-inflationary' growth

FinMin to discuss RBI's draft project financing norms with banks, IBA

The official said banks will assess the impact of the draft rules on their balance sheets and can approach the RBI based on their assessment