Page 414 - Economy & Policy News

Centre, states need to come together on big reforms in labour, land: CII

A survey by CII, he further said, expects the Reserve Bank of India to cut benchmark interest growth in the second quarter (July-September). The RBI has been holding the repo rate at 6.5%

Govt focus on infra to nurture sustained revival in investment: RBI report

The report further said that while the fixed investment and the lower drag from net external demand propelled real GDP growth, private consumption received support from steady urban demand

At Rs 3.1K crore, revenue mop-up of top local bodies of UP soars 33%

According to a former UP Chief Secretary, the rising tax and non-tax revenue from the local bodies augurs well for the urbanisation agenda of the Yogi Adityanath government

Majority of commodities exported to China record positive growth in 2023

These 90 commodities account for 67.7 per cent of India's export basket to China, while 71 products that have registered a negative export growth in 2023 constitute 32.3 per cent, the data showed

Global merchandise trade growth in volume terms may dip 1.2% in 2024: GTRI

Further, GTRI said that India's merchandise export values in 2023 decreased by 5 per cent over 2022, mirroring the global trends

India's economy doing good, efforts needed to sustain it: Sanjeev Sanyal

India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 -- the fastest pace in one-and-half years

Oil consolidates gains amid concerns of worsening Middle East conflict

US Secretary of State Antony Blinken has told Israeli Defense Minister Yoav Gallant that the United States will stand with Israel against any threats by Iran

ADB raises India's GDP growth forecast for FY25 to 7% from 6.7% earlier

The ADB had in December last year projected the Indian economy to expand 6.7% in the 2024-25 fiscal

PLI incentives for FY24 remain at Rs 6,800 crore, far from govt estimates

Singh shared government's plans to make PLI schemes for textiles, bulk drugs, food products, and solar PV modules relatively attractive by adding more product lines and extending the timelines

WTO pares down projected merchandise trade volume growth to 2.6% for FY24

India's merchandise exports in value terms are expected to contract by 1-1.5 per cent in 2023-24 after two consecutive years of growth

China rejects Fitch's ratings of its fiscal outlook, says economy 'stable'

Fitch's report noted that China's general government deficit was forecast to rise this year to 7.1 per cent of its GDP, up from 5.8 per cent in 2023

FPIs in Mauritius to face greater scrutiny after tax treaty revision

Legal experts divided on whether grandfathering will be available for investments before April 2017

Indians spending more on packaged food, eating out as home cooking declines

Spending on processed food by the urban elite consumer more than doubled in FY23; it surged more than threefold for middle-income consumers

As India's GDP growth speeds up, can it drive the global economy?

With China's growth slowing, India could become the new engine of global economic growth, but it will take strategic investments, increased labour participation, and more to achieve its ambitions

PLI for mobiles has choked production growth: Zetwerk's Josh Foulger

It suggested that a PLI 2.0 for mobile phones should be modelled on the revamped PLI for IT hardware so that incentives are linked to value addition to avoid the failures of the first scheme

India likely to get normal monsoon this year: Private forecaster Skymet

Bihar, Jharkhand, Bengal, Odisha may experience a rainfall deficit in Jul-Aug

Ratio of GST collections to GDP is increasing, albeit at a slow pace

GST receipts rose more than GDP growth in nominal terms in the past three years. But buoyancy came down from 1.6 to 1.3 during the period

India-Chile free-trade agreement talks may begin after Lok Sabha polls

A trade deal with Chile will give India greater access to Latin American region

Road ministry capex utilisation in FY24 closes at record high 99.93%

As against the budgetary outlay of Rs 2.645 trillion in FY24, the road ministry has spent Rs 2.643 trillion. By including private investments, the capex goes up to Rs 3.01 trillion

IPEF to organise clean economy investor forum in Singapore in June

The department has invited applications from domestic climate and tech entrepreneurs for participation in the meeting