Page 416 - Economy & Policy News

India to stop importing urea by end of 2025, says Mansukh Mandaviya

He noted that India needs around 35 million tonnes of urea annually to meet domestic demand

Subramanian's remark on 8% growth projection for India not ours, says IMF

Subramanian, at a event in New Delhi on March 28, had said Indian economy could grow at 8 per cent till 2047, if the country redoubles the good policies

Govt aims 7-fold jump in wheat procurement from UP, Rajasthan, Bihar

Since October, the Centre has been working with these three states to increase the procurement level

India has given over $1 bn to private firms under PLI scheme: Official

The 1.97-trillion-rupee ($24 billion) production-linked incentive scheme (PLI) is India's key industrial policy and covers 14 sectors ranging from electronic products to drones

Ahead of 2024 Lok Sabha elections, taming food prices govt's priority

Food prices have a direct bearing on poll preferences of the voter and in the past there have been instances when governments have been voted out due to rising food inflation

Vegetarian thali became costlier in March, non-veg cheaper: Report

Onion prices could lead to vegetarian thali prices increasing later, says CRISIL

Record demand for exports spurs India's services PMI to 61.2 in March

HSBC Bank survey says 'buoyant demand' led to a 'cascade of positivity for the sector'

Ships in Iran, Venezuela shadow trade supplied Russian oil to India

Supplies of Russian oil to India are arriving on vessels that were earlier used to ply crude oil produced by Iran and Venezuela, both of which have been under US sanctions for years

India to lose 5.8% of daily working hours amid heat stress in 2030: UNESCAP

The report also mentions that climate change will contribute to the spread of disease, leading to lower government revenues and higher spending requirements

RBI defers implementing rules on exchange-traded forex derivatives to May 3

RBI said the regulatory framework for participation in ETCDs involving the Indian rupee (INR) is guided by the provisions of the Foreign Exchange Management Act (FEMA), 1999

Secretaries in a huddle to prepare five-year roadmap of next govt

Full-year Union Budget to lay out Viksit Bharat vision

Battery cell demand for EVs to rise, India's reliance on imports continues

S&P Mobility said that while Maruti has a tiny EV market share, its battery cell demand is expected to be 20 per cent by 2035, as against Tata Motors at 22 per cent

Meity chips away at doubts, defends its domestic semiconductor policy

Govt's sequential approach targets mature nodes, foreseeing a conservative $100 billion chip demand in five years

GenAI, GCCs to help boost Indian economy in coming years: Deloitte

The report pointed out a close connection between technological adoption and accelerated economic growth

RBI delays implementing rules on exchange-traded derivatives till May 3

"In view of feedback received and recent developments, it has been decided that these directions will now come into effect from Friday, May 03, 2024," RBI said

PM Modi sets ambitious India economic goals for probable third term

For the next six years, Modi's goal is to raise per capita income to $4,418 from around $2,500, the document says, without specifying the spending or reforms needed to achieve that

CBDT enables ITR e-filing portal for FY24; 23,000 returns filed in 4 days

Facility to file ITRs 3, 5 and 7 will be made available soon

Rakesh Mohan appointed a member of World Bank economic advisory panel

Currently, Mohan is serving as president emeritus and distinguished fellow at CSEP and is also part-time member of the Prime Minister's Economic Advisory Council

Govt bond yields little changed ahead of Friday's key interest decision

The benchmark 10-year bond yield ended at 7.0934%, following its previous close of 7.1030%

Services PMI registers strongest growth in 13.5 yrs, rises to 61.2 in Mar

In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction