Page 429 - Economy & Policy News

India calls China-backed IFD proposal at WTO as non-trade issue: Official

As per the WTO, the Investment Facilitation for Development (IFD) Initiative, was originally launched in the spring of 2017 by a group of developing and least-developed WTO members

Moderation in industrial growth, agri likely to drag down GDP growth in Q3

Meanwhile, services which are the major contributor to the Indian economy display an improvement in Q3, led by trade, hotels, transport and communication services

India-UK FTA: Goyal, Badenoch meet to decide future course of action

The ministers are expected to hold bilateral talks on the sidelines of the World Trade Organization's four-day summit - the 13th Ministerial Conference -- in Abu Dhabi

Companies line up Rs 16,620 crore corporate bonds as yields soften

Market participants expect that states' borrowing for both the current quarter and the entire financial year will be significantly lower than the calendar projections

WTO: Fisheries subsidies are vital for developing countries, says India

With about 9 million people dependent on the sector, India constitutes 25 per cent of the world's fishermen

Next gen reforms to top third-term agenda, says FM Nirmala Sitharaman

Sitharaman said that among other areas of focus, the government is also going to ramp up investment in the logistics sector which has immense untapped potential along with tourism

RBI consolidates reporting norms for REs, eases compliance burden

Consolidates 21 existing instructions; Audited returns to be filed within five days of signing reports

Digital infrastructure is a modern day factor of production: FM Sitharaman

Sitharaman was speaking at the National Conclave on Viksit Bharat 2047 organised by the Federation of Indian Chambers of Commerce and Industry (FICCI)

India closes in on trade deal with Oman as Mideast ties strengthen

The two sides started talks on the trade pact just three months ago, and their haste in completing the deal shows Prime Minister Modi's determination in building stronger links with the Middle East

Govt forms panel headed by T V Somanathan to finalise uniform KYC norms

"The committee has been constituted. Different government departments and FSDC members are part of it," a senior official said

Govt on course to achieve small savings scheme collection target for FY24

The government's cash balance is not high too, as borrowings are complete, and it is carrying a modest cash balance to meet its commitments, government sources said

India may face 10.5% VAT on production under CBAM regime: ADB study

Sectors like ferrous metals, electricity, petrochemicals expected to be worst impacted

Coal sector contributes Rs 70,000 cr every yr to Centre, states: Govt

The coal sector contributes over Rs 70,000 crore every year to the Centre and states, through GST, royalties and other levies, the government said on Monday.

Food weighting in CPI may be cut as spending shifts, says official

Food's weighting in the consumer price index could be lowered in the next revision of the basket of goods due to be completed by next year, the official who declined to be identified told Reuters

Real GDP growth likely expanded by 7% in December quarter: Report

The official data on quarterly growth will be released on February 29. In the three months ended September 2023, the economy had clocked a 7.6 per cent growth

Govt mulls export tax on low-grade iron ore amid call to curb overseas sale

Indian iron ore exports touched 32.2 million metric tons during the first nine months of the current fiscal year that began in April 2023 - worth $2.7 billion - from 9.5 million tons a year ago

Economic growth likely slowed to 6.6% as agriculture lagged: Poll

Strong capital expenditure by the Indian government ahead of a national election due in May was a primary driver of growth in the previous few quarters

Govt seeks solution to long-pending food stockpile issue at WTO meet

Trade ministers of 164 WTO-member countries are gathering in Abu Dhabi for the 13th ministerial conference (MC13). The highest decision-making body started the four-day meet on February 26 in the UAE

Yellow peas import allowed after registration under monitoring system: DGFT

The Directorate General of Foreign Trade (DGFT) said the import is permitted without the MIP (Minimum Import Price) and port restriction conditions

Govt's dividend income from RBI in FY25 to be similar to FY24: Report

For fiscal 2025, the government has budgeted a 1.02 trillion rupees surplus transfer from RBI and public sector banks, but had not provided a break-up between the two in the budget