Page 451 - Economy & Policy News
GST collections rise 10.4% to Rs 1.72 trn in January, second highest-ever
This is the second-highest monthly collection ever and marks the third month in this financial year with a collection of Rs 1.70 lakh crore or more
 "GST collections rise 10.4% to Rs 1.72 trn in January, second highest-ever")
Retail inflation for industrial workers eases marginally to 4.91% in Dec
The All-India Consumer Price Index for Industrial Workers (CPI-IW) for December 2023 decreased by 0.3 points and stood at 138.8 points. It was 139.1 in November last year
 "Retail inflation for industrial workers eases marginally to 4.91% in Dec")
April-Dec fiscal deficit at Rs 9.82 trn, 55% of annual target: Govt
Total expenditure during the period was 30.54 trillion rupees, or about 68% of the annual goal, compared with 28.18 trillion rupees in the same period last year
 "April-Dec fiscal deficit at Rs 9.82 trn, 55% of annual target: Govt")
Govt spending must pursue evidence-based policy for best outcomes
It's important to see the quality of spending and missing gaps in resource provision
 "Govt spending must pursue evidence-based policy for best outcomes")
India, Iran discuss development of cooperation between two countries
Both South Asia and the Persian Gulf have strong commercial, energy, cultural and people-to-people links, the MEA said
 "India, Iran discuss development of cooperation between two countries")
Centre releases advisories, surveys to boost female workforce participation
Key recommendations from the central government's advisories include promoting women in leadership and management roles, crafting gender-neutral job advertisements, among others
 "Centre releases advisories, surveys to boost female workforce participation")
IMF sees heightening prospects for soft landing in Asian economies
With inflationary pressures "receding rapidly," prospects for a soft landing were improving in Asia, he said
 "IMF sees heightening prospects for soft landing in Asian economies")
Odisha govt's anti-tribal schemes only to woo adivasis ahead of polls: BJP
It will focus on preserving and promoting 21 tribal languages in the state, encouraging multilingual education and protecting linguistic rights, officials said
 "Odisha govt's anti-tribal schemes only to woo adivasis ahead of polls: BJP")
World on cusp of last big refining boom as India starts capacity expansion
Expansions in the West are non-existent," said Giovanni Serio, Vitol Group's head of research
 "World on cusp of last big refining boom as India starts capacity expansion")
Govt appoints members for new finance panel to recommend on federal taxes
The panel will submit its report by Oct. 31, 2025 covering a period of five years commencing on April 1, 2026
 "Govt appoints members for new finance panel to recommend on federal taxes")
IMF raises India's GDP growth projection for FY25 by 20 bps to 6.5%
But estimate falls below FinMin's 7% projection
 "IMF raises India's GDP growth projection for FY25 by 20 bps to 6.5%")
New Trai chief A K Lahoti has work cut out as issues pile up with regulator
A former Railways board CEO, he is an unconventional choice to lead the regulator
 "New Trai chief A K Lahoti has work cut out as issues pile up with regulator")
Arabian Sea likely to become 'high risk area' again, says PortsMin
Wrote to MEA, DefMin; traders may have to shell out higher freight, insurance costs
 "Arabian Sea likely to become 'high risk area' again, says PortsMin")
Direct tax to GDP ratio in FY24 likely to be the highest since FY01
Tax buoyancy measures change in tax growth as a result of GDP expansion. Buoyancy at more than one means the GDP growth rate has led to a higher increase in tax receipts
 "Direct tax to GDP ratio in FY24 likely to be the highest since FY01")
Conflict in West Asia remains growing risk for energy markets: J P Morgan
Recent attacks on vessels in the Red Sea by Iranian-backed Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia
 "Conflict in West Asia remains growing risk for energy markets: J P Morgan")
Six Indian markets offer counterfeit products, shows US report
For instance, Heera Panna market reportedly offers counterfeit watches, footwear, accessories, and cosmetics that may have health and safety risks
 "Six Indian markets offer counterfeit products, shows US report")
Priority sector credit target to be Rs 3.97 trn for K'taka in FY25: Nabard
Speaking during the State Credit Seminar for Karnataka at their Regional Office, the NABARD CGM said the estimated credit potential is 10.67 per cent higher than the previous years' credit projection
 "Priority sector credit target to be Rs 3.97 trn for K'taka in FY25: Nabard")
India's capex budget: Experts call for multiyear, data-driven plans
A beginning has already been made with detailed planning for the Indian Railways
 "India's capex budget: Experts call for multiyear, data-driven plans")
New NPS partial withdrawal: Everything you need to know about pension rule
The Pension Fund Regulatory and Development Authority permits subscribers to make partial withdrawals from their saved pension money in the National Pension System for specific purposes
 "New NPS partial withdrawal: Everything you need to know about pension rule")
China threat an opportunity for India-US ties, strong FTA: Congressman Issa
Issa, a Republican Congressman from California, said this during a conversation with Aparna Pande, Research Fellow, India, and South Asia with the think tank Hudson Institute here on Monday
 "China threat an opportunity for India-US ties, strong FTA: Congressman Issa")