Page 458 - Economy & Policy News

Govt imposes 50% export duty on molasses; extends lower duty on edible oils

Move seeks to ensure adequate quantities for ethanol blending and keep inflation in check

Leverage free trade agreements to our benefit, Piyush Goyal tells industry

There were also discussions on the priorities identified in the Foreign Trade Policy (FTP) 2023 and the strategies and measures to be adopted to take forward the export growth

Chinese economy growing, open for business: China's Premier Li Qiang at WEF

Li said China, with a rapidly urbanizing population of 1.4 billion people, would play an important role in boosting aggregate global demand

Auto sector will contribute to India's rise as 3rd largest economy: Pandey

The Ministry of Heavy Industries is overseeing the Rs 25,938 crore Production Linked Incentive (PLI) scheme for Automobile and Auto Components (PLI-AUTO Scheme)

India reinforces status as preferred investment destination at Davos: Govt

India's presence is marked by securing four distinct spaces at WEF, each dedicated to showcasing the India opportunity and its growth story to global investors, it added

Fitch affirms India's long-term FX rating at 'BBB-' with stable outlook

'India is poised to remain one of the fastest-growing countries globally in the next few years as the robust economic momentum is proving resilient,' the ratings agency said

Govt may extend concessional 15% tax for new production units by a year: EY

EY in its Budget expectations report also said that in the interim Budget, the government would continue its focus on ease of paying taxes, while legislative reforms will stay work-in-progress

State govt's borrowing cost begins to ease, declines by 7 bps to 7.65%

For the past two weeks, despite poor supplies states were forced to offer very high returns, which had touched 7.72 per cent last week, the highest in the past two years

Private capital expenditure to pick up in coming years: MPC member Varma

Varma further noted that in the last couple of years, the government has shouldered the burden of investment, while private capital expenditure has been muted

Time to rebuild trust, cooperation with each other: WEF Chair Klaus Schwab

WEF president Borge Brende said, "We have nearly 3,000 participants from more than 125 countries here at the 54th Annual Meeting of the World Economic Forum"

Govt extends low tax on edible oil import by another year to cap prices

Traders and processors will benefit from a zero base import tax until the end of March next year, according to a finance ministry notification

Real, nominal GDP growth, inflation play out differently this time around

This happened because inflation, as viewed by GDP deflators, is expected to be quite lower than initially projected for first time, contrary to what had happened ahead of 3 previous interim Budgets

Can allied sectors save agriculture from the blushes in FY24?

The uneven southwest monsoon ensured that production of almost all kharif crops was down in 2023-24

Govt cuts windfall tax on crude petroleum to Rs 1,700 a tonne effective Tue

On Jan. 2, the government had lifted the windfall tax on petroleum crude oil to 2,300 rupees a tonne from 1,300 rupees a tonne

Rupee, govt bonds gain post lower-than-expected December CPI data

The fall in US Treasury yields and foreign portfolio investor (FPI) inflows further aided rupee and bonds

Higher food prices push WPI inflation to 9-month high in December

This is the second consecutive month that the wholesale inflation rate had remained in positive territory after there was deflation for seven consecutive months till October 2023

Trade deficit falls to three-month low of $19.8 billion in December

Merchandise imports, meanwhile, grew 8.45 per cent to $58.25 billion, boosted by gold imports

German economy shrinks 0.3%, costly energy, higher interest rates to blame

Germany's economy shrank 0.3 per cent last year as Europe's former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labour and a homegrown budget crisis

A slowing domestic mobile phone mkt presents challenges to Meity's targets

In spite of PLI incentives, India's gap with China, Vietnam is not fully bridged, leaving a gap of 4-5%. However, if tariffs are brought down, ICEA estimates that exports will go up to $50 bn by FY27

The Red Sea crisis: Commerce department flags rising import cost

The Red Sea strait is vital for 30 per cent of global container traffic and 12 per cent of global trade