Page 460 - Economy & Policy News

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

Cost of Indian exports more than doubled due to Houthi attacks in Red Sea

Around 80% of India's goods trade with Europe, estimated at nearly $14 billion a month, normally passes via the Red Sea, according to government estimates

Davos 2024: India on cusp of FDI flood, says Bajaj Finserv's Sanjiv Bajaj

'Ten years of this growth we have seen, at least another five years of a strong majority government will end up institutionalising those policies to a fair extent,' Bajaj said in an interview in Davos

Exports marginally up at $38.45 bn in December; trade deficit narrows

Imports declined by 4.85 per cent to $58.25 billion in December last year due to a dip in crude oil shipments

Softer core inflation data drives India 10-year bond yield to 4-month low

U.S. yields eased last week after December producer prices data fell unexpectedly, raising bets of an early interest rate cut by the Federal Reserve

IT services, BPO exports grew over 12% to touch $193 billion in FY23: ESC

The IT software/services chunk accounted for the bulk of this at USD 126 billion, followed by BPO services (USD 52 billion)

Income tax benefits granted to 2,975 recognised startups: DPIIT

'The number of startups getting income tax benefits was 1,100 till March 2023 and now it has increased to 2,975 startups,' Joint Secretary, DPIIT Sanjiv told reporters

Quality workforce, investment in R&D essential to become 'developed nation'

Given the size and scale of our country, we need a large number of quality R&D workforce to drive the science and technology landscape of the country

Will interim Budget 2024 revive demand and investment?

The interim Budget 2024-25 on February 1 will likely see the central government boost investment, while still sticking to the fiscal consolidation path

Govt has remained dedicated to poor in last 10 years, says PM Modi

''The budget of many welfare schemes for the Scheduled Tribes has risen by five times and the scholarship for tribal students has grown by two-and-a-half times in the last 10 years,'' he said