Page 474 - Economy & Policy News
GDP numbers for FY24 show discrepancies of Rs 2.59 trillion: NSO data
Discrepancies in the statistical GDP data refer to the difference in national income under production method and expenditure method
 "GDP numbers for FY24 show discrepancies of Rs 2.59 trillion: NSO data")
Singapore firms to invest Rs 31,000 cr in Tamil Nadu during investors meet
Global investors meet 2024 to see significant investment from Singapore in Tamil Nadu's sustainability and infrastructure development
 "Singapore firms to invest Rs 31,000 cr in Tamil Nadu during investors meet")
Health Ministry revises pharma manufacturing rules under Schedule M
New GMP guidelines set to elevate drug quality and industry compliance
 "Health Ministry revises pharma manufacturing rules under Schedule M")
IRDAI eases norms for insurer investment in infrastructure debt funds
New regulation by IRDAI allows greater flexibility for insurers in IDF-NBFC investments
 "IRDAI eases norms for insurer investment in infrastructure debt funds")
'Vibrant Gujarat summits helped state get $55 bn FDI in two decades'
The Vibrant Gujarat Global Summit (VGGS) has grown in tandem with the state economy, and since its humble beginning, it proved to be a gateway for foreign investment in state, industry leaders said
 "'Vibrant Gujarat summits helped state get $55 bn FDI in two decades'")
Delhi's per capita income rises over 14% to Rs 444,768, shows data
The handbook containing data on socio-economic parameters of the national capital was released by the Economic and Statistics department of the Delhi government
 "Delhi's per capita income rises over 14% to Rs 444,768, shows data")
Containing fiscal deficit at 5.9%: Low nominal GDP growth a challenge
The Budget had assumed nominal GDP to grow 10.5 per cent during 2023-24, but advance estimates have projected it to expand by just 8.9 per cent
 "Containing fiscal deficit at 5.9%: Low nominal GDP growth a challenge")
Indians' willingness to spend back at pre-Covid level, shows data
Consumer sentiment in rural India highest since Dec 2019
 "Indians' willingness to spend back at pre-Covid level, shows data")
Agri growth pegged at 7-year low of 1.8% in FY24 due to poor Kharif harvest
However, some experts said the GVA numbers could stand to be revised as the initial estimates are based on extrapolation of figures for five-six months and a final picture will emerge only around Feb
 "Agri growth pegged at 7-year low of 1.8% in FY24 due to poor Kharif harvest")
Govt capex leads investment growth, 'skewed consumption' a concern
Sunil Kumar Sinha, principal economist, India Ratings says that a robust growth in GFCF reflects the sustained focus of the government on capital expenditure
 "Govt capex leads investment growth, 'skewed consumption' a concern")
UN report revises India's GDP projection downward to 6.2% for 2024
Despite revising the growth estimates for 2024 downward by 0.5 percentage points, the report projects a rebound in 2025, with a GDP growth projection of 6.6 per cent
 "UN report revises India's GDP projection downward to 6.2% for 2024")
Govt says pulses area marginally less so far on late kharif harvest
Wheat sowing almost ends with acreage of 33.17 million hectares in 2023-24
 "Govt says pulses area marginally less so far on late kharif harvest")
India's GDP may grow 7.3% in FY24: Govt's first advance estimates
Construction, manufacturing likely key drivers; weak consumption growth among major concerns
 "India's GDP may grow 7.3% in FY24: Govt's first advance estimates")
India's services PMI touches a three-month high at 59 in December
Owing to lower readings in October and November, however, the latest quarterly average was the lowest since the fourth quarter of the financial year 2022-2023
 "India's services PMI touches a three-month high at 59 in December")
USOF may be enlarged and used to boost telecom equipment manufacturing
Live since October 2022, the TTDF aims to fund R&D in rural-specific communications technology applications and develop the telecom ecosystem
 "USOF may be enlarged and used to boost telecom equipment manufacturing")
PFRDA seeks tax parity for NPS contributions with PF contributions
The aspiration is to take it to 14 per cent over the period to encourage wider acceptance of pension
 "PFRDA seeks tax parity for NPS contributions with PF contributions")
The Red Sea conflict: Agri, textile exporters hold back shipments
The cost of freight and insurance has risen due to ships being compelled to avoid the region and take a longer route around the Cape of Good Hope
 "The Red Sea conflict: Agri, textile exporters hold back shipments")
Gold prices slip after pressure from stronger US dollar, treasury yields
Spot gold was down 0.2 per cent to $2,038.49 per ounce as of 1223 GMT. U.S. gold futures fell 0.2 per cent to $2,045.40
 "Gold prices slip after pressure from stronger US dollar, treasury yields")
Indian medtech industry urges govt action to reduce import dependency
According to the Global Trade Research Initiative (GTRI) report from August 2023, the Indian medical devices industry has the potential to expand from $12 billion today to $50 billion by 2030
 "Indian medtech industry urges govt action to reduce import dependency")
India's GDP growth pegged at 7.3% for FY24: Govt's first advance estimates
According to a statement, the growth in real GDP during 2023-24 is estimated at 7.3 per cent compared to 7.2 per cent in 2022-23
 "India's GDP growth pegged at 7.3% for FY24: Govt's first advance estimates")