Page 478 - Economy & Policy News

With localisation, electronics manufacturing to be $115 bn in 2024: Report

The production of mobile phones, the poster boy of the country's electronics manufacturing, is expected to surpass USD 50 billion by March 2024 from around USD 42 billion

US jobs numbers to show payrolls increase by 170k, eases pay growth

The median forecast in a Bloomberg survey of economists also calls for a 3.9% increase in average hourly earnings from a year earlier, the smallest annual gain since mid-2021

India to be fastest-growing economy in 2024 after withstanding headwinds

The growth momentum is expected to sustain in the December quarter, making India the fastest-growing major economy in the world much ahead of China

Demand uptick, easing inflation to provide advantage to exports in 2024

International trade experts have expressed hope that the services sector would perform better than merchandise and the country's overall outbound shipments may touch over $900 billion in 2024

Focus on workforce boost in health sector considering global demand: Govt

The Minister of State (MOS) for Health also reiterated that there is no need to fear the JN.1 subvariant of coronavirus but states have been asked to be alert about its spread

Arunachal govt inks pact for Rs 13k cr hydropower project in Lohit basin

State Hydropower Commissioner Ankur Garg and THDCIL's director (technical) Bhupender Gupta signed the agreement on behalf of the two sides. Chief Secretary Dharmendra presided over programme

At least 28 countries plan to participate in Vibrant Gujarat summit: Govt

The countries that agreed to join as partners are Australia, Bangladesh, Czech Republic, Egypt, Estonia, Finland, Germany, Indonesia, Japan, Kenya, Malaysia, Malta, Morocco among others

Exports to Australia see upward trend, owing to duty concessions under ECTA

Government officials said that there has been an uptick in exports of products, where duty concessions have been given under the trade deal

States' indicative borrowing for fourth quarter higher than forecast

The government transferred the amount to states as tax devolution for financing various social welfare measures and infrastructure development schemes

Forex reserves recover after a year of decline, RBI adds $58 bn this fiscal

The total reserves in the recent week increased due to the $4.6 billion rise in foreign currency assets

Lending rates decline in Nov while deposit rates harden: RBI data

The WALR on outstanding rupee loans of SCBs was at 9.80 per cent in November 2023 as against 9.84 per cent in October 2023 and 9.83 per cent in September

India seeks bargains against UK's carbon border tax as part of FTA

Both countries hope to finalise the deal by February, before the Lok Sabha election in India

Core sector output growth slowed to a six-month low of 7.8% in Nov

Madan Sabnavis, chief economist at Bank of Baroda, said core sector growth in November showed steady growth and the slight moderation had been due to base effects

Residential realty momentum in 2023 strongest in decade as demand picked up

Latest Anarock Research data indicates that housing sales in the top seven cities have created a new peak in 2023, an all-time high

Govt's prudent fiscal policy to support economic growth: FinMin review

The FinMin report also highlighted that the relatively stable Indian rupee against the US dollar and other prominent currencies, and adequate foreign exchange reserves, add to the optimism

Delayed Central infrastructure projects down for second month in a row

Cost overrun maximum for transport sector

Fiscal deficit contained at 50.7% of FY24 budget estimate in Apr-Nov

The Government, CGA data indicates, is moving towards fiscal consolidation, with improved tax collections compared to the April-October period and compressed capital expenditure

Energy surge: Oil and gas sector set for good growth in FY24, FY25

Natural gas consumption to rise 10-15% this financial year, driven by CGD

Gold price sits above $2,000 per ounce, heading for best in last 3 years

Gold investors anticipate record-high prices next year, when the fundamentals of a dovish pivot in U.S. interest rates are expected to support the market

Mega events lined up ahead to elevate India's position globally: Goyal

The planned lineup of mega events commences with the Aatmanirbhar Bharat Utsav scheduled from January 3-10 at Bharat Mandapam in the national capital