Page 487 - Economy & Policy News

$5 trillion economy goal for 2025 nearly impossible: Raghuram Rajan

India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the July-September quarter

German firm TÜV SÜD invests 15 mn euros in lab test facility in Bengaluru

TÜV SÜD has 2,500 employees in India out of its total global headcount of over 30,000 employees. In India alone, the company recorded revenues of Rs 500 crore this year

Imports of luxury chocolate brands zoom 45% on steady uptick in demand

According to industry insiders, imports of such luxurious products in India will be driven by the demand for organic, dark, vegan gluten-free and sugar-free chocolates

Piyush Goyal discusses progress of FTA deal during EFTA delegation meet

The primary objective of these negotiations is to establish a "fair, mutually beneficial, and comprehensive" trade deal between India and EFTA

No plan to expand laptop, personal computer import curbs: India tells WTO

India said that industry experts were consulted prior to the notification issued on August 3, and a transition period of three months was provided till October 31

Argentina to devalue peso by more than 50% to help its struggling economy

In recent years, Argentina's central bank has printed more of the peso to help the country's government avoid defaulting on its debt. That has resulted in skyrocketing prices

Sebi extends deadline for AIFs dematerialisation till January 31

Sebi has specified the process to be followed in cases where the investors have yet to provide the demat account details to AIFs

MSME contribution to India's GDP lags pre-pandemic highs, shows data

The share of MSMEs in the country's total output, in terms of gross value added, touched 31 per cent in 2018-19 before declining during the pandemic

IIP surges 11.7% in October; retail Inflation jumps to 5.55% in November

IIP surges 11.7% in Oct; uptick in food prices lifts retail inflation to 5.55% in Nov

Job creation single most important pressure point: Raghuram Rajan

The nation needs to create jobs at every level going along the path of development, said Rajan

Is MGNREGA work demand real sign of distress or problem lies elsewhere?

In FY23, around 87.5 million people worked under the scheme, according to the MGNREGA website. Till December 12 in FY24, approximately 72.6 million people had worked under the scheme

79% employers looking to sustain or increase their workforce in H2FY24

Both new hires, at 79 per cent, and replacement hires, at 74 per cent, are occurring rapidly, indicating a flourishing labour market in the country

Nine states record a higher rate of inflation in November, shows data

India's overall inflation rate is higher than all the advanced economies

Indian officials in Muscat to negotiate free trade pact with Oman

It is learnt that the department of commerce has set an internal deadline of finalising the deal by month-end

Govt re-introduces 3 criminal law Bills after making minor changes

Economic security now part of terrorism definition in redrafted criminal law Bills

AI to Cloud: With eye on the future, smart office boom grows louder

Smart office buildings, which incorporate features such as smart desks, motion sensors, and indoor digital maps, may grow up to 30% in five years

Tax on expat salaries: Japan firm's India unit gets interim relief on GST

The GST authorities had issued a show cause notice to Kanematsu India, demanding over Rs 2.6 crore on reimbursement of expat employees salaries made by the company to the Japanese parent

Rupee ends 1 paisa lower at 83.38 against dollar ahead of US CPI data

The rupee closed at 83.3875 against the U.S. dollar, barely changed from its close at 83.3925 in the previous session. The unit hovered between 83.36 and 83.39 on Tuesday

No GST dues pending, some states have not submitted AG's report: Sitharaman

The narrative that GST dues are pending from the Centre is not correct and is a "misnomer" as states have not submitted AG's report, Union Finance Minister Nirmala Sitharaman said

Fiscal prudence is govt's top priority, says FM Nirmala Sitharaman

The Lok Sabha approved the additional gross spending of Rs 1.29 trillion, which includes net cash outgo of Rs 58,378 crore