Page 494 - Economy & Policy News

Overseas education: Canada pips US as most favoured destination for Indians

UK registered the highest year-on-year growth in Indian student intake at 49.6 per cent. On the other hand, Australia saw relatively minimal growth of 0.7 per cent.

India to act as automaker Toyota Motor Corporation's regional Hub

Last month TKM announced fresh investments of Rs 3,300 crore for setting up of a new plant by 2026, with an annual production capacity of 1 lakh units, while generating around additional 2,000 jobs

India set to restart imports of Venezuelan oil as US sanctions ease

Private refiner Reliance Industries Ltd has booked two supertankers, C. Earnest and C. Genuine, which are scheduled to load crude cargoes from Venezuela between December to early January.

ATF price cut by 4.6%; commercial LPG rate hiked by Rs 21 per cylinder

The price of domestic LPG - used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder

India and Nepal hold Projects Portfolio Performance Review meeting

During the meeting, discussions were held on ongoing projects in various sectors under the India-Nepal development cooperation framework both under grant assistance and under various lines of credit

Manufacturing PMI rises to 56 in Nov as cost inflation hits 40-month low

Inflationary pressures retreated, with purchase costs rising at the weakest pace since the current sequence of increases began in August 2020

Govt cuts windfall tax on crude to Rs 5,000/tonne, on ATF to Rs 1.06 l/kL

Centre had earlier reduced the windfall tax on diesel and crude oil on November 16

RBI to hold rates at 6.50% through mid-2024, cut seen in Q3: Poll

All 64 economists in the Nov. 17-30 Reuters poll expected the central bank to hold the repo rate at 6.50% at the conclusion of its Dec. 6-8 meeting

JPMorgan touts India, Mexico in 'bumpy' 2024 for emerging stocks

JPMorgan says 2024 could see markets with strong growth, robust earnings outlooks or close ties with the US economy outperform

Farm GVA growth slows to 1.2% in second quarter amid uneven rains

The sluggish growth in the sector can be attributed to weak harvest activity during July-September and most inputs coming from residual rabi crops

India's GDP expands 7.6% in Q2; manufacturing, construction lead the charge

Beats RBI's estimate of 6.5%; well on track for 6.7% growth in FY24

Q2 numbers an upside for FY24 GDP estimate: CEA V Anantha Nageswaran

The GDP numbers released on Thursday evening surpassed private estimates by a wide margin as manufacturing and construction activities expanded in double digits

India's green dilemma: Struggle for renewables as China powers up with coal

Poor planning by Indian policymakers, coupled with unbridled optimism for renewables, caught India unawares, industry officials noted

Q2 GDP: Investment growth at 5 qtr high, household consumption slows down

Rajani Sinha, Chief Economist, CARE Ratings, says that on the demand side, there was a sharp jump in investment, led by the Central and state governments, that helped pull up the GDP growth

India's core sector output grew by 12.1% in October on low base effect

The figures for September were revised upward to 9.2 per cent from 8.1 per cent earlier

Pesticide industry opposes Maharashtra draft Bill on aid to farmers

The draft Bill has been put up for public consultation by the state government

Rupee closes at new low of 83.39/$; worst performer among Asian currencies

The previous all-time closing low for the rupee was 83.35 a dollar on November 20. The rupee had hit a record low of 83.48 (intraday) against the dollar on November 10

Tight liquidity: Open-market operation not on the discussion table

Market participants expect the liquidity to ease by the end of December due to redemptions and government spending

Bank credit to industry decelerates to 5.4% in October, reveals RBI data

The data also revealed that credit growth to agriculture and allied activities improved to 17.5 per cent (year-on-year) in October 2023 from 13.8 per cent a year ago

India's GDP expected to grow by 6.5% in FY24, says finance ministry

Growth projections for Financial Year 2024 indicate that India will grow by 6.5 per cent. Growth prospects appear bright, though external factors pose a downside risk, the Finance Ministry said