Page 550 - Economy & Policy News

Airbnb contributed over $920 million to India's economy in FY23: Research

The report compares the findings for FY23 in terms of GDP contribution and jobs supported in India during the period between April 2019 and March 2020

UK PM Sunak reiterates commitment to get free trade deal with India done

I've just come back from my first trip to India as Prime Minister and that was very successful, said Sunak

FinMin seeks expenditure proposals for supplementary demands for grants

Ahead of the winter session of Parliament, the finance ministry has sought expenditure proposals for the first batch of supplementary demands for grants from various ministries and departments

India urges producers for 'sensitivity' as oil price near $90 per barrel

Union Minister Hardeep Singh Puri has long called for OPEC and its allies led by Russia, known as OPEC+, to consider how their policies affect oil-consuming countries

States' borrowing cost jumps 10 bps to reach 23-week high of 7.56%

Fourteen states raised Rs 22,500 crore through the issuance of state government securities in line with the indicated amount for this weekly auction for the third quarter calendar

Insurance industry lacks human capital in administration: Irdai member

He further said that the lack of skilled professionals has affected the Assets under Management (AUM) of these companies

US Treasury 30-year bond yield rises 8 bps to hit highest level since 2007

Shorter-maturity Treasury yields had previously reached the highest levels since at least 2007, and extended their climb Tuesday

Fund raised via bonds on private placement up 73% to Rs 3.3 trn in Apr-Aug

In private placements, firms issue securities or bonds to institutional investors instead of a sale in the open market

Smart TV Shipments fall 5% in H1, estimated to decline 7% in 2023: Report

In the first half of 2023, the India Smart TV Shipments have already declined 5 per cent, the report said

State-run agency suggests mandatory green hydrogen norms for oil refineries

Bureau of Energy Efficiency suggests giving refineries three years to meet green hydrogen obligations

Overall engineering exports from India affected by global slowdown: EEPC

Overall engineering exports during April to August in 2023 dropped 4.55 per cent to $ 44.62 billion as against $ 46.74 billion in the previous similar period of 2022

Ahead of polls, govt likely to unveil new pension model for staff: Report

A source said that the pension for government staff under the tentative model will be adjusted for inflation only every five or ten years

WB ups India's FY24 inflation forecast to 5.9%, growth estimate unchanged

World Bank also said that it expects fiscal consolidation to continue in FY24, with the central government fiscal deficit projected to continue to decline from 6.4% to 5.9%

Union excise duty collection fell 12% in first five months of FY24

The excise kitty dropped 18 per cent in August, shows CGA data

Credit quality of export, commodity-linked sectors to face pressure: Crisil

Rating upgrades outpace downgrades in H1FY24

September PMI manufacturing comes at 57.5, slowest expansion in 5 months

The fall in PMI was primarily attributed to a softening in the number of new orders

FIU likely to launch global crypto exchange database by March next year

The exchange will also have information on the exchanges which are operating on the dark web

As households save less, India's growth story may not have happy ending

What the data suggests, however, is that India's numbers are unsustainable. They're driven by debt-fueled household consumption and government investment

Securities transaction tax collection likely to go past Budget target

Collection in H1 over 50% of BE of Rs 27,625 cr

World Bank slashes 2023 growth forecast for East Asia and Pacific to 5%

World Bank said that while China is expected to grow at 5.1% this year, up from 3% in 2022, the rest of the countries in the region are expected to see a slowdown