Page 551 - Economy & Policy News

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

Basel-III rules to give Nabard room to double balance sheet from April 2024

As the overall business horizon of Nabard has expanded, capital and reserves registered growth of 52.4 per cent

Indian pharma exports to Iran decline thanks to its lower rupee reserves

Indian pharma exports to Iran have declined from $205.1 million in FY20 to $59.14 million in FY23. Iran's rupee reserves have depleted as India ceased oil imports from the country in mid-2019

Rural reprieve pushed India's unemployment rate to 1-year low in Sept: CMIE

The overall joblessness rate slid to 7.09% last month, from 8.10% in August, data from private research firm Centre for Monitoring Indian Economy showed.

Chatroom: DTA units can pay EOU in foreign currency, says expert

TNC Rajagopalan answers SME queries related to GST, export and import matters

Run-up to RBI monetary policy review: Expect another hawkish pause

The surge in the headline CPI inflation has expectedly proved to be transient. The print had cooled off to 6.8 per cent in August 2023 from the 15-month high of 7.4 per cent in July

Private sector must cover 90% of climate investment in Ems, says IMF

The IMF said phasing out coal is necessary to reach climate goals, though it is challenging as many EMDEs highly depend on coal

West Bengal, Centre spar over unpaid MGNREGS and housing scheme funds

Union Rural Development Minister Giriraj Singh hit back, alleging that West Bengal had issued 2.5 million fake MGNREGS job cards due to which crores of rupees of government funds were siphoned off

High on G20 bonhomie, India readies 4th summit with African Union

Delayed for 5 years, the key meet likely in Nairobi in three months

India to clock GDP growth of 6.5% in FY24: NITI Aayog Ex-VC Rajiv Kumar

On the domestic side, Kumar said inflation is beginning to come down to the target levels and the government tax revenues have shown a good 16 per cent increase over last year

CIL's coal supply to power sector rises 3.4% to 294.8 MT during Apr-Sept

The total amount of coal supplied was 1.8 MT more than the 293 MT demand projected for this period, Coal India Ltd (CIL) said in a statement

Power consumption grows 10.7% due to increase in use of cooling appliances

In the year-ago period, power consumption stood at 126.91 Billion Units (BU), higher than 112.43 billion units in September 2021, according to government data

Amid dull job market, tech graduates enlist in boot camps to boost skills

The demand for boot camps in firms like Upgrad, Coding Ninjas, Scaler, Great Learning, and Newton School has risen by 2-3 times in the last 6-12 months

Between manufacturing and services, can AI show India a third way to grow?

Even if generative artificial intelligence has been overhyped, it's safe to assume that ChatGPT-type bots will only get better at routine tasks like writing computer software