Page 554 - Economy & Policy News

Digital India Bill: Aadhaar likely to be default e-ID of citizens

The government is also likely to have sweeping powers to track, monitor, intercept, moderate and take down online content under the new law

At Rs 11.8 trn, India's gross tax revenue up by 16% in 5 months of FY24

August tax mop-up gives boost to govt finances

Govt increases windfall tax on petroleum crude, cuts levy on diesel, ATF

The windfall tax on petroleum crude will be raised to 12,100 rupees ($145.65) per ton from 10,000 rupees ($120.37), effective Sept. 30

Govt's gross debt rises 2.2% QoQ to Rs 159.53 trn in Q1: Finance Ministry

The liabilities stood at Rs 156.08 trillion at March-end

Govt hikes interest rate on 5-year recurring deposit scheme to 6.7%

Small savings schemes are government-backed investment options that offer guaranteed returns. The interest rates on small savings schemes are reviewed every quarter

India's core sector output touches 14-month high of 12.1% in August

In August last year, the core sector had grown by 4.2 per cent

Despite choppy Q2, rupee shines bright in Asia in first half of FY24

After a relatively stable Q1, the rupee faced pressure in the second quarter of FY24 due to rising US yields and crude oil prices, depreciating by 1.2 per cent between July and September

India imports of Russian, Iraqi oil rebound in Sept after hitting 7-mth low

India imported about 1.55 million barrels per day (bpd) of Russian oil in September, 16% more than in August, while imports from Iraq increased by 17% to about 1.1 million bpd, LSEG data showed

Trai seeks views on policy framework for economic development driven by 5G

Trai's paper said that over the last two decades, technology companies have made a science of tracking and characterizing users on their platforms, as it enables targeted advertising

FTAs help India's engineering exports surge 9% to UAE, Australia in Apr-Aug

This surge comes at a time when overall engineering exports have experienced a decline, EEPC India said on Friday

Global warming a problem but can't sacrifice growth, says CEA Nageswaran

Says global economy was going through a period of uncertainty

Retail inflation for industrial workers eases marginally to 6.91% in Aug

The index is compiled for 88 centres and All-India and is released on the last working day of the succeeding month

Higher pension: EPFO extends deadline to upload wage details till 31 Dec

Till 12 July this year, close to 1.8 million pensioners have applied for the higher pension option, of which 5.52 lakh applications for validation of option/joint options are still pending

Indian economy poised to grow at average 6.5% per annum over 2023-30: CEA

the global economy is going to witness a period of uncertainty, and India has to plug into global supply chain and make itself attractive for the China-plus one strategy, said V Anantha Nageswa, CEA

Higher pension scheme: EPFO extends deadline to upload details till Dec 31

The deadline for uploading wage details which was ending on September 30 has been extended following representations from Employers & Employers' Associations, according to a labour ministry's release

ADB unlocks $100 bn funding capacity with capital management reforms

The reforms, carried out through an update of ADB's Capital Adequacy Framework (CAF), would expand the bank's annual new commitments capacity to more than $36 billion

Key infra sector growth rises to 14-month high of 12.1% in August

The expansion in August is the highest since June 2022, when it was 13.2 per cent

India 10-year yield posts first quarterly rise in 5 on rising oil, US peers

The 10-year benchmark 7.18% 2033 bond yield ended at 7.2162% on Friday, leading to 10 basis points increase for the quarter. It had dropped by an aggregate 33 basis points in the last four quarters

India's foreign exchange reserves fall to 4-month low of $590.70 billion

Over the last few trading sessions, the RBI has been likely selling dollars via public sector banks to prevent the rupee from falling to a record low against the dollar, traders said

National Highway projects worth Rs 3,659 cr inaugurated in Maha's Washim

In the last nine years, 227 km of highway network connecting Vidarbha and Marathwada has been constructed in Maharashtra's Washim