Page 559 - Economy & Policy News

Punjab has received over Rs 50,000 crore investments in 18 months: CM Mann

The Netherlands is known to be the second largest exporter of agricultural products in the world

Gross GST collection rises 10% to over Rs 1.62 trillion in September

The revenue in September 2023 was 10 per cent higher than the GST revenue of Rs 1.47 trillion in the same month last year, the finance ministry said in a statement

Poorest monsoon in five years likely to dim India's sugar export outlook

India relies on rains to irrigate about half of its farmland, received 820 millimeters (32.3 inches) of rainfall during the June-September monsoon season, 6% less than the long-term

RBI extends last date for exchanging Rs 2,000 bank notes to Oct 7

RBI says 96% of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned

The times they are a-changing for Competition Commission of India

Fair market regulator is getting more powers as its new leadership settles in at work

Bengaluru sees 39% fall in office demand in Jul-Sep: Cushman & Wakefield

Across eight major cities, the absorption of office space fell 13 per cent to 151,18,147 sq ft from 173,76,222 sq ft

Corporate credit ratings stable in H1FY24 despite global headwinds: CARE

Rating upgrades outnumber downgrades in Apr-Sep 23; global slowdown begins to bite export oriented units

Govt hikes domestic natural gas prices to $9.20 per mmBTu from Oct 1

The hike in prices is likely to hurt consumers as the gas distribution companies are expected to increase prices of CNG and PNG

Govt exempts 'Bangalore Rose' onion from export duty, subject to conditions

In August, the government imposed a 40% duty on export of all varieties of onions to increase domestic availability and check price rise in the local market

India keen to increase manufacturing share in GDP to 25%: Hardeep Puri

He said that PM's clarion call for 'Make in India, Make for the World' at World Economic Forum this year was a signal that India is ready and keen to increase the share of manufacturing to 25% by 2025

Delhi govt issues notification asking to renew excise licences by October 5

The city government has decided to extend its existing excise policy by six months due to the time needed for coming up with a new liquor trade regime

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