Page 583 - Economy & Policy News
MGNREGS work demand increases 20% on low August rains, shows data
This does not include the COVID-impacted years of 2020-21 and 2021-22 when work demand for August was higher
 "MGNREGS work demand increases 20% on low August rains, shows data")
India manufacturing PMI grows to three-month high in August: S&P Global
'Sharp expansion' in international sales show companies' focus on international business, says survey
 "India manufacturing PMI grows to three-month high in August: S&P Global")
India's GST collection increases 11% to Rs 1.59 trn on better compliance
Mop-up for Centre, states and revenue from IGST moderated compared to previous month
 "India's GST collection increases 11% to Rs 1.59 trn on better compliance")
India's rice planting grows on higher prices, cotton sowing lags
Higher rice planting could alleviate supply concerns in the world's second-biggest producer and consumer of the grain
 "India's rice planting grows on higher prices, cotton sowing lags")
Banks seek higher supply of longer-tenure bonds in the second half
A trader at another PD said that the introduction of 20-year bonds seems unlikely
 "Banks seek higher supply of longer-tenure bonds in the second half")
Inflation to start moderating from Sept onwards, says RBI Guv Das
Reserve Bank Governor Shaktikanta Das on Friday said the central bank expects inflation to moderate from September onwards
 "Inflation to start moderating from Sept onwards, says RBI Guv Das")
CBDT signs 95 APAs in 2022-23, highest ever since launch in 2012
The Income Tax department has signed 95 advance pricing agreements (APA) in 2022-23 -- the highest ever in any financial year since its launch in 2012
 "CBDT signs 95 APAs in 2022-23, highest ever since launch in 2012")
Govt to ensure enhanced export control of dual-use items: Official
The government will ensure enhanced export control of dual-use items so that these do not fall into the hands of non-state actors and terrorists, Director General of Foreign Trade Santosh Sarangi said
 "Govt to ensure enhanced export control of dual-use items: Official")
Foreign exchange reserves remain largely flat at $594.86 bn as of Aug 25
Forex reserves fell by a marginal $30 million for the week, compared to a $7.27 billion drop in the week ended Aug. 18, the data showed
 "Foreign exchange reserves remain largely flat at $594.86 bn as of Aug 25")
Crude oil prices rises to highest in over 7 months on supply worries
Russia, the world's second-largest oil exporter, has already agreed with OPEC+ partners to cut oil exports next month, Deputy Prime Minister Alexander Novak said
 "Crude oil prices rises to highest in over 7 months on supply worries")
E-recruitment declines 5% in Aug as cos cautious due to global crisis
E-recruitment activities in India fell by 5 per cent in August compared to same month last year as cos are cautious following challenges posed by inflation and slow growth of economies such as US
 "E-recruitment declines 5% in Aug as cos cautious due to global crisis")
Right policies will help India reach $2-trn exports by 2030: Sanjay Budhia
Right policies and a proactive approach by the government will help India achieve $2-trn exports target of goods and services by 2030, Chairman, CII national committee on EXIM, Sanjay Budhia, said
 "Right policies will help India reach $2-trn exports by 2030: Sanjay Budhia")
Comm min to organise workshops on promoting exports via e-commerce
The commerce ministry on Friday said it has decided to organise monthly workshops to raise awareness about ways to promote exports through e-commerce mediums
 "Comm min to organise workshops on promoting exports via e-commerce")
RBI governor rated A+ in global finance central banker report cards 2023
The Central Banker Report Cards, an annual publication by Global Finance since 1994, assess and grade the performance of central bank governors
 "RBI governor rated A+ in global finance central banker report cards 2023")
US job growth picks up more than expected in August; wages gains slow
The economy needs to create roughly 100,000 jobs per month to keep up with the increase in the working-age population
 "US job growth picks up more than expected in August; wages gains slow")
About 93% Rs 2,000 currency notes returned to banking system, says RBI
The Reserve Bank today said in absolute terms, the total value of Rs 2,000 banknotes received back from circulation is Rs 3.32 trillion up to August 31, 2023
 "About 93% Rs 2,000 currency notes returned to banking system, says RBI")
India Inc set to show further improvement in credit metrics in Q2: Report
India Inc's credit metrics are likely to show further improvement in the September quarter, a domestic rating agency said on Friday
 "India Inc set to show further improvement in credit metrics in Q2: Report")
93% of Rs 2,000 notes worth Rs 3.32 trillion returned since May: RBI
The RBI had said in May that it would withdraw these high-value notes, permitting their exchange or deposit until Sept. 30
 "93% of Rs 2,000 notes worth Rs 3.32 trillion returned since May: RBI")
Like India, quarterly GDP growth also up in other large economies
China, Japan, the United States and the UK have shown a stronger rate of gross domestic product (GDP) growth in the second quarter of 2023 compared to the previous quarter
 "Like India, quarterly GDP growth also up in other large economies")
GST collection grows 11% YoY to around Rs 1.6 trillion in August: Govt
The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022. Malhotra said GDP growth was 7.8 per cent in June quarter and nominally it has grown 8 per cent
 "GST collection grows 11% YoY to around Rs 1.6 trillion in August: Govt")