Page 589 - Economy & Policy News

July Russian oil imports dip; Saudi import down to 2-1/2-yr low: Trade data

India's overall imports also declined 5.2% from June to 4.4 million bpd oil in July, the data showed, as several refining plants are shut for maintenance during monsoon season

GDP growth to be higher than RBI's estimate of 8% for June qtr: Economists

The country's real GDP growth in the first quarter will be better than the Reserve Bank's estimate of 8 per cent, economists said on Tuesday.

West Bengal sees microfinance as a key driver of economic growth: Mitra

Speaking at a precursor meeting of the Bengal Global Business Summit (BGBS) 2023, Mitra said that banks in West Bengal lent Rs 1.28 trillion to the MSMEs in FY23

BS Policy & Politics: Food-driven retail inflation may cool only in Sept

Cereals, pulses and milk were other food items to push up the rate of price rise in July, prompting the government to take more measures to tame prices

Global uncertainty, domestic disruption to keep inflation elevated: FinMin

The consumer price index based retail inflation spiked to a 15-month high of 7.44 per cent in July 2023, with specific food commodities mainly driving the increase

Govt losing revenue due to GST, should be neutral with single rate: Debroy

Debroy said the public as well as members of the GST Council want the 28% tax rate to come down, but "no one wants the 0 and 3% tax rates to go up"

ICRA estimates GDP growth at 8.5% in Q1, maintains FY24 forecast at 6%

In the first quarter, unseasonal heavy rains, lagged effect of the monetary tightening and weak external demand exerted a downward pressure on GDP growth, Nayar said

India not planning to restrict parboiled rice exports, clarifies food secy

Currently, there are no restrictions on the exports of parboiled rice, which constitutes nearly a third of India's total rice exports

Rice supply faces new threat as India considers more restrictions

The government is considering imposing a tax on shipments of parboiled rice, according to people familiar with matter. No decision has been made yet

India Inc plans to press the pedal on capital expenditure: CEO poll

59% expect markets to remain buoyant; rising prices a worry for 27%

Oil prices rise for third day as tighter market offsets demand risks

Meanwhile, some refined products such as diesel - the workhorse fuel of the global economy - have started pricing in scarcity this winter, boosting their premium to the oil from which they are made

Ctrl+Alt+Import: Apple, Dell, HP among 16 impacted by licensing norms

Execs in America say they expect US' Trade Representative Katherine Tai, who is visiting India from August 23-25, to take up the matter with New Delhi

India, Asean to conclude review of existing free-trade agreement by 2025

The FTA between India and the 10-nation bloc came into effect 13 years ago. Indian businesses have long been pushing for its review

India, Asean agree to speed up negotiations to conclude FTA review in 2025

The issue was discussed during the twentieth AEM (Asean Economic Ministers)-India Consultation meeting, held at Semarang, Indonesia

India to get $25 million grant for strengthening animal health system

India is among the very few countries which has got funding for safeguarding animal health

Tomato prices cooling with fresh arrival; retail prices at Rs 50-70/ kg now

Tomato prices had skyrocketed to as high as Rs 250 per kg in the retail markets across the country due to unseasonal rains

Onion export duty 'timely' move to boost domestic supply, check price rise

In Delhi, retail prices of onions have touched nearly Rs 40 per kilogram, as per official data

India, Asean to intensify efforts to wrap up trade agreement review by 2025

The issue was discussed during the twentieth AEM (Asean Economic Ministers)-India Consultation meeting, held at Semarang, Indonesia

Rajasthan govt approves Rs 700 crore for irrigation infrastructure upgrade

Meanwhile, Rs 123.53 crore has been approved for work at a filter plant near Bada Talab at Guda Vishnoiyan in Luni, Jodhpur

India's foreign trade crosses $800 bn mark in first 6 months of 2023: GTRI

Standalone, goods exports dipped by 8.1 per cent to USD 218.7 billion, while imports contracted by 8.3 per cent to USD 325.7 billion