Page 594 - Economy & Policy News

Indian purchases of Russian crude slump by record 25% in August

Shipments of Russian oil to India dropped to around 1.5 million barrels per day (bpd) in the first 12 days of August from around 2 million bpd in entire July, according to data

MPLADS fund: 14 MPs from Assam get the highest share, shows data

Only Rs 4,307.5 crore of the Rs 6,216 crore entitled to parliamentarians were disbursed

Rupee slumps to 10-month low as dollar index rises; breaches 83/$ intraday

Breaches 83/$ intraday; RBI intervention cap losses

Vegetable oil July imports up 46% to 1.7 mn tn due to palm oil shipments

India imports palm oil mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soyabean oil from Argentina. Sunflower oil is imported from Ukraine and Russia

India's services exports see 12% growth at $27.17 billion in July

The trade deficit narrowed to $20.67 billion in July from $25.45 billion a year ago but widened from $18.76 billion in June

India's retail inflation rises to a 15-month high of 7.44% in July

Food inflation hits double digits

9 states raise Rs 13,500 crore via auction of bonds, Punjab tops list

Data from the Reserve Bank of India (RBI) revealed that Punjab raised the highest amount of Rs 4,000 crore through three bonds

Public procurement from GeM portal crosses Rs 90K crore so far this fiscal

In 2021-22, the procurement value stood at Rs 1.06 lakh crore. It crossed Rs 2 trn last year and this year, it may cross Rs 3 trn, he said

IMA opposes NMC move to mandate doctors to prescribe only generic medicines

IMA felt that if the Centre is serious about implementing generic drugs, then it should not give licences to branded drugs at all, and at the same time ensure the quality of generic drugs

RBI repo rate cut possible only in Jul-Sep quarter next year: Icra

A rate hike by RBI is possible only if the headline inflation is at over 6 per cent for two consecutive quarters, the agency said

President Murmu to launch new frigate 'INS Vindhyagiri' on Thursday

But the navy is going ahead with its tradition of keeping its warships, or at least their memory, alive

India looking at FTAs for strategic considerations also: Commerce Secretary

India is looking at commencing negotiations for an FTA with Peru and Chile also has expressed interest for a trade pact

CPI-based inflation surges to 7.44% in July on 11.51% retail food inflation

CPI inflation: This is the highest retail inflation since April 2022 when it was recorded at 7.79 per cent

Rupee slips to 10-month low on dollar strength, RBI likely capped losses

The rupee ended at 82.9500 to the U.S. currency compared with a previous close of 82.8450

Global currency markets stabalises after yen hits lowest level since Nov

The dollar hit a one-month high against a basket of other major currencies as investors sought a safe haven on concerns about China's economy, but then eased

Oil stabilises as China economic worries counter OPEC+ supply cuts

Brent crude futures slipped 35 cents to $86.46 a barrel by 1027 GMT while U.S. West Texas Intermediate crude edged lower by 38 cents to $82.81 a barrel

No proposal to put import restrictions on more electronic goods: Comm Secy

Barthwal said there is a production-linked incentive (PLI) scheme for electronics and mobile manufacturing

Disclosure norms in data law likely to create barriers for generative AI

Enterprise AI solution firms are reviewing the Bill while closely watching the discussions of the transition period

Trade deficit widens to $20.67 bn in July compared to $20.13 bn in June

Merchandise exports in July stood at $32.25 billion, down from $32.87 billion in June and $38.34 billion in July 2022

Total cultivated area in Telangana up from 13 mn to 22 mn acres since 2014

The total area under cultivation in Telangana increased from 13.1 to 22 mn acres, while paddy production rose from 6.8 million metric tonnes to 27 million metric tonnes during the last 9 years