Page 603 - Economy & Policy News

Services, retail demand keeps credit offtake robust in June: RBI data

Reserve Bank of India (RBI) data showed the services sector clocked a pace of 26.7 per cent in June against 12.8 per cent a year ago

India's fiscal deficit for Q1 reaches 25.3% of annual target: Govt data

Fiscal deficit - the difference between government's expenditure and revenue, stood at 6.4 per cent of the GDP in 2022-23

India's core sector output expands to 5-month high at 8.2% in June

In June last year, the core sector had grown by 13.1 per cent. The print for May 2023 has undergone a significant revision to 5 per cent from 4.3 per cent estimated earlier

Indian refiners stock up Urals crude oil before Russian supply cut

Import of this grade of crude jumps 14% in a month to record high

Govt extends deadline of IT hardware products PLI scheme till August 30

The budgetary outlay was more than doubled to Rs 17,000 crore compared to the previous scheme with a provision of Rs 7,325 crore

Retail inflation for industrial workers rises in June due to higher prices

Similarly, food inflation stood at six per cent against 3.24% in the previous month and 6.73% during the corresponding month a year ago

Market regulator Sebi looks to ease burden of compliance for India Inc

Implementation standards, doing away with board evaluation among measures planned

India to become middle-income country with GDP of $6 trn by 2030: Report

The report, released by Standard Chartered Bank, assumes that India's nominal GDP growth rate will be 10 per cent per annum from now on

Erratic rainfall may lead to higher inflation in near term: BoB research

"This is expected to translate into a higher inflation in the near term, as IMD expects El Nino conditions will develop in the middle of the monsoon period", the report said

India's core sector output rises to five-month high of 8.2% in June: Govt

The government revised the final growth rate of the index of eight core industries for March 2023 to 4.2%

Basmati rice exporters get requests for early shipments following ban

India exported around 4.5 million metric tons of basmati rice in 2022/23, with Saudi Arabia, Iran, Iraq, United Arab Emirates, Yemen and the United States among the top buyers

US biggest export destination for Indian smartphones in April-May: Govt

India exported $2.43 bn worth of smartphones in April-May this fiscal, driven by a multifold jump in shipments to US which emerged as biggest destination for India-made devices, according to govt data

PMJDY account to touch 500-million mark; about 55% beneficiaries are women

As on July 19, the number of total account holders under the PMJDY has reached 495.6 million, of which 275.6 crore are women

77% of Rs 2,000 notes returned by users to banks as of June 30: FinMin

The number of Rs 2,000 notes in circulation fell to 418 million in volume terms on June 30, from 1.77 billion on May 19, the ministry said

Nirma emerges as frontrunner for Glenmark's API arm as bid deadline ends

Nirma Ltd and Sekhmet Pharmaventures were among the shortlisted bidders for a controlling stake in GLS

Indian exports face bigger threat from Asia-Pacific than West: CRISIL

CRISIL also said that the share of the US and the EU in India's goods exports has been on the rise since 2021 and it is eating into the share of the APAC region

Stock exchange NSE considering extending trade timings in phased manner

At the present moment, the regular trade timing session on NSE and BSE operates from 9:15 am to 3:30 pm for stocks

Macro worries keep IT companies off campus: Hirings to be 40% lower

Many institutes say this year placement season will be subdued

From labour to IPR, non-trade issues may not be part of India-Canada deal

Early harvest agreement likely to be signed by year-end

After reasonable surplus monsoon in July, El Nino clouds over August rains

Extended break in rainfall may affect kharif yields