Page 652 - Economy & Policy News

Cabinet approves world's largest food storage scheme, allocates Rs 1 trn

Under this plan, every block will have a godown with a capacity of 2,000 tonnes, Union minister Anurag Thakur said

Sugar mills export entire quota of 6.1 mn tonnes, cash in on high prices

Mills were getting more than Rs 50,000 ($604.6) per tonne from the overseas sale against the local price of 36,500 rupees, dealers said

40-50 FDI proposals from neighbouring countries pending for approval

As per that decision, FDI proposals from these countries need government approval for investments in India in any sector

Walmart boost: India's readymade garment exports limping to normalcy in May

However, while export values are up, volumes remain subdued by at least by 5-10 per cent

Govt invites new applications for semiconductor manufacturing unit

New applications for setting up semiconductor fabrication units in the country can be made from June 1

India of 2023 is different from what it was in 2013: Morgan Stanley

India has witnessed a significant transformation in several areas since 2014 and will emerge as a key driver for Asian and global growth, says a Morgan Stanley research report on Wednesday

GDP preview: Why is India likely to retain fastest-growing economy tag

Growth in services and manufacturing and private investment rebound likely to have helped economy in Q4

Economists predict first rate cut by RBI in 2024 for durable growth

Policy makers from the RBI will meet June 6-8 to deliberate and economists are expecting another hold in rates as the central bank focuses on growth while inflation shows signs of moderating

Despite world-beating growth, India's lack of jobs threatens its young

Economists say more and more job-seekers, especially the young, are looking for low-paid casual work or falling back on unreliable self-employment, even though the broader Indian economy is growing

Indian economy likely gained pace in March qtr, data to be released today

During the March quarter, high frequency indicators showed that a rise in urban incomes had boosted sales of expensive cars, Apple mobile phones, and air travel

Mango exporters from Uttar Pradesh tap markets in Gulf and Europe

Traditionally, UP mango is exported to the Gulf apart from shipments to a few South East Asian countries viz. Malaysia, Singapore from South India.

Odisha CM Naveen Patnaik inaugurates investment projects worth Rs 3,600 Cr

The state government's unceasing endeavour in making Odisha a top choice for investors is now taking shape, he added

Crude imports from Russia jumped 14x in FY23, says RBI annual report

The country's overall import of crude oil rose to $162.2 billion in FY23, up from $107.5 billion, data from the Department of Commerce shows

Asian Development Bank to focus on urban schemes in new India strategy

The new strategy will focus on ADB deepening its engagement with the country and supporting India's drive for robust, climate-resilient, and inclusive growth

Share of salaried women workers declines to 2-year low in March quarter

Though the share of women in primary sector employment which includes agriculture and allied activities declined in the March quarter, it still remained elevated at 9.3 per cent

Hardening interest rates, geo-political risks impacting FDI inflows: DPIIT

These five sectors had a share of USD 30 billion in India's total FDI in 2021-22 and in the last fiscal year, overseas inflows have almost halved

Need states' support to resolve industrial corridor issues: FM Sitharaman

The industrial corridors can be operationalised by expediting land acquisition, facilitating the implementation of external infrastructure linkages, among other things

Govt to brief industry on US-led initiative IPEF's supply chain pillar

Government officials said there will be more rounds of stakeholder and legal consultations will take place before the text is finalised

India's fiscal deficit target of 5.9% for FY24 at risk, warns Nomura

A notable increase in RBI's income, which was driven by profits from foreign exchange sales amounting to Rs 1 trillion, reflects active intervention in the foreign exchange market

India extends $1 billion credit line to Sri Lanka by another year

Meanwhile, Sri Lanka announced on Tuesday that it has commenced the preliminary work to resume the abandoned Japan-funded Light Rail Transit (LRT) project