Page 688 - Economy & Policy News

India and Malaysia can now use Indian rupee to settle trade, says MEA

"Trade between India and Malaysia can now be settled in Indian Rupee (INR) in addition to the current modes of settlement in other currencies," the MEA said

Govt's total liabilities rise 2.6% to Rs 150.95 trn in Q3FY23: Report

In absolute terms, the total liabilities, including liabilities under the 'Public Account' of the government, jumped to Rs 1,50,95,970.8 crore at the end of December 2022

Tech spending in India poised to grow by 9.6% this year, shows report

According to the report, tech outsourcing and hardware maintenance will see sharp growth

Spread between state, Centre bond yields to widen in FY24: Analysts

Citi expects states to borrow around 8.7 trillion rupees, and the crowding out is likely to prompt investors to demand higher returns for state bonds

Rupee weakens 7.8% against US dollar in FY23, most in three years

The rupee closed FY23 at 82.18 to a dollar, against 75.79 a year ago

Govt falls short of disinvestment target, posts stronger dividend receipts

The dividend receipts from CPSEs grew more than 37 per cent to Rs 58,988 crore against the Revised Estimates (RE) target of Rs 43,000 crore

Fiscal deficit at 82.8% of Revised Estimates till February: Govt data

Total expenditure of Rs 34.93 trillion for April-February FY23 was 83.4 per cent of the RE

India's current account deficit declines to 2.2% of GDP in Q3FY23

Private transfer receipts, mainly representing remittances from Indians employed overseas, amounted to $30.8 billion, an increase of 31.7 per cent per cent YoY

Core sector output slows to 3-month low of 6% in Feb, crude production dips

Six of eight key infrastructure industries report sequential deceleration

Mobile phone user base rises in Jan after four months of decline: Trai data

Vodafone Idea user base shrinks by 1.35 million; Jio cements lead with the addition of 1.65 million subscribers

Govt may close FY23 with Rs 50,000 cr shortfall in direct tax mop up

The dividend from public sector enterprises gave some breather: It stood at Rs 58,988 crore, compared to the revised target of Rs 43,000 crore

Richard Branson's Virgin Orbit announces to fire 85% of its workforce

Richard Branson's Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission

New foreign trade policy seeks to spur rupee trade, e-com exports

Targets $2 trillion in goods and services exports by 2030

G20 Sherpa's meeting: Negotiations to begin on leaders' statement

There have been differences between the two groupings over the language used to criticize Russia's invasion of Ukraine

Govt's new foreign trade policy set to boost domestic manufacturing

Apart from that, under the policy, e-commerce as export hubs (ECEH) will be set up through private initiative or in public-private partnership (PPP) mode, in partnership with the states or the Centre

Procurement via GeM crosses target of Rs 2 trillion on last day of FY23

On March 30, GeM completed five million transactions in a single financial year for the first time ever

India's farm exports likely to touch record $56-57 billion: Official

The achievement will be commendable, given that exports of several high-value items, such as wheat and rice, have been banned during the financial year to control inflation

India keeps gas prices steady as government mulls new rate regime

The government sets the price of gas from domestic fields every six months, however this time around it decided to keep any changes on hold for the period beginning April 1

Retail inflation for industrial workers remains flat at 6.16% in February

Retail inflation for industrial workers remained flat at 6.16 per cent in February compared to that of January this year

Centre authorises SBI to issue electoral bonds between April 3-12

The State Bank of India (SBI) has been authorised by the government to issue and encash electoral bonds through its 29 authorised branches across the country from April 3 till April 12.