Page 841 - Economy & Policy News

India's CAD likely to shoot up as net exports hit nine-year low

India's CAD stood at 2.8 per cent of GDP in Q1FY23, compared with 1.5 per cent of GDP in the January-March quarter of 2021-22

Odisha receives 145 proposals worth Rs 7.26 trn so far in biz conclave

The Odisha government said it has so far received 145 investment proposals worth over Rs 7.26 trillion in the current edition of the business summit

Lockdown, protests in China may impact key sectors in India: Report

In October, India's engineering exports to China fell 64 per cent and there has been a fall in demand for cut and polished diamonds as well as gold

IMD forecasts warm winter, crop yields likely to feel the heat this year

Both the minimum and maximum will remain below normal in Southern Peninsular and Central India in these winter months.

Russia continues hold on Indian oil supplies; West's price cap threat looms

India will be unable to use Western tankers and insurance if it refuses to adhere to price cap

Madhya Pradesh set to organise global investors summit in Indore

CM Shivraj Singh Chouhan said MP's policy of providing facilities to investors was the best in the country. The state government has committed itself to extending full cooperation to investors

Invest Rajasthan Summit proposals in implementation stage, says minister

The summit had drawn interest from local businesses, in addition to a number of those from India and outside

Petrol, diesel sales see double-digit growth in November as demand rises

Petrol sales soared 11.7 per cent to 2.66 million tonnes in November, as compared to 2.38 million tonnes of consumption in the same month last year

Jet fuel price slashed by 2.3% as international oil price softens

Jet fuel (ATF) price was reduced by 2.3 per cent, reflecting softening international oil prices but petrol and diesel rates remained on freeze for a record eighth month in running

Centre cuts windfall tax on crude oil output and diesel exports

The revised tax rates become effective from December 2, 2022

GST collection up 11% more than Rs 1.45 trn in Nov, gains from imports

It is the ninth month straight that monthly GST revenue has been more than Rs 1.4 trn

TN eyes key role in offshore wind energy, may mop up $30 bn investments

According to govt estimates, 14 locations have been identified in the state, with potential to generate 25 Gw of wind energy

FTAs and their discontents: Do free trade agreements benefit India?

India's balance of trade has worsened with countries with which it has signed free trade agreements

Over 3 mn central govt pensioners used digital life certificates: DoPPW

More than 30 lakh Central government pensioners used digital life certificates (DLCs), the Department of Pension & Pensioners' Welfare (DoPPW) said on Thursday

e-Rupee: RBI creates Rs 1.71 crore of digital currency for retail pilot

Aims to involve 50,000 merchants, customers in the next few days

Unemployment rate rises to three-month high at 8% in November: CMIE

The country's unemployment rate rose to a three-month high at 8 per cent during November, according to data by the Centre for Monitoring Indian Economy (CMIE)

Odisha destined to emerge trn-dollar economy: CM Patnaik woos investors

Claiming that Odisha is destined to become a trillion-dollar economy in the near future, CM Naveen Patnaik on Thursday assured business leaders of all support in launching their projects in the state

Economy likely to grow 6.5%-7% next fiscal year, says Sanjeev Sanyal

Global agencies such as the International Monetary Fund and the World bank, for instance, have forecast India's growth will be 6.1% and 6.0%, respectively, next fiscal

India to offer slew of incentives to boost shipbuilding industry: Report

The plans include subsidies so that at least 50 new vessels can be built as well as the granting of "infrastructure status" to the industry which would help with financing from banks, said the govt

India's open access solar capacity grows 91% to 596 MW in Jul-Sep: Report

Installation of open access solar capacity in India increased by 91 per cent to 596 megawatt (MW) during the July-September period, according to Mercom Research India.