Page 903 - Economy & Policy News

At 82.34, rupee ends marginally weaker ahead of US inflation test

The rupee ended at 82.3450, compared with its previous close of 82.3150, after trading in a narrow range through the session

15 states among achievers in logistics performance index 2022: DPIIT report

Andhra Pradesh, Assam and Gujarat are among the 15 states and UTs categorised as achievers in the logistics index chart 2022, according to a report by the commerce and Industry Ministry

NHAI InvIT looks to raise additional Rs 3,800 cr: Minister Nitin Gadkari

National Highways Infra Trust (NHAI InvIT) is looking to raise additional Rs 3,800 crore, Road Transport and Highways Minister Nitin Gadkari said on Thursday

India's economy faces significant external headwinds, says IMF

Earlier this week, the Washington-based fund lowered India's growth forecast by 0.6 percentage points to 6.8% for the year ending March 2023 -- the biggest downgrade among major economies after the US

India palm oil imports jump to 1-year high in September as discounts widen

The September imports jumped 18% from a month ago to 1.17 million tonnes, the highest since last September, the Solvent Extractors' Association of India, a trade body based in Mumbai, said

Indian Railways to operate freight version of Vande Bharat trains

The Railways has decided to introduce a freight version of the semi-high speed Vande Bharat Express, the first service of which will be operated between the Delhi-NCR and Mumbai regions

13 major states have room for Rs 7.4 trn capital spending in FY23: Icra

As many as 13 major states have a massive fiscal space of Rs 7.4 lakh crore for capital spending in the current fiscal, 81 per cent higher than the last fiscal, Icra said

India's palm oil imports rise 18% in Sept, veg oil up 17% MoM: Trade body

India's palm oil imports in September jumped about 18% from the previous month to 1.17 million tonnes, while vegetable oil imports rose about 17% to 1.64 million tonnes, a trade body said on Thursday.

September CPI inflation at 7.41 per cent: How analysts interpret the number

Analysts at UBS expect headline CPI inflation to average 6.7 per cent YoY in FY23 and see RBI's policy outlook to be data dependent contingent on the Fed action

Packaged parathas, unlike chapatis, to attract 18% GST, says GAAAR

Vadilal Industries had appealed that the 8 varieties of parathas it makes should all draw the same rate as chapatis

Retail inflation rate expected to gradually decelerate after Sept: Report

Consumer price-led inflation is expected to gradually decelerate after September, helped by a fall in commodity prices and easing food inflation, analysts said

RBI asks banks to stop building positions in offshore market: Report

The build-up of positions in this segment of the market is forcing the RBI to spend more reserves to defend the rupee

India maintained post-pandemic economic growth momentum, says Sitharaman

Nirmala Sitharaman said that India has maintained accelerated growth momentum, after the contraction in 2020, by balancing the immediate needs of the economy with long-term structural reforms

Will worries about rate hikes dent realty stocks?

After withstanding the pandemic-wrought downtrend, the sun shines brightly upon the realty sector now. But will the rate-sensitive sector face a challenge due to rising interest rates? Let's find out

Centre allows exports of 397,267 tonnes broken rice backed by LoC

India will allow overseas broken rice shipments of 397,267 tonnes backed by letters of credit (LCs) issued before September 8, the government said

Digitisation a game changer for Indian economy, says IMF chief economist

Applauding India's digitisation efforts, IMF's chief economist said the move was a game changer as it had allowed the Indian government to do things that would have been extremely difficult otherwise

India bright light economy, but reforms needed for $10 trn GDP: IMF

India has emerged as a bright light at a time when the world is facing imminent prospects of a recession, the chief economist of the International Monetary Fund (IMF) said

High food prices push retail inflation to 5-month high of 7.41% in Sept

IIP shrinks 0.8% in Aug - a first in 17 months

One year of PM-GatiShakti: National masterplan drives infra projects

Digital tool is mainly being used by the railway ministry, dept of telecommunications, highways and ports ministry

CIL will achieve 1 bn tonne coal production target by FY26: Pralhad Joshi

CIL will achieve 1 billion tonne coal production target by 2025-26 as against the earlier timeline of 2023-24 in view of the Covid-19 pandemic, Union Minister Pralhad Joshi said on Wednesday