Page 964 - Economy & Policy News

IMF slashes India's FY23 GDP growth forecast by 80 bps to 7.4%

IMF cites less favourable external conditions and rapid policy tightening by RBI as reasons for lowering India's growth outlook

Kerala FM blames Centre for cutting resources by Rs 23,000 crore

Kerala Finance Minister K N Balagopal has written to Nirmala Sitharaman asking her not to include borrowings of state entities while fixing their debt limits

Rupee has strengthened against British pound this year: FM Sitharaman

Global factors such as the Russia-Ukraine conflict, soaring crude oil prices and tightening of global financial conditions are major reasons for the weakening of the Indian Rupee against the US Dollar

SC dismisses plea seeking GST exemption for Haj via private tour operators

The private tour operators argued that the levy is discriminatory as it exempts certain pilgrims who undertake the journey through the Haj Committee of India

Ministry of Defence's iDEX-DIO signs its 100th innovation contract

Defence Secretary Ajay Kumar says, "We are confident that iDEX will make India the biggest defence innovation ecosystem in the world'

Defence ministry approves arms procurement proposals worth Rs 28,732 cr

The procurement proposals were cleared by the Defence Acquisition Council headed by Defence Minister Rajnath Singh.

India's June crude oil imports up 21% on demand recovery, Russian discounts

Fuel consumption in the world's third-biggest oil consumer also increased in June, and seemed to be heading back towards pre-pandemic levels.

Don't include borrowings of state entities in debt: Kerala FM to Sitharaman

Kerala FM K N Balagopal has requested Nirmala Sitharaman to exclude balances in the public account of the states and borrowings by entities run by them while determining their net borrowing capacity

Never slowed, walked away from making investments in India: Gautam Adani

Gautam Adani on Tuesday said his ports-to-energy conglomerate has never slowed or walked away from making investments in India as the group's growth is aligned with the country's growth story.

Haryana DCs asked to expedite cases related to mobile tower installation

Haryana Chief Secretary Sanjeev Kaushal has directed all deputy commissioners in state to expedite pending cases related to RoW permissions for installation of towers for mobile and internet service.

Is India Inc seeing the impact of a looming US recession?

Impending recession in the US is reflecting in its domestic consumption. Indian exporters are already seeing a dip in new orders, while IT sector margins are declining. Should the exporters worry?

What do Q1 IT earnings tell us about the sector's health?

The Q1 results of IT companies were disappointing as the profitability margins came lower than estimated. With a US recession on the horizon, are there reasons to worry about the IT sector's health?

Merchant discount rate on UPI-RuPay credit cards likely to be 2%

NPCI set to seek RBI nod for scheme; free swipes at smaller outlets

Govt plans to scrap 80-year-old Coffee Act, bring Bill to promote industry

Bill to be introduced in ongoing Parliament session, aims to modernise functioning of Coffee Board, promote exports and support development of domestic market

ESIC scheme adds 1.49 million new members in May, says NSO report

Around 14.93 lakh new members joined the ESIC-run social security scheme in May 2022, according to official data released on Monday.

RBI 'correct' to use FX reserves to tackle rupee volatility: Econ adviser

The RBI is justified in using the country's foreign exchange reserves to smooth out volatility in the rupee's moves against the dollar, a member of the Economic Advisory Council said

India on path to become $30 trillion economy in next 30 years: Piyush Goyal

India is on the path to become a USD 30 trillion economy in the next 30 years on the back strong GDP growth, said Commerce Minister Piyush Goyal on Monday.

More than 30 mn income tax return filed till date for FY 2021-22: I-T dept

"More than 3 crore ITRs for AY (Assessment Year) 2022-23 have been filed on e-filing portal till 25th July, 2022. The due date to file ITR for AY 2022-23 is 31st July, 2022," the dept said in a tweet

From extraction to attraction: Jharkhand launches new tourism policy

Key areas will be employment, economic growth, sustainable development and preservation of art, culture, and heritage

Interest payment by govt rises 3.1% of GDP to Rs 7.31 trillion in FY22

Interest payment of the government has increased to 3.1 per cent of the GDP to Rs 7.31 lakh crore in 2021-22, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday.