Page 981 - Economy & Policy News

Nomura cuts 2023 India GDP forecast to 4.7% amid recession fears

Despite the government's recent fiscal steps to counter inflation, Nomura believes, there are upside risks to inflation from the continued pass-through of higher input costs

IIP growth up just 1.7% compared to pre-Covid periods, manufacturing lags

Flat growth may prompt the monetary policy committee not to go for an aggressive rate hike in August

Windfall tax review more likely now after fall in global crude prices

Post windfall tax, the realised spread on diesel and gasoline has fallen to near loss-making levels while the realisation on aviation fuel and crude have also gone below 15-year averages

Ministry of Railways to monetise redeveloped stations through REITs

The decision assumes significance as MoR has been lagging behind in achieving its targets under the National Monetisation Pipeline (NMP) of the Centre, during the last fiscal year

Low growth and high inflation expected this year: N Chandrasekaran

The World Bank last month cut India's economic growth forecast for the current fiscal to 7.5 per cent owing to rising inflation, supply chain disruptions and geopolitical tensions

Power to admit insolvency application not binding even when debt owed: SC

The bench said NCLT failed to appreciate the question of time-bound initiation and completion of corporate insolvency resolution process could only arise if companies were bankrupt or insolvent

The state-level political dynamics behind the windfall tax on fuel exports

Gujarat has the highest percentage of private oil pumps at 24%, followed by Rajasthan at 14.5%; the former will elect a new legislative assembly by this December, the latter, a year later

How the RBI is creating conditions for foreign flows to come back to India

The RBI announced five measures on July 6 to further liberalise foreign exchange. The measures are aimed at creating a more enabling environment to attract dollars through banking deposits, ECB, FPI

CAD as percentage of GDP: Nowhere near 2012-13 level, yet worrisome

If up to $50 billion is withdrawn from forex reserves to finance CAD, the country would still be able to meet nine month's imports. Any withdrawal beyond this could pose a problem

India set to be self-sufficient in urea by 2025 even without help from nano

The commissioning of new plants is expected to bring down import dependency to less than half of current levels

Extending export credit in rupee can boost its acceptability: Experts

However, the rupee can truly become internationalised only when it becomes freely convertible on capital account, they say

Indian economy projected to grow 7.1-7.6% in current fiscal: Report

Indian economy is expected to grow 7.17.6 per cent in the current financial year despite shifting geopolitical realities across the world, a report said on Wednesday.

India's trade with crisis-hit Sri Lanka 'at standstill': Exporters

Exporters are very cautious because of the political crisis and payment issues: FIEO Vice-Chairman Khalid Khan

Sale of online space for advertisement to attract 18% GST, says AAR

E-commerce portal Myntra Designs Pvt Ltd had approached the AAR seeking a ruling on whether providing advertisement space on its portal to foreign entity Lenzing Singapore Pte Ltd was liable to GST

Inflation in India to be about 5% by March 23, reveals SBI report

The State Bank of India (SBI) expects the inflation in India to be about five per cent by March 23

Eating out? Be prepared to shell out more as restaurants hike rates

High food inflation forces restaurants to hike prices; ban on service charge will likely lead to further increases in the prices of dishes on the menu

Pointed attack on inflation to continue, says FM Nirmala Sitharaman

The finance minister also foresees monsoon being favourable for agriculture. Production is expected to be good and rural demand is seen remaining intact

India preparing to submit new climate targets to UN ahead of COP27 talks

India's delay has been striking given Prime Minister Narendra Modi's surprise announcement at COP26 that his country would reach net-zero emissions by 2070

Global energy crisis hastening end of fossil fuel dominance, says India

Renewables paired with energy storage are now cheaper than coal after the fuel's price surged in recent months, while fossil sources are also experiencing a lack of investment, RK Singh said

Will the rupee settlement plan be a game-changer for India?

India's central bank has announced a mechanism to settle international trade in rupee. This will make trade easier with countries facing US sanctions. Find out about the RBI's decision and its impact