Page 12 - Economy
What US safeguard tariffs on quartz surface products mean for India
The US has imposed 25-55% safeguard tariffs on quartz surface products, putting Indian exporters under pressure as they depend heavily on the American market
 "What US safeguard tariffs on quartz surface products mean for India")
India's exports to US remain unchanged after a year of Trump's tariffs
An analysis of trade ministry data for the 12 months through July shows the US continues to account for about 20% of India's exports
 "India's exports to US remain unchanged after a year of Trump's tariffs")
Brics nations oppose EU's CBAM, say it burdens developing economies
Brics nations said CBAM and similar measures "undermine efforts by developing countries aimed at addressing the adverse impacts of climate change, increasing adaptive capacity and resilience"
 "Brics nations oppose EU's CBAM, say it burdens developing economies")
Income-tax dept checks 394 entities over suspicious foreign remittances
The exercise covers entities that sent large sums abroad despite reporting little business activity or not filing returns, along with professionals who certified payments.
 "Income-tax dept checks 394 entities over suspicious foreign remittances")
Ind-Ra lifts India's FY27 economic growth forecast by 10 bps to 6.8%
But warns El Niño, geopolitical woes may weigh on momentum
 "Ind-Ra lifts India's FY27 economic growth forecast by 10 bps to 6.8%")
Global headwinds: Robust swap inflows lift rupee just 0.1% vs 8.8% in 2013
Global factors weigh on the currency despite sizeable FCNR(B) inflows, as economists flag tight financial conditions, volatile energy markets and competition for capital
 "Global headwinds: Robust swap inflows lift rupee just 0.1% vs 8.8% in 2013")
Build relationship with youth: FM Nirmala Sitharaman to PSBs
Sitharaman also asks state-owned banks to strengthen priority-sector lending and launch a month-long 'Banking for Youth' campaign from October 2
 "Build relationship with youth: FM Nirmala Sitharaman to PSBs")
Odisha govt unveils ₹1,000 crore relief package for flood-hit districts
Package covers crop, housing, livelihood and infrastructure losses as floods across five river systems affect more than 18 lakh people in 22 districts and claim 13 lives
 "Odisha govt unveils ₹1,000 crore relief package for flood-hit districts")
Suspicious foreign remittances under income tax department scanner
Entities located in districts along India's land borders and remitting significant amounts of money abroad have also been covered in the exercise
 "Suspicious foreign remittances under income tax department scanner")
China unveils new measures to boost consumption in counties, smaller cities
The government calls for upgrading consumption channels in counties, including renovating township commercial centres, rural markets and local fairs
 "China unveils new measures to boost consumption in counties, smaller cities")
India challenges US tariffs on quartz products with WTO consultation bid
Under WTO rules, the US has to enter into consultation within 30 days of receiving the request. If the dispute isn't resolved within 60 days, India can request the establishment of a panel
 "India challenges US tariffs on quartz products with WTO consultation bid")
India's tanker exports surge over six-fold to $1.36 bn in Q1, UAE leads
Tankers are large-scale transport ships engineered for the bulk movement of liquids and gases
 "India's tanker exports surge over six-fold to $1.36 bn in Q1, UAE leads")
Govt weighs cutting sugar import duty to curb record local prices
Officials are weighing proposals to lower or scrap the 100% tax on inbound shipments in an effort to boost local supplies
 "Govt weighs cutting sugar import duty to curb record local prices")
Median Indian firm grew in size after Covid-19 pandemic, EAC-PM paper finds
The paper found corporate profits rebounded sharply after the Covid-19 pandemic, but investment growth remained slower
 "Median Indian firm grew in size after Covid-19 pandemic, EAC-PM paper finds")
India's growth to slow to 6.8% in FY27 amid West Asia crisis, El Nino risks
The FY27 GDP growth projection at 6.8 per cent is a tad higher than the 6.7 per cent growth Ind-Ra had projected in May
 "India's growth to slow to 6.8% in FY27 amid West Asia crisis, El Nino risks")
Chatroom: EOU warehousing, eway bills and ITC: 3 practical issues
Expert explains whether an EOU can warehouse goods near Ahmedabad, the correct eway bill destination for exports and how to claim ITC on differential IGST
 "Chatroom: EOU warehousing, eway bills and ITC: 3 practical issues")
India's unemployment rate eases to four-month low of 5.1% in July
India's unemployment rate fell to 5.1% in July as labour force participation and worker population ratios rose, pointing to a firmer labour market
 "India's unemployment rate eases to four-month low of 5.1% in July")
Esic contribution cushion seen thinning on rise in benefit costs
Actuarial projections show ESIC's benefit spending could outpace contribution income over the next four years, even as interest income keeps the corporation in surplus
 "Esic contribution cushion seen thinning on rise in benefit costs")
VB-G RAM-G's first month: Poor jobs data, but the story is more complex
July persondays fell sharply from MGNREGA levels, but the Centre cites sowing pauses, monsoon recovery and transition issues, while experts say one month is too early to judge
 "VB-G RAM-G's first month: Poor jobs data, but the story is more complex")
MSMED amendment bill could be an 'IBC moment' for small enterprises: Report
The bankruptcy law (IBC) has helped banks to get rid of bad loans by putting borrowers at the risk of losing control over their companies in case of a default
 "MSMED amendment bill could be an 'IBC moment' for small enterprises: Report")