Page 123 - Economy

MGNREGA work demand dips 26% in Aug with spike in kharif sowing

While the civil society felt the drop could be due to a squeeze in funding with the Centre directing states to cap MGNREGA labour budget spending to 60 per cent in the first six months

India's net GST kitty increases 10.7% to ₹1.67 trillion in August

Gross GST collections in August, for transactions undertaken in July, stood at about Rs. 1.86 trillion, 4.8 per cent lower than the previous month

India's GDP growth likely to stay strong in Q2FY26, say economists

Economists say the effect of a low deflator and low base is likely to boost expansion

A tepid start: India's critical mineral block auctions see weak response

In these auctions, the government grants two types of concessions: a mining lease allows the winning bidder to directly undertake mining operations

Govt launches first Biofoundry Network with 21 facilities across India

India unveiled its first Biofoundry Network with 21 facilities nationwide to drive biomanufacturing, support start-ups, reduce imports and advance the $300 billion bioeconomy target for 2030

At $2.4 billion, India's current account back in deficit in June quarter

The current account deficit stood at $2.4 bn, or 0.2% of GDP, in the first quarter of the fiscal year 2025-26, compared with a surplus of $13.5 bn, or 1.3% of GDP, in preceding quarter, data showed

Gross GST mop-up rises 6.5% to ₹1.86 trillion in August, shows govt data

The August Goods and Services Tax (GST) mop-up is, however, lower than Rs 1.96 trillion collected in July. In August 2024, the collection was Rs 1.75 trillion

TCA Kalyani takes charge as Controller General of Accounts, Finance

T.C.A. Kalyani, a 1991-batch ICAS officer, has been appointed Controller General of Accounts, bringing her 34 years of experience in key ministries to the Finance Ministry

India's strong GDP growth fails to boost equity markets amid US tariffs

GDP in India grew at 7.8 per cent in April-June quarter in real terms, but nominal growth, which represents output at current market prices, fell to 8.8 per cent from 10.8 per cent in last 3 months

India pushes back at US over Russian crude, calls 'laundromat' claim false

India defended its Russian oil imports, saying it followed international rules and helped keep global prices stable, rejecting US claims that it fueled the Russian war effort

Manufacturing PMI hits 59.3 in Aug driven by rapid expansion in production

India manufacturing PMI hits 17 year high in August to 59.3 from 59.1 in July driven by a rapid expansion in production, shows HSBC survey as compiled by S&P Global

India's rise as China's economic alternative stalls under Trump's tariffs

A lurch in policy has shaken the India-U.S. economic alliance against China, leaving India little choice but to consider reversing its own strategy

Revenue deficit, capital spends: Key takeaways from 15th finance commission

The 15th FC had recommended a sizeable Rs. 2.9 trillion as revenue deficit grants (RDG) to a select number of states for FY2022-FY2026

India on track to enter top 5 semicon league by 2032: Ashwini Vaishnaw

The government has more or less committed $10 billion for the first phase of India's Semiconductor Mission (ISM)

Govt working on solutions to mitigate impact of US tariff hike: DEA secy

The government is well aware of that and is assessing the possible impact and working towards possible solutions, said DEA secy

Govt plans policy changes to boost domestic demand for SEZ manufacturers

Govt plans SEZ reforms to offset US tariff hit, enabling duty relief on domestic sales and support for labour-intensive exporters

Delhi to release ₹1,600 cr pending GST refunds to traders before Diwali: CM

To make the refund process faster and more transparent, the Delhi GST department, in collaboration with IIT-Hyderabad, has developed an advanced IT module, CM Gupta said

E-shoppers delay buying ahead of GST changes, festive sales likely to rise

As the industry prepares for the rollout of GST 2.0, the e-commerce sector is witnessing a noticeable shift in consumer behaviour

China to reimpose fertiliser export curbs, India braces for hike: SFIA

The temporary resumption of Chinese specialty fertiliser exports has provided short-term relief, but this reprieve will be brief as Beijing plans to tighten export controls

Gems, jewellery exporters seek govt relief as US tariffs hit industry

According to the GJEPC, overall gross exports of gems and jewellery witnessed an increase of 15.98 per cent to $2.17 billion in July