Page 156 - Economy

Ind-Ra cuts India's FY26 GDP growth forecast to 6.3% on weak outlook

Ind-Ra expects GDP in FY26 to grow 6.3 per cent y-o-y, 30bp lower than its earlier forecast of 6.6 per cent made in December 2024

Quartz exports decline 34% in FY25 as China slashes import volumes

After three years of steady growth, India's quartz exports slipped to 916 kt in FY25 due to a sharp drop in demand from China, which had been the top buyer in FY24

CBAM exemption may not offer much relief to Indian steel MSMEs: Experts

50-tonne threshold seen as too low to ease burden; experts call for green transition or market diversification

Outward remittances under RBI's LRS fall 4.4% to $2.3 billion in May 2025

RBI data shows decline in remittances for travel and education abroad while property and equity investments rise under Liberalised Remittance Scheme in May 2025

Android, Play Store generated ₹4 trn revenue, 3.5 mn jobs in India in 2024

In 2024, Indian apps saw 7,200 million downloads, including 1,200 million overseas, while Android and Google Play powered massive growth in jobs, revenue, and app security

US-Indonesia trade deal shows risks of pressure, India must be wary: GTRI

Indonesia gave up far more than it gained, removing 99 per cent of its tariffs on US goods

New NFRA chief Nitin Gupta brings experience of policy and Investigations

Nitin Gupta, the new chief of the National Financial Reporting Authority (NFRA), brings years of experience in policy-making and investigations, particularly in tackling complex financial issues

India-US trade deal: Exporters in a fix over possible tariff cost split

Begin talks with buyers, particularly for goods arriving at US ports on or after Aug 1

8th Pay Commission: Govt receives wish list from staff representatives

Finalising panel's terms of reference for hikes, which may kick in from Jan

India ratifies trade deal with EFTA, eyes boost in exports, investment

Under the pact, India has received an investment commitment of $100 billion in 15 years from the grouping while allowing several products

India, US complete 5th round of talks for trade pact: MoS Jitin Prasada

Similarly, twelve rounds of negotiations have been held so far between India and the European Union (EU) for the proposed free trade agreement

Few tariff exclusions in India-UK free trade agreement, says MEA

Agreeement gets Cabinet approval, likely to be signed on Thursday; highest priority to ensure energy security: Misri

'Govt does not foresee revenue shortfall, aims to achieve deficit target'

As per the Budget, the Centre has estimated the fiscal deficit for 2025-26 at 4.4 per cent of GDP, amounting to Rs 15.69 lakh crore

India needs $2.4 trn to build climate-resilient infra by 2050: World Bank

It recommended implementation of integrated urban flood risk management at national and state levels, with sustainable stormwater management at city level, along with heat mitigation actions

IMF's Gita Gopinath to return to Harvard University at end of August

She will become the inaugural Gregory and Ania Coffey Professor of Economics in the Department of Economics at Harvard University

Delhi govt's new industrial policy to push improved land use, infra upgrade

A draft of Delhi Industrial Policy for the next 10 years has been put in public domain by the government for getting stakeholders' feedback on it till July 30

PSBs flag 1,629 wilful defaulters with dues over ₹1.62 trillion: FinMin

Public sector banks have identified 1,629 wilful defaulters with outstanding loans totalling Rs 1.62 lakh crore as of March 31, 2025, according to the Union Finance Ministry

Turning used cooking oil into diesel blending feedstock remains a challenge

India's biodiesel blending rate was at a mere 0.60 per cent in FY25, against a target of 5 per cent by 2030, largely because of limited investments and challenges in collection of used cooking oil

Can the employment-linked incentive scheme address India's jobs challenge?

The ELI scheme aims to support employment generation of more than 35 million jobs in two years with an outlay of Rs 1 trillion

PLI scheme for bulk drugs led to import savings of ₹1,362 cr: Govt to RS

In a written reply to Rajya Sabha, Minister of State for Chemicals and Fertilisers, Anupriya Patel said that as of March 2025