Page 347 - Economy

India's foreign exchange reserves rise by $4.54 billion to $674.66 billion

Gold reserves rose by $865 million during the week, while Special Drawing Rights (SDRs) increased by $60 million

Engineering exports register 3.6% growth in July amid global challenges

The Engineering Export Promotion body EEPC India chairman Arun Kumar Garodia said the engineering goods exports were USD 9.04 billion in July 2024, compared to USD 8.72 billion a year ago month

Odisha's unemployment rate at 3.9%, situation worse in urban areas: Govt

There were 11,04,229 youths -- 3,86,699 females and 7,17,530 males, who registered themselves with different employment exchanges in the state till May 31, 2024, he added

Rising costs from T+1 timeline may push weaker P2P players to the brink

While there are 26 licensees, only 10-11 players are active in this space, with the industry's assets under management totalling Rs 11,000 crore

Stats ministry to work closely with states on local GDP numbers: Secretary

Purpose is to ensure that data collected is 'accurate and clear', he says

India's forex reserves jump by $4.54 bn to $674.66 bn as of August 16

In the previous week, the forex kitty had dropped by USD 4.8 billion to USD 670.119 billion. On August 2, the overall reserves hit an all-time high of USD 674.919 billion

Peak power demand to grow by 15GW per year for next 6 years, says govt

The Ministry of Power has set a target of 500 GW capacity from non-fossil fuel-based sources by 2030

US top trading partner, China trade deficit highest in Jan-Jun 2024: GTRI

China topped the list with a substantial trade deficit of $41.6 billion, as exports to China were $8.5 billion, while imports reached $50.1 billion during January-June 2024, the report added

Suchi semicon plans $100 mn investment into OSAT plant in Gujarat

The company has planned the project in five phases. In the first phase, starting in November this year, it will focus on creating chips that will power legacy devices

'Complex and expensive': Further tranches of sovereign gold bonds unlikely

The July Budget reduced the import duty on gold from 15 per cent to 6 per cent, lowering input costs for jewellers and deterring smugglers

Proposed digital antitrust law likely to cover 'killer acquisitions'

Killer acquisitions are deals where a dominant company acquires a smaller innovative firm to prevent competition

Softer rise in manufacturing output slows flash PMI to 60.5 in August

Pace of expansion remains sharp and indicates strong demand and favourable market conditions, HSBC survey

Economic momentum intact for 6.5-7% growth in FY25: Finance Ministry

The ministry added that both the consumer and industrial outlook surveys, which showed a declining trend, need to be monitored for future trends

Not opposed to e-commerce, only want fair competition: Piyush Goyal

Says government aims to balance online and offline businesses, not stifle digital growth

CBDT forms committee to review I-T Act, 'sunset' clauses to be eliminated

The panel, comprising income tax (IT) officials from across the country, has started working to identify areas of improvement in the Income Tax Act, 1961

MPC internal and external members differ on growth, inflation outlook

Deputy governor Michael Patra also warned about the spillover effects of food inflation

Principal scientific advisor bats for inclusion of e-trucks in FAME-III

Outlines comprehensive plan to transition India's trucking sector to zero-emission vehicles

Financial institutions should deploy measures to help MSMEs: RBI dy guv

Restructuring, grace periods and tailored repayment plans can be used as tools, says Swaminathan

FM Nirmala Sitharaman seeks RBI help to clear RRB dues with states

The finance minister also directed RRBs to become more customer-friendly and use their local connections to further improve performance

Vadhvan port to rank among top 10 global container ports, says Sonowal

16 green parks to be incorporated across the 12 major Indian ports as part of the green parks transition initiative