Page 357 - Economy

CRISIL SME Tracker: Weak demand a painful cut for diamond polishers

In the FY24, exports of cut and polished diamonds, which account for about 60 per cent of India's gems and jewellery exports, fell nearly a third year-on-year

India's family-owned biz projected to drive 85% of GDP by 2047: McKinsey

From 2017 to 2022, FOBs outperformed non-family-owned businesses, reporting approximately 2.3% higher revenue growth

The tax issue: Karnataka withdraws Infosys notice, Centre may go for review

DGGI to examine if June 26 circular can apply in this case

Crude oil output costs to rise by $1 per barrel on Union Budget move

Removal of duty exemptions on chemicals may lead to annual rise of $40 mn

Projects worth Rs 3 trn to be awarded by road ministry in 3 months: Gadkari

Gadkari noted that the road ministry has a lot of road projects in the pipeline, and raising funds for the projects will not be a problem, as NHAI has a very good reputation in the capital market

Gaining momentum: UPI transactions top Rs 20 trn for third straight month

NPCI's data shows that the average daily transaction count on UPI in July was 466 million, amounting to Rs 66,590 crore

Softer increase in new orders, output slows down manufacturing PMI in July

However, international sales expanded at the fastest pace in over 13 years, while job creation remained robust, and selling prices saw the steepest increase since October 2013

New milestone: GST collection rises 10.3% to third highest at Rs 1.82 trn

As per data released by the government, total refunds stood at Rs 16,283 crore in July

Govt to decide on sovereign gold bond scheme continuation in September

Recently, SGB investors have expressed concerns due to market fluctuations and the government's decision to lower the customs duty on gold which may result in reduced returns on their investments

Myth or fact: Panellists debate if India's tax base is too narrow

Bhalla, who was India's executive director at the International Monetary Fund, argued that the belief that only 1-2 per cent of the population pays taxes is unfounded

K'taka govt launches cybersecurity policy, outflow of Rs 103 cr for 5 years

The report stated that Rs 23.74 crore of the total budget would go towards providing incentives and concessions

MGNREGA demand dips 19% as agriculture activities pick up pace

July and August are usually considered lean months for the scheme in terms of demand for work as agricultural activities are in full swing in the rural parts of the country

Centre to monitor wholesale and retail prices of 16 more food items daily

Allows states to buy rice for their schemes; starts selling tomatoes at Rs 60/kg in Delhi

RBI's tighter liquidity norms credit positive for banks, says Moody's

The central bank released a set of preliminary guidelines last month, including suggesting that banks will be required to allocate an additional 5 per cent reduction in the stability of retail deposit

97.92% of Rs 2,000 banknotes returned; Rs 7,409 cr worth still with public

On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation

Factories across Europe, Asia struggled in July as demand waned, shows PMIs

It was a broadbased downturn in the euro zone while a slump in China's manufacturing activity suppressed its Asian neighbours

RBI releases draft rules for Aadhaar based payment operators to avert fraud

The proposals focus on streamlining the process for onboarding of AePS touchpoint operators and on-going due diligence, as per an official statement on the central bank website

Strategic reforms can enhance India's appeal to global investors: GTRI

India attracted $44.4 billion in FDI (foreign direct investment) in FY2024, which is only 1.1% of its GDP

Commercial LPG rate up by Rs 6.5 per cylinder, jet fuel price hiked 2%

Rate of cooking gas used in domestic households, however, remained unchanged at Rs 803 per 14.2-kg cylinder

Mid-tech FDI for job creation need of the hour: Business Standard panel

Panel stresses the need to keep import tariffs low and stable; says private sector required to create jobs as mentioned in Budget