Page 379 - Economy

Rs 44k cr push for India-made global brands in electronics, semiconductor

A key distinction in the task force's proposal is its focus on benefiting Indian companies exclusively, a departure from the PLI scheme that involves significant participation from global players

RBI governor Das asks banks to strengthen governance, risk management

The governor also noted the continued improvement in banks' asset quality, loan provisioning, capital adequacy, and profitability

Centre may hike transfers to farmers under PM Kisan, MGNREGA: Elara Capital

It added that the Centre is likely to retain the fiscal deficit target of 5.1 per cent for 2024-25 with a possibility of a downward revision of 10 basis points

GST Council decisions to be incorporated in the Finance Bill: CBIC Chief

CBIC Chairman Sanjay Kumar Agarwal said at the 53rd GST Council meeting rate rationalisation was proposed on some goods and services

US weekly unemployment claims rise, pointing to labour market slowdown

Initial claims for state unemployment benefits rose 4,000 to a seasonally adjusted 238,000 for the week ended June 29, the Labor Department said on Wednesday

Revenues of top 18 states to grow 8 to 10% this financial year: CRISIL

The growth will be primarily driven by robust GST collections and devolution of finances from the Centre according to the report

Urban consumer sentiment at a 60-month high; rural areas less optimistic

Rural consumer sentiment is at its lowest level in FY25

India faces high debt, but sustainable for now: NCAER director-general

NCAER Director General Poonam Gupta said India's high debt levels are sustainable for now because of higher real or nominal GDP and as most of the debt is held in rupee

GST's revenue performance: Centre's sacrifice for cooperative federalism

Over the past few years, most commentators have rightly emphasised the tensions in Centre-state fiscal relations, pointing especially to the Centre's repeated recourse to non-sharable cesses

RBI moots rationalisation of norms for export, import transactions

According to draft norms, every exporter should furnish a declaration specifying the amount of the full export value of the goods or services

Priority sector tag needed for women-led rural enterprises: World Bank

Recommends institutional reforms to support growth and contribution of women's entrepreneurship

Heatwave grip on May consumption, base-year effect cool GST growth

Analysts suggest that while this does not signify a slowdown, it indicates a moderation in consumption, likely influenced by severe heatwave conditions prevailing in the country during May

Our decisions affect nation's economy: New CBDT chief to I-T officials

Ravi Agrawal, 59, took charge as the head of the administrative body of the direct taxes department in the Union finance ministry on Monday

Is India's economic growth really weak and could a repo rate cut boost it?

An external member of the MPC highlighted that India's economic growth is below potential, with weak consumption contributing to the slowdown

GST Council's key state panel for rate changes may face another revamp

In the last reorganisation of this panel, at the GST Council meeting on June 22, Bihar Deputy Chief Minister Samrat Chaudhary was appointed as its convenor

India's medical tourism gets booster shot from Bangladesh visitors

During the general elections, however, there has been a temporary lull in patients from Bangladesh as well as less visas were issued

New projects in April-June down over 90% to lowest on record, shows data

Election quarter also marked by lower project completions

GST collection at Rs 1.74 trillion in June, but growth slows to 7.7%

Growth less than 12.4% recorded in April and 10% in May

Higher demand pushes hiring up as manufacturing PMI touches 58.3 in June

A figure above 50 in the index denotes expansion and that below signifies contraction

From Jan lows Russian oil rebounds to 45.4% of Indian crude imports in June

Russian volumes have surged amid shrinking discounts for the grades. Discounts averaged $10 per barrel on a delivered basis off Brent crude in mid-2023 compared to over $4 per barrel now