Page 388 - Economy

Budget 2024: Subsidies likely to remain same, rural funding may rise

The Budget is anticipated to be unveiled in the third week of July. The NDA 3.0 administration might strengthen specific welfare-oriented schemes, prioritising fiscal prudence

Fitch raises India's growth estimates for FY25 to 7.2% as investments rise

Fitch's estimates are in line with that of RBI which earlier this month projected Indian economy to expand 7.2% in the current fiscal on the back of improving rural demand and moderating inflation

Tears in your eyes: Onion buffer stock way below the govt's FY25 target

Due to trader hoarding and farmers' reluctance to sell their stock, the government has only achieved less than 10 per cent of its 500,000-tonne onion buffer stock target

Fitch ups 2024 world growth forecast to 2.6%; cautions on inflation

However, for 2025, Fitch expects world growth to edge down to 2.4 per cent as US growth slows to a below-trend rate of 1.5 per cent and growth in the Eurozone picks up to 1.5 per cent

South Africa approves import of mangoes from India: APEDA official

Almost every Indian restaurant in South Africa which provides mango juice or mango lassi uses our pulp, which is imported from India, a mango exporter said

India's LNG resurgence may be short-circuited by rising costs of spot fuel

Spot LNG prices in Northeast Asia were at $12.20 per MMBtu, according to US market intelligence agency Energy Intelligence for deliveries four to eight weeks ahead

Net direct tax collections grew 9.8% to Rs 4.62 trillion till mid-June

Of the total tax collected until June 16, corporation tax accounted for Rs 1.81 trillion, while personal income tax (I-T) stood at Rs 2.69 trillion

Corporate capex growth slows in FY24 after picking up pace in FY23

The firms in these two sectors together accounted for 30 per cent and 15 per cent of the fixed assets of all companies, respectively, in the sample in FY24

Budget 2024-25 likely to retain FY25 fiscal deficit target of 5.1%

Record RBI dividend may guide likely focus on capex, special package

Centre developing mechanism to validate refund claimed under RoDTEP

The scheme came into effect over three years ago to refund the embedded non-creditable central, state and local levies paid on inputs to exporters to boost India's exports

Three-wheeler exports may continue to skid in FY25 over subdued demand

As such three wheeler exports have been declining. According to SIAM data, in FY23, exports fell by 26 per cent, followed by a 17 percent fall in FY24

Centre introduces rules for offshore minerals ahead of the auctions

Now, G2 needed for mining leases, while G4 must for obtaining composite licences

Modi govt has increased devolution of taxes to states: Hardeep Singh Puri

On Sunday, Karnataka became the first state to raise taxes on petrol and diesel after the General Elections 2024

India has option to hit back at EU tariffs with retaliatory custom duties

The EU has extended safeguard duties on certain steel imports, scheduled to expire this month, by another two years till 2026

Trade bodies in Rajasthan seek budgetary, tax reforms to boost development

"This force should also be responsible for budgetary reforms of the state government," said Kailash Sharma, senior vice-president of ARTIA

Gold, silver import from UAE surges 210%, need duty revision in FTA: GTRI

India allows 7 per cent tariffs or customs duty concessions on import of unlimited quantities of silver and a 1 per cent concession on 160 metric tonnes of gold

National health mission drives standardisation in public healthcare system

The Ministry of Health & Family Welfare has adopted a multi-pronged strategy to address the challenges pertaining to underutilisation of public healthcare facilities and missed diagnosis on priority

UK overtakes China as India's fourth-largest export market in May

Exports to the European nation grew by a third to $1.37 billion in May. While the disaggregated data for the month of May wasn't immediately available

Fearing Donald Trump victory, developed countries push WTO deals

But India not keen to join efforts on fisheries and e-commerce JSI

Cargo handling at India's major ports up 6% to 72 million tonnes in May

Overseas cargo saw a 7.3 per cent growth in May; Kandla bounces back