Page 400 - Economy
India's FY24 fiscal deficit lower than full-year target, shows govt data
The fiscal deficit came in at Rs 16.54 trillion ($198.34 billion), or 95.3% of the estimate, even as the government continued its record infrastructure spending to boost the economy
 "India's FY24 fiscal deficit lower than full-year target, shows govt data")
Forex reserves snaps three-week gaining streak, ease from record high
The reserves fell by $2 billion in that week, after rising by a total of $10.8 billion in the previous three weeks
 "Forex reserves snaps three-week gaining streak, ease from record high")
Core sector growth accelerates to 6.2% in April, shows govt data
The growth of these core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.6 per cent in April 2023
 "Core sector growth accelerates to 6.2% in April, shows govt data")
India Q4 GDP numbers today: Will the actual data match the predictions?
India's GDP growth rate accelerated to 8.4% in Q3FY24; FY24 growth estimate at 7.6%
 "India Q4 GDP numbers today: Will the actual data match the predictions?")
S&P Global to observe India's fiscal glidepath for possible rating upgrade
India aims to narrow its fiscal deficit to 4.50% of gross domestic product by the end of 2025/26, from an expected 5.8% in 2023/24
 "S&P Global to observe India's fiscal glidepath for possible rating upgrade")
Adopting global standards to help India improve quality of goods: GTRI
It also said that developing comprehensive quality infrastructure is essential for expertise, conformity assessment systems, and market surveillance
 "Adopting global standards to help India improve quality of goods: GTRI")
RBI transfers 100 tonnes of gold from UK to its domestic vaults in India
Reports say that another similar amount of gold could be en route to the country in the coming months
 "RBI transfers 100 tonnes of gold from UK to its domestic vaults in India")
Scorching heat may be blighting India's road to becoming a developed nation
India has a far poorer natural endowment of land than Europe, North America and China, the continental economies that preceded it on the road to riches
 "Scorching heat may be blighting India's road to becoming a developed nation")
Economy expected to have grown at slower pace in Jan-Mar qtr: Survey
The median forecast from a survey of 54 economists put GDP growth at 6.7% year-on-year for the three months, the fourth quarter of India's 2023-24 fiscal
Nearly 4 out of 5 digital transactions via UPI, says RBI annual report
The report further added that the Payments Infrastructure Development Fund (PIDF) has aided in the growth of digital payments in the last financial year, the RBI said
 "Nearly 4 out of 5 digital transactions via UPI, says RBI annual report")
Rs 500 note now 86.5% of currency in circulation by value: RBI report
The increase in the share of the Rs 500 note coincides with the declining share of the Rs 2000 note, which was only 0.2 per cent at the end of FY23
 "Rs 500 note now 86.5% of currency in circulation by value: RBI report")
India's FDI equity inflow at five-year low of $44 billion in FY24
High interest rates in advanced economies, limited absorptive capacity locally likely reasons
 "India's FDI equity inflow at five-year low of $44 billion in FY24")
Rs 2000 counterfeit notes more than double, says RBI annual report
Overall, the number of counterfeit notes detected in FY24 was lower than the previous year. There is a declining trend of counterfeit notes detected every year
 "Rs 2000 counterfeit notes more than double, says RBI annual report")
India's GDP growth likely to outpace China's in 2024-28, says EIU
The report suggests that as India's economic heft expands, there would be a crossover in the mid-2040s with BRICS nations taking over the G7 in terms of nominal gross domestic product (GDP)
 "India's GDP growth likely to outpace China's in 2024-28, says EIU")
US, UK in focus as pharma companies eye $31 billion exports in FY25
Industry also working to pump up business in Africa and Russia, regions battling geopolitical crises
 "US, UK in focus as pharma companies eye $31 billion exports in FY25")
Global perception of India is unequal and fragmented: Claude Smadja
To become an alternative to China, India has to address a big challenge -which is that the industrial base of India is too narrow, he said
 "Global perception of India is unequal and fragmented: Claude Smadja")
Why the unorganised sector, thanks to e-rickshaws, leads India's EV growth
While everyone's attention is riveted on electric two-wheelers and cars, e-rickshaws have proliferated, putting the unorganised sector in the forefront
 "Why the unorganised sector, thanks to e-rickshaws, leads India's EV growth")
RBI to allow opening of rupee account outside India to boost currency use
The RBI will permit opening of rupee (INR) accounts outside India by persons resident outside India (PROIs) as part of the 2024-25 agenda for internationalisation of the domestic currency
 "RBI to allow opening of rupee account outside India to boost currency use")
Patient safety outfit files PIL against 'dumping' of used medical devices
The domestic lobby felt that local manufacturers who stepped forward to make these devices in India under PLI are left dismayed as a result
 "Patient safety outfit files PIL against 'dumping' of used medical devices")
Investors bought Rs 27,000 cr of sovereign gold bonds in FY24: RBI report
The bonds bought by investors represented a whopping 44.34 tonne of gold during 2023-24. In 2022-23, Sovereign Gold Bonds (SGBs) representing 12.26 tonne of gold were purchased for Rs 6,551 crore
 "Investors bought Rs 27,000 cr of sovereign gold bonds in FY24: RBI report")