Page 404 - Economy
Statsguru: Rising summer temperatures push power demand in India
Increased use of cooling equipment during heatwaves is said to be a key reason, although only around a quarter of households own air conditioners or air coolers in India
 "Statsguru: Rising summer temperatures push power demand in India")
India in trade deficit with 9 of top 10 trading partners in 2023-24: Data
China has emerged as India's largest trading partner with $ 118.4 billion of two-way commerce in 2023-24, edging past the US
 "India in trade deficit with 9 of top 10 trading partners in 2023-24: Data")
India initiated efforts to create FTA between 2 nations: Maldives minister
Even without an FTA, India has offered concessions on several products to the Maldives, news portal Edition.mv quoted the minister as saying
 "India initiated efforts to create FTA between 2 nations: Maldives minister")
Indian startup ecosystem is mature, set to bolster economy: AWS' Raghavan
India's strong developer ecosystem has further bolstered the startup scene, offering a competitive advantage and fostering a culture of innovation, Raghavan, Head, Startups, AWS India, added
 "Indian startup ecosystem is mature, set to bolster economy: AWS' Raghavan")
Development path for India will not be the same as China's: CBC chairman
According to the World Bank, China's strong growth has been based on investment and export-oriented manufacturing, an approach that has largely reached its limits
 "Development path for India will not be the same as China's: CBC chairman")
Govt's telecom revenue for FY24 expected to miss target by Rs 10,000 cr
Under the 2022 revival package totalling Rs 1.64 trillion and the Rs 89,047 crore allocation in 2023, the government is set to provide spectrum and settle adjusted gross revenue (AGR) dues for BSNL
 "Govt's telecom revenue for FY24 expected to miss target by Rs 10,000 cr")
Rupee strengthens 18 paise to close at 2-month high on back of FPI inflows
Market participants said that the rupee gave up some gains by the end of the trade as the Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar buys
 "Rupee strengthens 18 paise to close at 2-month high on back of FPI inflows")
After strong FY24, economic growth momentum to stay in Q1FY25: FinMin
Flags rise in commodity prices due to geopolitical tensions
 "After strong FY24, economic growth momentum to stay in Q1FY25: FinMin")
99.9% would pay no inheritance tax if bar set at Rs 10 crore: Study
World Inequality Lab says tax gains could raise health, education expenditure
 "99.9% would pay no inheritance tax if bar set at Rs 10 crore: Study")
India's forex kitty reaches new high of $648.7 bn after $4.55 bn jump
This is the third consecutive week of increase in the overall kitty, which had increased by $2.561 billion to $644.151 billion in the previous reporting week ended May 17
 "India's forex kitty reaches new high of $648.7 bn after $4.55 bn jump")
Wheat procurement exceeds last year's total of 26.2 million tonnes
The government has set a wheat procurement target of 300-320 million tonnes for the 2024-25 marketing year
 "Wheat procurement exceeds last year's total of 26.2 million tonnes")
RBI dividend usage to signal new govt's fiscal priorities: Ratings agencies
The general elections are currently underway and a new government would be formed sometime next month. A full budget for 2024-25 fiscal would be tabled in July
 "RBI dividend usage to signal new govt's fiscal priorities: Ratings agencies")
RBI shifts to NDFs as preferred forex reserves intervention option
The Reserve Bank of India (RBI) has traditionally been more active in the local over-the-counter (OTC) spot market to keep the rupee stable
 "RBI shifts to NDFs as preferred forex reserves intervention option")
India's new govt will be spoilt for choice with $25 bn extra in kitty
On Wednesday, the RBI announced a record Rs 2.11 trillion dividend transfer to the government
 "India's new govt will be spoilt for choice with $25 bn extra in kitty")
UK's July general election: It's impact on India FTA, Indo-Pacific tilt
Very small window that was open for a deal being clinched by the Sunak-led Tory government has now been swept away in the election wave of both countries
 "UK's July general election: It's impact on India FTA, Indo-Pacific tilt")
US Treasuries behind RBI's Rs 2.1 trillion bumper surplus to Centre
Dollar sale also helped; Such high surplus likely to be one-off
 "US Treasuries behind RBI's Rs 2.1 trillion bumper surplus to Centre")
Early general elections in UK may further delay FTA deal with India
Sunak sprang a surprise on Wednesday by advancing the election to July 4, well ahead of the January deadline
 "Early general elections in UK may further delay FTA deal with India")
ILO to hold talks to add framework for workforce protection in care economy
Member countries, including India, are expected to develop their national policies for promotion of care workers in line with international standards
 "ILO to hold talks to add framework for workforce protection in care economy")
Indian firms' external commercial borrowing registration up 84% in FY24
Value doubles to $49.2 bn as firms raise capital for modernisation projects and infrastructure development
RBI's surplus transfer sparks hope for reduced govt borrowing by Rs 1 trn
Bond market participants are now focusing on the monetary policy meeting in June to assess the central bank's liquidity stance
 "RBI's surplus transfer sparks hope for reduced govt borrowing by Rs 1 trn")