Page 408 - Economy
Inflation seen closer to target in FY26: RBI's state of the economy report
The report says there is a growing optimism that India is on the cusp of a long-awaited economic take-off
 "Inflation seen closer to target in FY26: RBI's state of the economy report")
Laptop, tablet imports from China surged 47% to $273.6 million in March
With the import monitoring system now in place, the government is able to collect data about specific products coming in from different sources
 "Laptop, tablet imports from China surged 47% to $273.6 million in March")
Govt continues curbs on import of unregistered IT, electronic goods
Rules referred to 2012 have been replaced with 2021 and there is no change in policy, says senior government official
 "Govt continues curbs on import of unregistered IT, electronic goods")
FM Nirmala Sitharaman asks ICAI to set up 'Big 4'- like Indian firm
Interacting with the ICAI in Patna, Sitharaman sought a commitment from them to start work on the same as part of their 100-day agenda for Viksit Bharat by 2047
 "FM Nirmala Sitharaman asks ICAI to set up 'Big 4'- like Indian firm")
Govt asks state-run oil refiners, RIL to jointly negotiate Russia oil deal
Reliance is unlikely to share sensitive information with the state oil refiners given they're competitors in the domestic fuel market
 "Govt asks state-run oil refiners, RIL to jointly negotiate Russia oil deal")
Outward remittances under LRS hit new high of $31.73 bn: RBI data
The remittances have seen a continuous increase in the last 10 years owing to improved per capita income in the country
 "Outward remittances under LRS hit new high of $31.73 bn: RBI data")
Tourism's share in global GDP to return to pre-Covid levels this year: WEF
India soars to 39th, sole South Asian nation in top 50: WEF
 "Tourism's share in global GDP to return to pre-Covid levels this year: WEF")
Good food journey: How India can build on gains from the year of millets
Year of millets over, we need to dedicate a decade to these grains to build on the gains of 2023
 "Good food journey: How India can build on gains from the year of millets")
Ireda to issue FPO this financial year to support its growing size
IREDA launched its initial public offering (IPO) in December 2023 and debuted on Dalal Street after two failed attempts over the last decade
 "Ireda to issue FPO this financial year to support its growing size")
NRI deposit flows up 63.5% to $14.7 bn in FY24, the highest in 8 years
FCNR deposits were at $25.73 billion in March 2024, up from $24.90 billion in February 2024. This was higher than the $19.36 billion at the end of March 2023
 "NRI deposit flows up 63.5% to $14.7 bn in FY24, the highest in 8 years")
Manufacturing share in capital formation down between FY19 and FY23
The report notes that the share of public administration and defence improved, attributable to increased government spending
 "Manufacturing share in capital formation down between FY19 and FY23")
India on cusp of long-awaited economic take-off: RBI monthly bulletin
The outlook for global economy is turning fragile as descent of inflation is stalling, re-igniting risks to global financial stability, said an article on 'State of the Economy' published in Bulletin
 "India on cusp of long-awaited economic take-off: RBI monthly bulletin")
Household savings likely to rise in FY24, liabilities to moderate: CRISIL
It can be noted that official data released last year showed a dramatic fall in India's net financial household savings rate to a 47-year-low of 5.3 per cent from 7.3 per cent in FY22
 "Household savings likely to rise in FY24, liabilities to moderate: CRISIL")
Demand for skilled Indian blue-collar workers goes up by 25% in UAE: Report
In terms of job roles, the demand for electricians, plumbers and technicians has grown at a rate of around 20-25 per cent over the past year, it added
 "Demand for skilled Indian blue-collar workers goes up by 25% in UAE: Report")
India's crude oil import bill soars as Russian discount halves since Feb
India's crude oil import reliance hit a record 87.8 per cent in FY24 and is expected to rise in FY25 due to growing demand and stagnant domestic production
 "India's crude oil import bill soars as Russian discount halves since Feb")
Study on Covaxin should revise statement on conclusions for clarity
It likely overstates actual risks associated with the vaccine and conflates common illnesses with vaccine-related adverse effects
 "Study on Covaxin should revise statement on conclusions for clarity")
India's role in easing fragmentation of global trade amid US-China tensions
Considering India's merchandise exports, the US is still our largest partner. But, it is India's imports that have solidified China as a significant trading partner
 "India's role in easing fragmentation of global trade amid US-China tensions")
India's Q4 GDP growth projected at 6.7%, FY24 growth at 7.8%, says ICRA
The Indian economy grew 8.2 per cent in the June quarter, 8.1% in the September quarter and 8.4% in the December quarter of 2023-24
 "India's Q4 GDP growth projected at 6.7%, FY24 growth at 7.8%, says ICRA")
India's Russian oil imports rise to 9-mth high in April as shipments resume
India, the world's third-biggest oil importer and consumer, is the top client for Russian seaborne oil
 "India's Russian oil imports rise to 9-mth high in April as shipments resume")
India to expand overseas port operations with Mongla terminal in Bangladesh
This will be the third international port operations by India after Chabahar in Iran and Sittwe in Myanmar and will be managed by IPGL
 "India to expand overseas port operations with Mongla terminal in Bangladesh")