Page 424 - Economy

Mobile wallet payments in India to surpass Rs 531 trn in 2028: GlobalData

The value of mobile wallet payments in India, as per a GlobalData report, grew at a CAGR of 72.1 per cent between 2019 and 2023 to reach Rs 202.8 trillion in 2023

Bond yield touches 2-month high; tracking a rise in US Treasury yields

New 10-year bond becomes the second most traded

Centre appoints Manoj Panda as member of 16th Finance Commission

Panda's research areas span monitoring and analysis of macro-economic trends and prospects, evaluation of alternative trade and fiscal policy options from the point of view of growth and distribution

India's consumer price inflation likely eased to 4.91% in Mar: Reuters poll

Inflation was expected to return to the RBI's target next quarter but be above it in subsequent quarters, according to a separate Reuters survey on the longer-term outlook

Climate change poses challenges for policy, risks to growth: RBI report

The report said that climate change has increased the frequency and ferocity of weather shocks, posing challenges for monetary policy

Delhi electricity demand to cross 8GW this summer, discoms brace up

Both TPDDL and BSES stated they are fully geared to provide uninterrupted power supply

India's fuel demand up by 5% y-o-y in FY24, a new financial year record

Fuel demand for FY24 reached a record high of 233.276 million tonnes, up from 223.021 million tonnes the previous year

Investment bankers lead the charge with Rs 1,000 crore record haul in Q1

Top performers poised for bonus payouts equalling 1.2x annual pay

Kudos to CBIC for instructions on GST investigations

For issue of summons, prior approval of an officer not below rank of assistant/deputy commissioner must be obtained and relevancy and propriety of information/documents being sought must be recorded

India secures second overseas port: Sittwe agreement approved by MEA

India Ports Global is a company 100 per cent owned by the Ministry of Ports, Shipping and Waterways

Europe is the saving grace for declining Indian exports in 2023

This was driven by demand for products such as pharmaceuticals, textiles, petroleum products, engineering products, machinery, as well as chemicals, government data showed

Statsguru: The private sector investment cycle shows revival signs

The current uptick is spread out across multiple sectors. There have been a slew of announcements in the past two months, including the ground-breaking for three semiconductor facilities

Consumer confidence for year ahead improves further: RBI survey

Households' sentiments on the general economic situation and employment prospects recorded notable improvements for both the current period as well as the upcoming year

Railways on track to meet target of 100% electrification by FY25

Notably, the railways had electrified only 3,306 km of tracks in the previous financial year by February

PMO asks commerce min to examine model text of bilateral investment treaty

These pacts are important as India has earlier lost two international arbitration cases against British telecom giant Vodafone and Cairn Energy plc of the UK over the retrospective levy of taxes

Creating adequate fiscal space important to give impetus to growth: Kovind

Now there are fewer tax slabs, processes have been streamlined. taxation policy has become more predictable and investor confidence improved while ease of doing business has enhanced, he said

India-Singapore bilateral trade grows 18.2% to $35.6 bn in FY 2022-23

The cumulative FDI inflows from Singapore to India stood at $155.612 bn from April 2000 to December 2023, accounting for 23% of the total FDI flows into India

India aims to attract $100 bn a year in FDI as it woos China hedgers

Boosting the share of manufacturing in India's economy has been one of the key promises made by Modi, who is seeking a third term in elections that start on April 19

Would like inflation elephant to return to forest, stay there: RBI Guv Das

RBI monetary policy: In no hurry to cut repo rate, MPC keeps status quo; retains FY25 growth, inflation forecasts

Monetary policy: 'Real rates do matter, inflation must align with target'

Reserve Bank of India Governor Shaktikanta Das and Deputy Governor Michael Patra responded to a host of queries in the post-policy interaction with the media. Edited excerpts: