Page 428 - Economy

RBI defers implementing rules on exchange-traded forex derivatives to May 3

RBI said the regulatory framework for participation in ETCDs involving the Indian rupee (INR) is guided by the provisions of the Foreign Exchange Management Act (FEMA), 1999

Secretaries in a huddle to prepare five-year roadmap of next govt

Full-year Union Budget to lay out Viksit Bharat vision

Battery cell demand for EVs to rise, India's reliance on imports continues

S&P Mobility said that while Maruti has a tiny EV market share, its battery cell demand is expected to be 20 per cent by 2035, as against Tata Motors at 22 per cent

Meity chips away at doubts, defends its domestic semiconductor policy

Govt's sequential approach targets mature nodes, foreseeing a conservative $100 billion chip demand in five years

GenAI, GCCs to help boost Indian economy in coming years: Deloitte

The report pointed out a close connection between technological adoption and accelerated economic growth

RBI delays implementing rules on exchange-traded derivatives till May 3

"In view of feedback received and recent developments, it has been decided that these directions will now come into effect from Friday, May 03, 2024," RBI said

PM Modi sets ambitious India economic goals for probable third term

For the next six years, Modi's goal is to raise per capita income to $4,418 from around $2,500, the document says, without specifying the spending or reforms needed to achieve that

CBDT enables ITR e-filing portal for FY24; 23,000 returns filed in 4 days

Facility to file ITRs 3, 5 and 7 will be made available soon

Rakesh Mohan appointed a member of World Bank economic advisory panel

Currently, Mohan is serving as president emeritus and distinguished fellow at CSEP and is also part-time member of the Prime Minister's Economic Advisory Council

Govt bond yields little changed ahead of Friday's key interest decision

The benchmark 10-year bond yield ended at 7.0934%, following its previous close of 7.1030%

4 shocks pushed up prices, led to supply disruptions and price reactions

Easing inflation, a smaller fiscal deficit and a turn in US Federal Reserve's policy rates create grounds for policy rate cuts in India

Services PMI registers strongest growth in 13.5 yrs, rises to 61.2 in Mar

In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction

China becomes largest buyer of Russian seaborne crude as India goes slow

China imported 1.82 million barrels per day of Russian crude by sea in March, exceeding India's 1.36 million bpd

India aims for 1st strategic petroleum reserve with pvt company by 2029-30

So far, India has allowed only partial commercialisation for its three existing SPRs in southern India, which have a combined capacity of 36.7 million barrels

Govt hikes windfall tax on crude to Rs 6,800 for 5th time since Feb

The windfall tax, which is revised fortnightly, remains at zero for diesel and aviation turbine fuel

How monetary transmission may hold key to policy stance, Das clarifies

The monetary policy committee of the RBI had hiked the policy repo rate by 250 basis points (bps) between May 2022 and February 2023 before hitting a pause

Merchandise exports may shrink despite expecting double-digit growth in Mar

Merchandise exports grew at fastest pace in 20 months at 11.9% in Feb

Foreign exchange derivatives market in a fix before new RBI rules

Average daily turnover may decline further; Rupee slips to fresh low vs Dollar

Indirect tax collection for FY24 exceeds RE by significant margin: CBIC

The RE for central GST, including compensation cess, was Rs 9.57 trillion, while for excise duty it was Rs 3.08 trillion and customs Rs 2.19 trillion

NHAI executed capex for FY24 increases by 20% to Rs 2.07 trillion

The highway authority has constructed 6,644 km stretch, exceeding its FY24 construction target, according to an official