Page 26 - Economy

May withdraw NCLAT appeal if Jalan-Kalrock deposits Rs 350 cr: Jet lenders

The appeal filed by the State Bank of India, the chief creditor to Jet Airways, is related to the transfer of the ownership of Jet Airways to the Jalan-Kalrock consortium

Ageing wells, govt pricing, tax policies hamper crude oil production

Production has been falling consistently over years

License to lease: How WTO provision became tool for nations to curb imports

While a WTO challenge to India's import curbs on laptops, tablets and personal computers may not happen anytime soon, how it implements the notification will be under close scrutiny

Educated women can make greater contribution to economy: President Murmu

President Droupadi Murmu on Sunday said educated women can make greater contribution to the economy, provide leadership in various sectors and make a positive impact on the society. In her address at the 165th convocation of the University of Madras here, she said about 1.85 lakh students are currently studying in the varsity and its affiliated colleges and out of them more than 50 per cent are girls. "The University of Madras is a shining example of gender equality." The President said "we are investing in the progress of our nation" by investing in the education of girls. Educated women can make greater contribution to the economy, provide leadership in various sectors and make a positive impact on the society, she underlined. Congratulating the graduating students, Murmu said this region has been a cradle of civilisation and culture. "Tirukkural is guiding all of us for centuries." The great bhakti tradition of poetry originated in Tamil Nadu and it was taken to the north of the

Pakistan's inflation touches 29.8% amid rise in food, energy prices

Out of these commodities, the price of milk, sugar, and firewood went up; wheat flour and vegetable ghee decreased; whereas prices of long cloth, and electricity remained unchanged

NZ to boost defence capabilities amid increasing tensions in Pacific

New Zealand said Friday it plans to boost its defence capabilities as tensions rise in the Pacific, due in part to a military buildup by China. Defence Minister Andrew Little said current defence spending amounted to about 1 per cent of the nation's economy, a proportion he expected would need to increase, although not as high as 2 per cent. He said replacing aging navy frigates and patrol vessels is among the most pressing needs under consideration. He said the country is also facing an increase in domestic threats such as misinformation, cyberattacks and terrorism. The new defence policy paper released by Little contained no specifics about increases in spending, equipment or troops, with those details expected to be finalized in a later plan. Rather the paper pointed to a rethinking about the role of the nation's military, which has often been used primarily to act as peacekeepers or provide aid when Pacific countries are hit by natural disasters. Now, the paper said, New Zeala

India's overall unemployment rate falls in July due to farm demand

The total joblessness rate fell to 7.95% in July, from 8.45% in June, according to data released by private forecaster Centre for Monitoring Indian Economy

12th round of India, UK free trade agreement talks to begin from August 7

As India and the UK are close to concluding negotiations for a proposed free trade agreement (FTA), chief negotiators of both countries will hold the 12th round of talks from August 7 here, an official said. Both sides are looking at concluding the talks before the end of the year. The main issues which could come up for discussions in this round include investment treaty, reduction of duties on auto and whiskey and matters pertaining to services, the official said. The 11th round of talks was concluded last month. For that round, Commerce and Industry Minister Piyush Goyal and Commerce Secretary Sunil Barthwal visited London and took stock of the negotiations. Out of the total 26 chapters in the FTA, 19 have been closed. Investment is being negotiated as a separate agreement (bilateral investment treaty) between India and the UK and it would be concluded simultaneously with the free trade agreement. In the rules of origin chapters, product specific rules are being negotiated whi

India manufacturing PMI softens in July to three-month low: S&P Global

Manufacturers' output has increased continuously on a monthly basis since July 2021

National power consumption grows by 8.4% to 139 billion units in July

The country's power consumption grew by 8.4 per cent to 139 billion units in July this year compared to the same month last year. In the year-ago period, power consumption stood at 128.25 billion units (BU), higher than 123.72 BU in July 2021, according to the government data. The peak power demand met, which is the highest supply in a day, rose to 208.82 GW in July 2023. The peak power supply stood at 190.35 GW in July 2022 and 200.53 GW in July 2021. The power ministry had estimated the country's electricity demand to touch 229 GW during the summer season. But the demand did not reach the projected level in April-May this year due to unseasonal rains. Power consumption was affected in March, April, May and June this year due to widespread rains in the country. Experts said that unseasonal rains in March, April, May and June affected the power consumption in the country. However, they said that the power consumption growth was not that bad in June this year and improved significa

PLI, tax benefits and more: Niti's advice to boost EV battery manufacturing

The Niti Aayog suggested that the Centre should give impetus to scaling up lithium-ion battery (LIB) recycling infrastructure to complement the extraction efforts of critical minerals

War, AI and climate change shaking up $32 trillion in global trade

Long before these trends are reflected in government data, they're already changing global commerce, which amounts to $32 trillion a year in goods and services

Indian exports face bigger threat from Asia-Pacific than West: CRISIL

CRISIL also said that the share of the US and the EU in India's goods exports has been on the rise since 2021 and it is eating into the share of the APAC region

World looking at India as nursery of new possibilities: PM Narendra Modi

The world is looking at India as a nursery of new possibilities and several countries are approaching the government for setting up IIT campuses there, Prime Minister Narendra Modi said on Saturday. Delivering the inaugural address at the "Akhil Bhartiya Shiksha Samagam" on the third anniversary of the launch of the National Education Policy (NEP), the prime minister said various global universities are also interested in setting up their campuses in India. "The world is looking at India as a nursery of new possibilities. Many countries are approaching us to open IIT (Indian Institute of Technology) campuses there. Two IIT campuses -- one in Tanzania and one in Abu Dhabi -- are already about to start operations.... Various global universities are also reaching out to us, expressing their interest in setting up campuses in India," Modi said. The prime minister said judging youngsters on the basis of their language rather than their talent is the biggest injustice. "The NEP aims at .

India can become $7 trn economy by 2030: Volvo Group president Kamal Bali

India can become a USD 7 trillion economy, doubling its current size, by 2030, and the impact of this economic expansion will also be felt on an individual level with per capita income expected to surge, Volvo Group India president and managing director Kamal Bali said on Friday. India is the fifth-largest economy, with a GDP of over USD 3.7 trillion. Commenting on the exponential growth, Kamal Bali, who is also Chairman, CII Southern Region, said, "We can become a USD 7 trillion economy, doubling our current size by 2030. This remarkable growth signifies something of utmost significance beyond mere numbers." He was speaking at the CII Northern Region Conference on 'achieving excellence in manufacturing' with the theme of 'Powering the Disruptive Technologies.' According to a CII release, Bali said that the impact of this economic expansion will be felt on an individual level, as the per capita income of Indians, currently around USD 2,300, is expected to surge to nearly USD 4,500

Trillion-dollar economy target: Policy in the works to boost FDI in UP

The state now plans to organise a groundbreaking ceremony to kick-start the first tranche of projects from GIS 2023, which will include a range of FDI projects

India could face 3rd highest economic burden of COPD from 2020-50: Lancet

India is estimated to face the third highest economic burden of chronic obstructive pulmonary disease (COPD) from 2020-50 after China and the US, new research published in The Lancet Global Health journal said. The third leading cause of death worldwide, COPD caused 3.3 million deaths in 2019, it said, with China recording the highest toll, followed by India and the USA. The global death toll of COPD was found to have increased by 14.1 per cent between 2009 and 2019, an increase that the study attributed to factors such as urbanisation, air pollution, and tobacco use. Modelling COPD's economic burden for 204 countries and territories in 2020-50, the study found the disease to cost the world economy INT$4.3 trillion, the equivalent of a yearly tax of 0.11 per cent on global GDP and nearly half of India's total GDP in 2019. INT$, or International Dollar, is a hypothetical currency having the same purchasing power parity that the US dollar had in the United States at a given point in .

S&P revises outlook on B'desh to negative; affirms 'BB-' long term ratings

Bangladesh's external vulnerabilities are rising, marked by sustained pressure on its foreign exchange reserves despite a material decline in the country's current account deficit

CCD's parent firm Coffee Day Global admitted for insolvency by NCLT

Based on a petition filed by IndusInd Bank, the NCLT passed an oral order on Thursday to admit the unlisted company for corporate insolvency

India skilled workers in huge demand as Germany tries to woo nurses

German Chancellor Olaf Scholz expressed the country's intention to simplify work visa rules for Indian IT workers in February to fulfil the demand for software expertise