Page 25 - India Economy
Top Headlines: Welfare schemes in poll-bound states, Q1FY24 results, more
Business Standard brings you the top headlines at this hour
 "Top Headlines: Welfare schemes in poll-bound states, Q1FY24 results, more")
Wealth on the move: Why are rich Indians heading for greener pastures?
According to government data, more than 1.6 million Indians have renounced their Indian citizenship since 2011, including a whopping 225,620 in 2022 alone, averaging around 618 per day
 "Wealth on the move: Why are rich Indians heading for greener pastures?")
Top headlines: RIL Q1 net falls 11% on weak O2C biz, GST evasion, and more
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India's rice export curbs put contracts for 2 million tonnes at risk
India's decision to ban non-basmati white rice exports will spur traders to cancel contracts to sell around 2 million metric tons of the grain, worth $1 billion, on the world market, dealers said
 "India's rice export curbs put contracts for 2 million tonnes at risk")
PM Modi holds talks with Lankan president to boost economic cooperation
Wickremesinghe arrived in Delhi on a two-day visit which is the first tour of India by a senior Sri Lankan leader since the island nation was hit by an unprecedented economic crisis last year
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LIVE: ED registers a fresh case against erstwhile promoter of Jet Airways
Catch all the latest updates from across the globe here
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Top headlines: India's economic growth forecast, tech sector layoffs & more
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ADB retains India's economic growth forecast at 6.4% for current fiscal
It forecast 3.6 per cent inflation this year for developing economies in Asia, and 3.4 per cent in 2024
India on a roll owing to landmark reforms under PM Modi: Bernstein report
India has risen from being the 10th largest economy in the world in 2014 to the fifth largest now on the back of "landmark" reforms like GST and an unprecedented infrastructure push, Bernstein said in a report on the Modi government's tenure. The brokerage in a 31-page report titled 'The decade under PM Modi - a deep-dive', hailed landmark reforms, inflation control and financial inclusion and digitisation despite inheriting "a weak economy with several institutions in distress". "Fortune strikes overnight - for some, it is by luck, and for most, it is led by years of effort. The Indian story is similar, becoming more believable even as the building blocks took over a decade to strengthen," it said. Under Modi, India has seen tremendous progress in several areas, including digitisation, formalisation of the economy, a better policy environment to attract investments for manufacturing initiatives and a step-up in infra spending. "The building blocks have been put in place, and altho
 "India on a roll owing to landmark reforms under PM Modi: Bernstein report")
India registers poverty reduction with 415 mn coming out in 15 years: UN
A total of 415 million people moved out of poverty in India within just 15 years from 2005/2006 to 2019/2021, the UN said on Tuesday, highlighting the remarkable achievement by the world's most populous nation. The latest update of the global Multidimensional Poverty Index (MPI) was released by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI) at the University of Oxford. It said that 25 countries, including India, successfully halved their global MPI values within 15 years, showing that rapid progress is attainable. These countries include Cambodia, China, Congo, Honduras, India, Indonesia, Morocco, Serbia, and Vietnam. In April, India surpassed China to become the world's most populous nation with 142.86 crore people, according to UN data. "Notably, India saw a remarkable reduction in poverty, with 415 million people exiting poverty within a span of just 15 years (2005/619/21)," the report said. The report demonstrate
As business bankruptcies surge around the world, next wave could be bigger
Large defaults add to the risk of a vicious cycle of suppliers not being paid, workers losing their jobs, banks further tightening lending criteria and then more companies going bust
 "As business bankruptcies surge around the world, next wave could be bigger")
India may be world's 2nd-largest economy by 2075, says Goldman Sachs
The report projected India's GDP at $52.5 trillion by 2075, behind China's $57 trillion but ahead of the US' $51.5 trillion
 "India may be world's 2nd-largest economy by 2075, says Goldman Sachs")
Rupee to climb after dollar's fall on weaker than expected US jobs data
Non-deliverable forwards indicate the rupee will open at around 82.60-82.62 to the U.S. dollar, compared with 82.74 in the previous session
 "Rupee to climb after dollar's fall on weaker than expected US jobs data")
UN world food price index hit almost 2 years low at 122.3 points in June
The Food and Agriculture Organization's (FAO) price index, which tracks the most globally-traded food commodities, averaged 122.3 points in June
 "UN world food price index hit almost 2 years low at 122.3 points in June")
India's El Nino silver lining: Resilience to poor rainfall improving
Agriculture's role in the economy has reduced over the decades, easing impact of 'climatic shock'
 "India's El Nino silver lining: Resilience to poor rainfall improving")
Karnataka CM Siddaramaiah set to present State Budget today at 12 noon
Chief Minister Siddaramaiah has arrived at Vidhana Soudha in Bengaluru to present the state budget
 "Karnataka CM Siddaramaiah set to present State Budget today at 12 noon")
Top Headlines: Tax credit on Council agenda, rupee internationalisation
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Rupee to extend decline as US hiring data points to more Fed rate hikes
Non-deliverable forwards indicate rupee will open at around 82.66-82.70 to the U.S. dollar compared with 82.51 in the previous session
 "Rupee to extend decline as US hiring data points to more Fed rate hikes")
Restoration of GSP benefits by US need of hour: CII EXIM committee chair
An early solution for restoration of GSP benefits by the US to Indian exporters is the need of the hour as it would help further boost the bilateral trade, Chairman of the CII national committee on EXIM Sanjay Budhia said on Wednesday. India and the US have agreed to discuss New Delhi's demand for restoration of Generalized System of Preferences (GSP) benefits to domestic exporters and now both sides will commence discussions to find a solution. The previous Trump administration in the US revoked GSP from India in 2019. GSP allows eligible developing countries to export duty-free goods to the US. Budhia said about two-thirds of the US imports under GSP are raw materials, components, or machinery and equipment used by US companies to manufacture goods in America for domestic consumption or for export. GSP also helps American consumers by eliminating duties on a variety of usually inexpensive consumer goods, he said adding these benefits are real and tangible. Both sides have mutu
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Top headlines: I-T lens on reporting entities, rupee to face headwinds
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