Page 165 - Indian Economy

MPC rate hikes likely to continue till CPI inflation recedes below 6%

Another rate hike predicted for September 2022, even if the quantum is as small as 10 bps

India should gradually withdraw fiscal, monetary stimulus, says IMF

In its latest External Sector Report, IMF said India should further liberalise its investment regime accompanying it with reduction in tariffs, especially on intermediate goods

India's FY23 fiscal deficit may come around 6.5%, says SBI Ecowrap

The report has also revised current account deficit estimates from 3.2% of GDP to 3.7% of GDP in the current financial year

CII asks govt to bring in millennial bonds to boost forex reserves

Sanjiv Bajaj asked the govern­ment to put more money in the pockets of the consumers by redu­cing personal income tax rates to revive consumption demand in the economy

MGNREGA work demand dips in July on heavy monsoon rains, sowing progress

In June, India received almost 8 per cent below-normal rains. This jumped to 17 per cent above normal in July

Why using CPI for REER calculation has been self-destructive for India

Given its stage and uncompetitive infrastructure, India's approach has been largely naïve or self-destructive

Slowdown bites industry in Haryana; demand down 80%, 95k lose jobs: Report

From Rohtak to Bahadurgarh and Sonipat to Panipat, production at industrial units badly hit, says a media report

Milk output down 50,000 litres a day as lumpy skin disease batters Gujarat

Inoculation drive in full swing as over a million cattle get vaccinated

Amid robust tax growth, customs and excise duties decline over 10% in Q1

Receipts from customs and excise duties were down 10.59 per cent at Rs 97,695 crore in Q1 of FY'23

July PMI services growth slips to 4-month low on rising inflation

The PMI decreased to 55.5 in July 2022 from 59.2 in June

GST e-invoicing must for entities with Rs 10 cr turnover from Oct 1

Presently, the process is mandatory for businesses with an annual turnover of Rs 20 cr and above

India's July trade deficit widens to record $31 bn; exports dip marginally

Gold imports declined 43.6% to $2.4 bn after the Centre raised import duty on gold last month to discourage buyers in the world's second-largest consumer

FM defends handling of inflation, says GST regime hasn't raised tax burden

In Rajya Sabha, Sitharaman said GST tax on food items such as rice, wheat flour and curd was agreed to by all states and that such a levy pre-existed on one or the other daily essentials in 22 states

India's July trade deficit widens to $31 bn on costly imports, weak rupee

July's data comes after the Centre raised import duty on gold last month to discourage buyers in the world's second-largest consumer and rein in the yawning trade deficit

Bangladesh economy outshone India, now it must learn from its neighbour

Bangladesh's per capita national income is now higher than that of India next door

Top Headlines: Debate on RBI rate hike, Zomato biz structure change & more

Zomato is on an internal rebranding exercise by moving to a multiple chief executive structure for its businesses that will be housed under a larger organisation called Eternal

UPI records 6 billion transactions in July, highest ever since 2016

UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch

India's manufacturing activity expands at quickest pace in 8 months

Job creation is subdued though companies step up purchasing and report solid manufacturing activity

10-year bond yield eases to nearly three-month low, rupee gains

Softening of crude oil prices reduces upside risks to India's inflation, given that the country is among the biggest importers of the commodity

GST collection jumps 28% YoY in July to second highest ever at Rs 1.49 trn

Collection remains above Rs 1.4 trn for fifth straight month