Page 217 - Indian Economy

Sharp rise in valuables purchase pushed up India's GDP growth in Q2

In absolute terms, purchase of valuables was just Rs 17,012 crore during the Q1, FY22

RBI likely to hike reverse repo by 20 bps despite uncertainty on Omicron

If Omicron becomes a major issue, risks to India's inflation will likely rise further

India's Apr-Nov agricultural, processed food exports up 13% y-o-y

Indias exports of agricultural and processed food products rose by more than 13 per cent during the first eight months of the current fiscal on a year-on-year basis

Indian economy fastest in world to come out of Covid pandemic impact: Shah

On the new coronavirus variant Omicron, he said that the government is keeping a close watch on related developments

MPC meet: RBI to remain cautious at next policy meeting, says expert

In case of the real growth trajectory, the trend GDP after the Covid shock continues to remain flat.

Forex reserves down by $2.713 million to $637.687 billion

The country's foreign exchange reserves declined by USD 2.713 billion to USD 637.687 billion in the week to November 26, RBI data showed. In the previous week ended November 19, the reserves had increased by USD 289 million to USD 640.401 billion. It touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021. In the reporting week ended November 26, the dip in the foreign exchange reserves was on account of a decline in foreign currency assets (FCA), a major component of the overall reserves and gold reserves, Reserve Bank of India's (RBI) weekly data released on Friday showed. FCA dropped by USD 1.048 billion to USD 574.664 billion in the reporting week, the data showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves were down by USD 1.566 billion to USD 38.825 billion in the reporting week, the data .

PMI: Services activity expands in November but records slight dip

Ahead of MPC meet, data shows input price pressures rise

Govt seeks Parliament's approval to spend Rs 3.74 trillion more

The government needs Rs 49,805.25 for food storage schemes and warehousing

Here's how India's gig economy and its $5-trn goal by 2025 are connected

By upgrading or augmenting skills, equipping modern tools for better efficiency, people at gig jobs can earn more, some becoming even micro-entrepreneurs

Govt seeks Parliament nod for Rs 3.73 trn additional spending this fiscal

The government on Friday sought Parliament's nod for gross additional spending of over Rs 3.73 lakh crore in the current financial year. As per the second batch of supplementary demands for grants tabled in Lok Sabha by Minister of State for Finance Pankaj Chaudhary, the net cash outgo would be over Rs 2.99 lakh crore and Rs 74,517 crore extra expenditure would be matched by savings by different ministries. The amount includes extra spending of Rs 58,430 crore towards fertiliser subsidy, over Rs 2,000 crore towards various schemes of Department of Commerce and over Rs 53,000 crore by Department of Expenditure under various export promotion schemes.

Govt seeks Parliament's nod for additional Rs 2.99 trn spending in FY22

The Indian government sought parliamentary approval for net additional spending of 2.99 trillion rupees ($39.87 billion) in the current financial year ending in March 2022.

The vital third tier

Local governments must be strengthened

Bonds from India, Philippines most at risk amid threat from Omicron

Bonds from India and the Philippines look to be most vulnerable to further economic slowdowns in Asia as the threat from a new coronavirus variant revives virus resurgence fears.

Best of BS Opinion: The succession question, growth spending & more

Here is the best of Business Standard's opinion pieces for Thursday

At Rs 1.31 trn, India's Nov GST collection second-highest in a month yet

The finance ministry said the April figures were linked to year-end revenues

Benchmark indices roar back as risk appetite improves globally

Strong GDP growth, PMI manufacturing, GST collection data, and oversold market spur activity

States improve fiscal position, but local bodies still suffer: RBI report

Covid worsened finances of local govts in 2020-21 and 2021-22; local authorities would lose 15-25% of their revenues in 2021, which may make maintenance of current level of service delivery difficult

India's GDP likely to grow more than 9.5% in FY22: SBI research report

The country's gross domestic product (GDP) is likely to grow more than 9.5 per cent in fiscal 2021-22, an SBI research report-Ecowrap said.

India's merchandise exports rise 26% in Nov; trade deficit at record $23 bn

Imports in November were at $53.15 bn, an increase of 57.18% over $33.81 bn

LIVE: At least 23 countries have reported cases of Omicron, says WHO chief

Several WHO advisory groups have met over the last couple of days to evaluate the emerging evidence, says Tedros Adhanom