Page 65 - Indian Economy

India's employment provisionally grew at 6% in FY24, shows RBI data

The release of the data follows a Citibank report last week which said growth of close to 7 per cent will only create 8 million to 9 million jobs in India, short of the 11 million to 12 million needed

Bigger, bolder labels: Companies look to put it back on FSSAI table

Industry executives say the transition to new nutritional labelling may have cost implications for companies as they usually have packaging stock for the next few months

RBI's draft trade norms envisage more discretion for ADs

ADs will handle the documents of a 'caution listed' exporter only against full advance payment from the buyer or irrevocable letter of credit

Information asymmetry

GST data must be released

India plans geological mapping and mineral exploration in Zambia

India seeks to access African nation's critical minerals to diversify its supply chain and strengthen bilateral ties

FMCG manufacturers say Q1 sales growth picks up as demand improves

Volume trends from key consumer goods companies, which sell everything from hair and cooking oils to oats, are seen as an important indicator of consumption patterns in the country

Only 7% of MSME credit to women; low female labour force limits growth: RBI

Reserve Bank's executive director Neeraj Nigam on Friday said low labour force participation among women is a barrier to financial inclusion efforts and also to broader economic growth. He said there is also a need to up the credit supply to women, pointing out that only 7 per cent of the overall outstanding loans to micro, small and medium enterprises are to women-led businesses. "One significant barrier for financial inclusion and indeed to economic growth and development is more participation of females in economic activities," he said, pointing out that official data suggested female labour force participation at 32.8 per cent in FY22, as against over 77 per cent in men. Women constitute only 7 per cent of the outstanding credit to Micro, Small & Medium Enterprises (MSMEs), he said, adding that this is very low when compared to nearly a fifth of the MSMEs being women-led. Speaking at the 'Financing Women Collaborative' conference organized by Niti Aayog and Transunion Cibil ...

RBI launches quarterly survey on order books of manufacturing sector

The Reserve Bank of India (RBI) on Friday announced the launch of quarterly "order books, inventories and capacity utilisation" survey of companies in the manufacturing sector -- a key input it uses to formulate the monetary policy. The RBI has been conducting the order books, inventories and capacity utilisation survey (OBICUS) of the manufacturing sector on a quarterly basis since 2008. The information collected in the survey includes quantitative data on new orders received during the reference quarter (April-June 2024), backlog of orders at the beginning of the quarter, pending orders at the end of the quarter, total inventories with a breakup between ?nished goods, work-in-progress and raw material inventories at the end of the quarter. Item-wise production in terms of quantity and value during the quarter vis--vis the installed capacity from the targeted group and the reasons for changes in production/installed capacity during the quarter is also collected. The level of capac

India must use its cultural wealth to be global economic power

Cultural economic governance assumes great importance at the stage of policy formulation and its implementation

Data dynamics

The advisory committee has its task cut out

Budget 2024 wish list: RBI to hear demands of MSMEs on Monday

Central bank wants to understand initiatives that may be viable for the sector

RBI bumper payout to curb major divestments, govt keeps Rs 50k cr target

The record Rs 2.1 lakh crore dividend payout by the Reserve Bank of India will limit the need for big-ticket divestment, a domestic rating agency said on Thursday. Care Ratings said the new government will retain the interim budget's Rs 50,000 crore target on receipts from divestments. "With a bumper dividend from the RBI, the central government's fiscal position remains comfortable, which may limit the urgency to push ahead with big-ticket divestments," it said. If there is a shortfall in the resource accretion, the government will prefer asset monetisation, it added. Shipping Corporation of India (SCI) sales expected to be completed during the year will make it easy sailing for the government on the FY25 target, the agency said. "After the demerger of land assets of the Shipping Corporation of India (SCI), its possible divestment looks likely in FY25, provided favourable market conditions prevail. If the government offloads its entire stake in SCI, it could generate Rs 12,500-22

Tata Hitachi's success harvest from field to factory in West Bengal

Ratan Tata, then Tata Group chairman, had flown in along with the brass to make the announcement. The Nano found its home at Singur in the Hooghly district

Renewables financier Ireda's high valuation may limit further stock upside

Ireda, which provides funding assistance and other services to renewable energy and energy efficiency/conservation projects and is 75 per cent owned by the government of India

India initiates anti-dumping probe into import of Chinese lift guide rails

India has initiated an anti-dumping probe into the import of Chinese lift guide rails following a complaint by a domestic player. The duty is aimed at protecting the domestic industry from cheap imports. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping of 'T-Shaped Elevator/Lift Guide Rails and Counterweight Guide Rails' from China. Savera India Riding Systems Company has filed an application for the initiation of an anti-dumping investigation on the imports of this product from China. The applicant has alleged that material injury is being caused to the domestic industry due to the alleged dumped imports and has requested for the imposition of anti-dumping duties. "On the basis of the duly substantiated written application submitted by the domestic industry and having reached satisfaction based on the prima facie evidence submitted by the industry concerning the dumping of the product...the Authority, hereby, ..

India pitches for strengthening quality standards for spices at global meet

India has supported strengthening quality standards for various spices, including small cardamom, vanilla and turmeric, at a global meet of the Codex Alimentarius Commission being held in Rome, the government said on Wednesday. According to an official statement, India, as a member elected on a geographic basis (Asia), is participating in the 86th session of the Executive Committee (CCEXEC) of the Codex Alimentarius Commission (CAC). G Kamala Vardhana Rao, CEO of the Food Safety and Standards Authority of India (FSSAI), represented India in the session being held at the Food and Agriculture Organization (FAO) headquarters in Rome from July 1-5. The CAC, an international body established by FAO and the World Health Organization (WHO), aims to protect consumer health and promote fair practices in food trade. The executive committee plays a critical role in reviewing proposals for new work and monitoring the progress of standards development. "During the session, India strongly suppor

GST revenues: The fate of the compensation cess amid Centre-state row

There's no reason for the cess to be retained in its current form. That's because the cess rates themselves are monstrously complicated, varying not only in magnitude but also according to end-use

GST's revenue performance: Centre's sacrifice for cooperative federalism

Over the past few years, most commentators have rightly emphasised the tensions in Centre-state fiscal relations, pointing especially to the Centre's repeated recourse to non-sharable cesses

New base years for national accounts, macro indicators from Jan-Feb 2026

A base year is the reference year whose prices are used to calculate the real growth (minus inflation) in national income

India takes first steps to meet 2070 net-zero goal, Niti Aayog forms panels

Six working groups created to identify issues, develop pathways, and suggest policy action on various aspects of climate change