Page 71 - Indian Economy

Windfall for govt as RBI transfers record Rs 2.1 trillion for FY24

Higher income both from domestic and foreign assets; Increases contingency buffer to 6.5%

Financialisation of household savings can fund private capex: Goldman Sachs

The report titled 'Changing Contours of Indian Household Savings' notes that within financial savings, allocations are shifting from banks to non-banks, especially into retirement savings

Net FDI declines by 62% to $10.5 billion in FY24, shows RBI data

Lowest in over a decade; Gross FDI stable at $71 bn

Why is India a developing, not developed nation? Amitabh Kant answers

Former Chief Executive of NITI Aayog Amitabh Kant's comments coincide with a recent forecast by global brokerage Jefferies that predicted India's GDP to hit $5 trillion in the next four years

Inflation seen closer to target in FY26: RBI's state of the economy report

RBI has projected consumer price index (CPI) inflation of 4.5 per cent in FY25, with Q1 at 4.9 per cent; Q2 at 3.8 per cent; Q3 at 4.6 per cent; and Q4 at 4.5 per cent

Outward remittances under LRS hit new high of $31.73 bn: RBI data

The remittances have seen a continuous increase in the last 10 years owing to improved per capita income in the country

Good food journey: How India can build on gains from the year of millets

Year of millets over, we need to dedicate a decade to these grains to build on the gains of 2023

A better way to fix MGNREGS

The problems of the rural job scheme should be tackled through stricter monitoring, not by burden-sharing

Ratings and reforms

Fiscal position should be improved with sustained growth

India on cusp of long-awaited economic take-off: RBI monthly bulletin

India is on the cusp of long-awaited take-off on the back of rising aggregate demand, and non-food spending in rural economy, according to the Reserve Bank of India May Bulletin released on Tuesday. The outlook for the global economy is turning fragile as the descent of inflation is stalling, re-igniting risks to global financial stability, said an article on 'State of the Economy' published in the Bulletin. Capital flows have become volatile as nervous investors turn risk averse, it added. The article is prepared by a team led by Reserve Bank Deputy Governor Michael Debabrata Patra. The article further said "there is a growing optimism that India is on the cusp of a long-awaited economic take-off" as recent indicators are pointing to a quickening of the momentum of aggregate demand. It notes that for the first time in at least two years, rural demand for fast moving consumer goods (FMCG) has outpaced urban markets -- in the quarter just gone by. FMCG volume growth of 6.5 per cen

Tweaking the inflation targeting mandate

A key focus for the new govt should be to ensure wider consultation in setting inflation target

Retirement fund body EPFO adds 1.44 million net members in March 2024

Retirement fund body EPFO has recorded a net addition of 14.41 lakh members in March this year, according to the latest payroll data released on Monday. The payroll data highlighted that approximately 11.80 lakh members exited and subsequently rejoined the EPFO (Employees' Provident Fund Organisation), a labour ministry statement said. According to the statement, these members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, safeguarding long-term financial well-being and extending their social security protection. The EPFO's provisional payroll data released on Monday also showed that the body has added 14.41 lakh net members in March 2024, the ministry stated. The data indicates that around 7.47 lakh new members have been enrolled during March 2024. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 56.83 pe

Statsguru: Several challenges remain for India-Iran Chabahar port deal

Iran has fewer maritime trade partners compared to India

Share of women in urban salaried jobs at 6-year low in Q4FY24: PLFS

The share of women in wage work was the highest in Q1 of FY21 at 61.2 per cent

Economy: From Modi 1.5 to Modi 3.0

Remember, "development" is not the only thing the Bharatiya Janata Party (BJP) had promised

Commerce ministry holds discussions on formulating SOPs to negotiate FTAs

The commerce ministry has held detailed discussions with senior officials of different departments and trade experts on formulating standard operating procedures (SOP) for negotiating free trade agreements (FTAs), an official said. To discuss the various aspects of these agreements, the commerce ministry has organised a two-day 'Chintan Shivir' on FTA strategy and SOPs for trade negotiations on May 16-17. Suggestions that came up during the discussions included comprehensive consultations with public and private sector players and sharing details of the proposed FTAs with the line ministries, the official said. "Consultations should be held at every stage of FTA negotiations. Representatives of certain ministries suggested the commerce ministry to share FTA details with them in a timely manner so that they can prepare their views on those agreements," the official added. The exercise assumes significance as India is engaging with several trade partners to negotiate free trade ...

Mutual funds likely to get nod to invest in ETFs with India presence

India exposure in such global ETFs could be capped at 20%

UN revises India's GDP growth forecast by 70 basis points to 6.9%

The UN body also noted that surging demand for critical minerals presented new opportunities for developing economies but pointed to a need for innovation and policy and institutional reforms

India could be the third largest economy by 2026-27, says Arvind Panagariya

Panagariya stressed that in order to achieve this, it was important to reform labour laws and for markets to release capital to more labour-intensive industries

Chabahar Port deal 'landmark' for economic ties with India: Iranian envoy

The signing of the Chabahar Port deal is a 'landmark' in India-Iran economic relations and it offers various future investment opportunities, including the development of subsequent phases of the facility, a top Iranian diplomat said in a note. These opportunities include development of the second phase of Shahid Beheshti Port as well as the third and fourth phases on BOT model, among others, Davoud Rezaei Eskandari, Acting Consul General of Iran in Mumbai, said in the note shared with PTI. India on May 13 signed a 10-year contract to operate the strategic Iranian port of Chabahar that will help it expand trade with Central Asia. The Chabahar Port on the Gulf of Oman - which New Delhi had proposed to develop way back in 2003 - will provide Indian goods a gateway to reach landlocked Afghanistan and Central Asia using a road and rail project called International North-South Transport Corridor, bypassing Pakistan. The long-term agreement was signed by Indian Ports Global Limited (IP