Patra says that economy must grow at 8-10% in next three decades to take advantage of demographic dividends

India's foreign exchange reserves have been hitting new peaks for the past seven consecutive weeks

Outstanding NRI deposits up $2 billion in February over January

AAR observed that this clarification was given to a specific SEZ unit and is not a circular but there is no bar in borrowing the rationale of the clarification

In February 2024, the outward remittances stood at $2.01 billion, which was 23% lower than $2.62 billion in January 2024

India's share is about 2.5 per cent in global exports, and the government wants to increase it to about 4-5 per cent over the next few years

In the same period last year (April 2022-February 2023), FDI inflows were at $39.61 billion, while outflows touched $12.90 billion

The index measuring the month-on-month change in the combined output of India's manufacturing and service sectors was inside growth territory for the 33rd consecutive month

Extreme weather conditions may pose a risk to inflation, along with prolonged geopolitical tensions that could keep crude oil prices volatile, the Reserve Bank's April Bulletin said on Tuesday. The retail based on the Consumer Price Index (CPI) has eased to 4.9 per cent in March after averaging 5.1 per cent in the preceding two months. The Reserve Bank, which mainly factors in CPI while arriving at its bi-monthly monetary policy, has kept the key interest rate unchanged at 6.5 per cent since February 2023, citing concerns on the inflation front. An article on 'State of the Economy' published in the Bulletin further said global growth momentum has been sustained in the first quarter of 2024, and the outlook for world trade is turning positive. Treasury yields and mortgage rates are ticking up in major economies as expectations of interest rate cuts are being pared. "In India, conditions are shaping up for an extension of a trend upshift in real GDP growth, backed by strong investme

India's negotiations must maintain a strategic approach and give concessions that meet its long-term objectives

But this year demand is above average as heat waves and election rallies boost consumption of ice-cream and soft drinks, said Avantika Saraogi, executive director at Balrampur Chini Mills

Russia currently does not feature in the top five countries that import medical devices from India

The state also plans to set up mini-industrial clusters in the rural areas for boosting economic activities and creating jobs

Sustaining the economic growth momentum of 7 per cent in 2024-25 and beyond is feasible on the back of favorable monsoon, higher farm productivity and improved global trade, RBI Monetary Policy Committee (MPC) member Shashanka Bhide said on Monday. During 2023-24, the economy is likely to record a growth rate of near 8 per cent on account of good performance of manufacturing and infrastructure sectors. "(India's economic) Growth in the current year is likely to be supported by agriculture with a favourable monsoon and improved global trade. Sustaining the growth momentum of 7 per cent seems feasible," he told PTI. Bhide further said that in the long-term, the need for productivity improvements will remain the key factor to achieve food price stability. Asked what are some of the headwinds he is wary of, Bhide said one area of concern is the global environment. "The slow pace of recovery in global demand on one hand and supply chain disruptions on the other hand... if the ongoing .

Earlier this month, the MPC kept the lending rate steady at 6.5 per cent for the seventh meeting in a row after having raised it by a total of 250 basis points between May 2022 and February 2023

Even after reduction, discounts on Russian crude oil may be contributing $1.5 to $2.5 a barrel to refiners' gross refining margins

As the climate blows cold and hot, it puts wheat, milk, coffee, and even Hilsa in peril

Exceeds estimates by 0.7% to hit Rs 19.58 trillion

India's net direct tax collections surged by a massive 17.7 per cent year-on-year to Rs 19.58 crore in the fiscal year ended March 2024, surpassing even revised estimates by a wide margin, the tax department said on Sunday. Net collections of income and corporate taxes, which make up for most of the direct taxes, in 2023-24 financial year exceeded the Budget estimates by Rs 1.35 lakh crore (7.40 per cent) and the revised estimates by Rs 13,000 crore. While gross direct tax collections (provisional) for the FY 2023-24 rose 18.48 per cent to Rs 23.37 lakh crore, net proceeds (after accounting for refunds) surged 17.7 per cent to Rs 19.58 lakh crore, reflecting buoyancy in the economy and rise in income levels of individuals and corporates. Refunds aggregating to Rs 3.79 lakh crore have been issued in FY 2023-24, the CBDT said in a statement. "The provisional figures of Direct Tax collections for the financial year (FY) 2023-24 show that net collections are at Rs 19.58 lakh crore, ...

In what suggests some robustness, nearly 67 per cent of the total new EPF subscribers belong to the 18-28 age group, a cohort mostly comprised of new entrants to the labour market