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Economy News: Stay informed on the latest economy news with Business Standard. Get real-time insights on dynamic GDP growth, Government Policies and global market trends.
Updated: 32 min 34 sec ago
Monsoon forecast bodes well, may ease inflation concerns, says report
India's food inflation, which accounts for nearly half of the overall consumer price basket, rose 8.52 per cent in March, compared with a 8.66 per cent rise in February
Intellectual property and competition law: Two sides of the same coin
The two codes are crucial for safeguarding public interest and fostering economic growth with innovation
Business leaders urge Pak PM Shehbaz to initiate trade talks with India
Pakistan business leaders in an interactive session with Prime Minister Shehbaz Sharif urged him to initiate trade talks with India to promote business and commerce which would greatly benefit the economy of the cash-strapped country.
Posing tough questions during an hour-long meeting at the Sindh CM House here in Pakistan's commercial capital on Wednesday, Karachi's business community appreciated the prime minister's determination to tackle economic issues but advised him to focus on bringing about political stability to turn around the economy.
The Prime Minister sat down with the business community to find ways to uplift the economy through exports but his resolve was met with apprehensions from industry leaders who said it was almost impossible to do business under the current circumstances, particularly with high energy costs and inconsistent government policies, the Dawn newspaper reported.
After the prime minister's brief speech, the house was opened for a question and answer
As India develops, high food inflation will get less severe: Ashima Goyal
The problem of high food inflation will be "less severe" in India going ahead, as modern supply chains with diversified sources can help quickly address sudden spikes in prices of specific food items, RBI Monetary Policy Committee (MPC) member Ashima Goyal said on Thursday.
Stressing that the share of food in the household budget is high in India, Goyal said policy needs to focus on increasing agricultural productivity, since stable agricultural prices are important for non-inflationary growth.
"As India develops, this problem (high food inflation) will get less severe, for a number of reasons. Modern supply chains with diversified sources respond quickly to large spikes in specific items," she told PTI.
Goyal further pointed out that one does not hear of tomato or onion prices spiking in advanced economies.
"We naturally have diverse geographic regions, better integrated markets sourcing from different regions can help mitigate climate change induced food price spikes," she ...
DMRC vs DAMEPL: SC broadens scope of court intervention in arbitral awards
A perusal of the judgment in DMRC vs DAMEPL would show that the SC has interpreted the terms of the contract and that too, in its curative jurisdiction
47% of Indian women face challenges in getting credit: Tide report
The report further claimed that the 95 per cent of women said that they are unaware of existing government financial schemes or initiatives to leverage for their business
Railways working on Amrit Yard model to decongest junctions, chokepoints
Poor yard mobility can cancel out benefits of multi-tracking, rlys sets up panel
Government approves one-year extension to RBI Deputy Governor Rabi Sankar
The government has extended the term of RBI Deputy Governor T Rabi Sankar for a period of one year, according to sources.
The Appointments Committee of the Cabinet has approved the re-appointment of T Rabi Sankar, Deputy Governor Reserve Bank of India, for a period of one year with effect from May 3, 2024, they said.
He was appointed as the RBI Deputy Governor in May, 2021 for a period of three years.
He had joined the RBI in 1990 and worked in various positions at the central bank.
He was Executive Director of the Reserve Bank before being elevated to the post of deputy governor.
As an executive director, he was looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department of the RBI.
He has served as an IMF Consultant (2005-11) on developing government bond markets and debt management. In addition to his professional career at the RBI, he is the Chairman, Indian Financial Technology and Allie
REITs, InvITs mobilise Rs 1.3 trillion in past four years: RBI data
Investment vehicles for realty and infrastructure sectors -- REITs and InvITs -- have garnered Rs 1.3 lakh crore in the past four years till March-end, and are expected to facilitate more pooled funds, Reserve Bank said in a report.
Experts and stakeholders are of the view that with India growing at a fast pace, REITs and InvITs are emerging as alternative investment instruments, especially for high net-worth individuals.
"India has been a late adopter of real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). However, the market is flourishing - REITs and InvITs have mobilised Rs 1.3 lakh crore since 2019-20 (up to March 2024)," said an article on 'State of Economy' published in the RBI's April Bulletin.
March witnessed the listing of an InvIT, which raised Rs 2,500 crore through a public issue, attracting substantial interest from foreign investors.
The article noted that market regulator SEBI has progressively reduced the minimum investment size and
Unemployment biggest worry in India, world's fastest growing economy: Poll
Prime Minister Narendra Modi's BJP, widely expected to return to power for a third straight term, had promised to create more jobs when elected in 2014
Extreme weather conditions, crude pose inflation risk: RBI Bulletin
Patra says that economy must grow at 8-10% in next three decades to take advantage of demographic dividends
RBI refrains from selling dollar in February amid pressure on rupee
India's foreign exchange reserves have been hitting new peaks for the past seven consecutive weeks
Flows into NRI deposits up 84.4% to $11.8 bn in April 2023-February 2024
Outstanding NRI deposits up $2 billion in February over January
SEZ unit not required to pay IGST on specific services from DTAs: AAR
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
Outward remittances hit new high at $29 billion in April 2023-February 2024
In February 2024, the outward remittances stood at $2.01 billion, which was 23% lower than $2.62 billion in January 2024
Govt plans to boost exports of 20 'high-potential' agricultural products
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
Net FDI in India dips to $14.55 billion in April 2023-Februray 2024
In the same period last year (April 2022-February 2023), FDI inflows were at $39.61 billion, while outflows touched $12.90 billion
India's positive demand trends fuel flash composite PMI to 62.2 in April
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 risk to inflation, says RBI Bulletin
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
Onus on resuming trade ties lies with Pakistan, India must set the terms
India's negotiations must maintain a strategic approach and give concessions that meet its long-term objectives