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Govt will seek an end to WTO's 1998 tariff freeze on trade of digital goods
The WTO has had a moratorium on customs duties on electronic transmissions since 1998, and members have extended the rule every two years
Sulphur-coated urea will improve fertiliser efficiency but needs efforts
Farmers will have to be educated and factories will require capital expenditure
China's consumer prices suffer steepest fall in more than 14 years
Citigroup economists said in a research note last week that they expect mild reflation in 2024, and forecast annual CPI inflation at 1.2 per cent year-on-year
India is scorning the energy bounty that helped to transform China
However, India is desperately short of domestic oilfields. Just 2.6 billion metric tonnes of its estimated 359 billion tonnes of carbon storage capacity is in petroleum reservoirs
LS passes Finance Bill, completes exercise for interim budget 2024-25
The Lok Sabha on Wednesday passed the Finance Bill, 2024, thus completing the exercise for passage of the interim budget 2024-25.
The Finance Bill, 2024, does not propose any change in the tax structure as the final budget will be tabled in July after the new government assumes office post the general elections in April-May.
Minister of State for Finance Pankaj Chaudhary said the Finance Bill, 2024, does not propose any change in tax structure.
"We have focused on development despite presenting an interim budget ahead of elections, Chaudhary said replying to a discussion on the bill.
Earlier in the day the Lok Sabha approved the Rs 47.66-lakh crore interim Budget 2024-25 of the Union Government and second batch of supplementary demands for grants.
The House also approved the Appropriation Bill authorising government to meet expenses for four months in the next financial year.
The lower house also approved the Rs 1.8 lakh crore budget of the Union Territory of Jammu and Kashmir.
North-South divide: Decoding unfair tax money devolution to southern states
The row over depriving southern states of their share picks up steam with Karnataka Congress leaders' protest
K'taka CM protests Centre's 'injustice'; 'false narrative', says Sitharaman
Communist Party of India (M) leader and Kerala CM Pinarayi Vijayan, along with his Cabinet colleagues, will protest at Jantar Mantar against the Centre's alleged negligence towards southern states
EPFO mulls reinvesting 50% of ETF redemption proceeds in equity market
The move aims to enhance its equity exposure and earn higher returns for nearly 65 million subscribers
NPCI working on Digital Payments Score to scale up credit economy in India
DPS may look at a person's finances such as timely payments and periodic bill payments
We have been lot more prudent in managing fiscal deficit: FM Sitharaman
The FM also said that retail inflation had declined from an average of 6.8 per cent in April-December 2022 to 5.5 per cent in the corresponding period of April-December 2023
Govt eyes deal with EU countries that could draw $100 billion investment
If finalized, it would mark the first time an investment commitment of this nature is secured by India as part of a free trade agreement
We hope frictionless credit scale up to digital infrastructure: P Vasudevan
In the future, he noted that the central bank aims to include both banks and non-banks gradually into the platform for their loan journey
Merchandise exports set to moderate to $435 billion in FY24: Exim Bank
India's merchandise exports are likely to moderate to USD 435.3 billion in FY24 against 447.46 billion in FY23, the Exim Bank said on Wednesday.
The merchandise exports are set to grow by nearly 3 per cent to USD 118.2 billion in the March quarter compared to the same period a year ago.
It can be noted that the merchandise exports declined for the first two quarters of the ongoing 2023-24.
In its quarterly study on the overall exports, the policy bank said the non-oil exports will grow 4.55 per cent to USD 95 billion in the January-March 2024 quarter.
"Positive growth in India's exports could be as a result of India's strong GDP growth fundamentals and outlook and expected global easing of monetary tightening spurring global demand," the bank said in the report.
The oil exports are likely to remain subdued during the year, contracting by USD 12.5 billion compared to FY23, the bank said.
The outlook is subject to risks of uncertain prospects for advanced economies, geopolitical sh
Oil prices rise on lower-than-expected surge in US crude stockpiles
Brent crude futures rose 56 cents to $79.15 a barrel as of 1159 GMT, while U.S. West Texas Intermediate crude climbed 59 cents to $73.90
India exported 0.78 MT coal to neighbouring countries in Apr-Nov: Govt
India's coal export to neighbouring countries was 0.78 Million Tonnes (MT) in the April-November period of the ongoing fiscal, Parliament was informed on Thursday.
Among the neighbouring countries, India exports coal to Nepal, Bangladesh, and Bhutan.
Replying to a question in Lok Sabha, Coal Minister Pralhad Joshi said, "Coal export by the country during the last three years... is 2.945 MT in 2020-21, 1.316 MT in 2021-22, 1.166 MT in 2022-23 and 0.78 MT in 2023-24 (up to November)."
Most of the coal produced in the country is consumed domestically. The major coal consuming sectors in the country are power, steel, cement, sponge-iron, and fertiliser.
As the primary source of commercial energy in India, coal accounts for half of our energy consumption and remains the dominant fuel for power generation due to its reliability compared to other renewable energy sources.
Unplanned green transition hurts smaller nations: Qatar, Guyana ministers
Says renewables won't produce petrochemicals, need focus on oil demand reduction
Govt bond yields settle lower ahead of RBI's policy outcome
The overall market sentiment has remained positive after the government said it aims to reduce the fiscal deficit and lower its gross borrowing by a wide margin next financial year
Andhra Pradesh govt tables interim budget of Rs 2.86 trillion for FY25
In terms of percentage, revenue deficit amounted to 2.19 percent of the GSDP while the fiscal deficit was 4.18 percent
WTO MC13: India to oppose any negotiation mandate on non-trade issues
The 13th Ministerial Conference (MC) will be held from February 26-29 at Abu Dhabi, United Arab Emirates (UAE)
India to overtake China as biggest driver of global oil demand in 2027: IEA
India will overtake China as the biggest driver of global oil demand in 2027 as transportation and industry consumption in the world's fastest-growing major economy will drive growth despite a big push for clean energy and electrification, the International Energy Agency said on Wednesday.
The Paris-based agency in a special Indian Oil Market Outlook to 2030 report released at the India Energy Week here, said the country's oil demand will rise from 5.48 million barrels per day in 2023 to 6.64 million bpd in 2030.
China currently is the biggest driver of oil demand and India ranks No.2 in growth.
The numbers given by IEA in the report seem to talk of crude oil processed into fuel for domestic as well as for exports. The domestic consumption as per the oil ministry data is around 5 million barrels per day (bpd).
"India's oil demand will grow at a rapid pace by 2030 despite accelerated green energy moves," IEA director of energy markets and security Keisuke Sadamori said. "Growth in .