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April-Dec fiscal deficit at Rs 9.82 trn, 55% of annual target: Govt

Wed, 01/31/2024 - 06:26
Total expenditure during the period was 30.54 trillion rupees, or about 68% of the annual goal, compared with 28.18 trillion rupees in the same period last year

India, Iran discuss development of cooperation between two countries

Wed, 01/31/2024 - 01:50
Both South Asia and the Persian Gulf have strong commercial, energy, cultural and people-to-people links, the MEA said

Govt appoints 3 full-time, 1 part-time member of 16th Finance Commission

Wed, 01/31/2024 - 00:45
The Finance Commission is a constitutionally mandated body established once every 5 yrs to devise a formula for distributing net tax proceeds between the Centre and the states

Centre releases advisories, surveys to boost female workforce participation

Wed, 01/31/2024 - 00:35
Key recommendations from the central government's advisories include promoting women in leadership and management roles, crafting gender-neutral job advertisements, among others

Odisha govt's anti-tribal schemes only to woo adivasis ahead of polls: BJP

Tue, 01/30/2024 - 22:39
Terming the ruling BJD in Odisha as anti-tribal, opposition BJP alleged that the state government rolled out special packages for tribals only to woo them ahead of the Lok Sabha polls and the assembly elections. The BJD's programmes for adivasis are a poll gimmick to mislead the one-crore tribal population in the state, Opposition chief whip Mohan Charan Majhi told reporters here on Tuesday. They were actually planning to grab tribal land for corporate houses by amending the Odisha Scheduled Areas Transfer of Immovable Property (by Scheduled Tribes) Regulation. However, the government failed in its bid in the wake of strong protests from different quarters, Majhi claimed. The Odisha Cabinet on Monday withdrew its earlier decision on tribal land transfer to non-tribals. The BJP leader also mocked the cabinet's approval of a new scheme Laghu Bana Jatiya Drabya Kraya (LABHA) to assure minimum support prices for minor forest produces. With the elections approaching, the state govern

China's factory activity shrinks again in January, demand still weak

Tue, 01/30/2024 - 21:54
The composite PMI, which includes manufacturing and services, was at a four-month high of 50.9 in January compared with 50.3 the previous month

IMF sees heightening prospects for soft landing in Asian economies

Tue, 01/30/2024 - 21:38
With inflationary pressures "receding rapidly," prospects for a soft landing were improving in Asia, he said

World on cusp of last big refining boom as India starts capacity expansion

Tue, 01/30/2024 - 21:15
Expansions in the West are non-existent," said Giovanni Serio, Vitol Group's head of research

Govt appoints members for new finance panel to recommend on federal taxes

Tue, 01/30/2024 - 20:22
The panel will submit its report by Oct. 31, 2025 covering a period of five years commencing on April 1, 2026

Conflict in West Asia remains growing risk for energy markets: J P Morgan

Tue, 01/30/2024 - 10:56
Recent attacks on vessels in the Red Sea by Iranian-backed Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia

Six Indian markets offer counterfeit products, shows US report

Tue, 01/30/2024 - 10:23
For instance, Heera Panna market reportedly offers counterfeit watches, footwear, accessories, and cosmetics that may have health and safety risks

IMF raises India's GDP growth projection for FY25 by 20 bps to 6.5%

Tue, 01/30/2024 - 10:09
Reserve Bank of India Governor Shaktikanta Das in a speech delivered at Davos in the World Economic Forum earlier this month said he expects the GDP growth in India to touch 7 per cent in FY25

Priority sector credit target to be Rs 3.97 trn for K'taka in FY25: Nabard

Tue, 01/30/2024 - 08:49
NABARD has estimated a credit potential of Rs 3.97 lakh crore for priority sector lending in Karnataka during 2024-25, its Chief General Manager (CGM) T Ramesh said here on Tuesday. Speaking during the State Credit Seminar for Karnataka at their Regional Office, the NABARD CGM said the estimated credit potential is 10.67 per cent higher than the previous years' credit projection. Of the total, the share of agriculture sector including agri-infrastructure and ancillary activities is Rs.1.85 lakh crore (46 per cent), MSME sector is Rs.1.58 lakh crore (40 per cent) and other priority sector activities is Rs.0.54 lakh crore (14 per cent), a statement issued by NABARD quoted him as saying. In the wake of severe drought situation, NABARD has been complementing the efforts of State government by extending financial support to the tune of Rs 990 crore for 119 irrigation projects and Rs 611 crore for drinking water projects under Rural Infrastructure Development Fund and has sanctioned Rs 29

New NPS partial withdrawal: Everything you need to know about pension rule

Tue, 01/30/2024 - 06:08
The Pension Fund Regulatory and Development Authority permits subscribers to make partial withdrawals from their saved pension money in the National Pension System for specific purposes

China threat an opportunity for India-US ties, strong FTA: Congressman Issa

Tue, 01/30/2024 - 05:49
The "threat" posed by China offers an opportunity for the US and India to make strong agreements, including a genuine Free Trade Agreement (FTA) to ensure that the two countries will look at each other as first partners, according to Darrell Issa, an influential American lawmaker. Issa, a Republican Congressman from California, said this during a conversation with Aparna Pande, Research Fellow, India, and South Asia with the think tank Hudson Institute here on Monday. Agreeing that the India-US relationship today does seem to be based in no small part on the China threat, he said, Having said that, I view this China threat as an opportunity to do with that we did not do. The items produced in China could be produced in India, at substantially similar costs (and) would more than allow for India to substantially replace its dirty fuel with clean fuel, Issa said. But that requires that the two countries really make strong agreements, including a genuine Free Trade Agreement (FTA), one

Customs to ease export norms for certain dual-use goods, says DGFT

Tue, 01/30/2024 - 05:40
The government is working to liberalise export norms for certain products which have dual-use like chemicals for companies that have proven track record, a senior official said on Tuesday. Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that dual-use goods and technologies are sensitive and if it goes in the wrong hands of non-state actors, it can cause serious disruptions globally. A small group of rebels in Yemen have disrupted the global trade as they are attacking foreign commercial ships with drones and missiles. "We are working with the industry, with the ministry of external affairs, and with the customs to ensure that a whole lot of sectors are liberalised for those companies which have proven track record of responsible use and responsible exports," Sranagi said here at the 'National Conference on Strategic Trade Controls'. It was organised by the DGFT and the external affairs ministry here. Dual use implies the usage of these goods and technologies in

New Trai chief A K Lahoti has work cut out as issues pile up with regulator

Tue, 01/30/2024 - 05:06
A former Railways board CEO, he is an unconventional choice to lead the regulator

Steel imports hit five-year high in April-December amid soaring demand

Tue, 01/30/2024 - 05:02
India's steel demand is likely to stay strong as the government expects economic growth will outpace the global economy in the next fiscal year

Govt seeks investment commitment from Switzerland under EFTA pact: Report

Tue, 01/30/2024 - 04:11
India has sought investment commitments from Switzerland under the proposed free trade agreement with the four-nation EFTA bloc, a top government official said on Tuesday. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The official also said negotiations for the pact are at an advanced stage and both sides are trying to conclude it fast. The investment commitment would help India balance Switzerland's decision to remove customs duties on most of its goods. When asked if this move would have an implication on the agreement, the official said that it can be bargained against many other things. "We have told them that we will be requiring commitments on investments so that this zero duty on goods can balance more investments and more manufacturing in the country," the official told PTI. The Indian negotiators are also trying to see how the Swiss companies can come and manufacture in India so that it gives a boost to Make in In

India's capex budget: Experts call for multiyear, data-driven plans

Tue, 01/30/2024 - 02:27
A beginning has already been made with detailed planning for the Indian Railways

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