Besides, the panel is also slated to examine schemes prepared by the central and state governments for the construction of the price indices

Rice exports have also been constrained by export controls on certain varieties of the grain including non-basmati rice imposed by India

Commerce and Industry Minister Piyush Goyal is expected to attend the BRICS trade ministers' meeting in Moscow on July 26, an official said on Friday. BRICS members are Brazil, Russia, India, China, and South Africa. It is a grouping of major emerging economies of the world, comprising over 40 per cent of the world population and accounting over 16 per cent in the global trade. During Prime Minister Narendra Modi's Russia visit on July 8-9, India and Russia have set an ambitious bilateral trade target of USD 100 billion by 2030. India is focussing on various sectors like electronics, besides taking up issues of non-trade barriers removal, to boost exports to sanction-hit Russia and move towards achieving this target. At present, the bilateral trade stands at about USD 67 billion. The country is looking at various sets of commodities such as electronics, and engineering to increase exports to Russia. Indian marine and pharma exporters face issues in Russia, which New Delhi is loo

Competitive federalism can install accelerators in key sectors

After witnessing a 3 per cent contraction in the financial year 2023-24, outbound shipments from India saw positive growth in the three consecutive months

India's forex reserves jumped by USD 9.699 billion to an all-time high of USD 666.854 billion for the week ended July 12, the RBI said on Friday. In the previous reporting week, the kitty had increased by USD 5.158 billion to USD 657.155 billion, surpassing the previous high of USD 655.817 billion for the week ended June 7. For the week ended July 12, foreign currency assets, a major component of the reserves, increased by USD 8.361 billion to USD 585.47 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by USD 1.231 billion to USD 58.663 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 76 million to USD 18.111 billion, the apex bank said. India's reserve position with the IMF was up by USD 32 million to USD 4.609 billion in the reportin

Overall Indian financial sector remained insulated from the global outage

The majority of firms continue to expect the prospects of employment in the next six months of both skilled and unskilled or casual and permanent workers to remain the same as in the past three months

With the changes, the funds can now enjoy exemption from tax on dividend income, interest income, or long-term capital gains tax arising from investments made in India

Reserve Bank Governor Shaktikanta Das on Friday said the monetary policy has to be "clearly and unambiguously" focused on inflation in an environment like the current one, where growth is steady. Amid a debate around neutral rates, Das said "theoretical and abstract concepts" as arrived at are based on a person's judgment and cannot determine the policy in the real world. It can be noted that the RBI has been steadfastly maintaining the status quo on interest rates, and there is increasing dissent among some members of the rate-setting panel who are in favour of rate cuts to promote economic growth lately. Replying to those who flag the impact on growth because of the elevated interest rates, Das said that the growth has been robust even with the current interest rates and added that RBI is optimistic that its 7.2 per cent real GDP expansion estimate for FY25 is being achieved. Moreover, the nowcast team is pointing towards a 7.4 per cent growth in the June quarter as against the .

The Budget is an opportunity for the government to create an agricultural sector that will ensure food security and economic prosperity for the nation

Apart from climate transition, India's forays into electronics and infrastructure-related manufacturing are gaining prominence with investors abroad, an expert said

The jobs crisis in the most-populous nation has assumed alarming proportions. Young graduates are nine times more likely to be unemployed than those who can't read or write

The report, however, said the views expressed in the bulletin article are of the authors and do not represent the views of the RBI

The report said to enhance global competitiveness of exporters and offset the cost disabilities, govt should introduce a special credit package with fiscal incentives for the e-commerce export sector

Expresses desire to share expertise, seeds and technology to make India's National Oil Palm Mission a success

"With headline GDP growth rates trending higher after the pandemic, a step up in the natural rate estimates appears appropriate," said Aditi Nayar, chief economist, ICRA

In May alone, inflows into the various NRI schemes stood at $1.7 billion compared to $1.07 billion in April

Remittances under the scheme stood at $2.42 billion in May 2024

Move towards 4% target should provide signal for monetary policy to respond