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Updated: 34 min 47 sec ago
India's electronics exports increase 23.6% to $29.12 billion in FY24
According to commerce department officials, the top five export market of electronics good are - the US, United Arab Emirates, Netherland, United Kingdom, and Italy
Smartphone makers pin hopes on new launches after tepid March quarter
Slowdown in the decline of 2G subscribers hurting smart phone sales
Govt raises windfall tax on petroleum crude to Rs 9,600 per MT from Apr 16
The tax, which is revised every fortnight, will remain unchanged at zero for diesel and aviation turbine fuel
Govt collects Rs 27k cr in taxes from sr citizens on FD interest: SBI
According to the report by SBI researchers, the total amount of deposits has risen by 143 per cent in the last five years to Rs 34 lakh crore at the end of FY24 from Rs 14 lakh crore
India may remain poor even after becoming 3rd largest economy: Ex-RBI chief
Even after becoming the third largest economy in the world by 2029 as envisaged by Prime Minister Narendra Modi, India may still be a poor country and therefore there is no reason for celebration, former Reserve Bank Governor D Subbarao said here on Monday.
Addressing a gathering at a book launch programme, Subbarao also said, citing Saudi Arabia, that becoming a rich country does not necessarily mean becoming a developed nation.
Recalling PM Modi saying that if he returns to office, India will become the third-largest economy before 2029 -- before the end of his third term, he said many economists predict that the country would become the third largest after the US and China, much sooner.
In my view, that is possible (India becoming the third-largest economy), but it's not a celebration. Why? We are a large economy because we are 1.40 billion people. And people are a factor of production. So we are a large economy because we have people. But we are still a poor country, Subbarao ..
Rupee settles at record closing low amidst escalating tensions in West Asia
However, Indian rupee on Monday performed better than the majority of the Asian currencies
India's exports shrink 3% in FY24 but tide is turning, says govt
India's trade deficit at 11-month low in March
UCB advances to priority sector up over 27% in FY23, shows RBI data
A majority of the advances of UCBs was given to MSMEs (micro, small & medium enterprises), amounting to Rs 1.3 trillion in FY23 against Rs 1 trillion in FY22
Wholesale price inflation rises to three-month high of 0.53% in March
The overall FY24 wholesale headline inflation stood at -0.7 per cent as compared to 9.6 per cent in FY23
Some states saw higher inflation than national average, shows data
Some had higher inflation every month of the year
Engineering exports edge up to $109 bn despite geo-political tensions
India's engineering exports edged up to USD 109 billion in 2023-24 despite a slowdown in some of the major global markets amid geo-political tensions, EEPC said on Monday.
India's engineering exports are competitive globally and expected to gain further market share in the coming years, with the country entering into more FTAs, it added.
The apex body of engineering goods exporters expects the value of shipments from the sector to rise to USD 300 billion by 2030 and generate a significant number of jobs and foreign exchange earnings in the process.
Notably, the engineering sector is the largest contributor to India's overall exports, with a share of 24 per cent, and also contributes approximately 40 per cent of the country's total manufacturing exports.
"The engineering goods exports in FY24 surpassed the previous year's numbers despite a slowdown in some of the key global markets, geo-political tensions, Red Sea crisis and high freight rates," said EEPC India Chairman Arun Kumar .
Merchandise trade deficit in March stands at $15.6 billion, shows data
According to commerce ministry data released on Monday, the imports during 2023-24 stood at 677.24 billion, down 5.41 per cent from $715.97 billion in the preceding year
Wholesale prices rise in March by 0.53% from a year, shows govt data
WPI for potato witnessed a jump of 52.96 per cent against a deflation of 25.59 per cent, while for onion 56.99 per cent as compared to (-) 36.83 per cent in March 2023
BJP promises to double Mudra loan limit to Rs 20 lakh in its poll manifesto
Over 460 million loans worth of Rs 27 trillion have been given so far under Mudra yojana.
BJP manifesto to maintain fiscal prudence, make India 3rd largest economy
The government has set a fiscal deficit target of 5.1 per cent for FY24-25 to stay on track to meet the glide path set in 2021-22. The government aims to reduce the fiscal deficit to 4.5% by FY26
States fiscal deficits for FY24 likely to be close to 3.1% of GDP: Citi
The report suggests grants from Centre to states have been falling due to no GST compensation funds and lower finance commission grants
March retail inflation eases to 10-mth low of 4.85%; IIP grows 5.7% in Feb
But remains well above RBI's 4 per cent target
Election season may hit govt capital expenditure spending, FDI inflows
In case of FDI, the total FDI inflows was over $50 billion in FY20 and its share during the election months of April-May 2019 turned out to be 18.1 per cent
India's key peers show a declining trend in their recent inflation print
Among Brics countries, Brazil, China, and India have shown a decline compared to the previous month and Russia has seen an uptick
Rupee, government bonds weaken post higher-than-expected March US CPI
The 10-year govt bond yield surged 7 bps to its highest level in over two months tracking the rise in US Treasury yields