The US on Thursday announced that a key agreement on supply chain resilience under the Indo-Pacific economic framework involving 14 partner nations, including India, Japan and Australia, will come into force on February 24. US Commerce Secretary Gina Raimondo said the pact will facilitate a collaborative approach to strengthen supply chains and prevent potential disruptions. The US Department of Commerce said the Indo-Pacific Economic Framework for Prosperity (IPEF) agreement relating to supply chain resilience will enter into force on February 24. "This is a critical step in bringing the landmark, first-of-its kind agreement into action and promoting coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and inclusive supply chains," it said.

The Union Minister also underscored the success of India's G20 presidency and said that during the tough times engulfed by the COVID-19 pandemic, India navigated its way and addressed global problems

Proactive inflation management has helped keep the country's inflation within the manageable range, Finance Minister Nirmala Sitharaman said while presenting the interim Budget on Thursday. She also said that the inflation has moderated. The Reserve Bank of India has been mandated by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side. Retail inflation rose at the fastest pace in four months in December 2023 at 5.69 per cent on account of an increase in prices of vegetables, pulses, and spices. The annual inflation based on the Consumer Price Index (CPI) was at 5.55 per cent in November and 5.72 per cent in the year-ago month. As per the data released by the National Statistical Office (NSO), the rate of price rise in the food basket, which constitutes nearly half of the CPI, increased to 9.53 per cent in December 2023 against 8.7 per cent in the preceding month and 4.19 per cent in December 2022. In August 2023, inflation ha

New orders placed with Indian goods producers rose at a sharp pace in January and were the strongest in four months

Domestic LPG cylinder prices remain unchanged and ATF prices for domestic flights in Delhi saw a slight decrease

The present guidelines are to streamline the claims process, as many times a member has multiple accounts and the contributed amount varies, causing trouble during the calculation of the amount

RBI's Digital Payments Index comprises five broad parameters that measure the penetration of digital payments in the country over different time periods

Goods and Services Tax (GST) collections jumped 10.4 per cent to over Rs 1.72 lakh crore in January, the finance ministry said on Wednesday. This is the second-highest monthly collection ever and marks the third month in this financial year with a collection of Rs 1.70 lakh crore or more. "The gross GST revenue collected in the month of January 2024 (till 05:00 PM of 31.01.2024) is Rs 1,72,129 crore, which shows a 10.4 per cent y-o-y growth over the revenue of Rs 1,55,922 crore collected in January 2023 (till 05:00 PM on 31.01.2023)," the ministry said. During the April 2023-January 2024 period, cumulative gross GST collection witnessed 11.6 per cent year-on-year growth (till 05:00 PM of 31.01.2024), reaching Rs 16.69 lakh crore against Rs 14.96 lakh crore collected in the same period of the previous year(April 2022-January 2023). The highest-ever monthly GST collection was recorded in April 2023 at Rs 1.87 lakh crore.

For the April-December period, the core sector output growth stood at 8.1 per cent, against 8 per cent in the previous financial year

Retail inflation for industrial workers eased marginally to 4.91 per cent in December from 4.98 per cent in November 2023, mainly due to lower prices of certain food items. "Food inflation stood at 8.18 per cent (in December 2023) against 7.95 per cent of the previous month (November 2023) and 4.10 per cent during the corresponding month (of December 2022) a year ago," a labour ministry statement said. According to the statement, the year-on-year inflation for the month (December 2023) stood at 4.91 per cent compared to 4.98 per cent in the previous month (November 2023) and 5.50 per cent (December 2022) in the year-ago period. The All-India Consumer Price Index for Industrial Workers (CPI-IW) for December 2023 decreased by 0.3 points and stood at 138.8 points. It was 139.1 in November last year. On one-month percentage change, it decreased by 0.22 per cent with respect to the previous month compared to a contraction of 0.15 per cent a year ago. The maximum downward pressure in th

Decline in regular wage employment in general category led to an increase in self-employment and casual work

The government's capital expenditure for the April-December financial year 2024 period stood at 67.3 per cent of the target, with the third quarter seeing an expansion of 24 per cent in the capex

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

Both South Asia and the Persian Gulf have strong commercial, energy, cultural and people-to-people links, the MEA said

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

Key recommendations from the central government's advisories include promoting women in leadership and management roles, crafting gender-neutral job advertisements, among others

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

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

With inflationary pressures "receding rapidly," prospects for a soft landing were improving in Asia, he said

Expansions in the West are non-existent," said Giovanni Serio, Vitol Group's head of research