India soars to 39th, sole South Asian nation in top 50: WEF

FCNR deposits were at $25.73 billion in March 2024, up from $24.90 billion in February 2024. This was higher than the $19.36 billion at the end of March 2023

The report notes that the share of public administration and defence improved, attributable to increased government spending

Interacting with the ICAI in Patna, Sitharaman sought a commitment from them to start work on the same as part of their 100-day agenda for Viksit Bharat by 2047

The remittances have seen a continuous increase in the last 10 years owing to improved per capita income in the country

Lowest in over a decade; Gross FDI stable at $71 bn

Household savings are likely to rise in fiscal 2023-24, an arm of a domestic rating agency said on Tuesday. Crisil Market Intelligence and Analytics said there are "early indicators", which show that household savings would have revived in FY24, while growth in household liabilities would have moderated. "Proxy data suggest a rebound in the overall savings rate in FY24, with contribution from households," it said in a note, adding that household savings constitute 60 per cent of the total savings in the economy. It can be noted that official data released last year showed a dramatic fall in India's net financial household savings rate to a 47-year-low of 5.3 per cent from 7.3 per cent in FY22. The Crisil report explained that households have been borrowing at a faster pace than they have been saving since the pandemic, due to which the net household financial savings, which was arrived at by adjusting financial savings for liabilities. Factors like retail credit push by banks and

The demand for skilled blue-collar workers from India has gone up by 25 per cent in the UAE during May 2023-April 2024, compared to the same period of the previous year, especially in sectors including technology, healthcare, construction, among others, a report said on Tuesday. According to a report by blue-collar worker marketplace Huntr, the demand for skilled blue-collar workers from India has surged by 25 per cent during May 2023-April 2024, as compared to the same period of the previous year. In terms of job roles, the demand for electricians, plumbers and technicians has grown at a rate of around 20-25 per cent over the past year, it added. However, the demand for non-skilled workers has seen a more modest increase of approximately 10-15 per cent leading to a decline in the migration of non-skilled workforce by around 10 per cent, it noted. The report by Huntr is based on quantitative surveys with qualitative interviews with 1,00,000 blue workers enrolled on the platform fro

With the import monitoring system now in place, the government is able to collect data about specific products coming in from different sources

RBI has projected consumer price index (CPI) inflation of 4.5 per cent in FY25, with Q1 at 4.9 per cent; Q2 at 3.8 per cent; Q3 at 4.6 per cent; and Q4 at 4.5 per cent

IREDA launched its initial public offering (IPO) in December 2023 and debuted on Dalal Street after two failed attempts over the last decade

India is on the cusp of long-awaited take-off on the back of rising aggregate demand, and non-food spending in rural economy, according to the Reserve Bank of India May Bulletin released on Tuesday. The outlook for the global economy is turning fragile as the descent of inflation is stalling, re-igniting risks to global financial stability, said an article on 'State of the Economy' published in the Bulletin. Capital flows have become volatile as nervous investors turn risk averse, it added. The article is prepared by a team led by Reserve Bank Deputy Governor Michael Debabrata Patra. The article further said "there is a growing optimism that India is on the cusp of a long-awaited economic take-off" as recent indicators are pointing to a quickening of the momentum of aggregate demand. It notes that for the first time in at least two years, rural demand for fast moving consumer goods (FMCG) has outpaced urban markets -- in the quarter just gone by. FMCG volume growth of 6.5 per cen

India's crude oil import reliance hit a record 87.8 per cent in FY24 and is expected to rise in FY25 due to growing demand and stagnant domestic production

It likely overstates actual risks associated with the vaccine and conflates common illnesses with vaccine-related adverse effects

Reliance is unlikely to share sensitive information with the state oil refiners given they're competitors in the domestic fuel market

Rules referred to 2012 have been replaced with 2021 and there is no change in policy, says senior government official

Domestic rating agency ICRA on Tuesday projected India's GDP growth to moderate to a four quarter low of 6.7 per cent in March quarter of 2023-24 fiscal. For the full 2023-24 fiscal, ICRA estimates GDP growth to come in at 7.8 per cent. The Indian economy grew 8.2 per cent in the June quarter, 8.1 per cent in the September quarter and 8.4 per cent in the December quarter of 2023-24. ICRA Chief Economist, Head-Research & Outreach Aditi Nayar said the lower volume growth coupled with diminishing gains from commodity prices dampening the profitability of some of the industrial sectors is expected to dampen India's GVA growth in Q4 FY2024. India's GDP expanded 6.1 per cent in the March quarter of 2022-23 fiscal, as per May 31, 2023 estimates. The growth for full fiscal 2022-23 was 7 per cent. The GDP numbers for the fourth quarter (January-March 2024) and the provisional estimates for the 2023-24 fiscal are scheduled to be released on May 31. ICRA, in a statement, said the gap betwee

India, the world's third-biggest oil importer and consumer, is the top client for Russian seaborne oil

There is no implication of this notification. The import policy for these categories in question were restricted anyway, so its status quo, a government official aware of the matter said on Tuesday.

Retirement fund body EPFO has recorded a net addition of 14.41 lakh members in March this year, according to the latest payroll data released on Monday. The payroll data highlighted that approximately 11.80 lakh members exited and subsequently rejoined the EPFO (Employees' Provident Fund Organisation), a labour ministry statement said. According to the statement, these members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, safeguarding long-term financial well-being and extending their social security protection. The EPFO's provisional payroll data released on Monday also showed that the body has added 14.41 lakh net members in March 2024, the ministry stated. The data indicates that around 7.47 lakh new members have been enrolled during March 2024. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 56.83 pe