Analysts point to the gaping gap between Japanese and U.S. government debt yields as the force behind the yen's slide

Meanwhile, the agency also noted that private consumption has been less vigorous, confirming the preliminary findings from the latest household consumption expenditure survey

The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of the high value banknotes was announced, has declined to Rs 7,961 crore at the close of business on April 30, 2024, the Reserve Bank said in a statement. "Thus, 97.76 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," it said. The Rs 2000 banknotes continue to be legal tender. People can deposit and/or exchange Rs 2000 banknotes at 19 RBI offices across the country. People can also send Rs 2000 bank notes through India Post from any post office to any of the RBI Issue Offices for

India's services exports declined 1.3 per cent in March to USD 30 billion while imports fell by 2.1 per cent to USD 16.61 billion, showed Reserve Bank data released on Thursday. As per RBI's data on India's international trade in services, the trade surplus during March 2024 was USD 13.4 billion. Both exports and imports of services were in positive zone in the preceding two months. According to the commerce ministry data, the services export during fiscal 2023-24 is estimated at USD 339.62 billion and imports at USD 177.56 billion. The trade surplus or difference between exports and imports works out to be USD 162 billion during the year. Despite persistent global challenges, overall exports (merchandise and services) are estimated to reach USD 776.68 billion in 2023-24 as compared to USD 776.40 billion in 2022-23.

The OPEC+ group is currently cutting output by 5.86 million bpd, equal to about 5.7% of global demand

The yield on the benchmark 10-year government bond fell by three basis points to settle at 7.16 per cent, against 7.19 per cent on Tuesday

India is one of the lowest among the Asia Pacific nations when it comes to health insurance for older people and needs to expand universal health coverage to meet the needs of rapidly ageing population and sustain growth momentum, a report by ADB said on Thursday. While the South Korea and Thailand have achieved universal health coverage, others lag behind with India having the lowest health insurance coverage among older people at 21 per cent, a report titled 'Aging Well In Asia' prepared by ADB said. However, schemes like Ayushman Bharat that provides cashless healthcare to bottom quartile of population has improved health coverage since its launch, ADB senior economist Aiko Kikkawa said here. Expanding it further will improve the condition and make people aged over 60 years more productive for the economy, she said, adding, silver dividend can be higher for such countries who gainfully employ them. Besides achieving universal health coverage, she said, it is also critical to ext

Manufacturers report robust demand from Indian and foreign clients, says HSBC final survey for the month

Business optimism improved as firms expected demand to remain buoyant and higher production volumes in the coming 12 months

The acceptance of Sovcomflot tanker by the country's largest refiner carries significance as it could embolden other smaller refiners to also use Sovcomflot vessels for their oil purchases from Russia

Fed holds rates steady, flags 'lack of further progress' on inflation

Experts say richer nations would pressure developing ones to meet green targets

India needs to address the quality issues with urgency, the think tank said

Net GST collections rise by 17%

Finance Minister Nirmala Sitharaman on Wednesday said GST collection breached the Rs 2 lakh crore milestone on the back of strong economic momentum and efficient tax realisation. In a post on X (formerly Twitter), the minister also lauded the efforts of the central and state officers of the revenue department and the Central Board of Indirect Taxes & Customs (CBIC) for their "sincere and collaborative efforts" in achieving this landmark. "GST collection crosses Rs 2 lakh crore benchmark, thanks to the strong momentum in the economy and efficient tax collections," she said. Goods and Services Tax collection grew 12.4 per cent to a record high of Rs 2.10 lakh crore in April, driven by increased domestic transactions and imports. The collection was Rs 1.87 lakh crore in April 2023. Out of the IGST collection, Rs 50,307 crore was settled towards CGST and Rs 41,600 crore towards SGST. This translates to a total revenue of Rs 94,153 crore for CGST and Rs 95,138 crore for SGST in April ..

Former RBI Governor Duvvuri Subbarao has opined that only enlightened leadership at Centre and state levels can resolve the complex north-south divide in deciding on the distribution of the tax pool among states, saying it is beyond the remit of the Finance Commission. Subbarao, who held various positions including the finance secretary of Andhra Pradesh and Union finance secretary, and wrote extensively on issues in fiscal federalism in his new book titled 'Just A Mercenary?: Notes from My Life and Career' further said that horizontal sharing of the divisible pool of taxes has always been a contentious issue but will be even more so in this round. "This (north-south divide in deciding on the distribution of the tax pool among states) is a complex political challenge beyond the remit of the Finance Commission. "Resolving it will demand enlightened leadership at central and state levels that can look beyond politics and build a consensus around an optimal way forward," he told PTI.

Driven by domestic transactions and imports, the gross goods and services tax (GST) collections for April 2024 saw a 12.4 per cent year-on-year growth

A 19 kg cylinder will now costs Rs 1,745.50 in Delhi as against Rs 1,764.50 as of last month

Prime Minister Narendra Modi - who is seeking a third term in elections that run until June 1 - has been campaigning on making India a developed nation by 2047

(Reuters) - India has cut its windfall tax on petroleum crude to 8,400 Indian rupees ($100.66) a metric ton from 9,600 rupees with effect from May 1, the government said on Tuesday