HSBC Bank survey says 'buoyant demand' led to a 'cascade of positivity for the sector'

The 1.97-trillion-rupee ($24 billion) production-linked incentive scheme (PLI) is India's key industrial policy and covers 14 sectors ranging from electronic products to drones

In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction

China imported 1.82 million barrels per day of Russian crude by sea in March, exceeding India's 1.36 million bpd

So far, India has allowed only partial commercialisation for its three existing SPRs in southern India, which have a combined capacity of 36.7 million barrels

The windfall tax, which is revised fortnightly, remains at zero for diesel and aviation turbine fuel

The monetary policy committee of the RBI had hiked the policy repo rate by 250 basis points (bps) between May 2022 and February 2023 before hitting a pause

The highway authority has constructed 6,644 km stretch, exceeding its FY24 construction target, according to an official

Labour productivity and the working-age population, the twin engines of growth in the South Asian region, are slowing

Merchandise exports grew at fastest pace in 20 months at 11.9% in Feb

The objective of the joint call is to create solutions and use cases in the mutual areas of interest using high-performance computing, said the ministry

Out of the total production of 147.2 MT, the power sector captive mines produced around 121.3 MT, captive mines of the non-power sector produced 8.4 MT

OPEC+ members, led by Saudi Arabia and Russia, last month agreed to extend voluntary output cuts of 2.2 million barrels per day (bpd) until the end of June to support the market

The indirect tax collection for FY24 has exceeded the revised estimates (RE) of Rs 14.84 lakh crore by "a handsome margin", helped by a record GST mop-up, a top government official said. Lauding the efforts of tax officials, CBIC chairman Sanjay Kumar Agarwal, in a letter to field officials, said, "I am happy to inform that the indirect tax collections for the Financial Year 2023-24, including Customs and Union Excise Duty have exceeded the Revised Estimates by a handsome margin". This achievement not only reflects professionalism but also underscores the strength of teamwork and perseverance within the CBIC community, he said, adding that "your relentless efforts have not gone unnoticed, and I extend my heartfelt appreciation to each and every member for their invaluable contributions throughout the year". The gross GST mop up for 2023-24 also marks a milestone with the collection of Rs 20.18 lakh crore -- comprising state GST, Central GST, integrated GST and compensation cess -- .

As India heads into a general election this month, the economy is growing faster than expected amid signs prices are trending lower though food inflation remains a risk

As a consuming nation any increase in prices will cause concern and anxiety, Jain said at an industry event, referring to the "geopolitical premium" in crude prices

Women dominated the household unpaid category while it was own-account for men within self-employment

Senior officials of India and the five-nation Eurasian Economic Union (EEU) bloc held detailed discussions last month to formally start negotiations for a free trade agreement to boost economic ties, an official said. The five members of the EEU are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. The official said two feasibility studies have already been conducted on the proposed agreement. In such agreements, two or more trading partners either eliminate or significantly reduce customs duties on the maximum number of goods traded between them. These agreements provide greater market access to Indian goods and services. "Senior officers of both sides have met on March 28 here and have discussed formally starting talks for the FTA," the official said. An industry expert said domestic exporters from sectors like engineering goods, electronics and agriculture can get an edge from the agreement. Russia is the top trading partner of India in the bloc, with bilateral trade worth

The share of IT software in the gig economy has nearly doubled, jumping from 22 per cent in March 2023 to a dominant 46 per cent in March 2024

The government has broadly met the tax collection target of over Rs 34.37 lakh crore for 2023-24 on the back of robust economic activity and improved compliance, an official said. "Overall targets for tax revenue have been met," the official told PTI. The government had raised the target for direct tax collection in FY24 (April 2023 to March 2024) to Rs 19.45 lakh crore, while for indirect taxes (GST+ Customs + Excise) the target was lowered to Rs 14.84 lakh crore in the revised estimates (RE) presented in Parliament on February 1, 2024. The net direct tax collections (comprising corporate tax and personal income tax) reached over Rs 18.90 lakh crore as of March 17. GST remained a high point during the last fiscal with collections reaching a record high of Rs 1.87 lakh crore in April 2023 and the second highest collection coming in at Rs 1.78 lakh crore in March 2024. The gross tax collection target as per the revised estimate stood at Rs 34.37 lakh crore for FY24. Tax collection