Net tax revenues for the April-January period were 18.80 trillion rupees, or 81% of the annual estimate, compared with 16.89 trillion rupees in the same period last year, according to the data

India's refiners are keen to take more Russian oil, but there would need to be US approval for buying to ramp up again, the executives said, asking not to be identified because the information is priv

Two developing countries say there is no consensus on proposal and it can't be included in outcome document of ministerial conference

The government has fixed a conservative target of wheat procurement in the range of 30-32 million tonnes for the 2024-25 rabi marketing season, according to the food ministry. The lower target has been fixed despite the Ministry of Agriculture hoping for a record wheat production of 114-115 million tonnes in the 2023-24 crop year (July-June). The target was fixed after a deliberation with state food secretaries in a meeting chaired by Union Food Secretary Sanjeev Chopra in the national capital on Wednesday. "After deliberations, the estimates for wheat procurement during the ensuing rabi marketing season of 2024-25 were fixed in the range of 30-32 million tonnes," the ministry said in a statement. Apart from wheat, the ministry has fixed a rabi paddy procurement target in terms of rice in the range of 9-10 million tonnes. The government has also set a procurement target of 6,00,000 tonnes for rabi coarse grains /millets (Shri Anna). In the meeting, the Centre has asked states and

"Some moderation is expected in October-December GDP growth, with softer growth in manufacturing sector," said Gaura Sen Gupta, an economist at IDFC First Bank

India is a consensus builder in the World Trade Organisation (WTO) by playing a key role in the process but some countries are breaking that, Commerce and Industry Minister Piyush Goyal said on Wednesday. He is here for the 13th ministerial conference (MC) of the WTO. The meeting started on February 26 to discuss issues such as agriculture and fisheries subsidies, dispute settlement and moratorium on customs duty levy on e-commerce trade. The minister's remarks came amid allegations by certain developed nations that India is blocking deals at the WTO. "Our stand is consistent... we have to see who are blocking the issues and who is responsible for not letting things of the WTO smoothly... It is proved that India in fact is a consensus builder and we are playing a key role in making consensus ...and certain countries are breaking that consensus on certain issues," Goyal told reporters here. He also said that India stands on strong principles of fair play, justice at the WTO and want

High frequency indicators reveal that the Indian economy remains resilient with Purchasing Manager's Index (PMI) for services accelerating and manufacturing regaining momentum, economic think tank National Council of Applied Economic Research (NCAER) said in report released on Wednesday. Further, NCAER said the composite PMI accelerated to 61.2 in January from 58.5 in December 2023. PMI for manufacturing activity accelerated to 56.5 in January from 54.9 in December 2023, reflecting an expansionary momentum while PMI for services went up to 61.8 in January from 59 in December 2023, it added. "The markers for the month like PMI and GST collections point to a resilient macroeconomic environment. "An encouraging signal comes from easing of inflationary pressure, especially the moderation in food price inflation," NCAER Director General Poonam Gupta said. The report mentioned about healthy GST collections which reached a value of Rs 1.7 lakh crore in January, registering a year-on-year

The report stated that organised retail in the country has consistently demonstrated faster growth, despite subdued performance in the recent quarters owing to potential headwinds

Under the new norms, banks must categorise bonds as "held-to-maturity" on a permanent basis, with the exception of 5 per cent of the portfolio that can be withdrawn throughout the year

She said that the emphasis of the government has been on system reforms to throw out unnecessary laws that may become an instrument in the hands of rent-seekers

The SBI report estimated the new poverty line at Rs 1,622 for rural areas and Rs 1,929 for urban areas

"It's hard to tell if we are going to land something or if we are sleepwalking into failure," said one trade delegate

The world's two largest aircraft orders were placed by IndiGo and Air India in the last year. In June 2023, IndiGo had placed an order for 500 A320neo family planes with Airbus

Semiconductors emerging as 'big sector' in country as more investments come in, he says

RBI likely to take delivery of the dollar-rupee sell buy swap on Mar 11

The Indian economy is likely to grow at 6.7-6.9 per cent in December quarter FY24 as compared to 7.6 per cent growth in the second quarter on poor performance in the farm sector, a report by SBI Research said on Wednesday. The report comes a day ahead of the release of official GDP data for the third quarter of 2023-24 financial year. India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in September quarter on booster shots from government spending and manufacturing. The 6.7-6.9 per cent growth forecast by SBI Research is lower than the Reserve Bank's 7 per cent growth projection for the quarter. SBI Research has projected Q4 GDP at 6.8 per cent. SBI Research said the biggest reason for the lower growth forecast is the very poor show by the farm sector as, barring fisheries, the whole sector is badly affected. As per the first advance estimates, the production of major kharif crops in 2023-24 is

The Index evaluates the IP frameworks of the world's top 55 economies, revealing significant improvements in 20 economies

South Korea is hoping that the negotiations will conclude before the possible visit of Yoon Suk Yeol, the South Korean President, to India

Union Finance Minister Nirmala Sitharaman on Wednesday hailed Bengaluru tax payers for their contributions in building a strong and 'Viksit Bharat', and said the Department of Revenue is running its entire national faceless income tax assessment scheme from Karnataka's capital city. Speaking after laying the foundation stone for the upcoming complex HONGIRANA for Income Tax officers and staff here, she said the tax payers of Bengaluru have been absolutely giving us the buoyancy, and thanked all individual and corporate taxpayers in this region for making sure for building a strong and 'Viksit Bharat'. "Your contribution is relentless. There has never been a dip. So thank you very much Bengaluru for keeping that momentum up", she said. Sitharaman also emphasised the investments that the Central government is making in Bengaluru. She noted that the Government has brought about the entire faceless system for income tax assessment and ease of doing business to ensure that tax assessee

India has taken the first steps with the UAE to begin work on the India-Middle East-Europe Economic Corridor, or IMEC, Sunjay Sudhir said in an interview in Abu Dhabi