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Updated: 2 hours 43 min ago

India's oil imports from Russia threatened after US imposes new sanctions

Wed, 02/28/2024 - 03:34
Washington on Friday imposed sanctions to mark the second anniversary of Moscow's invasion of Ukraine and retaliate for the death of opposition leader Alexei Navalny

Poverty rate in India between 4.5-5% in 2022-23; rural poverty at 7.2%: SBI

Wed, 02/28/2024 - 00:41
Meanwhile, urban poverty declined to 4.6 per cent from 13.7 per cent during the same period

India's thermal coal imports fall for first time since Covid-19 pandemic

Tue, 02/27/2024 - 21:43
Surging production and supplies by world's largest miner Coal India have pushed stockpiles at power plants to record highs of over 43 million metric tonnes

India calls China-backed IFD proposal at WTO as non-trade issue: Official

Tue, 02/27/2024 - 21:07
As per the WTO, the Investment Facilitation for Development (IFD) Initiative, was originally launched in the spring of 2017 by a group of developing and least-developed WTO members

WTO: Fisheries subsidies are vital for developing countries, says India

Tue, 02/27/2024 - 12:49
With about 9 million people dependent on the sector, India constitutes 25 per cent of the world's fishermen

RBI consolidates reporting norms for REs, eases compliance burden

Tue, 02/27/2024 - 10:04
Consolidates 21 existing instructions; Audited returns to be filed within five days of signing reports

India-UK FTA: Goyal, Badenoch meet to decide future course of action

Tue, 02/27/2024 - 09:48
The ministers are expected to hold bilateral talks on the sidelines of the World Trade Organization's four-day summit - the 13th Ministerial Conference -- in Abu Dhabi

Corporate bonds witness strong demand in February as yields soften

Tue, 02/27/2024 - 09:07
Market participants expect that states' borrowing for both the current quarter and the entire financial year will be significantly lower than the calendar projections

Digital infra a modern day factor in production, development: FM Sitharaman

Tue, 02/27/2024 - 07:58
Indian industry should speed up investments and for more joint venture partners around the world, says Finance Minister

Digital infrastructure is a modern day factor of production: FM Sitharaman

Tue, 02/27/2024 - 05:01
Sitharaman was speaking at the National Conclave on Viksit Bharat 2047 organised by the Federation of Indian Chambers of Commerce and Industry (FICCI)

India closes in on trade deal with Oman as Mideast ties strengthen

Tue, 02/27/2024 - 00:38
The two sides started talks on the trade pact just three months ago, and their haste in completing the deal shows Prime Minister Modi's determination in building stronger links with the Middle East

Urban Bihar, rural UP lead growth in per capita consumption expenditure

Mon, 02/26/2024 - 12:31
Among the 18 major states and union territories (UTs), average monthly per capita expenditure in rural Uttar Pradesh grew by 301 per cent to Rs 4,641 in 2022-23 from Rs 1,157 in 2011-12

Demand, production of protein, veggies may remain in balance: Survey

Mon, 02/26/2024 - 12:27
The demand and production scenario is as per a Business as Usual (BAU) approach where the overall food demand is expected to grow at an annual rate of 2.44 per cent by 2047-48

Coal sector contributes Rs 70,000 cr every yr to Centre, states: Govt

Mon, 02/26/2024 - 11:30
The coal sector contributes over Rs 70,000 crore every year to the Centre and states, through GST, royalties and other levies, the government said on Monday. These funds play a significant role in the socio-economic development and infrastructure enhancement in those coal-bearing areas, the coal ministry said in a statement. "The coal sector contributes over Rs 70,000 crore annually to the Centre and state governments through royalties, GST, and other levies," the statement said. "Coal production generates substantial revenue for both Centre and state governments, with royalty collections reaching Rs 23,184.86 crore in the fiscal year 2022-23," the statement said. Coal is the single-largest contributor to railway freight, with an average share of nearly 49 per cent of the total freight income amounting to Rs 82,275 crore in 2022-23 alone. This revenue contribution has surpassed 33 per cent of total railway earnings.

India may face 10.5% VAT on production under CBAM regime: ADB study

Mon, 02/26/2024 - 10:35
Sectors like ferrous metals, electricity, petrochemicals expected to be worst impacted

Food weighting in CPI may be cut as spending shifts, says official

Mon, 02/26/2024 - 08:48
Food's weighting in the consumer price index could be lowered in the next revision of the basket of goods due to be completed by next year, the official who declined to be identified told Reuters

Real GDP growth likely expanded by 7% in December quarter: Report

Mon, 02/26/2024 - 08:33
The country's real GDP growth for the December quarter is all set to come at a higher-than-anticipated 7 per cent, a German brokerage said on Monday. "We are forecasting October-December 2023 real GDP to have grown 7.0 per cent year-on-year during the quarter, which is higher than what we had previously anticipated," analysts at Deutsche Bank said in a note. The official data on quarterly growth will be released on February 29. In the three months ended September 2023, the economy had clocked a 7.6 per cent growth. The German brokerage said its estimate is based on a proprietary index of five high-frequency indicators, including industrial production, exports, non-oil-non-gold imports, bank credit and consumer goods. It said that another indicator comprising nearly 65 high-frequency indicators is also pointing towards 7 per cent growth for the December quarter. "The Indian economy has exhibited remarkable resilience despite the Russia-Ukraine war of last year and Covid prior to th

Govt mulls export tax on low-grade iron ore amid call to curb overseas sale

Mon, 02/26/2024 - 08:11
Indian iron ore exports touched 32.2 million metric tons during the first nine months of the current fiscal year that began in April 2023 - worth $2.7 billion - from 9.5 million tons a year ago

Govt on course to achieve small savings scheme collection target for FY24

Mon, 02/26/2024 - 07:57
The government's cash balance is not high too, as borrowings are complete, and it is carrying a modest cash balance to meet its commitments, government sources said

Govt seeks solution to long-pending food stockpile issue at WTO meet

Mon, 02/26/2024 - 07:39
India on Monday called on WTO members to find a permanent solution to the long-pending public food stockpile issue, saying it is directly related to achieving the sustainable development goal of zero hunger by 2030. Commerce and Industry Minister Piyush Goyal said that the World Trade Organisation (WTO) should not negotiate rules on non-trade-related subjects like climate change, gender, and labour and rather these should be addressed in respective intergovernmental organizations. "I re-emphasize that the development agenda would remain incomplete without a permanent solution on public stockholding (PSH) for food security purposes which is directly related to achieving the Sustainable Development Goal of Zero Hunger by 2030, Goyal said. This continues to be a long-pending issue for the last few decades and despite having a clear mandate agreed by the members in the past, finding a permanent solution on PSH remains an unaccomplished agenda on which we have to deliver in MC13. Trade

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