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IMF sees heightening prospects for soft landing in Asian economies

Tue, 01/30/2024 - 21:38
With inflationary pressures "receding rapidly," prospects for a soft landing were improving in Asia, he said

World on cusp of last big refining boom as India starts capacity expansion

Tue, 01/30/2024 - 21:15
Expansions in the West are non-existent," said Giovanni Serio, Vitol Group's head of research

Govt appoints members for new finance panel to recommend on federal taxes

Tue, 01/30/2024 - 20:22
The panel will submit its report by Oct. 31, 2025 covering a period of five years commencing on April 1, 2026

Conflict in West Asia remains growing risk for energy markets: J P Morgan

Tue, 01/30/2024 - 10:56
Recent attacks on vessels in the Red Sea by Iranian-backed Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia

Six Indian markets offer counterfeit products, shows US report

Tue, 01/30/2024 - 10:23
For instance, Heera Panna market reportedly offers counterfeit watches, footwear, accessories, and cosmetics that may have health and safety risks

IMF raises India's GDP growth projection for FY25 by 20 bps to 6.5%

Tue, 01/30/2024 - 10:09
But estimate falls below FinMin's 7% projection

Priority sector credit target to be Rs 3.97 trn for K'taka in FY25: Nabard

Tue, 01/30/2024 - 08:49
NABARD has estimated a credit potential of Rs 3.97 lakh crore for priority sector lending in Karnataka during 2024-25, its Chief General Manager (CGM) T Ramesh said here on Tuesday. Speaking during the State Credit Seminar for Karnataka at their Regional Office, the NABARD CGM said the estimated credit potential is 10.67 per cent higher than the previous years' credit projection. Of the total, the share of agriculture sector including agri-infrastructure and ancillary activities is Rs.1.85 lakh crore (46 per cent), MSME sector is Rs.1.58 lakh crore (40 per cent) and other priority sector activities is Rs.0.54 lakh crore (14 per cent), a statement issued by NABARD quoted him as saying. In the wake of severe drought situation, NABARD has been complementing the efforts of State government by extending financial support to the tune of Rs 990 crore for 119 irrigation projects and Rs 611 crore for drinking water projects under Rural Infrastructure Development Fund and has sanctioned Rs 29

New NPS partial withdrawal: Everything you need to know about pension rule

Tue, 01/30/2024 - 06:08
The Pension Fund Regulatory and Development Authority permits subscribers to make partial withdrawals from their saved pension money in the National Pension System for specific purposes

China threat an opportunity for India-US ties, strong FTA: Congressman Issa

Tue, 01/30/2024 - 05:49
The "threat" posed by China offers an opportunity for the US and India to make strong agreements, including a genuine Free Trade Agreement (FTA) to ensure that the two countries will look at each other as first partners, according to Darrell Issa, an influential American lawmaker. Issa, a Republican Congressman from California, said this during a conversation with Aparna Pande, Research Fellow, India, and South Asia with the think tank Hudson Institute here on Monday. Agreeing that the India-US relationship today does seem to be based in no small part on the China threat, he said, Having said that, I view this China threat as an opportunity to do with that we did not do. The items produced in China could be produced in India, at substantially similar costs (and) would more than allow for India to substantially replace its dirty fuel with clean fuel, Issa said. But that requires that the two countries really make strong agreements, including a genuine Free Trade Agreement (FTA), one

Customs to ease export norms for certain dual-use goods, says DGFT

Tue, 01/30/2024 - 05:40
The government is working to liberalise export norms for certain products which have dual-use like chemicals for companies that have proven track record, a senior official said on Tuesday. Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that dual-use goods and technologies are sensitive and if it goes in the wrong hands of non-state actors, it can cause serious disruptions globally. A small group of rebels in Yemen have disrupted the global trade as they are attacking foreign commercial ships with drones and missiles. "We are working with the industry, with the ministry of external affairs, and with the customs to ensure that a whole lot of sectors are liberalised for those companies which have proven track record of responsible use and responsible exports," Sranagi said here at the 'National Conference on Strategic Trade Controls'. It was organised by the DGFT and the external affairs ministry here. Dual use implies the usage of these goods and technologies in

New Trai chief A K Lahoti has work cut out as issues pile up with regulator

Tue, 01/30/2024 - 05:06
A former Railways board CEO, he is an unconventional choice to lead the regulator

Steel imports hit five-year high in April-December amid soaring demand

Tue, 01/30/2024 - 05:02
India's steel demand is likely to stay strong as the government expects economic growth will outpace the global economy in the next fiscal year

Govt seeks investment commitment from Switzerland under EFTA pact: Report

Tue, 01/30/2024 - 04:11
India has sought investment commitments from Switzerland under the proposed free trade agreement with the four-nation EFTA bloc, a top government official said on Tuesday. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The official also said negotiations for the pact are at an advanced stage and both sides are trying to conclude it fast. The investment commitment would help India balance Switzerland's decision to remove customs duties on most of its goods. When asked if this move would have an implication on the agreement, the official said that it can be bargained against many other things. "We have told them that we will be requiring commitments on investments so that this zero duty on goods can balance more investments and more manufacturing in the country," the official told PTI. The Indian negotiators are also trying to see how the Swiss companies can come and manufacture in India so that it gives a boost to Make in In

India's capex budget: Experts call for multiyear, data-driven plans

Tue, 01/30/2024 - 02:27
A beginning has already been made with detailed planning for the Indian Railways

Centre may push enterprises to use security products developed in India

Tue, 01/30/2024 - 02:26
The government has drawn up a policy, called "National cybersecurity reference framework (NCRF), to provide guidelines on roles and responsibilities for cybersecurity

Kerala govt agrees to discuss financial problems of state in Assembly

Tue, 01/30/2024 - 00:54
The Kerala government on Tuesday agreed to discuss in the state assembly an issue raised by the Congress-led UDF opposition regarding the financial problems being faced by the southern state. The UDF, in an adjournment notice, alleged that the mismanagement and extravagance of the Left government was the cause for the financial problems in the state. Chief Minister Pinarayi Vijayan welcomed the adjournment notice moved by the opposition to suspend the scheduled business of the House and discuss the issue. In view of the stand taken by the CM, Speaker A N Shamseer ruled that the scheduled business of the House would be suspended for two hours at 1 pm for discussion on the notice. Agreeing to discuss the issue, the chief minister said that the government was ready as the opposition in its adjournment notice agreed that the Centre's neglect towards Kerala was one of the reasons for the financial problems in the state. Vijayan also pointed out that despite this, the UDF MPs have never

India, China banks under pressure from different liquidity stories

Mon, 01/29/2024 - 20:25
The liquidity drought may be deliberate. Unlike Beijing, New Delhi has every reason to be sanguine about growth

Unanimity among current RBI monetary policy committee's internal members

Mon, 01/29/2024 - 13:20
The first MPC formulated policies between October 2016 and August 2020. The second MPC, with three new external members, was established in October 2020

Likely surge in prices due to Red Sea attacks, says finance ministry report

Mon, 01/29/2024 - 12:52
Geopolitics may weigh on 'remarkable' export show

Green policy pragmatism shaping India's transition: FinMin economy review

Mon, 01/29/2024 - 11:56
The review has noted the importance of having the right balance between development and emissions mitigation

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