Economic Policy

The new scheme, likely to be backed by Nabfid, aims to offer retail investors an alternative savings route to equity markets

The Congress on Sunday claimed that India was facing a "demand crisis" due to sustained income stagnation and said the 'double engine' of private investment and mass consumption that powered the UPA's decade of sustained GDP growth has been "derailed" in the last ten years of the Modi government. Congress general secretary in-charge communications Jairam Ramesh urged the government to accept what the Congress has been proposing - raising MGNREGA wages to a minimum of Rs. 400 per day, guaranteeing MSP and a loan waiver for farmers, and a monthly income support scheme for women - to kickstart income growth in rural India. He said that with each passing day, the tragedy of India's dying consumption story becomes more evident. Last week, several CEOs from India Inc raised the alarm over the 'shrinking' middle class and now, new data from NABARD's All India Rural Financial Inclusion Survey (NAFIS) 2021-22 adds to the evidence that India's demand crisis is a result of sustained income ...

The SC ruling, held by a majority of 8:1, adds that private property does not qualify as 'material resources of the community' as defined under Article 39(b) of the Indian Constitution

Naidu further stated that the government's primary responsibility is not only to provide welfare measures but also to increase the incomes of the people

The Conclave will be inaugurated by Finance Minister Nirmala Sitharaman on October 4

Raising wages, opening up the domestic consumer market to foreign goods, and enhancing the social welfare net are the usual recommendations of economists

The Indo-Pacific Economic Framework for Prosperity (IPEF) negotiations have mostly been conducted in secrecy with limited public input and it raises concerns whether the member countries, including India, were able to protect their key interests, think tank GTRI said on Sunday. The 14-member IPEF bloc was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23, 2022, in Tokyo. Together, they account for 40 per cent of the world's economic output and 28 per cent of trade. The framework is structured around four pillars relating to trade, supply chains, clean economy and fair economy. India has joined all the pillars except the trade. Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US, and Vietnam are members of the bloc. The countries have signed pacts on supply chains, clean economy, and fair economy so far. India signed the clean and fair economy pacts on ...

Our stated policy is to prevent excessive volatility of the rupee, said Reserve Bank of India governor Shaktikanta Das

Looking at necessities of a livable Earth - including the climate, freshwater systems, biodiversity and soil nutrients - the researchers find almost all have crossed crucial thresholds

Few elections have been defined by manifestos, but manifestos have often been seen as a guide to how the rival parties will govern

Political calculations may have slowed privatisation, but economic policies to improve the public sector's performance brook no delay

Stability and economic progress will have to be restored

Saudi oil giant Aramco reported half-year profits Tuesday of USD 56.3 billion, down from the year before due to weakening volumes sold amid worries about the global economy. Aramco, formally known as the Saudi Arabian Oil Co., said its overall revenue for the half-year was USD 220.7 billion, up from USD 218.6 billion the year before. Profits in 2023 were USD 61.9 billion, nearly USD 5 billion higher. The decrease was primarily a result of lower crude oil volumes sold, weakening refining margins and lower finance and other income, Aramco said in a filing on Riyadh's Tadawul stock exchange. This was partially offset by higher crude oil prices and lower production royalties compared to the same period last year and lower income taxes and zakat, or Islamic charitable contributions. Saudi Arabia, a leader in the OPEC cartel, has allied with Russia and others outside of the group to try to keep production down to boost global oil prices. Benchmark Brent crude traded around USD 77 a barrel

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The Group of Seven industrialised nations have committed to promoting concrete infrastructure initiatives such as the India-Middle East-Europe Economic Corridor (IMEC) in the G7 Summit Communique issued at the end of the three-day G7 Summit, attended by Prime Minister Narendra Modi. The Communique was issued on Friday evening after the customary family photo at the luxury resort of Borgo Egnazia, where the G7 also reiterated a commitment to a free and open Indo-Pacific based on the rule of law. Prime Minister Modi attended the G7 Summit at the invitation of Italian Prime Minister Giorgia Meloni, the host. We will further promote concrete G7 PGII (Partnership for Global Infrastructure and Investment) initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the ...

The new govt will announce a budget shortly after it comes to power, which will likely focus on "all the good stuff that is happening while trying to see what other changes have to be made," he said

International trade right now is bringing back memories of the Cold War. What can be India's role in it?

Transitioning away from industrial norms, the 21st-century economy must prioritise work within families

It must deliver on policies required for equitable growth

RBI MPC highlights: Catch all the highlights related to RBI's Monetary Policy Committee announcements here