Economy

Indian billionaires: The rise of the few sparks concern about equality

The super-rich increasingly hold more of the national income; their wealth has grown by 263% to $905.6 bn in a decade

Parliamentary panel recommends increasing wages under MGNREGA

It suggested that the number of minimum guaranteed working days under the scheme be increased to 150 days and called for parity in wages that the states pay under MNREGA

RBI has a tough balancing act to do: Ficci's Harsha Vardhan Agarwal

Agarwal expresses confidence of pick up in private capex and opportunities arising out of US president-elect Donald Trump's tariff war

India lays stress on 'transition period' for European Union green norms

India-EU FTA was launched in June 2022. Nine rounds of negotiations have already taken place

India needs to ramp up structural reforms: World Bank Chief Economist Gill

Gill noted that middle-income countries, including India, are more prone to slowdowns compared to low-income or high-income countries

Rupee touches new intra-day low of 84.88 due to rise in crude prices

The local currency settled at 84.87 against the dollar on Wednesday

India must address challenges to unlock its FDI potential: Sanjay Nayar

Says reducing GST on essential goods can stimulate consumption

Nov retail inflation eases to 5.48%; industrial output grows 3.5% in Oct

The data shows higher inflation in rural areas at 5.95 per cent, compared to 4.83 per cent in urban regions

Avoid protectionism that hinders trade: Commerce Secretary Sunil Barthwal

He called for mutual recognition agreements (MRAs) to facilitate trade

Manufacturing firms see decline in operating profit for second qtr in a row

The operating profit for manufacturing firms is down 18.4% year-on-year, according to CMIE

Govt seeks Parliament's nod for over Rs 87K crore extra expenditure

It includes Rs 6,593 cr towards fertiliser subsidy scheme, around Rs 9K cr for agriculture, and Rs 8K cr for defence

India aims to be a maritime power by 2030, says Sarbananda Sonowal

The Union Cabinet had approved the project in October, even though it had been in the works much earlier. Currently, its physical progress stands at 60 per cent

Credit grows at 10.6% and deposits at 10.7% in November 29 fortnight

Data shows outstanding deposits in the fortnight ending November 29 stood at Rs 220.17 trillion, while outstanding credit stood at Rs 175.09 trillion

How discussions at COP29 could shape India's renewable energy future

The goal of tripling renewable energy by 2030, set at COP28, depends on urgently mobilising international finances for the developing world

Green shoots seen on consumption, food inflation likely to fall: Ficci Prez

Government spending in the right areas -- like increase in capex and ramping up infrastructure, rather than focusing on revenue expenditure -- is helping the overall economy

Centre seeks Parliament approval for extra Rs 86,730 crore spending in FY25

The net additional spending, as stated by the government, amounts to Rs 44,183 crore for the financial year ending March 31

Retailers urge FinMin and GST Council not to go for higher 35% tax rate

All the gains of the GST regime will be wiped out, with permanent damage to the vast age-old retailer network of India

RBI's forex swaps, arbitrage spur inversion of rupee forward premiums curve

The implied yield on near-maturity forwards is now higher than on longer-term forwards for the first time this year

'Should not be concerned much about imports as long as exports' grow'

The secretary said that one needs to avoid the mercantilist approach and should not bother too much about trade balance and imports

Need energy transition without compromising economic growth: CEA Nageswaran

Assuaging concerns of slowdown, he said, India is on track to achieve 6.5-7 per cent GDP growth for the current fiscal pencilled in Economic Survey