Page 638 - Economy & Policy News

Inflation may inch down in May-June, indicates Monetary Policy Committee

Economic growth projections were retained at 6.5%, with first two quarters expected to deliver slightly more. Second half likely to yield moderately less pace of growth than assessed in April

Govt wants petrol & diesel prices slashed; OMCs cite Covid losses

OMCs have also seen record-high gross refining margins (GRMs) in FY23

India's May fuel demand rises 8% month-on-month to about 20.03 mn tonnes

Sales of gasoline rose 16.4% to 3.35 million tonnes and sales of diesel increased around 5% to 8.22 million tonnes in May

RBI MPC: When and where to watch policy announcement by Shaktikanta Das

RBI monetary policy: In April, the MPC had decided to pause the repo rate hike for the first time since May 2022

India's inflation has likely cooled to a 20-month low in May: Poll

The poll of 45 economists predicted inflation measured by the CPI rose at an annual rate of 4.42% in May, down from 4.70% in April and set to be the lowest since October 2021

Kerala launches KFON to bridge digital divide with affordable internet

With an estimated cost of Rs 1,611 crore, KFON aims to ensure internet connectivity for approximately 2 million BPL households

Reforms in coal, mining sector led to increased revenues: Pralhad Joshi

The government has launched Mission Coking Coal for exploration, enhancing production, enhancing washing capacity, and auctioning of new coking coal mines

To join or not? India yet to take a final call on IPEF trade pillar

IPEF has four pillars: trade, supply-chain resilience, clean economy, and fair economy (tax and anti-corruption)

Uttar Pradesh adds 126,000 new investors in April; Maharashtra loses pull

Maharashtra, which is home to India's financial capital of Mumbai, has traditionally been the biggest source of investors

OECD marginally raises India's GDP growth forecast to 6% for FY24

OECD said 2022-23 (FY23) ended on a positive note for India with 7.2% growth, due to higher-than-expected agriculture output and strong government spending

Blue, space economy to add value in India's growth: Jitendra Singh

Union Minister Jitendra Singh on Wednesday said lesser explored areas like ocean resources and space will do value addition in the future economy of the country

HC upholds GST rules on taxing intermediary services for clients abroad

Bombay HC didn't make any observation on what type of tax would be levied on such services offered by intermediaries

Semicon policy: India aims to leverage potential of high-growth chip market

MeitY eyes a more robust response to a reoriented incentive scheme based on stakeholder feedback

Govt's 20% TCS policy unfair on domestic operators: Travel agents

Overseas travel firms have been granted exemption of up to Rs 7 lakh before TCS kicks in; no such benefit for domestic ones

Slowdown threatens India's booming economy even as its rich keep spending

India grew by 6.1% in the three months ended March compared to a year earlier, well beyond the 5% estimate of economists

270 mn loans to women under MUDRA; here's all you need to know about scheme

The MUDRA loans are given by commercial banks, regional rural banks, small finance banks, microfinance institutions, and non-banking financial institutions

Govt to offer Rs 3,760 cr as incentives to boost battery storage projects

The scheme aims to boost battery storage projects that are crucial to India's plan to expand its renewable energy capacity to 500 gigawatts (GW) by 2030

Bond yields ease amid a surge in liquidity surplus, ahead of RBI's policy

Surplus liquidity in banking system hits Rs 2.25 trn

Indian economy to be the fastest-growing in FY24, says World Bank

Global growth forecast lifted to 2.1%

India's JAM trinity to push Africa's digital reach: Sunil Bharti Mittal

B20 Council on African economic integration to submit report to G20 in August