BUSINESS
India Inc's resistance on tax concessions could hinder FTAs with UK, EU: Piyush Goyal
While talks with EU have entered the eighth round, which was held on June 24-28 in Brussels, with UK, 13 rounds have been concluded
BUSINESS
Considering EU suggestion on India's own carbon tax, says Piyush Goyal
The carbon tax will hurt EU's economy very badly and can lead to 'further distress' , says the minister
BUSINESS
Piyush Goyal says no re-thinking on supporting Chinese investments in India
The Economic Survey for 2023-24 pitched for more FDI from China in a bid to lower India's import dependency on Beijing.
BUSINESS
Capital gains tax hike is 'irrelevant fiddling'; has no impact on India’s fiscal fortunes: former PMEAC member Rathin Roy
The economist said that given that spending on infrastructure is capital-intensive, it may not lead to the creation of jobs. “If you really wanted to create jobs, you would spend money on health and education,” he added.
BUSINESS
Should India welcome more FDI from China?
Presumably prompted by falling FDI inflows and the rising trade gap with Beijing, the Economic Survey made a case for more investments from China, an issue on which Indian authorities have initiated talks as well. However, experts warn such a move could risk India's manufacturing potential and may not necessarily reduce import dependency.
BUSINESS
India's debt over deficit plan includes gradual return to pre-Covid borrowing levels
The new medium-term fiscal consolidation path has been linked to a reduction in debt-to-GDP ratio instead of merely focusing on progressively targeting a narrower fiscal deficit target. Given this shift, the plan is to steadily reduce gross market borrowings, which was at Rs 7.1 lakh crore in FY20, the last 'normal' year prior to the pandemic.
BUSINESS
India mulls easier norms for FPIs to take the FDI route, says DEA Secretary
Another area, where the government may consider easier norms pertains to making it smoother for Indian companies with larger overseas investments to invest back into the country.
BUSINESS
Discussion paper on crypto policy likely before Sept, says DEA secretary
The rationale behind the discussion paper is to seek comments and views from relevant stakeholders on the ideas outlined in it. This paper will also contain suggestions on the remit of regulations for cryptocurrencies in India, added Economic Affairs Secretary Ajay Seth.
BUSINESS
Plan to link fiscal glide path to lower debt-to-GDP a message in advance to ratings agencies: DEA secretary
Economic Affairs Secretary Ajay Seth said that the strength of the Indian economy including its public finances, deserves a much better rating.
BUSINESS
RBI vetting process for IDBI Bank stake sale in advanced stage, says Dipam Secy
The Centre, which owns a 45.48 percent stake, and LIC, with 49.24 percent, together plan to offload 60.7 percent of their holdings in in IDBI Bank
BUSINESS
Finance Secretary TV Somanathan confident nominal GDP growth is unlikely to be below 10.5%
Finance Minister kept the nominal growth target unchanged at 10.5% for 2024-25, finance secretary, TV Somanathan in an interview to Moneycontrol said he expects real growth between 6.5-7 % for FY 25
BUSINESS
Cannot become Viksit Bharat without taxing capital gains appropriately: Fin Secy Somanathan
In what may be indicative of the government's stance on the capital gains tax regime going ahead, Somanathan said, "earners of capital gains are not poor and we will keep taxing them at a decent rate."
BUSINESS
India's plan to link fiscal glide path to lower debt-to-GDP ratio may spur rating upgrade
From 2026-27 the government will endeavour to keep the fiscal deficit such that debt as a percentage of GDP will be on a declining path. Terming it as a new approach, the finance secretary said that the original 3 percent fiscal deficit target may not be relevant for today's fast growing Indian economy.
BUSINESS
Interview: Identify sectors that can boost Indian exports with Chinese FDI, says CEA Nageswaran
Weighing in on falling FDI flows into the country, the chief economic adviser said that this decline is not a sign of decreasing interests among investors.
BUSINESS
CEA on low green bonds 'greenium': Pvt investors need to walk the talk on sustainable investment
Greenium refers to the premium that the issuer receives on green bond issuances wherein investors are willing to accept lower yields on such debt instruments due to the sustainable nature of the projects financed by their proceeds.
BUSINESS
Invoke export bans only under exceptional circumstances, suggests Economic Survey
According to the survey, infrequent bans or restrictions on food exports may also allow domestic consumers to substitute, especially if the agricultural commodities in question are not essential consumption items such as food grains.
BUSINESS
Export curbs, Red Sea crisis key risks to India's trade: Economic Survey
The survey noted that changes in trade policies by major partners and geopolitical developments can affect India's export opportunities and market access.
BUSINESS
India's inflation targeting framework needs a relook, suggests Economic Survey
These comments come at a time when India’s retail inflation rose to four-month high of 5.08 percent in June compared with 4.75 percent in the previous month as food inflation galloped to 9.4 percent due to a surge in prices of vegetables.
BUSINESS
Steep interest rates, uncertain tax policy may limit FDI flows into India: Economic Survey
While, highlighting the downsides of FDI inflows into India going ahead, the survey did mention that the moderate fall in gross terms shows that investor sentiment towards the country remains unchanged.
BUSINESS
Economic Survey pegs FY25 GDP growth at 6.5-7%
The Survey notes that though the Indian economy is on a "strong wicket and stable footing, demonstrating resilience in the face of geopolitical challenges," and has consolidated its post-Covid recovery, heavy lifting has to be done on the domestic front to sustain this recovery
BUSINESS
Economic Survey preview: Watch for GDP growth forecast, comments on food inflation, climate strategies
The survey will outline the key economic metrics of the country, most notably the forecast for real GDP growth for the ongoing financial year.
BUSINESS
Budget 2024: Can welfarism revive India’s disinvestment agenda?
According to ICRA's chief economist Aditi Nayar, disinvestment may not pick up steam immediately. The government is unlikely to include a significantly higher target for the same in the full budget scheduled to be presented on July 23, she added.
BUSINESS
Budget 2024 needs to outline India's fiscal roadmap strategy beyond FY26, says economist NR Bhanumurthy
Bhanumurthy is of the view that the Centre may stay away from introducing fresh schemes modelled around cash transfers in the full Budget for 2024-25.
BUSINESS
Govt forms taskforce, plans digital platform to help exporters tackle non-tariff barriers
Given that the requirements around non-tariff measures differs across countries, the task force is expected to come up with steps to aid exporters to meet them.
