BUSINESS
World Bank raises India's FY25 growth projection to 6.6%; pegs FY24 GDP at 7.5%
Growth in South Asia is projected at 6.0–6.1 percent in 2024–25, stronger than in other emerging market and developing economies, largely due to robust economic activity in India.
BUSINESS
Hand spectrometers to students rather than subsidies to chip makers: Raghuram Rajan
While the former central bank governor clarified that it is not that India should never make chips, "but with every nation trying to pursue the same, it would be a "ruinous race" to get into now."
BUSINESS
Model code may not impact capex pace; less than Rs 1.5 lakh crore needed to meet FY24 aim
Madan Sabnavis, Chief Economist at Bank of Baroda, believes that the Centre should be able to meet the revised capex aim for FY24 since MCC norms do not impact ongoing spending, but he does question whether there are enough infrastructure projects to spend on.
BUSINESS
FTAs with UK, Oman may feature in Centre's 100-day agenda for next govt : Official
The government official added that since the Model Code of Conduct is in place, the trade deals will not be signed before the new govt assumes office and there are no plans to seek permission from the Election Commission to ink these FTAs while MCC is in force.
BUSINESS
CEA Nageswaran on Daniel Kahneman: An e-mail exchange and the science of human decisions
The Chief Economic Advisor recalled an e-mail exchange between him and Kahneman back in 2012 where the celebrated psychologist praised Nageswaran's review of his book ‘Thinking, Fast and Slow’.
ECONOMY-2
India's current account deficit narrows to $10.5 billion in October-December
For the April-December period of the ongoing financial year, India’s current account deficit moderated to 1.2 percent of GDP from 2.6 percent in the corresponding period a year ago on the back of a lower merchandise trade deficit.
BUSINESS
In meetings with Fin Min, global investors shared plans to step up bond purchases post index inclusion
In meetings with senior finance ministry officials in February, top global investors communicated plans to step up their investments through the fixed income route once Indian government bonds are included in global indices.
BUSINESS
Electoral bonds: Subsidiary of BJP's top donor is Congress' second-biggest funder
Mamata Banerjee's TMC received more than half of its total donations from electoral bonds worth Rs 1,610 crore from Future Gaming and Hotel Services PR (Rs 544 crore) and Bengal-based Haldia Energy (Rs 281 crore).
BUSINESS
India's nominal GDP growth aim may be revised upwards in FY25 Budget: Govt source
Achieving a higher nominal GDP growth would be crucial in FY25 given that the Centre is looking to lower its fiscal deficit target to 5.1 percent versus a revised assumption of 5.8 percent in the current fiscal year
BUSINESS
Tesla and beyond: India bets on EV policy sops to attract global players
India has already taken steps to push for the adoption of EVs, including PLI schemes on advanced chemistry cells, automobiles and automobile components, even as the GST on EVs was reduced to 5 percent from 12 percent.
BUSINESS
India-UK FTA: Majority of outstanding issues moving towards resolution
"Both sides are actively engaged in talks, and both sides want a fair, equitable deal. Negotiators are still negotiating. We are waiting for talks to conclude," Commerce Secretary Sunil Barthwal said.
BUSINESS
More than half of major Indian states are facing higher rural inflation vs urban
Odisha saw the highest combined retail inflation rate for February 2024 at 7.55 percent, followed by Telangana and Haryana. While, at 2.42 percent, India’s capital Delhi witnessed the least amount of price pressures among the major states and union territories.
BUSINESS
Modi, Sunak reaffirms commitment to conclude India-UK FTA talks at the earliest
India's commerce ministry on February 15 said that majority of the chapters in the India-UK FTA are either closed or are at advanced stages of negotiations
BUSINESS
India-EFTA trade deal may take at least a year to get implemented: Official
The delay is likely to be on account of the referendum that Switzerland may conduct, with its people voting on whether to clear the India-EFTA deal. The deal, which was first proposed in 2008, was finally signed on March 10, after 21 rounds of negotiations
INDIA
Breaking down EFTA's $100-billion investment promise to India
The fine print of the trade pact shows that India may take remedial measures to rebalance the concessions given to the EFTA states if the pace of the FDI flowing in is not in line with the commitment made.
INDIA
Swiss watches, chocolates set to get cheaper for Indians
As part of the trade deal with EFTA, India will reduce basic customs duties on chocolates and on wrist as well as pocket watches originating from Switzerland. The levy will be brought down to zero in equal instalments over a seven-year period.
BUSINESS
India, EFTA ink trade deal with investment promise of $100 billion
This comes as a win for the Indian government that was looking to push through a trade deal before the general elections between April and May 2024.
BUSINESS
Amid global trade disruptions, India extends export incentives to firms in SEZs
Keeping budgetary allocation in view, the extension of RODTEP to these additional sectors is presently applicable till September 30, 2024 30.09.2024. This move is expected to benefit sectors, including engineering, textiles, chemicals, pharmaceuticals and food processing.
BUSINESS
India, Oman FTA talks may not conclude before election dates are announced: Official
With talks on the India-Oman Comprehensive Economic Partnership Agreement (CEPA) largely closed, authorities were aiming to sign the deal before the Lok Sabha scheduled for April-May 2024.
BUSINESS
From Kaizen to Make in India: A look at India-Japan ties amid Jaishankar's tour
During Jaishankar's visit to Japan, discussions with his counterpart Yoko Kamikawa will include areas pertaining to defence, semiconductor supply chains, clean energy, and high-speed rail, among others.
BUSINESS
India-UK FTA talks unlikely to conclude before Lok Sabha polls: Official
A British delegation is currently in New Delhi to meet commerce ministry officials as both sides aim to resolve difference over key aspects of the proposed FTA in an attempt to close talks before elections in India, scheduled in April-May 2024.
BUSINESS
Direct benefit transfer: Fertilisers, food account for more than half of payouts this fiscal
Until March 2022, DBT has resulted in a total savings of Rs 1.35 lakh crore in food subsidies, with 42 million duplicate or non-existent beneficiaries weeded out. DBT removed 41 million fake LPG connections. 10.8 million families who have opted to ‘give up’ LPG subsidies.
INDIA
India's population panel may focus on arresting fast ageing, extending demographic dividend
The population committee may also look at fertility patterns across states to target incentives to those areas that exhibit a lower rate of child birth. Uneven fertility rates across the country also mean uneven demographic dividends.
BUSINESS
WTO’s failure to reach consensus on farm, fisheries may be a win for India
While certain WTO members have expressed concerns over India's MSP scheme for key agricultural products, and export restrictions on commodities such as rice, New Delhi maintains that the country has to protect the interests of the poor and vulnerable farmers, and take care of its domestic food security needs.
