India, Russia mull direct rupee-ruble FX rate to boost bilateral trade
The idea involves avoiding pegging the exchange rate with the dollar or any other third currency. However, the official says that in order to establish a direct FX rate, the rupee and ruble would need to trade in the same currency exchange platform for a much larger quantity and for a longer duration while the two sides workout a mutual referencing price.
Low July inflation entirely due to base effect, month-on-month inflation has gone up
The rise in month-on-month retail inflation from 1.33 percent in June to 1.42 percent in July is mainly due to the rise in mobile telephony charges
Is there any taker for Muhammad Yunus's novel tip on global peace?
India can consider the creation of a separate ministry to promote regional peace and thereby enhance its global heft
AAP MP Raghav Chadha Criticizes Finance Minister's Decisions Amid Inflation Concerns
AAP Rajya Sabha MP Raghav Chadha questions the Finance Minister's decisions amidst rising inflation, urging for comprehensive indexation on all assets. He criticizes the current partial implementation, likening the removal of indexation for Indian investors to breaking their backbone. Chadha supports Nitin Gadkari's letter to the Finance Minister, demanding the removal of the 18% GST on life and health insurance. He highlights the need for knowledgeable economic planning to avoid frequent policy reversals. Watch for a detailed critique of the government's economic policies.
#raghavchadha #financebill2024 #nirmalasitharaman #aapvsbjp
FM slams opposition for recent fuel tax hikes in their states
Sitharaman said that opposition parties should administer cuts in taxes on fuel in states governed by them before lecturing the central government.
India bats for lower tariff, non-tariff barriers globally to spur trade between nations
The DPIIT secretary further said that now there is a global recognition that one factory for the whole world is not enough. Singh is referring to the China plus one strategy wherein the world, especially developed nations are looking to diversify their supply chains beyond Beijing by tapping newer markets.
Does India need China to build on the Bangladesh textile opportunity?
Given that Bangladesh plays a crucial role in the western world’s China plus one strategy, Indian garment markers could get an immediate benefit of the turmoil in the neighbouring country. However, textile manufacturers and associations say there are challenges around local manufacturing capacity and pricing given Dhaka's reliance on cheaper imports from Beijing.
Chart of the Day | India’s Buffett indicator has been flashing warning signals
India’s market capitalisation grew by fastest pace among major countries across the world in the last one year
What to be greedy about amid the heightened fear in markets?
Once the Fed starts cutting rates, there’s a high possibility that discretionary spending by enterprises will resume, brightening the outlook for IT service players
India may consider including long-tenure bonds in FAR if foreign portfolio investment picks up
The decision to exclude longer-tenure bonds came at a time when most foreign investments have been concentrated in bonds with tenures of 10 years or less.
Where’s the competitive spirit in India’s duty drill?
The World Tariff Profiles 2024 indicate that it’s high time for the country to shun the preference for protectionism
Centre may reject bids in green bond auctions over low greenium
In 2024-25, the proposed fund requirement for green projects from green bond proceeds has been pegged at Rs 32,061 crore. However, the actual amount to be raised is likely to be around Rs 20,000 crore
Goyal pulls up industry for apathy towards govt's efforts to promote make-in-India
Piyush Goyal further pointed out the low levels of participation from the industry to help improve policies around Ease of Doing Business (EODB) and National Single-window System (NSWS). The minister also asked industry to step up on ideas to help reduce the compliance burden of businesses.
How to make a just transition in energy mix?
The aspiration of becoming a developed nation makes it imperative that the churn in energy mix balances the social and economic needs of all sections of society
RBI excludes new securities in 14-year and 30-year tenor from ‘Fully Accessible Route’
Investments by Foreign Portfolio Investors in 14-year and 30-year tenor bonds shall now be under the investment limits prescribed by the Reserve Bank.
"Not in a hurry to shut that shop", FM backs the capex push till recovery is complete
"The higher public spending wasn't just a post-Covid recovery thought. Will continue with the capex," FM Sitharaman said at the Open House.
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.
Revenue secretary rules out a rethink on LTCG as 'marginal' hike in levy is justified
"This LTCG increase will impact only the people with higher income as per our study,” Sanjay Malhotra told Moneycontrol in an interview.
Budget’24 hinted Centre may not continue to carry burden of infra investments, states must get finances in order: L&T CFO
L&T CFO said that while multilateral funding is available, projects need credibility. The private sector will invest if the conditions for growth are enabling, with necessary policies, clearances, and joint commitments in place.
Govt allocates Rs 10,000 crore for a stabilisation fund in Budget
The Budget allocated a whopping Rs 10,000 cr for interventions and monitoring of prices of essential commodities-anticipating high food inflation
Budget brings Kisan at centre stage with Rs 1.52 lakh crore agri allocation
Modi 3.0 increased allocation for agriculture and allied activities from Rs140533 in 2023-24 to Rs 1.52 lakh cr .
Budget takes the jobs challenge head-on, companies can use CSR funds to hire interns
CSR funds for interns, one-time DBT salary benefit for newcomers and loan finance are among incentives announced by FM
India can become global wind energy manufacturing hub if Budget 2024 provides incentives: Suzlon CEO
In order to develop the offshore wind energy space, a PLI of Rs 20,000 crore is required for Indian OEMs with in-house R&D, said JP Chalasani.
Agricultural sector likely to perform better in FY25: CEA
The Indian Meteorological Department had forecast that India is set to receive above-normal monsoon rains this year. The monsoon is, however, not progressing as the IMD predicted before the monsoon season began.
FY25 GDP growth estimate at 6.5-7% is prudent, not pessimistic: CEA
We would rather be pleasantly surprised than be forced to face disappointment which is why we are projecting a GDP growth rate of 6.5-7 percent, said the CEA.
