Solicitor General backs NFRA’s authority to issue audit Standards on quality management
The legal opinion says that ICAI Act, 1949, does not provide Institute of Chartered Accountants of India with the authority to issue standards related to auditing or quality management
MC Poll | Indian economy likely slowed to a 6-quarter low of 6.5% in Q2 this fiscal
The 10 forecasters in the November Moneycontrol poll predicted the economy would grow 6.8 percent in FY25, with forecasts ranging from 6.6 percent to 7 percent
Bribery charges against Gautam Adani credit negative for Adani Group: Moody’s Ratings
'Our main focus when assessing Adani Group is on the ability of the group’s companies to access capital to meet their liquidity requirements and on its governance practices,' says the rating agency.
Steelmakers make new push for temporary tax to check cheap imports
India, the world's second-biggest crude steel producer, became a net importer of the alloy in the fiscal year to March 31, 2024 and the trend has continued since
Govt pushes back on key RBI proposals fearing hit to credit growth
Large parts of Asia's third-largest economy rely on bank financing with lenders' credit growing at nearly 14% over the past year
Reserve Bank's rosy India growth forecast baffles economists
The central bank has stuck to its forecast that India’s economy will expand 7.2% in the year ending March 2025
India's forex reserves drop $2.16 billion to $688.26 billion
In the previous reporting week, the overall kitty had dropped by $10.746 billion to $690.43 billion in one of the largest declines in the reserves in recent times
93% manufacturers keen on sustainability standards to boost exports, revenue: PwC survey
52 percent of executives are prioritising investments in automation for repetitive and mundane tasks to allow employees to focus on high-value work
Thaw in China ties unlikely to deter India's plans for steel tariffs: Report
Mills in the world's second-biggest producer of crude steel have been battling an influx of cheap imports, particularly those from China, which touched a seven-year high during the period from April to August
IDBI Bank strategic sale to proceed without delays with RBI’s advance nod; due diligence in Nov
The IDBI Bank strategic sale criteria was prepared in consultation with the RBI. The RBI has done due diligence of all bidders. A priori approval was sought to avoid complications later on as a double check.
US continues to be the engine of global growth in IMF forecast for world economy
The IMF forecast that the global output will expand 3.2 percent, 0.1 percentage point slower than its July estimate, and predicted that inflation will slow down to 4.3 percent next year from 5.8 percent in 2024
India to lead global discourse while maintaining neutrality in foreign affairs, says FM Sitharaman
"A picture is today emerging of India with its affiliations to several blocs, keeping its neutral, non-aligned position."
India's growth story intact: RBI Bulletin estimates 7.2% GDP for 2024-25
The Bulletin further pointed to the government's emphasis on capital expenditure and healthy corporate and bank balance sheets as positive factors bolstering investment activity
India's coal-fired monthly power output slips consecutively for the first time since pandemic
Electricity use in India has been rising since the pandemic due to a surging economy as well as heatwaves. However, higher rainfall during this year’s monsoon reduced air-conditioning demand and weighed on power consumption, analysts say.
Resilient Indian economy needs no urgent action on crude price rally, says govt official
Brent crude hovered on $78 a barrel in early trade on October 4, clocking its biggest one-day rise in almost a year
Government committed to reducing fiscal deficit to 4.9% by FY25: FM Sitharaman
The finance minister emphasised that reducing the fiscal deficit from 5.6 percent of GDP in FY24 to 4.9 percent in FY25 will "not only keep the bond yields in check but also manage borrowing costs"
India’s current account deficit widens to 1.1% at $9.7 billion in Q1FY25
Merchandise imports at $176 billion were higher than $111 billion in exports in the first quarter of the fiscal, as exports had contracted compared with the previous year
RBI DG Swaminathan asks SFBs to be vigilant, proactive to mitigate risks
The event themed ’Governance in SFBs – Driving Sustainable Growth and Stability’ is part of a series of supervisory engagements that the Reserve Bank has been organising with the Directors of its Supervised Entities in the recent past, it said
Economists advise Centre to improve inflation data
More than 50 economists met with key government officials in Mumbai this week, and suggested that frequent household consumption surveys should be conducted for more up-to-date revisions of the consumer price index, the statistics ministry said in a statement Wednesday
Centre to sell onions from reserves to check prices, says official
Earlier this month, the government had removed a floor price on onion exports after a spate of export curbs on farm goods fuelled anger among farmers
'No reply' to surveys jumps 100% in 5 years. Gated, urban communities more averse to respond
Non-response rate is higher for detailed surveys like Household Consumption Expenditure Survey, which are instrumental in determining consumer inflation and GDP statistics
Stats ministry working on reforms to make data and surveys more robust, says Saurabh Garg
The statistics ministry is dividing surveys into several parts to avoid fatigue, relying on the use of technology, says the secretary
Ayushman Bharat scheme's expansion not enough. Quality & choice of care also important
At 1 percent of GDP, India spends among the least on healthcare. Ayushman Bharat is well-intentioned, but it needs to evolve to provide people with quality — and not cheap — healthcare.
SC order on mineral royalty to states ignores macro impact, may drive up prices: Centre
The petition also claimed that different state taxes would ‘drive up’ the prices and increase export dependence, the report said, adding that several critical infrastructure sectors are dependent on minerals across the states
