Mixed reaction to RBI article warning signs of stress due to high debt in several states
Referring to the economic crisis in Sri Lanka, the RBI article prepared by a team of economist under the guidance of Deputy Governor Michael Debabrata Patra had on Thursday stated that the five most indebted states — Punjab, Rajasthan, Bihar, Kerala and West Bengal — need to take corrective measures by cutting down expenditure on non-merit goods.
Sri Lankan economy grinds to a halt as fuel supplies run dry
Thousands of vehicles were lined up in queues stretching for kilometers as drivers waited for filling stations to be replenished with fuel supplies
India, EU trade pact to help unleash significant untapped potential: Goyal
Brussels, Jun 18 With India and the European Union (EU) formally resuming negotiations for proposed agreements on trade, investments and geographic..
Will go on strike if Electricity (Amendment) Bill is passed without consultation: AIPEF
Union Power Minister R K Singh on Thursday said the Bill, which aims at enabling consumers to choose between multiple service providers just like in case of telecom services, is likely to be introduced and pushed for passage in the monsoon session of Parliament beginning July.
WTO Summit | Through leadership and dissent, India attains centre stage at MC 12
India was a major component of the talks on almost all tricky issues during the four-day WTO ministerial conference, which had to be extended by two days to bridge differences among member-nations.
India could cap sugar exports to augment local stocks: Sources
Any curbs on exports by the world’s second biggest sugar exporter could lift global sugar prices that have been supported by lower output in top producer Brazil and firm crude oil prices, which encourages mills to produce more sugarcane-based ethanol.
Cooking oils to get cheaper by next week as brands cut MRPs by up to Rs 20 a litre
Cooking oil prices are set to come down with brands slashing the maximum retail prices of sunflower, soybean, mustard, and palm oil. The price cuts come from international prices cooling a bit and on the back of government interventions to ease domestic prices.
Is Agnipath the magic bullet for the armed forces?
In its hurry to address the growing pension outgo problem, has the Ministry of Defence war-gamed Agnipath adequately?
Indian economy on path to recovery despite global headwinds, says RBI
”Domestic economic activity has been gaining traction in spite of formidable headwinds from external developments,” the Reserve Bank of India said in its monthly bulletin published on Thursday.
Agnipath: Fiscal relief to help boost capital expenditure
The initiative is being sold as an opportunity for young Indians to get acquainted with the military ethos, but Agnipath may actually help ease the strain on the exchequer.
India’s GST Council to meet on June 28-29 in Srinagar
The meeting comes days ahead of the five-year anniversary of launch of the indirect tax regime. The GST was launched in July 1, 2017 after decades-long delay.
Govt aims to build 40 million tonne coal stock at power plants to ensure supplies during monsoon
Union power minister R K Singh said right now, there are reserves of around 22.9 MT at the power plants. Speaking to PTI, the minister said right now, there are reserves of around 22.9 MT at the power plants.
India trying to build consensus over vaccine patent waiver, resists agri talks as WTO summit enters last day: Officials
But as member nations struggle to compromise on almost all key issues, the 12th biennial summit of the World Trade Organization (WTO) has been extended by a day to Thursday.
WTO Summit extended by a day as consensus eludes nations on all issues
WTO Director-General Ngozi Okonjo-Iweala called on member nations to go the extra mile to find convergence on the various issues at stake at the 12th Ministerial Conference (MC12) and to be mindful that time is running out to conclude meaningful agreements.
Growth of 7–7.5% this year not bad, inflation could persist: EAC-PM chairman
It would be unrealistic to expect real GDP growth rates of 9 percent unless exports pick up substantially, which could be an issue as the external demand situation is not as rosy as it might have been, Bibek Debroy said.
India's overall exports in May surged 24% to $62.21 billion
The estimated value of services export for May 2022 is $23.28 billion
WTO Summit | Developed nations industrial fishing fleets should be held responsible for overfishing: Commerce Minister
India has pushed for a stronger global agreement to battle overfishing based on the principles of 'common but differentiated responsibility and 'polluter pays' whereby developed nations that have exploited the most oceanic resources being held responsible for marine ecosystem collapse and cutting back subsidies more.
Soft May inflation print unlikely to alter rate hike path
The country's rate-setting panel is widely expected to raise the policy rate to as much as 5.5-to-6 percent in the current rate hike cycle. Policy action after that could be data dependent.
Israel, India prepare to resume free trade agreement talks
”We share similar challenges in a wide range of fields, from agriculture, climate and water to homeland security, fintech and cyber,” Israeli Economy Minister Orna Barbivai said in a statement.
Blocking subsidy to India's fishermen to affect millions of fishers, their families
Developed members of the World Trade Organization (WTO) are pushing to eliminate subsidies under the proposed fisheries subsidies agreement, which is under negotiation here.
India's power demand jumps by 45,000 Megawatt in a year; ensuring 23 to 23.5 hour supplies: Minister
A massive addition in the generation capacity, integrating the country into one transmission grid and strengthening of the distribution system during eight years of the Modi government is ensuring the 23 to 23.5 hours of electricity supply, he said in an interview with PTI.
Goal of USD 5 trillion GDP appears to be case of 'shifting goalposts': P Chidambaram
Speaking at the finance ministry’s iconic week celebrations of ’Azadi ka Amrit Mahotsav’, Nageswaran had said last week that IMF has forecast the Indian economy to cross USD 5 trillion by 2026-27. India’s Gross domestic product (GDP) in dollar terms has already crossed USD 3 trillion.
SBI chairman bullish on economic recovery as loan demand rebounds
Companies are steadily drawing down from a $71-billion loan pipeline, Dinesh Kumar Khara, chairman of State Bank of India, says. Loan growth at the 216-year-old lender is expected to be robust, underpinned by demand from businesses after two straight years of credit contraction
Soaring US inflation fuels bets on sharper Fed rate hikes
Most economists still expect a half-point hike next week, and more of the same at subsequent meetings through at least September if not further
