Economy

Centre has total divestment potential of Rs 11.5 lakh crore at current valuations: CareEdge Report

According to the report, about Rs 5 lakh crore worth of divestments can come from Central Public Sector Enterprises (CPSEs), while public sector banks and insurance firms could add another Rs 6.5 trillion. The total estimate is the maximum the government can achieve without losing its control over these firms, the report said

India credit seen benefiting from index-related bond flows

With an estimated $3 billion of inflows a month into government bonds alone, the accession has the potential also to lower the cost of capital for companies

India must move fast to make data readily and easily available to end-users: National Statistical Commission chairman RL Karandikar

National Statistical chairman pitches for faster availability of data to users, flags the issue of government lagging behind private companies.

Fruity affair! India exports 'golden ripe' variety of pineapples to UAE

The first trial shipment, which comprised of 8.7 metric tons (650 boxes) of the prized MD 2 pineapples, marks the substantial addition to APEDA’s export basket, boosting the country’s presence in the global markets.

Shipping Corp strategic sale may proceed without further delay: Govt official

The Maharashtra cabinet has already given a stamp duty exemption. The SCI building in Maharashtra is now with its demerged entity, Shipping corporation of India Land and Assets Limited.

Windfall tax on crude slashed to Rs 5,200 pmt; LPG cylinder prices cut to Rs 1,676

Previously, on May 16, the government had reduced the windfall tax on petroleum crude from 8,400 rupees to 5,700 rupees per metric ton.

Govt likely to shift CPI, IIP base year to 2022-23: Official

"2022-23 was a normal year. For CPI, IIP the base year needs to be changed. So 2022-23 will likely be the base year. The base year revision will happen within two years by FY27."

Met coal imports from Russia jump nearly three-fold in last 3 fiscals

Russia's share in India's metallurgical coal imports of 73.2 million tonnes (MT) has risen to around 21 percent from around 8 percent in 2021-22, research firm Big Mint said.

Expert panel recommends criteria for entry into GIFT City, regulations for financial service companies

As a primary safeguard, the committee recommends that entities set up in IFSC to carry out bookkeeping, accounting, taxation, and financial crime compliance services should only be in the form of a company or a Limited Liability Partnership. The committee feels regulations are required to prevent companies from simply reorganise existing businesses in the guise of new investment.

Cabinet nod to food safety trade agreement with Bhutan

The Bhutan Food and Drug Authority will issue a health certificate as a proof of compliance with FSSAI's requirements while exporting products to India

Martin Wolf: The future of ‘communist capitalism’ in China

The question of whether Xi-ism is killing Deng-ism is growing

India asks state refiners to pay for some oil imports in rupees

The move is aimed at promoting the Indian currency in international trade and cutting dependence on dollars, said the executives, who asked not to be named due to the sensitivity of the matter.

India has eliminated extreme poverty: Surjit Bhalla and Karan Bhasin, for Brookings

Bhalla and Bhasin note that it took 30 years for India to witness a similar decline in poverty levels, which has now been witnessed over 11 years.

South Korea hoping to conclude FTA talks with India before possible state visit in 2024

Officials from India and South Korea met earlier this year in January for the 10th round of official negotiations to upgrade the bilateral Comprehensive Economic Partnership Agreement, or CEPA.

Quick take| What is the message from RBI Governor Shaktikanta Das?

The monetary policy committee (MPC) is walking a cautious path on inflation. The panel isn’t yet ready to lower the guard early and lose the hard-earned gains in the prolonged inflation fight.

Sri Lanka achieved progress in economic recovery as people backed difficult programme: President Wickremesinghe

Despite setbacks, President Ranil Wickremesinghe stated on Sunday that Sri Lanka has made progress in its economic recovery process because of the people's unwavering support for a comprehensive, long-term national rebuilding strategy.

Sitharaman's message to ratings agencies: Govt bettering fiscal consolidation roadmap

According to Christian de Guzman of Moody's, while the interim Budget firmly conveyed India's commitment to its fiscal consolidation, the government's ability to meet its targets could be restricted due to a variety of factors

Infrastructure sector gets no big bang announcements from Union Budget but support continues

Interim Budget 2024 has increased capex for 2024-25 by 11 percent to Rs 11.11 lakh crore, which, though lower than the 15 percent hike expected by many from the industry, is still significant and will spur infrastructure growth.

MC Graphixstory: Narrowing current account deficit to bolster economy, reduce pressure on rupee

India typically runs a current account deficit as it is a developing economy that relies on imports of several commodities like crude oil.

Budget 2024 | Focus on fiscal consolidation must to regain pre-pandemic strength

Given that it is a vote-on-account, will the budget attempt any major reforms or path-breaking initiatives? Or, will this be what I call the “keep in cruise mode” effort?

Economic climate encouraging; 7.3% GDP growth estimate very positive: SBI chairman

Speaking to PTI on the sidelines of the biennial Vibrant Gujarat Global Summit here, Khara said the overall economic climate is "very encouraging" at present.

RBI MPC members vow to take battle against inflation ahead

India's headline retail inflation rate surged to 5.55 percent in November due to the combination of an unfavourable base effect and a rise in prices of key food items

ICRA revises upwards FY24 GDP growth forecast to 6.5%

The revision is being done because Icra feels the deflation in commodity prices will be sustained and there are expectation of better growth in the October-December period

US homelessness up 12% to highest reported level as rents soar and coronavirus pandemic aid lapses

The U.S. had been making steady progress until recent years in reducing the homeless population as the government focused particularly on increasing investments to get veterans into housing.