India's central bank says 93% of 2,000-rupee notes returned since May
The total value of 2,000-rupee notes in circulation was down to 3.56 trillion rupees as of May 19, from 3.62 trillion rupees as on March 31 – the end of the last fiscal year – the central bank said in a statement.
Fiscal deficit touches 33.9% of full-year target at end-July: CGA data
The deficit stood at 20.5 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government projected to bring down the fiscal deficit to 5.9 per cent of the gross domestic product (GDP) in the current 2023-24 financial year.
Food inflation still a concern; uncertainty due to shortfall of monsoon: Nestle India CMD Suresh Narayanan
With this El Nino impact not fully played out, we still have to watch for the spectre of food inflation, he said. "There will be pressure in terms of food inflation. Headline inflation will get mitigated because of various steps that the government will take but food inflation is still a cause for concern," Narayanan said.
RBI governor-headed FSDC-SC resolves to remain vigilant against external vulnerabilities
The Reserve Bank of India reviewed the functioning of State Level Coordination Committees (SLCCs) in various states/UTs.
RBI Guv asks NBFCs to strengthen governance standards
Acknowledging the important role played by the sector in delivering credit to the unbanked and underserved areas, Das advised that NBFCs and HFCs need to remain alert to avoid any complacency during good times.
India to get USD 25 million grant from G20 Pandemic Fund for strengthening animal health system
The fund that was established under Indonesia's G20 Presidency is targeted at low-to middle-income countries to finance efforts like surveillance, research, and better access to vaccines, among others measures.
Bullish on India: India has most ingredients necessary for growth, says former DEA Secy R Gopalan
With its sheer size of market, impressive GDP growth and large middle class, India presents a compelling case for long-term growth prospects
G20 Summit: Delhi’s hotel occupancy expected to be at a decadal high of 70-72%
Delhi G20: Capital’s most premium hotels including Taj Mahal, Taj Palace, ITC Maurya Sheraton, Le Meridien, Shangri-La, The Lalit, Imperial, Oberoi, and Leela have already closed availability for almost all dates between September 6-11.
MC Interview: Growth in small savings significantly high, on track to meet Rs 4.71 lakh crore target, says Fin Secy
TV Somanathan also said that NSSF inflows will not be impacted even if many people shift to the new direct tax regime
After tomato, onion prices set for eye-watering rise
A dip in onion acreage coupled with low carryover stocks from the rabi season has put onion prices on a rising trajectory, with prices hitting Rs 2,500 a quintal at Pimpalgaon and Lasalgoan, Asia’s largest onion market
IMD working to sharpen forecast tools in view of changing weather patterns
India’s weather pattern has seen a swift change, with the monsoon bringing in heavy rain followed by spells of dry weather, says DS Pai, Head of the IMD’s Environment Monitoring and Research Centre.
Sri Lanka records single-digit inflation for the first time since economic crisis: Official data
The island nation faced its worst economic crisis in history due to a shortage of foreign exchange reserves. An imperative in the IMF bailout is to restructure external debt, which needs to be completed by September.
Rice sown area widens 2.69% days after ban on exports amid erratic rainfall
The sown area for rice had remained low by 6.1 percent till July 17.
Tomato to get even costlier in weeks ahead; relief only by September
Unseasonal rains, the resulting disruption in transportation and supply chains have affected the prices of a number of vegetables. Tomato prices are expected to touch Rs 300 a kg, but the government’s July 12 directive might provide some respite.
Defence Minister holds talks with Malaysian counterpart; focus on boosting industrial cooperation
Singh, who is currently on a three-day visit to Malaysia, also called on Prime Minister Anwar bin Ibrahim and conveyed to him PM Narendra Modi’s warm greetings.
Strategic investment targets initiative: DPIIT identifies 106 companies across sectors from 30 countries
Total FDI inflows, which include equity inflows, re-invested earnings and other capital, declined by 16 percent to $70.97 billion in the last fiscal as against $84.83 billion in 2021-22.
India says it will continue to support Sri Lanka in overcoming financial crisis
Jacob said India’s financial and humanitarian support worth $4 billion to Sri Lanka is far in excess of the total anticipated Extended Fund Facility of the IMF.
No respite, retail tomato price further shoots up to Rs 162/kg
In Gurugram, retail tomato price was ruling at Rs 140 per kg, at Rs 110 per kg in Bengaluru, Rs 107 per kg in Varanasi, Rs 98 per kg in Hyderabad and Rs 90 in Bhopal on Thursday.
Oil companies to turn profitable on fuel marketing in FY24: Fitch
The rating agency expects India’s petroleum product demand to grow by mid-single digit percentage in the medium term, supported by forecast that the GDP will grow by 6-7 per cent in the next few years, the government’s increasing spending on infrastructure and a pick-up in industrial activity.
Unregistered sellers can make intra-state supply to Amazon, Flipkart from Oct 1, says CBIC
Blueprint for appellate tribunal likely to be approved at July 11 GST Council meet
Kashmir new cash crop mushroom brings good news for its women
More than 150 women in #Kashmir associated with mushroom farming, which is preferred by women because they can grow it at home while doing house chores and earn a good income.
Piyush Goyal asks bankers to ensure enhanced, affordable credit to MSME exporters
This was stated in a meeting called by the ministry on June 28 to discuss ways of enhancing the availability of export credit to MSME exporters.
Domestic tour operators welcome govt move to defer hike in TCS on overseas packages
In a statement, Indian Association of Tour Operators (IATO) — the apex body of tour operators in the country with more than 1,700 members — thanked the government for ”giving partial relief of deferring Tax Collection at Source (TCS) on the overseas tour packages till September 30, 2023, and also for withdrawing increase of TCS percentage from 5 per cent to 20 per cent on amount up to Rs 7 lakh per annum”.
Average health insurance claims in India Rs 42,000; 15% exceed Rs 1 lakh: Report
This highlights the need for policyholders and insurance providers to consider potential high-cost scenarios, such as hospitalizations exceeding five days and costing over Rs 5 lakh, when designing coverage options
