Policy

India staying out of major climate pledges at COP26: Officials argue varied reasons

While India has been one of the earliest and key signatories of multiple global environmental agreements, it has given a wide berth to three major initiatives. Officials tell Moneycontrol why that's been the case.

Services sector PMI in October shoots up to 58.4, activity rises by fastest pace in a decade

Continued growth ensured new jobs were created in the service sector for the third-straight month. This is expected to ease the pain of workers and professionals in the sector since it had seen nine continuous months of job losses earlier in the year.

RBI committee releases suggestions to streamline functioning of ARCs

The suggestions include the creation of online platform for the sale of stressed assets and permitting ARCs to act as resolution applicants during the insolvency and bankruptcy process.

COP26 Summit: Experts laud India's target to go Net Zero by 2070 but remain unsure on how it will be met

Surprising many, Prime Minister Narendra Modi announced that India will reach the target of net zero carbon emissions in the next 50 years.

INTERVIEW | Ulka Kelkar: At COP26, India in unique position with much at stake

In an exclusive interview, Ulka Kelkar - Director-Climate, World Resources Institute India - takes Moneycontrol through the opportunities, challenges and responsibilities that make for India's unique position as it enters the 26th edition of the Conference of Parties (COP26).

October GST collections Rs 1.30 lakh crore, second highest in 2021

The October GST print takes total gross GST collection for the year to Rs 8.12 lakh crore. All but one month in the current fiscal year (June, Rs 92,849 crore) have been comfortably above the Rs 1 lakh crore mark.

India's manufacturing PMI rises to 55.9 in October

India’s manufacturing PMI stood at 55.9 in October, up from 53.7 in September and 52.3 in August.

Eight core industries' output rose 4.4% YoY in September, data show

The cumulative output of the core sector industries in the first nine months of FY22 has risen by 16.6 percent, as compared to a 14.5 percent fall in the same period of the previous financial year.

Govt reconstitutes Economic Advisory Council to PM, Rakesh Mohan inducted

Former Reserve Bank of India deputy governor Rakesh Mohan has been inducted into the seven-member body, along with TT Ram Mohan of the Indian Institute of Management, and Poonam Gupta, who heads the National Council of Applied Economic Research.

India and US may hold trade policy forum later this week

The Trade Policy Forum has not been held since 2017 after a series of trade tiffs with the previous Trump administration had thrown a spanner in the works.

Finmin begins hunt for next Chief Economic Advisor

A doctorate in economics or finance is desirable but not essential (a master's degree is essential), and the age limit is 56 years.

The EU may finally be ready for an independent investment deal with India

Until now, the EU had insisted that a bilateral investment pact with India would only be discussed in tandem with a proposed free trade agreement, a rider that had complicated the negotiating process for both treaties.

FinMin frets over extra expenditure as budget preparations begin

While the finance ministry is happy with strong tax collections on the back of a sustained economic recovery, the worry is that Covid-19 relief measures of the past six and a half months could take the fiscal deficit to 7.7 percent of GDP compared with a target of 6.8 percent.

India to discuss proposals for vaccine patent waiver, global trade issues during WTO chief’s visit

India will be laying out its final proposals on major global issues, currently being discussed at the WTO. The visit gains significance as it comes a month before trade ministers of WTO member-nations converge for the 12th Ministerial Conference in Geneva.

September exports rise 22.6% YoY led by strong global orders

Official statistics show exports of all major revenue earners such as engineering goods, petroleum, gems and jewellery, continued rising in September.

September wholesale price inflation eases further to 10.66%

Wholesale price rise had begun to cool over the past 2 months in tandem with slowing inflation in fuel prices, which stood at 24.8 percent during the month. This was lower than August's 26 percent.

PM Modi launches GatiShakti master plan for national infrastructure development

PM GatiShakti is a National Master Plan for multi-modal connectivity to economic zones, a digital platform which will bring 16 ministries including rail and roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects.

August IIP holds firm at 11.9% as low base effect wears off

Industrial production had almost caught up with pre-pandemic levels by July. In August, this expanded significantly. In August, 2019, production had contracted by 7.3 percent.

September retail inflation at 4.35%, lowest since April

CPI inflation has been well within the Monetary Policy Committee's inflation targeting range of 4 (+/-2) percent since December 2020, except the months of May and June 2021, when it crossed the 6 percent mark.

Piyush Goyal to address G20 Trade Ministers Summit in Italy on October 12, holds bilateral meetings

India's engagements and policy push at the summit are guided by the government's aims to reach $400 billion worth of exports in FY22, the Commerce Ministry has said.

Coal crisis | Amit Shah holds hour-long meeting with power, coal ministers

The ministers have reviewed the availability of coal to power plants and the power demand in the coming weeks.

Covid Vaccination: 10 states/UTs cover entire populace with 1st dose

India administers 92.6 crore vaccines till October 6 and, with a 91 percent rise in inoculation, most states have first dose given to over 60 percent people

Govt begins process of selecting next CEA; Sanyal may take lead in drafting next Economic Survey

Subramanian, who announced on October 8 that he will not seek an extension, will go back to Indian School of Business, Hyderabad. It is also learnt that for now at least, he has no plans to write a book about his time in the Finance Ministry, unlike his predecessor Arvind Subramanian.

S Jaishankar pushes for firmer ties with ASEAN to seize post-Covid prospects

The external affairs minister said the pandemic has given an impetus of the diversification of the global value chain, that was already in the process.