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Updated: 2 hours 46 min ago

Govt collects Rs 27k cr in taxes from sr citizens on FD interest: SBI

Mon, 04/15/2024 - 13:27
According to the report by SBI researchers, the total amount of deposits has risen by 143 per cent in the last five years to Rs 34 lakh crore at the end of FY24 from Rs 14 lakh crore

India may remain poor even after becoming 3rd largest economy: Ex-RBI chief

Mon, 04/15/2024 - 12:19
Even after becoming the third largest economy in the world by 2029 as envisaged by Prime Minister Narendra Modi, India may still be a poor country and therefore there is no reason for celebration, former Reserve Bank Governor D Subbarao said here on Monday. Addressing a gathering at a book launch programme, Subbarao also said, citing Saudi Arabia, that becoming a rich country does not necessarily mean becoming a developed nation. Recalling PM Modi saying that if he returns to office, India will become the third-largest economy before 2029 -- before the end of his third term, he said many economists predict that the country would become the third largest after the US and China, much sooner. In my view, that is possible (India becoming the third-largest economy), but it's not a celebration. Why? We are a large economy because we are 1.40 billion people. And people are a factor of production. So we are a large economy because we have people. But we are still a poor country, Subbarao ..

Rupee settles at record closing low amidst escalating tensions in West Asia

Mon, 04/15/2024 - 12:06
However, Indian rupee on Monday performed better than the majority of the Asian currencies

India's exports shrink 3% in FY24 but tide is turning, says govt

Mon, 04/15/2024 - 12:04
India's trade deficit at 11-month low in March

UCB advances to priority sector up over 27% in FY23, shows RBI data

Mon, 04/15/2024 - 11:56
A majority of the advances of UCBs was given to MSMEs (micro, small & medium enterprises), amounting to Rs 1.3 trillion in FY23 against Rs 1 trillion in FY22

Wholesale price inflation rises to three-month high of 0.53% in March

Mon, 04/15/2024 - 11:41
The overall FY24 wholesale headline inflation stood at -0.7 per cent as compared to 9.6 per cent in FY23

Some states saw higher inflation than national average, shows data

Mon, 04/15/2024 - 10:59
Some had higher inflation every month of the year

Engineering exports edge up to $109 bn despite geo-political tensions

Mon, 04/15/2024 - 09:53
India's engineering exports edged up to USD 109 billion in 2023-24 despite a slowdown in some of the major global markets amid geo-political tensions, EEPC said on Monday. India's engineering exports are competitive globally and expected to gain further market share in the coming years, with the country entering into more FTAs, it added. The apex body of engineering goods exporters expects the value of shipments from the sector to rise to USD 300 billion by 2030 and generate a significant number of jobs and foreign exchange earnings in the process. Notably, the engineering sector is the largest contributor to India's overall exports, with a share of 24 per cent, and also contributes approximately 40 per cent of the country's total manufacturing exports. "The engineering goods exports in FY24 surpassed the previous year's numbers despite a slowdown in some of the key global markets, geo-political tensions, Red Sea crisis and high freight rates," said EEPC India Chairman Arun Kumar .

Merchandise trade deficit in March stands at $15.6 billion, shows data

Mon, 04/15/2024 - 06:07
According to commerce ministry data released on Monday, the imports during 2023-24 stood at 677.24 billion, down 5.41 per cent from $715.97 billion in the preceding year

Wholesale prices rise in March by 0.53% from a year, shows govt data

Mon, 04/15/2024 - 02:51
WPI for potato witnessed a jump of 52.96 per cent against a deflation of 25.59 per cent, while for onion 56.99 per cent as compared to (-) 36.83 per cent in March 2023

BJP promises to double Mudra loan limit to Rs 20 lakh in its poll manifesto

Sun, 04/14/2024 - 05:36
Over 460 million loans worth of Rs 27 trillion have been given so far under Mudra yojana.

BJP manifesto to maintain fiscal prudence, make India 3rd largest economy

Sun, 04/14/2024 - 05:17
The government has set a fiscal deficit target of 5.1 per cent for FY24-25 to stay on track to meet the glide path set in 2021-22. The government aims to reduce the fiscal deficit to 4.5% by FY26

States fiscal deficits for FY24 likely to be close to 3.1% of GDP: Citi

Sun, 04/14/2024 - 03:57
The report suggests grants from Centre to states have been falling due to no GST compensation funds and lower finance commission grants

March retail inflation eases to 10-mth low of 4.85%; IIP grows 5.7% in Feb

Fri, 04/12/2024 - 14:13
But remains well above RBI's 4 per cent target

Election season may hit govt capital expenditure spending, FDI inflows

Fri, 04/12/2024 - 13:02
In case of FDI, the total FDI inflows was over $50 billion in FY20 and its share during the election months of April-May 2019 turned out to be 18.1 per cent

India's key peers show a declining trend in their recent inflation print

Fri, 04/12/2024 - 10:41
Among Brics countries, Brazil, China, and India have shown a decline compared to the previous month and Russia has seen an uptick

Rupee, government bonds weaken post higher-than-expected March US CPI

Fri, 04/12/2024 - 09:58
The 10-year govt bond yield surged 7 bps to its highest level in over two months tracking the rise in US Treasury yields

India's foreign exchange reserves hit fresh peak of $648.56 billion

Fri, 04/12/2024 - 09:49
In the current calendar year, the reserves have expanded by 23 billion so far. As of 29 December 2023, India's foreign exchange reserves amounted to $623 billion

Retail inflation eases to 4.85% in March, IIP grows 5.7% in February

Fri, 04/12/2024 - 09:02
The government has tasked the Reserve Bank to ensure inflation remains at 4%, with a margin of 2 per cent on either side

Moody's Analytics projects India's economy to expand by 6.1% in 2024

Fri, 04/12/2024 - 07:40
The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures