India Feb business growth at 6-month high, fueled by services and jobs surge, PMI shows
Growth in India’s private sector accelerated at its fastest pace in six months in February due to a surge in services activity that enabled businesses to pass on rising input costs to customers, according to a survey that also showed…
Govt tightens stock limit on wheat as prices rule firm ahead of harvest
Pune: The government has tightened the stock limit on wheat as prices continue to rule firm, while high temperatures have increased worries about the output of the upcoming rabi harvest. The stock limit on wholesalers have been reduced by 75%,…
Between a tariff and a hard place: How India can find the sweet trade spot in Trump era
If you have seen ‘Top Gun’, then, by the end of the movie, you may have concluded that ‘Maverick’, even though he appears to be acting on impulse, is actually not only fully aware of the consequences of his actions,…
India poised to remain fastest-growing economy in 2025-26 despite market turbulence: RBI
Kolkata: India is likely to hold its position as the fastest growing major economy in 2025-26 despite market turbulence and overseas portfolio investment outflows while the escalation of tariff war could stoke inflation, the Reserve Bank of India said in…
India’s Q3 GDP growth likely at 6.2%-6.3%, SBI says
Despite global geopolitical uncertainties and disruptions in trade and supply chains, India’s economy has remained resilient, according to a report by the State Bank of India (SBI). The bank has projected the country’s GDP growth at 6.2%-6.3% for the October-December…
India formulating strategies to protect exporters’ interests: Prasada
India is formulating strategies to ensure that interests of domestic exporters are protected amid rising protectionism globally, Minister of State for Commerce and Industry Jitin Prasada said on Tuesday. He also said that with a 1.4 billion domestic market, India…
Tesla’s sudden India hiring plan comes amid Trump’s trade talks & tariff threats
Less than a week has passed since Prime Minister Narendra Modi met with Tesla CEO Elon Musk, a key figure in the Trump administration now, to outline a bilateral roadmap for strengthening technology partnerships.Yet, within this short span and following…
India, EU to hold next round of talks on proposed FTA from March 10
India and the European Union will hold the next round of talks on the proposed free trade agreement (FTA) from March 10 to 14, a senior government official said on Monday. Additional Secretary in the Department of Commerce L Satya…
US tariffs won’t hurt Indian pharma and steel exports: Tycoons
Indian companies in pharmaceutical and steel sectors are largely unfazed by impending trade tariffs by the Trump government, with two prominent manufacturers downplaying concerns of the impact on Indian exports of these products to the US.“The products we supply to…
NABARD pegs Odisha’s credit potential for 2025-26 at Rs 2,52,000 cr
The National Bank for Agriculture and Rural Development (NABARD) has projected Odisha’s credit potential for 2025-26 fiscal at Rs 2,52,000 crore. The projection was made in the bank’s state focus paper for the state released here on Saturday during a…
BITs should capture national interest, signed separately from FTAs: FM Sitharaman
Finance Minister Nirmala Sitharaman on Saturday said that going forward the bilateral investment treaties should capture national interest in relation to regulatory powers and serve as a guide to arbitrators in resolving disputes. Speaking at the inauguration of the first…
BJP MP Baijayant Panda to lead 31-member committee reviewing new Income Tax Bill
BJP MP Baijayant Panda will lead the 31-member Select Committee tasked with reviewing the Income-Tax Bill introduced by Finance Minister Nirmala Sitharaman. The bill seeks to replace the existing Income Tax Act of 1961, aiming to simplify tax laws and…
India-US to seal first trade deal tranche by fall, aiming for $500 billion target
New Delhi: India and the United States are looking to negotiate the first tranche of a Bilateral Trade Agreement (BTA) by the fall this year. The deal will focus on increased market access and reduction of tariff and non-tariff barriers…
LS forms Select Committee to examine new Income Tax Bill; Baijayant Panda appointed Chairperson
Speaker of the Lok Sabha, Om Birla, on Friday constituted a Select Committee to examine the Income-Tax Bill, 2025 under the Chairmanship of Baijayant Panda, a Member of Parliament. The committee will thoroughly review the provisions of the Bill before…
Trump & Modi talk fighter jets, trade wars, China & ‘Making India Great Again’; leave out Adani
US President Donald Trump announced that India has agreed to begin negotiations to address trade disparities, even as he criticized New Delhi’s high tariffs and defended his new reciprocal tariff policy. Speaking at a joint press conference with Indian Prime…
Trump brandishes his big weapon: What are reciprocal tariffs?
Just before meeting Prime Minister Narendra Modi, US President Donald Trump announced plans to impose reciprocal tariffs on countries matching their tariffs on US goods. This move, intended to address trade imbalances, could stir international tensions and impact global economic…
India to introduce new policies for toys, footwear manufacturing: Piyush Goyal
Bengaluru: Union Minister of Commerce and Industry, Piyush Goyal, announced that the government will soon introduce new policies to further promote the manufacturing of toys and footwear in India. The aim is to make the country a global leader in…
‘Haye Bhagwan’ to TMC MP’s continual intrusion, moments from FM Sitharaman’s reply on Budget 2025 – The Economic Times Video
Finance Minister Nirmala Sitharaman on Tuesday pledged more steps to help India retain the world’s fastest expanding major economy status, while asserting that a “speedy rebound” is underway after the growth deceleration in the quarter to September 2024. Replying to…
As Trump’s tariff threats get louder, what’s next for India-US trade ties?
New Delhi: Ahead of Prime Minister Narendra Modi’s US visit, India slashed customs duties on a range of products as Washington ratchets up threats of reciprocal tariffs. In the first round, the new Trump administration imposed tariffs on China, Mexico…
India, Israel should look at increasing bilateral trade 10 times: Piyush Goyal
The current bilateral trade between India and Israel is “sub-optimal” and both countries should look at increasing it 10 times in the coming years as huge potential is there, Commerce and Industry Minister Piyush Goyal said on Tuesday. He said…
India needs to add USD 4 tn in bank capital to meet ‘Viksit Bharat’ GDP target: Report
New Delhi: India’s banking sector will need to raise USD 4 trillion in capital over the next two decades to support the country’s goal of becoming a developed economy, or “Viksit Bharat,” by 2047, according to a report by HSBC…
India-Indonesia business ties get fresh boost with Prabowo visit
A number of business meetings, government-government interactions and industry level talks were held alongside the State Visit of President Prabowo Subianto to India from 24-27 January in New Delhi leading to new initiatives in business and trade. A large business…
RBI may cut interest rates further by 50 bps in 2025, stance to turn accommodative: Bank of Baroda
New Delhi: The Reserve Bank of India (RBI) may cut interest rates further by 50 basis points (bps) in 2025 and shift its stance from “neutral” to “accommodative,” according to a report by Bank of Baroda.The report suggested that the…
India’s total trade to reach USD 1.8 trillion by 2033, growing at 6.4% CAGR: Report
New Delhi: India’s total trade is expected to grow at a compound annual growth rate (CAGR) of 6.4 per cent through 2033, reaching USD 1.8 trillion annually, according to a BCG report. A major factor fueling this surge is India’s…
Focus on fiscal consolidation, growth supports India’s credit profile: CareEdge Global
New Delhi: The Union Budget for 2025-26, presented on February 1, reinforces credibility in India’s fiscal consolidation roadmap while emphasizing boosting the economy’s overall growth potential, CareEdge Global Ratings said in a report.Both these aspects — commitment towards fiscal consolidation…
No level for rupee in mind, market forces decides forex rate: RBI Governor Sanjay Malhotra
Reserve Bank Governor Sanjay Malhotra on Saturday said that the market forces decide the value of rupee with respect to the US dollar and the central bank is not worried about day-to-day movement of the currency value. Addressing the media…
India slashes income taxes and rates, but Modi govt has to convince investors
Prime Minister Narendra Modi is counting on a two-pronged stimulus of tax and interest rate cuts to turn around India’s slowing economy, but investors may need more convincing that the measures will be enough.The decision by India’s central bank on…
Union Cabinet approves new Income Tax Bill to simplify and modernise tax system
The Union Cabinet on Friday approved the new Income Tax Bill. The bill, which will replace the Income Tax Act, 1961, aims to simplify and modernise India’s tax system. It will also simplify legal language so that taxpayers can easily…
LIVE | RBI Governor Sanjay Malhotra delivers monetary policy statement
LIVE | RBI Governor Sanjay Malhotra delivers monetary policy statement
Government pegs higher production of onion, tomato and potato for 2024-25 in first estimate
India’s onion production is expected to rise by 19 per cent to 288.77 lakh tonne in the ongoing crop year ending June 2025, according to the agriculture ministry’s latest estimate. Production of onion stood at 242.67 lakh tonne in the…
RBI may cut repo rate by 25 bps on February 7: Bank of Baroda
New Delhi [India], February 6 (ANI): The Reserve Bank of India (RBI) is expected to reduce the repo rate by 25 basis points (bps) in its upcoming monetary policy announcement on February 7, according to a report by Bank of…
Govt extends export ban on de-oiled rice bran till Sep
New Delhi: The government has extended the ban on exports of de-oiled rice bran till September 30 this year, according to an official notification. De-oiled rice bran is a major ingredient in the preparation of cattle and poultry feed. It…
India’s fruit and vegetable exports surge 47.3 pc with APEDA’s financial assistance: Commerce Ministry
India’s exports of fruits and vegetables have witnessed a significant surge of 47.3 per cent in volume between the financial years 2019-20 and 2023-24, according to the Ministry of Commerce & Industry. This remarkable growth has been attributed to the…
Plan is to create separate agency to implement BharatTradeNet: DGFT
The Budget announcement to set up BharatTradeNet as a unified platform for trade documentation and financing solutions is an ambitious proposal and there is a plan to create a not-for-profit company to implement this project, a senior government official said…
RBI may use CRR as a regulatory intervention tool rather than liquidity management tool: SBI Report
New Delhi: The Reserve Bank of India (RBI) may start using the Cash Reserve Ratio (CRR) more as a regulatory intervention tool rather than just a liquidity management tool in the future, according to a report by the State Bank…
US duties on China, Canada, Mexico provide export opportunities for India: Exporters
The imposition of customs duties by the US on imports from China, Canada, and Mexico provides huge export opportunities for India to America, exporters say. The tariffs would affect exports from China, Canada, and Mexico to the US as they…
RBI expected to cut interest rates for first time in nearly five years
The Reserve Bank of India (RBI) is expected to cut interest rates for the first time in nearly five years this Friday on waning concerns about stubborn inflation, economists and investors polled by ET said, as Mint Road’s priority changes…
Most suggestions on IT Act were about simplifying language, widening presumptive taxation: CBDT Chairman
An Income-Tax Department internal committee reviewing the old direct tax law to pave the way for a new one has “largely” received suggestions for simplifying the language, better “structuring” the provisions and enlarging the ambit of schemes like presumptive taxation,…
Budget 2025: From startups to aviation and retail to realty, jobs could be made in millions
Finance minister Nirmala Sitharaman’s budget proposals are expected to spur job creation across sectors as diverse as manufacturing, tourism, agriculture, leather, mining, healthcare, aviation, electronic equipment, startups, retail, real estate, MSMEs and global capability centres (GCCs).Experts said the budget is…
Boost in urban infrastructure: HUA ministry allocated Rs 96,777 cr in Budget 2025-26
New Delhi: In a bid to boost urban infrastructure, the Centre Saturday hiked the allocation for the Union Housing and Urban Affairs Ministry by around 18 per cent, setting aside Rs 96,777 crore for it in the Union Budget 2025-26….
India Budget 2025 key takeaways: Major announcements made by Finance Minister Nirmala Sitharaman
India Budget Takeaways: Finance Minister Nirmala Sitharaman is set to table Modi 3.0’s first full Budget on February 1. All eyes on what the Finance minister brings in today’s budget to help India find its way in a the world…
Regulators should assess impact of their regulations says Eco Survey
The Economic Survey suggested financial sector regulators should put in place a formal process to assess the impact of their regulations. The quality of regulations can be assessed based on five criteria: democratic legitimacy, accountability of the regulator, fair, accessible…
RBI to cut rates to 6.25% in February, followed by one more cut next quarter: Poll
The Reserve Bank of India (RBI) is set to cut its main policy rate on Feb. 7 followed by just one more cut next quarter, according to economists polled by Reuters, who have kept their views largely unchanged from a…
IBBI amends technical standards for information utilities rules
Stricter norms have been put in place for information utilities under the insolvency law to enhance identity verification and streamline the authentication process for financial default records. The Insolvency and Bankruptcy Board of India (IBBI) has amended the guidelines for…
Centre readies roadmap for steady reforms, broad framework likely in Union Budget
New Delhi: The government is set to unveil in the coming months the reforms approach that will guide its economic policy making over the longer term to sustain high growth rates, said a person aware of the deliberations on the…
Labour reforms crucial for realising the vision of Viksit Bharat by 2047: Mansukh Mandaviya
Labour and employment minister Mansukh Mandaviya Wednesday emphasized on the need for undertaking labour reforms, which he said are crucial for realizing the vision of Viksit Bharat by 2047.Addressing a two-day national conference with labour ministers and secretaries of all…
India reviews Donald Trump’s new trade policy
New Delhi: India is conducting a legal review of US President Donald Trump’s America First Trade Policy to gauge its implications on the country’s trade agenda. The commerce and industry ministry is undertaking a paragraph-wise review of the executive order…
Indian investors keep eyes peeled for these 3 events
Amid concerns over high valuations, heavy selling by FIIs, poor earnings and a challenging macro scenario, a large number of stocks have entered bear market. Though the benchmark Sensex is down only about 12% from its 52-week high on September…
Budget 2025: India’s education sector to have a digital and skilling transformation?
The National Education Policy 2020 sets the overarching framework for transforming our education system. While the policy provides overall guidelines, the Government is now focused on developing micro-level strategies and interventions for improving governance through “light-but-tight” regulations and, at the…
RBI supersedes board of Aviom India Housing Finance on governance concerns
The Reserve Bank of India (RBI) has taken control of Aviom India Housing Finance due to concerns over governance and payment defaults. The RBI will initiate the resolution process under the Insolvency and Bankruptcy Code. Ram Kumar, former chief general…
Budget 2025: SBI says government may introduce new funding methods for infrastructure, disaster pool, sectoral PLIs
The Union government, in its upcoming Budget 2025, may announce innovative measures to boost infrastructure, agriculture, MSMEs, and other critical sectors, according to a report by the State Bank of India.These measures could include alternate funding sources, targeted production-linked incentive…
India-Oman trade pact talks to get push during Piyush Goyal’s Oman visit: Govt
New Delhi: The talks on India-Oman Comprehensive Economic Partnership Agreement (CEPA) are likely to get “further impetus” during commerce and industry minister Piyush Goyal’s visit to Oman this week, the government said Sunday. Goyal will visit Oman from January 27…
Rise of the Premium League: Consumers embrace luxury choices despite price hikes
Mumbai: Demand for premium products — from groceries and spirits to clothing and shoes — has bucked the slowdown trend, especially in the cities, amid a cutback in mass-priced segments due to inflation.The likes of Hindustan Unilever (HUL), Diageo India,…
Centre should study how effectively states’ utilised economic reforms: Andhra CM Chandrababu Naidu
Andhra Pradesh Chief Minister N Chandrababu Naidu on Saturday said that he will request the Government of India (GoI) to undertake a study to gauge how effectively Indian states availed the reforms of Liberalisation, Privatisation and Globalisation (LPG). Back in…
Budget 2025: Country tunes to remain a big hit in FY26 too
New Delhi: The government is expected to sustain its focus on rural development in the budget for 2025-26 with a 5-8% year-on-year increase in allocations for key schemes, said people with knowledge of the matter.The rural development ministry has an…
Weaker rupee not one-size-fits-all solution to boost exports: Apex exporters body
New Delhi: A weaker rupee is not a one-size-fits-all solution to boost exports, the apex exporters’ body Federation of Indian Export Organisations (FIEO) said Friday. If the rupee depreciates by 2% and the currencies of key competitors decline by 3-5%,…
Budget 2025: Fintechs pitch for dedicated Rs 1,000 crore fund
India Budget: Grappling with increased cost of capital and scarcity of funding, fintech companies have approached the finance ministry seeking a dedicated fintech fund to the tune of ₹1,000 crore, two people present in the meeting told ET.In a recent…
Inclusive growth key pillar of India’s economic blueprint: Ashwini Vaishnaw
India will comfortably maintain a 6-8 per cent economic growth rate while keeping inflation under check in the years to come, senior Union Minister Ashwini Vaishnaw said on Thursday. Speaking at a session during the World Economic Forum Annual Meeting…
ET@Davos: India will ready a response to Trump measures, says Ashwini Vaishnaw
The trust that India has built up with global companies and partners over the years is its biggest differentiator on the global stage, railways, IT and I&B minister Ashwini Vaishnaw, who is leading the Indian delegation at Davos, told ET’s…
CBDT notifies amendments in I-T rules for presumptive taxation of non-resident cruise ships
The income tax department has notified amendments in I-T rules to prescribe conditions for applicability of presumptive taxation regime for non-resident cruise ship operators. As a measure to promote investment and employment, the government had in the July Budget, provided…
Indian economy to grow 6.5-6.8% in 2024-25 fiscal, projects Deloitte
Amid evolving economic conditions, Deloitte India, in its latest Economic Outlook, has revised its annual GDP growth projection for 2024-25 to 6.5-6.8 per cent, with expectations for 6.7-7.3 per cent in the following year. Multinational professional services firm Deloitte said…
Govt issues draft rules to make e-commerce more accountable; seeks comments by Feb 15
The government has rolled out draft guidelines for e-commerce platforms, mandating self-regulatory measures to protect consumers from fraudulent practices amid the fast-growing digital shopping landscape in India. The draft guidelines, titled ‘E-commerce-Principles and Guidelines for Self Governance’, have been prepared…
ET@ Davos 2025: India among top 5 global investment destinations, says PWC’S Global CEO Survey
DAVOS: India has ranked among the top five investment destinations for global CEOs, along with US, UK, Germany and China, according to PwC’s 28th Annual Global CEO Survey. India had jumped to fifth position among preferred investment destinations in 2024,…
Budget should raise I-T exemption threshold to Rs 5.7 lakh, simplify TDS: GTRI
The Budget should raise the income tax exemption threshold to Rs 5.7 lakh to match inflation, simplify TDS system, and equalise tax treatment for bank deposits and equities, think tank GTRI suggested on Monday. The threshold for an individual’s income…
Budget 2025: India looks to bring more women into workforce
New Delhi: India is considering several measures, including incentives, to enhance the female labour force participation rate in the country, people familiar with the matter said. Finance minister Nirmala Sitharaman could include a plan for this in the February 1…
Budget 2025: Sluggish economy means pragmatism, rather than aggressive reduction, will rule the roost
India’s fiscal deficit had shot up to a record high of 9.2% of gross domestic product (GDP) in fiscal 2021 in the aftermath of the Covid-19 pandemic. Bringing it down from that highpoint to 5.6% last fiscal was no mean…
‘Make in India’ complements Bangga Buatan Indonesia
The ‘Make in India’ and ‘Bangga Buatan Indonesia’ (Make in Indonesia) initiatives are complementing each other, as both countries work towards their shared goal of becoming developed nations by the centennials of their independence, Indonesian officials said.Indonesian President Prabowo Subianto’s…
Import of refurbished medical devices not allowed: CDSCO
NEW DELHI: In a move aimed at curtailing the influx of unregulated second-hand medical devices in the country, the apex drug regulator Central Drugs Standard Control Organisation (CDSCO) has informed the Customs Department that import of refurbished devices is not…
RBI predicts stronger economic growth in H2 FY25, driven by demand rebound and rural resilience
Kolkata: The second half of the current fiscal year would result in faster economic growth than a relatively circumspect first half, boosted by a visible demand rebound, Reserve Bank of India (RBI) economists said on Friday in their latest assessment…
Growth in India slowed more than expected: IMF
Led by a sharper-than-expected deceleration in industrial activity, economic growth in India slowed more than anticipated and is projected to remain at 6.5 per cent till 2026, the International Monetary Fund said on Friday. “Growth in India slowed more than…
Reserve Bank of India rolls out steps to boost Rupee power overseas
The Reserve Bank of India (RBI) Thursday allowed banks to open rupee accounts at their overseas branches for people residing outside the country in the latest regulatory move aimed at helping achieve the rupee’s internationalisation. The RBI said on its…
India economic growth 2025: Global economic conditions to weaken in 2025, India’s strong growth continues: WEF
NEW DELHI: A majority of chief economists worldwide expect weaker global economic conditions in 2025 but India is likely to maintain a strong growth despite signs of some momentum being lost, a new report said on Thursday. In its latest…
Rail Budget may see up to 20% hike, focus on station upgrades & modern trains
New Delhi: Indian Railways could get a 15-20% bump in capital expenditure allocation for FY26 in the upcoming budget as it looks to exhaust the current year’s funds in time. This could raise the total capital expenditure allocation for the…
SOP to ensure robust trade data in works
New Delhi: India is developing standard operating procedure (SOP) for coordination among various government agencies to ensure robustness of official trade data, commerce secretary Sunil Barthwal said Wednesday. The development comes amid major revisions in the import data for gold,…
Budget 2025: Import of copper scrap may soon turn duty free
New Delhi: The Centre is mulling removing the 2.5% concessional basic customs duty on copper scrap, a move that can potentially boost the prospects of domestic units. “Earlier budgets had lowered the import duty from 5% to 2.5%. A case…
Global inflation will remain high for years, economists tell Ifo
Economists expect global inflation to remain high at least until 2028, according to a new survey that may add to market concerns about sticky price pressures. They forecast an average inflation rate of 3.5% in three years, only slightly below…
China’s export curbs: Hi-tech machinery supply faces major hit
Sectors with heavy reliance on China, like electronics, solar panels and electric vehicles (EVs), are facing severe challenges in getting capital equipment including hi-tech machinery, with India’s Far East neighbour almost halting supplies, say industry executives.Beijing’s move, experts said, is…
Net direct tax collection rises 16 pc to Rs 16.90 lk cr for current fiscal year
Government data revealed that the net direct tax collection during April 1, 2024 -January 12, 2025 period stood Rs 16.90 lakh crore, a 16 per cent growth year-on-year. The gross direct tax collections, before refunds, saw a robust 19.94 per…
Budget 2025: Plan afoot to decarbonise power, steel
India is working on a national carbon capture utilisation and storage (CCUS) mission to support decarbonising hard-to-abate sectors such as thermal power, iron and steel, and cement plants, people familiar with the matter told ET. The contours of the mission…
Budget 2025: Amnesty Scheme for customs may be announced to reduce litigation, say experts
In a bid to reduce litigation, Finance Minister Nirmala Sitharaman in the upcoming Budget may announce an Amnesty Scheme for customs to foster ease of doing business. “The main asks of the industry would certainly be aligned with the objectives…
India oil imports: India’s energy security will fuel bid to become $4 trillion economy much earlier: Hardeep Puri
Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri on Saturday said India’s energy security will fuel the country’s bid to become a USD 4 trillion economy much earlier than the projected 2027. Puri was addressing a session at…
Piyush Goyal: Piyush Goyal assures garlic traders to look into alleged illegal imports issue
Commerce and Industry Minister Piyush Goyal has assured garlic traders to look into their concerns over illegal imports of the agri commodity, an official said on Saturday. A delegation of garlic traders met the minister on January 10 and highlighted…
Energy Efficiency: India must take lead in energy efficiency: Amitabh Kant
New Delhi: India needs to focus on investment and innovation in clean technologies in order to reduce import dependence and achieve the Viksit Bharat goal by 2047, the country’s G20 Sherpa, Amitabh Kant, said on Friday. Innovation and startups were…
Angel tax removal helped reverse flipping, startup funding $155 bln in 2024: DPIIT
New Delhi: Encouraged by the decision to abolish angel tax, some start-ups are returning to India by shifting their headquarters back to the country Amardeep Singh Bhatia, secretary, Department for Promotion of Industry and Internal Trade (DPIIT) said Friday. “The…
Dollar sales by private banks help Rupee recover from lifetime low
The rupee weakened to its lifetime intraday low on Thursday to 85.93 per dollar before closing at 85.848/$1, little changed from the previous day. Risk aversion toward the US dollar on the back of expectations of slower-than-anticipated rate cuts by…
Budget 2025: Date, time, who will present it and how to watch? – Budget 2025: Who will present and when
The Union Budget 2025 is expected to be presented in Parliament on February 1, 2025, continuing the tradition of recent years. Although an official confirmation from the government is pending, Finance Minister Nirmala Sitharaman is likely to present the budget…
India revises gold and silver import figures: Trade deficit narrowed
The government revised gold and silver imports for April-November FY25, with the steepest downward revision of $5 billion in the former. Data for November gold imports was revised to $9.84 billion, from the $14.86 billion announced last month, narrowing the…
India must speed up hybrid technology adoption in pulses, oilseeds to reduce imports, says PK Mishra, Principal Secretary to PM
India needs to accelerate adoption of hybrid technology in pulses and oilseeds to address production deficits, while acknowledging the challenges faced by farmers in implementing these advanced farm practices, Principal Secretary to Prime Minister PK Mishra said on Wednesday. Mishra…
New RBI chief faces calls to unshackle Rupee amid surging Dollar
India’s new central bank head faces a tough decision on managing the rupee’s exchange rate — focus on squeezing volatility like his predecessor did, or respond to calls for more flexibility as the dollar continues to surge.Former Reserve Bank of…
India, Malaysia agree to explore to enhance cooperation in critical minerals
India and Malaysia on Tuesday agreed to deepen cooperation in counter terrorism and deradicalization; cyber security; defence industry; and maritime security. ET Year-end Special Reads They also explored ways to enhance cooperation in critical minerals and rare earths. It was…
Budget 2025: Exempt income-tax up to ₹10 lakh, check Chinese imports, urge RSS Unions to Nirmala Sitharaman
New Delhi: RSS-affiliated unions suggested raising the tax-exempt income to ₹10 lakh, a special agriculture package, expanding MGNREGA to 200 days of work, expediting GST refunds, and a comprehensive manufacturing policy to check Chinese imports in their pre-budget consultations with…
RBI adds 8 tons gold to its reserves in November 2024: WGC
Central banks around the world collectively, in November 2024, added 53 tonnes of gold to their reserves, of which the Reserve Bank of India’s addition was 8 tonnes, the World Gold Council (WGC) said in a report on Monday. In…
Budget 2025: Plan to multiply value-added exports soon
NEW DELHI: The upcoming budget is likely to give a boost to exports of value-added products, especially those that are not labour intensive, by offering them rupee export credit at competitive rates. Currently, only micro, small and medium enterprises (MSMEs)…
FDI in India growing rapidly: Piyush Goyal
FDI inflows into the country are surging, with investors from the Middle East, Japan, European Union, and the US recognising India’s status as a top investment destination, driving rapid economic growth and generating millions of new jobs, Commerce and Industry…
Budget 2025: What can government do to tame inflation horse
Finance Minister Nirmala Sitharaman’s 2025 Budget has to undertake a host of measures to address the economic landscape, with a focus on India’s inflation which has been a key concern for policymakers.Despite the RBI keeping policy rates constant at 6.5…
Budget 2025: Agri minister reviews schemes with states; expects 3.5-4 pc growth in FY25
Agriculture minister Shivaraj Singh Chouhan on Saturday reviewed various schemes with state agriculture ministers and sought their suggestions on ongoing programmes and budget allocation ahead of the Union Budget. During a virtual meeting, Chouhan expressed satisfaction over the agriculture and…
Diversifying assets: RBI strategy has a heart of gold
Mumbai: The Reserve Bank of India (RBI) has accelerated gold purchases since October to mitigate revaluation risks to its foreign exchange stockpile and minimise currency volatility, with a part of the reserves that have come off record highs since late…
India’s exports to cross USD 800 bn this fiscal: Piyush Goyal
New Delhi: Commerce and Industry Minister Piyush Goyal on Friday said despite global economic uncertainties, India’s exports of goods and services are expected to cross USD 800 billion this fiscal, which will be a record. Last fiscal year, the exports…
Working group formed to revise WPI base year to 2022-23 from 2011-12
New Delhi: The government has set up a working group under NITI Aayog member Ramesh Chand for revising the base year of the current series of Wholesale Price Index (WPI) to 2022-23 from 2011-12 currently. The group will suggest the…
India-EFTA trade pact likely to be implemented before end of 2025: Piyush Goyal
The implementation process of free trade agreement (FTA) between India and the four-nation European bloc EFTA is progressing fast and is expected to come into force before the end of this year, Commerce and Industry Minister Piyush Goyal said. The…
GST collection growth slows in December show
India’s goods and services tax (GST) collections rose 7.3% to `1.77 lakh crore in December from the year earlier, slowing from an 8.5% year-onyear increase in November, official data showed Wednesday. The muted growth came on the back of a…
Rs 2000 notes withdrawal: Rs 6,691 cr worth such notes still with public
Mumbai: The Reserve Bank on Wednesday said 98.12 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,691 crore worth such notes are still with the public. On May 19, 2023, the…
India’s goods, services exports likely to cross USD 800 bn in 2024: GTRI
New Delhi: India’s overall exports of goods and services in 2024 has estimated to cross USD 814 billion, an increase of 5.58 per cent, according to a report by economic think tank Global Trade Research Initiative (GTRI). In 2023, the…
Farmer-friendly revision of NPOP to boost India’s organic products exports: APEDA Chairman
The commerce ministry’s arm APEDA has revised the NPOP’s regulations to make it more farmer-friendly and help India achieve USD 2 billion exports target for organic food products by 2030, a government official said. The National Programme for Organic Production…
RBI’s financial stability report: Stress may tell on lenders, pile on NPAs, erode buffers
MUMBAI: The central bank’s Financial Stability Report projected that commercial banks could witness a rise in the share of bad loans and that their capital buffers may decline in extreme stress scenarios.It also voiced concerns over lingering microfinance and consumer…
Prospects of economy expected to improve in 2025: RBI Governor
Facing criticism from the government over the central bank prioritising inflation over growth, the new RBI Governor Sanjay Malhotra on Monday said that prospects of the Indian economy are expected to improve on the back of high consumer and business…
Rupee’s backloaded retreat against the dollar mars year of rare stability
For the rupee, this year has been a story in quarters – and the last hasn’t been particularly flattering. The pace of its retreat against the US dollar adds, at least theoretically, imports-fed inflation risks, and another layer of complexity…
“Go for growth”, “shun protectionism”: Uday Kotak lists out musings ahead of New Year
As the curtains come down to the calendar year 2024, Uday Kotak, Founder and Director of Kotak Mahindra Bank, has listed ten-point priority areas for the overall growth of the Indian economy in the year that knocks our doors.Taking to…
Spree of nuptials unties some knots in demand
Weddings have been a blessing this year, not just for the couples but also for the inflation-weary economy. Sales of gold, jewellery, apparel, edible oil, packaged staples and household appliances have increased in the last two months of 2024. Industry…
All 36 states and UTs to frame rules on Labour Codes by end of this fiscal year: Labour Ministry
The ministry of labour and employment is confident of bringing in all 36 state and union territories (UTs) in India on board by end of the current financial year on draft Rules across the four Labour Codes. This could pave…
Urban-rural consumption gap closes further in 2023-24
New Delhi: Consumption inequality among rural and urban residents in India declined further in 2023-24 and non-food items continued to dominate average monthly expenses across the country, results of the latest Household Consumption Expenditure Survey (HCES) published Friday showed.The average…
Current account deficit at $11.2 billion in July-September
The current account deficit stood at $11.2 billion, or 1.2% of GDP in the reporting quarter, compared with a revised deficit of $11.3 billion or 1.3% of GDP in the same quarter a year ago, the Reserve Bank of India…
Rupee depreciation may push import bill by USD 15 bn: GTRI
The depreciation of Indian rupee against the US dollar is expected to push the country’s import bill by about USD 15 billion, think tank GTRI said on Thursday. Compared to December last year, the Indian Rupee (INR) has depreciated 2.34…
RBI announces ‘FREE-AI’ committee to develop AI framework
The Reserve Bank of India on Thursday announced the setting up of an eight member panel to develop the framework for responsible and ethical enablement of artificial intelligence. The committee called FREE-AI will be headed by Pushpak Bhattacharyya from the…
Budget 2025-26: Rural roads scheme could get 10% topup; FY26 outlay hike likely
NEW DELHI: The Centre is likely to raise the outlay for its key roads scheme by nearly 10% in the budget for the next fiscal year to deepen its rural push, recognising the high multiplier effect of such productive spending…
Net formal jobs under EPFO down to five-month low of 1.34 million in October
Net formal job creation under the Employees’ Provident Fund Organisation (EPFO) fell to a five-month low of 1.34 million in October, a year-on-year dip of 11.8% compared to 1.52 million in October 2023 shows government data.As per the provisional EPFO…
Employee compensation up 13% – The Economic Times
Average annual employee compensation at unincorporated enterprises rose 13% to Rs 1.4 lakh per head during the October 2023-September 2024 period compared to a year earlier, official data released on Tuesday showed. Enterprises in the manufacturing sector saw a rise…
FIEO seeking govt support to boost US exports amid threat of high tariffs on China
Apex exporters’ body FIEO on Tuesday said it has formulated a strategy to boost India’s exports to America, aiming to capitalise on potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on…
Cotton farmers from Telangana may get central price support
The Centre is likely to launch a pilot of the Bhavantar Bhugtan Yojana – a price support scheme that compensates farmers for the difference when the prevailing market price falls below the minimum support price (MSP) – for cotton farmers…
Retail inflation for farm, rural workers eases in November
Retail inflation for farm workers and rural labourers dipped to 5.35 per cent and 5.47 per cent in November compared to 5.96 per cent and 6 per cent, respectively, in October this year. The All-India Consumer Price Index for Agricultural…
India getting into ‘offensive’ play after Trump check
Ahead of Donald Trump taking office, the Centre has reached out to industry seeking their ‘offensive asks’ from Washington. These asks relate to demands in the areas of export interest for India. “We have asked industry on how they see…
Bilateral investment treaty and FTAs are two separate pacts; should continue to remain so: Sources
Demands of certain developed countries from India to negotiate ‘investment protection’ elements under an FTA is inappropriate as negotiating the matter as part of a separate chapter under the trade pact could have larger and detrimental implications, source said. Legally…
Budget 2025: States to get more funds for disaster relief via interest-free loan scheme
States will be eligible for additional targeted allocations for disaster-related programmes through a 50-year, interest-free loan scheme, officials aware of the matter told ET.This will provide states substantive fiscal support to rebuild infrastructure and undertake mitigation measures, they said. The…
Gift vouchers won’t attract GST, clarifies Council
In a significant move during its 55th meeting in Jaisalmer, the GST Council clarified that transactions involving vouchers will be treated as neither a supply of goods nor services and, consequently, will not face taxation under the Goods and Services…
India considers exempting gift vouchers from GST; Council to discuss key issues
India could spare gift vouchers, offered by companies, particularly in the retail sector, from the levy of Goods and Services Tax (GST), said people with knowledge of the matter. The GST Council, the apex decision-making body for indirect tax, is…
Non-tariff barriers impeding trade: India tells EU
India has flagged non-tariff barriers being faced by its domestic industry in the European Union (EU) and emphasised the need to address long pending issues as a confidence building measure under the bilateral free trade agreement (FTA) talks, the government…
India to reassess gold import data amid calculation errors, double-counting concerns
India’s import data since July may have to be recast as the ministries of finance and commerce & industry look into the sudden spike recorded in imports of gold. Officials from both ministries will hold discussions this week and next…
India gears up for a potential trade deal as Trump targets China, say government sources
India is preparing to offer tariffs cuts on some farm and other goods mainly imported from the U.S., aiming to clinch a broader trade and investment deal once president-elect Donald Trump takes charge, government and industry sources in New Delhi…
India moves to guard against Trump’s likely tariff strike
New Delhi: India has begun a detailed sector-wise analysis, drawing up multiple scenarios, to prepare for a possible increase in tariffs on product exports to the United States under the Donald Trump administration, multiple people familiar with the matter told…
Indian mills can export up to 2 million tons of sugar this season, industry says
India’s sugar mills can easily export up to 2 million metric tons of the sweetener this season as domestic supply prospects improve and local prices show a downward trend, the head of a leading industry body said on Wednesday. “The…
Lower Q2 growth a temporary blip, no production slump: Nirmala Sitharaman
The economy will expand at a healthy pace in the coming quarters, finance minister Nirmala Sitharaman said, terming the growth deceleration in the three months through September to 5.4% as a “temporary blip.” Replying to a debate on the first…
Par Panel bats for legal guarantee of MSP to protect farmers’ interests
A parliamentary panel on Tuesday recommended the government implement a legally binding minimum support price (MSP) for agricultural produce, arguing that such a measure could significantly reduce farmer suicides and provide crucial financial stability. The Standing Committee on Agriculture, Animal…
2014 ends on positive note as business activity hits 4-mth high
India’s business activity touched a four-month high of 60.7 in December, ending the year on a positive note with a rise in new business intakes, according to a private survey released on Monday. The HSBC Flash India Composite Output Index,…
No timeline for introduction of regulatory guidelines for virtual digital assets industry: MoS Finance
There is no timeline for introduction of comprehensive regulatory guidelines for the Virtual Digital Assets (VDA) industry, Parliament was informed on Monday. Virtual Digital Assets (VDAs) are by definition borderless and require international collaborations to prevent regulatory arbitrage. Therefore, any…
Diversify IT exports, reduce import duty, GTRI suggests
New Delhi: India should diversify its IT exports to mitigate risks arising from potential tariffs under the Trump administration as a significant portion of India’s IT export revenue comes from the US, think-tank Global Trade Research Initiative (GTRI) said Sunday….
UPL-SAS sees tech, climate solutions as key to growth after $200 mn investment
UPL-Sustainable AgriSolutions (UPL-SAS) is spearheading a transformative approach to Indian agriculture, leveraging technology, digital innovations, and a holistic strategy to address the complex challenges facing the country’s farming ecosystem, CEO Ashish Dobhal revealed in an exclusive interview. With agriculture spanning…
Don’t see any slowdown in public infra funding: Bentley Systems
Mumbai: Bentley Systems, the Nasdaq-listed infrastructure engineering software company, does not see any slowdown in India’s infrastructure spending which will help its India business grow faster than the average of the company, said a senior company official. Bentley Systems develops,…
PMJJBY has provided Rs 2 lakh life insurance coverage to over 21 crore beneficiaries: Finance Ministry
New Delhi: Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has provided Rs 2 lakh life insurance coverage to over 21 crore beneficiaries, ensuring financial security for families in times of uncertainty, the Finance Ministry said on Saturday. The Finance Ministry…
Compensation cess: GoM may seek more time to submit report
The group of ministers (GoM) on compensation cess will likely approach the GST Council, seeking an extension beyond the December 31 deadline to firm up its report, a person aware of the matter said. The 10-member GoM under Union minister…
Fitch slashes India’s GDP forecast to 6.4% for FY25. But it has few good things to say
India’s economic growth forecast for the financial year 2024-25 has been revised downward by Fitch Ratings, now standing at 6.4%, a drop from its earlier estimate of 7.0%. The downgrade follows the Reserve Bank of India’s (RBI) recent decision to…
NARCL has acquired 22 accounts with an exposure of Rs 95,711 cr
NEW DELHI: The Finance Ministry Thursday said that the National Asset Reconstruction Company Limited (NARCL) has so far acquired 22 accounts with an exposure of Rs 95,711 crore, and banks resolved 28 accounts worth Rs 1.28 lakh crore through other…
Govt seeks Parliament nod for Rs 44,143 crore extra spending in FY25
New Delhi: The government on Thursday sought Parliament’s nod for additional net expenditure of Rs 44,143 crore in the current fiscal, mainly on account of higher spending by agriculture, fertiliser and defence ministries. The first batch of Supplementary Demands for…
District adminstration should be involved in onion procurement: Ministry
NEW DELHI: The Union Agriculture Ministry has suggested that district administration should be involved in procurement of onion to ensure transparency and check irregularities in the purchase process. In a written reply to Lok Sabha, Minister of State for Food…
Need to look at India’s competitiveness with industry’s demand for higher tariffs: DPIIT secretary
Repeated requests from the industry to hike tariffs if the country is not competitive enough, need to be questioned amid India inking free trade agreements, Department for Promotion of Industry and Internal Trade (DPIIT) secretary Amardeep Singh Bhatia said Wednesday….
Gateways seek GST waiver on low-value commissions
Mumbai: Ahead of the GST Council meeting on December 21, payment gateway operators have made representations to the finance ministry against levying 18% GST on commissions earned on small-value digital payments up to ₹2,000, multiple people in the know said….
India sugar output to rebound to record next year, could revive exports
India is likely to produce a record amount of sugar in the next marketing year from October after millions of farmers expanded cane cultivation, encouraged by ample water supplies and declining prices of competing crops, farmers and industry officials told…
Rajasthan eyes AI township along Delhi-Mumbai expressway: Piyush Goyal
Jaipur: The Rajasthan government can explore establishing a township for data centres along the Delhi-Mumbai expressway in the state, Union commerce and industry minister Piyush Goyal said Monday. Addressing a session on manufacturing and industry 4.0 at the Rising Rajasthan…
inflation: India’s CPI inflation likely to ease to 5.5% in Nov from 6.2% in Oct: Morgan Stanley
Consumer Price Index (CPI) inflation in India is expected to decline to 5.5 per cent year-on-year in November, compared to 6.2 per cent in October, according to a recent report by Morgan Stanley. The report anticipated that the monthly index…
Need to go beyond ‘band-aid’ to address liquidity: Economists
Mumbai: The Reserve Bank of India (RBI) will have to infuse more liquidity into the banking system through additional measures as the expected impact of the 50-basis-point cash reserve ratio (CRR) cut announced Friday will likely wane within a few…
Budget 2025: CII urges govt to stick to fiscal deficit target
New Delhi: Industry body CII has suggested the government to stick to the fiscal deficit target of 4.9 per cent of GDP for 2024-25 and 4.5 per cent for 2025-26, cautioning that “overly aggressive targets” beyond these could adversely affect…
Tough to mop up taxman’s outstanding demand
The outstanding tax demand of the income-tax department has grown more than fourfold to ₹42 lakh crore as on October 1 this year, from ₹10 lakh crore in 2019-20, according to a report of the parliamentary standing committee on finance….
Union Budget: Budget 2025 expectations: Farmers seek cheaper credit, lower taxes, doubling PM-KISAN amount in pre-budget meet with FM Sitharaman
Farmer representatives and agricultural stakeholders urged the government to provide cheaper long-term credit, implement lower taxes, and double the PM-KISAN income support during a comprehensive pre-budget consultation with Finance Minister Nirmala Sitharaman on Saturday. The two-hour meeting saw a detailed…
The CRR cut now may deliver more than lower rates
Former Federal Reserve Chairman Ben Bernanke has a nickname: ‘Helicopter Ben.’ This he acquired not because he threw currency bills from the helicopter literally, but borrowed economist Milton Freidman’s metaphor to tell an audience how he would fight a depression…
RBI’s credit policy on expected lines, CRR cut to support growth: Experts
The Reserve Bank’s credit policy was on expected lines, and the reduction in the cash reserve ratio (CRR) would help support growth, after the sharp downward revision in the forecast for the current financial year, opined experts. The RBI on…
Tech to catch price trends in CPI revision
The government plans to switch to Computer-Assisted Personal Interviewing for collection of price trends, gearing up for revision of the base year to 2024 from 2012 and weightage of items tracked for Consumer Price Index to enhance the efficiency and…
‘Let go’: Country’s top economist drops big hint about the key focus area in the next budget
The Economic Survey 2024-25 will emphasize deregulation as a key strategy to boost job creation and enhance female workforce participation. Chief Economic Advisor (CEA) V. Anantha Nageswaran highlighted this theme during the Assocham Bharat@100 summit on Thursday, signaling a policy…
RBI on tricky terrain of high inflation and slowing growth
Mumbai: December 11, 10 am. The person in the 18th floor corner room of the central bank’s Mint Street Tower would have to deal with grim truths: a shadow of slowdown, a weaker currency, sticky inflation, and huge expectations to…
India US ties: Trump’s high tariff pledge will provide huge export opportunities for India: Niti Aayog CEO BVR Subrahmanyam
US President-elect Donald Trump’s pledge to impose high tariffs on three of its trading partners, including China will provide huge export opportunities for India and the domestic industry should prepare itself to tap into that, Niti Aayog CEO BVR Subrahmanyam…
Poor start to PM Internship scheme: Candidates back out after receiving offers
New Delhi: The pilot project of the PM Internship scheme has seen a number of candidates withdrawing after being offered internships, people aware of the development said. In the first week of companies extending offers under the scheme in November,…
Festivals lift India’s edible oil imports to 4-month high in November, dealers say
India’s edible oil imports in November jumped to their highest level in four months as refiners raised purchases of palm oil, soyoil and sunflower oil to replenish inventories after robust demand during festival season, five dealers said. Higher palm oil…
Weak Q2 GDP may prompt RBI to go for a CRR cut: Experts
Economists from major banks expect the Reserve Bank of India to lower the cash reserve ratio this week. This move would help support growth by providing liquidity without changing benchmark rates. The RBI might also use open market operations to…
India to revise GDP base year from 2011-12 to 2022-23
The Government of India is set to update the base year for calculating Gross Domestic Product (GDP) from 2011-12 to 2022-23, aiming to provide a more accurate representation of the country’s economic structure. This update is the first in over…
Growth seen at 6.1-6.8% for FY25 on 7-quarter Q2 low
A sharper-than-anticipated slowdown in economic expansion in the second quarter has prompted economists to slash their forecast on India’s growth for fiscal 2025. Citing risk to the economic outlook and the likelihood of a rate cut by the Reserve Bank…
RBI interest rate decision: RBI may continue status quo on interest rate, moderate GDP growth forecast: Experts
The RBI is likely to keep the benchmark interest rate unchanged for one more time in its bilateral monetary policy review later in the week as inflation has breached its upper tolerance limit and may also moderate the growth forecast…
Maize diversion for ethanol raises poultry feed, edible oil prices, sparking concerns for sugar industry, soybean farmers
Ethyl alcohol squeezed out of maize was supposed to make a dark fossil fuel slightly green— ethanol-blended petrol, the government said, would bring down dependence on crude oil imports and reduce carbon emissions. It has, however, cast a shadow on…
Central government capex to surge by 25 pc YoY in second half of FY25: Jefferies
The central government’s capital expenditure is expected to surge by an impressive 25 per cent year-on-year (YoY) in the second half of the financial year 2025, according to a report by Jefferies The report also noted that the overall expenditure…
GDP boom loses steam in Q2, growth at 7-quarter low
New Delhi: India’s economic growth slumped more than expected to a seven-quarter low of 5.4% in the September quarter, dragged down by weak manufacturing and tepid demand amid high inflation and elevated interest rates. An ET poll had forecast growth…
Potato prices surge in Odisha as West Bengal restricts supply
Potato prices increased marginally in Odisha during the last two days as West Bengal has imposed restrictions on the supply of kitchen essentials to the state, traders said. Hundreds of potato-laden trucks have been stranded near the Odisha-Bengal border as…
‘Trump a friend of India’: Union Minister Piyush Goyal
Commerce and industry minister Piyush Goyal Thursday termed the US President-elect Donald Trump as a “friend of India” and brushed aside apprehensions that the new administration may impose some tariffs on Indian goods, saying there was no need to “jump…
‘China plus one’ opportunity opening up for India; Tamil Nadu doing its best to attract FDI: Arvind Subramanian
New Delhi: ‘China plus one’ opportunity is opening up for India and Tamil Nadu is doing its best to take the state’s competitive advantage in attracting foreign direct investments, former chief economic adviser Arvind Subramanian said on Thursday. Addressing an…
Govt moves to fill 59% vacant independent director posts at CPSEs
About three in five independent director positions on the boards of various central public sector enterprises (CPSEs) are lying vacant, prompting the Centre to step up efforts to fill in the posts, people aware of the details said. As many…
India, Japan relatively shielded from US tariff risks, says Morgan Stanley
India and Japan are relatively shielded from the risks posed by US President-elect Donald Trump’s tariffs, according to a recent analysis from Morgan Stanley. The investment bank expects structural tailwinds and the continuation of favourable policy mixes in both Asian…
India red-flags non-tariff barriers, wants EU focus on market access
New Delhi: India has sought certainty from the European Union that the bloc will not impose new non-tariff barriers in future hurting the country’s interests. India’s insistence on such an assurance comes as the two sides assess the progress of…
AI in tax operations seen as a game changer by 94% of Indian CFOs, tax leaders
With GenAI storming its way into India Inc. operations, tax functioning is also expected to get a boost from this. Nearly 94 per cent of Indian CFOs and tax leaders recognized GenAI’s potential to significantly enhance tax functions and transforming…
India to go natural for farming. Cost: ₹2,481 crore
New Delhi: The government Monday announced a national mission to promote natural farming among 10 million farmers across the country with a budget outlay of ₹2,481 crore. The Cabinet decision aims at creating a robust system for sustainable farming. GoI’s…
S&P cuts India’s growth targets for the next two fiscal years
S&P Global Ratings on Monday retained India’s GDP forecast for the current financial year 2024-25 at 6.8 per cent while cutting economic growth forecasts for the next two years. For 2025-26 and 2026-27, the global rating agency pegged India’s GDP…
Gold holds up incremental value of forex reserves
The Reserve Bank of India’s gold purchases has helped the central bank to hold up foreign exchange reserves amidst a huge pullout by foreign portfolio investors that saw reserves contracting by $47 billion in five weeks. While the value of…
India Gate sets eyes beyond basmati, to foray into mixed spices, rice bran oil
KRBL Ltd, a publicly listed company popular for its ‘India Gate’ basmati rice, is foraying into mixed spices and rice bran edible oil segments. India Gate brand has already forayed into other premium non-basmati rice categories that typically sell at…
World Bank unveils reforms to enhance transparency
Our Bureau New Delhi: The World Bank has announced six reforms to address concerns about the Worldwide Governance Indicators (WGI) based on recommendations of an external review panel. The panel, commissioned in early 2023, submitted its report in September 2024….
RBI injects Rs 25,000 cr via VRR route to boost system liquidity
Mumbai: The Reserve Bank of India (RBI) injected funds into the banking system as the weighted average call rate, a barometer for short-term borrowing costs, rose 23 basis points above the policy repo rate at 6.73% on Friday. Surplus liquidity…
Forex reserves record biggest weekly drop as RBI moves to support Rupee
MUMBAI: India’s foreign-exchange stockpile shrank the most on record last week, surpassing the absolute decline last seen during the peak of the global financial crisis, as cushioning the rupee in the face of an unrelenting dollar surge after the US…
india pmi: Robust services drive India’s business activity to 3-month high in Nov, cost pressures grow
India’s business activity rose at its fastest pace in three months in November, helped by an improving services industry and record job creation, but output inflation spiked to a near 12-year high, a survey showed. The findings are likely to…
food inflation: Kitchen essentials buck slowdown trend: Hopes of demand recovery rise as staples segment sees double-digit growth in Sept qtr
Staples and essentials are largely bucking the consumption slowdown at mostly double-digit volume sales growth, which industry executives said indicates consumers are not cutting spending on daily household items unlike earlier periods giving hope to the industry that the demand…
Effective fiscal-monetary coordination was core for India’s success amid a series of adverse shocks: RBI Governor
Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized the critical role of fiscal-monetary coordination in navigating India through a series of external economic shocks. Speaking at the High-Level Policy Conference of Central Banks from the Global South in Mumbai,…
Apr-Sept coal imports up a tad at 129.5 MT
New Delhi: Coal import in April-September increased 1.4% year-on-year reaching 129.5 million tonnes (mt) compared to 127.8 mt in the corresponding period of the previous year. In value terms, imported coal in the said period amounted to ₹1.4 lakh crore,…
India-UK FTA talks: Both sides seek to bridge gaps to close deal expeditiously
India and the UK would seek to bridge the differences for expeditious conclusion of the proposed free trade agreement as Britain has announced resuming the negotiations early next year, an official statement said on Wednesday. British Prime Minister Keir Starmer…
Work begins on credit index for MSMEs to boost funding
New Delhi: The government has begun discussions with stakeholders, including banks and regulators, to develop a ‘Creditworthiness Index’ as part of its push to improve credit access for micro and small businesses. The proposed index will rate companies across industries…
Soil degradation on 30 pc of India’s land poses threat to agriculture: Agri minister
Agriculture Minister Shivraj Singh Chouhan on Tuesday expressed concern over soil degradation affecting 30 per cent of India’s land and stressed the need for urgent measures to maintain soil quality for sustainable farming. Addressing a global conference on soil through…
Capital restructuring norms for CPSEs updated to add value
The finance ministry on Monday tweaked norms for capital restructuring by central public sector enterprises (CPSEs) and introduced flexibilities for them to better add to their value creation strategy. It directed them to cough up an annual dividend of at…
₹69,000 crore vanishes in grain leakages: Where is India’s free ration going?
A staggering 28% of grains supplied through India’s Public Distribution System (PDS) never reach their intended beneficiaries and the economic loss to the exchequer is forecast at over ₹69,000 crore annually, a new report by the Indian Council for Research…
Taxman recovers Rs 35,500 crore outstanding from April to September
New Delhi: The Central Board of Direct Taxes (CBDT) has recovered ₹35,500 crore of outstanding dues for the April-September period of this financial year, ET has learnt. This includes ₹23,000 crore of corporate tax and ₹12,500 crore of personal income…
Own-source revenue for panchayats remains low at Rs 59 per capita
Own Source Revenue (OSR) generation for panchayats remains low, with the income through tax collected by the rural local governance bodies on an average being just Rs 59 per capita between 2017 and 2022, according to government data. Even as…
Indian economy well placed to handle any kind of spillovers from global events: RBI Guv
Kochi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said that the Indian economy and financial sector are well placed to handle any kind of spillovers from global events. The country’s external sector is also strong and our…
India least exposed to Trump’s trade policies, CLSA raises India’s overweight to 20 pc over China
New Delhi: India is emerging as one of the least affected markets in the region when it comes to former U.S. President Donald Trump’s trade policies, highlighted a report by global brokerage firm CLSA. The report stated that this resilience…
New senior citizens policy in the works after 25 years
New Delhi: Amit Yadav, secretary, ministry of social justice & empowerment, has said the government is drafting its first new senior citizens policy in 25 years and proposing amendments to the Maintenance and Welfare of Parents and Senior Citizens Act…
India in a sweet spot: Moody’s report highlights robust economic growth momentum amid inflation challenges
India’s economy is in a “sweet spot” from a macroeconomic standpoint, blending strong growth with easing inflation, according to a recent report by Moody’s. The ratings agency projects India’s GDP to grow by 7.2% in 2024, followed by 6.6% in…
Christmas orders push October goods exports to a 2-year high of 17.3%
New Delhi: India’s merchandise exports surged 17.3% on year – the highest in 28 months – to $39.2 billion in October, driven by improved demand from developed markets ahead of Christmas and higher shipments of engineering goods, chemicals and electronics….
Modest recovery in central capex in Q2FY25, states and corporate capex continued to decline: CareEdge Ratings
Mumbai: In the second quarter, India saw a modest recovery in capital expenditure (Capex), largely driven by a 10.3 per cent year-on-year increase in central government spending, according to CareEdge Ratings report. Though state-level spending continued to decline, dropping by…
‘Wait & watch’: India gearing up for any change in US policy, says CEA V Anantha Nageswaran
New Delhi: India is “better prepared” this time around for Donald Trump’s return to the White House, chief economic adviser (CEA) V Anantha Nageswaran said on Wednesday, cautioning against any “kneejerk reaction” to the current bout of stock market volatility….
If we exclude vegetable prices, CPI inflation remains in RBI’s range: UBI research
India’s retail inflation rose to a 14-month high of 6.21 per cent in October, up from 5.49 per cent in August. On the back of rising vegetable prices food inflation galloped and rose in double digits for the first time…