India Economy

Economic policy tradecraft cannot be executed with inferiority complex that constantly requires divisive religio-cultural and ethnic grievances to be sated

Three hoops to jump to be convinced that torrid growth will come

Move over Reserve Bank of India. It's the commercial banks, which are creating money and moving the economy

India's trade policy remains blinded by its huge domestic market. This was underlined last week when the govt released its latest trade policy - three years late

Catch all the latest updates from across the globe here

Retail inflation for agricultural and rural workers increased to 6.94 per cent and 6.87 per cent, respectively, in February 2023, due to increases in prices of medicines, doctor's fees, and bus fares, among others, an official statement said. Point to point rate of inflation based on the CPI-AL (consumer price index for agricultural labourers) and CPI-RL (rural labourers) were at 5.59 per cent and 5.94 per cent, respectively in January 2023, the Ministry of Labour and Employment said. Inflation based on CPI-AL and CPI-RL were 6.85 per cent and 6.88 per cent in January 2023. The all-India CPI-AL and CPI-RL increased by 1 point each to stand at 1,171 and 1,182, respectively. The maximum upward pressure on general index of AL and RL came from miscellaneous group to the extent of 0.93 and 0.98 points respectively mainly due to increase in prices of medicine, doctor's fee, barber charges, bus fare, washing shop, cinema ticket, etc," it said. The maximum increase in the CPI numbers for

Indian economy is expected to grow at 7 per cent in FY23 despite global headwinds while retail inflation would moderate in line with wholesale inflation which fell to a 25-month low in January, the Finance Ministry said on Monday. Supported by the gains from high services exports, the moderation in oil prices, and the recent fall in import-intensive consumption demand, India's current account deficit is estimated to fall in FY23 and FY24, providing a buffer to the rupee in uncertain times, Monthly Economic Review by the ministry said. This will provide a much-needed cushion to India's external sector at a time when the Fed is likely to raise rates further and ensure that India's external finances are not a major cause of concern, it said. The jump in net service exports over the previous year is a critical development as India increases its market share in both IT and non-IT services, whose demand has been triggered by the pandemic, it said, adding, imports are also less costly now

Urges financial sector to re-engineer processes to pare costs, speed up credit for small businesses; extols India's digital thrust as model for the world, lauds credit schemes for micro entrepreneurs

The country's economic slowdown late last year will be temporary and even salutary, helping to wring some of the demand-side pressures out of the economy without stopping it wholesale

With this, the monthly GST revenues remained over Rs 1.4 trillion for 12 straight months

The blue economy occupies a vital position in India's economic growth and it could well be the next multiplier of GDP and well-being, provided sustainability and socio-economic welfare are kept at the centre stage, said CAG G C Murmu on Monday. India has a 7,517 km long coastline that is home to nine coastal states and 1,382 islands. The coastal economy sustains over 4 million fishermen and other coastal communities. There are nearly 199 ports, including 12 major ports that handle approximately 1,400 million tons of cargo each year, Comptroller & Auditor General of India (CAG) said at a seminar on the challenges and opportunities in the Blue Economy. Moreover, he said, India's Exclusive Economic Zone of over 2 million square kilometres has a bounty of living and non-living resources with significant recoverable resources such as crude oil and natural gas. "With these vast maritime interests, the blue economy occupies a vital potential position in India's economic growth. It could .

Friday marks the one-year anniversary of the Russia-Ukraine war, have a look at how the conflict that nobody believed would last this long changed the world

"You don't need to keep on raising nominal rates as long as inflation does not come down because then you will definitely overshoot in terms of real rates," Goyal said

Citigroup economists on Wednesday raised their global growth forecast slightly and see a "less hard" landing but still expect the world's economy to grow at the slowest pace in 40 yearsq

Never mind work-life balance: this generation spends more time on the job than ever before

In a Q&A, Ajay Seth says while the global macro-economic situation has improved over the past few months, headwinds on inflation and other indicators persist

Key concern: Gap between industry requirement and what's taught

The Reserve Bank of India, which has raised borrowing costs six times since May to 6.50%, is seen increasing interest rates again in its April review amid inflation topping estimates

Samsung Electronics plans to borrow more than $15 billion from its display-making subsidiary to secure operational costs, the company has said.

Pakistan poli­ti­cal economist Per­vez Tahir has called for revival of trade with India to decrease people's woes, local media reported.