Page 10 - Economy News

Russia pulls off revolution in India's overall crude oil basket

Oil supplies from Russia surged after the G7's stringent sanctions, relegating traditional suppliers Iraq and Saudi Arabia to second and third place

Direct govt purchases play a diminishing role in GeM transactions

Value of transactions has crossed over Rs 2 trillion in 2022-23

India's unemployment rate rises to 3-month high of 7.8% in March: CMIE data

Higher borrowing costs are already weighing on India's economy, data show

Untimely rains hit wheat crop over 523k hectare; farmers stare at loss

Untimely rains, hailstorm and strong winds have impacted wheat crop across more than 523k hectare in three states, triggering fears of huge yield loss for farmers and harvesting challenges

BPL families, Ujjwala beneficiaries to get gas cylinder at Rs 500 in Raj

Families below the poverty line (BPL) and beneficiaries of the Ujjwala scheme in Rajasthan will now get LPG cylinders for Rs 500, with CM Ashok Gehlot approving a financial proposal of Rs 750 crore

India has robust commercial systems giving confidence to investors: FM

FM Nirmala Sitharaman said that it is now agreed during the negotiations of bilateral trade treaties that India has a better robust commercial system giving investors the confidence they need

G20 Sherpa meeting: Some nations pull up G7 over global banking crisis

The concluding day of the meeting of Sherpas, who act as envoys of G20 heads of states, saw a session on the global macro-economic situation, where the financial crisis and its impact were discussed

India's defence equipment exports reach Rs 16,000 crore this year

This amounts to a ten-fold increase since 2016-17, when exports were Rs 1,521 crore

Unemployment rate rises to 3-month high of 7.8% in March, says CMIE

India's unemployment rose to a three-month high in March to 7.8 per cent as the country's labour markets deteriorated, according to data from the Centre for Monitoring Indian Economy (CMIE)

Global uncertainties hit office demand, gross leasing falls: Colliers India

India's office demand has been affected by global economic uncertainties with gross leasing of workspace falling 19 per cent in January-March across six major cities, according to Colliers India

Online platform soon for amnesty scheme benefits: DGFT SK Sarangi

'There are other sectors, such as engineering goods, agriculture, food processing, where the potential is very high'

India and Malaysia can now use Indian rupee to settle trade, says MEA

"Trade between India and Malaysia can now be settled in Indian Rupee (INR) in addition to the current modes of settlement in other currencies," the MEA said

Govt's total liabilities rise 2.6% to Rs 150.95 trn in Q3FY23: Report

In absolute terms, the total liabilities, including liabilities under the 'Public Account' of the government, jumped to Rs 1,50,95,970.8 crore at the end of December 2022

Tech spending in India poised to grow by 9.6% this year, shows report

According to the report, tech outsourcing and hardware maintenance will see sharp growth

Spread between state, Centre bond yields to widen in FY24: Analysts

Citi expects states to borrow around 8.7 trillion rupees, and the crowding out is likely to prompt investors to demand higher returns for state bonds

Rupee weakens 7.8% against US dollar in FY23, most in three years

The rupee closed FY23 at 82.18 to a dollar, against 75.79 a year ago

Govt falls short of disinvestment target, posts stronger dividend receipts

The dividend receipts from CPSEs grew more than 37 per cent to Rs 58,988 crore against the Revised Estimates (RE) target of Rs 43,000 crore

Fiscal deficit at 82.8% of Revised Estimates till February: Govt data

Total expenditure of Rs 34.93 trillion for April-February FY23 was 83.4 per cent of the RE

India's current account deficit declines to 2.2% of GDP in Q3FY23

Private transfer receipts, mainly representing remittances from Indians employed overseas, amounted to $30.8 billion, an increase of 31.7 per cent per cent YoY

Core sector output slows to 3-month low of 6% in Feb, crude production dips

Six of eight key infrastructure industries report sequential deceleration