Page 7 - Economy News

RBI may pause on rate hikes at next meet also: ICICI official Prasanna

The central bank's surprise decision to hold its key repo rate steady, at 6.5 per cent

To boost production, govt may provide Rs 50/kg support for green hydrogen

The government plans to provide Rs 50 per kg of hydrogen in the first year and the support will be brought down to Rs 30 per kg of production in the third year

India's new trade policy: Blinded by local market, a dry recitation of laws

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

Fuels from Russian crude oil get backdoor entry into Europe via India

Access to cheap Russian crude has boosted output and profits at Indian refineries, enabling them to export refined products competitively to Europe and take bigger market share

Employers must seek employees preferred tax regime for deducting TDS: CBDT

The Central Board of Direct Taxes (CBDT) on Wednesday issued a clarification about Tax Deducted at Source (TDS) deduction by employers in the current fiscal

Stagnant milk output: Dairy imports may be allowed after a decade

India usually imports high-value milk products but not mass-consumed items

India services growth slows down in March after 12-year high in Feb

No change in employment seen neither in services nor in manufacturing, says PMI survey

RBI should prioritise inflation over growth, say FinMin officials

The RBI has a mandate to keep retail inflation at 4 per cent within a band of 2 percentage points on either side

New projects hit Rs 12.3 trillion in March quarter on large orders

Analysts say slowing growth globally may limit future investments

Global trade growth expected to be subpar at 1.7% in 2023: WTO

With this, the trade growth is below the 12-year average of 2.6 per cent since the trade collapse that followed the global financial crisis in 2008

Govt may import dairy products on tight supply amid stagnant milk output

The government will intervene to import dairy products like butter and ghee, if required, after assessing the stock position of milk in Southern states, where the flushing season has started now

Inflation is driving boom in secondhand shopping, $177 bn global sales

The shoppers most attracted to resale are members of younger generations, mainly Gen Z

India has trade deficit with China in electronics, computer hardware

The major commodities in which India has a trade deficit with China include electronic components, computer hardware, telecom instruments, industrial machinery for dairy and organic chemicals

Financials, IT aid rise in Indian shares ahead of RBI rate decision

The Nifty 50 closed 0.91% higher at 17,557.05, while the S&P BSE Sensex rose 0.99% to 59,689.31. Both the benchmarks have extended gains for a fourth session in a row

RBI monetary policy: Will the central bank hike repo rate again tomorrow?

RBI MPC: If the RBI announces another rate hike tomorrow, it will take the repo rate to the highest level since April 2016, when it was 6.75 per cent

Transition to vulnerable employment subsides in recent years: Report

Fewer distress-induced job transitions occurred in Q2CY2021, and only around 20 per cent of salaried and self-employed workers transitioned either into casual-wage work or exited the labour force

Floor mats for four-wheelers to attract 28% GST, says Gujarat AAR

The applicant, a manufacturer, had argued that 18% GST should be applicable

More than Rs 40,700 crore sanctioned under Stand-Up India Scheme in 7 years

The scheme aims to promote entrepreneurship at the grassroot level focusing on economic empowerment and job creation and has been extended up to the year 2025

India's services PMI rises for 20th consecutive month but lower than Feb

In February, the service sector PMI was at a 12-year high of 59.4

Windfall tax on domestic crude oil cut to nil, on export of diesel halved

This means crude oil, aviation turbine fuel (ATF), and petrol will not attract windfall tax