Page 3 - Economy

Pension scheme for unorganised workers being evaluated: Govt to House panel

Against an enrollment target of 10 mn beneficiaries in each of the financial years starting 2020-21, only 522,868 workers were enrolled in the scheme in the past three years till Dec 2022

Volatile political situation in Pakistan delaying IMF deal: Report

The current volatile political situation in Pakistan has become a factor in delaying a much-needed deal with the Washington-based IMF that may stabilise the cash-strapped country's economy, according to a media report on Wednesday. Pakistan's economy is in dire straits. The country is awaiting a much-needed USD 1.1 billion tranche of funding from the International Monetary Fund (IMF). The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations. Quoting diplomatic sources, the Dawn newspaper reported that global lenders, particularly the IMF, are seeking assurances from Pakistan that the future political setup in the country will respect any deal they sign with Islamabad. Pakistan and the IMF have been negotiating the resumption of an installed USD 7 billion IMF programme for months but have yet to reach an agreement. Last week, Finance Secretary Hamed Yaqoob Sheikh

Ukraine war: Is India complying with the Russian crude oil price cap?

Uncertainty about how much India pays is part of the murkiness around Russian oil flows more generally, as the trade shifts from the Atlantic basin to Asia and from large traders to smaller entities

IMF treating cash-strapped Pakistan like a 'colony': Maryam Nawaz

Pakistan is a "hostage" to the IMF which is treating the cash-strapped country like a "colony", senior leader of PML-N Maryam Nawaz has said while lambasting former prime minister Imran Khan for flouting the previous agreements with the global lender. Pakistan's economy is in dire straits. The country is awaiting a much-needed USD 1.1 billion tranche of funding from the Washington-based International Monetary Fund (IMF). The IMF is not ready to trust us. Pakistan is a hostage to the IMF and it is treating the country like a colony. Even if we try to come out of its clutches, we can't, Pakistan Muslim League (N) (PML-N) leader Maryam said while addressing the youth and social media activists in Model Town here on Monday. She castigated Pakistan Tehreek-i-Insaf chairman Imran Khan for flouting the previous IMF agreement, the Dawn newspaper reported. Because of this today we are begging for Rs 1 billion, the 49-year-old leader said. She drew the comparison of her father Nawaz Sharif'

Manufacturing output in IIP still shows weakness as headline numbers grow

One reason for decline is muted domestic demand, particularly in rural areas due to high inflation

We hope RBI will opt for a pause on rate hikes: CII president Sanjiv Bajaj

Inflation is coming under control. You've got all the right tailwinds for growth. And so we hope that RBI will take a pause on rate hikes, says Sanjiv Bajaj, President, CII

China could control a third of the world's Lithium supply by 2025: UBS AG

The bank expects Chinese-controlled mines, including projects in Africa, to raise output to 705,000 tons by 2025, from 194,000 tons in 2022

FinMin pushes PSBs to enhance procurement via GeM to Rs 10,000 cr in FY24

GeM Sahay to provide short-term loans to all sellers

Govt panel concludes stakeholder discussion on digital competition law

Govt panel concludes stakeholder discussion on digital competition law

India, Australia pledge to boost economic and security relations

After the first India-Australia summit talks, Albanese said both sides are looking at firming up the CECA by 2023

India's exports growth momentum will have to come from its states

They can utilise opportunities for greater market access generated by free trade agreements

India and Australia plan military drills to boost defence ties over cricket

Australian Prime Minister Anthony Albanese announced new military exercises to be held with Indian forces in a speech on board the INS Vikrant aircraft carrier on Thursday

On the new Delhi-Mumbai expressway, a battle between the heart and the mind

If you are going to Jaipur from Delhi, the new stretch of the National Expressway 4 (NE4) makes the journey more enjoyable than the destination

Japan's economy struggles to eke out growth, shows fragile recovery

Japan's economy grew at an annual pace of 0.1 per cent in October-December, in a downgrade from an earlier 0.6 per cent increase, showing how the world's third-largest economy was barely eking out growth. The Cabinet Office's revised figure for seasonally adjusted gross domestic product, or GDP, for the last three months of 2022 showed growth on quarter was flat, down from an earlier estimate given in February at 0.2 per cent growth. The annual rate shows what the growth would have been if the on-quarter rate continues for a year. Domestic demand shrank 0.3 per cent, worse than the earlier release, showing a 0.2 per cent decline, according to the data released Thursday. Public demand stood unchanged from the initial figure at plus 0.3 per cent. The latest numbers underline Japan's fragile recovery, although the easing of restrictions related to the coronavirus pandemic has helped. Japan has struggled over a shortage of imported parts from China, and the rest of Asia, such as compu

UK looks to ease immigration rules for foreign workers to plug shortages

The Migration Advisory Committee has recommended that tradespeople including carpenters, bricklayers and roofers should be added to the "shortage occupation list"

Maharashtra economy to grow by 6.8% in 2022-2023: Economic Survey

The tax and non-tax revenues including central grants for 2022-2023 (BE) are RS 308,113 crore and Rs 95,314 crore respectively

EPFO board likely to decide interest rate for FY23 on March 25, 26

Sources said that the interest rate is unlikely to go below 8 per cent level amid a rising interest rate scenario across the globe

Asia's very complicated interest-rate pause and sticky inflation

All central banks assert they move independently from the Fed. In practice, they tend to replicate broad trends in American credit

China sets economic growth target at 5% for 2023, lowest in over 25 years

China unveiled its lowest growth target in more than a quarter-century as Beijing faces challenges in the domestic and global economy

Before economy regains pre-Covid trend line, slowdown may be setting in

Domestically, consumption momentum is clearly fading, and capex could follow suit amid slowing prices, rising cost of capital and slowing consumption and exports, it added