Economy

Commerce Ministry to meet exporters on April 20 to discuss export scenario

Confirming the meeting, Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said that the ministry holds these meetings regularly to discuss issues of exporters and ways to further increase outbound shipments.
The country's exports surged by 60.29 per cent to a monthly record high of USD 34.45 billion in March on growth in sectors such as engineering, gems and jewellery and pharmaceuticals, even as the outbound shipments contracted by 7.26 per cent during the full 2020-21 fiscal to USD 290.63 billion.

India’s power consumption grows nearly 45 pc in first half of April

The peak power demand met, which is the highest supply in a day, during the first half of this month remained well above the highest record of 132.20 GW in the same period in April 2020.

power consumption, power demand, industrial and commercial demand of electricity,, power consumption in April, impact of lockdown on economic activities.

IMD Forecast: Normal, dispersed monsoon seen

A timely boon for rural India, but farm-gate prices hold the key

Adar Poonawalla urges US to lift ban on jab material exports

SII has committed to make 1 billion doses of Covavax and the company has to supply 500 million doses of this globally through GAVI.

Poonawalla on Friday tweeted, “if we are to truly unite in beating this virus, on behalf of the vaccine industry outside the U.S., I humbly request you to lift the embargo of raw material exports out of the U.S. so that vaccine production can ramp up. Your administration has the details.”

Indian economy in better shape compared to previous COVID-19 wave: CEA

Subramanian further said "one key thing that stood out during this pandemic is the rollout of e-commerce and digitisation, something that India has embraced."

Speaking at an event organised by e-commerce major Amazon, he said uncertainty is much lower this time but people should be cautious.

Forex reserves surge by USD 4.34 bn to USD 581.21 bn

In the reporting week ended April 9, 2021, the increase in forex reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like euro, pound and yen held in the forex reserves.

Second wave of COVID-19 poses risk to economic recovery; Q4 GDP to be hit, says BofA Securities report

The spike in coronavirus cases poses a risk to economic recovery, and the GDP is unlikely to achieve the earlier projected 3 per cent growth for March quarter 2020-21, Wall Street brokerage Bank of Am

Covid second wave, bank of america securities, Wall Streat Bokerage, anaemic loan growth, GDP growth, BofA India activity indicator , nominal marginal cost of funds based lending rate , MCLR

Exports rise to USD 13.72 bn during Apr 1-14: Commerce Ministry data

The country's exports have increased to USD 13.72 billion during April 1-14 this year on account of healthy growth rate in sectors such as engineering and gems and jewellery, according to the provisio

Commerce ministy, exports, provisional data of the Commerce Ministry, COVID-19 related lockdown, export rise, outbound shipments contracted

Ajay Seth takes over as new Economic Affairs Secretary

Ajay Seth, a 1987 batch IAS officer of Karnataka cadre, on Friday assumed charge as Secretary Economic Affairs at a time when the economy which was showing signs of recovery is being threatened by the

ajay seth

China’s GDP surges to record 18.3 per cent in Q1

Output by major industrial firms increased by 14 per cent compared with the first quarter in 2019, resulting in an average year-on-year Q1 growth of 6.8 per cent over the past two years, the Xinhua re

CHINA GDP

China’s economic growth surged to 18.3 per cent as activity revived

The figures reported Friday were magnified by comparison with early 2020, when the world's second-largest economy fell into its deepest contraction in decades.

china economy

Costlier crude, low base: WPI inflation shoots up to 8-year high of 7.39%

Rise in prices of some manufactured goods and food items like pulses and fruits also pushed the index.

Amid Covid surge, states seek free grain supply from Centre

However, the free foodgrains to all the beneficiaries under the National Food Security Act (NFSA) during April-November last year was a huge success with 32.2 million tonne of food grains lifted by st

Only seven states and union territories, including Rajasthan, Haryana and Himachal Pradesh had distributed 50% or more of the allocated grains to migrant workers.

RRA 2.0: RBI sets up regulatory review authority to review regulations, ease compliance

Accordingly, the RRA 2.0 will function for a period of one year from the date of its establishment to review the regulatory prescriptions internally as well as by seeking suggestions from regulated en

The central bank had set up an RRA initially for a period of one year from April 1, 1999 for reviewing the regulations, circulars, reporting systems, based on the feedback from public, banks and financial institutions.

RBI sets up RRA to streamline regulations and reduce compliance

"The RRA will engage internally as well as externally with all regulated entities and other stakeholders to facilitate the process," the central bank said.

The panel will recommend ways to make regulatory and supervisory instructions more effective by removing redundancies and duplications.

Exports jump 60 pc in March; falls over 7 pc to USD 290 billion in FY21

Trade deficit during March 2021 widened to USD 13.93 billion from USD 9.98 billion in March 2020. The trade deficit during the full fiscal, however, narrowed to USD 98.56 billion as against USD 161.35

Trade deficit during March 2021 widened to USD 13.93 billion from USD 9.98 billion in March 2020.

Elevated public debt in FY21 matter of concern: Report

She also said in the medium term government will have to work towards moving along the fiscal consolidation path at a pace in sync with the pace of growth rather than sticking to a more relaxed path a

UBS estimates indicate that even if the gap between the two series (interest rate and growth) turned positive for a brief period in 2020-21, it will normalise in 2021-22.

India Inc’s outward FDI halves to $1.93 bn in March

Of the total investment committed by the Indian investors in their foreign joint ventures/wholly owned subsidiaries in March this year, USD 1.15 billion was in the form of issuance of guarantees.

In the preceding month (February 2021), the OFDI stood nearly the same at USD 1.95 billion.

WPI inflation spikes to over 8-year high of 7.39% in March

Inflation in the fuel and power basket was 10.25 per cent in March, against 0.58 per cent in February, mainly on account of rising prices of petrol and diesel.

inflation

Non-food credit growth slips below 6%

In a report earlier this month, analysts at Kotak Institutional Equities (KIE) pointed out that corporate loan growth has been in negative territory since September 2020.

The fall in corporate borrowing has also been weighing on loan growth.

Green hydrogen auctions, purchase obligations in the offing

Sources said plans were also afoot to make it mandatory for user industries like fertilisers and petroleum refineries to purchase 10% of their hydrogen requirements from domestic green hydrogen source

Apart from industrial use, hydrogen technology can also be used to store electricity and potentially to run vehicles.

Niti Aayog inks pact with Dassault Systemes Foundation to support entrepreneurs

The AIM’s Atal Tinkering Labs (ATLs) has played a pivotal role in fostering creativity and imagination amongst schoolchildren, and Dassault Systemes Foundation will contribute to ATL in three broad

Through this collaboration, the AIM and Dassault Systemes Foundation shall jointly encourage inter-country collaborations amongst schools and school students for collaborative science/technology learning, skilling and cultural interactions amongst students.

88% Indian CEOs confident on global economic improvement in a year: PWC

According to the PWC’s 24th Global CEO Survey, 88% of India CEOs are confident about global economic growth improving over the next 12 months, while 70% are confident about their revenue growth in t

The strong economic performance of the US on the back of a large stimulus and less disruptive decision-making will provide an additional boost to the exporting companies.

India allows additional 3,675 tonnes of sugar export to UK under concessional duty quota

TRQ (Tariff-Rate Quota) is for a volume of exports that enter the UK at relatively low tariffs. After the quota is reached, a higher tariff applies to the exports.

This additional quantity of sugar is beyond the EU?(European Union) CXL sugar quota of 10,000 tonnes during 2020-21 notified by the DGFT last year.
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