Economy

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.”

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.

Govt promises diplomatic interventions to get P&K fertilisers imports at reasonable rates

With the imposition of countervailing duty by the US on imports from Morocco and Russia, there is a realignment of the supply chain with the Middle East diverting the supplies to the US, they said.

In the meeting chaired by Fertiliser Minister D V Sadananda Gowda, the issue of increase in prices of P&K fertilisers were discussed in "length" and understood concerns of the companies with regard to rising global prices of raw materials.

India’s palm oil imports rise 56.50 pc in March

Among soft oils, the import of sunflower oil declined to 1,46,970 tonne in March due to high prices as against 2,95,387 tonne in the same period last year.

IIP data must change for the better; infra investment to drive growth

Apart from a few segments led by automobile, tractors, 2 wheelers and FMCG products, the other segments of industry are yet to swim into the positive territory.

steel

Who is afraid of India’s fiscal policy?

With little resources to tackle the pandemic and kick-start economic recovery, India should receive debt relief in exchange for a commitment to align economic policies and newfound spending capacity w

Centre’s tax revenue grows in pandemic year

Post-devolution, Centre nets Rs 14.2 lakh crore in FY21, up 5% on year

India, EU to resume formal FTA talks in May

After a gap of about eight years, India and the EU will resume formal negotiations for a trade and investment agreement on May 8, with both sides aiming to expedite a deal to aid economic growth in th

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