Economy

India-China trade deficit stands at USD 30 bn during April-September

India's exports to China during the April-September 2021 period was USD 12.26 billion, while imports were aggregated at USD 42.33 billion, according to data given by Minister of State for Commerce and

Schemes like the production-linked incentive scheme will help promote domestic manufacturing capacities and attract investment and reduce dependency on imports from China, the minister said.

States debt-to-GDP ratio worryingly higher than FY23 target, says RBI report

The RBI report noted that the budgeted consolidated gross fiscal deficit (GFD) of 3.7 per cent of GDP for states for the year 2021-22 - lower than the 4 per cent level as recommended by the FC-XV (15t

The report said undertaking power sector reforms will not only facilitate additional borrowings of 0.25 per cent of GSDP (Gross State Domestic Product ) by the states but also reduce their contingent liabilities due to improvement in financial health of the DISCOMs.

I-T refunds of over Rs 1.29 lakh cr issued between April-November

"CBDT issues refunds of over Rs. 1,29,210 crore to more than 1.15 crore taxpayers from 1st Apr 2021 to 29th November 2021," the I-T department tweeted.

This includes Rs 16,691.50 crore worth refunds to 79.70 lakh taxpayers for Assessment Year 2021-22.

Indian economy in strong position, says BJP as GDP grows at 8.4%

COVID-19 adversely affected economies around the world, including India, he said, praising the way Modi handled the crisis and initiated policy measures to "convert the adversity into an opportunity".

Indian economy remained on track to post the fastest growth among major economies this year as its GDP expanded by a better-than-expected 8.4 per cent in the July-September quarter to cross pre-pandemic levels.

Impact of Omicron on emerging economies to depend on restrictions, policy support: Moody’s

The emergence of the new variant poses new risks to the global economic growth and inflation outlook, as concerns mount about the variant's health risks and several countries have imposed new travel r

indian economy

West Bengal secures $135 million World Bank loan to upgrade rural power distribution network

The IBRD and its concessional lending arm, the International Development Association (IDA), are collectively also called the World Bank.

power

Power consumption rises 3.6 pc to 100.42 BU in November

The country's power consumption had grown by 3.9 per cent in October this year to 113.40 BU compared to 109.17 BU in the same month last year.

Power consumption

India’s manufacturing sector gain further strength in November on strong rise in production, sales: PMI

The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI), increased from 55.9 in October to 57.6 in November, signalling the strongest improvement in the health of the s

India PMI

GDP likely to grow more than 9.5% in FY22: Report

The economy grew at 8.4 per cent in the second quarter of the current fiscal, according to data released by the National Statistical Office (NSO) on Tuesday. The growth in the April-June quarter of th

india GDP

Modest recovery: India GDP grows at 8.4% in Q2

Unless the new coronavirus variant Omicron plays havoc, the economy may remain on the path of recovery through the second half.

inflation, gdp

No separate norm but I-T rules cover crypto income: FM

Nevertheless, extant statutory provisions clearly envisage that total income for the purpose of taxation will include entire income from all sources, according to her reply in the Rajya Sabha.

However, eight cases of cryptocurrency-related fraud are under investigation by the enforcement directorate, she added.

Robust recovery: Expect double-digit growth in FY22, says CEA

Various independent agencies, including the International Monetary Fund, have projected India's growth in the range of 8.7%to 9.4% in FY22.

Centre’s fiscal deficit at just 36% of FY22BE in Apr-Oct

Both revenues and expenditures are seen overshooting the respective budget targets by `1.5-2 lakh crore each in the current fiscal year, allowing the deficit target of 6.8% of the GDP to be met.

The corresponding figures for the comparable periods in FY21 and FY20 were 119.7% and 102.4%, respectively.

Govt approves continuation of Scheme for Investment Promotion for 5 years

The scheme comprises a number of components and activities for the promotion of investment into the country.

Scheme for Investment Promotion

Meeting the IMF, RBI forecast of 9.5% GDP growth this year now a challenge, says Dr Rangarajan

Dr Rangarajan feels that perhaps we may end the year with GDP growth in the region of 7 or 8 per cent.

India to log double-digit growth this fiscal: CEA K V Subramanian

India's GDP growth stood at 8.4 per cent in the second quarter of 2021-22, with the economy surpassing the pre-COVID level, official data showed on Tuesday.

Nearly 10 crore unorganised sector workers registered on e-Shram portal

The e-Shram portal was launched in August this year for creating national database for unorganised workers to provide them benefits of various social security schemes run by the government.

Unemployment rate at 9.3% in Jan-Mar 2021: NSO survey

The UR for in CWS (current weekly status) in urban areas for persons of age 15 years and above was 10.3 per cent in October-December 2020, the ninth Periodic Labour Force Survey (PLFS) showed.

S&P keeps India GDP growth forecast unchanged at 9.5% in FY22

The gradual lifting of the restrictions has helped the economy to rebound from pandemic lows.

Eight core industries output up 7.5 pc in October

The production of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 0.5 per cent in October 2020, according

Core sectors' growth stood at 4.5 per cent in September this year. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

Retail inflation for industrial workers rises marginally to 4.5 pc in Oct

"Year-on-year inflation for the month stood at 4.50 per cent compared to 4.41 per cent for the previous month and 5.91 per cent during the corresponding month (October 2020) a year before," the labour

The all-India CPI-IW (Consumer Price Index-Industrial Workers) for October 2021 increased 1.6 points and stood at 124.9 points. It was 123.3 points in September 2020.

Centre’s fiscal deficit at Rs 5.47 lakh cr at end-Oct, 36pc of FY22 estimate: CGA

The deficit figures in the current fiscal appear better than the previous financial year when the gap between expenditure and revenue had soared to 119.7 per cent of the last year's Budget Estimates (

The fiscal deficit for 2020-21 was 9.3 per cent of the GDP. (Representative image)

Inflation across eurozone hits record high of 4.9%

The core inflation rate, which strips out potentially volatile items such as alcohol, energy, food and tobacco, also spiked higher in November to an annual rate of 2.6% from 2%.

euro inflation

Govt’s excise mop-up from petrol, diesel doubles to Rs 3.7 lakh crore in FY21; states get Rs 20,000 crore

While the total incidence of excise on petrol currently is Rs 27.90 a litre and that on diesel is Rs 21.80, states are entitled to get a share only from the basic excise duty.

Petrol Diesel

No specific direction given to banks not to give loans to sensitive customers like police personnel, says Nirmala Sitharaman

Sitharaman, during Question Hour in the Rajya Sabha, said there is no "official stated policy" directing banks not to give loans to certain categories of customers.

Nirmala Sitharaman

India GDP Highlights: India’s GDP expands 8.4% in July-September quarter; economists see some challenges ahead

India GDP Highlights: India's economy continued to expand after having dealt with the economic disruption seen during the covid-19 aided lockdown.

India GDP, India Economy

Centre committed to compensate states for 5 years for revenue loss due to GST roll out: FM Sitharaman

Sitharaman said Rs 37,134 crore and Rs 14,664 crore worth GST compensation is yet to be released to states for 2020-21 and 2021-22 fiscal years respectively.

Nirmala Sitharaman 02
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