Economy

Donald Trump says he could impose more China tariffs

Trump and Xi called a tariff ceasefire and agreed to resume trade talks after meeting at the Group-of-20 summit in Japan in late-June, breaking a six-week stalemate.

Donald Trump, China tariffs, Xi Jinping, Chinese imports, US farm goods, Steven Mnuchin, China economy, US china trade war News

Kharif crop output might be steady this season: ICAR

India had produced a record 142.75 million tonne (MT) of foodgrains — rice, wheat, pulses and coarse cereals — in 2018 kharif even as the monsoon was 9% below normal.

Kharif crop, Kharif crop in india, Kharif season, icar, foodgrain, rice, wheat, pulses, coarse cereal, economy news

Monetisation: FCI to lease out warehouses

Given the National Food Security Act and the government's plan to double farmers' income by 2022, the costs of procurement and storage of grains could rise further in the coming years.

Monetisation, FCI,FCI warehouse, warehouse lease out, food corporation of india, food corporation, economy news, food grain News

Government signs contracts for 32 hydrocarbon blocks under OALP

HELP’s hallmarks are single licence for exploration of all forms of hydrocarbons (including shale gas and CBM), a simple revenue-sharing model, and marketing and pricing freedom for the developers.

Government, contract, hydrocarbon block, OALP, Oil India, Vedanta , ONGC , Indian Oil Corporation, HELP, Hydrocarbon Exploration Licensing Policy, Dharmendra Pradhan, economy news

Reforms agenda to be included in power distribution guidelines

The minister wants the new perspective plan to also include power sector ‘Reforms 2.0’, which sources say, are managerial suggestions — such as franchisee business model.

Reforms agenda, power distribution guideline, power distribution, CEA, Central Electricity Authority, economy news, industry news

Need to tap foreign capital to accelerate growth to 8%: CEA K V Subramanian

On the merger in the public sector banks, Subramanian said they are being done based on synergies, and policy is to exploit economies of scale.

Achieving USD 5-trillion economy by 2024-25 is possible although the goal is slightly stretched, he said. (Representational image) News

Christine Lagarde resigns as IMF MD

The relinquishment of my responsibilities as Managing Director announced previously will remain in effect until then," Lagarde said in a statement. David Lipton remains the IMF Acting Managing Directo

Economy News

No changes planned in multi-brand FDI policy: Piyush Goyal

Piyush Goyal, who is in the UK on a three-day visit concluding on Tuesday, addressed the India-UK Joint Economic and Trade Committee (JETCO) on Monday

Piyush Goyal, union minister piyush goyal News

Local sourcing norms for FDI in single-brand retail to be eased in few weeks: Piyush Goyal

The government in Budget proposed that local sourcing norms will be eased for FDI (foreign direct investment) in single brand retail sector.

Economy News

Ravi Shankar Prasad exhorts CSCs to aim for transaction turnover of Rs 3 lakh crore in 5 years

The two sides agreed to facilitate distributors to avail various services through these centres including booking new LPG connection (Ujjwala & General category), booking of LPG refills and supply an

Economy News

Trade deficit may have shrunk in Q1 FY20, but India must watch for these factors going ahead

Even as the trade deficit narrowed in the last month, the economy needs to be watchful going ahead, analysts said.

The dollar traded at 107.83 yen, having been nudged off a 12-day high of 108.535 scaled at the start of the week. (File photo) News

Taxmen detect Rs 37,946 crore fraud in FY19

Thakur said the tax officers have taken various measures to curtail this type of fraud, and field formations of the Central Board of Indirect Taxes and Customs (CBIC) are sensitised to keep a check on

Economy News

In these 6 states, farmer families live on less than Rs 5,000 per month

Agricultural households in Bihar, Jharkhand, West Bengal, Uttarakhand, Odisha, and Uttar Pradesh have an average monthly income of less than Rs 5,000.

Economy News

India’s renewable energy capacity crosses 80GW-mark, says RK Singh

Accordingly, the government has set a target of installing renewable energy capacity of 175 GW by the year 2022, the minister said.

Economy News

Anti-dumping duty likely on aluminium and zinc coated flat products from 3 nations

The recommended duty ranges between USD 28.67- 199.53 per tonne.

Economy News

Modi govt needs to rework international treaties to tax global tech firms

Taxing global tech giants: Countries like India lose out on a significant revenue base because of complex business and corporate structures, and international treaty obligations.

Google Tax, Equalisation Levy, GST, Reverse Charge Mechanism, Taxing Global Internet Giants News

China’s growth worries set to endure amid trade war with US

China’s slowdown will continue to provide the backdrop to re-booted trade negotiations with the U.S. in the months ahead, with economists forecasting a full-year expansion of 6.2% this year and 6.0%

Chinese economy, Beijing, global trade, JP Morgan, deflation, Retail sales growth, US china trade tensions News

India’s exports contract 9.7% in June, worst since January 2016

Goods trade deficit ballooned to $46 billion in the June quarter from almost $36 billion in the previous three months, threatening to reverse the benign current account deficit (CAD) level of 0.7% of

India, India export, india export data, india export import data, india export to china, india export today, economy news, current account deficit, CAD, IMF News

Tax on FPIs: Relief to less volatile investors not easy — here’s why

FPIs remained net buyers in most part of 2019, having bought shares and local papers worth $13.08 billion so far this year. This compares with last year’s sale of $4.6 billion in equity and $6.7 bil

FPI surcharge, FPI, FPI Tax, FPI bond, economy news, post tax returns,  tax returns, FPI full form, market news

Decline in exports reflects sluggish global economic conditions: FIEO

Such a de-growth in exports is a reflection of sluggish global demand and rising tariff war," he said in a statement.

Economy News

India’s services receipt in May rises 15.5% to USD 18.68 billion

On a month-on-month basis, the services imports in May rose by 9.6 per cent from USD 11.4 billion in April 2019, as per the RBI monthly data on 'India's International Trade in Services'.

Economy News

Exports fell nearly 10% but trade deficit narrower than expected

Exports from India fell by 9.7 per cent y-o-y to USD 25.01 B, whereas imports have decreased by 9.06 per cent y-o-y to USD 40.29 B in June 2019.

Trade deficit, Imports, Exports, Gold, Crude oil, Balance of trade, Electronic goods, jewellery News

Gems and jewellery exports plunge 16.3% to $2.8 billion in June

The issue has also led to slowing demand from the US which otherwise has been steady, he added.

Economy News

Modi govt’s bid to tax global tech giants may come unstuck

Modi government faces several hurdles in taxing international tech firms such as Google, Facebook, Twitter, and others.

G20 PM Modi, Google Tax, Faecebook, Equalisation Levy, GST, Reverse Charege Mechanism News

GST collection of states rises to Rs 5.18 lakh crore in FY19

The average gross GST collection in 2018-19 fiscal was Rs 98,114 crore, up from Rs 89,885 crore in 2017-18.

Economy News

India’s steel exports fall 34 per cent to 6.36 MT in 2018-19

He also said that trade-related issues are a part of ongoing economic relationship discussion between India and the US.

Economy News

China’s GDP growth slows to a 27-year low as trade war bites

Motor vehicle production actually fell 15.2%, the 11th monthly decline in a row, suggesting automakers don't expect a sustained bounce in demand any time soon.

Economy News
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