Prime Minister Narendra Modi will chair the first national conference of chief secretaries at Dharamshala on Thursday and Friday to prepare a common development agenda for higher economic growth, ahead of the Governing Council Meeting of Niti Aayog later in the year. The conference of chief secretaries will be held at the Himachal Pradesh Cricket […]
Aided by better compliance, higher commodity prices and revival of economic activities, the Centre’s net tax revenue in the current financial year may be around Rs 20.62 trillion, Rs 1.28 trillion or 6.6% more than the budget estimate (BE) of Rs 19.34 trillion, according to the analysts. Buoyancy in the gross tax revenue (GTR) could […]
Commerce and industry minister Piyush Goyal on Sunday asked the World Trade Organisation (WTO) to find a permanent solution to the long-pending issue of public-stockholding for food security. In his intervention at the plenary session of the WTO’s 12th ministerial conference (MC) in Geneva, he also asked advanced fishing nations to take on the responsibility […]
The country’s current account deficit (CAD) likely moderated to 1.96% of GDP ($17.3 billion) in 4QFY22, as against a deficit of 2.74% of GDP in Q3FY22, India Ratings said in a report on Thursday. The CAD is estimated to have been at 1.38% ($43.81 billion) in FY22 compared to the current account surplus of 0.9% […]
As many as nine countries – including Ethiopia, Indonesia, Bangladesh, Qatar, Oman, Yemen and Jordan – have requested India to supply about 1 million tonne (MT) of wheat in the wake of a ban on the grain’s exports from May 13 but the entire demand is unlikely to be fulfilled, official and trade sources told […]
As a now-suspended BJP spokesperson’s comments on Prophet Muhammad drew condemnations from Islamic nations, especially those in western Asia, a look at India’s relations with these countries suggests that if the issue is allowed to escalate, it could have serious economic implications for both. Trade or business relations, however, haven’t yet been impacted. “No report […]
The Union ministry has paved the way for small consumers to get access to green power by reducing the limit of open access transaction by 10 times to 100 kilowatt (kw) and curbing the surcharges to be built into tariffs. The ministry notified the Green Power Open Access Rules, 2022, on Tuesday. The new norms […]
India shipped out as much as 11.3 lakh tonnes of wheat in May, of which 4-5 lakh tonnes were despatched after a ban on the grain’s exports was imposed on May 13, sources told FE. The total shipment of the grain in May was close to 3 times of the level a year before. Indonesia […]
The World Bank on Tuesday scaled down its FY23 growth forecast for India to 7.5% from 8% predicted in April, citing the damaging impact of rising inflation, supply-chain disruptions and the Russia-Ukraine conflict. These headwinds would offset “buoyancy in the recovery of services consumption from the pandemic”, it said. With this, the multilateral body has […]
Exports of wheat flours have witnessed a sudden and unusual spike in the aftermath of the ban the outbound shipment of wheat, industry sources told FE, indicating that many traders may be using this route to beat the prohibition on the grain’s exports. The spike is likely to alarm the government, which has already tightened […]