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ADB retains India's growth forecast at 7%; govt spending, agriculture to boost economy

The Indian economy grew 8.2% in the last fiscal (2023-24)




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India, Australia push forward on CECA talks




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Government retains borrowing target, to raise ₹6.61 lakh crore in H2 to fund revenue gap

The gross market borrowing of ₹6.61 lakh crore shall be completed through 21 weekly auctions.




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Export ban on non-basmati white rice removed

Exports to be permitted with immediate effect subject to a minimum export price of $490 per tonne; duty on parboiled rice cut from 20% to 10%; revival of trade to eastern and south east Asian markets expected




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FPIs inflow hit 9-month high of ₹57,359 cr in equities in September; surpasses ₹1 lakh cr mark

In the debt markets, FPIs infused ₹8,543 crore through the Voluntary Retention Route (VRR) and ₹22,023 crore via the Fully Accessible Route (FRR) in September




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Mcap of 8 of top-10 most valued firms surges ₹1.21 lakh crore; Reliance biggest winner

The market valuation of Reliance Industries jumped ₹53,652.92 crore to ₹20,65,197.60 crore




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Government claim of eight crore new jobs is data jugglery, says Congress

Centre included even unpaid household work in its employment data, says Jairam Ramesh




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India’s current account deficit in Q1 FY25 widens to $9.7 billion

The current account surplus for Q4:2023-24 was revised downwards to $ 4.6 billion from US$ 5.7 billion earlier due to an upward adjustment of customs data on merchandise imports, the RBI said.




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Fed Chair Powell says U.S. economy is in 'solid shape' with more rate cuts coming




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GST revenue growth slowed in September

Gross revenues rose 6.5%, while net receipts were 3.9% higher than last September; seven States record a contraction while revenues were flat in Gujarat




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Government picks three new members to join RBI’s Monetary Policy Committee

The new members are Ram Singh, Saugata Bhattacharya and Nagesh Kumar. They have been appointed for a period of four years.




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Maruti, Hyundai, Tata Motors report decline in wholesales in September

Mahindra & Mahindra said its SUV wholesales in the domestic market increased 24% to 51,062 units in September compared to the same month of last year




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Working with MCA to roll out PM Internship Scheme: CII

The MCA has also launched a dedicated, user-centric portal for the scheme, which will serve as a centralised hub and a link between the companies and the aspiring interns




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Rate cut hopes: at least one new MPC member a dove




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Gold cools, oil surges amid escalating tensions in West Asia




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Every daily wager in Odisha wants to be identified as a construction worker

More than 42.66 lakh people registered as construction workers to avail benefits from the buildings and construction welfare board of the State. But experts believe the construction sector of Odisha is not large enough to accommodate such a large labour force




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India, U.S. exploring combined engagement with third countries to source minerals: Piyush Goyal

Piyush Goyal said that critical minerals figured in his official parleys with U.S. Commerce Secretary Gina Raimondo on Thursday.




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Govt grants one-year extension to RBI Deputy Governor Rajeshwar Rao

Rao was appointed as RBI Deputy Governor in October 2020 for a period of three years




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Public inputs sought for Income Tax Act review

These ideas may be taken up by an internal committee of the Income Tax Department that has been formed to oversee the review of the 1961 law.




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RBI Monetary Policy Committee meeting: policy rate unchanged at 6.5% for 10th time in a row

‘RBI changes stance of monetary policy to ‘neutral’ from withdrawal of accomodation,’ says Shaktikanta Das.




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RBI projects 7.2% GDP growth for FY25, CPI inflation to moderate at 4.5%

According to RBI Governor Shaktikanta Das, growth for the fiscal year will be supported by robust quarterly performances.




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RBI asks banks to ensure easier accessibility for payment systems to persons with disabilities

RBI instructs banks to review payment systems for accessibility to persons with disabilities, ensuring digital payment inclusivity




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Net direct tax collection grows 18% to ₹11.25 lakh cr

The income tax department had collected ₹9.51 lakh crore during the same period a year ago.




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Wholesale food prices surged at two-year high pace of 9.5% in September

Fuel and power costs dropped over 4% last month, while manufactured product prices rose just 1%, reining in overall wholesale inflation pace to 1.84% from 1.3% in August




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Indian conglomerates to spend $800 billion in new projects in 10 years: S&P Global Ratings’ report 

“The Vedanta, Tata, Adani, Reliance and JSW groups alone are prepping about $350 billion of investment in these sectors over the next decade,” Neel Gopalakrishnan of S&P Global Ratings said




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Economics Nobel Winners 2024 and their studies on ‘how institutions are formed and affect prosperity’

Daron Acemoglu and Simon Johnson are professors at the Massachusetts Institute of Technology while James Robinson is based at the Harris School of Public Policy and Department of Political Science at the University of Chicago.




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A Nobel prize for explaining why nations fail or succeed

The 2024 Economics Nobel laureates have argued that differences in the quality of economic and political institutions is what best explains the divergence in the economic fates of countries




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Dearness Allowance hiked by 3% for Central Government employees ahead of Deepavali

The government had last hiked Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners on March 8




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India’s logistics cost will come down to single-digit percentage in two years: Gadkari

According to quick estimates of the economic think tank National Council of Applied Economic Research (NCAER), logistics costs in India ranged between 7.8% to 8.9% of GDP for the fiscal 2021-22




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'India's growth rate among the shiniest parts of the world economy': Ajay Banga

A lot of that growth is in India, is driven by the domestic market as well, which actually is a healthy sign, in some ways, says World Bank president Ajay Banga




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China's economy grew 4.6% in July-September quarter, falling short of 5% target

The latest data show the world's second largest economy slowing from 4.7% annual growth in the previous quarter and falling short of the official target of “about 5%” growth for 2024,




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RBI maintains tight vigil on financial market and takes action when necessary, says RBI Governor Shaktikanta Das

The RBI Governor said that the central bank does not act like a policeman.




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GoM decides to cut GST on 20-litre water bottles, bicycles to 5%; raise rate on shoes, watches

The Group of Ministers on GST rate on life and health insurance decided to exempt GST on premiums paid for health insurance with coverage of ₹5 lakh for individuals other than senior citizens; final decision to be taken by the GST Council




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India well positioned to capitalise on new growth opportunities: Nirmala Sitharaman

Nirmala Sitharaman said that India is looking towards boosting domestic capacities, and building resilience against external shocks




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IMF maintains India’s growth projection at 7% for FY25

The growth rate projection is 6.5% in the next fiscal year (FY2025-26)




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India wouldn't be fastest-growing economy if people hadn't utilized digital infrastructure: Nirmala Sitharaman

Nirmala Sitharaman highlighted that providing free digital access to the public, coupled with extensive campaigns and awareness programs in local languages, helped people across the country embrace technology




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Watch: US elections: Who are Trump and Harris appealing to?

We also analyse the IMF’s report on world economy as well as their forecast for India.




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FPIs withdraw ₹85,790 crore from Indian equities in October on attractive Chinese market valuations

Since June, foreign portfolio investors (FPIs) have consistently bought equities after withdrawing ₹34,252 crore in April-May




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New investments see a boom in second quarter

Government capex recovers from a lull in the first quarter; overall investments jump 42.5% sequentially in the second quarter of 2024-25 to ₹9.21 lakh crore; private investors also step up, at a slower pace




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Cyclical slowdown? Nomura thinks so

Days after its research report stating ‘the growth glass looks half empty’ for India, Nomura economists signal weak urban demand is unlikely to rebound soon and GDP growth may even slip under 6.7% this year




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Core sector output at 10-month low in September, deepening growth anxieties

Steel, power, oil and gas output growth slows, though cement output grows faster; economists say industrial production growth likely slowed in September, and may drag down annual growth projections




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GST receipts’ growth rebounds in October, but still off target

Collections surpass ₹1.87 lakh crore in October, marking the second highest monthly collections on record, with growth mounting to 8.9% in October from September’s 40-month low uptick of 6.5%




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FMCG firms worry over high inflation, squeezing urban market; hint price hike

Rising prices of commodity inputs such as palm oil, coffee and cocoa were also accentuated and some FMCG firms have hinted at a price hike




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FPIs withdraw record ₹94,000 crore from Indian equities in October on attractive Chinese valuations

Foreign portfolio investors withdrew ₹94,000 crore from Indian stock market in October due to high valuations, shifting focus to Chinese stocks




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India’s manufacturing growth accelerates in October: PMI

Cost pressures spiked to a three-month high, new export orders accelerate from 18-month low growth in September




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Nearly 98% ₹2000 banknotes returned; ₹6,970 crore worth notes still with public

On May 19, 2023, the RBI announced the withdrawal of ₹2000 denomination banknotes from circulation




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Indian service providers signal robust growth in October on strong demand conditions

India’s services PMI rebounds to 58.5 in October, driven by strong output, new business, and job creation, signaling economic growth




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What happens to Indian firms on U.S. blacklist?

Were they sanctioned for supply and sales to Russia? Will things be different under the Trump administration?




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Net direct tax collection grows 15.41% to ₹12.11 lakh crore till Nov 10

Refunds worth ₹2.92 lakh crore was issued during the period, a 53% jump over year-ago period.




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In South America, Trump already losing a trade battle with China

China’s trade lead in Peru over the United States widened to $16.3 billion last year, a stark reversal of just a decade ago when Washington was the dominant player.v