• All the key indicators such as jump in exports and high GST collection in April reflect that the country's economy is on the growth path, commerce and industry minister Piyush Goyal said.

  • The commerce and industry ministry is likely to discuss with exporters and industry representatives next week import substitution of 100-odd products whose imports are high and have a significant share in the country's overall inbound shipments. The meeting is likely on May 10, according to sources.

  • The government is likely to tweak the railway land use policy and reduce the land licensing fee (LLF) for industrial use to 3.5% from 6%.

  • India's trade and current account deficits are likely to widen, putting pressure on the rupee, as global oil prices surge and the domestic economy reopens from a third wave of the pandemic, economists and analysts said.

  • The National Stock Exchange (NSE) episode is a classic example of absolutely opaque, discretion-based decision making, beyond the realm of law and governance, and the government is examining the matter to determine if the Securities and Exchange Board of India (Sebi) has taken "necessary punitive" action.

  • Union Finance Minister Nirmala Sitharaman on Monday termed the Opposition's criticism of the Goods and Services Tax (GST) as 'Gabbar Singh Tax' as a knee-jerk reaction which is a disservice to the country's institutions.

  • Revising the outlook on state finances to "improving" in FY23 from "neutral", India Ratings expects the aggregate fiscal deficit of the states to come in at 3.6 per cent of their gross domestic product from 3.5 per cent in FY22 on the back of robust revenue growth. The agency had earlier forecast the fiscal deficit of the states to print in at 4.1 per cent.

  • India's trade deficit as a percentage of global trade fell to 0.6% in 2022 from 0.7% in the pre-pandemic period, the United Nations Conference on Trade and Development (UNCTAD) 

  • The country's gross domestic product (GDP) is likely to grow at 5.8 per cent in the third quarter of fiscal 2022, according to an SBI's research report- Ecowrap.

  • Finance minister Nirmala Sitharaman clarified on Sunday that a proposed amendment in the Budget related to the education cess had to be done retrospectively in order to be fair to all taxpayers.

  • The government is mulling a high limit on allowances at 75-80% of the wages of an employee in the first year of the roll-out of the labour code on wages.

  • The Central Information Commission and the Public Enterprises Selection Board have been given Rs 32.70 crore to manage their affairs in the Union Budget presented on Tuesday, a nominal increment of Rs 1.50 crore from the Rs 31.20 crore provided according to the revised estimates for 2021-22.

  • The union budget for 2022-23 seeks to support the recent economic growth momentum and help it sustain over the long-term, MD&CEO of Bandhan Bank Chandra Sekhar Ghosh said on Tuesday.

  • The Centre has allocated Rs 73,000 crore for the rural jobs guarantee programme MGNREGA for 2022-23 in the Union Budget presented on Tuesday.

  • The union Cabinet is expected to take up as soon as next week a proposal to allow foreign investment in Life Insurance Corporation, to help facilitate the initial public offering of the state-owned insurer.

  • Finance minister Nirmala Sitharaman faces the difficult challenge of strengthening the economy but with limited options at hand, given the macroeconomic situation.

  • The spike in infections due to Omicron has prompted the government to play safe with the finance ministry even doing away with the customary ‘halwa’ ceremony that marks the final leg of the Budget preparation exercise.

  • A reverse repo rate hike in the coming monetary policy is a fait accompli given that the overnight call rates have surged past the rate the RBI provides banks for parking their excess funds. If the budget deficit numbers are more than 6.5 percent of the GDP, then even the repo rate hike may be on the table.

  • The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog Vice Chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored.

  • The Competition Commission of India (CCI) is planning a revamp of the disclosure requirements when entities seek approval for merger deals to make the process less burdensome, people aware of deliberations have told ET.

  • Finance minister Nirmala Sitharaman’s budget for FY23 that will be presented on February 1 will be watched keenly for measures for firing up the pandemic-hit economy. ET takes a look at the team that is drafting the budget that needs to enable high growth while keeping the fiscal deficit in check and inflation contained.

  • India has emerged as the largest exporter of gherkins in the world with outbound shipments worth $114 million from April-October 2021 compared to $200 million of exports in full FY21

  • The government could open up on-the-job training for all sectors, besides bringing apprenticeship under one ministry or an umbrella body, as part of its efforts to significantly improve apprenticeship in India.

  • Just as India was showing several clear signs of a turnaround, Omicron entered the scene to dampen the mood and clutter the mind again. In an attempt to capture the essence of the ongoing public debate in the nation caught in a renewed tussle between hope and fear

  • The government is mulling an increase in the standard deduction limit available to salaried taxpayers and pensioners by 30-35% in the upcoming budget while income tax slabs are likely to remain unchanged given the limited fiscal headroom, officials said.

  • The government is mulling an increase in the standard deduction limit available to salaried taxpayers and pensioners by 30-35% in the upcoming budget while income tax slabs are likely to remain unchanged given the limited fiscal headroom, officials said.

  • Odisha Chief Minister Naveen Patnaik on Monday inaugurated two new industrial projects and performed groundbreaking ceremony for 11 others, all of which taken together entails an investment of Rs 2,360 crore. The projects, Patnaik said, will generate employment opportunities for at least 3,200 people.

  • Total employment generated by nine select sectors stood at 3.10 crore in the July-September 2021 quarter, which is 2 lakh more than that of the April-June period, according to a quarterly employment survey by the labour ministry released on Monday

  • Real estate developers are seeking an increase in the limit of home loan interest deduction for tax rebate to Rs 5 lakh from current ceiling of Rs 2 lakh, a review of definition of affordable housing, lower long-term capital gains tax for real estate and new provisioning for rental housing in the upcoming Union Budget for 2022-23.

  • Finance minister Nirmala Sitharaman’s fourth budget may have become a tad more challenging as the country confronts the severe third wave of the Covid-19 pandemic. Economic recovery is expected to face headwinds while there is very little in the government’s arsenal to provide stimulus.

  • The Reserve Bank may delay rate hikes beyond its February policy as risks to growth emerge from the recent surge in Omicron infections and the resultant restrictions on activity as growth is priority over inflation. But the RBI may indicate policy normalisation through its other liquidity management tools.

  • India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed on Monday. The unemployment rate rose to 7.9% in December from 7.0% in November, its highest since 8.3% in August.

  • The industrial and logistics sector was the most sought-after, and investments rose to a five-year high of $1.1 billion, a five-fold increase from 2020.

  • India and the UK are likely to launch formal negotiations for a free trade agreement (FTA) in the second week of this month followed by the first round of talks after a week, people aware of the development said.

  • 'All weather terrain' might well be a befitting description for the country's road sector. Weathering the pandemic-induced twists and turns, the sector will see more stretches of national highways, completion as well as awarding of multiple projects and fund raises in 2022, making it a "better" year than the passing one.

  • Farmers are often blamed for northern India’s terrible air quality. Every winter, smoke from stubble burning mixes with construction dust and industrial emissions to produce a toxic cocktail that blots out the sun, grounds flights and overwhelms hospitals. The haze lingers in the region’s trough-like topography for weeks.

  • A consortium of KGK Realty and Dhoot Infrastructure Projects has bought Sare Gurugram Private Limited, a unit of Sare Homes, under the insolvency and bankruptcy code (IBC) route and has agreed to complete construction of a township that has 3,000 home owners awaiting delivery of their apartments, people in the know said.

  • Shapoorji Pallonji group promoted Evangelos Ventures Pvt Ltd has raised Rs 750 crore non-convertible debentures from Ares SSG Capital and Farallon Capital affiliate companies by pledging shares of Sterling Investment Corporation Ltd (SICL) which holds a 9.18% stake in Tata Sons, the core investment company of the Tata group, said people aware of the matter.

  • The United Arab Emirates (UAE) has lifted a ban on import of eggs and other poultry products from India, ahead of Prime Minister Narendra Modi's visit to the country next month. The move follows an assurance by New Delhi that it would follow biosafety norms set by the World Organization for Animal Health to prevent infection from bird flu.

  • Social activists working among farmers led by Kavitha Kuruganti have come out against the Food Safety and Standards Authority of India's (FSSAI) draft regulations on genetically modified (GM) food, terming it "unacceptable".

  • The country's exports rose by 36.2 per cent to USD 23.82 billion during December 1-21 this year, according to preliminary data of the commerce ministry. Exports, excluding petroleum, have increased by 28.08 per cent during the period under review.

  • A recent tax ruling has said that plants and machinery are an exception to the rule and a tax credit should be available for their construction, providing much needed clarity to companies incurring new capital expenditure.

  • A gradual fiscal consolidation path, capital expenditure to pursue growth and steps to rein in inflation were some of the key suggestions made by economists for the FY23 Budget to finance minister Nirmala Sitharaman.

  • India's policy chiefs have begun debating the course of reversing the ultra-loose monetary policy, but the uncertainty about the omicron variant appears to have delayed the return journey to normality. However, the process could begin as early as February, when officials are due to meet next.

  • For the first time in the third quarter, the cost of state debt soared past the 7 percentage points levels with the weighted average cost settling at 7.01 per cent.

  • After private equity firms and fund houses, the taxman has raised the spectre of capital gains and judicial General Anti Avoidance Rule (GAAR) over several multinationals that had invested in India or sold part of their assets through Mauritius entities between 2013 and 2016.

  • A comprehensive strategic partnership backed up by an ambitious Roadmap 2030 for closer cooperation over the next 10 years were the highlights for India-UK relations this year, which closes with the promise of free trade agreement (FTA) talks scheduled to kick-start in January 2022.

  • The upcoming budget is likely to continue with the capex push to prop up growth and could rationalise centrally sponsored schemes and central sector schemes to make government spending more effective.

  • The Organisation for Economic Co-operation and Development (OECD) Monday released the model rules, paving the way for the roll out of the new global tax regime that will subject multinational corporations to a minimum tax of 15% from 2023.

  • India on Monday slashed the basic import tax on refined palm oil to 12.5% from 17.5% earlier, the government said in a notification, as the world's biggest vegetable oil buyer tries to cool near-record price rises.

  • RBI’s state of the economy report for December 2021 has a chart indicating the extent of scarring of various economies from the pandemic

  • Fed chair Jerome Powell indicated that the time between the end of tapering and the first rate hike could be short. Interestingly, the rationale for that has less to do with inflation, but more to do with the strong demand environment and labour market tightness

  • India could sell more than 6 million tonnes of sugar on the world market this year with a World Trade Organization ruling that it flouted the rules by offering export subsidies unlikely to have an impact on overseas sales, trade officials said.

  • Reflecting a recovery in commercial transactions, daily e-way bill generation under the Goods and Services Tax (GST) system came in at 22.28 lakh for the week ended December 12, 5.6% higher than the daily average for the first five days of this month.

  • Merchandise exports rose 27.2% in November from a year before but an almost 57% surge in imports inflated trade deficit to a record $22.9 billion last month, according to the provisional estimate released by the commerce ministry on Tuesday.

  • Coloured teas or teas mixed with colours to give them a rich golden hue are becoming a menace in the southern states and Maharashtra. The apex body of packet tea players, Federation of All India Traders Association (FAITTA)

  • Karnataka is mulling amendments to its land revenue regulations to let owners of farmland get speedy approvals to put their plots for non-agricultural use.

  • Walmart International chief executive Judith McKenna has reiterated the US retail giant's commitment to export $10 billion worth of goods out of India annually by 2027, which she said will create a network of small and medium enterprises selling to the company's global buyers and help in the Make-in-India programme.

  • India is likely to see a ‘roaring 20s’, just like how the US economy was in the 1920s, said Rajat Dhawan, McKinsey India’s newly minted managing partner.

  • Union minister Nitin Gadkari on Sunday said the National Highway-334B, which starts at Baghpat near the UP-Haryana border and ends at Rohna in Haryana is set to be completed by next month.

  • Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday cautioned depositors to be careful while chasing high returns as it comes with greater risk.

  • The Adani Group has removed a ban on exports and imports to and from Afghanistan, Pakistan and Iran at its Mundra port NSE -0.27 %, reversing an order made in October. The company said it removed the ban after consultations with terminal and vessel operators, customs broker associations and importers who had agreed to adhere to security compliances.

  • How do we multiply jobs and is our growth strong enough to help meet that challenge? That's the question former RBI governor Raghuram Rajan feels we should be asking as India claws its way up from pandemic lows.

  • Disinvestment of some public sector units is a continuous process and the Container Corporation of India Ltd (CONCOR) is one such unit, the government informed the Rajya Sabha on Friday.

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  • Projecting the inflation trajectory in line with its earlier estimate, the Reserve Bank of India (RBI) on Wednesday said the retail inflation is expected to be around 5.3 per cent during the current fiscal year.

  • Fitch Ratings on Wednesday cut India's economic growth forecast to 8.4 per cent for the current fiscal year ending March 31, 2022, but raised GDP growth projection for the next financial year to 10.3 per cent.

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  • The Reserve Bank of India Governor Shaktikanta Das on Wednesday announced that the Monetary Policy Committee had opted to keep the rates unchanged in its latest meet.

  • The government has advised PSUs against taking over private stressed assets or other brownfield projects, saying such buyouts are in contravention to the ₹6 lakh crore asset monetisation programme.

  • Prime Minister Narendra Modi on Tuesday will dedicate multiple projects including an All India Institute Of Medical Science (AIIMS) and a fertiliser plant, to the people of Uttar Pradesh's Gorakhpur district.

  • India’s government plans to bridge the gaps in employment data by next year, with officials gathering details on the job status of about half a billion workers to improve policy making, according to people familiar with the matter.

  • Vodafone has filed an application with the Indian government to settle its tax dispute under the retrospective law, agreeing to indemnify it against any future claims, a top government official told ET.

  • Data released on Tuesday by the National Statistical Office showed that India’s gross domestic product (GDP) grew 8.4% in the second quarter of this fiscal year as India moved towards recovery following the second wave of Covid-19 earlier this year.

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  • Data released on Tuesday by the National Statistical Office showed that India’s gross domestic product (GDP) grew 8.4% in the second quarter of this fiscal year as India moved towards recovery following the second wave of Covid-19 earlier this year.

  • The government is pursuing strategic sale in 22 firms of which 17 are ongoing transactions including BPCL NSE (1.59 %), Shipping Corporation of India, Concor (NSE 3.62 %) and BEML (NSE -2.76 %).

  • India's business resumption raced ahead, touching a new high on the back of continued moderation in Covid cases and mobility returning to pre-pandemic levels, a private tracker showed.

  • Data was expected to show that India's economic recovery strengthened in the July-September quarter, helped by a pick-up in consumer spending, though the spread of the Omicron coronavirus variant raised fears for the future.

  • India could exclude some key strategic sectors, such as aviation, telecommunications and critical infrastructure services, from the cross-border insolvency framework’s ambit.

  • The government is likely to involve individuals in a voluntary effort to subsidise the pensions of unorganised workers, on the lines of the 'Give it up' campaign that targeted the well-off to discontinue subsidies on cooking gas, in favour of those that needed it most.

  • The proposal for a central bank digital currency (CBDC) backed by the country’s banking regulator may be included in the upcoming bill to regulate cryptocurrency, a top government official told ET.

  • Wayward and excess rains have resulted in the ongoing spike in vegetable prices, and the cost of tomatoes will continue to be at elevated levels for two more months, Crisil Research said on Friday. The situation in Karnataka, one of the major tomato growing regions, is so "grim" that the vegetable is being sent from Maharashtra's Nashik, it said, pointing to on-ground interactions.

  • India could tax only the large foreign shareholders of domestic companies that list directly on overseas exchanges, and such listing may initially be limited to select jurisdictions including the International Financial Services Centre at GIFT City in Gujarat.

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  • Indian mangoes such as Dussehri and Langda may again find space in American stores, with the US likely to start accepting testing certificates issued by agencies here, a senior government official said on Tuesday, even as the two sides decided to draw up timelines to resolve various outstanding trade issues in three to 12 months.

  • The Joe Biden administration will seek to build a new "collaborative approach" on trade with India that will respect each other's "sensitivities" and "political requirements", instead of "locking horns" which makes it a "tug of war" or a "zero sum game", US Trade Representative Katherine Tai told ET in an interview.

  • The government’s decision to repeal the three farm laws has left a question mark on the National Mission on Oilseeds for which the edible oil industry has been clamouring for long.

  • The government's decision to repeal the three farm laws could delay already slow-moving labour reforms, but privatisation, asset monetisation and broader economic reforms may not see much impact, said bureaucrats and economists.

  • US Trade Representative Katherine Tai on Monday called for a collaboration on "worker-centric policies" with India in bilateral trade talks, and said she intended to "make progress" on issues raised by American businesses, including market access restrictions, high tariffs, and restrictive digital trade measures.

  • Now that Prime Minister Narendra Modi has sacrificed his poorly designed makeover of India’s farms at the altar of electoral math, there will perhaps be no fresh attempt at reform for a decade. That’s a shame for urbanization.

  • Union commerce & Industry minister Piyush Goyal asked the stakeholders of the tea industry to submit an elaborate proposal concerning all aspects involving the various sectors of the industry so that it can be examined in depth for further action.

  • As delivery of Russia’s S-400 missile defence system to India begins, a top US think tank has warned that sanctions against New Delhi under US law could trigger a blowback and set India-US ties back by a decade. In its report, Stimson Center has suggested that the US should either apply full waiver or only light and symbolic sanctions.

  • The Maharashtra government’s town planning authority, the City and Industrial Development Corporation (CIDCO), has decided to adopt certain provisions of the recently introduced Unified Development Control Promotion Regulations (UDCPR) for rapid and efficient development of the Navi Mumbai Airport Influence Notified Area (NAINA).

  • India, the world's largest recipient of remittances, received USD 87 billion in 2021 with the United States being the biggest source, accounting for over 20 per cent of these funds, according to the World Bank.

  • Finance minister Nirmala Sitharaman on Wednesday exhorted India Inc to start taking risks and begin investing in new capacity, while asserting the need for the country to become self-reliant after the pandemic highlighted the risks of dependence on imports.

  • Many investors who invest or trade frequently in cryptocurrencies are rushing to their advisors to figure out the tax implications of their investments, even as the government looks to introduce a legal framework around cryptocurrencies.

  • Ahead of a key ministerial conference, the World Trade Organization (WTO) is likely to float a revised draft text for a possible agriculture package to break the deadlock in farm talks at the meeting later this month.

  • The government has begun work on measures to improve India's ranking on the global hunger index after the country slipped to 101 from 94 in ranking. The government is considering carrying out a food consumption survey, last done in 2012 to get updated data on consumption patterns across the country.

  • The government is unlikely to shut the door on cryptocurrencies and instead take a nuanced approach. They may not be permitted as currency to settle transactions and make payments but could be held as an asset like shares, gold or bonds.

  • With the fast growing fashion industry in the country, India has the potential to become the fashion hub of the world, Union Minister Piyush Goyal has said. The minister said that the spirit of self-reliance can be channelised by helping weavers and artisans get their rightful dues.

  • The central bank is likely to approach the Centre to secure tax benefits for retail investments in sovereign securities under the Retail Direct Scheme (RDS), which takes India into an elite club of nations democratising ownership of government debt.

  • The Economic Survey for 2021-22 is likely to have only one volume comprised largely of data for the fiscal year across sectors and will not have the policy prescriptions which form part of the main Volume-1 due to the absence of a full-time chief economic advisor (CEA).

  • Goods and services tax authorities have started issuing notices to several companies, after uncovering a mismatch in tax credits using deep analytics tools embedded in the GSTN software.

  • India has rejected the latest draft text on fishery floated by the World Trade Organization (WTO) this week, saying it is imbalanced, weak and unfair, and doesn't address New Delhi's concerns on food security and livelihood of small fishers, instead favouring developed nations.

  • The International Finance Corporation, the private finance arm of the World Bank, could step up its annual allocation to India to $3 billion from $2 billion now, its regional vice president for Asia and Pacific, Alfonso Garcia Mora, told ET.

  • The manufacturing sector posted its best performance in eight months in October, helped by robust festive demand and solid exports, a private survey showed.

  • Some conglomerates, banks, and companies may face additional taxes under the Goods and Services Tax (GST) on their intangibles, such as goodwill, brand, logo fees and even franchise fees paid by them, following a recent adjustment in tax rates.

  • Global private equity firm Partners Group Holding AG will not shy away from rich Indian valuations as it looks to aggressively expand its footprint in the world’s second largest democracy, said a senior company executive.

  • Steel manufacturing firms from Russia are expected to make investments in India under the production-linked investment (PLI) scheme for specialty steel, according to an official. Mukesh Kumar, the Director of Steel Research & Technology Mission of India (SRTMI)

  • There has been more than 60 per cent decline in the crop insurance claims of farmers at Rs 9,570 crore under the Pradhan Mantri Fasal Bima Yojana (PMFBY) for the 2020-21 crop year from the previous year as there were no major crop losses, according to official data.

  • The Ministry of Labour and Employment has revised the rate of variable dearness allowance for 1.5 crore central sphere workers. The hike, which will be effective from October 1, will result in an increase in the minimum wages for central sphere employees and workers.

  • The government has reappointed Shaktikanta Das, Reserve Bank of India’s governor since December 2018, for another term of three years to ensure continuity when Asia’s second largest economy is on its way to recovery from severe contraction caused by the pandemic.

  • As the second wave of Covid-19 eased off, business sentiment in the country hit an over two-year high in the September quarter (Q2) of the current financial year (FY22), according to a survey by the National Council of Applied Economic Research (NCAER).

  • Finance Minister Nirmala Sitharaman on Tuesday said the government’s social protection and economic stimulus packages, along with timely structural reforms in various sectors, have been pivotal in India’s economic recovery process.

  • A formal search for the successor to Chief Economic Adviser Krishnamurthy V Subramanian has begun, with the Department of Economic Affairs (DEA) seeking applications for the post.

  • India's natural rubber production is likely to fall sharply in October and November, as heavy rains have been disrupting tapping activity in the country's top producing southern state of Kerala, industry officials said on Monday.

  • Reserve Bank Governor Shaktikanta Das said on Monday that fair and impartial auditing is essential for a resilient economy as it instils confidence among citizens\R.

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  • The government will soon set up a committee to frame India's first National Employment Policy with an aim to significantly push up employment generation in the country.

  • India has proposed a rotation system for the appointment of officers to World Trade Organization (WTO) bodies to achieve balanced representation of members from different groups.

  • The worst of the pandemic for the Indian job market could most likely be behind us, with recovery lying ahead. Blue collar hiring is seeing a significant uptick across job categories, especially in the delivery and retail segments.

  • E-way bills in October are likely to surpass September levels with production picking up to meet rising demand during festive season, said experts. The uptick will further strengthen tax collections and economic recovery trends.

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  • The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 92,961 crore to more than 63.23 lakh taxpayers from April 1 to October 18, the Income Tax Department said on Thursday.

  • Average electricity prices in the day ahead market reduced to Rs 4 per unit on October 19 after crossing Rs 16 per unit on October 11. The average market clearing price for October 20th delivery stood at Rs 5.3 per unit.

  • The International Monetary Fund on Tuesday slashed this year's economic growth forecast for Asia and warned that a fresh wave of COVID-19 infections, supply chain disruptions and inflation pressures pose downside risks to the outlook, Reuters reported.

  • The coal stock situation at thermal power projects has improved further as the number of non-pit head projects having less than four days of coal (supercritical stock) reduced to 58 on Monday from 69 a week ago, government data showed.

  • Rising global commodity prices, led by crude, coal and metals, will shave a lot off the current account leading to higher imports and a rise in current account deficit, which is likely to print at 1.3 per cent of the GDP or USD 40 billion, up from 0.9 per cent surplus last fiscal, according to a brokerage report.

  • The government has sanctioned non-productivity linked or ad hoc bonus for central government employees for fiscal year 2020-21. In an office memorandum, the Department of Expenditure under the Finance Ministry said.

  • Financial stability is well taken care of in the RBI's flexible inflation targeting regime and it need not be a separate explicit monetary policy goal, according to a research paper by RBI economists.

  • Export orders for food, handicraft and readymade garments have risen at least 15% year-on-year owing to the upcoming festival season in the US and a higher demand for Indian sweets and snacks during Diwali, said traders.

  • Finance Minister Nirmala Sitharaman told global leaders and investors in an interaction in New York that India has undertaken several reforms to ease foreign investment in infrastructure, including fiscal benefits which have created opportunities for investors and industry in the country.

  • Global investors and offshore funds entering India through Mauritius are betting that in a few weeks the tax haven will shed some of its stigma and come out of the 'grey list' of the Financial Action Task Force (FATF) - an intergovernmental policy body that monitors the colour of money by setting anti-money laundering standards.

  • At least seven lenders, including Axis Bank, HDFC Bank and ICICI Bank are harnessing the GIFT City facilities to mark a robust Indian presence in the non-deliverable forward (NDF) currency derivatives market, potentially paving the way for eventual currency convertibility that's considered a draw-card for overseas investments.

  • The rising commodity prices expose India to macro risks including on the already elevated inflation and growth fronts, a foreign brokerage said.

  • The wholesale price-based inflation eased to 10.66 per cent in September, helped by moderating food prices even as crude petroleum witnessed a spike. WPI inflation remained in double-digit for the sixth consecutive month. In August, it was 11.39 per cent. In September 2020, inflation was 1.32 per cent.

  • Work demand and employment provided under Mahatma Gandhi National Rural Employment Guarantee scheme fell to its lowest since the outbreak of the Covid-19 pandemic as recovery gained ground with hiring picking up across sectors.

  • Prime Minister Narendra Modi on Wednesday launched the GatiShakti programme aimed at holistic governance through multi-modal connectivity between ministries and the Centre and state governments on development projects to ensure speedy completion by reducing red tape, lowering logistic costs and stop departments from working in silos.

  • The cabinet committee on economic affairs (CCEA) on Tuesday approved nutrient-based subsidy rates for Phosphatic & Potassic (P&K) fertiliser for the rabi season, offering a net subsidy of ₹28,655 crore.

  • The Indian economy is on course for a "fairly steady and sustainable recovery" as the chances of another major Covid outbreak have diminished thanks to the country's inoculation drive, finance secretary TV Somanathan said in an interview.

  • Retail inflation across the country based on Consumer Price Index (CPI) fell to 4.35 per cent in September from 5.30 per cent in August, according to data released by the National Statistical Office (NSO). It is the lowest retail inflation recorded since April 2021.

  • India may look at increasing tax on some goods and services in a step toward moving to a simpler structure with fewer rates, according to people familiar with the matter.

  • American private investment firm Bain Capital, with investments of about USD 5 billion in Indian companies, is looking forward to investing "even more" in the country and the next decade will be very important for both India and the US to work together.

  • India will have to abolish special economic presence (SEP) or “digital permanent establishment” rules introduced in May if the Organisation of Economic Cooperation and Development (OECD) tax deal comes through since unilateral measures, such as SEP and equalisation levy, can’t exist in the proposed tax regime.

  • Indian consumers are ratcheting up buy-now-pay-later installment plans to purchase everything from washing machines to vacations online as the country’s longest festive season gets underway.

  • The government is mulling delaying the imposition of customs duty on imported solar equipment or allowing extension of deadline for completion of domestic solar projects which are facing supply uncertainties from vendors in China.

  • The Employees Provident Fund Organisation (EPFO) may soon credit the interest declared for 2020-21 in the accounts of 60 million subscribers, bringing some festive cheer to the salaried class.

  • Companies are rushing to raise bond funds after the Reserve Bank of India took steps to cut easy money in its bi-monthly policy last week, resulting in an uptick in rates.

  • Air India returns to Tatas after group puts in winning bid of Rs 18,000 cr

  • K V Subramanian on Friday stepped down as Chief Economic Adviser after a 3-year tenure. He said he has decided to return to academia. He took over from Arvind Subramanian who had left due to personal reasons in June 2018.

  • The Reserve Bank of India's monetary policy committee kept interest rates steady at record lows on Friday, as widely expected, but traders are awaiting its comments about inflation and liquidity normalisation for further clues on the outlook.

  • The Reserve Bank of India’s monetary policy committee kept key interest rates unchanged, while retaining an accommodative stance to help revive the economy, which is facing a slowdown due to the coronavirus pandemic.

  • Coffee producers have urged the Union finance minister Nirmala Sitharaman to restructure outstanding loans of Rs 5,000 crore, some of which have turned into non-performing assets (NPAs) and some are under stress, amid a financial crisis brewing in the sector.

  • Nations grow at differing speeds and varied reasons are assigned as causal factors for the different growth potentials displayed by them; as measured by the Gross Domestic Product (GDP) metric.

  • India’s unemployment rate fell sharply in September to 6.86% as against 8.32% in August as 8.5 million additional jobs were created last month with the majority of them created in rural India with construction activity picking up pace, the Centre for Monitoring Indian Economy said.

  • Ahead of a key ministerial conference of the World Trade Organization (WTO) in December, the multilateral agency’s Director-General Ngozi Okonjo-Iweala is likely to visit India in the next few weeks.

  • Higher oil prices and coal shortages risk fanning inflation and slowing economic growth in India ahead of a central bank meeting, while punishing the nation’s currency and bonds.

  • International ratings agency Moody’s on Tuesday upgraded the outlook on India’s sovereign rating to ‘Stable’ from ‘Negative’ in a revision after nearly two years, taking off the table any risk of a downgrade in country’s rating to a junk status.

  • Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries appear to be shrugging off the high cost of refills and maintaining the same level of annual consumption at around three cylinders a year.

  • Housing sales jumped over two-fold at 32,358 units during July-September period across seven major cities as demand bounced back with unlocking of economic activities and lower COVID infections, according to property consultant JLL India.

  • China’s energy crisis has highlighted weaknesses in one of President Xi Jinping’s top priorities -- energy security -- that could have ramifications for the power system for years to come.

  • Speaker Nancy Pelosi provided House Democrats with a new Oct. 31 target date to pass the stalled bipartisan infrastructure bill, saying she backed off a pledge to bring the measure to a vote this week because it would have been defeated.

  • RBI's addition of gold reserves from 2018 will help the sovereign rating of India, a research by Indian Institute of Management-Ahmedabad released on Friday said.

  • The government has collected Rs 1,17,010 crore GST for the month of September which is 23% higher than the same period last year.

  • India's manufacturing sector activities improved in September as companies benefited from strengthening demand conditions amid the easing of COVID-19 restrictions, a monthly survey said on Friday.

  • Heavy rains caused by Cyclone Gulab in Telangana, Maharashtra, Gujarat, Madhya Pradesh and Chhattisgarh have damaged standing crops of soyabean, cotton, onion and urad at many places, at a time when the country has been looking forward to the new crop to tame commodity inflation.

  • The government is looking to extend the newly announced tax neutralisation scheme- RodTEP to special economic zones and export oriented units. The department of revenue will soon set up a committee to work out the details, a senior government official said.

  • Several exporters who had availed government schemes for lowering tax outgo against promised exports quantity have reached out to the government, seeking concessions citing continuing Covid-19 disruptions.

  • The government is working to ensure balanced trade deals and is in talks with countries with which India has equitable trade interest, said commerce and industry minister Piyush Goyal.

  • Rating agency Standard & Poor’s (S&P)  said high-frequency indicators suggest a strong rebound during the July-September quarter after a steep contraction in activity in the previous three months on the back of a severe Covid-19 wave.

  • Aadhaar custodian UIDAI has slashed the price for authentication by customers to Rs 3 from Rs 20 per instance to enable entities leverage its infrastructure for providing ease of living to people through various services and benefits.

  • Speaking to reporters at the Z-Morh tunnel site, Gadkari said his ministry is also building 20 tunnels of a total length of 32 km in Jammu and Kashmir and 11 tunnels of a total length of 20 km in Ladakh.

  • The Finance Ministry has set up two committees of state finance ministers who would review current tax slabs and GST exempt items, identify potential evasion sources and suggest changes in IT systems.

  • India and Taiwan are in talks on an agreement that could bring chip manufacturing to South Asia along with tariff reductions on components for producing semiconductors by the end of the year, people familiar with the matter said, a move that may spark fresh tensions with China.

  • India could tweak the way it measures women participation in the overall workforce to bring it on a par with international standards and fully capture their contribution.

  • The Department of Telecommunications (DoT) is likely to seek a clarification from the Supreme Court to determine whether satellite communications spectrum can be allocated without auctions, said an official.

  • With an aim to boost industrial and manufacturing activity and to drive economic growth, leaders from India and Australia have partnered for prosperity. Under the business forum, Australia will provide skills, knowledge and technology in areas such as agrifood, mining, infrastructure, healthcare and education.

  • Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade who was in New Delhi to launch CEPA negotiations with India told ET‘s Dipanjan Roy Chaudhury that a comprehensive and mutually beneficial agreement can be reached by December 2021

  • The Goods and Service Tax (GST) investigation wing has asked field units to issue show cause notices in time-barred cases that are pending investigation and warrant so, after it found that notices have been issued in only a few cases of tax evasion and availing input tax credit fraudulently.

  • The Asian Development Bank revised down India's economic growth forecast for the current fiscal to 10 per cent, from 11 per cent predicted earlier, citing the adverse impact of the second wave of the pandemic.

  • The Organisation for Economic Co-operation and Development (OECD) has marginally lowered India's growth projection for the ongoing fiscal to 9.7%, a reduction of 20 basis points (bps)

  • Commerce and industry minister Piyush Goyal said that in future, India can become self-reliant in the wood used for making agarbattis (incense sticks) by stopping its imports.

  • The finance ministry will kick-start the exercise to prepare the annual Budget for 2022-23 from October 12 amidst signs of revival of the Indian economy hit hard by the COVID-19 pandemic.

  • Cities offer agglomeration economies, thereby enabling more economic activities, better education, better healthcare and, overall, a better quality of life. This attracts people to cities in search of jobs and livelihoods.

  • Foreign Direct Investment (FDI) is critically important for India to become a USD 5 trillion economy, Deloitte CEO Punit Renjen said while noting that over two-fifths of the 1,200 business leaders surveyed in the US, UK, Japan and Singapore are planning additional or first-time investments in India.

  • India could further sweeten the deal for air conditioner and LED manufacturers chosen for the Production Linked Incentive (PLI) scheme for white goods, allowing investments made after April 1 this year to be eligible for benefits under the programme.

  • International Finance Service Centre (IFSC) at Gujarat International Finance Tec (Gift) City, a Special Economic Zone (SEZ), was conceptualised to create an offshore jurisdiction in India.

  • The Goods and Services Tax Council will today hold its first physical meeting since the start of the pandemic and is expected to take up issues such as inclusion of petroleum products within the tax ambit.

  • Amazon.com, Microsoft and Cisco Systems are among technology giants lining up to harness data from India’s farmers in an ambitious government-led productivity drive aimed at transforming an outmoded agricultural industry.

  • The drone PLI scheme which got the Cabinet approval yesterday will revolutionise the way business is conducted and impact many Indians and make their lives convenient.

  • Indian Banks' Association or IBA has taken up reformation of the corporate lending system, dealing with issues like syndicate lending and multiple financing, said its chief executive Sunil Mehta.

  • When Shah Rukh Khan, Virat Kohli or any other celebrity endorses a brand or a company, is the branding exercise only for the corporate head office or the whole organisation? That’s the question indirect tax authorities have started asking several companies.

  • India is willing to collaborate with East Asian partners in the production of generic drugs and medical technologies used for treatment of Covid-19 patients, as also in the area of vaccines production,minister of state for commerce and industryAnupriya Patel said.

  • India alone is home to 7 per cent (21GW) of the global coal project pipeline, which is 56 per cent of South Asia's total, a study showed on Tuesday, with the country moving slowly away from coal at a national level, however considerable progress is being made at the state level.

  • The central banks of India and Singapore will link their digital payment systems for "instant, low-cost fund transfers", said the two sides on Tuesday, aiming to finish the project by July 2022.