Indian Economy

The Ministry of Steel has written to the Finance Ministry asking it to look at the possibility of levying customs duty on Chinese stainless steel shipments coming into India. Such a duty will benefit the domestic stainless steel industry which has been badly hit by such imports and is “facing …

The latest Consumer Price Index data showing a resurgence in retail inflation proves exactly why the RBI’s monetary authorities have reiterated the need to keep the policy approach firmly tilted towards ensuring price stability. CPI-based provisional inflation With food prices becoming unmoored and spiralling up, June’s CPI-based provisional inflation reading …

SEBI floated a consultation paper mandating additional disclosure norms from high-risk foreign portfolio investors (FPIs) that have either concentrated single group exposures and/ or significant overall holdings in their India equity investment portfolio. There is a need for additional disclosures for certain types of FPIs in order to have greater investor protection, and …

India is considering cutting its import tax on solar panels by half and is seeking a rollback in goods and services taxes on the devices. The decision is aimed to make up for the shortfall in local output amid rising demand for renewable energy. Government plans to cut the import tax on solar panels from 40% …

According to Reserve Bank of India (RBI) Annual Report 2022-23, India’s growth momentum is likely to be sustained in 2023-24. Highlights of the RBI annual Report: According to RBI, in the atmosphere of easing inflationary pressures, Indian economy will be supported by: Sound macroeconomic policies Softer commodity prices A robust financial sector …

In continuation of the declining trend that has been observed since June last year, India’s exports and imports continue to shrink across many nations for most items. Details: The imports have declined more than the exports thus narrowing the trade deficit. While the decline in exports was widespread, affecting most of the major …

According to the Agricultural Ministry, India will achieve foodgrain production of 3305.34 Lakh Metric Tonnes (LMT) in the current agricultural year According to the third advance estimates of production of major crops, government is estimating record production of rice, wheat, maize, soybean, rapeseed and mustard, and sugarcane. The total foodgrain production is likely to …

SEBI will soon introduce a new light-touch regulatory framework for passively managed mutual funds like exchange traded funds (ETFs) and index funds, which have seen a sharp uptick in assets under management (AUM) in recent years, a member said. “We are going to introduce new mutual fund regulations which we …

After remianing a net purchaser of US dollar for three consecutive years, RBI became the net seller of US dollar in FY2023. RBI sold $25.52 billion on a net basis in the spot foreign exchange market in FY 2023. The rupee came under heavy pressure due to the Russia-Ukraine conflict and interest rate hikes by the …

In an unprecedented situation the US government is on the verge of Defaulting on its borrowing that could potentially hit economies around the world. The US government has never defaulted, and a default could have catastrophic consequences for America and for the world. The issue was serious enough for the American President to cancel …