Indian Economy

The Union Government has disbursed around ₹1,645 crore in performance-linked incentives (PLI) for electronics manufacturers so far, as part of its efforts to bring in more of the electronics supply chain to India. The push for semiconductors, or integrated circuits, is far more pressing now, as these chips are found …

Even as the global economy is set to slow down or even enter a recession in 2023 as financial markets worldwide face heightened uncertainty, the Indian economy is steadily gathering momentum, Reserve Bank of India (RBI). India had emerged from the pandemic years stronger than initially thought, they asserted. “Unlike …

The war against black money stashed abroad appears to have slowed down in the first nine months of FY23 compared with the previous two years, with just 59 assessment orders for tax demands totalling ₹2,098 crore being passed, Minister of State for Finance Pankaj Chaudhary’s reply in Parliament shows. In …

GDP growth may have slowed to 4.4% in the third quarter (Q3) from 6.3% in Q2, but “growth has not gotten shallower” and the momentum has sustained through the course of 2022-23, the Finance Ministry asserted on Monday. Macroeconomic stability was likely to get a further boost this year as …

The Prime Minister of India has informed that PM MITRA mega textile parks would be set up in some states which will boost the textiles sector in line with 5F (Farm to Fibre to Factory to Fashion to Foreign) vision. Ministry of Textiles78 Aim: The PM Mega Integrated Textile Regions and …

The failure of Silicon Valley Bank and Signature Bank in the US raises questions on the safety of depositors’ wealth everywhere but such failures are unlikely in the Indian system. What is the basis for the confidence in the resilience of Indian banks? Domestic banks have a different balance sheet structure. …

India Bags Golden & Silver Star at The International ‘Golden City Gate Tourism Awards 2023 at ITB, Berlin 2023. The Golden City Gate Tourism Multi-media Awards are given annually in various categories related to the Tourism and Hospitality sectors. The ‘Golden City Gate’ is a creative multi-media international competition for countries, cities, regions and hotels. The Golden City Gate is the creative and innovative expression of …

Last December, Chief of Defence Staff General Anil Chauhan spoke of the need “to repopulate vast unoccupied areas, located even far away from the last villages of the state towards the border” and emphasised the importance of promoting border tourism in such areas. The Government of India has made unprecedented …

India’s money laundering laws will apply to trade in cryptocurrencies, the Finance Ministry said in a notification dated March 7. The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under …

The sale of gold jewellery will not be allowed without a Hallmark Unique Identification (HUID) number. HUID number is a six-digit alphanumeric code. It is given to every piece of jewellery at the time of hallmarking. It is a unique identifier for each gold item. The jewellery is stamped with the unique number manually at the Assaying & Hallmarking centre. Features: …

Global index providers are reviewing some of the stocks’ inclusion in its indices that are replicated by many foreign portfolio managers after the Hindenburg report. Index funds An index fund is a portfolio of stocks or bonds designed to mimic the composition and performance of a financial market index. Index funds have lower expenses and fees than …

This is a series of post-budget webinars being organized by the Government with an aim to brainstorm ideas for effective implementation of the initiatives announced in the Union Budget-2023. In his address, the Prime Minister, Shri Narender Modi  said that tourism has always been a part of our social and …

A steep price increase of over 100% from prepandemic levels of certain raw materials for essential drugs — called active pharmaceutical ingredients (API) — has raised eyebrows in the industry. Interestingly, the sharp hike — which should have corrected by now with the improvement in supply chain and logistics — …

Two major indigenous defence projects — the acquisition of 70 basic trainer aircraft for the IAF and three cadet training ships for the Navy — worth almost ₹10,000 crore were cleared by the cabinet committee on security. The 70 Hindustan Turbo Trainer-40 (HTT-40) aircraft will be supplied by defence PSU …

Bank credit growth slowed down to 16.8% in the October-December 2022 period from a year earlier, RBI data showed. This compares with 17.2% seen in the previous quarter, according to the quarterly statistics on bank deposits and credit, released by the Reserve Bank of India. A year earlier, credit growth …

The One District One Product (ODOP) programme under Department of Commerce (DoC) and Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry is aimed at creating sustainable employment at the district level while promoting holistic socio-economic development. The idea is to select, brand, and promote …

India’s research and development (R&D) expenditure-GDP ratio of 0.7% is very low when compared to major economies and is much below the world average of 1.8%. The main reason is the low investment in R&D by the corporate sector. While the corporate sector accounts for about two-thirds of gross domestic …

India’s Goods and Services Tax (GST) revenues grew 12.7% in January to hit almost ₹1.59 lakh crore, the second highest monthly collections on record, as per revised figures from the Finance Ministry. Earlier estimates of GST revenues for January had pegged collections at about ₹1.56 lakh crore till the evening …

India continues to remain a relative “bright spot” in the world economy, and will alone contribute 15% of the global growth in 2023, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said. While digitisation pulled out the world’s fifth-largest economy from pandemic lows, prudent fiscal policy and significant financing for …

The divide between the rural and the urban has grown due to an inherent urban bias among policymakers and institutions, including the government. This happens because groups in urban areas are able to effectively influence these institutions in their favour. Second, the spill-over from markets in urban areas is also …