Economy

Economy News

China pips US to be India’s largest trade partner in FY24

Goods imports from neighbour crosses $100-billion. While China emerged as India’s largest goods trading partner, outdoing the US by a modest $ 116 million in the last financial year, it.

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Govt eyes extra $50-billion foreign flows annually

Global financial hubs being approached. With a sharp 62% decline in net foreign direct investment (FDI) to India in FY24 and a looming crisis in finding non-Budget funds to finance.

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India economy likely grew at weakest pace in a year in January-March: Report

The country’s gross domestic product (GDP) unexpectedly grew by 8.4% in October-December compared to a year earlier, thanks to a sharp drop in subsidies which provided an artificial boost to.

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India logs robust business activity growth in May

Services firms recorded a sharp increase in business activity, the steepest in four months, while factory production rose at the slowest pace since February, said S&P Global. Propelled by a.

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Govt may resume open market sale of wheat next month

Having addressed the tight wheat stock situation with higher-than-usual procurement, the government is keeping its fingers crossed and has decided to take a call on whether to resume open market.

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Reserve Bank of India’s surprise gift to govt

Record $25 billion payout is more than double what was budgeted. Contingency risk buffer increased to 6.5% for FY24. In a surprise gift to the government, the Reserve Bank of.

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Over 7,000 farmer groups sell on ONDC platform

ONDC is being promoted as an alternative to global e-commerce giants such as Amazon and Walmart, supporting small enterprises. More than seven thousand farmers’ collectives across various states are now.

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Govt recovers Rs 852 crore under amnesty scheme for exporters

Under the scheme September 30 was the deadline for availing the scheme and the deadline of payment of customs duty and interest was March 31, 2024. The one-time amnesty scheme.

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Govt procures over 26 MT wheat

While overall procurement of grain until Saturday was 26.07 MT, marginally below last year’s level, procurement is likely to continue until the end of the month. After a sluggish start.

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Govt may consider lifting curbs on rice exports

Sources told FE that the government will assess the sowing of kharif paddy—expected to commence next month—before taking a call on removing curbs on shipments. Given the huge surplus of.

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