India has contributed USD 2.5 million to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). India is a dedicated donor to UNRWA and donated USD 20 million in support of core UNRWA services to Palestine refugees across the Middle East since 2018. The UNRWA was established as a humanitarian agency in 1949. This […]
India grants USD 2.5 million to UNRWA for Palestine refugees Read More »
Industry body FICCI on Thursday said India’s economy is estimated to grow 7 per cent in the current fiscal, lower than the earlier projection of 7.4 per cent, mainly due to the ongoing geopolitical uncertainties. Owing to geopolitical uncertainties and their impact on Asia’s third largest economy. However, in its latest round of Economic Outlook
FICCI downgrades India’s GDP growth forecast for 2022-23 to 7% Read More »
Morgan Stanley has reduced its FY23 real GDP expansion estimate for India by 0.40% to 7.2% on slower global growth. It has also estimated that the GDP growth for the FY24 will slow down to 6.4%, this is lower by 0.30% as compared to the earlier estimate. The RBI has estimated that the GDP of India will stand at 7.2% for FY 23.
Morgan Stanley cuts India’s FY24 GDP growth to 6.4% Read More »
The government has declared “zero coupon zero principal instruments” as securities. Zero coupon zero principal instrument: An instrument issued by a Not for Profit Organisation, will be registered with the social stock exchange segment of a recognised stock exchange. These will be governed by rules made by the Securities and Exchange Board of India. Social Stock Exchange: To serve
Govt declares ‘zero coupon zero principal instruments’ as securities Read More »
As per the SBI study, the average income of farmers between FY 2017-18 and 2021-22, has been increased in bracket of 1.3 -1.7 times across India. Income from allied and non-farm: 1.4-1.8 times(growth). Some crops like soybean in Maharashtra and cotton in Karnataka, incomes have in fact doubled during the same time. The study is based on primary data, contains granular data of various crops from agri-intensive
Farmers’ average income grew 1.3-1.7x between FY18 and FY22: SBI study Read More »
India’s merchandise trade deficit widened to a record $26.18 billion in June, wider than the government’s earlier estimate of $25.63 billion, after the Commerce Ministry revised upwards both the exports and imports figures for the month. The previous record monthly merchandise trade deficit was $24.3 billion in May. Last month’s trade deficit was almost three times as wide as the
Trade Deficit widens to record $26.1 Billion in June Read More »
The government has approved the continuation of the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) with the same rates as announced by the Ministry of Textiles for exports of apparel/garments and made-ups until March 31, 2024 in an effort to increase exports and create jobs in the textile industry. RoSCTL is a growth-oriented, forward-looking
Center extends State and Central Tax and Levies Rebate Program Read More »
Paper Import Monitoring System will come into effect from 1st October 2022, an importer need to provide advance information online about the import of papers and obtain a registration number. It is applicable on import by a Domestic Territory Area unit on a wide range of paper products covering 201 tariff lines, such as newsprint, handmade paper, tissue paper,
Paper Import Monitoring System to come into effect from 1 October Read More »
Nomura has cut its 2023 forecast for economic growth in India to 4.7% from its earlier projection of 5.4% amid recession fears and rising interest rates. Reason: Higher inflation, monetary policy tightening, dormant private capex growth, the power crunch and the global growth slowdown. Retail inflation rate of India – the CPI has been recorded 7.01% as
Nomura cuts 2023 GDP forecast for Indian to 4.7% Read More »
As per the data released by the Ministry of Statistics and Programme Implementation (MoSPI), retail inflation of India has eased marginally to 7.01% in June 2022 from 7.04% in May 2022. The CPI inflation has breached the upper limit of RBI’s tolerance band (2-6%) for the sixth consecutive month. The India’s Index of Industrial Production (IIP) has surged
