It was a protest which held a mirror to the government of a state taking pride in its commitment to democracy, gender equality and social indices.One person, who in his employed days had known governments and political parties at close quarters, told me that public perception of how the Kerala government handled the ASHA workers' strike had been terrible, reports Shyam G Menon.
Forex dealers said strength in euro against the US dollar overseas and increased capital inflows supported the rupee.
India's gold imports, which have a bearing on the country's Current Account Deficit (CAD), rose 6.4 per cent to $12.9 billion during April-July this fiscal due to healthy demand, according to government data. The imports stood at $12 billion during the same period a year ago. In July 2022, however, imports of the precious metal fell sharply by 43.6 per cent to $2.4 billion, as per the latest data released by the commerce ministry.
The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand. World Bank had in June projected India to grow at 6.6 per cent for FY24. According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.
The Reserve Bank of India's (RBI's) outstanding net forward purchases of US dollars fell by more than 50 per cent from the last quarter of FY22 to $30.86 billion in the June quarter (Q1). The net forwards position was at $65.79 billion at the end of the last fiscal year. The purchases fell by $18.33 billion in June as the central bank intervened in both the forwards and the spot market in order to protect the rupee from excessive depreciation in the face of a widening trade deficit.
Commerce and Industry Minister Piyush Goyal on Monday said the existing foreign trade policy (FTP) will be extended for six months till March 31 next year. The government had earlier extended the FTP 2015-20 until September 30 this year due to the Covid-19 crisis. The FTP provides guidelines for enhancing exports to push economic growth and create jobs.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Shrachi Rarh Bengal Tigers emerged victorious in the men's Hockey India League, securing the title with a thrilling 4-3 win over Hyderabad Toofans in the summit clash.
Investor sentiment remained upbeat on narrowing trade deficit and sustained foreign fund inflows.
India's gold imports, which have a bearing on the country's current account deficit (CAD), rose by 33.34 per cent to $46.14 billion during the 2021-22 fiscal on account of higher demand, according to official data. Gold imports were worth $34.62 billion in 2020-21. The surge in gold imports during the last financial year contributed to the widening of the trade deficit to $192.41 billion, against $102.62 billion in 2020-21.
Indian exports rebounded last year after declining by 3.5 per cent in the previous year in keeping with changes in global trade patterns. Global exports grew by 12.4 per cent (by volume) in 2010 after falling by 10.9 per cent in the previous year (2009).
The trade gap was $11.66 billion in December 2015 while in September 2015 it stood at $10.16 billion
India's imports from Russia rose 64 per cent to $36.27 billion during the April-October period this fiscal on higher shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first seven months of this fiscal. The imports were $22.13 billion during April-October 2022.
Addressing the 'Namaste Trump' event at the Motera Stadium in Ahmedabad, Trump said that both the countries are in the early stages of discussion for an 'incredible' trade agreement to reduce barriers of investments.
Chief Economic Advisor V Anantha Nageswaran on Thursday said the economy is expected to grow at 6.5 per cent in the current fiscal notwithstanding deficient rains in August. India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. India's economy in Q1 grew at the fastest pace in a year, on the shoulders of a boost in capital expenditure both at central and state levels, along with stronger consumption demand, especially in rural areas, and improved performance in the services sector, he said.
Trade deficit during the month narrowed to $17.4 billion as against $12.72 billion in the same month last year
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
Growing for the third consecutive month, the country's exports rose marginally by 0.67 per cent year-on-year to $27.93 billion in February even as trade deficit widened to $12.62 billion, according to official data released on Monday.
The country's exports in December surged 37 per cent on an annual basis to $37.29 billion, the highest-ever monthly figure, government data showed on Monday.
The declining trade deficit figures clearly reflect that the US exports to India are increasing.
India's imports from Russia rose by about 67 per cent to $30.42 billion during the April-September period this fiscal on higher shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first half of this fiscal. The imports were $18.24 billion during April-September 2022.
To find out opportunities for Malaysian companies and increase trade with Gujarat, Consul General in India, Mohamed Hatimi Abas and Vice Consul Omar Salleh today visited a trade exhibition at Gujarat University Convention centre.
The decline in gold imports has helped in narrowing the country's trade deficit to $106.84 billion during the eight-month period under review as against $133.74 billion in the year-ago months.
The central government is on track to meet its fiscal deficit target of 6.4 per cent of the GDP for 2022-23 on the back of strong growth in revenue collections, the World Bank said in its India Development Update on Tuesday. High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel. Notwithstanding an increase in spending due to expanded fertilizer subsidies and food subsidies for vulnerable households in response to the commodity price shock, the government is on track to meet its FY22/23 fiscal deficit target of 6.4 per cent of GDP and the general government deficit is projected to decline to 9.6 per cent from 10.3 per cent in FY21/22 and 13.3 per cent in FY20/21.
In January last year, the US signed the first phase of the trade deal with China, which former President Donald Trump described as historic, concluding more than a year of tough negotiations including several months of suspension of talks between the two largest economies of the world.
Two-time Olympic medallist PV Sindhu overcame a sluggish start to defeat world number seven Han Yue of China in a thrilling contest, progressing to the quarterfinals of the Denmark Open Super 750 badminton tournament on Thursday.
Subdued demand from developed countries and blocs like the US and EU is impacting exports of key sectors including engineering, gems and jewellery and may have implications on India's exports in case the global situation does not improve in coming months. Global inflation, Russia-Ukraine war, simmering China-Taiwan crisis and supply disruptions are hurting economic growth worldwide, leading to poor demand, experts say. The world merchandise trade volume is expected to grow 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, according to the World Trade Organization forecast, released in April.
Imports increased by 21.7 per cent to $39.5 billion in October, according to data released by Commerce Secretary Rahul Khullar in New Delhi on Tuesday.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
'All sorts of tactics are used on political adversaries.'
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Imports too rose by 0.46 per cent to $34.25 billion during the month under review, leaving a trade deficit of $10.36 billion.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
We are looking at bringing quality control orders for mass production items such as smart meters and ceiling fans. This will benefit our own industry and consumers, a government official said.
The recent stimulus measures announced by China have seen most analysts sit up and take notice.
India's current account slipped into a deficit of $9.6 billion or 1.3 per cent of GDP in the September quarter, the Reserve Bank said on Friday. The current account, which records the value of exports and imports of both goods and services along with international transfers of capital, was in a surplus mode both in the quarter-ago and year-ago periods. India's current account surplus had stood at $6.6 billion or 0.9 per cent of GDP in the April-June 2021 quarter, while in the year-ago period (Q2FY22), the surplus had stood at $15.3 billion or 2.4 per cent of the GDP, the data said.
Trade deficit marginally widened to $9.85 billion as against $9.72 billion in February 2019.
During the meeting, the US said it will not add new tariffs on Chinese exports, China's state -run China Daily reported.
Out of 30 key export sectors, as many as 22 showed negative growth in September.
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