As per the data, the economy expanded 8.2% in 2023-24 against a 7% growth in 2022-23. Representational file image. | Photo Credit: Reuters India’s real Gross Domestic Product (GDP) for FY24 is estimated to have grown by a faster-than-projected 8.2%, quickening from FY23’s 7% pace, the National Statistical Office (NSO) said in its provisional estimates…
Gold biscuits are seen in this picture illustration taken inside a jewellery showroom in Mumbai. India has moved 100 metric tonnes of its gold stored in the U.K. to domestic vaults in FY24. | Photo Credit: Reuters India has moved 100 metric tonnes of its gold stored in the U.K. to domestic vaults in FY24,…
File image used for representational purposes only. | Photo Credit: The Hindu Eight key infrastructure sectors’ growth rose to 6.2% in April on healthy expansion in the production of natural gas, refinery products and electricity, according to official data released on Friday. The production of eight sectors grew by 6% in March. The growth of…
The Central government’s fiscal deficit during 2023-24 at 5.6% of the GDP was better than previous estimates of 5.8% on account of higher revenue realisation and lower expenditure, according to official data released on Friday. In actual terms, the fiscal deficit — or gap between expenditure and revenue — was ₹16.53 lakh crore, or 5.63%…
The S&P Global logo is displayed on its offices in the financial district in New York City, U.S. File | Photo Credit: Reuters S&P Global Ratings on Friday said it will watch the fiscal numbers for the next 1-2 years, besides pro-growth policies of the new government, before deciding on India’s sovereign rating upgrade. S&P,…
Former CEA Arvind Subramanian. File | Photo Credit: The Hindu Revenues from the seven-year old Goods and Services Tax (GST) had not lived up to expectations, having attained pre-GST levels only now, and the objective of a ‘Good and Simple Tax’ remains elusive, former Chief Economic Advisor Arvind Subramanian averred on Thursday, terming the lack…
Workers labor in a factory of automotive aluminium wheel hubs in Binzhou city in east China’s Shandong province on May 27, 2024. China’s manufacturing activity unexpectedly fell in May, keeping alive calls for fresh stimulus as a protracted property crisis in the world’s second-largest economy continues to weigh on business, consumer and investor confidence. The…
Under its academic partnership, Open Innovation, Shell, the London-based oil and gas major says it has partnered with top Indian educational institutions to push deep research in various areas including decarbonisation to support its global energy transition. Ajay Mehta, VP and Chief Engineer R&D, Shell India told The Hindu, “These partnerships aim to foster innovation and accelerate…
Image used for representative purpose only. File | Photo Credit: P.V. Sivakumar Jet fuel or ATF price on Saturday was reduced by a steep 6.5% and that of commercial LPG used by hotels and restaurants by ₹69 per 19-kg cylinder on declining international oil prices. Aviation turbine fuel (ATF) price was cut by ₹6,673.87 per…
The new rates of windfall tax on domestically-produced crude oil are effective from June 1. File | Photo Credit: Reuters The government has reduced windfall tax on domestically-produced crude oil to ₹5,200 per tonne from ₹5,700 with effect from June 1. The tax is levied in the form of Special Additional Excise Duty (SAED). SAED…
