The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) improved from 53.7 in September to 55.9 in October. Data shows that output and new orders expand at fastest rates in seven months. Amid global inflation concerns, input costs saw the strongest increase since 2014.
Beyond disclosing their ownership in existing foreign assets, people named in the Pandora expose are being told to spell out details of bank accounts which no longer exist and were closed long ago, firms that were dissolved, directorships in overseas firms and tax residency status over the past 16 years.
"Private market investors have to pay aggressive multiples to access India's growth potential. Yes, it's a high price, but per unit of growth, it can be reasonable, and we are willing to pay a full and fair price for the investments that fit our themes and meet our criteria," David Layton, chief executive and head of private equity, told ET in an exclusive interaction.
Steel manufacturing firms from Russia are expected to make investments in India under the production-linked investment (PLI) scheme for specialty steel, according to an official. Mukesh Kumar, the Director of Steel Research & Technology Mission of India (SRTMI), said there are some Russian companies interested in setting up businesses in India.
PMFBY was launched in 2016-17 with many improvements over the erstwhile crop insurance schemes. The operational guidelines of the scheme were revised with effect from Rabi 2018 and kharif 2020, respectively, to ensure the benefits reached farmers adequate and timely.
The incremental collection of Rs 42,931 crore in the first six months of the fiscal year 2021-22 (April 2021 to March 2022) is four times the Rs 10,000 crore liability that the government has in the full year towards repayment of oil bonds that were issued by the previous Congress-led UPA government to subsidise fuel.
The total estimated cotton supply till end of the 2021-22 season, that is up to September 30, 2022, was at 445.13 lakh bales, which consists of the opening stock of 75 lakh bales at the beginning of the season, crop for the season estimated at 360.13 lakh bales and imports for estimated at the same level as in the last year at 10 lakh bales.
The PM, according to the foreign secretary, stressed the need for resilient global supply chains, "one health, one earth" and collaboration for research and development in the health sector. The PM also referred to the global corporate tax--an idea he had presented at the 2014 G20 summit.
In the Union Budget presented earlier this year, the government allocated Rs 73,000 crore to the scheme for financial year 2021-22. It was 34 per cent less than the 2020-21 revised estimate of Rs 1.11 lakh crore.
NICDP aims to develop world-class industrial nodes that are supported by efficient urban agglomerations and multimodal connectivity, including international gateways like ports and airports and inclusive, climate-resilient, and sustainable infrastructure.
The Competition Commission of India concluded that OPs had indulged in cartelization and bid rigging. Here OPs refer -- Shivalik Agro Poly Products Ltd, Climax Synthetics Pvt Ltd, Arun Manufacturing Services Pvt Ltd, Bag Poly International Pvt Ltd, Shalimar Plastic Industries and Dhanshree Agro Poly Product.
"During the current year, 8,951 hectares area for exotic fruits and 7,154 hectares area for indigenous fruits will be brought under cultivation," Tomar said addressing a conference to commemorate the international year of fruits and vegetables.
In appropriate cases, quality parameters can be given weightage during evaluation of the proposal in a transparent and fair manner, through a Quality cum Cost Based Selection (QCBS) as an alternative to the traditional L1 system, the ministry said.
In the reporting week ended October 22, the dip in the reserves was due to a fall in foreign currency assets (FCA), a major component of the overall reserves, and in the gold reserves, Reserve Bank of India's (RBI) weekly data released on Friday showed.
New Delhi, Retail inflation for industrial workers eases to 4.41 per cent in September mainly due to lower prices of certain food items. "Year-on-year inflation for the month (September) stood at 4.41 per cent compared to 4.79 per cent for the previous month (August 2021) and 5.62 per cent during the corresponding month (September 2020) a year before," a labour ministry statement said.
In a notification, the Directorate General of Trade Remedies (DGTR) has said there is a likelihood of continuation/ recurrence of dumping and injury to the domestic industry in the event of revocation of the existing duty on imports of certain 'bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel or alloy steel' from China.
The ASEAN bloc could tap India's technology and start-up scene to grow and facilitate finance and trade in practical ways, Singapore Prime Minister Lee Hsien Loong said, underlining that the grouping values New Delhi's support amid an evolving regional architecture.
Infrastructure output, which comprises eight sectors including coal, crude oil and electricity and accounts for nearly 40% of industrial output, rose by 16.6% year on year over the April-September period, the data showed.
In dian Finance Minister Nirmala Sitharman on Friday met her Singapore counterpart Lawrence Wong to discuss opportunities for boosting economic and trade relations between the two Asian economies.
The deficit figures in the current fiscal appear much better than the previous financial year when it had soared to 114.8 per cent of the estimates mainly on account of a jump in expenditure to deal with the COVID-19 pandemic. In absolute terms, the fiscal deficit or gap between expenditure and revenue was Rs 5,26,851 crore at end of August, the CGA said.
The board also deliberated upon possible measures for addressing the emerging challenges, the Reserve Bank of India (RBI) said in a release. The 591st meeting of the board was held under the Chairmanship of Governor Shaktikanta Das. His tenure as the Governor has been extended by three years up to December 2024.
Lauding India's policy efforts to push reserves and strengthen its external position, the multilateral agency has advised the central bank against excessive forex market intervention." Further accumulation of reserves is less warranted, and foreign exchange intervention should be limited to addressing disorderly market conditions" IMF said in its recently released country report for India.
As per the Department of Investment and Public Asset Management (DIPAM) website, so far in the current financial year (April-March) the government has received Rs 15,651 crore as dividend from central public sector enterprises (CPSEs).
Most of the developed economies like Australia, Canada, European Union, Germany, Japan, and the United States, have higher carbon dioxide emissions per capita compared to developing countries like China, India, Indonesia, and Malaysia, UNCTAD said.
Department of Economic Affairs Additional Secretary Rajat Kumar Mishra and ADB India Resident Mission Country Director Takeo Konishi signed the pact.
Earlier, there were reports, quoting sources, that the government has written to Facebook seeking details of the algorithms and processes used by the social media giant, following allegations that the platform failed to check the spread of fake news and hate speech
The Reserve Bank has been continuously making forex purchases, and in FY21, it bought Rs 5.1 lakh crore worth of forex and the forex reserves swelled by USD 103.72 billion. Despite the second wave, the rupee gained strength and even went below 73 to a dollar, SBI Research said on Thursday in its report.
In September, retail inflation eased to 4.35% but core inflation, excluding volatile prices of food and energy, has remained near 6% for the last few months.
"The economic news has been favourable on balance, on account of better than projected fiscal outcomes, a rebound in most high-frequency indicators, and another impetus to policy reform, including a hitherto inconceivable privatisation of Air India," the National Council for Applied Economic Research (NCAER) said in its monthly review of the economy.
The government had released Rs 75,000 crore in July and Rs 40,000 crore earlier this month, as back-to-back loan in-lieu of GST compensation shortfall, amid the Covid 19 pandemic that had severely affected revenue generation and in turn capital expenditure for states.
On the issue of major investments being largely concentrated in western UP and Noida-Greater Noida region, Satish Mahana, the state minister for industrial development , indicated that picture is changing. He mentioned Brahmos coming to Lucknow.
Of UP's ₹1.21 lakh crore exports in FY21, almost 80% or ₹96,000 crore were of ODOP products. As per officials, the target is to clock almost ₹1.92 lakh crore exports by 2025-26, in line with the state's target of becoming a $1 trillion economy in the next five years.
The state also ranked second in the state-wise performance rankings of Direct Benefit Transfer (DBT), with a score of 85.2, behind Haryana, which had a score of 88.8. In the current financial year, UP has paid out more than ₹46,700 crore via DBT under various schemes, saving an estimated ₹69 lakh, according to government data.
The state is focusing on creating infrastructure; bringing electricity, roads and water to every household; and making every village digital. Equal focus has been given on increasing farmer income amid protests, and employment generation.
Morgan Stanley said it expects a structural multi-year earnings recovery in India, but at 24 times forward price to earnings it will look for some consolidation ahead of US Federal Reserve's tapering, an RBI hike in February and higher energy costs.
“Union Finance Minister Smt. @nsitharaman embarks on an official visit to attend #G20 Joint Finance & Health Ministers meeting in #Rome to discuss measures to strengthen #COVID19 #PandemicPrevention, #preparedness & #response. The meeting precedes #G20RomeSummit,” the Finance Ministry tweeted.
The document dated October 25 says it wants to achieve this by nudging all regulators to work together to reduce process overlapping and establish timelines for requisite approvals.
“Air India has stopped extending credit facility on account of purchase of air tickets…Therefore, all ministries and departments are directed to clear Air India’s dues immediately,” an office memorandum issued by the department of expenditure said Wednesday.
Overseas buyers from over 90 countries including the US, China, UAE, UK, New Zealand and Saudi Arabia have registered for the fair, Export Promotion Council for Handicrafts (EPCH) said on Wednesday.
K V Kamath began his career in 1971 with the erstwhile development finance institution (DFI) ICICI and he played a major role in ICICI Bank's turnaround when it was hit by widespread rumours of 'run-ons'.
“The Prime Minister has approved the reconstitution of the Economic Advisory Council to the PM (EAC-PM) for a period of two years or until further orders, whichever is earlier,” the cabinet secretariat said in a notification dated October 27.
Emphasising that new India is evolving as a job creator rather than a job creator, he said the SCO platform will help in innovation and cross-border learnings and the number of unicorns went up to three per month from two per month.
This figure includes income tax refunds of Rs 27,965 crore in 76,21,956 cases and corporate tax refunds of Rs 74,987 crore in 1,70,424 cases, according to an official Twitter post. "CBDT issues refunds of over Rs 1,02,952 crore to more than 77.92 lakh taxpayers from 1st April, 2021 to 25th October, 2021."
Of the USD 2 billion loan, the Manila-based ADB is expected to finance USD 1.5 billion and AIIB is considering providing USD 500 million, AIIB's Vice President D.J. Pandian said here on Tuesday. "The ADB has agreed to finance USD 1.5 billion and AIIB will supplement with another USD 500 million," Pandian said.
According to ILO, the loss of working hours in 2021 because of the pandemic are significantly higher than previously estimated largely due to uneven roll-out of vaccination and majority of global stimulus being concentrated in high-income countries.
The I-T Department has expanded the list of high-value financial transactions which would be available to taxpayers in their form 26AS by including details of mutual fund (MF) purchases, foreign remittances, as well as information in ITRs of other taxpayers.
NHAI plans to sell about 32 more operational road assets spanning 1,500 km as well as upcoming ToT (toll operate transfer) projects
The recovery coincides with the start of India’s months-long festive season beginning with Ganesh Chaturthi in September, heralding the boom season for consumption.
For a sustainable ecosystem to materialise there is a need for handholding by the government and it is high time for the policy makers to start looking at instruments that can strengthen the R&D ecosystem.
Assuring India's cooperation and support to the AIIB for its future endeavours, she urged the Beijing-based lender to set up a Resident Board and Regional Offices to ensure accountability, transparency and quality of operations and investments.
