India Economy News

Economy

Smartphones now fourth largest export item from India, up 42% to $15.6 billion in FY24

Smartphones have become the fourth-largest export item from India, reaching $15.6 billion in FY24 with a 42% growth. The surge in exports was mainly driven by shipments to the United States, the United Arab Emirates, the Netherlands, and the UK.

1 min read23 May 2024
Economy

India eyes ₹1 lakh crore bonanza from central bank, aiding budget

India’s central bank is expected to pay a dividend of up to ₹1 lakh crore to boost the government’s coffers and meet budget deficit targets. The RBI’s surplus transfer could help new governments post-elections with greater spending flexibility.

3 min read22 May 2024
Economy

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today

There is no change in windfall tax for diesel and aviation turbine fuel (ATF), as per a government notification.

1 min read16 May 2024
Economy

‘Not very sure how GDP numbers are coming..’ Asian Paints CEO Amit Syngle says it does not ‘correlate with core sectors’

Asian Paints MD and CEO Amit Syngle said the GDP correlation has gone for a toss in the current year. The GDP numbers being talked about do not seem to correlate to core sectors such as steel and cement.

2 min read15 May 2024
Economy

Wholesale inflation spikes in April, rains may cool prices

Wholesale Price Index rises 1.26% in April from 0.53% in March, government data shows. An increase in the prices of food, fuel and primary articles led to the rise.

2 min read17 May 2024
Economy

India CPI inflation preview: April CPI inflation likely to stay below 5%; core inflation may ease further

India CPI inflation preview: India’s retail inflation is expected to hover around 4.80 per cent in April, with food and beverage inflation likely to rise slightly. Experts anticipate RBI to maintain its policy rates in the upcoming June meeting amid concerns over food price uncertainties.

3 min read13 May 2024
Economy

No surprise that India’s economy growing faster than China, says IMF APAC Director Krishna Srinivasan

Krishna Srinivasan, the Director of the IMF’s Asia and Pacific Department attributed India’s impressive growth to robust private consumption and public investment

1 min read20 Apr 2024
Economy

‘Young India has a Virat Kohli mentality that…,’ says ex-RBI Governor Raghuram Rajan

Speaking at an event former RBI Governor and noted economist Raghuram Rajan said it is important to address unemployment and look at the significance of job creation for the economy

3 min read17 Apr 2024
Economy

Retail inflation and factory output deliver twin thrust to Indian economy

Retail inflation was at a 10-month low in March, and industrial output was at a four-month high in February

4 min read12 Apr 2024
Economy

India’s growth outlook of 8% not official view, says IMF spokesperson

Responding to media inquiries, IMF spokesperson Julie Kozack explained that Subramanian’s statements were not made in his role as India’s representative at the global agency.

2 min read5 Apr 2024
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Budget

The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared

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