Economy

India’s Forex Reserves Surpass $600 Billion Mark After Four-Month Interval

India's foreign exchange reserves have witnessed a notable upswing, reaching $604 billion as of December 1, marking a significant milestone after a four-month hiatus. The last instance of the reserves crossing the $600 billion threshold was recorded on August 11...

Union Cabinet Allocates Rs 2,500 Crore for Extended Interest Equalisation Scheme

The Union Cabinet, led by Prime Minister Narendra Modi, has sanctioned an additional Rs 2,500 crore for the Interest Equalisation Scheme. The scheme is extended until June 30, 2024, aiming to support exporters from specific sectors and all MSME manufacturer...

India Implements Duty-Free Import of Yellow Peas to Regulate Pulse Prices

In a strategic move to stabilize pulse prices, the Indian government, through the Directorate-General of Foreign Trade (DGFT), has lifted restrictions on the import of yellow peas. The move allows duty-free shipments of yellow peas until March 31, 2024, aiming...

Monetary Policy vs. Fiscal Policy: Understanding the Differences

Monetary Policy vs. Fiscal Policy Understanding the distinctions between these two economic tools is crucial for comprehending how governments and central banks navigate the complex landscape of economic management. Definition Monetary Policy: A financial tool utilized by the central banks...

Crude Oil Dips Below $78 A Barrel According To Industry Data

  Crude oil futures faced a downward trend on Wednesday morning, with February Brent oil futures reaching $77.23, a marginal increase of 0.04 per cent. Simultaneously, January crude oil futures on WTI (West Texas Intermediate) experienced a dip, settling at...

Bharatmala Pariyojana Phase I Expenditure Reaches Rs 4.10 Trillion: Update by Nitin Gadkari

As of October 31, 2023, a total expenditure of Rs 4.10 lakh crore has been incurred under Bharatmala Pariyojana Phase I (BPP-I), according to Union Road Transport and Highways Minister Nitin Gadkari. The minister addressed concerns raised by the Comptroller...

CII Predicts Robust Growth for India’s Economy in FY24 and FY25

India's economy is poised for a strong rebound, with the Confederation of Indian Industry (CII) projecting a growth of 6.8% in the current fiscal year (FY24) and an acceleration to 7% in the subsequent fiscal year (FY25). CII attributes this...

Global Grain Price Outlook for 2024: Decline Expected, Rice a Standout Exception

The World Bank and research agency BMI, a unit of Fitch Solutions, have jointly forecasted a 6.5% decline in global grain prices in 2024. However, rice is expected to be an exception due to India's export restrictions and concerns related...

India’s Stock Market Surpasses $4 Trillion Mark, Closing in on Hong Kong

India's stock market achieved a significant milestone, surpassing a market value of over $4 trillion. This development highlights the rapid growth of the world's fifth-largest equity market, closing the gap with a struggling Hong Kong. In less than three years,...

India’s Services PMI Hits One-Year Low in November

The Services Purchasing Managers' Index (PMI) in India revealed a decline to 56.9 in November, marking a one-year low compared to October's 58.4. However, the sector maintained its expansion streak for the 28th consecutive month, remaining above the crucial 50-point...