Economy

  • India’s Unemployment Rate Rises to 8.30% in Dec 2022

    Unemployment rate in India rose to 8.30 per cent in December 2022, the highest in 16 months, according to data from Centre for Monitoring Indian Economy (CMIE). It was 8 per cent in the month of November. While urban unemployment...

    Published On January 4th, 2023
  • UPI Processes Record 7.82 bn Transactions in December, ends 2022 on a High

    India’s Unified Payments Interface (UPI) processed a record 7.82 billion transactions in December, worth a total of INR 12.82tn ($174.6bn). This represents an increase of 7.12% in volume and 7.73% in value compared to November. On a year-on-year basis, volume...

    Published On January 3rd, 2023
  • GST collections in December up by 15 percent to Rs 1.49 lakh cr

    December GST collections up by 15 percent According to a government announcement, India's goods and services tax receipts increased 15% year over year in December to Rs 1.49 lakh crore ($18.07 billion), suggesting robust economic activity throughout the holiday season....

    Published On January 2nd, 2023
  • Index Of Eight Core Industries Increases By 5.4 Per Cent

    Production of eight infrastructure sectors increased by 5.4 per cent in November against a 3.2 per cent growth in the same month last year on a better show by coal, fertiliser, steel, cement and electricity segments. Crude oil, natural gas and...

    Published On December 31st, 2022
  • India’s April-November Fiscal Deficit Widens on-year to 58.9% of FY23 Aim

    The government's fiscal deficit in end-November touched 59 per cent of the full year Budget Estimate on increased capital expenditure and slow growth in non-tax revenue. In actual terms, the fiscal deficit, which is the difference between expenditure and revenue,...

    Published On December 31st, 2022
  • India-Australia Economic Cooperation and Trade Agreement Comes into Force

    India, Australia Economic Cooperation and Trade Agreement comes into force from 29 December. India and Australia signed the Economic Cooperation and Trade Agreement (ECTA) on the 2nd of April 2022. ECTA is the first trade agreement of India with a...

    Published On December 29th, 2022
  • India to Become $10-Trillion Economy by 2035: CEBR

    The Centre for Economics and Business Research (CEBR), which is a UK-based economics consultancy, predicted that India will become the third-largest economy by 2037. 14th edition of the report noted that over the next five years, the annual rate of...

    Published On December 27th, 2022
  • RBI Emerges As The Largest Gold Buyer Among The Central Banks Across The Globe

    With 132.34 metric tonnes (MT) of gold purchase, RBI emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022. Also, RBI was the top gold buyer among its peers in 2020 while...

    Published On December 26th, 2022
  • IMF decreases FY23 India’s GDP growth forecast to 6.8%

    IMF decreases FY23 India's GDP growth forecast: In light of lower-than-anticipated output in the second quarter and more sluggish external demand, the International Monetary Fund (IMF) reduced India's growth prediction for FY23 from 7.4% forecasted in July to 6.8%. India's...

    Published On December 24th, 2022
  • NSE Gets Sebi Nod to Set up Social Stock Exchange

    One of the leading stock exchanges in India - The National Stock Exchange of India (NSE) received in-principle approval from the capital markets regulator Securities Exchange Board of India (Sebi) to set up a Social Stock Exchange (SSE) as a...

    Published On December 24th, 2022