Economy

Covid Call: Over a third of EPFO Members Opted for Non-Refundable Withdrawals

In response to the challenges posed by the Covid-19 pandemic, the Employees’ Provident Fund Organisation (EPFO) introduced a special window allowing non-refundable withdrawals for its subscribers. This measure aimed to alleviate financial strains during the unprecedented times. Magnitude of Withdrawals...

Global economy: Inflation eases in US, UK; India’s trade gap widens in Oct

In recent developments, both the United States and the United Kingdom have experienced a slowdown in inflation. This has led to growing speculation that central banks on both sides of the Atlantic may initiate interest rate cuts by the middle...

India Set to Extend Rice Export Bans Through 2024, Impacting Global Prices

India, the leading global exporter of rice, is anticipated to prolong its restrictions on overseas sales into the next year. This decision is poised to keep rice prices near their highest levels since the 2008 food crisis. Background: For the...

Rural Retail Inflation Outpaces Urban Counterpart for 18 Out of 22 Months

As the central government continues its efforts to address economic challenges, recent data from the National Statistical Office (NSO) reveals a concerning trend in India's inflation dynamics. Despite initiatives like the extended free-food programme and ongoing efforts to stimulate rural...

India’s GDP Surpasses $4 Trillion Mark: A Historic Milestone

In a significant economic achievement, India's Gross Domestic Product (GDP) has crossed the $4 trillion mark in nominal terms. This milestone underscores India's robust economic growth and solidifies its position as a major global economic force. Driving Forces Behind the...

DGFT Forecasts Explosive Growth in Indian E-commerce Exports, Aiming for $200 Billion in 6-7 Years

India's Directorate General of Foreign Trade (DGFT) predicts a remarkable surge in the country's e-commerce exports, projecting a potential rise from the current $1.2 billion to an impressive $200 billion within the next six to seven years. The DGFT, Santosh...

Positive Trends in India’s Exports During April-October 2023: Netherlands, UK, and Australia are Key Drivers

In the initial seven months of the financial year 2023-24 (April-October), India's export landscape witnessed notable dynamics, with the Netherlands, the UK, and Australia emerging as pivotal drivers of the nation's outbound shipments. Preliminary data from the commerce ministry underscores...

RBI Report Highlights Food Inflation as Sole Threat to 4% CPI Target

The Reserve Bank of India (RBI) has identified rising food prices as the primary challenge to achieving its 4% Consumer Price Index (CPI) target, according to its 'State of the Economy' report. The central bank anticipates potential disruptions to the...

S&P Global Predicts 6-7.1% Growth for India’s Economy in 2024-2026

S&P Global, in its latest report, has forecasted robust economic growth for India in the medium term, estimating a GDP expansion ranging between 6 to 7.1 percent annually from FY24 through FY26. Economic Growth Momentum: The report emphasizes that India's...

India Responds to Plummeting Oil Prices with Substantial Tax Reductions

In a strategic move to counter the recent drastic fall in international oil prices, the Indian government has implemented significant tax adjustments, specifically targeting crude oil and diesel. These revisions aim to mitigate the impact of the plunging global oil...