IMF says India’s GDP growth to moderate to 7 pc in 2024 and 6.5 pc in 2025, ETCFO
India’s GDP growth is likely to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025 because the pent-up demand accumulated during Covid has exhausted, as the economy reconnects with its potential, the International Monetary Fund (IMF) said on Tuesday. About
Religare Enterprises clarifies IRDAI’s no-objection letter not a final regulatory nod for Burman family’s open offer
Religare Enterprises Ltd (REL), currently at the centre of a corporate control tussle, asserted on Friday that IRDAI’s recent no-objection letter to the Burman family’s open offer for REL shares should not be interpreted as regulatory approval for the proposed acquisition of the diversified financial services group. This clarification aims
CBIC destroys ₹460 crore worth of drugs, foreign cigarettes, and contraband in SpecialCampaign4.0
The Finance Ministry on Friday said that various wings of the Customs department have jointly destroyed a total of around 49 lakhs cigarettes of foreign origin, around 73 Kgs of NDPS drugs (Heroin, Cocaine, Ganja, Charas, etc), Gutkha/ Pan Masala and eCigarettes. Also read: CBIC urges strict reviews of Govt
RBI deputy governor, CFO News, ETCFO
India’s GDP growth is projected at 7.2 per cent in 2024-25, around 7 per cent in the next fiscal, and after that, there is a strong likelihood that the growth will revert to the 8 per cent trend, said Reserve Bank of India deputy governor Michael Debabrata Patra. He was
Govt to soon come out with battery-swapping guidelines for electric buses/cars
The government is finalising battery swapping guidelines for electric buses and cars, in addition to two and three wheelers which are already functional in some of the cities. The Ministry of Heavy Industries (MHI) will take the proposal to the Prime Minister Office (PMO) in the next fortnight for approval.
IMF sees major manufacturing shift towards India & China, CFO News, ETCFO
The International Monetary Fund (IMF), in its latest World Economic Outlook report, has highlighted a significant global shift in manufacturing production towards emerging markets like India and China, as advanced economies lose competitiveness. This trend indicates that emerging economies like India are becoming key players in the global manufacturing landscape.
Gujarat HC orders release of SW South Wind I after pact with exporting firm
The Gujarat High Court on Friday ordered the release of merchant vessel SW South Wind I following a settlement between the vessel’s sub-charterer and MEIR Commodities India Limited. Justice Aniruddha P Mayee passed an oral order after the sub-charterer of the vessel agreed to pay MEIR Commodities claim of $250,984
Poultry industry set for recovery in current fiscal on softening input prices, demand: Report
The Indian poultry industry, which faced challenges in the past couple of years due to volatile market conditions is set for recovery in the current fiscal with prices of inputs such as maize and soyabean stabilising aided by demand growth, according to a report. The CareEdge Ratings anticipates an 8-10
ITR data shows income inequality has come down, says SBI research report
Decoding Income Tax Return (ITR) data, a research report by the SBI has said that has said that individual income inequality has decreased. “Our analysis shows that there has been a cumulative 74.2 per cent decline in income disparity coverage for those earning up to ₹5 lakhs,” the report prepared
India continues to be world’s largest growing economy: IMF director, ETCFO
The director of the IMF Asia Pacific department, Krishna Srinivasan, revealed that India will continue to be the world’s fastest-growing economy, as long as the country’s macroeconomic fundamentals remain strong. In an interview on Tuesday, he told PTI, “India is expected to remain the fastest-growing economy in the world. We