The government has made special arrangements to provide forex facilities and mandatory insurance to Haj pilgrims this year. The forex services will be provided by the State Bank of India…
Category: Economy
Higher tax collections bode well for FY23 fiscal deficit
The central government is on course to come close to the fiscal deficit target of 6.4 per cent for the recently concluded fiscal year, finance ministry sources have told Business…
Manufacturing PMI hits 3-month high; increases to 56.4 in March from February’s 55.3
India’s manufacturing PMI increased from 55.3 in February to 56.4 in March, the strongest growth in three months, according to S&P Global India Manufacturing Purchasing Managers’ Index. The report said…
RBI MPC meeting: RBI likely to hike benchmark interest rate by 25 bps on April 6
The Reserve Bank of India (RBI) is expected to hike the benchmark interest rate by 25 basis points in the bi-monthly monetary policy to be announced on April 6 (Thursday),…
Govt extends export restrictions on petrol, diesel to ensure availability
In order to secure the availability of refined fuels for the domestic market, the government has increased restrictions on the export of diesel and petrol. This comes after the government’s…
GST collection in March grows 13% to Rs 1.60 lakh crore, second highest ever
The Goods and Services Tax (GST) collection in India grew 13 per cent to over Rs 1.60 lakh crore in the month of March, a statement issued by the Finance…
India, Malaysia can now trade in Indian rupee
India and Malaysia can now use the Indian rupee to settle trade in addition to other currencies, the Ministry of External Affairs (MEA) said on Saturday. The move follows the…
Fiscal deficit touches 82.8% of full-year target in February: Govt data
The central government’s fiscal deficit touched 82.8 per cent of the full-year target at the end of February, according to data released by the Controller General of Accounts (CGA) on…
Output of eight key infra sectors record almost flat growth at 6% in February
Production of eight infrastructure sectors recorded an almost flat growth rate of 6 per cent in February as against 5.9 per cent in the same month last year, according to…
India’s current account deficit narrows to 2.2% of GDP in Q3 from 3.7% in Q2
India’s current account deficit, a key indicator of the balance of payment position, fell down to $18.2 billion or 2.2 per cent of the GDP in the December quarter of…