The real effective exchange rate (REER) of the Indian rupee fell to 107.20 in December from a high of 108.14 in November. According to the latest data of Reserve Bank of India, REER in January 2024 was 103.66. In the year 2024, the rupee had declined by 2.8 percent against the dollar, whereas so far … Read more
India’s share in global consumption on purchasing power parity (PPP) basis is projected to be 16 percent by 2050, up four percent from 1997 and nine percent by 2023. McKinsey Global Institute’s analysis World Data Lab, in its report ‘Dependency and Population Decline: Implications of the Consequences of the New Demographic Reality’ released recently, said … Read more
India has made the manufacturing sector more complex for small and medium enterprises by creating many stringent rules, such as those related to land use, India’s Chief Economic Adviser V Ananth Nageswaran said on Monday. Speaking at an event at India Exim Bank, Nageswaran said that this issue will be included in the economic review … Read more
Public Procurement: In view of the large number of pending applications related to public procurement, the government is now preparing to dispose of it expeditiously. In this sequence, the Standing Committee to review the implementation of the Public Procurement Order under the chairmanship of the Secretary, Department for Promotion of Industry and Internal Trade (DPIIT) … Read more
The government has approved investment proposals worth Rs 3,516 crore from 24 companies in the third round of the production linked incentive (PLI) scheme for air conditioners (ACs) and LEDs. Department for Promotion of Industry and Internal Trade (DPIIT) gave this information today. The government has also selected 18 companies promising to invest Rs 2,299 … Read more
India needs to adapt to the emerging global scenario and harness its domestic strengths for sustained growth. Deloitte India has projected India’s gross domestic product (GDP) growth rate to be 6.5 to 6.8 percent in the current financial year 2024-25. Deloitte India said in its economic scenario report on Tuesday that the country needs to … Read more
MRPL seeks up to 2 million barrels of sweet and sour grade oil, BPCL plans to buy 12 million barrels of Murban oil Oil refiners Mangalore Refinery and Petrochemicals Limited (MRPL) and Bharat Petrochemicals Limited (BPCL) in India have issued tenders this week in view of the US imposing strict sanctions on crude oil supplies … Read more