Union Budget 2023: Items Which Got Affordable & Dearer This Year
With the Union Budget 2023-2024 announced in the parliament, here is the list of items which cost costlier and cheaper in 2023. List of items which became costlier: Gold and platinum jewellery, Copper scrap, Silver articles, … read-more
Tags: Economy, Union budget, Essential Commodities, Nirmala Sitharaman, Indian government
Courtesy: Zee News India
India Will Surpass UK & Become 3rd Largest Economy By End Of Decade: UK High Commissioner
British High Commissioner to India Alex Ellis said that India will surpass United Kingdom to become the third largest economy in the world by the end of this decade. He then stated that both the nations must work together. He then said that the UK leaving European Union opens a lot of opportunities for the UK to work with India. He said, a Free Trade Agreement will be completed by Diwali.
Tags: Free Trade Agreement, Economy, India, Alex Ellis, UK
Nirmala Sitharaman Meets US Secretary of Commerce
Finance Minister Nirmala Sitharaman discussed economic cooperation in terms of bilateral and international ties with the US Secretary of Commerce, Gina Raimondo, during their meeting. Sitharaman, who has been on an official visit to the US, also attended the G20 Finance Ministers and Central Bank Governors meeting, which mostly revolved around global health and economic risks. She would leave for San Francisco 24th April, to meet up with… read-more
Tags: World news, Economy, Global Economy, Nirmala Sitharaman
Centre Tweaks FEMA To Permit 20% FDI In LIC
The Central Government has tweaked the Foreign Exchange Management Act (FEMA) rules to allow as much as 20% foreign direct investment (FDI) in the LIC. The government is mulling over plans to dilute its stake in the insurance company via the Initial Public Offering (IPO). Earlier in February this year, the LIC had filed the Draft Red Herring Prospectus (DRHP) before the Sebi for the Initial Public Offering.
Tags: Economy, LIC, IPO, SEBI, business
Courtesy: Zee News
Sri Lanka's Tourism Sector In Deep Waters Amid Russia-Ukraine Conflict
With the ongoing Russia-Ukraine crisis, Sri Lanka is facing a downfall in its tourism sector. Reportedly, 25% of the foreign tourists in Sri Lanka are from Russia and Ukraine. After flights were cancelled, the tourists are stranded in the island country, without being able to return to their nations. Also, most of the tourists have run out of money. The Sri Lankan government has extended their visas by two months.
Tags: Ukraine Russia Crisis, Sri Lanka, Russia, Economy, Travel
Courtesy: News 18
UK Inflation Rate Soars To Highest In Last 30 Years
According to official data, the UK inflation jumped to 5.4% in December, becoming the highest in 30 years. It has put more pressure on the Bank of England to raise interest rates next month. The higher energy costs, resurgent demand, and supply chain issues continued to drive up consumer prices. The surge in CPI is likely to impact food and drink, restaurants, furniture following household goods.
Tags: World, UK, Inflation, Economy, Bank of England
Courtesy: The Economic Times
India-UK Trade: Aims To Boost Economy & Employment Between 2 Countries
India and UK launched negotiations on Free Trade Agreement at an event in New Delhi. Indian Minister Piyush Goyal and UK Trade Secretary Annie Marie Trevelyan initiated talks that could benefit the economy of both countries. ''We'll expand trade between the countries to increase employment for both'', quoted Mr Goyal. The agreement will boost the total trade of Rs 2 trillion a year by 2035.
Tags: India Uk trade, Economy, Piyush Goyal, Annie-Marie Trevelyan, New Delhi
Courtesy: ANI News
New Zealand's Unemployment Rate Drops To 3.4%
According to Deputy PM Grant Robertson, New Zealand recorded its lowest unemployment rate, matching its December 2007 record. The unemployment rate decreased to 3.4% in September from 4% in June. Furthermore, there was an increase in employment by 54,000 in the same quarter, out of which, 39,000 were women. Minister for… read-more
Tags: New Zealand, Unemployment rate, WOMEN EMPLOYEES, Covid-19, Economy
RBI Maintains Status Quo On Repo Rate At 4%
For the seventh consecutive time, the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has kept the benchmark interest rate unchanged at 4%. Reportedly, the "accommodative stance is maintained as the economy is still recovering from the COVID-19 second wave". This move supports growth and keeps inflation in check. Accordingly, the reverse repo rate will remain at 3.35% and annual inflation at 4%.
Tags: RBI, SHAKTIKANTA DAS, monetary policy committee, interest rate, Economy
Courtesy: Press Trust Of India
Centre To Keep Check On COVID Data, Strengthen Economic Policies
Principal Economic Advisor, Sanjeev Sanyal announced the vigilance by the Government over six weeks data of COVID-19 to tackle the economic crisis in the country. Alleging the Government for the covid mismanagement, Sanyal stated, "We need to take some steps against the third wave as a policymaker, and we will carry monetary and fiscal interventions if required." Spotlighting "blunt" nationwide lockdown, the economist emphasised the cons of… read-more
Tags: Covid-19, Lockdown, Central Government, Economy
Courtesy: The Free Press Journal