Economy & Policy

China’s factory output rebounded in May, adding to a recovery from the latest COVID-induced economic slump after controls that shut down Shanghai and other industrial centers eased. Industrial production rose 0.7% over a year earlier,…

Even after central banks recognized they got their inflation calls wrong last year, they’ve continued to flub their policy guidance, threatening greater damage to their credibility, roiling markets and undermining the pandemic recovery.…

Wheat procurement by the government is 57.5% less than the original target this season due to higher private trade as well as a dip in harvest. Food Corporation of India (FCI) has procured 18.7 million tonnes of wheat as on Tuesday, a…

An Authority for Advance Ruling (AAR) ruling has said that any voluntary payment made to a housing society by a member or a resident should attract Goods and Services Tax (GST). The ruling in the matter of Monalisa Co-Operative Housing…

Wholesale price inflation spiked to 15.88% in May, the highest since September 1991 as a surge in price pressure in food and fuel overwhelmed a moderation in the dominant manufactured product segment. In April, the WPI inlfation was…

Commerce and industry minister Piyush Goyal on Tuesday rejected a text for negotiations at the World Trade Organization (WTO) on curbing harmful fishery subsidies, stressing that it seeks to “institutionalise” the disparities between the…

Prospects for a grand redemption of the World Trade Organization dimmed as India stuck to its demands on several fronts during the third day of the trade body’s ministerial conference in Geneva. Commerce Minister Piyush Goyal told a…

Officials of the Reserve Bank of India (RBI) and the Bank of Russia are set to meet this week to give the finishing touches to a bilateral payment system to ensure smooth trade flows between the two nations without violating global…

India would emerge as a $5-trillion economy by FY27 and a $10-trillion one by FY34, chief economic adviser (CEA) V Anantha Nageswaran said on Tuesday. “We are now at $3.3 trillion, it is not such a difficult target to reach. Then if…

The government has decided to restrict flour exports, as an irrational spike in outbound shipments of the wheat by-product over the past few days has threatened to undermine its ban on wheat dispatches. Only seasoned players who have…