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NEW DELHI: A series of steps are being taken by the government to curb retail food inflation. The Union food ministry on Thursday directed all sugar mills and distilleries to stop using sugarcane juice for the production of ethanol for the 2023-24 season, to ensure an adequate supply of sweetener for domestic consumption and prevent […]

The post Government Takes A Slew Of Steps To Curb Food Inflation first appeared on Latest India news, analysis and reports on IPA Newspack.

MUMBAI: The Reserve Bank of India on Friday decided to keep the policy rate unchanged at 6.5 per cent for the fifth time in a row as it maintains a tight vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes, aggregating to 250 basis points since May 2022. […]

The post RBI Retains Repo Rate At 6.5 Per Cent For Fifth Time In A Row first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: The government has banned exports of onion till March next year with a view to increase domestic availability and to keep prices in check. “Export policy of onions… Is amended from free to prohibited till March 31, 2024,” the Directorate General of Foreign Trade (DGFT) said in a notification. Local vendors in the […]

The post India Bans Onion Exports Till March Next Year first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: The Centre on Wednesday sought approval of Parliament for gross additional spending of Rs 1.29 trillion including Rs 14,524 crore for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and Rs 13,351 crore for fertiliser subsidy. “Approval of Parliament is sought to authorise gross additional expenditure of Rs 1,29,348.85 crore. Of this, the […]

The post Govt Seeks Nod For Rs 14,524-Crore Extra Spending On MGNREGS first appeared on Latest India news, analysis and reports on IPA Newspack.

MUMBAI: The RBI’s high-powered rate setting panel on Wednesday began its 3-day brainstorming on the next set of bi-monthly monetary policy amid expectation of continued pause on the short-term key lending rate as GDP growth is gaining momentum, and inflation manageable. RBI left the benchmark policy rate (repo) unchanged in its past four bi-monthly monetary […]

The post RBI MPC Meet Begins Amid Expectations Of Status Quo On Interest Rate first appeared on Latest India news, analysis and reports on IPA Newspack.

MUMBAI: India is seen as a rising star among Asian peers, besides Indonesia and the Philippines, and is expected to be among the fastest growing economies in the region in 2024, Nomura said on Wednesday. India’s GDP, Numura believes, will expand at 5.7% in 2024. The projection reinforces the popular view of a pause in […]

The post India Will Be Among Fastest Growing Asian Economies In 2024: Nomura first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: The next spectrum auction will be held in late February 2024 and the reserve price for most bands will remain the same as the 2022 auction, department of telecommunications (DoT) officials have said. The government expects operators to go for low bands beginning in 600 megahertz (MHz), licences for many of which are […]

The post Next Spectrum Auction To Be Held In February, Reserve Price To Remain Same first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: The government will sell up to an 8 per cent stake in IRCON International through an offer-for-sale, which will open on Thursday, the rail public sector undertaking said in an exchange filing. The plan is to offload 37.6 million equity shares, of face value of Rs 2 each—representing 4 per cent of the […]

The post Govt To Sell 8% Stake In IRCON International Through Offer-For-Sale first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: India’s renewable energy capacity addition is expected to grow by more than 33 per cent Y-o-Y to 20 gigawatts (GW) in FY24 ending March 2024, aided by a reduction in prices of solar photovoltaic (PV) cells and modules, in abeyance of the ALMM order, among other factors. Ratings agency ICRA expects India’s installed […]

The post Renewable Energy Capacity Expected To Grow 33 Per Cent To 20GW In FY24 first appeared on Latest India news, analysis and reports on IPA Newspack.

MUMBAI: Benchmark stock indices Sensex and Nifty settled at new peaks on Tuesday, rallying for the sixth straight session amid massive buying in power and utility sector shares. The 30-share BSE Sensex jumped 431.02 points, or 0.63 per cent, to close at a new record high of 69,296.14. The broader index Nifty also climbed 168.50 […]

The post Stock Markets Hit New Record Highs first appeared on Latest India news, analysis and reports on IPA Newspack.

By Anjan Roy One of the most powerful global credit agencies, Moody’s, has downgraded China’s economic outlook to negative from stable. This has major implications for a country in the financial markets and as a reliable destination for global investors. Immediately, this change might not affect China’s investments or borrowings. But a downward revision of […]

The post Moody’s Downgrading China’s Economic Outlook Has Big Significance first appeared on Latest India news, analysis and reports on IPA Newspack.

India and the UK have begun crunch-time talks to secure a landmark free-trade deal, as leaders on both sides seek to resolve outstanding issues before they face election battles next year. A UK team — including Amanda Brooks, director general for trade negotiations, and Douglas McNeill, chief economic adviser to the prime minister — is […]

The post India, UK Seek To Wrap Up Trade Negotiations Before Busy Election Year first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: The government is learnt to have resolved to allow foreign direct investment (FDI) in inventory-based models of e-commerce, subject to the rider that these will be solely aimed at export markets. According to an official source, while the key ministries of finance and commerce & industry have come to a common position this […]

The post Export-Linked E-Tailing May Get FDI Support first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: India’s service activity moderated to a one-year low in November, owing to a slowdown in new work orders and overall output, a private survey published Tuesday said. However, the print showed continued expansion in the broader economy that surprised on the upside in the second quarter. The seasonally adjusted S&P Global India Services […]

The post November Services Activity At 1-Year Low As New Orders & Output Shrink first appeared on Latest India news, analysis and reports on IPA Newspack.

India’s consumption of Liquefied Natural Gas (LNG) is expected to rise further in the coming months on the back of growing demand from the fertiliser and power industries, analysts say. Anticipated lower spot LNG prices will further add to this growth. “Our current forecast for December, January, and February averages at 76 MMcm/d, with an […]

The post LNG Consumption, Imports Seen Rising As Prices Ease first appeared on Latest India news, analysis and reports on IPA Newspack.

MUMBAI: The RBI is expected to announce a continuation of its pause on interest rates after the bi-monthly review meeting of the monetary policy committee (MPC) scheduled for December 8. Analysts predict a fifth consecutive pause by the MPC because of stronger-than-expected economic growth numbers. RBI will likely maintain a cautious stance, accompanied by hawkish […]

The post RBI Likely To Stay With Interest Rate Pause first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: More than seven years after the launch of pan-India digital wholesale agri-marketing platform or electronic National Agriculture Market (e-NAM), purchase from farmgate trade has finally taken off across several states. Farmers are selling commodities on the platform without physically transporting it to the mandis. Using farm-gate module, farmers in 11 states including Andhra […]

The post Inter-Mandi eNAM Trade Up 188 Per Cent In April-November On Low Base first appeared on Latest India news, analysis and reports on IPA Newspack.