Economy - The Purbottar

20 Apr

India violated global trading rules in IT tariff dispute with EU, Japan, Taiwan, says WTO

Business Correspondent0 CommentsBusiness, Economy

WTO said in a statement on 17th of April 2023 that India had disobeyed the rules of global trade in a debate with the Taiwan, Japan and EU over taxes on import of IT products. “We recommend that India bring such measures into conformity with its obligations,” the WTO panel’s report said. In the year 2019, the European Union challenged India’s introduction of import duties of between 7.5% and 20% for a wide range of IT products, such as mobile phones and components, as well as integrated circuits. In the same year, similar cases were filed against India by Japan…

20 Apr

Kapil Sibal compares India with China on GDP, unemployment and inflation

Business Correspondent0 CommentsBusiness, Economy

India has surpassed China in terms of population. It ranks first in the list of the most populous country in the world. Kapil Sibal, member of the Rajya Sabha pointed out the the issue of unemployment, GDP, annual inflation in which India was not able to compete or get equal to it's neighbouring country China. He also asked people to analyse the data of these parameters of the recent year. Kapil Sibal is also a lawyer and he had represented several high-cases in the Supreme Court. It is seen that most of the time Sibal keeps on taking a dig…

10 Feb

PM Modi flags off 2 Vande Bharat trains from Mumbai

Business Correspondent0 CommentsEconomy, Technology

On friday two Vande Bharat trains were officially inaugurated by PM Modi, one will operate between Mumbai and Solapur and the other between Mumbai and Shirdi. The event was held in Mumbai, with, Maharashtra CM Eknath Shinde, Union Railways minister Ashwini Vaishnaw and deputy CM Devendra Fadnavis. “For the 1st time 2 Vande Bharat trains launched. They'll connect financial centres like Mumbai & Pune to centres of our devotion. It'll benefit college-going & office-going people, farmers & devotees”, the prime minister said.

31 Dec

Financial Stability Report, December 2022 released by RBI

editor0 CommentsEconomy

The 26th edition of the money Stability Report was discharged by the Reserve Bank of India on December 29. The reserve bank depository money concern banking of India publishes a financial stability report (FSR) each 2 years (RBI). The report reflects the Sub-Committee of the money Stability and Development Council’s (FSDC) collective analysis of the money system’s resilience and vulnerabilities to money stability.The findings of the strain tests, that square measure revealed during this issue of the FSR, show that, ought to they occur, even extraordinarily severe stress circumstances, banks would be able to survive them. Credit risk macro stress…

29 Dec

India-Australia Economic Cooperation and Trade Agreement Comes into Force

editor0 CommentsEconomy

India, Australia Economic Cooperation and Trade Agreement comes into force from 29th Dec. India and Australia signed the Economic Cooperation and Trade Agreement (ECTA) on the 2nd of Apr 2022. ECTA is that the initial trade agreement of Bharat with a developed country when quite a decade. The agreement encompasses cooperation across the complete gamut of bilateral economic and business relations between the 2 friendly countries.Under this trade agreement, Indian exports can get pleasure from advantageous zero-duty market access in Australia for a hundred per cent of its tariff lines. It'll profit India’s labor-intensive sectors like gems and jewelry, textiles,…

27 Dec

What is global recession 2023 and its impact on India?

editor0 CommentsEconomy

The report predicts that India’s economy will reach $10 trillion by 2035 and rank third globally by 2032. Since the US is one of the great superpowers, a mild or deeper recession will eventually have worldwide repercussions. The crisis ultimately grew and spread into a global economic shock, manifesting itself in a number of European bank failures, drops in several stock indices, and significant falls in the value of the Indian market. Given that Indian businesses had significant outsourcing agreements with US clients, a slowdown in the US economy was undoubtedly terrible news for India. Over the years, India’s exports…

24 Dec

IMF decreases FY23 India’s GDP growth forecast to 6.8%

editor0 CommentsEconomy

IMF decreases FY23 India’s GDP growth forecast: In lightweight of lower-than-anticipated output within the second quarter and additional sluggish external demand, the International money (IMF) reduced India’s growth prediction for FY23 from seven.4% forecasted in Gregorian calendar month to six.8%. India’s growth projection for FY23 has undergone 3 decreases, ranging from Sept. 11 in January of this year.According to the World Economic Outlook (WEO), that was printed in Washington, DC, India’s growth is foreseen to any decelerate in FY24, reaching 6.1%. Solely Asian country is projected by sto develop at a bigger rate than Asian nation in 2022, at a…

22 Dec

Social Progress Index (SPI) for States and Districts Being Released

editor0 CommentsEconomy

Social Progress Index (SPI) for States and Districts created by the Institute for fight and Social Progress Imperative was submitted to Economic consultive Council- Prime Minister and free. Supported the SPI scores, states and districts are hierarchal underneath six tiers of social progress.Tier 1: terribly High Social Progress; Tier 2: High Social Progress; Tier 3: higher Middle Social Progress; Tier 4: Lower Middle Social Progress; Tier 5: Low Social Progress; and Tier 6: terribly Low Social Progress.SPI could be a comprehensive tool which will function a holistic live of a country’s social progress at the national and sub-national levels. The…

19 Dec

48th Meeting of GST Council

editor0 CommentsEconomy

The 48th product and repair Tax (GST) Council meeting at the capital urban center on seventeen Dec has all over with none choices on the extremely anticipated GST legal proceeding Tribunals, charge per unit applicable on gutkha and pan masala.Threshold limit of for launching of GST offences raised to 2 Crores except just in case of pretend invoices. Five-hitter GST alkyl group Alcohol applicable to blending fuel Decriminalized sure offences of Obstruction of services by officers, failure to produce data etc. E-Com Portals will offer product of Unregistered Suppliers. No Claim Bonus offered by Insurance corporations doesn't attract GST. No…

07 Dec

World Economy Seems Headed For A Recession, Compounded With Inflation

editor0 CommentsEconomy

The global economy appears headed for a severe recession and parallels ar being drawn with the worldwide money crisis of 2008 and therefore the retardation caused in 2020 by the Covid-19 pandemic. tons of hope that any serious natural event are often averted rests on a high degree of fine standardisation of policy which can be tough to deliver.The U.S.A. greenback has been billowing for the past few months. It’s currently the strongest it's been in twenty years, and specialists believe the worth can grow even stronger within the returning days. However this surge within the price of the facility…