News on Indian Economy
Retail inflation fell to a four-month low of 5.3% in August, down from 5.59% the previous month, thanks to lower food costs and a large base impact. According to statistics provided by the Ministry of Statistics and Programme Implementation, inflation based on the Consumer Price Index (CPI) stayed within the Reserve Bank of India’s (RBI) tolerance zone for the second month in a row.
According to a Deloitte survey, India remains an attractive destination for foreign direct investments (FDI) due to its robust economic development prospects and trained workforce.
India and UK are aiming to launching the negotiations on FTA by November 2021.Two sides look for Interim Agreement as priority and later a Comprehensive Agreement. The matter came up during the discussions held between Mr. Piyush Goyal and his British counterpart Secretary of State, Ms. Elizabeth Truss on FTA and other trade matters.
According to Knight Frank, India ranks 54th out of 55 nations in the global housing prices index, with rates of residential properties falling modestly by 0.5% year-on-year during the quarter ending June.
The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) have announced the project to link the fast payment systems. The linkage is targeted for operationalisation by July 2022, the RBI said in a statement.
India will get this month the third set of Swiss bank account details of its nationals under an automatic exchange of information pact with Switzerland and this will include for the first time the data about real estate properties owned by Indians there, officials said on Sunday.
The central government has increased the financial support from Rs nine crore to Rs 70 crore to ensure more Ayush colleges are opened across the country, Union Minister for Ayush and Ports, Shipping & Waterways, Sarbananda Sonowal, said on Saturday. The Minister was addressing a conference on ‘Diverse and Fulfilling Career Paths in Ayush Systems: Education, Entrepreneurship & Employment Focus on North eastern States’ in Guwahati.
According to India Exim Bank, India’s merchandise exports during the second quarter of FY22 is expected to be $98.45 billion and non-oil exports to be $85.63 billion as against $74.02 billion and $66.73 billion respectively logged during the previous year corresponding period.
India’s foreign exchange reserve grew $8.895 billion to reach new record high of $642.453 billion in the week ended September 3, 2021, showed data shared by Reserve Bank of India (RBI).
Shri Ashwini Vaishnaw, Hon’ble Union Minister of Railways, Communication, Electronics & Information Technology, and Shri Dharmendra Pradhan, Hon’ble Union Minister of Education, Skill Development & Entrepreneurship, flagged off the new modern LHB Rake of Train No. 08445/08446 Bhubaneswar-Jagadalpur-Bhubaneswar, Hirakhand Express, today evening, through video conferencing from Rail Bhawan, New Delhi.
