New Delhi, May 16 (IANS) The Ministry of Statistics & Programme Implementation (MoSPI) is developing a framework to measure the contribution of knowledge and knowledge products to the Indian economy, an official statement said on Saturday.The framework is needed due to rapid technological change and complex skill demands that make such an assessment essential, the statement from the MoSPI said.The exercise addresses the growing centrality of knowledge in economic activity and will help formu…
Latest Indian economy News & Updates
Satara, May 15 (IANS) Union Minister of Agriculture and Rural Development Shivraj Singh Chouhan on Friday announced the release of the Centre’s share of Rs 8,368.50 crore for Maharashtra under the Pradhan Mantri Awas Yojana-Gramin for the financial year 2026-27 at a function where he inaugurated the Griha Pravesh ceremony of 5 lakh completed rural houses in the state. In his address, the Union Minister said, “Maharashtra has done remarkable work in the implementation of the Pradhan Mantri Aw…
New Delhi, May 15 (IANS) The marginal Rs 3 per litre hike in petrol and diesel prices announced by the government is a mere drop in the bucket compared to the huge losses that the public sector oil companies are absorbing due to soaring global prices of crude oil, which have crossed $100 a barrel, a senior official said on Friday.The small increase reflects the Centre’s broader strategy of protecting consumers from the full impact of the global oil shock, the official said.Sources said petrol un…
New Delhi, May 13 (IANS) Prime Minister Narendra Modi has been referred to as the world’s most popular politician and the Prime Ministers of Nordic countries have a lot to learn from him, according to an article in Norway’s leading financial newspaper Dagens Næringsliv (DN). On May 18, Prime Minister Modi will visit Norway.India’s Prime Minister Modi will be received by King Harald, promote Indian business, meet with the Indian diaspora and attend an India-Nordic Prime Ministers’ meeting.”The N…
New Delhi, May 6 (IANS) The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 will help preserve industrial continuity, jobs and strengthen liquidity access for businesses, particularly micro, small and medium enterprises (MSMEs), industry chambers said on Wednesday.Rajeev Juneja, President, PHDCCI, welcomed the scheme as a timely initiative to address pressures from the ongoing West Asia crisis.”ECLGS is designed to address temporary liquidity shortages faced by industries during periods of ec…
New Delhi, April 27 (IANS) The government on Monday proposed to use aggregated GST data to monitor services sector and boost ability to assess overall economic performance.Unlike the Index of Industrial Production (IIP), there is currently no Index of Service Production (ISP) to capture short‑term movements in the services sector.Ministry of Statistics & Programme Implementation does not require or seek access to individual unit‑level returns for this data compilation.A Technical Advisor…
Pune, April 24 (IANS) Finance Minister Nirmala Sitharaman on Friday confirmed that the government plans to continue with the disinvestment process of IDBI Bank.The comments dispelled the uncertainty hanging over the privatisation of IDBI Bank, as the offers received in the earlier bidding round were below the reserve price fixed by the government. Consequently, the proposed transaction had to be called off last month.Under the original plan, the government was to sell a 30.48 per cent stake in I…
New Delhi, April 21 (IANS) The Reserve Bank of India (RBI) is closely monitoring the fallout from the West Asia conflict and will not make firm commitments on the future path of interest rates, Governor Sanjay Malhotra has said, adding that prolonged supply disruptions risk embedding inflation into India’s broader price level.In his speech at Princeton University in the US, Malhotra said the ongoing conflict poses a direct threat to the Indian economy given the region’s outsized role in the coun…
New Delhi, March 24 (IANS) The Centre has constituted seven empowered groups of officials and experts to handle the fallout of the Iran war on specific sectors of the Indian economy, including oil, gas, fertilisers, supply chains, and inflation. The empowered groups, comprising senior officials from the Prime Minister’s Office and the Cabinet Secretariat, were based on directions from Prime Minister Narendra Modi after the meeting of the Cabinet Committee on Security (CCS) to review the evolvi…
New Delhi/Bengaluru, March 23 (IANS) Amid the escalating conflict in West Asia, the Central government has stepped up monitoring of its potential impact on India, with Prime Minister Narendra Modi chairing an emergency meeting of the Union Cabinet Committee on Sunday night, stated Union Minister for Food, Public Distribution and Consumer Affairs Pralhad Joshi on Monday.Union Minister Joshi has released a press statement in this regard.”The Prime Minister held detailed discussions with senior min…