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The Ujjwala scheme was launched in 2016 to encourage poor households, particularly those in rural areas, to shift to LPG from conventional fuels.
Updated : Aug 29, 2023

Cabinet likely to grant additional subsidy of Rs 200 under Ujjwala scheme: Sources

Earlier this year in March, the Committee on Economic Affairs (CCEA) approved a subsidy of Rs 200 per 14.2 kg cylinder for up to 12 refills per year to be provided to beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY).

BRICS+6 nations need greater connectivity, said SBI report
Updated : Aug 29, 2023

‘Need for India, China to increase cooperation on…’: SBI report on the way forward for BRICS+6 

BRICS+6 nations: Strong partnership on innovation and digital economy can spur growth, promote transparency and support sustainable development goals, SBI added in a report.

India’s population reached 1.4 billion people in April 2023 to peak in 2063
Updated : Aug 28, 2023

Moody’s: Population growth not enough to reap economic gains

Agency says strong education and quality infrastructure play equally important role in economic growth

Sharing the pictures on X (formerly known as Twitter), he wrote, “From 5 Hours to 2: Ranchi-Jamshedpur Expressway Unlocks a Scenic Shortcut, Redefining Travel with Stunning Views and Swift Journeys!”
Updated : Aug 28, 2023

Union Minister Nitin Gadkari shares stunning images of Ranchi-Jamshedpur Expressway

Previously, on March 23, 2023, Gadkari inaugurated and laid the foundation stones of 10 National Highway projects of 220 km at Bishtupur, Jamshedpur in Jharkhand, at a cost of Rs.3843 crore.

Existing contracts below USD 1,200 per tonne have been kept in abeyance
Updated : Aug 27, 2023

Govt decides not to allow basmati rice exports below $1,200 per tonne

In a statement on Sunday, the commerce ministry said it has directed trade promotion body APEDA not to register contracts below USD 1,200 per tonne.

India holds an important role in setting up an efficient and trusted global supply chain
Updated : Aug 27, 2023

PM says businesses need to think beyond the bottom line

“The future of global growth is dependent on the future of business,”  he says at the B20 India Summit 2023

PM Modi said India has performed better than predicted in the last few years
Updated : Aug 26, 2023

EXCLUSIVE: PM Narendra Modi speaks about India’s growth potential; says economy will ‘deliver unprecedented opportunities’

PM Modi, in an exclusive interview with Business Today, spoke to editors Rahul Kanwal, Sourav Majumdar and Siddharth Zarabi, at his office in 7, Lok Kalyan Marg.

The prime minister added that the efforts that the government has made since 2014 should have been made 40-45 years ago.
Updated : Aug 26, 2023

BT EXCLUSIVE: Apple, Micron show India's attractiveness as manufacturing destination, says PM Modi

“I want my fellow citizens to have access to facilities as good as those of developed countries. The world is today recognising India’s strength. They are coming here because it is good for their company, their product and their profits,” said PM Modi.

Gold reserves were down by USD 515 million to USD 43.824 billion, the RBI said.
Updated : Aug 25, 2023

India's forex reserves post steepest weekly decline in over 6 months at $595 bn

The country's forex kitty had reached an all-time high of USD 645 billion in October 2021. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.

In that context, recent data has raised a new concern, he said.
Updated : Aug 25, 2023

Fed's Powell: Not yet clear rates are high enough to control inflation

Powell said Fed policymakers would "proceed carefully as we decide whether to tighten further," but also made clear that the central bank has not yet concluded that its benchmark interest rate is high enough to be sure that inflation returns to the 2% target.

FM Nirmala Sitharaman said that everyone needs to bank on the country's young population, which is skilled and English-speaking
Updated : Aug 25, 2023

B20 Summit: 'Look at India for its strengths and not as China’s alternative,' says FM Sitharaman

FM said that she believes in the India story because of its strengths and urged everyone to not just see the country as China’s alternative and that it has a lot more to offer

"Persistently high inflation will weaken demand," she said at the B20 Summit India 2023. (Photo: Hardik Chhabra)
Updated : Aug 25, 2023

'Elevated interest rates to come in the way of growth,' cautions FM Sitharaman at B20 Summit

She contended that using only interest rates to control inflation may have a downside and supply side issues also need to be managed. 

Decoupling may result in the world losing 8-10 per cent in economic growth (Photo: Hardik Chhabra)
Updated : Aug 25, 2023

Friendshoring a worrisome trend; Indian economy to get bigger over time: WEF President

While expressing his concerns on the move towards friendshoring, the head of the global autonomous body for public-private cooperation said he remains optimistic about India’s growth potential

Pic: B20's X account (Amitabh Kant)
Updated : Aug 25, 2023

G20 is an economic body, issues of war have implications on economics, says Amitabh Kant at B20 Summit

Kant noted that the “war is not our creation” and underlined that the challenge is to put developmental issues right at the forefront.

Pics: B20 Twitter (Sunil Bharti Mittal)
Updated : Aug 25, 2023

The world must tap into Africa’s agriculture potential for region’s economic development: Sunil Bharti Mittal

In this regard, the council headed by Mittal has urged a complete transformation of Africa’s agriculture and food systems to sustainably improve productivity, food security and nutrition levels.

Pic: Hardik Chhabra
Updated : Aug 25, 2023

B20 Summit: Uday Kotak urges companies to earmark 0.2% of profits to meet social development goals

This is a key recommendation of the B20 India Task Force on Financing for Global Economic Recovery that Kotak chairs. The recommendations of the B20 taskforces would be submitted to the G20.

N Chandrasekaran makes a compelling case for an India-based international biz institute at key global meet
Updated : Aug 25, 2023

N Chandrasekaran makes a compelling case for an India-based international biz institute at key global meet

The proposed finance organisation would be part of the architecture created to support G20 institutions and would comprise highly experienced evangelists and thought leaders.

All six members including M D Patra, Shashanka Bhide, Ashima Goyal, Jayanth R Varma and Rajiv Ranjan voted for status quo on the policy rate
Updated : Aug 24, 2023

Likely impact of food price shock on overall inflation prompted RBI to keep benchmark rates unchanged: MPC minutes

The Reserve Bank at its last bi-monthly monetary policy committee (MPC) meeting on August 10 decided to keep the benchmark interest rate (repo rate) unchanged at 6.5 per cent citing inflationary concerns.

Says India’s rate of growth faster than top four economies –US, China, Japan and Germany
Updated : Aug 24, 2023

India is the biggest development opportunity of the future: Finance Secretary

Says India’s rate of growth faster than top four economies –US, China, Japan and Germany

Minister says Australia looking to conclude CECA with India this year
Updated : Aug 23, 2023

Australia to discuss progress of FTA with India during its Assistant Trade Minister’s current visit to India

Minister says Australia looking to conclude CECA with India this year

But analysts see growth slowing down in the subsequent quarters of this fiscal
Updated : Aug 23, 2023

Q1 GDP growth seen at a four-quarter high of close to 8%

But analysts see growth slowing down in the subsequent quarters of this fiscal