Global experts call on EMs to rethink long-term financing

Emerging markets would require over $53 trillion for infrastructure financing, but countries need to develop a new long-term financing model, said Auguste Tano Kouame, country director, World Bank. Kouame said that the Indian government had done well, and reforms such as the National Infrastructure Pipeline and Production-Linked Incentive schemes are steps in the right direction. … Read more

Cess, surcharge collections rose 133% between FY’18 and FY’23

There has been a rise of 133 per cent in collection of major cess and surcharges levied by the Central government on various products during the five year period between 2017-18 and 2022-23, as it went up from Rs 2,18,553 crore in 2017-18 to Rs 5,10,549 crore in 2022-23 according to Finance Ministry data. Cess … Read more

Goods and services exports may cross $750 bn-mark this fiscal: Piyush Goyal

India’s goods and services exports are expected to cross USD 750 billion this fiscal despite the global economic uncertainties, Commerce and Industry Minister Piyush Goyal said on Saturday. In 2021-22, the country’s goods and services exports touched an all-time high of USD 422 billion and USD 254 billion respectively, taking the total shipments to USD … Read more

Finance ministry raises capex scrutiny to push growth, focus on states’ spending

The finance ministry has stepped up the scrutiny of capital expenditure by various departments like never before to ensure they utilise the funds on time and help stimulate growth, officials said. Spending by states, which will get 13% of the Centre’s FY24 budgetary capex outlay in the form of long-term, interest-free loans for asset creation, … Read more

rbi: Any US tightening hurts India output no matter what policymakers do here: RBI paper

Irrespective of what the Indian policy makers do to lift the economic activity, any monetary tightening action by the US leads to a contraction of output in India, a Reserve Bank of India paper said. Citing historical data, the researchers from the Indian central bank said the impact of the US tightening may be felt … Read more

CEPA: India’s non-oil exports to UAE rise 5% during June-January

India’s non-petroleum exports to the United Arab Emirates (UAE) grew 5 per cent at $15.2 billion during the June-January period, compared to a 3.4 per cent contraction of such exports to the rest of the world. The data was compiled by the department of commerce to study the impact of the Comprehensive Economic Partnership Agreement … Read more