New Delhi: The unemployment rate for persons aged 15 years and above in urban areas declined to 6.6 per cent during April-June 2023 from 7.6 per cent a year ago, the National Sample Survey Office (NSSO) data showed. Joblessness or unemployment rate is defined as the percentage of unemployed persons in the labour force. Joblessness…
New Delhi: The GST Council on Saturday decided to reduce GST on molasses to 5 per cent, from 28 per cent, and exempt alcohol for human consumption from the levy. Chhattisgarh Deputy Chief Minister T S Singh Deo, who is a member of the GST Council, said extra neutral alcohol (ENA) for industrial use will…
Mumbai: Superstar Akshay Kumar says he seeks encouragement from his audiences to make movies that bring about a societal change, irrespective of how they perform at the box office. The 56-year-old actor, whose latest film “Mission Raniganj” opened in theatres on Friday, said the Hindi cinema is going through a “nice phase” where both commercial and…
Mumbai: India is poised to become the new growth engine of the world, Reserve Bank of India Governor Shaktikanta Das said on Friday as the central bank retained the country’s GDP growth forecast at 6.5 per cent for 2023-24, notwithstanding the slowing global economy. Invoking Kautilya’s Arthashastra, Das said macroeconomic stability and inclusive growth are the…
Mumbai: Reserve Bank Governor Shaktikanta Das on Friday said 87 per cent of the Rs 2,000 denomination notes being withdrawn have returned as deposits into banks while the rest has been exchanged across counters. Addressing a press conference after the announcement of the bi-monthly monetary policy review, Das said Rs 12,000 crore of the Rs 3.56…
Mumbai: The Reserve Bank of India expectedly left its key interest rate unchanged on Friday as inflation remains a major risk, and signalled it would keep liquidity tight using bond sales to bring prices closer to target. The monetary policy committee, which has three members from the central bank and a similar number of external members,…
Mumbai: The Reserve Bank on Friday retained the inflation forecast for 2023-24 at 5.4 percent, and vowed to take timely measures to prevent any spillovers of global food and fuel price shocks. Stressing that the Reserve Bank has identified high inflation as a major risk to macroeconomic stability and sustainable growth, Governor Shaktikanta Das said…
Mumbai: The Reserve Bank on Friday said India is poised to become the growth engine of the world as it retained the GDP projection for the current fiscal at 6.5 percent. Unveiling the bi-monthly monetary policy review, Reserve Bank of India (RBI) Governor Shaktikanta Das said the domestic economy exhibits resilience on the back of…
New Delhi: Reserve Bank Governor Shaktikanta Das on Friday said it has been decided to include PM Vishwakarma under the Payments Infrastructure Development Fund (PIDF) Scheme as well as extend the tenure of the scheme by another two years. It is now proposed to extend the PIDF Scheme by a further period of two years,…
New Delhi: Finance Minister Nirmala Sitharaman on Thursday said policy consistency, political stability and decisive leadership are essential for the growth and making India the third largest global economy in the years to come. Speaking at the annual day celebrations of the Shri Ram College of Commerce (SRCC), the minister said that ‘flip-flop’ policies affect economic…
