Economy Financial News

governments in their national economies is rising, both through policy and expenditure. In India, of the total gov expenditure of 30% of GDP, two-thirds is carried out by state governments, including some spending financed by the Centre. To hobble state finances, in this context, is to express a strong death wish. Indeed, FPIs in government debt can invest in state government debt. But they do not. They have utilised hardly 2.6% of the permissible limit for state government securities. Why, then, is the Centre chary of letting state governments aggressively market a part of the debt they are eligible to raise abroad, particularly to migrants from their states? India is the world's biggest recipient of migrant remittances — $125 billion in 2023. Mexico, the second-highest, got about half as much. NRI deposits have been the mainstay of emergency foreign borrowings for India, time and again. Remember Resurgent India Bonds (RIBs) to tide over India's post-nuclear test isolation of 1998? India Millennium Deposits (IMDs) of 2000? And the foreign currency non-resident special deposits to tide over the taper tantrum of 2013?

By David Lawder

NEW DELHI : India’s space regulatory body has opened its first technical centre that it said would aid startups and larger private companies design and plan space missions. The Indian National Space Promotion and Authorization Centre’s (In-Space) facility in Ahmedabad will offer shared infrastructure including for climate simulation, thermal and vacuum environment simulation, and space systems assembly and testing environment.

₹2 trillion in income tax (to the union government). Delhi is one of the engines of growth for the national economy. We are not saying give us everything that Delhi gives, but give us something.

A shift away from Chinese equities by global long-term investors has taken a pause, with some funds getting less bearish, according to Morgan Stanley.

China's blueprint for its economy in 2024 is replete with goals and promises, but it's also notable for not spelling out specific moves to attain long-promised reforms that foreign businesses and investors have been hoping for

Lonski Group founder and president John Lonski joins 'Maria Bartirom's Wall Street' to discuss BlackRock's chief investment strategist warning of inflation rebound.

(Reuters) — U.S. stock index futures dipped on Tuesday as investors awaited a slew of economic data and several key events this week, including appearances from Federal Reserve Chair Jerome Powell.

Shares are mostly lower in Europe and Asia following a decline on Wall Street

China is increasing its defense budget by 7.2% this year, similar to last year's rise

The Biden administration is moving to cap credit card late fees at $8

Investing.com-- The Chinese government will likely need to unlock more stimulus to meet its 5% GDP target for 2024, analysts at ANZ said in a note on Tuesday.

Karnataka aims to become a $1 trillion economy by 2032 by growing at a sustained rate of 18%, Industries minister MB Patil said on Monday. The state, he said, would soon bring out a new clean mobility policy that would make the state a premier destination for EV manufacturing. Patil, who was speaking at the inauguration of the 54th World Trade Centre Association (WTCA) Global Business forum, said that the state’s Industrial Policy for the period 2020-25 provided multiple financial incentives to create favourable economics for investors. “Karnataka is also partnering with technology companies to leverage industry 4.0 technologies and the state will drive automation and develop AI-powered subscription products or services,” he added. This was the first edition of the summit in Karnataka and the second held in India. The event, jointly organised by the New York World Trade Centers Association and Bengaluru World Trade Centers Association, was inaugurated by Deputy Chief Minister DK Shivakumar.

Uday Kotak on Tuesday said that too much regulatory guardrails could impede economic growth and halt India's journey towards a developed nation. Regulators should not be too conservative and cautious but must respond fast to «accidents» in the respective sectors, he said while addressing a two-day event organised by National Financial Reporting Authority (NFRA). «I feel very very optimistic for India's future but I am also very conscious that...unbridled focus on the opportunity without having the guardrails also runs the risk, and also too much guardrails will not get us there (developed nation),» he said. Observing that the aspiration of the fast growth of 7.5-8 per cent GDP over the next 20-25 years needs significant capacity building, he said, «it also requires a sense of dreaming. It requires a sense of creativity, entrepreneurship, and professionals (need to be) ready to take risks without fear.»

The investor was an internal client, who reallocated their assets to other abrdn funds. It was then decided that it would be in the «best interests» of other investors to close the fund. Profits drop 62% across abrdn investment arm as performance slides further A spokesperson for the company said: «Small funds face a number of operating difficulties as they are unable to benefit from economies of scale. This can lead to problems in buying and selling assets at a reasonable price, which in turn may lead to compromised investment performance and proportionally higher costs, to the detri...

China’s Premier Li Qiang promoted an image of confidence as he announced modest economic growth goals for the country at one of its most important political gatherings

₹7,200 crore in Telangana's Sangareddy, about 60 km from here. Addressing the event here, PM Modi reiterated his commitment to Telangana's progress and said he works with the spirit that states' development is the country's growth. “The Centre had allocated ₹11 lakh crore towards infrastructure in this year's budget and the Centre wanted Telangana to get the maximum benefit from it," the Prime Minister said.

Shares are mixed in Asia after China's premier said the country's target for economic growth this year is around 5%, in line with expectations

China's efforts to restore confidence and rev up the economy will top the agenda during this month’s meeting of the ceremonial national legislature

China’s economic growth target for this year is around 5%, in line with last year’s performance despite forecasts for a slowdown

The Chinese government says it is eliminating an annual news conference by the premier that was one of the only times a top Chinese leader took questions from the news media