Economy News ( English version)

India and China are reshaping the global economy, shifting focus from G7 nations to the BRICS alliance. The BRICS+ group's share in global exports has more than doubled since 2000, challenging G7 dominance. High-tech exports from BRICS+ nations are also on the rise. This shift indicates a potential overtaking of the G7's share in global trade by BR […]

The central government's fiscal deficit for the first half of 2024-25 stands at 29.4% of the annual target, aided by restrained spending and lower fiscal deficits earlier. Despite revenue uncertainties, experts predict the fiscal deficit will likely align with the 4.9% GDP target, though capital spending goals remain challenging.

The central board of trustees of EPFO will meet on November 23 to approve the central pension payment system and Annual Report 2023-24. The approval follows Labour Minister Mandaviya’s recent endorsement of CPPS, ensuring seamless nationwide pension disbursement for 7.8 million subscribers, without needing pension payment order transfers.

India's core sector output grew by 2% in September, up from the 1.6% recorded in August. Five of the eight sectors, including cement and refinery products, saw growth. Cement had the highest year-on-year growth at 7.1%. The overall growth in these sectors during the first half of the financial year was lower than the same period last year.

India and Saudi Arabia explored enhancing cooperation in fertilizers, petrochemicals, and mining to boost trade and investments during meetings between Commerce and Industry Minister Piyush Goyal and Saudi Minister Bandar bin Ibrahim Alkhorayef. The bilateral trade stands at $43 billion in 2023-24, with Indian companies investing significantly in Saudi Arabi […]