FTAs have not served the Indian economy and built capacities as expected. Thus, the challenge for India remains to maintain a balance between global economic integration and enhance the capacity of local markets to be able to serve as a global exporter.
India fell short of domestic coal supply targets to utilities by 7.6% in April, as output from mines owned by companies for self-use were 33% lower than required and a shortage of trains for delivery further exacerbated a crippling power crisis.
The tax department is looking to slap additional tax deducted at source (TDS) and equalisation levy on such transactions and interest income generated by Indians, they said.
The central tax devolution is likely to rise to Rs 9.3 lakh crore in FY23 from Rs 8.8 lakh crore in FY22 and from Rs 8.2 lakh crore estimated in the FY23 budget. The FY22 devolution was higher than the revised estimate of Rs 7.4 lakh crore and 2.8 per cent lower at Rs 8.1 lakh crore, Aditi Nayar, the chief economist at the agency, said.
Kisan drones are being promoted for crop assessment, digitisation of land records, spraying of pesticides and nutrients for which a budget provision has also been made, Agriculture Minister Narendra Singh Tomar noted.
The unemployment rate in the country grew to 7.83 per cent in April from 7.60 per cent in March, according to the Centre for Monitoring Indian Economy (CMIE) data.
Both sides also expressed their strong support for the upcoming negotiations between the European Union and India on a Free Trade Agreement, an Investment Protection Agreement and an Agreement on Geographical Indications.
Electricity demand touched a record high in April as its northern states reeled under the hottest pre-summer months in decades, with a surge in the use of air conditioning triggering the worst power crisis in more than six years.
