The fall in apparel exports has compelled the region-based exporters, especially from Punjab and Haryana, to look towards new and emerging markets.
New Delhi: Goods and Services Tax (GST) collections in March came in at a record Rs 1.06 lakh crore, but not enough to meet the government’s target for the fiscal year ended March 31, official data showed.
The rupee on Tuesday recovered sharply to settle at 68.74 against the US dollar with gains of 40 paise amid sustained foreign fund inflows and heavy buying in domestic equities. With exporters still struggling to see a significant revival, appreciation of the rupee may add more pressure.
Commerce & Industry Minister Suresh Prabhu is expected to chair the meeting scheduled on April 4.
The RBI’s rate setting panel on Tuesday started its 3-day deliberations for the first bi-monthly monetary policy of 2019-20 amid expectations of a cut in key lending rate by another 25 basis points to boost economic activities.
As cotton prices ruled firm for most of the 2018-19 marketing season starting October, the state-run Cotton Corporation of India (CCI) could purchase only 10.7 lakh bales under the MSP scheme. The bulk of the procurement — over 70 per cent — has been from Telangana followed by Maharashtra.