Exporters association Federation of Indian Export Organisations (FIEO) on Wednesday said the downward trend in labour-intensive sectors of exports not good for the economy.
Merchandise exports of the country inched up 0.64 per cent, on a year-on-year basis in April, to $26.07 billion from $25.91 billion in April 2018, official data showed on Wednesday.
India's trade deficit widened to a five-month high in April due to rise in crude oil imports coupled with muted growth in export amid rising concerns over US-China trade war, government data showed on Wednesday.
India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 3.07 per cent for the month of April 2019. The index for textiles rose by 0.6 per cent while for apparel it was up by 0.4 per cent in April, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry.
The Union finance ministry is finally ready to move ahead with the single monthly return system for the Goods and Services Tax (GST), a move that will simplify the process of filing returns and also getting input tax credit.
Private lender Yes Bank on Wednesday said that Reserve Bank of India's former Deputy Governor R. Gandhi has joined its Board as Additional Director.