Business

India is set to establish four specialized parks dedicated to critical mineral processing, targeting lithium and nickel first. The initiative, spearheaded by state governments with central technical assistance, is aligned with the National Critical Mineral Mission aimed at bolstering self-reliance. This move is crucial in propelling India’s transition toward green energy, ensuring a sustainable future.

In July, wholesale prices in the United States exhibited a cooling trend, providing a much-needed breath of fresh air. The decline in energy costs significantly reduced producer price pressures throughout the month. While consumer inflation also saw a slight dip, financial constraints persist for many households. Notably, wholesale inflation excluding food and energy showed improvement

Investor sentiment improved after government data showed wholesale prices in the United States were 4.7% higher in the latest month compared with a year earlier.

According to GTRI’s analysis, in June India imported crude oil worth $14.8 billion from all sources, of which $7.2 billion came from Russia. This translated into a Russian share of 48.6%.

In July, India faced a significant expansion in its trade deficit, as imports surged ahead of exports. Over the first four months of the fiscal year, cumulative trade gaps widened considerably. Nevertheless, merchandise exports reached impressive heights in July, with electronics manufacturing emerging as a crucial growth sector. Additionally, the rise in mobile phone production

Commenting on the incentive programme for promoting RuPay Debit Cards and low-value BHIM-UPI transactions, the Committee noted that the budgetary allocation of Rs 2,000 crore to compensate for losses arising from the zero-MDR regime unnecessarily increases the Department’s Demand for Grants