Economy & Policy News
RBI must let rupee depreciate, avoid rate hikes to tame inflation: Subbarao
In comments that come days ahead of the second meeting of the rate setting panel for FY27, Subbarao said the monetary policy should be used as a "last resort" to defend the exchange rate
 "RBI must let rupee depreciate, avoid rate hikes to tame inflation: Subbarao")
India-Korea to expand CEPA talks on digital trade, supply chains
India and South Korea have expanded CEPA upgrade talks by forming new groups on digital trade, supply chains and strategic industries to address trade imbalances and deepen economic ties
 "India-Korea to expand CEPA talks on digital trade, supply chains")
India, Canada to avoid sensitive sectors in trade pact talks: Piyush Goyal
The two countries are negotiating a Comprehensive Economic Partnership Agreement (CEPA). The third round of negotiations is underway in Ottawa
 "India, Canada to avoid sensitive sectors in trade pact talks: Piyush Goyal")
Rare earths to waste management: What changes in new IIP 2022-23 series
MoSPI will launch the new IIP 2022-23 series on June 1, adding rare earths, gas supply, water supply and waste management to better reflect India's changing industrial economy
 "Rare earths to waste management: What changes in new IIP 2022-23 series")
Iran deal may ease oil stress, but won't plug India's capital or AI gaps
While stabilising the currency may help contain the current crisis, India's ability to attract global capital will remain muted
 "Iran deal may ease oil stress, but won't plug India's capital or AI gaps")
Supreme Court upholds 28% retrospective tax on online gaming firms
Top court also upholds states' right to ban online betting, gambling
 "Supreme Court upholds 28% retrospective tax on online gaming firms")
Cabinet extends SARTHAK-PDS scheme for 5 yrs with ₹25,530-crore outlay
The Union Cabinet has approved the continuation of the SARTHAK-PDS scheme till March 2031 to strengthen foodgrain distribution and modernise the public distribution system
 "Cabinet extends SARTHAK-PDS scheme for 5 yrs with ₹25,530-crore outlay")
Households' out-of-pocket expenditure on health care rose in FY23
Household spending drops from 64 percent over a decade amid rise in public health expenditure
 "Households' out-of-pocket expenditure on health care rose in FY23")
US trade officials to visit India next week to advance bilateral trade pact
A US delegation led by chief negotiator Brendan Lynch will visit India from June 1-4 to advance negotiations on the proposed bilateral trade agreement
 "US trade officials to visit India next week to advance bilateral trade pact")
GST 2.0 guidelines fail to resolve refund delays, say experts
Businesses continue to struggle with delayed inverted duty refunds, despite means for quicker provisional payouts
 "GST 2.0 guidelines fail to resolve refund delays, say experts")
FY27 toll collection growth may moderate to 5-7% amid West Asia conflict
Crisil Ratings says slowing commercial traffic and geopolitical tensions may temper toll collection growth in FY27, though credit profiles of road assets are expected to remain stable
 "FY27 toll collection growth may moderate to 5-7% amid West Asia conflict")
Cabinet approves Sarthak-PDS scheme to modernise ration distribution
The Union Cabinet approved the Sarthak-PDS scheme, allocating ₹25,530 crores to support state governments' distribution of Pradhan Mantri Garib Kalyan Anna Yojana
 "Cabinet approves Sarthak-PDS scheme to modernise ration distribution")
FM Sitharaman forgot fourth F - falling private investment: Congress
Congress targets Centre over economy, says Sitharaman ignored "fourth F" of falling private investment
 "FM Sitharaman forgot fourth F - falling private investment: Congress")
India and Canada to conclude Cepa by November, says Piyush Goyal
Carney, after a meeting with Goyal, called the Cepa between the two nations a "game changer".
 "India and Canada to conclude Cepa by November, says Piyush Goyal")
West Asia war: CNG prices rise by ₹2 a kg in Delhi, fourth hike in 2 weeks
MGL discontinues subsidies for commercial users
 "West Asia war: CNG prices rise by ₹2 a kg in Delhi, fourth hike in 2 weeks")
Lessons from income surveys by other countries offer a blueprint for India
What India's statisticians will actually borrow from any of this, and how well they will replicate in the Indian context is, however, yet to be seen
 "Lessons from income surveys by other countries offer a blueprint for India")
Moderation in revenue growth, margin looms for textile MSMEs: SME Tracker
Export-oriented RMG clusters such as Tirupur and Bengaluru are likely to see better revenue growth than domestic-focused clusters such as Kolkata and Kanchipuram
 "Moderation in revenue growth, margin looms for textile MSMEs: SME Tracker")
Anti-dumping duties can save India $3 billion per year in forex: Report
A report by C-DEP and Centre for WTO Studies says implementing pending DGTR recommendations could reduce forex outflow and support domestic industry with limited inflationary impact
 "Anti-dumping duties can save India $3 billion per year in forex: Report")
India's carbon market gathers pace as export markets raise cost of business
India's carbon market framework is moving towards implementation under the CCTS, but experts warn that verification gaps, weak penalties and limited sectoral coverage remain major concerns
 "India's carbon market gathers pace as export markets raise cost of business")
Credit guarantee scheme: Loan limit for large MFIs increased to ₹1K crore
Disbursements under the scheme are yet to begin, as microlenders had flagged that the ₹300 crore cap for large institutions was inadequate
 "Credit guarantee scheme: Loan limit for large MFIs increased to ₹1K crore")