Economy
PM's internship scheme registers over 90,849 opportunities, says MCA
The scheme would target providing 125,000 internship opportunities to youth aged 21 to 24 in FY 2024-25 with a budget of Rs 800 crore
 "PM's internship scheme registers over 90,849 opportunities, says MCA")
Minority report: Unemployment rate among religious minorities up in 2023-24
But was down from the pre-Covid year
 "Minority report: Unemployment rate among religious minorities up in 2023-24")
Indian tech sector saw deals worth $635 mn in Sep quarter: Grant Thorton
Mergers and Acquisitions (M&A) activity rebounded after a significant drop in Q1 2024, growing by 44 per cent sequentially to 26 deals in Q3 2024
 "Indian tech sector saw deals worth $635 mn in Sep quarter: Grant Thorton")
Forex reserves breaks 7-week rising streak, stand at $701 bn as of Oct 4
In the period for which the forex reserves data pertains, the rupee had logged its worst week since May and had slipped 0.3% week-on-week
 "Forex reserves breaks 7-week rising streak, stand at $701 bn as of Oct 4")
Srinivas gets additional charge as CEO of public procurement portal GeM
The government has given L Satya Srinivas, Additional Secretary in Department of Commerce, the additional charge of CEO of public procurement portal GeM.
 "Srinivas gets additional charge as CEO of public procurement portal GeM")
The middle-income trap is a clear potential for India: Kenneth Kletzer
Kletzer said India may be benefitting a little by being non-combatant in an increasingly worrisome world
 "The middle-income trap is a clear potential for India: Kenneth Kletzer")
Steady growth: Net direct tax collection up 18.3% to Rs 11.3 trillion
Of the tax mop-up, personal income-tax (PIT) outpaced corporation tax. PIT stood at Rs 5.98 trillion (net) compared to Rs 4.88 trillion in the same period a year ago
 "Steady growth: Net direct tax collection up 18.3% to Rs 11.3 trillion")
Industrial output shrinks in August, a first in 22 months: Govt data
Experts attribute the fall to more than usual rainfall, demand slowdown
 "Industrial output shrinks in August, a first in 22 months: Govt data")
Less than 33% of youth can search Net, transact online: NSO survey
The share of the ones performing these tasks stood lower than the national average in as many as 16 states and Union Territories (UTs)
 "Less than 33% of youth can search Net, transact online: NSO survey")
India-EU leaders flag slow progress in free trade agreement talks
Delphin and Goyal also highlighted the need to resolve constraints and regulatory hurdles faced by companies while doing business in India and the EU, respectively
 "India-EU leaders flag slow progress in free trade agreement talks")
RBI decides to hold policy repo rate; changes stance gear to neutral
Das says inflation-growth balance well-poised; rates may start falling from Dec
 "RBI decides to hold policy repo rate; changes stance gear to neutral")
Net direct tax collection grows 18% to Rs 11.25 trillion: Govt data
Refunds worth Rs 2.31 trillion were issued between April 1 and October 10, a growth of 46 per cent
 "Net direct tax collection grows 18% to Rs 11.25 trillion: Govt data")
European Union's deforestation regulation, carbon tax unfair: Piyush Goyal
Major agriculture-exporting countries, including Brazil, India, Indonesia and the US, have raised objections to the EU Deforestation Regulation (EUDR)
 "European Union's deforestation regulation, carbon tax unfair: Piyush Goyal")
Russian exporters fear liquidity crunch as payments stall on sanctions risk
That's adding to pressures on their cash reserves, the people said, particularly as overnight borrowing costs on domestic and foreign currencies have surged above 20% and there's little
 "Russian exporters fear liquidity crunch as payments stall on sanctions risk")
Over 40% women-owned micro businesses lack emergency savings: MSC report
The report indicated that 45 per cent of women entrepreneurs lack savings for financial emergencies, making them highly susceptible to economic shocks
 "Over 40% women-owned micro businesses lack emergency savings: MSC report")
Life insurers' new business premium rises 14% to Rs 35K cr in September
Meanwhile, Life Insurance Corporation (LIC) collected new premium of Rs 20,369 crore as against Rs 18,126 crore in September 2023, recording a growth of 25 per cent
 "Life insurers' new business premium rises 14% to Rs 35K cr in September")
Edible oils import falls 29% in Sep tonnes on lower palm oil shipments
According to the data, import of vegetable oils in September declined 30 per cent to 10,87,489 tonnes compared to 15,52,026 tonnes a year earlier
 "Edible oils import falls 29% in Sep tonnes on lower palm oil shipments")
WTO cuts 2025 world merchandise trade growth forecast to 3% from 3.3%
The first half of 2024 saw 2.3 per cent year-on-year increase. The rebound came against the backdrop of a slump in 2023 - of 1.1 per cent - driven by high inflation and rising interest rates
 "WTO cuts 2025 world merchandise trade growth forecast to 3% from 3.3%")
Economists caution on RBI's growth optimism, project FY25 growth below 7.2%
RBI's confidence on growth has surprised market participants at a time when high frequency indicators pointing towards slowing economic activity
 "Economists caution on RBI's growth optimism, project FY25 growth below 7.2%")
Centre considers seed funding to establish a shipping insurance entity
The finance ministry may undertake an amendment to the Insurance Act, which will allow mutual insurance associations
 "Centre considers seed funding to establish a shipping insurance entity")
