Page 1016 - Economy & Policy News
Centre permits green open access for smaller electricity consumers
Threshold brought down to 100 kW from 1 Mw; open access allows consumer to buy power from a source of its choice
 "Centre permits green open access for smaller electricity consumers")
Govt unveils policy for air sports, sees 10x annual revenue growth
Other than direct revenue, air sports activities will gain more from growth of travel, tourism, infrastructure, and local employment, especially in the hilly regions
 "Govt unveils policy for air sports, sees 10x annual revenue growth")
FinMin releases revenue deficit grant of Rs 7,183 cr to 14 states
States will get a total revenue deficit grant of Rs 86,201 cr in FY23, which will be released in 12 equated monthly instalments
 "FinMin releases revenue deficit grant of Rs 7,183 cr to 14 states")
BS Number Wise: India's savings don't help govt build a social safety net
India needs the other kind of saving now
 "BS Number Wise: India's savings don't help govt build a social safety net")
India's power crisis deepens as policy issues eclipse rooftop solar
A streamlined policy could have helped save coal reserves, cut emissions & averted embarrassment of dealing with frequent power crises
 "India's power crisis deepens as policy issues eclipse rooftop solar")
'Hiring demand up 9% in May led by telecom, BFSI, import-export sectors'
The job market continued to show growth for the second consecutive month of FY23 with a benchmark year-on-year recovery of 9 per cent in May, according to the Monster Employment Index (MEI).
 "'Hiring demand up 9% in May led by telecom, BFSI, import-export sectors'")
World Bank cuts India's economic growth forecast to 7.5% for FY23
This is the second time that the World Bank has revised its GDP growth forecast for India in the current fiscal
 "World Bank cuts India's economic growth forecast to 7.5% for FY23")
India to ramp up coal output to reduce dependence on imports: Moody's
The government has recently mandated CIL to import coal as an emergency measure to avoid a shortage of coal for the country's power utilities and build up buffer stock
 "India to ramp up coal output to reduce dependence on imports: Moody's")
Govt looking to finalise new social media rules before July-end: MoS IT
Rajeev Chandrasekhar says govt open to industry suggestions on efficient grievance redressal mechanism for social media users
 "Govt looking to finalise new social media rules before July-end: MoS IT")
Why PLI scheme in IT hardware sector hasn't taken off despite laptop demand
Imports shoot up as local production remains way short of expectations
 "Why PLI scheme in IT hardware sector hasn't taken off despite laptop demand")
Food export restrictions to give priority to 'vulnerable countries': Centre
India clarified that it has placed export restrictions on wheat to ensure that the countries in need are given priority and reiterated that it will help those facing food shortages because war
 "Food export restrictions to give priority to 'vulnerable countries': Centre")
Centre working on mechanism to resolve GST disputes with states: Report
The finance ministry is working on the procedures of the GST dispute resolution mechanism as some of the states have been demanding
 "Centre working on mechanism to resolve GST disputes with states: Report")
Piyush Goyal asks spice exporters to maintain quality to sustain growth
Union Minister of Commerce and Industry Piyush Goyal asked the spice exporters to strive to maintain the comparative advantage to sustain the growth in the spice sector
 "Piyush Goyal asks spice exporters to maintain quality to sustain growth")
New social media laws in response to rights violations, says Centre
The Indian government last week released a draft of changes to its IT law that would require companies to "respect the rights accorded to the citizens under the constitution of India"
 "New social media laws in response to rights violations, says Centre")
Panicked traders boost forward buys of Indian rice fearing a ban
In the last two weeks, traders have signed contracts to export 1 million tonnes of rice for shipments from June through September
 "Panicked traders boost forward buys of Indian rice fearing a ban")
Hope to achieve target of operating 1st bullet train in 2026: Vaishnaw
Railway Minister Ashwini Vaishnaw said they are confident of achieving the target of running the country's first bullet train between Surat and Bilimora in Gujarat in 2026
 "Hope to achieve target of operating 1st bullet train in 2026: Vaishnaw")
India's May palm oil imports surge to 7-month high despite Indonesia's ban
India's palm oil exports in May were its highest in seven months as the country overcame curbs on Indonesian exports by sourcing more of the commodity from Malaysia, Thailand and Papua New Guinea
 "India's May palm oil imports surge to 7-month high despite Indonesia's ban")
India's bilateral trade with Gulf Council grows at rapid pace, data shows
Bilateral trade has increased to USD 154.73 billion in 2021-22 from USD 87.4 billion in 2020-21
 "India's bilateral trade with Gulf Council grows at rapid pace, data shows")
India in talks to increase Russian oil imports from Rosneft: Report
State processors are collectively working on finalising and securing new six-month supply contracts for Russian crude to India, said people with knowledge of the companies' procurement plans
 "India in talks to increase Russian oil imports from Rosneft: Report")
India's economic growth to be supported by fiscal spending: FM Sitharaman
The government has proposed to significantly step up the public investment by raising capital expenditure by 35.4 per cent to Rs 7.5 lakh crore or 2.9 per cent of the GDP in the current financial year
 "India's economic growth to be supported by fiscal spending: FM Sitharaman")