Page 1017 - Economy & Policy News

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 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'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

Need to make our banks key part of global trade: PM Narendra Modi

Modi said India has developed various financial inclusion platforms and there is a need to create awareness about them for their optimum utilisation

Govt looks to restructure export promotion councils, aims to boost growth

The government has delegated PwC India the responsibility of preparing the primary report

Rajnath-headed DAC clears projects worth Rs 76,390 crore for armed forces

"The focus (will be) on enhancing indigenisation, particularly on indigenising aero-engine material," said the DAC

National Asset Reconstruction Company may reshuffle accounts on first list

A total of 38 non-performing accounts, worth Rs 82,845 crore, were identified for transfer to NARCL in phases

Centre seizes 35,000 bags of urea diverted from agricultural use

Being highly subsidised, there is always a tendency to divert urea towards non-agriculture purposes

Fertiliser prices likely to come down as India secures supplies till Dec

Fertiliser demand usually peaks between April and June for the kharif harvest; between October and December for the rabi sowing season

MoD approves procurement of military equipment, platforms worth Rs 76k cr

For the Indian Navy, the Defence Acquisition Council accorded approval for the procurement of next generation corvettes at an estimated cost of around Rs 36,000 cr

Trade talks with EU to begin on June 17: Commerce Minister Piyush Goyal

The effort is to provide market access and new opportunities for our exporters and consequently give fishermen a better future, Goyal said

Recovery tracker: Mobility on the rise, vehicle registrations up 8.7%

Railways showed a moderation in freight growth numbers

By simplifying address-proof function, Aadhaar seeks to expand access

What's changed now is that the UIDAI will offer users the option of updating their address

There is far less support for climate policies in rich nations: CEA

Govts of developed countries have a far bigger challenge convincing their public to accept climate change mitigation policies and change their own personal behaviour to make those policies work: CEA

Gold imports surge multifold ahead of key festivals, wedding season

In value terms, May imports surged to $5.83 billion from $678 million a year ago

Commercial entities reduce electricity bills by renewable energy: Mercom

Commercial and industrial entities from various sectors, including steel and cement, have reduced their electricity expenses by using renewable energy, according to Mercom India

Liquidity withdrawal expected as RBI set to hikes rates on Wednesday

RBI Governor Shaktikanta Das said late last month the bank's primary focus was to bring inflation down closer to target but it could not disregard concerns around economic growth

RBI's MPC starts 3-day deliberations amid speculation of rate hike

There are speculations that the central bank may go for at least 35 basis points (bps) hike over and above the 40 bps hike effected last month after an off-cycle MPC meeting

With green hydrogen priced at $1 a kg, India hopes to spur clean energy use

India wants global funders including the World Bank to structure guarantee programs to help access funds at low rates, said Niti Aayog CEO Amitabh Kant

High commodity prices continue to weigh on trade deficit: Acuite

The expectation of the expansion of current account deficit is not just driven by elevated global commodity prices, but is also linked to the unlocking of the economy, Acuite Ratings & Research said