Page 1032 - Economy & Policy News

India joins First Movers Coalition to decarbonise carbon-heavy sectors

Led by the WEF and the US government, the First Movers Coalition targets sectors, including aluminium, aviation, chemicals, concrete, shipping, steel and trucking

PowerMin announces second special scheme in two years to clear discom dues

Total amouny owed to gencos at record Rs 1 trillion; scheme enables discoms to pay up in 48 instalments, freezes amount outstanding as on notification date

RailTel posts highest-ever consolidated income of Rs 1,628 crore in FY22

With this, RailTel has posted a profit before tax amounting to Rs 281 crore and profit after tax of Rs 209 cr during the Financial Year 21-22 on consolidated basis

Cap on sugar exports will ensure availability in festivals: Food Secretary

Edible oil industry criticises zero-tariff quota on soy and sun oil; palm imports could fall to an 11-year low.

WTO MC12: India will agree to fisheries deal if it is 'equitable'

The current draft is unfairly constraining the less developed nations that don't have the capacity and resources to support their industry and farmers

Govt exploring Rupee-Rouble payment for fuel import amid sanction: Report

The government is exploring a payment mechanism for the import of oil from Russia in view of the sanctions imposed by the US and European countries following Moscow's attack on Ukraine.

WEF 2022: India puts 'new reality' on display with Davos street show

Inside a pavilion on the Swiss Alpine resort's Promenade street beneath an "India @ Davos 2022" logo, the federal govt served up treats including 'masala chai' tea, 'samosa' snacks

Don't want surplus wheat, sugar to go in hand of hoarders: Goyal at WEF

22 countries have food regulations to protect their own food security, says union commerce minister

Govt has no plan for additional borrowing to manage fiscal deficit: Report

This, despite sacrificing revenue on account of reduction in duties on petroleum products and other goods, say official sources

Export ban decisions based on domestic needs, checking hoarders: Goyal

With the WTO chief sitting next to him in the panel, Goyal said India traditionally has never been an exporter of grains and was rather importing initially, till the Green Revolution happened.

Inflationary concerns may delay GST rate rationalisation: Report

With the inflation rate ruling at an all-time high, there is hardly any scope for GST rate rationalisation, say sources

India to keep buying 'cheap' Russian oil, discount to be finalised: Report

The official also said India was increasing its dependence on coal due to surging power demand, adding that state-run Coal India will produce more coal in the coming months.

India was never traditional supplier of wheat to world, says Goyal at WEF

Asserting that it was never a traditional player in the international wheat market, India said it will continue to allow wheat export for countries that are vulnerable, friendly

India's economy seen growing 9.2% in FY22 on upbeat rural sector: BoB

India's economy is expected to have grown at 9.2 per cent in the fiscal ended March 2022, after having contracted by 7.3 per cent in the previous financial year

Govt's move to put sugar export cap of 10 mn tonne 'abundant caution': ISMA

Sugar industry body ISMA on Wednesday said the government's decision to cap sugar exports at 10 million tonnes in 2021-22 marketing year ending September will not have a significant impact

WEF 2022: Govt has no immediate plan to lift wheat export ban, says Goyal

The world's second biggest producer of wheat banned private overseas sales of the grain on May 14 after a scorching heat wave curtailed output and domestic prices hit a record high.

Retail inflation may settle at 5.7-6.9% in FY23 after fuel duty cuts

Economists expect 40-50 bps hike in repo rate by MPC next month

A softer approach on commodities this time even as shortages loom globally

Unlike in the past, the Centre isn't restricting movement within the economy, but has only imposed export curbs. Consequently, there is no rush to use the Essential Commodities Act

India to start new sugar season with 6.2 million tonnes of stocks

On Tuesday India imposed restrictions on sugar exports for the first time in six years by capping this season's exports at 10 million tonnes

As Indonesia curbs exports, Indian palm oil imports could fall to 11-yr low

Lower palm oil purchases by the world's biggest vegetable oil importer could put pressure on Malaysian palm oil prices and may lift soyoil imports to record highs and support U.S. soyoil futures price