Page 1033 - Economy & Policy News
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.
 "WEF 2022: Govt has no immediate plan to lift wheat export ban, says Goyal")
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
 "Retail inflation may settle at 5.7-6.9% in FY23 after fuel duty cuts")
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
 "A softer approach on commodities this time even as shortages loom globally")
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
 "India to start new sugar season with 6.2 million tonnes of stocks")
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
 "As Indonesia curbs exports, Indian palm oil imports could fall to 11-yr low")
The 5G leapfrog to 6G: New technology needs a 'whole-of-govt' ecosystem
Digital changes are now a big deal in India, where a lot of the country's government-to-citizen services as well as a vast swathe of the payments business ride on technology platforms
 "The 5G leapfrog to 6G: New technology needs a 'whole-of-govt' ecosystem")
Power ministry seeks 2-year extension on deadline for emission norms
Power ministry has sought a two-year extension from the environment ministry for utilities to install emission cutting equipment, according to a power ministry letter
 "Power ministry seeks 2-year extension on deadline for emission norms")
Madhya Pradesh ministerial group agrees to reduce import duty on beer, wine
A group of ministers (GoM) in the Madhya Pradesh government deliberating on excise matters has given the consent to reduce the import duty on beer and wine in the state, state home minister said
 "Madhya Pradesh ministerial group agrees to reduce import duty on beer, wine")
Govt announces import relief for edible oil; cut in sugar exports next
Move follows ban on wheat export to rein in inflation
 "Govt announces import relief for edible oil; cut in sugar exports next")
India committed to strengthen multilateral trade system: Goyal to WTO chief
Commerce and Industry Minister Piyush Goyal met World Trade Organisation Director-General Ngozi Okonjo-Iweala and reiterated India's support for strengthening the multilateral trading system
 "India committed to strengthen multilateral trade system: Goyal to WTO chief")
Why must India tread cautiously as it joins IPEF?
This week India joined the US-led Indo-Pacific Economic Framework. While the final contours of India's participation are yet to emerge, there could be areas of friction too. India tread with caution
 "Why must India tread cautiously as it joins IPEF?")
Exports rise 21% to $23.7 billion during May 1 to 21, shows data
The total figure for May is likely to be realised by the commerce ministry in June
 "Exports rise 21% to $23.7 billion during May 1 to 21, shows data")
Women in lower-middle-income countries facing worst brunt of pandemic: Data
There are 44 million fewer jobs for women across the world compared to pre-pandemic period; 25.5 million fewer jobs were available in lower-middle-income countries
 "Women in lower-middle-income countries facing worst brunt of pandemic: Data")
WEF 2022: India on top for trust in domestic companies, says study
On the overall trust index, taking into account trust in NGOs, business, government and media, India is now placed at the second place after China, as against third in January this year
 "WEF 2022: India on top for trust in domestic companies, says study")
Govt imposes restrictions on sugar exports from June 1, says DGFT
However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ
PSU privatisation: Centre asks for legal declaration from bidders
An entity, which is disqualified, will not be allowed to participate merely because it has filed an appeal against an adverse order
 "PSU privatisation: Centre asks for legal declaration from bidders")
Quad countries make $50-bn infra push for Indo-Pacific to counter China
Without naming Sri Lanka, the Quad leaders also resolved to address debt issues of countries in the region
 "Quad countries make $50-bn infra push for Indo-Pacific to counter China")
Coal production rose to 34 MT in 1st half of May to meet power demand: Govt
The total coal dispatch including non-CIL coal producing units has been to the tune of 71.77 MT for the entire month of April, registering a growth of 9.39 per cent on a year-on-year basis
 "Coal production rose to 34 MT in 1st half of May to meet power demand: Govt")
Lanka seeks $500-mn loan from India for fuel purchases amid forex crisis
The economic crisis has also triggered a political crisis in Sri Lanka and a demand for the resignation of President Gotabaya Rajapaksa
 "Lanka seeks $500-mn loan from India for fuel purchases amid forex crisis")
WEF 2022: The World Economic Forum's focus remains the western world
A Business Standard analysis found that the US and the UK top the list of discussions at the World Economic Forum 2022 Annual meeting.
 "WEF 2022: The World Economic Forum's focus remains the western world")