Page 1041 - Economy & Policy News
Don't want wheat to be exported in an unregulated manner, says govt
No order is in perpetuity, wheat export ban be reviewed, says commerce secretary B V R Subrahmanyam
 "Don't want wheat to be exported in an unregulated manner, says govt")
Govt sets up committee to create enabling ecosystem to boost cruise tourism
Union Minister Sarbananda Sonowal on Saturday said the government has set up a high-level committee to create an enabling ecosystem for the development of cruise tourism in the country.
 "Govt sets up committee to create enabling ecosystem to boost cruise tourism")
Wheat export ban to cool down retail prices in a week or so: Govt official
The likely fall in wheat output in India and even in the government's procurement is unlikely to affect the public distribution system (PDS), he said and asserted, "PDS will be run smoothly."
 "Wheat export ban to cool down retail prices in a week or so: Govt official")
Wheat export ban to help control prices, regulate trade, says govt
'There is no dramatic fall in production. I do not think there is a crisis which needs to be imagined. There is adequate food available in government stocks and private stocks,' says commerce secy
 "Wheat export ban to help control prices, regulate trade, says govt")
No food crunch, ban on wheat exports is to check unregulated trade: Govt
The government said it would still allow exports backed by already issued letters of credit and to countries that request supplies 'to meet their food security needs'
 "No food crunch, ban on wheat exports is to check unregulated trade: Govt")
'Wheat export ban will help in crushing attempts to hoard Indian wheat'
The government's decision to ban wheat exports will help in crushing attempts by certain foreign players to hoard Indian wheat for price manipulation in global markets, according to sources.
 "'Wheat export ban will help in crushing attempts to hoard Indian wheat'")
India prohibits wheat exports with immediate effect to calm local prices
Trade sources said the decision to ban all sorts of wheat exports with immediate effect will immediately cool down the market prices of wheat and bring it closer to the MSP of Rs 2,015 per quintal
 "India prohibits wheat exports with immediate effect to calm local prices")
Govt will be able to control inflation in the medium-term: Sanjeev Sanyal
"Taking all these measures into account, I think that we are broadly in a good situation economically and will be able to keep inflation under control in the medium term," he added
 "Govt will be able to control inflation in the medium-term: Sanjeev Sanyal")
Consumer inflation at 8-year high of 7.79% may 'trigger' quicker rate hikes
Given the tone of urgency in RBI's statement to support the altered inflation-growth dynamics, "we now revise our call and expect the RBI to hike repo rate by an additional 60 bps in the rest of FY23"
 "Consumer inflation at 8-year high of 7.79% may 'trigger' quicker rate hikes")
Non-commercial construction in education institutions to draw less GST
Gujarat AAR ruled that such buildings would attract 12% GST, not 18% levied for other construction activities
 "Non-commercial construction in education institutions to draw less GST")
RBI's gold reserves up over 100 tonnes in the last two years, shows data
As at end-March 2022, the Reserve Bank held 760.42 tonnes of gold, including gold deposits of 11.08 tonnes
 "RBI's gold reserves up over 100 tonnes in the last two years, shows data")
Explained: How different procurement modes reduced EV bus prices for cities
Five cities - Delhi, Bengaluru, Kolkata, Hyderabad and Surat - ceded their power of procurement and agreed to a different procurement model to operate state-run buses
 "Explained: How different procurement modes reduced EV bus prices for cities")
Exports up 30.7% to $40.19 bn in April; trade deficit widens to $20.11 bn
India imported goods worth $60.3 billion, up nearly 30 per cent on year in April
 "Exports up 30.7% to $40.19 bn in April; trade deficit widens to $20.11 bn")
Sharp drop in procurement: Centre weighs 10% tax to rein in wheat exports
Exporters' mandatory registration on cards; PMO to decide on export ban
 "Sharp drop in procurement: Centre weighs 10% tax to rein in wheat exports")
India seeks WTO waiver to sell subsidised foodgrains in world market
'WTO's priority must be to revive world economy, sustain post-pandemic growth'
 "India seeks WTO waiver to sell subsidised foodgrains in world market")
Residential plot prices shoot up in big cities amid strong demand
Property consultants and developers say demand is rising owing to an increase in incomes in the IT industry and families preferring independent homes post-pandemic
 "Residential plot prices shoot up in big cities amid strong demand")
Annual power bill to go up by Rs 3,240 crore for Gujarat consumers
GERC allows state discom GUVNL to raise FPPPA charges by 20 paise, to add monthly burden of Rs 270 crore on users
 "Annual power bill to go up by Rs 3,240 crore for Gujarat consumers")
Hike in interest rates by banks may hit housing demand: Realtors
Soon after the central bank Reserve Bank of India (RBI) raised the repo rate by 40 basis points, the banking sector imitated the same by increasing interest rates in lending and deposit schemes.
 "Hike in interest rates by banks may hit housing demand: Realtors")
Exports rise 30.7% to $40.19 bn in Apr; trade deficit widens to $20.11 bn
Imports during the month of April under review grew by 30.97 per cent to USD 60.3 billion.
 "Exports rise 30.7% to $40.19 bn in Apr; trade deficit widens to $20.11 bn")
Chhattisgarh becomes first state to restore old pension scheme: Report
The government issued a notification saying that the old pension scheme will be effective from April 1, 2022
 "Chhattisgarh becomes first state to restore old pension scheme: Report")