Page 1054 - Economy & Policy News

Mumbai utility hikes CNG price by Rs 4 per kg; spares domestic gas users

Citing a steep hike of 110 per cent in the cost of natural gas supplies, city gas distributor MGL increased the retail price of automobile fuel CNG by Rs 4 per kg

Retail inflation for industrial workers rises to 5.35% in March

Retail inflation for industrial workers rose to 5.35 per cent in March from 5.04 per cent in February this year, mainly due to higher prices of certain food items.

March core sector growth slows down to 4.3% from 12.6% a year ago

The growth rate of the eight infrastructure sectors - coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity - had expanded by 6 per cent in February

GST Council meet: Extension of compensation cess to states to be in focus

The states have urged the Centre to extend the five-year compensation period under the GST law before its termination by June-end

Centre woos semiconductor makers in quest to become key global player

India will provide support for companies looking to invest in semiconductor manufacturing, Prime Minister Narendra Modi said on Friday

Ethiopian Airlines to boost India flights, eyes higher traffic from BRICS

Ethiopian Airlines, the largest carrier in Africa, is allowed to operate 35 flights per week to Mumbai, Delhi, Bengaluru and Chennai.

Centre asks state-run companies to consider buying Russian oil assets

Oil ministry also asked OVL, the overseas investment arm of Oil and Natural Gas Corp, to consider buying a 30% stake held by Exxon Mobile Corp, in the Sakhalin 1 project in Russia's Far East

DCC likely to meet on Friday to discuss pricing of 5G spectrum

DCC may discuss whether the issue of E band should be referred to the regulator to fix a base price in case it is auctioned

India's fertiliser subsidy may go up by 55% to record Rs 2.5 trillion

The government will not increase retail prices of urea and also provide adequate subsidies to ensure that the maximum retail prices of non-urea fertilisers remain at the present level, sources said

India braces for sharp rise in edible oil rates, but spike could be short

Indonesia has banned palm oil exports, but it has to liquidate stockpile and demand could be met from other sources.

Fuel tussle: Petrol dearer 5% since November in states with no VAT cut

The Trinamool Congress (TMC) tweeted that the Centre owes West Bengal a whopping Rs 97,807.91 crore

India's personal data protection bill may threaten innovation, growth: USTR

The USTR said patent issues continue to be of concern in India

Capital expenditure crucial as inflation may hit India Inc plans: Icra

Icra said it expected capacity utilisation to reach the critical threshold of 75 per cent required to trigger broad-based capacity expansion, only by the end of the current calendar year

India's peak power supply touches record level of 204 GW on Thursday

India's peak power demand met or highest supply in a day touched all-time high of 204.65 GW on Thursday amid ongoing heatwave sweeping through vast swathes of country increasing demand for electricity

Need for ethics, corporate governance standards in startups: Piyush Goyal

While Goyal did mention the name of the startup, his statement comes after there have been several reports of corporate governance lapses at the unicorn Bharat Pe over the last few months.

India should drop its high foreign liquor taxes, says France's Pernod

The 150% tax on imported liquor has long been a sore point for the industry, and poses a "large challenge" for Pernod Ricard, South Asia CEO Thibault Cuny said

India to launch open e-commerce network to take on Amazon, Walmart

The government's so-called ONDC platform will allow buyers and sellers to connect and transact with each other online, no matter what other application they use

Govt cancels some passenger trains to make way for coal amid power crisis

India has canceled some passenger trains to allow for faster movement of coal carriages as the nation scrambles to replenish depleting inventories at power plants\

RBI modifies norms for banks on short term crop loan scheme under KCC

In order to provide short term crop loans up to Rs 3 lakh to farmers at an interest rate of 7 per cent per annum, the government offers interest subvention of 2 per cent annually to banks

Sri Lanka crisis opens tea export opportunity that India may miss

Sri Lanka mainly produces orthodox tea, which tends to be harvested and processed by hand. It is popular with tea drinkers in Russia and some eastern European countries.