Page 1068 - Economy & Policy News
India, US mull using Indian shipyards for maintenance of American vessels
In a small but significant move, India and the US have decided to explore the possibilities of Indian shipyards not only maintaining but also repairing American navy ships.
 "India, US mull using Indian shipyards for maintenance of American vessels")
RBI signals discomfort with sharp yield uptick; issues new seven-year paper
The RBI statement showed for a seven-year paper, the notified amount was Rs 7,000 crore and bids received were worth Rs 22,632 crore
 "RBI signals discomfort with sharp yield uptick; issues new seven-year paper")
Lack of planning by Maharashtra reason for coal shortage: Union Minister
"The MVA is raising a hue and cry about shortage of coal. If the state government had prepared a plan in advance, it would not have faced power shortage," Raosaheb Danve said
 "Lack of planning by Maharashtra reason for coal shortage: Union Minister")
Govt in discussion with World Bank on framework for coal mine closure
Coal Additional Secretary M Nagaraju said the government is committed to ensuring that mines are properly and scientifically closed for the benefit of the society
 "Govt in discussion with World Bank on framework for coal mine closure")
Centre allows tolling of up to 25% for thermal power plants
Cabinet clears use of land not meant for coal mining
 "Centre allows tolling of up to 25% for thermal power plants")
Domestic hotel industry to return to pre-Covid level this fiscal: Report
According to its report, the hotel industry is expected to clock 60 per cent of pre-COVID revenues in FY22, despite almost four months of impact because of COVID 2.0 and COVID 3.0
 "Domestic hotel industry to return to pre-Covid level this fiscal: Report")
Do strategic interests rule over economic gains in India's new trade pacts?
While the commerce ministry expects the utilisation rate of the current round of trade deals to be higher, the choice of partners shows a close fit with India's geopolitical ambitions
 "Do strategic interests rule over economic gains in India's new trade pacts?")
India's overall exports touch an all-time high of $669.65 bn in FY22
Goyal said that India is now an international aligned economy and the world is our market today, not India
 "India's overall exports touch an all-time high of $669.65 bn in FY22")
Services exports touched all-time high at $250 bn in FY22: Piyush Goyal
However, this is provisional data and the figure may increase once the final data is released, he added
 "Services exports touched all-time high at $250 bn in FY22: Piyush Goyal")
India achieved export target of $418 billion this year: Piyush Goyal
Goyal said the Indian textile Industry has the potential to achieve $100 billion in exports by 2030
 "India achieved export target of $418 billion this year: Piyush Goyal")
Govt working on scheme to promote natural farming: Narendra Singh Tomar
Tomar also urged scientists to provide their research inputs to reap more benefits from traditional methods of farming
 "Govt working on scheme to promote natural farming: Narendra Singh Tomar")
Centre releases Rs 2.94 trn to FCI, states as food subsidy last fiscal
'This release of food subsidy is about 140% of the food subsidy released during 2020-21 and about 267 per cent of the food subsidy released during 2019-20,' an official statement said
 "Centre releases Rs 2.94 trn to FCI, states as food subsidy last fiscal")
India's coal production grows 8.5% to 777.23 million tonnes in FY22
The statement assumes significance amid reports of coal shortages due to rising demand for electricity with the onset of summer season
Power ministry recommends importing coal for blending to meet demand
It has also allowed tolling which essentially would mean giving electricity producers access to coal near a plant rather than transporting it from allocated mines that may be in far away areas
Ukraine war to result in 1.3% lower GDP growth for India, says WB official
He said that even the fact that India is able to buy some cheap oil from Russia at the moment, the big picture is still that they are being hurt by the high commodity prices in the market
 "Ukraine war to result in 1.3% lower GDP growth for India, says WB official")
India allows state utilities to sell 25% allocated coal to other producers
India is likely to face more power cuts this year as utilities' coal inventories are at the lowest pre-summer levels in at least nine years
 "India allows state utilities to sell 25% allocated coal to other producers")
World Bank cuts India's FY23 GDP growth forecast to 8% from 8.7%
In India, household consumption will be constrained by the incomplete recovery of the labour market from the pandemic and inflationary pressures, the bank said
 "World Bank cuts India's FY23 GDP growth forecast to 8% from 8.7%")
CCEA approves Rashtriya Gram Swaraj Abhiyan with outlay of Rs 5,911 cr
Cabinet has today approved continuation of Rashtriya Gram Swaraj Abhiyan till 2025-26 with outlay of Rs 5,911 crore, says I&B Minister Anurag Thakur
 "CCEA approves Rashtriya Gram Swaraj Abhiyan with outlay of Rs 5,911 cr")
Exports up nearly 20% to $42 bn in March; trade deficit widens to $18.5 bn
While total exports during 2021-22 increased to a record high of $419.65 billion, imports too soared to $611.89 billion, leaving a trade gap of $192.24 billion
 "Exports up nearly 20% to $42 bn in March; trade deficit widens to $18.5 bn")
PE inflows in realty sector dips 32% to $4.3 bn in FY'22: Report
Private equity (PE) investments in real estate sector fell 32 per cent to $4.3 billion in the last fiscal year mainly due to the Covid-19 pandemic
 "PE inflows in realty sector dips 32% to $4.3 bn in FY'22: Report")