Page 1069 - Economy & Policy News
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")
Domestic stainless steel demand expected to reach 20 MT by FY47: Report
Domestic stainless steel demand is expected to reach 20 million tonne (MT) by fiscal year 2047, according to a report.
 "Domestic stainless steel demand expected to reach 20 MT by FY47: Report")
March CPI inflation at 6.9% may trigger rate hike cycle from June: Analysts
Annual retail inflation shot up to a 17-month high of 6.95 per cent in March from a year ago, remaining above the tolerance limit of the Reserve Bank of India (RBI) for a third straight month
 "March CPI inflation at 6.9% may trigger rate hike cycle from June: Analysts")
USDA attache sees record-large India wheat harvest, exports in 2022-23
Following are selected highlights from a report issued by the U.S. Department of Agriculture's Foreign Agricultural Service (FAS) post in New Delhi:
 "USDA attache sees record-large India wheat harvest, exports in 2022-23")
Govt doesn't want to meddle in state coop laws; hopes for uniformity: Shah
Says SC ruling on 97th Constitution Amendment has clearly laid down roles of Centre and state with respect to coop institutions and all will adhere to them
 "Govt doesn't want to meddle in state coop laws; hopes for uniformity: Shah")
Will reduction in 5G spectrum prices keep Indian telcos flying?
India's telecom regulator has suggested slashing the reserve prices for the radio waves before it goes for auction. Is the debt-ridden telecom sector happy? Will this give a leg-up to the industry?
 "Will reduction in 5G spectrum prices keep Indian telcos flying?")
India plans $2 bn more of exports to sanctions-hit Russia: Report
Indian government reportedly in talks with Moscow to liberalize market access for several Indian-made products.
 "India plans $2 bn more of exports to sanctions-hit Russia: Report")
Bond yields continue to harden; rupee goes past 76 to a dollar
On Tuesday, the yield on the 10-year benchmark government bond advanced 5 basis points (bps) to close the day at 7.19 % - close to a three-year high
 "Bond yields continue to harden; rupee goes past 76 to a dollar")
Rs 1,900 crore deficit likely to hit infrastructure projects in FY23
While the Department for Promotion of Industry and Internal Trade (DPIIT) had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation.
 "Rs 1,900 crore deficit likely to hit infrastructure projects in FY23")
Pvt sector capex cycle to see revival during 2nd half of current FY: CEA
The investment from private sector has been muted for past many years despite several measures, including corporate tax cut, taken by the government to reinvigorate it
 "Pvt sector capex cycle to see revival during 2nd half of current FY: CEA")
5G spectrum price cuts not sufficient: Telecom operators slam Trai
The 5G spectrum is now being offered for 30 years, for which the base price is marginally lower at Rs 476 crore per MHz than the price that TRAI had recommended in 2018
 "5G spectrum price cuts not sufficient: Telecom operators slam Trai")
Govt says exceeded FY22 asset monetisation target; Rs 96,000 crore realised
Targets for depts that lagged to be rolled over
 "Govt says exceeded FY22 asset monetisation target; Rs 96,000 crore realised")
India's retail inflation rises to 6.95% in March; IIP remains muted
Food and oil prices push inflation to 17-month high
 "India's retail inflation rises to 6.95% in March; IIP remains muted")
Rules, input costs to make car ownership expensive in 4 yrs: Crisil study
ICE-powered vehicles to pinch more
 "Rules, input costs to make car ownership expensive in 4 yrs: Crisil study")
Indian Air Force chief laments too many different aircraft
Tender for 114 fighters may bring in even wider variety of aircraft
 "Indian Air Force chief laments too many different aircraft")
Domestic patent filings surpass international ones after 11 years
Total of 19,796 patent applications filed, 10,706 54% were filed by Indian applicants as compared to 9,090 by non-Indian applicants
 "Domestic patent filings surpass international ones after 11 years")
Govt's monetisation plan completes transactions worth Rs 96,000 cr in FY22
Road, power, coal and mining assets helped in surpassing the first-year target, the official said
 "Govt's monetisation plan completes transactions worth Rs 96,000 cr in FY22")