Page 1097 - Economy & Policy News
Media and entertainment projected to be $100-billion industry by 2030
The Indian media and entertainment industry is one of the fastest growing media industries in the world and is projected to reach USD 100 billion by 2030, Apurva Chandra, Secretary, Ministry of Information and Broadcasting (MIB), said on Friday.
 "Media and entertainment projected to be $100-billion industry by 2030")
TN budget futuristic, aimed at propelling economic growth, says CII
Confederation of Indian Industry Tamil Nadu on Friday termed the budget presented by Finance Minister Palanivel Thiaga Rajan as futuristic, inclusive and growth-oriented propelling economic growth
 "TN budget futuristic, aimed at propelling economic growth, says CII")
Russian oil exports to India quadrupled in March as Europe shuns cargoes
Russia has exported 360,000 barrels a day of oil to India in March so far, nearly four times the 2021 average.
 "Russian oil exports to India quadrupled in March as Europe shuns cargoes")
Work to identify beneficiaries for basic income to women on: Tamil Nadu FM
The work to identify eligible beneficiaries of the assistance to women heads of families is on in full swing, Finance Minister of the State Palanivel Thiaga Rajan told the Assembly on Friday.
 "Work to identify beneficiaries for basic income to women on: Tamil Nadu FM")
Budget: Tamil Nadu to close FY23 with Rs 6.3-trn debt, says state FM
Tamil Nadu is expected to end up with a total debt of Rs 653,348.73 crore by March 31, 2022, Finance Minister Palanivel Thiaga Rajan said on Friday.
Russian-Ukraine war impact: Steel producers feel a new pinch in India
The Russia-Ukraine crisis has seen product prices soar, but raw material costs are rising even further
 "Russian-Ukraine war impact: Steel producers feel a new pinch in India")
Tamil Nadu Minister presents Budget, says revenue deficit set to decline
The DMK government in Tamil Nadu presented the Budget for 2022-23 and FM Palanivel Thiaga Rajan said that for the first time since 2014, the revenue deficit is set to decrease by over Rs 7,000 crore.
 "Tamil Nadu Minister presents Budget, says revenue deficit set to decline")
Will India seize wheat export contracts missed by Russian-Ukraine?
With two major wheat exporters locked in a war, the world is now looking for countries that can fill the void. Will India be able to rise to the occasion? Can it overcome the logistical bottlenecks?
 "Will India seize wheat export contracts missed by Russian-Ukraine?")
Ukraine crisis: Most crops trade above MSP save chana and some other pulses
Gains for farmers, but retail and wholesale inflation likely to be impacted
 "Ukraine crisis: Most crops trade above MSP save chana and some other pulses")
Direct tax mop-up beats the revised estimates at Rs 13.6 trillion
Up more than Rs 1 trn over RE for FY22, to help govt rein in fiscal deficit at 6.9%
 "Direct tax mop-up beats the revised estimates at Rs 13.6 trillion")
NPCI launches on-device wallet feature for UPI users for small transactions
Initially, UPI Lite will process transactions for NPCI wallet in near offline mode i.e., debit offline and credit online.
 "NPCI launches on-device wallet feature for UPI users for small transactions")
SBI signs agreement to provide $1-bn credit facility to Sri Lanka
The finance ministry on Thursday said State Bank of India (SBI) will provide $1 billion credit facility to Sri Lanka for procurement of food, medicines and other essential items.
 "SBI signs agreement to provide $1-bn credit facility to Sri Lanka")
India's merchandise export set to cross $400 bn in current fiscal: Goyal
India's auto components industry has for the first time recorded a trade surplus of $600 mn, says Union Commerce Minister
 "India's merchandise export set to cross $400 bn in current fiscal: Goyal")
India's oil demand likely to jump 8% to 5.15 mn barrels per day in 2022
India's oil demand rose from 4.51 million barrels per day in 2020 to 4.76 million bpd in 2021, recording a 5.61 per cent growth
 "India's oil demand likely to jump 8% to 5.15 mn barrels per day in 2022")
Immediate fuel price hike unlikely; govt comfortable with $100 crude
The last excise duty cut by the Centre was in November 2021, ahead of elections in five key states, including Uttar Pradesh and Punjab.
 "Immediate fuel price hike unlikely; govt comfortable with $100 crude")
Moody's lowers India growth estimate for CY22 to 9.1% on Ukraine conflict
Last month, the agency revised India's economic growth estimates in CY2022 upwards to 9.5 per cent from 7 per cent on stronger than expected recovery.
 "Moody's lowers India growth estimate for CY22 to 9.1% on Ukraine conflict")
India always exploring all possibilities in global energy markets: MEA
Asked about India's position on the Russian aggression against Ukraine, Bagchi said India has been in touch with all sides, including at the highest level
 "India always exploring all possibilities in global energy markets: MEA")
I-T dept has made highest tax collection in its history: CBDT Chairman
The net collection numbers as on today is Rs 13.63 trn which is against Rs 11.18 trn of 2018-19, Rs 10.28 trn of 2019-20 and Rs 9.24 trn of 2020-21, he said
 "I-T dept has made highest tax collection in its history: CBDT Chairman")
Direct tax collection soars 48% in FY22, advance tax payment up 41%
Almost 53% of all direct tax collection was from corporate tax, while 47% came from personal income tax, including securities transaction tax on shares
 "Direct tax collection soars 48% in FY22, advance tax payment up 41%")
India to study sanctions impact on trade settlement with Russia
By Nidhi Verma and Alasdair Pal
 "India to study sanctions impact on trade settlement with Russia")