Page 1103 - Economy & Policy News
FPI outflows exceed 2008 global financial crisis as Fed policy move nears
Selling accelerated after Russia attacked Ukraine in February and caused a spike in global commodity prices
 "FPI outflows exceed 2008 global financial crisis as Fed policy move nears")
GoI tracks the money trail: How PFMS will pull plug on spending slippages
The updated Public Financial Management System will complete one year in operation on March 31, but challenges to full integration remain
 "GoI tracks the money trail: How PFMS will pull plug on spending slippages")
Ukraine war: SBI sees CAD at 3.5% if crude boils; GDP growth at 7.1%
The rupee is the worst hit emerging market currency since the invasion of Ukraine by Russia and the resultant sweeping economic sanctions against Moscow
 "Ukraine war: SBI sees CAD at 3.5% if crude boils; GDP growth at 7.1%")
Exports up 25.1% to $34.57 bn in Feb; trade deficit widens to $20.88 bn
According to the data, gold imports in February dipped by 9.65 per cent to USD 4.8 billion
 "Exports up 25.1% to $34.57 bn in Feb; trade deficit widens to $20.88 bn")
Defence Ministry projected Rs 2.15 trn for capital outlay for FY23
Mos Defence Ajay Bhatt further added that an amount of Rs 4,87,739 crore was projected by the defence ministry for the defence services against which allocation of Rs 3,85,370 crore has been received
 "Defence Ministry projected Rs 2.15 trn for capital outlay for FY23")
India hopes for oil from Iran, Venezuela; higher OPEC output to cool prices
It will also evaluate the Russian offer to sell crude oil at discounted prices after considering aspects such as insurance and freight required to move the fuel from the non-traditional supplier
 "India hopes for oil from Iran, Venezuela; higher OPEC output to cool prices")
Govt seeks Parliament nod for extra spending of Rs 1.07 trn in FY22
The government sought Parliament nod for net additional spending of over Rs 1.07 lakh crore, including about Rs 15,000 crore towards fertilizer subsidy, in third batch for current fiscal year
 "Govt seeks Parliament nod for extra spending of Rs 1.07 trn in FY22")
India's retail inflation rises marginally to 6.07% in Feb
According to the data released by the NSO, the rate of price rise in the food basket was 5.89% in February, up from 5.43% in the preceding month
 "India's retail inflation rises marginally to 6.07% in Feb")
Top headlines: Feb inflation rises to 6.07%; Chandra named AI chairman
Business Standard brings you the top headlines on Monday
 "Top headlines: Feb inflation rises to 6.07%; Chandra named AI chairman")
Feb WPI inflation spikes to 13.11% on costlier crude; food articles soften
After two months of mild easing, WPI inflation accelerated in February and remained in double digits for the 11th consecutive month, beginning April 2021
 "Feb WPI inflation spikes to 13.11% on costlier crude; food articles soften")
Nine states have not reduced VAT on petrol, diesel: Hardeep Puri in RS
The minister also informed the house that fuel prices have gone up by over 50% in many countries but have remained stable and risen by a mere 5% in India during the pandemic
 "Nine states have not reduced VAT on petrol, diesel: Hardeep Puri in RS")
Many states request GST compensation extension beyond 5 years: FM
Many states have requested extension of the compensation mechanism under the GST beyond June 2022, Finance Minister Nirmala Sitharaman said on Monday.
 "Many states request GST compensation extension beyond 5 years: FM")
Sugar prices to change due to India's falling demand, says Raizen CEO
Global sugar prices will structurally change as demand from India falls and more volatility is expected in correlation with energy prices, Ricardo Mussa, CEO of Raizen said
 "Sugar prices to change due to India's falling demand, says Raizen CEO")
Govt seeks Parliament's nod for net additional spending of Rs 1.07 trn
The government on Monday sought Parliament's nod for net additional spending of over Rs 1.07 trillion
 "Govt seeks Parliament's nod for net additional spending of Rs 1.07 trn")
India's February palm oil, sunflower oil imports drop month-on-month
India's palm oil imports in February fell 18% from a month prior because of higher prices, while sunflower oil imports plunged 50% as supplies from the Black Sea region were disrupted
 "India's February palm oil, sunflower oil imports drop month-on-month")
Ukraine war marks decline of globalization; we'll miss it when it's gone
The war in Ukraine doesn't necessarily mark sharp a break in history. But it underlines and will perhaps cement the decline of globalisation
 "Ukraine war marks decline of globalization; we'll miss it when it's gone")
India will ensure steady coking coal cargoes to allay supply concerns
India will take steps to ensure a steady supply of coking coal for domestic steel companies, which are struggling with cargo disruptions and rocketing prices in wake of Russia's invasion of Ukraine
 "India will ensure steady coking coal cargoes to allay supply concerns")
From biscuits to fuel, Ukraine war driving up prices of everything
The Ukraine crisis has led to a rally in commodity prices. Consumer goods companies, hit with high input costs, are now passing on the price rise to customers. Will there be more price rise in FMCG?
 "From biscuits to fuel, Ukraine war driving up prices of everything")
Current WPI series to be scrapped, new one with 2017-18 as base yr on cards
Approval of various committees being sought before the new series is released
 "Current WPI series to be scrapped, new one with 2017-18 as base yr on cards")
Russia-Ukraine war: Govt stares at higher fertiliser subsidy bill
Ukraine war may push FY22 burden by Rs 15k cr, hit FY23 estimate
 "Russia-Ukraine war: Govt stares at higher fertiliser subsidy bill")