Page 1104 - Economy & Policy News

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

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

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.

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

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

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

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

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

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?

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

Russia-Ukraine war: Govt stares at higher fertiliser subsidy bill

Ukraine war may push FY22 burden by Rs 15k cr, hit FY23 estimate

Statsguru: From UPI to IMPS, mapping digital transactions in India

Wallets have also made a comeback, with rising transaction volumes

Will a services exports-driven economic growth strategy work for India?

While Covid hit services exports harder than manufacturing, the share of the former in global services exports seems to support the call experts have made in favour of the sector

Mumbai to go net-zero by 2050, two decades ahead of India's target

Without intervention, the effects of climate change could cost India $35 trillion over the next 50 years

Auditing officers lose adjudicating notice power under GST system

Experts allege that auditing and investigating officers were not adjudicating the notices judiciously and were retaining the demands made in them

Indian economy progressing well; high oil prices pose risks: Ashima Goyal

India's economic recovery from Covid is progressing well and the trajectory will continue but persistently high oil prices can play spoilsport, economist Ashima Goyal said

Morgan Stanley cuts India GDP growth forecast to 7.9% for FY23

As higher oil prices torpedo economic recovery worldwide, Morgan Stanley has cut India's GDP forecast for the fiscal year beginning April 1 by 50 basis points to 7.9 per cent

Indian Railways to map coal, mineral mines and ports to bridge connectivity

The Railways ministry mapping 48 mines, 29 ports across 52 districts

Gold imports surge 73% to $45 bn in April-Feb this fiscal on higher demand

India's gold imports, which have a bearing on the country's current account deficit (CAD), surged by about 73 per cent to $45.1 billion during April-February this fiscal on account of higher demand

2 thermal plants in Tamil Nadu shut as coal supply from Odisha fails

Two thermal power plants in Tamil Nadu at Mettur and Thoothukudi (each 210 MW capacity), have been temporarily shut down due to the shortage of coal.