Page 1105 - Economy & Policy News
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
 "Indian economy progressing well; high oil prices pose risks: Ashima Goyal")
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
 "Morgan Stanley cuts India GDP growth forecast to 7.9% for FY23")
Indian Railways to map coal, mineral mines and ports to bridge connectivity
The Railways ministry mapping 48 mines, 29 ports across 52 districts
 "Indian Railways to map coal, mineral mines and ports to bridge connectivity")
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
 "Gold imports surge 73% to $45 bn in April-Feb this fiscal on 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.
 "2 thermal plants in Tamil Nadu shut as coal supply from Odisha fails")
Bidding for DSF-III oil round, including ONGC, to start on Apr 1: DGH
Bidding for 75 small and marginal oil and gas discoveries, mostly of ONGC, that are being offered in the DSF-III bid round, will begin on April 1 and close on May 16, according to the DGH.
 "Bidding for DSF-III oil round, including ONGC, to start on Apr 1: DGH")
Covid pandemic, Russia-Ukraine conflict impacting export: Tea industry body
A body of tea planters on Saturday said exports of the commodity will be adversely impacted due to the Russia-Ukraine conflict.
 "Covid pandemic, Russia-Ukraine conflict impacting export: Tea industry body")
Cyber crime to cost economies $10 trn by 2025: Microsoft India official
He said India is adopting cloud first approach in its journey for digital transformation
 "Cyber crime to cost economies $10 trn by 2025: Microsoft India official")
India needs $20 bn annual investments to achieve climate targets: Report
The white paper by Ficci and Trilegal highlights that the country needs a large budget allocation, international finance from bilateral and multilateral sources and green private investments
 "India needs $20 bn annual investments to achieve climate targets: Report")
CPI leader Binoy Viswam urges FM to reconsider EPFO rate slash
In a letter he wrote to the minister, Viswam accused the BJP-led government of showing its true colours just after the party secured electoral victories in four states
 "CPI leader Binoy Viswam urges FM to reconsider EPFO rate slash")
Auto cos will begin manufacturing flex-fuel vehicles within 6 mths: Gadkari
Flex-fuel, or flexible fuel, is an alternative fuel with a combination of gasoline and methanol or ethanol
 "Auto cos will begin manufacturing flex-fuel vehicles within 6 mths: Gadkari")
Indian exporters sitting on large orders after Ukraine conflict: Gadkari
He said exporters are concerned over availability of containers and port-related issues
 "Indian exporters sitting on large orders after Ukraine conflict: Gadkari")
Reprocessing scrap will boost India's steel production: Minister Ram Singh
Singh said India was producing over 118 million tonnes of steel and by 2030 it is planning to produce 300 million tonnes of steel
 "Reprocessing scrap will boost India's steel production: Minister Ram Singh")
Textile min receives applications for PLI in man-made fibres, techtex
The textile ministry has received applications from as many as 67 companies to avail benefits of the production linked incentive (PLI) scheme for man-made fibres and technical textile sectors.
 "Textile min receives applications for PLI in man-made fibres, techtex")
Russia urges India to deepen investments in its oil and gas sector
Russia is keen on expanding the sales networks of Russian companies in Asia's third-largest economy.
 "Russia urges India to deepen investments in its oil and gas sector")
TN plans 20,000 MW solar plants at a cost of Rs 70K crore by 2030
Tamil Nadu Generation and Distribution Corporation (Tangedco) is planning to install solar power plants of 20,000 MW capacity at an cost of Rs 70,000 crore by 2030.
 "TN plans 20,000 MW solar plants at a cost of Rs 70K crore by 2030")
Crude prices risk can be treated as supply shock: RBI deputy governor Patra
Michael Patra adds that while geopolitical fallout is being assessed, it is reasonable to treat it as a supply shock at this stage in setting monetary policy
 "Crude prices risk can be treated as supply shock: RBI deputy governor Patra")
Airlines send out SOS as loans dry up, fuel prices hit record high
Companies have sought government intervention to get banks to lend working capital
 "Airlines send out SOS as loans dry up, fuel prices hit record high")
Boost to IT, industries, infra in Kerala during its first paperless budget
The Left government in Kerala on Friday presented a budget which made huge allocations to information technology, industries and infrastructure.
 "Boost to IT, industries, infra in Kerala during its first paperless budget")
Andhra Pradesh govt presents Rs 2.56 trillion budget for 2022-23
The Andhra Pradesh government presented the Budget for 2022-23 with a proposed expenditure of Rs 2.56 lakh crore and a projected revenue deficit of Rs 17,036 crore
 "Andhra Pradesh govt presents Rs 2.56 trillion budget for 2022-23")