Page 1123 - Economy & Policy News

India's February sunflower oil imports fall as war disrupts shipments

Ukraine and Russia account for more than 90% of India's imports of sunflower oil

Govt issues draft rules for vehicle fitness certificates, registration

Vehicles will have to display validity of fitness certificate and registration mark in a prescribed manner, as per a draft notification issued by the Ministry of Road Transport and Highways

Microfinance sector's contribution to GVA to be 2.7-3.5% by 2025-26: Study

The impact of the microfinance sector on Gross Value Added (GVA) of the economy is expected to be between 2.7 and 3.5 per cent by 2025-26, according to a study report released on Thursday.

FinMin to monitor revenue, expenditure on daily basis from March 15

Keen to keep government deficit within stated targets, the finance ministry will from March 15 start daily monitoring of the revenue receipts, including tax collections, as well as expenditure.

Ukraine war, oil prices may force RBI to re-think rate hike cycle: Analysts

The Budget and RBI's last policy took a conservative estimate of crude prices $75 per barrel. This is likely to be a challenge going forward, economists say

LIC IPO: 10.8 million eligible to avail of policyholders' quota

LIC had over 282 million policies in force as of September 30, 2021, but policyholders tend to have more than one policy

Rajasthan's pension outgo has risen faster than other states, UTs: RBI data

Revised estimate on Rajasthan govt's fiscal deficit is seen to have worsened to 6.12% of GSDP in 2020-21, according to a note from Delhi-based PRS Legislative Research

Reliance Nippon Life's Sunil Agrawal named CFO of LIC ahead of mega IPO

Prior to Agrawal's appointment, Shubhangi Sanjay Soman was executive director, finance and accounting. The position of Executive director F&A has been changed to CFO as LIC gets set to list

Ministry of Defence nod to India Inc to build light tank, defence equipment

Projects under Make-I to be govt-funded; under Make-II, industry-funded

US, UK, Japan, other countries interested to attend Bengal biz summit: Govt

Diplomats of Italy, Netherlands, Paraguay, Kenya, Bosnia and Herzegovina, Malaysia, Morocco and Slovenia also joined the session virtually

Attitudes to women's work reason for dismal labour participation rate

Large majorities among those with a college degree (80%) and those with less education (88%) agree with the notion that wives must always obey their husbands

Goyal asks industry to raise manufacturing contribution to 25% of GDP

Commerce and Industry Minister Piyush Goyal asked the industry to look at ways to increase the contribution of the manufacturing sector to 25 per cent of GDP

Govt gets multiple expressions of interest for privatisation of PDIL

The government has received multiple expressions of interest for privatisation of Projects & Development India Ltd (PDIL), DIPAM Secretary Tuhin Kanta Pandey said on Thursday.

RBI launches household surveys to gather inputs for monetary policy

Reserve Bank on Thursday announced the launch of next round of households surveys to capture inflation expectations and consumer confidence

Rupee slips 15 paise to close at 75.95 to the dollar amid oil surge

At the interbank foreign exchange market, the rupee opened strong at 75.76 against the American dollar but soon entered the negative territory as investors turned towards safe-haven assets

Govt considering relief for exporters hit by Ukraine crisis: Report

A govt official, who declined to be named, said Indian exporters are owed about $500 mn from Russia and the govt may guarantee banks' letters of credit or loans to help ease the crunch

Jharkhand govt tables over Rs 1 trillion budget for FY'23

Aiming at fuelling growth, the JMM-led Jharkhand government Thursday unveiled a Rs 1.01-lakh crore budget for the 2022-23 fiscal, with a proposal to hike capital expenditure by 59 per cent.

Indian trade, current account deficit seen widening, rupee under pressure

India's trade deficit widened sharply to $21.19 billion in February compared to $17.94 billion the previous month, preliminary data shows

War Casualty: Russia-Ukraine crisis to dent India's auto sector

India's automobile industry is expected to bear the brunt of lower supplies of components triggered by the ongoing Russia-Ukraine war.

India to benefit from increased global demand for metals, foodgrains

India is well positioned to benefit from the increased global demand for steel, aluminium and foodgrains -- wheat and rice, said brokerage house ICICI Securities.