Page 1129 - Economy & Policy News
States without MGNREGA ombudsperson in 80% districts won't get funds
From the next fiscal, the Centre will not give funds for employment guarantee scheme MGNREGS to states that do not appoint ombudspersons in 80 per cent of their districts
 "States without MGNREGA ombudsperson in 80% districts won't get funds")
Govt scouts for chief of properties & monetisation officer for AIAHL
The government is looking to hire a person to manage and monetise land as well as other immovable properties of AI Assets Holding Ltd (AIAHL) that are estimated to be worth around Rs 14,000 crore.
 "Govt scouts for chief of properties & monetisation officer for AIAHL")
Steel consumption to rise due to govt programmes, schemes: Steel Minister
Union Steel Minister Ram Chandra Prasad Singh lauded the government and the people of Odisha for making big strides in development
 "Steel consumption to rise due to govt programmes, schemes: Steel Minister")
Union Cabinet approves offering of coal via common e-auction window
The approval was given during a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi
 "Union Cabinet approves offering of coal via common e-auction window")
Closely monitoring energy markets and potential supply disruptions: Govt
India stands ready to take appropriate action for ensuring ongoing supplies at stable prices, says ministry of petroleum
 "Closely monitoring energy markets and potential supply disruptions: Govt")
Cabinet allows up to 20% FDI in IPO-bound LIC under automatic route
The existing FDI policy did not prescribe any specific provision for foreign investment in LIC, which is a statutory corporation established under LIC Act, 1956
 "Cabinet allows up to 20% FDI in IPO-bound LIC under automatic route")
Cabinet allows up to 20% FDI in IPO-bound LIC under automatic route: Report
The initial public offering of over 316 million shares or 5% government stake is likely to hit D-street in March
 "Cabinet allows up to 20% FDI in IPO-bound LIC under automatic route: Report")
Ukraine crisis: Russia-India defence sales face looming sanctions
Given the outrage in western capital cities over Russia's invasion of Ukraine, any waiver to India over the S-400 appears highly unlikely
 "Ukraine crisis: Russia-India defence sales face looming sanctions")
Gencos to face penalty for having low coal stock, says govt
Power Ministry notifies new coal stocking norms, gencos to follow month-wise threshold
 "Gencos to face penalty for having low coal stock, says govt")
Threat to global peace a challenge for economic revival: FM Sitharaman
The FM said that focus is on expanding physical as well as digital infrastructure so that jobs and opportunities can be created for India's youth
 "Threat to global peace a challenge for economic revival: FM Sitharaman")
Bilateral payments with Russia unlikely to be impacted amid sanctions
Russia is one of biggest suppliers of defence products and equipment to India, mostly under government-to-government contracts
 "Bilateral payments with Russia unlikely to be impacted amid sanctions")
Mandaviya urges bulk drug manufacturers to invest more in research
The chemicals and fertilizers minister, who also holds the health portfolio, praised the industry players for playing a pivotal role during Covid times, not only domestically but also globally
 "Mandaviya urges bulk drug manufacturers to invest more in research")
Russia accounted for half of India's arms imports during 2016-20
Although India's reliance on Russia has been declining, Russia still accounts for most of India's arms imports
 "Russia accounted for half of India's arms imports during 2016-20")
Petrol, diesel prices lagging by Rs 6-8 a litre in absence of hikes: Report
The agency said a cut in the excise duties to the pre-pandemic levels before the start of the new fiscal year on April 1 will entail a cost of up to Rs 92,000 crore to the exchequer
 "Petrol, diesel prices lagging by Rs 6-8 a litre in absence of hikes: Report")
Russia-Ukraine crisis: Rupee rebounds as risk sentiments improve
The rupee has been one of the worst performing Asian currencies in 2022
 "Russia-Ukraine crisis: Rupee rebounds as risk sentiments improve")
Russia, Ukraine conflict may hit Indian economy badly, says CAIT
The Confederation of All India Traders (CAIT) said the impact will jeopardise efforts to recover the domestic trade from the Covid-19 pandemic
 "Russia, Ukraine conflict may hit Indian economy badly, says CAIT")
Russia-Ukraine crisis: Consumer durables firms in wait-and-watch mode
Freight costs had only recently started to stabilise, which were on the rise during the pandemic.
 "Russia-Ukraine crisis: Consumer durables firms in wait-and-watch mode")
Rising oil can burn Rs 1-trillion hole in govt coffers in FY23: SBI report
Based on the existing value-added tax (VAT) structure and taking Brent crude price of $100 - $110 per barrel, SBI believes diesel and petrol prices should have been higher by Rs 9-14 each by now
 "Rising oil can burn Rs 1-trillion hole in govt coffers in FY23: SBI report")
Ukraine crisis might push edible oil rates up; wheat exports could gain
Reports said Lebanon, which imports 60% wheat from Ukraine has started talks with India after the crisis
 "Ukraine crisis might push edible oil rates up; wheat exports could gain")
FDI equity inflows dip 16% during Apr-Dec 2021 to $43.17 bn: Data
FDI equity inflows into India contracted by 16 per cent to $43.17 billion during the April-December 2021 period, according to data
 "FDI equity inflows dip 16% during Apr-Dec 2021 to $43.17 bn: Data")