Page 1145 - Economy & Policy News

RBI's MPC likely to leave policy rates unchanged till April: Report

The key repo rate has been at 4 per cent since May 2020, an all-time low, even though bond yields have been heading north for many months now

Govt will wait for more suitors to sell BPCL, says DIPAM Secretary

So far three suitors -- the Vedanta group, Apollo Global Management Inc. and I Squared Capital Advisors -- have expressed interest in buying the government's 53% stake in BPCL.

RBI's Digital Rupee will help curb black money menace: Official

'If you buy something from a shopkeeper and pay through digital money and that digital money is used to pay to his vender by shopkeeper, RBI will have all the data,' a finance ministry official said

Export subsidies not yielded results; still India's exports on track: Goyal

While there is a thinking that the government has reduced the export subsidies, the Goyal said the reality is this year, India is going to see a 'record performance in exports'

Budget 2022-23 'thoughtful' policy agenda for India: IMF MD Georgieva

The Union budget puts a great deal of emphasis on innovation in research and development on human capital investment and digitalisatio, Managing Director of IMF Kristalina Georgieva has said.

Ethanol blending likely to reach 11% in 2020-21 season, says ISMA

This will be a big jump from 8.1 per cent blending seen in last season

India in talks on multi-year fertiliser import deal with Russia: Report

India is a top importer of urea and other soil nutrients needed to feed its huge agriculture sector, which employs about 60% of the country's workforce and accounts for 15% of $2.7 trillion economy

Govt appoints former civil servant Ravi Mittal as IBBI chairperson

The government has appointed former civil servant Ravi Mittal as the chairperson of the Insolvency and Bankruptcy Board of India (IBBI), according to sources.

Omicron spread: Services PMI falls to six-month low in January

India's services sector activity moderated to a six-month low in January, amid imposition of restrictions across the country due to the Omicron variant as well as inflationary pressures

Finance Ministry's real FY23 GDP forecast lower than in Economic Survey

The last time India's real GDP was at 8 per cent-plus was in 2015-16 (8 per cent) and 2016-17 (8.3%)

Railways aims to top pre-Covid traffic, ferry 8.6 bn passengers in FY23

The Railways was facing criticism for higher fares being charged during the pandemic

From 130 to 70, centrally sponsored schemes down by almost 50%

States have been asking for more flexibility in implementing the schemes while reducing their proliferation

Budget 2022-23: Directors may face tax recovery heat, say experts

The proposal in the Finance Bill to amend provisions of Section 179 of the Income Tax (I-T) Act from April 1, 2022, could increase risks for directors of medium and small-sized firms, said experts.

Business confidence buoyant in Q3 FY22, says economic think-tank NCAER

The business confidence has remained buoyant in the third quarter of the current financial year, said economic think-tank NCAER.

National Portal to assist households to set up solar systems on their roofs

The portal would be a one-stop destination for residential consumers to register, install or hire a vendor to install a rooftop solar power system (RTS)

16,798-km national highways under PPP; 331 fee plazas operational now

A total length of 16,798.61 kilometres of national highways is under the public-private partnership (PPP) arrangement and 331 fee plazas are operational as of now, Parliament was informed on Thursday.

Cryptocurrency will never be a legal tender: Finance secy Somanathan

Cryptocurrency will never be a legal tender, Finance Secretary T V Somanathan said on Thursday clearing the air on the legality of private digital currencies in the market.

9% ethanol blending in petrol achieved; 20% target by 2025: Hardeep Puri

India has achieved 9 per cent ethanol blending in petrol and is confident of meeting the 20 per cent target by 2025, Oil Minister Hardeep Singh Puri said on Thursday.

More can be allocated for Covid vaccination as policy evolves: Fin Secy

The government has earmarked Rs 5,000 crore in the next fiscal just for Covid vaccination of 15-17-year-age group and precautionary dose for senior citizens, Finance Secretary T V Somanathan said

After cryptocurrencies, money laundering via NFTs next big worry

After serious concerns were raised on cryptocurrencies and their misuse for money laundering and hawala-based transactions by terror groups and criminals