Page 1196 - Economy & Policy News
States owned about Rs 4,750 cr as PMFBY premium subsidy dues till Rabi 2021
Delay on the part of states in releasing their share of premium subsidy under PMFBY has been a key reason for the delay in claim settlement over the years, the Centre informed Parliament
 "States owned about Rs 4,750 cr as PMFBY premium subsidy dues till Rabi 2021")
Industry players hail thrust on chip, display manufacturing in India
India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo said this is a profound decision
 "Industry players hail thrust on chip, display manufacturing in India")
Top headlines: Rs 76k-cr scheme for semiconductors; RBI penalty on 2 banks
Business Standard brings you the top stories on Wednesday
 "Top headlines: Rs 76k-cr scheme for semiconductors; RBI penalty on 2 banks")
Total length of national highways up at 140,937 km till Nov-end: Gadkari
The minister said 49 projects in about 4,970 km costing about Rs 113,000 crore are in various stages of progress and are targeted for completion by 2023-24
 "Total length of national highways up at 140,937 km till Nov-end: Gadkari")
Govt approves implementation of PMKSY for 2021-26 to benefit 2.2 mn farmers
The scheme has a provision to fund 90% of water component for Renukaji and Lahkwar dams, which would eventually improve water supply to Delhi
 "Govt approves implementation of PMKSY for 2021-26 to benefit 2.2 mn farmers")
ICRA cuts growth forecast for passenger vehicle industry to 8-11% for FY22
For the two-wheeler segment, it said the volumes are expected to contract by 1-4 per cent in FY2022 against an earlier prediction of 6-8 per cent growth
 "ICRA cuts growth forecast for passenger vehicle industry to 8-11% for FY22")
India's GDP to grow 8.2% in FY23, RBI to hike rates by 100 bps: BofA
The low vaccination rates and the emergence of the Omicron variant were flagged as factors by the brokerage that are creating 'considerable uncertainty' for India's growth
 "India's GDP to grow 8.2% in FY23, RBI to hike rates by 100 bps: BofA")
Govt may not introduce cryptocurrency bill in ongoing Parliament session
Amid calls for more debate, Parliament's Winter Session, ending on December 23, is unlikely to take up the widely watched legislation.
 "Govt may not introduce cryptocurrency bill in ongoing Parliament session")
OMCs keep fuel prices unchanged across major Indian cities on Wednesday
The diesel and petrol rates in Delhi stood at Rs 86.67 per litre and Rs 95.41 per litre, respectively.
 "OMCs keep fuel prices unchanged across major Indian cities on Wednesday")
WTO panel tells India to comply with trade rules on sugar
In the cases brought before the WTO in 2019, the rival producers alleged that India had broken WTO rules by providing excessive domestic support and export subsidies for sugar and sugarcane
 "WTO panel tells India to comply with trade rules on sugar")
BS Awards: Be agile, adapt, says India Inc as change becomes a constant
The India Inc leaders, winners of the Business Standard Awards: Celebrating Excellence, were speaking at the 22nd edition of the awards held online
 "BS Awards: Be agile, adapt, says India Inc as change becomes a constant")
India loses WTO dispute over sugar subsidies; set to file an appeal
In its response to WTO members over the concerns, India said the support given was largely to small and marginal farmers and was in accordance with its commitments at the trade body
WPI inflation hits record high of 14.23%, raises retail inflation fears
This is the highest WPI rate in 2011-12 series with WPI inflation remaining in double digits for 8th month in a row
 "WPI inflation hits record high of 14.23%, raises retail inflation fears")
EPFO invested Rs 2,500 cr in Reliance Capital's bonds: FinMin
Last month, the Reserve Bank had superseded Reliance Capital's board, citing defaults and governance issues
 "EPFO invested Rs 2,500 cr in Reliance Capital's bonds: FinMin")
No estimation of black money in foreign accounts in last 5 years: Govt
Bringing back black money stashed abroad was one of the key poll planks of the current government led by BJP, which assumed power in May 2014
 "No estimation of black money in foreign accounts in last 5 years: Govt")
Exports rise 27.16% to $30.04 bn in Nov; trade deficit at $22.91 bn
India's merchandise exports jumped 27.16 per cent to USD 30.04 billion in November on the back of good performance by sectors like petroleum products, engineering goods and electronic items
 "Exports rise 27.16% to $30.04 bn in Nov; trade deficit at $22.91 bn")
Cryptos 'may figure' on RBI central board meet agenda on December 17
It is not unusual for the RBI board to deliberate on matters not listed on the agenda
 "Cryptos 'may figure' on RBI central board meet agenda on December 17")
BS Awards: Debroy bats for GST Council-like body for expenditure reforms
He said the State Finance Commission's recommendations were not given much attention even as two-thirds of the public expenditure occurred at the state level
 "BS Awards: Debroy bats for GST Council-like body for expenditure reforms")
PM says zero budget natural farming should become mass movement
Zero budget natural farming reduces the cost of agriculture by relying on traditional field-based technologies which lead to improved soil health
 "PM says zero budget natural farming should become mass movement")
Net income tax mop-up in FY22 at Rs 7.4 trn, Rajya Sabha informed
Budget makers are confident that the net tax collection's budgeted target (direct plus indirect) of Rs 15.45 trillion will be exceeded
 "Net income tax mop-up in FY22 at Rs 7.4 trn, Rajya Sabha informed")