Page 1277 - Economy & Policy News
Domestic gas price hiked to $2.9 per mBtu, ceiling raised to $6.3 per mBtu
These prices have almost doubled from the price determined by the government for the April 2021 to September 2021 period
 "Domestic gas price hiked to $2.9 per mBtu, ceiling raised to $6.3 per mBtu")
India current account surplus at 0.9% in Q1FY22 after previous qtr deficit
Low fuel demand, higher NRI remittances drive surplus
 "India current account surplus at 0.9% in Q1FY22 after previous qtr deficit")
Govt's fiscal deficit at 31.1% of Budget Estimate till Aug, an 18-year low
This was despite a YoY spike in expenditure that month, after falling in the previous month
 "Govt's fiscal deficit at 31.1% of Budget Estimate till Aug, an 18-year low")
Govt seeks to empanel merchant bankers, legal advisors for share sales
Appointment will be for two years, extendable for one year; contenders can quote a fee as low as Re 1, must submit bids by October 20
 "Govt seeks to empanel merchant bankers, legal advisors for share sales")
Hotels see green shoots of recovery as the fear of the pandemic recedes
But recovery in average daily rates remains some distance away
 "Hotels see green shoots of recovery as the fear of the pandemic recedes")
US bond tapering impact may hurt India, Indonesia less than other nations
Bonds from the two countries are already leading gains in emerging Asia this quarter, offering 3%-5% returns to dollar-based investors
 "US bond tapering impact may hurt India, Indonesia less than other nations")
India, Australia aim to finalise trade pact by end of next year
Early harvest pact will be signed by Christmas
 "India, Australia aim to finalise trade pact by end of next year")
Eight core sectors' output accelerates to 11.6% in August: Govt data
The core sector in August this year recorded a 3.9 per cent rise from the pre-covid August 2019 too
 "Eight core sectors' output accelerates to 11.6% in August: Govt data")
Home sales more than double in Q3CY21 on robust hiring, pay hike in IT/ITES
Mumbai Metropolitan Region or MMR accounted for 33 per cent of the total sales, followed by NCR with a 16 per cent share, Anarock said
 "Home sales more than double in Q3CY21 on robust hiring, pay hike in IT/ITES")
India, Australia agree to conclude free trade agreement by 2022-end
India and Australia on Thursday agreed to conclude the long-pending free trade agreement by the end of 2022 and an early harvest trade deal by as early as December
 "India, Australia agree to conclude free trade agreement by 2022-end")
India's external debt at $571.3 bn at June-end, up $1.6 bn from March: RBI
India's external debt stood at $571.3 billion at end-June, recording an increase of $1.6 billion over its level at the end of March 2021, the RBI said on Thursday
 "India's external debt at $571.3 bn at June-end, up $1.6 bn from March: RBI")
Non-food bank credit grows 6.7% in August, shows Reserve Bank data
The non-food bank credit grew by 6.7 per cent in August 2021 as compared to 5.5 per cent in the year-ago month, RBI data showed
 "Non-food bank credit grows 6.7% in August, shows Reserve Bank data")
Credit delivery to large section of society very important for growth: CEA
Credit penetration or providing credit to a large section of society is very important for economic development of the country, Chief Economic Adviser (CEA) K V Subramanian said on Thursday
 "Credit delivery to large section of society very important for growth: CEA")
Govt directs agri-machine makers, dealers to sell at same price: MoS agri
Farm machine makers and dealers have been directed to sell their products at the same price across the country, Union Minister of State for Agriculture Shobha Karandlaje said on Thursday.
 "Govt directs agri-machine makers, dealers to sell at same price: MoS agri")
Top headlines: NCLT gives Zee Oct 3 deadline; Ola Electric raises $200 mn
Business Standard brings you the top stories from today
 "Top headlines: NCLT gives Zee Oct 3 deadline; Ola Electric raises $200 mn")
India set for stronger performance going forward, says KV Kamath
The country's economy is set for a stronger performance going forward, driven by growth in large corporates, agriculture and most importantly digital startup sector, veteran banker KV Kamath said
 "India set for stronger performance going forward, says KV Kamath")
Need to make sure benefit of economic growth is evenly shared: D Subbarao
Former RBI Governor D Subbarao stressed the need to accelerate economic growth rate and make sure this benefit of growth is shared, even as he said unemployment has taken a form of crisis
 "Need to make sure benefit of economic growth is evenly shared: D Subbarao")
Delhi announces new power tariff, rates unchanged but bill may go up
Power regulator DERC Thursday announced new tariff for Delhi but did not raise the rates, saying it did not see any "good reasons" to do so
 "Delhi announces new power tariff, rates unchanged but bill may go up")
Hotel industry likely to clock 45-50% of pre-Covid revenues in FY22: Report
Demand has recovered sharply post the second wave of the pandemic aided by easing of restrictions during the July-September period, according to a report.
 "Hotel industry likely to clock 45-50% of pre-Covid revenues in FY22: Report")
Telecom reforms to allow Vi to invest in new tech including 5G: Kapania
The telecom reforms announced by government recently will enable Vodafone Idea (Vi) to invest in new technology and services, including 5G, the company's Non-Executive Chairman Himanshu Kapania said
 "Telecom reforms to allow Vi to invest in new tech including 5G: Kapania")