Page 1323 - Economy & Policy News
Downbeat Indian consumers withhold spending amid pandemic, says RBI survey
The latest survey came as the RBI's Monetary Policy Committee kept interest rates unchanged at a record-low
 "Downbeat Indian consumers withhold spending amid pandemic, says RBI survey")
CII calls PM Modi's target of $400 billion in export 'attainable'
Chandrajit Banerjee, the Director-General of CII said, "The PM has set an aspirational, but very much attainable target of USD 400 billion in exports for the year"
 "CII calls PM Modi's target of $400 billion in export 'attainable'")
Petrol, diesel prices unchanged for three weeks: Check details here
Despite the price of crude oil tempering, petrol and diesel are sold at record high levels across the country
 "Petrol, diesel prices unchanged for three weeks: Check details here")
RBI's inflation projections jump, growth numbers dip as recovery wobbles
While it termed current inflation as transitory, MPC also expects it to edge up to near-6% levels towards 2021-22 end, highlighting stickiness of inflation in uneven economic recovery
 "RBI's inflation projections jump, growth numbers dip as recovery wobbles")
Oil Ministry launches sixth bid round of Open Acreage Licensing Programme
Centre expects minimum work commitment of $300-400 million immediately
 "Oil Ministry launches sixth bid round of Open Acreage Licensing Programme")
PM Narendra Modi unveils strategy to boost exports
Interacting with Heads of Indian Missions abroad and stakeholders of trade and commerce virtually, Modi pointed out four factors that are very important for accelerating outward shipments from India
 "PM Narendra Modi unveils strategy to boost exports")
Lying incomplete for 46 years, Assam irrigation project to be ready by 2022
Construction of the Dhansiri Irrigation Project, billed to be the largest in Assam, will be completed by the end of this fiscal year, the Assembly was informed on Friday.
 "Lying incomplete for 46 years, Assam irrigation project to be ready by 2022")
Lok Sabha clears Bill to end retrospective tax, Congress backs move
Backing the government's move, former Union Finance Minister P Chidambaram tweeted, "I am glad that we have put an end to an issue that has been troubling us for eight years"
 "Lok Sabha clears Bill to end retrospective tax, Congress backs move")
India needs low-cost capital to fuel green energy projects: Amitabh Kant
India needs low-cost capital to help domestic entrepreneurs execute global scale projects in areas like green hydrogen, solar energy, electric vehicles and battery manufacturing, Niti Aayog CEO said
 "India needs low-cost capital to fuel green energy projects: Amitabh Kant")
Over Rs 600 crore sanctioned to build roads and bridges in Uttarakhand: CM
The Centre has sanctioned over Rs 600 crore for the construction of 42 roads and bridges in Uttarakhand, Chief Minister Pushkar Singh Dhami said on Friday.
 "Over Rs 600 crore sanctioned to build roads and bridges in Uttarakhand: CM")
Bidding of retail liquor vends in Delhi by Excise dept earns Rs 5,300 cr
The initial bidding of retail liquor vends in 20 zones across the national capital by the Delhi government's Excise department on Friday raked in Rs 5,300 crore, official sources said.
 "Bidding of retail liquor vends in Delhi by Excise dept earns Rs 5,300 cr")
Centre releases Rs 2,400 cr grant-in-aid to UP under Jal Jeevan Mission
The Jal Shakti ministry has released Rs 2,400 crore grant-in-aid to Uttar Pradesh against an allocation of Rs 10,870 crore for the financial year 2021-22 under the Jal Jeevan Mission, it said
 "Centre releases Rs 2,400 cr grant-in-aid to UP under Jal Jeevan Mission")
New environment SOPs allow closure of non-compliant projects, says govt
The government Friday said it has issued the Standard Operating Procedure (SOP) to deal with environmental violations under which non-compliant projects can be shut down or demolished
 "New environment SOPs allow closure of non-compliant projects, says govt")
Services sector expected to grow at 28% in 2021-22, says SEPC
Services Export Promotion Council (SEPC) Chairman Maneck Davar said that in the first quarter of 2021, the exports stood at $54 billion.
 "Services sector expected to grow at 28% in 2021-22, says SEPC")
RBI policy action has to be nuanced; cannot be unidirectional: RBI Guv
The Monetary Policy Committee (MPC) left the repo rate unchanged at 4 per cent while continued with the accommodative stance to revive and sustain growth on a durable basis.
 "RBI policy action has to be nuanced; cannot be unidirectional: RBI Guv")
Real estate experts hail central bank decision to hold interest rates
Abheek Barua, Chief Economist of HDFC Bank, said the RBI has continued with its line of supporting growth despite the recent spikes in inflation.
 "Real estate experts hail central bank decision to hold interest rates")
$300-400 million investment expected in latest oil, gas bid round
India is 85 per cent dependent on imports to meet its oil needs
 "$300-400 million investment expected in latest oil, gas bid round")
July hiring activity at all-time high crossing pre-Covid levels: Report
The Indian job market has witnessed sequential growth for the second month in a row: report
 "July hiring activity at all-time high crossing pre-Covid levels: Report")
India's trade deficit with China dips to $44 billion in 2020-21
Imports from China during 2018-19, 2019-20 and 2020-21 were worth $70.32 billion, $65.26 billion and $65.21 billion
 "India's trade deficit with China dips to $44 billion in 2020-21")
Kerala will not cut down on public spending, says FM Balagopal
He also warned that "we're in a time that's worse than the Great Depression, and my fear is that we may face more difficulties going forward".
 "Kerala will not cut down on public spending, says FM Balagopal")