Page 1408 - Economy & Policy News
CEA K V Subramanian expects green shoots ahead of festive season
The economic activity can come back once the pandemic related strictures are removed, Covid-appropriate behaviour becomes a part of life and the pace of vaccination accelerates
 "CEA K V Subramanian expects green shoots ahead of festive season")
Bank of Baroda may repatriate some capital from overseas business
The surge in liquidity - following additional infusion by central banks to fight the Covid-19 pandemic - has pushed down interest rates across the globe
 "Bank of Baroda may repatriate some capital from overseas business")
Expect over 9.5% GDP growth in FY22: Axis Bank's chief economist
Vaccination holds the key on the growth front going ahead, he said, warning that if the inoculations fall short, it can shave off 1 percentage point from the GDP growth estimate
 "Expect over 9.5% GDP growth in FY22: Axis Bank's chief economist")
RBI monetary policy: Bond market expects minimum Rs 1 trn of G-SAP in Q2
Expects minimum Rs 1 trn of G-SAP in 2nd quarter, sees it rising to Rs 1.25 trn to keep yields soft
 "RBI monetary policy: Bond market expects minimum Rs 1 trn of G-SAP in Q2")
PLI: DoT sets norms for Rs 12,195-cr telecom gear manufacturing scheme
The registration process for the scheme will begin on Friday and remain open for 30 days till July 3
 "PLI: DoT sets norms for Rs 12,195-cr telecom gear manufacturing scheme")
Domestic air passenger traffic nosedives to 1.92 million in May: Report
For May 2021, the average daily departures were around 900, significantly lower than around 2,000 in April 2021.
 "Domestic air passenger traffic nosedives to 1.92 million in May: Report")
PSBs sanction 95% of all loans under PM SVANidhi scheme for street vendors
Scheme provides working capital up to Rs 10,000 repayable in a year to hawkers, who get 7% interest subsidy from govt; banks get graded guarantee cover
 "PSBs sanction 95% of all loans under PM SVANidhi scheme for street vendors")
Onus of recovery on govt; expect over 9.5% growth in FY22: Economist
Axis Bank's chief economist Saugata Bhattacharya said that he is sceptical if the government will be able to inoculate over 40 per cent of the population with both doses by September or October.
 "Onus of recovery on govt; expect over 9.5% growth in FY22: Economist")
Resumption of FTA talks with EU, fresh negotiations with UK soon: Official
India is also taking forward negotiations with various other countries, including Israel.
 "Resumption of FTA talks with EU, fresh negotiations with UK soon: Official")
Second wave dents rural economy leading to knock-on effect on recovery
With several state governments announcing local and state-wide lockdowns, economic impact would not only dent rural households' fragile financial health, but rural consumption is also decreasing
 "Second wave dents rural economy leading to knock-on effect on recovery")
Kerala retains top rank in NITI Aayog's SDG Index, Bihar worst performer
Kerala has retained the top rank in NITI Aayog's SDG India Index 2020-21, while Bihar has been adjudged as the worst performer
 "Kerala retains top rank in NITI Aayog's SDG Index, Bihar worst performer")
May Services PMI shrinks to 46.4 vs 54 in April; lowest level since Aug
Overall demand contracted at the sharpest rate since August, with foreign demand shrinking at the fastest pace since November
 "May Services PMI shrinks to 46.4 vs 54 in April; lowest level since Aug")
Sebi gives foreign investors more time to furnish contact, income details
The regulator is also meeting custodians this week to thrash out a solution and address investors' concerns
 "Sebi gives foreign investors more time to furnish contact, income details")
Growth forecast, rates: 5 key things to look for in RBI monetary policy
Monetary Policy Committee expected to hold rates and continue with an accommodative stance to encourage growth
 "Growth forecast, rates: 5 key things to look for in RBI monetary policy")
Google tax: US imposes tariffs on India, but with six-month delay
Following the consultation, the USTR has decided to impose a tariff of up to 25 per cent ad valorem on aggregate level of trade on a slew of Indian products
 "Google tax: US imposes tariffs on India, but with six-month delay")
Govt brings forward by two years 20% ethanol blend to gasoline
The government will bring forward to 2023 from 2025 the possibility of fuel companies selling gasoline containing up to 20% of ethanol (E20)
 "Govt brings forward by two years 20% ethanol blend to gasoline")
Enforcement Directorate steps up drive to check Covid-linked corruption
The Enforcement Directorate (ED) has directed officials to consider cases of crime related to Covid-19 as predicate offence
 "Enforcement Directorate steps up drive to check Covid-linked corruption")
Digital tax row: US suspends additional tariffs on India, 5 other countries
USTR Katherine Tai, in a statement, announced the conclusion of the one-year Section 301 investigations of Digital Service Taxes (DSTs) adopted by Austria, India, Italy, Spain, Turkey and the UK
Second wave of Covid-19: Rising death claims keep insurers on tenterhooks
Most life insurance companies have set aside provisions for such claims, over and above what they had set aside during the first wave.
 "Second wave of Covid-19: Rising death claims keep insurers on tenterhooks")
Cabinet secy-led panel wants PLI scheme revamp to boost manufacturing
Suggests institutional mechanism, regular hand-holding for firms
 "Cabinet secy-led panel wants PLI scheme revamp to boost manufacturing")