Page 1424 - Economy & Policy News

India's once-in-a-century budget runs into trouble as virus strikes back

The budget aimed to revive Asia's third-largest economy via investing in infrastructure and health care, while relying on an aggressive privatisation strategy and robust tax collections

Tamil Nadu allows Chinese Covid vaccine makers to bid unlike Mumbai

Tamil Nadu government's global tender for 3.5 crore doses of Covid-19 vaccine does not restrict Chinese vaccine makers from bidding

Hotel industry says it lost Rs 1.3 trillion revenue in FY21, seeks help

The Indian hotel industry has taken a hit of over Rs 1.3 trillion in revenue for the fiscal year 20-21 due to the the Covid pandemic, the Federation of Hotel & Restaurant Associations of India said

Ahead of kharif sowing season, govt allows free import of 3 types of pulses

Move aimed at controlling the spiralling prices of pulses; all consignments have to come by Nov 30, before the new local crops arrive

Power consumption grows nearly 19% in 1st fortnight of May: Govt data

This indicates recovery in industrial and commercial demand of electricity

GST Council to meet on May 28, compensation shortfall on agenda

As Covid second wave ravages the country, several states had urged Sitharaman to convene a GST Council meeting at the earliest

Covid resurgence to cause short-term disruption in credit off take: Report

HDFC Securities pointed out that industrial credit growth remained muted although registering positive YoY growth for the first time since September.

Covid second wave pushes India's pharma industry growth to 59% in April

The fresh wave of Covid-19 in the country has pushed up sales of medicines and resulted in exponential growth for the pharmaceutical sector

Foreign trade sector recovering in balanced manner, says Commerce Secretary

Commerce Secretary Anup Wadhawan on Friday informed that the foreign trade sector is recovering in a balanced manner

India's Covid crisis hits work at ports as risk to global trade grows

The situation may echo global trade disruptions seen last year after virus restrictions slowed shipments into China

PM releases over Rs 20K cr under PM-KISAN; benefits reach Bengal farmers

Over 95 million farmers across the country received Rs 20,000 crore in the 8th instalment of PM-KISAN scheme

Mauritius rejigs special purpose fund regime to gain 'financial' edge

Will enable global investors to set up tax-exempt entities

Monsoon to make early arrival over Kerala, likely to be on May 31: IMD

The southwest monsoon is likely to arrive over Kerala on May 31, a day earlier than its normal onset date, the India Meteorological Department (IMD) said on Friday.

SBI eyes over Rs 10K-crore credit pipeline for health infrastructure

Ashwani Bhatia, managing director, SBI, said the bank had held discussions with firms that needed funds for building hospital infrastructure

Covid to act as speed-breaker, but won't derail economy, say experts

Some improvement likely when enough people are vaccinated in the later part of the year

Insurers see huge spike in Covid-19 claims as second wave sweeps India

In absolute numbers, over 83 per cent of claims have been settled, while in value terms, just 51.38 per cent of claims have been closed

Exports grew 93% to $51.79 billion in April on low base of last year

Services exports are estimated to have grown 28.68 per cent YoY to $21.17 billion in April

Centre eases public procurement rules for supplies related to coronavirus

The government on Friday said it has temporarily done away with the mandatory local content requirement norms for public procurement of COVID supplies.

Hopeful for early decision on TRIPS waiver proposal at WTO: Comm Secy

India on Friday expressed hope for an early decision in the WTO on a proposal of India and South Africa for a temporary waiver of certain intellectual property rights provisions in the TRIPS agreement

Bharat Biotech setting up Covaxin-manufacturing unit in K'taka: Deputy CM

Karnataka will soon have a Covaxin-manufacturing plant of Bharat Biotech in Kolar district near, says Deputy Chief Minister of the State Dr C N Ashwath Narayan