Page 1427 - Economy & Policy News

Govt likely to drop plan to decriminalise cheque bounce offences

It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call

Low premiums make firms wary of Covid-19 pandemic covers, say experts

Since their launch in July last year, these covers have generated strong sales, which started slowing towards the end of FY21

Mobile phone production down 50% amid a relentless second Covid-19 wave

Slowdown visible since late February, says IDC

4% more households demand work under MGNREGA in April, shows data

The April work demand was much higher than the same month last year when the figure was 13.4 million

Moody's cuts India's FY22 GDP forecast to 9.3%; rules out rating upgrade

Owing to Covid pandemic, rating agency sees India's general govt deficit at 11.8% of GDP in FY22 as against previous forecast of 10.8%

I-T dept goes after hospitals taking cash payment to treat Covid patients

Response from Minister of State for Finance Anurag Thakur and I-T department is carried at the end of the story

Ambitious target of $400 bn exports can be achieved this year: Goyal

A sharp rise in exports in April is giving a hope that the ambitious target of $400 bn merchandise shipments can be achieved this year, says Commerce and Industry Minister Piyush Goyal

Mining, construction equipment industry may grow by 15-20% in 2021: ICRA

ICRA said the mining and construction equipment industry is likely to grow by 15-20 per cent in the calendar year 2021

Moody's revises its outlook for airlines to positive on Covid vaccination

Moody's Investors Service revised its outlook for the global airlines industry to positive from negative, reflecting that industry fundamentals will materially improve over the next 12 to 18 months

Nomura cuts FY22 GDP growth estimate to 10.8% due to Covid lockdowns

Japanese brokerage Nomura cut its GDP growth estimate for the current 2021-22 fiscal to 10.8 per cent from the earlier 12.6 per cent, blaming the impact of the second wave-induced lockdowns

Benign food prices likely dragged April inflation to three-month low: Poll

Consumer price inflation was predicted to cool to 4.20 per cent in April, just above the RBI's 4 per cent mid-point target and down from March's four-month high of 5.52 per cent

Opec sticks to 2021 oil demand growth forecast despite Indian Covid crisis

The Organization of the Petroleum Exporting Countries expected demand to rise by 5.95 million barrels per day (bpd) this year, or 6.6%, its forecast unchanged from last month.

India might see 'serious livelihood crisis', says economist Jean Dreze

India might be heading towards a 'serious livelihood crisis' as the situation seems to be worse this time for the working class amid the COVID crisis, says economist Jean Dreze

Public procurement of goods, services touches Rs 6,894 cr on GeM in Apri

Public procurement of goods and services touched Rs 6,894 crore on government buying portal GeM in April alone on account of steps taken by the platform such as rapid onboarding of buyers

Govt ready for another cut in import duty on steel to tame prices

The government has proposed to slash import duties on steel items further bringing it to zero or near-zero levels to provide relief to MSMEs

Second Covid wave hit smartphone market back in March when curbs were few

Shipments declined 14% QoQ in Jan-Mar, as per IDC data

India contracts for 5.6 mn tonne sugar export in 2020-21 marketing season

India has contracted to export 56 lakh tonne sugar so far in the ongoing 2020-21 marketing season, and is expected to conclude deals for shipment of the rest 4,00,000 tonne soon, says trade body AISTA

Lockdowns drag down vehicle registration to 9-month low in April: FADA

Development derails the recovery that had begun in June 2020

Tens of millions on the fringes sink into poverty as Covid wrecks India

The government estimates India's gross domestic product shrank 8 per cent in the year ended March, its biggest contraction since 1952

Relief to only postpone financial stress from India's Covid surge: Fitch

There are growing indications that India's latest wave of Covid-19 infections will add to risks among financial institutions by sapping near-term momentum from the economic recovery