Page 1428 - Economy & Policy News

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

FY22 growth may slip to 8.2% if second wave peak comes in end-June: Crisil

India's economic growth may slip to 8.2% if the second wave peaks at end of June, domestic rating agency Crisil warned on Monday, maintaining its baseline estimate of an 11% uptick in activity

Notify Covid-19 vaccines as zero-rated supply under GST, say experts

Tax waiver on entire Covid-related supply chain could prevent a rise in price

Universalising PDS feasible, badly needed in India: Right to Food Campaign

Says at present only 57% population is covered under PDS, while 67% has legal entitlement to subsidised grains under NFSA

States lift 39% of 3.96 mn tonnes grains under PMGKAY-3 in first 10 days

But they have distributed less than three per cent so far, data provided by the food ministry showed

Carry positions can hurt exchange rate and cause inflation, says SBI

This is particularly important for the Reserve Bank of India (RBI) as it works under an inflation-targeting regime

Growing protectionism to make FTA with European Union tough, say experts

Experts said reducing tariffs and negotiations could be complex as the markets have changed over the past few years.

Domestic steel players poised for strong deleveraging plans as prices surge

With profitability at record levels, even if steel prices correct by 15-20% going ahead, players would still be in a comfortable position to deleverage, says an analyst

Recovery tracker: Workplace visits at May 2020 lows, power generation down

Other indicators too weighed down by surge in Covid-19 cases

Navy warships and Indian Air Force aircraft bring in Covid-19 medicines

Oxygen shipped in from France, Singapore

Indian consumer shifting to digital financial services: Rajiv Kumar

India is seeing an increasing digitization of financial services, with consumers shifting from cash to cards, wallets, apps, and UPI, Niti Aayog Vice-Chairman Rajiv Kumar said on Monday

Govt rules out possibility of free foodgrains to migrants this time

The government on Monday ruled out the possibility of free foodgrains distribution to migrants saying there is no panic situation and no complete national lockdown unlike last year.

Covid effect: 1,952 employees dead, 1,000 infected daily, says Railways

As many as 1,952 employees of the Indian Railways have succumbed to coronavirus so far and around 1,000 are getting infected on a daily basis, a senior official said on Monday.

Govt expects edible oil prices to cool off with release of imported stock

The Centre on Monday expressed hope that retail prices of edible oils would soften following the release of imported stock that was stuck at ports due to clearance issues.

India's sugar exports on good course; contracts over 50 lakh tonnes so far

India's sugar exports are on a "good course" this year as traders have contracted over 50 lakh tonnes of the sweetener so far, Food Secretary Sudhanshu Pandey said on Monday.