Page 1438 - Economy & Policy News

Most Indian companies protected against weakening rupee: Moody's report

Firms' costs in dollar terms might rise as India battles second wave of Covid-19, says agency.

T V Somanathan named finance secy in place of Ajay Bhushan Pandey

Pandey superannuated in February this year

Govt looking to monetise possible IT parks, SEZs developed on PSU land

Developing long-term, revenue-generating resources by using such idle assets will help create more value than by disposing them of at low valuations

Cabinet approves India-UK deal on information sharing, Customs cooperation

The draft text of the proposed agreement has been finalised with the concurrence of the two Customs administrations.

Single-window clearance mechanism for foreign investors hits a bump

Manpower crunch because of Covid, only 8 states put in place the requisite infra

Bombay HC stays investigation under FIR against Indiabulls Housing

Says charges malafide, casts doubts on bonafide of complainant

Second Covid-19 wave heightens downside risks to India's GDP, says S&P

The country is already facing a permanent loss of output versus its pre-pandemic path, suggesting a long-term production deficit equivalent to about 10% of GDP

IHS Markit sees India's FY22 GDP growth at 9.6% amid rising Covid cases

Those at Nomura, too, expect the pain in the economy to grow given the recent measures to curb the pandemic. However, they believe that the overall impact will be muted and be for the short-term

National Electricity Policy-21 bats for quality power, private investment

This year's draft NEP like its earlier versions underlines importance of coal-based power and why it is still too early to retire it despite growth in renewables

Air India, BPCL sale may be delayed but will get completed by FY22

Govt expects no change in disinvestment proceeds

Inflation remains a big worry ahead as country reels under Covid shock

Massive Urban spike foreseen, food price volatility may worsen as monsoon approaches; decade high wholesale inflation may put further pressure, but favourable base effect may have tempering effect

Competition Commission paper on blockchain tech spells regulatory risk

In case of permission-less blockchains, network participants may be anonymous or pseudonymous - their identities are not known fully - the CCI discussion paper notes

Why MSMEs need help again and why the govt's earlier approach may not work?

While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide

Covid-led record defaults cloud India's resilient equities, bonds

Firms have defaulted on at least Rs 5,700 cr of domestic bonds this year, while Sensex hit 3-week high amid optimism on US vaccine support

Petrol and diesel prices remain unchanged; revisions expected next month

Oil marketing companies decided to wait for state elections to get over before restarting daily revision of petrol and diesel prices in line with price movement globally

'Unprecedented move': Politicians vow to pay India's women for housework

Ruling coalition, Opposition in Tamil Nadu and Kerala promise monthly income support to homemakers; Mamata Banerjee says she will give monthly income support to female heads of 16 million households.

India's second Covid-19 wave may impede economic recovery, says S&P

Credit rating agency S&P Global said on Wednesday the second wave of Covid-19 infections in India could impede the country's economic recovery and expose other nations to further waves of outbreaks

India's GDP to grow at 11% this fiscal, economic recovery at risk: ADB

The Indian economy is projected to grow at 11 per cent in the current financial year amid the "strong" vaccine drive, said ADB on Wednesday

NBFCs seek fresh debt recast as Covid-19 second wave wreaks havoc

Those who had availed themselves of the recast earlier should get a second chance, the Finance Industry Development Council said in a letter to the RBI

MSMEs urge FM Nirmala Sitharaman to review NPA classification norms

In its suggestions to the finance ministry, the Federation of Indian Micro, Small and Medium Enterprises has said the greatest need that has emerged is the flexibility in assigning NPAs