Page 1456 - Economy & Policy News
India likely to hold bilateral talks with US over retaliatory tariffs
Govt assessing potential impact of US decision to raise levies on 40 items
 "India likely to hold bilateral talks with US over retaliatory tariffs")
India, Netherlands have similar approach on climate change, terrorism: Modi
Prime Minister Narendra Modi Friday said there have been similarities of approach between India and the Netherlands in dealing with global challenges like climate change, terrorism and pandemics.
 "India, Netherlands have similar approach on climate change, terrorism: Modi")
India's foreign exchange reserves drop by $2.4 billion to $576.8 billion
The country's foreign exchange reserves declined by USD 2.415 billion to stand at USD 576.869 billion in the week ended April 2, RBI data showed on Friday.
 "India's foreign exchange reserves drop by $2.4 billion to $576.8 billion")
Piyush Goyal to push WTO DG for TRIPS waiver on Covid-19 vaccine
A waiver on certain provisions of the agreement is expected to help more countries, especially middle- and low-income nations to access vaccines
 "Piyush Goyal to push WTO DG for TRIPS waiver on Covid-19 vaccine")
FM reviews Covid-19 vaccine progress in finance, corp affairs ministries
In keeping with Covid-19 safety protocols, the interactions were held virtually in six separate batches
 "FM reviews Covid-19 vaccine progress in finance, corp affairs ministries")
FM urges World Bank to sustain crisis response to mitigate Covid-19 impact
Sitharaman informed that the government has announced Aatmanirbhar packages of Rs 27.1 lakh crore, amounting to more than 13 per cent of the GDP
 "FM urges World Bank to sustain crisis response to mitigate Covid-19 impact")
India's fuel consumption declined to a four-year low in fiscal 2020-2021
First recorded decline in overall consumption, primarily attributed to Covid-19 lockdowns
 "India's fuel consumption declined to a four-year low in fiscal 2020-2021")
DoT notice to Vodafone Idea over non-payment of licence fee for Q4
Licence fee is payable in four quarterly instalments during each financial year
 "DoT notice to Vodafone Idea over non-payment of licence fee for Q4")
India's fuel consumption shrinks 9.1% in FY21, a first in over 2 decades
India's fuel demand contracted by 9.1 per cent in the year ended March 31, the first in more than two decades, as a stringent lockdown imposed to curb the pandemic pummelled economic activity
Fitch sees Reserve Bank of India holding interest rates through FY22
Fitch Solutions sees RBI keeping benchmark interest rates unchanged during the fiscal to March 2022 following its decision to buy Rs 1 trillion of government bonds
 "Fitch sees Reserve Bank of India holding interest rates through FY22")
No plan to stop or curtail train services: Railway board chairman
"There is no cause for alarm. We can run trains immediately on demand if there is any rush," Suneet Sharma said
 "No plan to stop or curtail train services: Railway board chairman")
Net direct tax mop up exceeds revised estimates at Rs 9.45 trn in FY21
Direct tax collection target set in the revised estimates (RE) for 2020-21 was Rs 9.05 lakh crore.
 "Net direct tax mop up exceeds revised estimates at Rs 9.45 trn in FY21")
Economic activity rebounds globally even as Covid-19 cases rise: Moody's
Moody's Investors Service has said that high-frequency alternative data indicates a strong rebound in economic activity even as infection rates rise
 "Economic activity rebounds globally even as Covid-19 cases rise: Moody's")
India's retail inflation likely rose in March but stayed within target
The April 5-8 poll of more than 50 economists showed retail inflation rose to 5.40% in March from a year earlier as opposed to 5.03% in February. Forecasts ranged from 4.60% to 6.11%
 "India's retail inflation likely rose in March but stayed within target")
Privatisation of two public sector banks on meeting agenda next week
Four to five PSBs have been suggested by the Niti Aayog and they will be discussed in the meeting, sources said
 "Privatisation of two public sector banks on meeting agenda next week")
Increased fertiliser rate will not be applicable for farmers, says IFFCO
After outcry, says it will sell 1.13 mt at old rates
 "Increased fertiliser rate will not be applicable for farmers, says IFFCO")
State-run refiners prepare to buy Iran oil once US sanctions ease
India has been vocal in its support for Iranian crude purchases recently as it laments the price of supplies from Saudi Arabia.
 "State-run refiners prepare to buy Iran oil once US sanctions ease")
India's debt-to-GDP rose to 90% during Covid-19 pandemic, says IMF
In 2020, fiscal policy also contributed to mitigate falling economic activity and employment. It avoided falls on the scale of the great depression.
 "India's debt-to-GDP rose to 90% during Covid-19 pandemic, says IMF")
Climate report praises India for initiatives taken in clean energy field
Green loans were the second most popular at $109 billion
 "Climate report praises India for initiatives taken in clean energy field")
Hike in deposit limit: Payment banks likely to attract bigger clients
Industry sources said banks had made a case for increasing the limit to Rs 5 lakh in line with the hike in deposit insurance cover
 "Hike in deposit limit: Payment banks likely to attract bigger clients")