Page 1459 - Economy & Policy News
Covid-19 defaulters can use MSME pre-packaged insolvency scheme
The detailed rules of the scheme specifying the minimum threshold of default will be notified soon
 "Covid-19 defaulters can use MSME pre-packaged insolvency scheme")
RBI boosts back-up, cuts staff attendance as Covid-19 infections surge
Banks await Centre's direction even as customers flock branches
 "RBI boosts back-up, cuts staff attendance as Covid-19 infections surge")
IMF scales up India's FY22 GDP growth forecast to 12.5%; experts unsure
The Fund's projection suggests India would again become the world's fastest-growing large economy
 "IMF scales up India's FY22 GDP growth forecast to 12.5%; experts unsure")
FM calls for greater coordination among BRICS on IMF's quota review
India on Tuesday pitched for greater coordination among BRICS nations on the issue of the 16th general review of quotas of the International Monetary Fund to give more say to developing countries.
 "FM calls for greater coordination among BRICS on IMF's quota review")
India hosts summit of BRICS Finance Ministers, central bank heads virtually
In separate meeting with Kerry, FM emphasises on increasing fund flows from developed to developing nations to battle climate change
 "India hosts summit of BRICS Finance Ministers, central bank heads virtually")
India, Russia discuss defence ties, Afghan peace process, Indo-Pacific
Russia on Tuesday promised joint production of weapons systems in India as the two countries held extensive talks covering key areas of bilateral cooperation
 "India, Russia discuss defence ties, Afghan peace process, Indo-Pacific")
Surge in opportunities for tech jobs pre and post-pandemic: Report
As India completed an year of Covid-induced curbs, a report revealed there has been a recovery in the hiring activity towards the end of March 2021 even as there were high opportunities for tech jobs
 "Surge in opportunities for tech jobs pre and post-pandemic: Report")
Cement demand FY22 could surpass 340 mn tonne; highest in a decade: Icra
Sustained rural housing demand and significant pick-up in infra activity seen as key drivers
 "Cement demand FY22 could surpass 340 mn tonne; highest in a decade: Icra")
Coronavirus second wave: UBS sees only minimal 20-30 bps hit on growth
Despite a massive spike in the pandemic caseload, UBS sees no repeat of a nationwide/statewide lockdown and expects only minimal economic impact of the wave that may lead to a 20-30 bps GDP reduction
 "Coronavirus second wave: UBS sees only minimal 20-30 bps hit on growth")
A month-long national coronavirus lockdown can dent GDP by 2%: Report
India's economic recovery is still "shallow" and a month's national lockdown to curb the rising pace of Covid-19 infections can dent the GDP by up to 2%, an American brokerage warned on Tuesday
 "A month-long national coronavirus lockdown can dent GDP by 2%: Report")
US Commerce Dept wants duty against Indian wind energy equipment makers
The recent steps are a stark reminder of the Obama era fight in the WTO between India and the US to protect their local renewable energy industries
 "US Commerce Dept wants duty against Indian wind energy equipment makers")
India to be impacted as US works on $1 bn tariff plan over digital taxes
In each of the six cases, the USTR proposes to impose tariffs that would roughly total the amount of tax revenue each country is expected to get from the U.S. companies
 "India to be impacted as US works on $1 bn tariff plan over digital taxes")
Discoms, state govts bet on storage technology to stabilise power supply
TPDDL, in 2019, joined hands with AES and Mitsubishi to set up a 10 Mw grid storage project at its Rohini sub-station
 "Discoms, state govts bet on storage technology to stabilise power supply")
Indian refiners deepen cuts to Saudi oil purchases, to buy 36% less in May
Energy relations between India, the world's third biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked
 "Indian refiners deepen cuts to Saudi oil purchases, to buy 36% less in May")
FinMin confident of combating downside risk amid rising Covid-19 cases
The ministry's Economic Affairs Department, in its monthly report, said the capital expenditure (capex) cycle was in motion, and its signs would be seen in the second half of the year
 "FinMin confident of combating downside risk amid rising Covid-19 cases")
Monetary Policy: GDP growth projections may be left unchanged amid Covid-19
It is likely to keep policy rates on hold, maintain its accommodative stance going into FY22, and sound dovish amid rising Covid-19 cases
 "Monetary Policy: GDP growth projections may be left unchanged amid Covid-19")
Consumer financier Bajaj Finance's asset under management grows 4% YoY
In Q4FY21, it booked 5.5 million new loans, down almost 9 per cent sequentially and 8 per cent YoY
 "Consumer financier Bajaj Finance's asset under management grows 4% YoY")
Maharashtra lockdown to dent FY22 GVA growth by 0.32%: CARE Ratings
With FY22 starting on a somber note and sporadic lockdowns in Maharashtra and some other states, CARE Ratings believes the overall production and consumption would be affected
 "Maharashtra lockdown to dent FY22 GVA growth by 0.32%: CARE Ratings")
PM Narendra Modi to soon unveil masterplan on multimodal connectivity
The bigger idea is to cut logistics cost, travel time and enhance competitiveness of domestic manufacturing
 "PM Narendra Modi to soon unveil masterplan on multimodal connectivity")
Surrender proportionate incentives to remit export claims: Expert
File the annual return for the year 2020-21 on or before April 30, 2021
 "Surrender proportionate incentives to remit export claims: Expert")