Page 1518 - Economy & Policy News
GDP to be in growth territory in December quarter: Icra Ratings
India's GDP is set to revert to the growth territory in the October-December 2020 period compared to the year-ago period, the ratings agency said
 "GDP to be in growth territory in December quarter: Icra Ratings")
Sitharaman addresses RBI board, explains priorities of government
FM Sitharaman on Tuesday explained the government's priorities to the Reserve Bank of India's central board during their first meeting after presentation of the Budget
 "Sitharaman addresses RBI board, explains priorities of government")
Tamil Nadu announces new industrial policy, targets Rs 10 trn investments
Policy aims to raise contribution of manufacturing sector to 30% of GSDP by 2030, create two million jobs.
 "Tamil Nadu announces new industrial policy, targets Rs 10 trn investments")
India on track for economic recovery in fiscal year ending March 2022: S&P
India needs many things to be right for its recovery to continue. Most significantly, the country needs to quickly and thoroughly vaccinate most of its 1.4 billion people
 "India on track for economic recovery in fiscal year ending March 2022: S&P")
Global investors move to renewable sector as coal demand dips in India
International Energy Agency's (IEA) India energy outlook said India would need a massive investment of $1.4 trillion if it were to aim for net zero by mid 2060
 "Global investors move to renewable sector as coal demand dips in India")
India's recovery gathers pace on good agri show, falling Covid cases: S&P
India faces a permanent loss of output versus its pre-pandemic path, suggesting a long-term production deficit equivalent to about 10 per cent of GDP
 "India's recovery gathers pace on good agri show, falling Covid cases: S&P")
India's exports up 6.16% in January; trade deficit narrows $14.54 bn
Aside from the exports, the trade deficit for January 2021 was estimated at USD 14.54 billion as against the deficit of USD 15.30 billion in January 2020, which is a decrease of (-) 4.95 per cent
 "India's exports up 6.16% in January; trade deficit narrows $14.54 bn")
Indian Railways may choose BOT model for dedicated freight corridors: Rpt
The BOT model will be first implemented on a small stretch of Eastern Dedicated Freight Corridor (EDFC) between Sonnagar in Bihar and West Bengal's Dankuni
 "Indian Railways may choose BOT model for dedicated freight corridors: Rpt")
Top headlines: All Jaguars to go electric, IT sector revenue to hit $194 bn
A month into the vaccination drive, which has covered more than 8.5 million so far, the health ministry has indicated that Covid-19 vaccines are not likely to be there in the open market anytime soon
 "Top headlines: All Jaguars to go electric, IT sector revenue to hit $194 bn")
India imported over 500,000 tonnes of palm oil from Malaysia last month
Edible oil imports fell to 1.07 million tonnes last month from about 1.32 million tonnes in December, The Star reported
 "India imported over 500,000 tonnes of palm oil from Malaysia last month")
States' fiscal deficit to narrow to 4.3% of GDP in FY22: Ind-Ra
The agency's earlier forecast for FY21 was 4.5 per cent. The revision was made due to a sharper-than-expected contraction of 6.1 per cent in the nominal GDP
 "States' fiscal deficit to narrow to 4.3% of GDP in FY22: Ind-Ra")
Factory reset: Production slumps in the powerloom hub of Bhiwandi
Hit hard by volatility in yarn prices, 50% of the looms said to be operating only 3-4 days a week
 "Factory reset: Production slumps in the powerloom hub of Bhiwandi")
IT sector to grow by 2% to $194 bn, add 138,000 employees in FY21: Nasscom
Industry bucks Covid trend on the back of rapid digital transformation and tech adoption; Exports set to touch $150 bn
 "IT sector to grow by 2% to $194 bn, add 138,000 employees in FY21: Nasscom")
Premium petrol touches Rs 100 in 3 states; LPG prices hit Rs 769 a cylinder
Premium petrol touches Rs 100 in three states; LPG prices hit Rs 769 a cylinder
 "Premium petrol touches Rs 100 in 3 states; LPG prices hit Rs 769 a cylinder")
Govt to set up intelligence unit to tackle pesky calls, financial frauds
The telecom ministry will set up an intelligence unit and a consumer protection system to tackle pesky calls, financial frauds
 "Govt to set up intelligence unit to tackle pesky calls, financial frauds")
WPI inflation up 2.03% on factory goods and fuel, room for rate cut shrinks
WPI shows divergent trend from CPI counterpart, which fell to a 16-month low of 4.06%
 "WPI inflation up 2.03% on factory goods and fuel, room for rate cut shrinks")
State's fiscal deficit to rise marginally to 3.3% in FY18: Ind-Ra
Market borrowings of the states will increase to Rs 3.7 lakh cr from the Rs 3.5 lakh cr in FY17
 "State's fiscal deficit to rise marginally to 3.3% in FY18: Ind-Ra")
India considers new panel to quicken privatisation of state-run firms
An external panel will help accelerate the asset sale process and bypass red tape, according to the people.
 "India considers new panel to quicken privatisation of state-run firms")
Govt shortlists four mid-sized state-run banks for privatisation: Report
The four banks on the shortlist are Bank of Maharashtra , Bank of India, Indian Overseas Bank and the Central Bank of India
 "Govt shortlists four mid-sized state-run banks for privatisation: Report")
India's January trade deficit narrows to $14.54 bn, exports rise 6.16%
Imports also grow for second month, signifying domestic demand recovery
 "India's January trade deficit narrows to $14.54 bn, exports rise 6.16%")