Page 1540 - Economy & Policy News

Pandemic-battered gold demand in India expected to rebound in 2021

Demand is expected to jump closer to the 690 tons bought in 2019 as the country's economy shows signs of recovery, P R Somasundaram, managing director at the council for India, said

India plans higher levy on some imported goods to boost local manufacturing

Refrigerator, washing machines, cloth dryers, aluminum and electrical goods are among products likely to see an increase in customs duty, the people said asking not to be identified citing rules

How KKR's big bet on India credit became a cautionary tale for investors

Rocked by the shadow-banking crisis in India, KKR's local credit unit lost $207 million in the final nine months of 2019, wiping out nearly 40 per cent of its capital

India's FDI inflows grew by 81% in Nov 2020 to $10.15 bn, equity at $8.5 bn

FDI is a major driver of economic growth and an important source of non-debt finance for the economic development of India

Statsguru: Informal sector plays important role in India's labour market

About 13.5 per cent of casual workers (who probably earned daily or weekly but had steady incomes) became self-employed in that period

Earnings contraction, poor returns weigh on stock valuations of PSUs

Earnings contraction, coupled with poor return on net worth (RoNW), weighs on the stock valuation of these PSUs

Firmly behind the curve: PSUs became the biggest laggards on Indian bourses

Market cap of government companies has remained unchanged in the past 8 years

India's consumption economy will be third-largest by 2030: Flipkart CEO

The estimated size of the retail commerce economy in India will be more than $1 trillion in the next 3-4 years, said Krishnamurthy

Cabinet clears policy on PSU privatisation ahead of Union Budget

The contours of the policy and the strategy to privatise PSUs will be announced by Finance Minister Nirmala Sitharaman in the Budget

Tax worries roil indices ahead of Budget; Sensex down 5% from peak

YTD returns turn negative

RuPay's market share tops 60% in total cards issued, says RBI report

As of November 2020, around 603.6-million RuPay cards have been issued by nearly 1,158 banks

Rs 1 trn announced for strengthening agri-infra, cold storage: Tomar

Narendra Singh Tomar informed that the government has set up a Rs 1 lakh crore fund under the "Aatmanirbhar package" to strengthen the crops storage infrastructure and reduce post-harvesting losses.

Raise revenues from improved tech-driven enforcement: KPMG to govt

To help resolve tax disputes, a majority of respondents feel that a mediation scheme should be introduced in the Budget to help in negotiating settlements.

India smartphone market falls 2% to nearly 145 mn units in 2020: Canalys

A report by research firm Counterpoint earlier in the day had pointed to a 4 per cent dip in smartphone shipment to over 150 million units in 2020

Discoms should be consumer-centric, bring more pvt investment: House panel

One of the suggestions by the committee was increasing private participation in power distribution by way of content-carriage separation

FDI into India increases 37% to $43.85 billion during Apri-Nov 2020

Foreign direct investment into India increased by 37 per cent during April-November 2020 period

Oil and gas companies seek pandemic relief in the upcoming Budget

The Centre had considered tax sops for exploration and production operators in May 2020

Focus on extending Covid help, invest in infra: IMF's Gita Gopinath

Says agri laws have potential to increase farmers' income

Govt plans $41 bn reform in Budget 2021 to revive ailing power discoms

The plan for carrying out reforms for reducing losses of state distribution utilities was sought by the nation's power ministry and is under discussion

20% remained without work six months after losing jobs to lockdown: study

Findings are of second round of survey by Azim Premji University; 2,778 respondents from first round were re-interviewed across 12 states to gauge the nature of economic recovery