Page 1544 - Economy & Policy News

RBI open to digital currency, examining the need to introduce CBDC

A CBDC is legal tender and a central bank liability in digital form denominated in a sovereign currency and appearing on the central bank's balance sheet.

Transport ministry okays green tax on vehicles over 8 years old: Gadkari

Proposal to go to states before notification; lower rate for public transport, EVs exempt

India witnesses highest growth in FDI in 2020 due to digital investments

On the other hand, fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the pandemic

Budget Byte: Imports grow after 9 months, signal consumption recovery

This daily series of graphs provides context to some of the critical issues relating to the Union Budget on February 1

Capitalise PSBs, create bad bank to absorb NPAs, says financial sector

Rating agency CARE Ratings said, given that bank credit growth would be higher in FY22 than in FY21, incremental credit would be Rs 10-11 trillion

Recovery tracker: Rail and power show some gains in first month of new year

Mobility and traffic congestion see a drop

Indian IT spend to rise 6.8%, reach $88.8 bn in Calendar 2021: Gartner

Spending fell 2.7% in 2020 with focus only on 'mission-critical' tech & services during early stages of pandemic; worldwide spending pegged at $3.9 trillion in 2021, up 6.2%

Investment in upskilling can boost global GDP by $6.5 trn by 2030: Report

Investment in upskilling could boost global GDP by $6.5 trn by 2030, including by $570 bn (over Rs 40 trn) in India alone -- the third highest after China and the US, a WEF report said

Migration from cash-based economy to digital is a work in progress: RBI

Still a long road ahead, especially across Tier III-VI) and societal cross-sections (senior citizens, migrant workers), apex bank in booklet on Payment Systems

RBI refutes reports of withdrawal of old Rs 100, Rs 10, Rs 5 notes

The Reserve Bank of India (RBI) on Monday refuted reports of withdrawal of old series of Rs 100, Rs 10 and Rs 5 currency notes.

Job losses from virus four times as bad as 2009 global financial crisis: UN

The pandemic severely disrupted the global economy

Gadkari calls for research to explore cheaper options to cement, steel

This comes amid rising steel prices in the country

Investment in upskilling can boost global GDP by $6.5 trillion by 2030: WEF

The investment can create 5.3 million new jobs by 2030, according to a World Economic Forum report

Goa govt making efforts to resume mining, says Governor Koshyari

The Goa government is making continuous efforts to resume mining in a systematic manner, Governor Bhagat Singh Koshyari said on Monday

GST shortfall: FinMin releases weekly instalment of Rs 6,000 cr to states

This takes the total amount of fund released to Rs 78,000 crore

India's corporate bond sales set to slow significantly after record year

Issuance will fall by 17 per cent to about 7.55 trillion rupees ($103.5 billion) this year, according to the median estimate of six of the nation's top debt arrangers

FDI in India rose by 13% in 2020 as inflows declined in major economies: UN

Foreign Direct Investment into India rose by 13% in 2020, boosted by interest in the digital sector, and while fund flows "declined most strongly" in major economies, the UN has said

Oxfam urges radical economic rejig in post-COVID era, warns inequality rise

Oxfam said the richest 1,000 people have already managed to recoup the losses they recorded in the early days of the pandemic because of the bounce back in stock markets

Indian Railways starts a new train between Mau and Delhi

Indian Railways on Sunday started a special train from Delhi to Mau on a proposal from former IAS officer Arvind Kumar Sharma

Govt likely to set up Pradhan Mantri health fund in upcoming Budget

Centre, states to contribute to meet higher public spending target