Page 155 - Economy & Policy News
Petroleum product export earnings fell 13.4% to $3.3 bn in May: PPAC
Lower global crude prices reduced May petroleum export earnings to $3.3 billion even as outbound and import volumes rose and crude processing remained steady
 "Petroleum product export earnings fell 13.4% to $3.3 bn in May: PPAC")
India's largest port builder to raise ₹30,000 cr for Vadhvan project
The $9 billion port project is a major undertaking for Prime Minister Narendra Modi, who laid the port's foundation stone last year
 "India's largest port builder to raise ₹30,000 cr for Vadhvan project")
Erratic weather hurting Indian companies in biggest consumer market
A cooler-than-usual summer this year - followed by the earliest onset of rain since 2009 - has hurt companies selling everything from talcum powder to air conditioners
 "Erratic weather hurting Indian companies in biggest consumer market")
Relief for travellers: Govt announces ₹3,000 annual toll pass on NHs
From August 15, personal vehicles can hit national highways with a ₹3,000 annual pass, valid for 200 trips or one year
 "Relief for travellers: Govt announces ₹3,000 annual toll pass on NHs")
India-UK free trade pact provides predictability to business: Piyush Goyal
In their first joint public intervention since the FTA negotiations concluded last month, Reynolds said he was "genuinely excited" about the prospects opened up with the FTA
 "India-UK free trade pact provides predictability to business: Piyush Goyal")
India's fuel exports face EU sanction risk amid West Asia oil crisis
The bloc's proposal on barring imports of diesel, gasoline & jet fuel derived from Russian crude oil in refineries is of concern because it does not require US or G7's cooperation for implementation
 "India's fuel exports face EU sanction risk amid West Asia oil crisis")
India slips to 71st spot on Energy Transition Index; investment capacity up
Sweden topped the list of 118 countries, followed by Finland, Denmark, Norway and Switzerland in the top five.China was ranked 12th, the US was 17th and Pakistan at 101st place. Congo was ranked low
 "India slips to 71st spot on Energy Transition Index; investment capacity up")
Icra pegs India's GDP growth at 6.2% for FY26, down from 6.5% in FY25
Leading rating agency ICRA, in its latest outlook, said India's real GDP growth for 2025-26 will be 6.2 per cent, down from 6.5 per cent in the preceding financial year.
 "Icra pegs India's GDP growth at 6.2% for FY26, down from 6.5% in FY25")
Piyush Goyal to visit UK to push India-UK FTA towards implementation
Commerce minister's UK visit will focus on reviewing FTA negotiations, establishing a roadmap for finalisation, and expanding trade, investment, and creative partnerships
 "Piyush Goyal to visit UK to push India-UK FTA towards implementation")
Piyush Goyal in London to discuss FTA, ways to promote trade, investment
The minister is expected to interact with leading CEOs and industry stakeholders from key sectors, including shipping, fintech, logistics, and advanced manufacturing
 "Piyush Goyal in London to discuss FTA, ways to promote trade, investment")
India's 6.5% GDP growth in FY25 'creditable' amid global headwinds: CEA
Chief Economic Adviser V Anantha Nageswaran cites policy continuity, PLI success, and external resilience as key factors in India's strong 2024-25 economic performance
 "India's 6.5% GDP growth in FY25 'creditable' amid global headwinds: CEA")
Transition woes: SFBs' long bumpy road to becoming universal banks
The RBI requires SFBs to provide a detailed rationale for their desire to convert into a universal bank. Those with a diversified loan portfolio will be preferred
 "Transition woes: SFBs' long bumpy road to becoming universal banks")
Draft Income tax Bill, 2025: LLPs likely to retain LTCG benefits
Govt likely to fix key omission regarding AMT
 "Draft Income tax Bill, 2025: LLPs likely to retain LTCG benefits")
Why corporate guarantees have emerged as a new battleground in tax disputes
Before the introduction of GST in 2017, corporate guarantees between related parties were not considered taxable under the service tax regime, unless there was a direct consideration involved
 "Why corporate guarantees have emerged as a new battleground in tax disputes")
India shares discussion paper ahead of trade discussions with Peru
Next round of negotiations in July
 "India shares discussion paper ahead of trade discussions with Peru")
India needs to try become indispensable like China: CEA Nageswaran
Kerala Governor Rajendra Vishwanath Arlekar, who presided over the event, said that 'Viksit Bharat' will be a reality by 2047 as asserted by Prime Minister Narendra Modi
 "India needs to try become indispensable like China: CEA Nageswaran")
Bihar Cabinet decisions: 6 new airports, MSP for chana, pulses, and more
Airports in six districts, MSP for chana, masoor and mustard, hotel on Patliputra Ashok land, SAP contract renewal, and river replenishment study among key decisions
 "Bihar Cabinet decisions: 6 new airports, MSP for chana, pulses, and more")
Railways to build 100 MEMUs and 50 Namo Bharat trains for short trips
Railways to produce 100 MEMU and 50 Namo Bharat trains, launch cargo terminal in Manesar, and pilot advance charting to improve short-haul travel and logistics efficiency
 "Railways to build 100 MEMUs and 50 Namo Bharat trains for short trips")
India to lead global oil demand growth by 2030 on economic expansion: IEA
IEA report shows India will add 1 million barrels per day to global oil demand by 2030, driven by GDP growth, rising car use, industrial activity and clean fuel adoption
 "India to lead global oil demand growth by 2030 on economic expansion: IEA")
Vaishnaw inaugurates cargo terminal at Maruti Suzuki's Manesar site
The rail link was developed at a cost of ₹800 crore, with HRIDC contributing ₹684 crore and the remaining amount funded by Maruti Suzuki
 "Vaishnaw inaugurates cargo terminal at Maruti Suzuki's Manesar site")