Page 1597 - Economy & Policy News
Fiscal deficit touches 120% of full-year target as revenues plummet
Experts estimate full year's fiscal deficit between 7 per cent and 9 per cent of GDP against 3.5 per cent estimated earlier by the government
 "Fiscal deficit touches 120% of full-year target as revenues plummet")
Manufacturing GVA rises in Q2; still a long way to go for turnaround
Experts said this did not indicate that there was a turnaround in manufacturing, as it continued to contract in volume terms
 "Manufacturing GVA rises in Q2; still a long way to go for turnaround")
On the road to V-shaped economic recovery, where does India stand
While the economy performed better than expected, it has a long road ahead when compared to other countries
 "On the road to V-shaped economic recovery, where does India stand")
Apr-Sep FDI inflow climbs 15% to Rs 2.2 trillion; Mauritius was top source
Singapore was the second biggest source.
 "Apr-Sep FDI inflow climbs 15% to Rs 2.2 trillion; Mauritius was top source")
Farm sector maintains robust growth in Q2, GVA up 7.7% at current prices
Experts say many crops don't come into the market during July-Sept and the real impact of kharif harvest will be felt in the subsequent quarters
 "Farm sector maintains robust growth in Q2, GVA up 7.7% at current prices")
Speed of economic recovery a 'pleasant surprise': Niti Aayog's Rajiv Kumar
Niti Aayog Vice Chairman Rajiv Kumar on Friday termed the speed of India's economic recovery as a "pleasant surprise" and said manufacturing shows a positive growth that confirms a rebound.
 "Speed of economic recovery a 'pleasant surprise': Niti Aayog's Rajiv Kumar")
Moratorium: Forego interest on 8 categories of loans, SC tells govt
The Supreme Court Friday directed the government to ensure that all steps be taken to implement its decision to forego interest on eight specified categories of loans paid upto Rs two crore in view of the coronavirus pandemic.
 "Moratorium: Forego interest on 8 categories of loans, SC tells govt")
Credit to industry shrank 1.7%, personal loans slowed in October: RBI
Credit to large companies contracted 2.9%, but that to medium enterprises grew 16.7% YoY. Overall credit to industry had grown at 3.4% in October 2019
 "Credit to industry shrank 1.7%, personal loans slowed in October: RBI")
Core sector shrinks eighth month in row, sharper sequentially in October
Contraction due to decline in production of crude oil, natural gas, refinery products and steel
 "Core sector shrinks eighth month in row, sharper sequentially in October")
Govt intends to formalise registration process of vintage motor vehicles
The Centre on Friday said it intends to formalise the registration process of the vintage motor vehicles, and has sought public comments for proposed rules regarding this.
 "Govt intends to formalise registration process of vintage motor vehicles")
LVB now DBS Bank India; Madras HC refuses to grant stay on merger
The Madras High Court has refused to stay the merger of LVB with DBS Bank India.
 "LVB now DBS Bank India; Madras HC refuses to grant stay on merger")
RBI has set precedence in LVB bond write-off, will hurt other banks: Report
During the Yes Bank rescue earlier this year also, there was an over Rs 7,000-crore bond write-off, but that involved a different instrument called additional tier-I bonds.
 "RBI has set precedence in LVB bond write-off, will hurt other banks: Report")
India's experience with revenue-share model is not good. How to fix it?
The Centre is only just learning how to draft workable contracts with the private sector
 "India's experience with revenue-share model is not good. How to fix it?")
Domestic steel demand seen down by 10-12% in FY21: Brickwork Ratings
In Q1FY21, finished steel production crashed by 49% and consumption by 53% compared with Q1FY20 levels
 "Domestic steel demand seen down by 10-12% in FY21: Brickwork Ratings")
Foreign secretary Shringla's Nepal visit kindles hopes of traders in Bihar
Trade normalisation with Nepal is crucial to Bihar's economy
 "Foreign secretary Shringla's Nepal visit kindles hopes of traders in Bihar")
Fortified Delhi lowers guard: Farmers allowed to hold peaceful protests
After day-long clashes with police at the capital's border, farmers get a hearing on Dec 3
 "Fortified Delhi lowers guard: Farmers allowed to hold peaceful protests")
Three Facts with AKB: Now, FY21 GDP contraction is nearly certain for India
In order to avoid a negative growth in full FY21, India will need to see real GDP growth of over 15% in each of the two remaining quarters. That may not be possible in the present economic scenario
 "Three Facts with AKB: Now, FY21 GDP contraction is nearly certain for India")
India Inc expects economy to gain momentum as GDP contraction narrows
Ficci President Sangita Reddy said the GDP print has come in as a pleasant surprise
 "India Inc expects economy to gain momentum as GDP contraction narrows")
UK PM Johnson speaks with PM Modi on Covid-19 vaccines, climate change
UK Prime Minister Boris Johnson spoke with his Indian counterpart PM Modi to discuss a wide range of global and bilateral issues, including collaboration on COVID-19 vaccine, climate change, and trade
 "UK PM Johnson speaks with PM Modi on Covid-19 vaccines, climate change")
GDP estimates signal upside potential for Indian economy this fiscal: CEA
Given the uncertainty, he said, it is difficult to predict if positive territory can be hit in the third or fourth quarter of this fiscal
 "GDP estimates signal upside potential for Indian economy this fiscal: CEA")