Page 1599 - Economy & Policy News
Guaranteed loans for stressed assets out of existing Rs 3 trn credit line
Scheme to be applicable to all 26 sectors identified by K V Kamath panel along with health sector, with past dues from Rs 50-500 crore as of 29 February, 2020
 "Guaranteed loans for stressed assets out of existing Rs 3 trn credit line")
FMCG sector to shrink 1-3% in 2020, says Nielsen in third review in a year
Headwinds such as commodity inflation outweigh positives. Downgrade comes amid positive growth reported by sector in Q3, which is expected to continue into Q4
 "FMCG sector to shrink 1-3% in 2020, says Nielsen in third review in a year")
Indian pharma has bounced back from lockdown lows. What led to turnaround?
From the lows of the lockdown, the industry has seen a robust bounceback
 "Indian pharma has bounced back from lockdown lows. What led to turnaround?")
State Bank of India expects RBI to hold interest rate, says Dinesh Khara
Khara's comment comes only days before the monetary policy committee of the Reserve Bank of India (RBI), the country's central bank, is due to meet between Dec. 2 and Dec. 4
 "State Bank of India expects RBI to hold interest rate, says Dinesh Khara")
CBI files FIR against rice export firm for over Rs 1,200 crore bank fraud
The CBI has booked Delhi-based Amira Pure Foods Pvt Ltd and its top executives including promoter Karan Chanana and Managing Director Rajesh Arora for allegedly cheating a consortium of a dozen banks
 "CBI files FIR against rice export firm for over Rs 1,200 crore bank fraud")
Chhattisgarh, Punjab to opt for centre's borrowing option on GST shortfall
This leaves Jharkhand as the odd one out
 "Chhattisgarh, Punjab to opt for centre's borrowing option on GST shortfall")
Covid-19 relief: Centre mulls extending scheme for free grains and pulses
For wheat, rice and pulses (notably chana), the central government has enough stock to ensure additional supplies for the next 3-4 months
 "Covid-19 relief: Centre mulls extending scheme for free grains and pulses")
Green energy to offer $20-bn annual business potential for 10 years: PM
India has the fourth-largest renewable energy capacity, at 136 Gw, which is estimated to rise to 220 Gw by 2022
 "Green energy to offer $20-bn annual business potential for 10 years: PM")
Govt extends emergency credit guarantee scheme to stressed sectors
The loans provided under ECLGS 2.0 will have a five-year tenor, with a 12-month moratorium on repayment of principal
 "Govt extends emergency credit guarantee scheme to stressed sectors")
Share of rural mkt grows in passenger car sales with more first time buyers
Factors that helped rural sales included a good monsoon, an excellent rabi crop and a relatively lesser spread of the Coronavirus
 "Share of rural mkt grows in passenger car sales with more first time buyers")
NSA Doval to visit Sri Lanka to participate in trilateral dialogue tomorrow
National Security Advisor Ajit Doval will arrive here for a trilateral maritime dialogue among India, Sri Lanka and the Maldives beginning on Friday, Sri Lanka's military spokesman said on Thursday.
 "NSA Doval to visit Sri Lanka to participate in trilateral dialogue tomorrow")
Gadkari asks UP govt to expedite land acquisition to develop highways
Union Minister Nitin Gadkari on Thursday asked the Uttar Pradesh government to expedite land acquisition for developing national highways, as is being done in some of the states.
 "Gadkari asks UP govt to expedite land acquisition to develop highways")
India can create $1 trn of economic value using digital tech by 2025: Kant
Niti Aayog CEO Amitabh Kant said digital infrastructure has become indispensable to the functioning of society and India can create $1 trillion of economic value using digital technology by 2025.
 "India can create $1 trn of economic value using digital tech by 2025: Kant")
Gems, jewellery industry proposal on duties under consideration: Goyal
Gems and Jewellery Export Promotion Council Chairman Colin Shah has suggested cutting import duty on gold to 4.5 per cent from 12.5 per cent, and on diamond to 2.5 per cent from 7.5 per cent
 "Gems, jewellery industry proposal on duties under consideration: Goyal")
Over 1.4 cr cashless treatments provided under Ayushman Bharat: Govt
More than 1.4 crore cashless treatments worth over Rs 17,500 crore have been provided to poor citizens under central government's Ayushman Bharat till date, Union Health Minister Harsh Vardhan said.
 "Over 1.4 cr cashless treatments provided under Ayushman Bharat: Govt")
Govt cuts import duty on crude palm oil to 27.5% effective Nov 27
The government on Thursday reduced the basic customs duty on crude palm oil to 27.5 per cent, a move that would increase availability of the commodity in the domestic market.
 "Govt cuts import duty on crude palm oil to 27.5% effective Nov 27")
India cuts import tax on crude palm oil to 27.5% as food prices rise
India imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.
 "India cuts import tax on crude palm oil to 27.5% as food prices rise")
India can beat China at low-cost manufacturing: Maruti Suzuki chairman
Maruti Suzuki India Chairman RC Bhargava called for better collaboration between government and industry
 "India can beat China at low-cost manufacturing: Maruti Suzuki chairman")
India's wearables market soars by 165% in the third quarter: IDC
The average price of true wireless stereo, commonly known as earbuds, has dropped by 48.6 per cent from last year
 "India's wearables market soars by 165% in the third quarter: IDC")
Govt plan to set up bio-gas plants will boost bamboo production: IBF
Oil Minister Dharmendra Pradhan has said that India will see an investment of Rs 2 lakh crore in setting up 5,000 plants that will produce gas from bio and crop wastes by 2023-24
 "Govt plan to set up bio-gas plants will boost bamboo production: IBF")