Page 1623 - Economy & Policy News

Govt gifts Rs 1.45-trillion incentive for 10 manufacturing sectors

The government hopes that the PLI schemes would provide 200,000-300,000 direct employment over five years, according to sources in the know.

CMS Info Systems acquires ATM business of Logicash Solutions in India

Apart from ATM and cash management, CMS does maintenance and card personalisation services

Stimulus 4.0 might come before Diwali, focus on jobs and stressed sectors

Sources say after several rounds of discussion within ministries, the Centre has ruled out direct cash support

IFSCA wants GIFT City bullion exchange to open for domestic investors

In talks with RBI for being included in LRS; may ask FinMin to intervene

ICICI Bank first pvt lender to surpass Rs 2 trn in mortgage loan portfolio

The bank has witnessed the highest ever disbursement in the mortgage portfolio in October

India, China agree on a three-step process for disengagement: Report

The ninth round of military talks are likely to take place in the next few days

Cabinet expands viability gap funding by Rs 2,100 cr for social sector

VGF is given to PPP projects and has been limited to economic infra so far; some Rs 6,000 cr would be given for such initiatives as VGF till 2024-25

RBI remains net purchaser of US dollars in September, buys $8.172 bn

During the month, RBI bought USD 13.322 billion from the spot market while selling USD 5.15 billion, according to the monthly bulletin released by the central bank for November

PLI scheme to boost solar manufacturing, reduce import dependence

India has set an ambitious target of 175 GW of renewable energy capacity by 2022.

Q2 GDP to shrink 8.6%; India to enter recession for 1st time: RBI official

The pandemic-induced lockdowns had led to a steep contraction of 23.9 per cent in the GDP for the April-June quarter as compared to the same period a year ago

States' capital expenditure cut to cause GDP fall, estimates ICRA

While ICRA estimates an 11 per cent contraction in the overall GDP in FY21, it expects the contraction to narrow to 5-7 per cent in the Q3 and 1-2 per cent in Q4

Homegrown firepower: Deadly Pinaka rocket gives Army cross-border options

The Enhanced Pinaka has demonstrated twice that range and an ability to strike within 10 metres of where it is aimed

Economy can recover by Q3, a quarter earlier than expected: RBI study

With increasing demand, and contraction in exports, the trade deficit widened to $8.8 billion in October - the highest in the current fiscal year.

5% customs duty imposed on parts used in LCD, LED panels

The government recently categorised TVs as a restricted item for the purpose of imports and have now imposed the customs duty on the parts

Pending disaster on the tracks as city metros overstate ridership numbers

The pandemic has only made matters worse, and experts say some networks could become the next large bad loans for the financial sector even if commuting returns to pre-Covid levels

Govt expands Rs 1.45 trn PLI scheme to 10 key sectors, industry hails move

The scheme is in addition to the already announced Rs 51,311 crore PLI for three sectors which takes the total around Rs 2 trn

Covid-19 makes small savings the prime channel for parking individual money

Collections by small savings schemes crossed Rs 1 trillion in April-September for the first time

Cabinet approves revamped VGF scheme with outlay of Rs 8,100 crore

The earlier VGF scheme was limited to projects concerning economic infrastructure

Govt increases domestic flights' cap from 60% to 70% of pre-Covid levels

The cap on the number of domestic flights was increased from 60 per cent to 70 per cent of their pre-Covid levels on Wednesday, said Civil Aviation Minister Hardeep Singh Puri.

Govt plans fresh round of $20-billion economic stimulus this week: Report

Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and other top officials will finalise the plan on Thursday