Page 1641 - Economy & Policy News
India's Personal Data Protection Bill may tighten compliances for Big Tech
People in the know said that officials from companies such as Google, Twitter and digital payments firm Paytm are expected to make the presentations during the last week of this month
 "India's Personal Data Protection Bill may tighten compliances for Big Tech")
Govt left with 25,000 tonnes of buffer onion stock, says Nafed's Chadha
Currently, Nafed is offloading onion buffer stock in the market to boost domestic availability and check onion prices which surpassed Rs 75 per kg in some parts of the country in the last few weeks
 "Govt left with 25,000 tonnes of buffer onion stock, says Nafed's Chadha")
Comm Min recommends import duty hike on Korean synthetic rubber for 2 yrs
Commerce ministry has recommended an increase in import duty on a Korean synthetic rubber for two years in order to guard domestic industry from significant jump in inbound shipments of the product
 "Comm Min recommends import duty hike on Korean synthetic rubber for 2 yrs")
Hoteliers urge Wine Traders Association to allow liquor supply in Mumbai
Members of the HRAWI have reported that WTA and its member distributors are insisting on an NOC (no objection certificate) from the WTA for resuming supply of the liquor stock to hotels and restaurant
 "Hoteliers urge Wine Traders Association to allow liquor supply in Mumbai")
Rate cut will depend upon moderation in inflation: RBI Guv Shaktikanta Das
The reconstituted MPC, which met from October 7 to 9, had decided to keep the benchmark lending rates unchanged in view of the hardening of retail inflation
 "Rate cut will depend upon moderation in inflation: RBI Guv Shaktikanta Das")
Policy to remain accommodative despite inflationary pressure: MPC minutes
The Reserve Bank of India left interest rates unchanged at that meeting two weeks ago, as expected.
 "Policy to remain accommodative despite inflationary pressure: MPC minutes")
NBFCs approach RBI for inclusion as beneficiaries to on-tap TLTRO
NBFCs have written to the Reserve Bank of India (RBI) to include them as beneficiaries for availing funds under on tap targeted long-term repo operations (TLTRO) scheme.
 "NBFCs approach RBI for inclusion as beneficiaries to on-tap TLTRO")
Forex reserves rise by $3.61 bn to touch life time high of $555.12 bn
In the previous week ended October 9, 2020, the reserves had increased by USD 5.867 billion to reach USD 551.505 billion
 "Forex reserves rise by $3.61 bn to touch life time high of $555.12 bn")
Jewellers bet big on Dussehra, expect 65% of total biz this festival season
Gold prices were on Friday ruling at around Rs 49,200-51,000 per 10 grams in the domestic market, while in the international market, it was at USD 1,908 an ounce.
 "Jewellers bet big on Dussehra, expect 65% of total biz this festival season")
India's new Mundra LNG terminal ramps up utilisation as demand rises
The terminal is currently connected to Anjar in southern Kutch -- which is about 40 kilometres away from Kandla port -- through a gas pipeline that has a diameter of 32-inches
 "India's new Mundra LNG terminal ramps up utilisation as demand rises")
Indian Railways receives 24 mn applications for 104,000 various posts
It said that the details of schedule of the CBTs will be uploaded on the websites of RRBs in due course
 "Indian Railways receives 24 mn applications for 104,000 various posts")
It might take years for GDP to regain lost output: RBI MPC member
The Reserve Bank of India releases minutes of the October 7-9 meeting of its monetary policy committee.
 "It might take years for GDP to regain lost output: RBI MPC member")
GeM completes work for creation of unified procurement system: CEO
GeM CEO Talleen Kumar said that a function of ''custom bid'' has also been created on the platform
 "GeM completes work for creation of unified procurement system: CEO")
Centre holds consultations with states for formulating new STIP policy
Harsh Vardhan held detailed consultations with the states for the formulation of Science Technology and Innovation Policy (STIP) 2020
 "Centre holds consultations with states for formulating new STIP policy")
India's public debt to GDP ratio may hit record high of 90% in 2020
This makes India most indebted major economy in the emerging markets after Brazil and Argentina and worse off than Bangladesh and Pakistan
 "India's public debt to GDP ratio may hit record high of 90% in 2020")
Despite Covid, Indian adults see wealth rise 0.7% in H1-20: Credit Suisse
The total household wealth in India during this period, according to their estimates, rose 1.7 per cent to $246 billion
 "Despite Covid, Indian adults see wealth rise 0.7% in H1-20: Credit Suisse")
Maharashtra Minister asks state utility to add 2,000-MW unit near Mumbai
In the aftermath of the massive power outage in the financial capital, Maharashtra energy minister asked state-run power generation firm to add gas-based capacity of up to 2,000 MW in vicinity of city
Payment system operators can't issue new proprietary QR codes, says RBI
RBI also frames guidelines for self-regulatory organisation for payment system operators
 "Payment system operators can't issue new proprietary QR codes, says RBI")
Next stimulus should focus on short-gestation infra projects: NITI Aayog VC
According to him, recovery in August and September was quite smart, and it has been witnessed across many high frequency indicators
 "Next stimulus should focus on short-gestation infra projects: NITI Aayog VC")
Govt launches new series for CPI-IW, no impact on dearness allowance
CPI-IW is used to compute DA of govt employees and industrial workers. The DA gets revised twice a year and is meant to adjust wage to the impact of inflation
 "Govt launches new series for CPI-IW, no impact on dearness allowance")