Page 1670 - Economy & Policy News
Contrasting tales: Economy is down, but markets have defied fears
In the past six months, Nifty has gained 52 per cent in rupee terms and 58 per cent in dollar value - making India one of the best-performing markets globally
 "Contrasting tales: Economy is down, but markets have defied fears")
Refiners likely to add only a fourth of targeted petrol pumps in India
This move, which came just before the polls, was pitched as a step to create over one million jobs.
 "Refiners likely to add only a fourth of targeted petrol pumps in India")
India's economy to contract 5.9 per cent in 2020, says UN trade body
India had announced a Rs 20-trillion stimulus package for vulnerable sections of society and small businesses
 "India's economy to contract 5.9 per cent in 2020, says UN trade body")
UP govt declares plans for 1,000-acre Film City, Adityanath meets industry
'All the efforts will be to make the Film City as the best Dedicated Infotainment Zone of the country,' the CM said
 "UP govt declares plans for 1,000-acre Film City, Adityanath meets industry")
Lack of uniform ICT solutions a risk for smart cities, says Trai
The regulator is of the view that lack of uniform solution can lead to proprietary issues and prevent integration for a seamless digital revolution in the urban infrastructure.
 "Lack of uniform ICT solutions a risk for smart cities, says Trai")
I-T department puts in place safeguard measures for e-assessment
Aims to address fears that the process may lead to a rise in ad hoc additions in demand
 "I-T department puts in place safeguard measures for e-assessment")
Low subsidy by MSEDCL hampering solar power in Maharashtra: Industry body
Maharashtra State Electricity Distribution Company Limited (MSEDCL) is seeking subsidy of Rs 31 crore for just 25 MW solar power which is hampering the clean energy, an industry body said
 "Low subsidy by MSEDCL hampering solar power in Maharashtra: Industry body")
Stressed funds set to make beeline for India on spike in Covid-driven NPAs
Bankers expect bad debt worth $35 bn to be up for grabs, in addition to $110 bn already in the system; Blackrock, SBI Cap, Brookfield eyeing stressed assets
 "Stressed funds set to make beeline for India on spike in Covid-driven NPAs")
World Solar Bank aims to infuse $10 bn in solar projects across ISA members
With high priority accorded to Make in India, the government shall soon launch incentive schemes to invite global companies to set up mega manufacturing plants
 "World Solar Bank aims to infuse $10 bn in solar projects across ISA members")
Majority of retailers expect festive season sales to fall by 25%: Report
The report further said 71 per cent of respondents were "considering cancelling or deferring orders due to reduced festive forecasts due to the reduction in the festive season forecasts".
 "Majority of retailers expect festive season sales to fall by 25%: Report")
RBI, govt in right direction to keep economy moving, says Axis Bank CEO
Bandhan Bank MD and CEO Chandra Shekhar Ghosh said the rural and semi-urban segments present huge opportunities for the banking industry
 "RBI, govt in right direction to keep economy moving, says Axis Bank CEO")
Over 40,900 fraudulent Aadhaar numbers cancelled up to August 31: Dhotre
A total of 40,955 fraudulent Aadhaar numbers have been cancelled up to August 31, 2020, the Rajya Sabha was informed on Tuesday.
 "Over 40,900 fraudulent Aadhaar numbers cancelled up to August 31: Dhotre")
Delhi HC asks TRAI to take action against those not complying with norms
The court noted that TRAI's counsel has shown some definitions of provisions but said they are of no use if no action is to be taken by the telecom regulator after issuance of show cause notices.
 "Delhi HC asks TRAI to take action against those not complying with norms")
India's current account to register surplus of $30 bn in FY21: Report
The deficit stood at $24.6 billion or 0.9 per cent of GDP in FY20
 "India's current account to register surplus of $30 bn in FY21: Report")
Committee looking to capture informal sector activities stuck on sample
The issue is whether the annual survey should change the sample every time as is done currently when this survey comes out after a gap of five years
 "Committee looking to capture informal sector activities stuck on sample")
India's forex reserves can be used for infra investment, say economists
As on September 18, India's foreign exchange reserves stood at $541.67 billion
 "India's forex reserves can be used for infra investment, say economists")
MSP hike for six rabi crops inadequate: Shiromani Akali Dal chief
Shiromani Akali Dal chief Sukhbir Singh Badal on Monday rejected the Centre's hike of Rs 50 per quintal in the minimum support price of wheat by the Centre.
 "MSP hike for six rabi crops inadequate: Shiromani Akali Dal chief")
Covid-19 impact: Fresh auction round likely for ONGC, Oil India blocks
It is also planning to give sops to producers by extending concessions, stretching timelines and asking the finance ministry to reduce oil cess.
 "Covid-19 impact: Fresh auction round likely for ONGC, Oil India blocks")
Step up infra investment to spur demand, revive economy: SBI chief
Says banks not risk averse, they are being prudent
 "Step up infra investment to spur demand, revive economy: SBI chief")
Market fee, rural cess on cotton, paddy variety to be reduced: Khattar
The chief minister made the announcement during a meeting held late this evening with heads of the Haryana State Grain Markets Association.
 "Market fee, rural cess on cotton, paddy variety to be reduced: Khattar")