Page 1685 - Economy & Policy News
India invites Australia to participate in commercial coal mining
Union minister Pralhad Joshi on Friday said India has invited Australia to participate in the commercial coal mining and other strategic projects related to mines and minerals.
 "India invites Australia to participate in commercial coal mining")
Currency in circulation rises 24% as people hoard cash, shows RBI data
Total currency with the public stood at Rs 25.83 trillion as of August 28, as against Rs 23.49 trillion at the end of March 31, 2020
 "Currency in circulation rises 24% as people hoard cash, shows RBI data")
CARE Ratings projects sharper GDP contraction of 8-8.2% for FY21
CARE Ratings said the country's economy is likely to see a sharper contraction of 8-8.2 per cent in the current financial year compared to a decline of 6.4 per cent it had projected earlier
 "CARE Ratings projects sharper GDP contraction of 8-8.2% for FY21")
Railway to soon link all Northeast state capitals, Bangladesh: Goyal
Indian Railways are working on connecting capitals of all eight northeastern states and also executing a project to link up with Bangladesh's railway networks, Railways Minister Piyush Goyal said
 "Railway to soon link all Northeast state capitals, Bangladesh: Goyal")
Moody's forecasts 11.5% contraction in India's economic growth in FY21
The downward revision in India's forecast for FY21 comes on the heels of a sharp contraction in Indian economy in the April-June 2020 period
 "Moody's forecasts 11.5% contraction in India's economic growth in FY21")
India's factory output contraction eases to 10.4% in July: IIP data
Rating agency ICRA had expected a single-digit contraction in the upcoming print for the Index of Industrial Production for July 2020
 "India's factory output contraction eases to 10.4% in July: IIP data")
UP's first 'flatted factory complex' to come up in Agra for Rs 125 cr
The Rs 125 crore project will comprise 68 industrial units
 "UP's first 'flatted factory complex' to come up in Agra for Rs 125 cr")
Gujarat ranked best state in providing strong ecosystem for startups: DPIIT
Gujarat has again emerged as the best performer in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and union territories (UTs) done by DPIIT
 "Gujarat ranked best state in providing strong ecosystem for startups: DPIIT")
Southern Railway's Chennai Divn starts new service to map movement of goods
The time-tabled container services were introduced on August 20, and have been running daily between Chennai Harbour and Whitefield. Each way trip fetches a revenue of Rs 4.3 lakh
 "Southern Railway's Chennai Divn starts new service to map movement of goods")
DPIIT scrutinising 50 provisions in 11 Acts that threaten jail time
The move is aimed at decriminalising existing legislation and ensure more civil charges are brought in to replace criminal ones
 "DPIIT scrutinising 50 provisions in 11 Acts that threaten jail time")
Global ranking on economic freedom: India's position tanks to 105 from 79
India reported decreases in each of the components of economic freedom, including "regulation" and "freedom to trade internationally"
 "Global ranking on economic freedom: India's position tanks to 105 from 79")
MGNREGS funds fast drying up as demand surges amid Covid-19 pandemic
Almost 63 per cent of the increased allocation of around Rs 1.01 trillion has been spent in the first five months of 2020-21
 "MGNREGS funds fast drying up as demand surges amid Covid-19 pandemic")
Centre releases Rs 6,195 crore to 14 states as devolution of taxes
Office of Union Finance Minister Nirmala Sitharaman in a tweet said that this would provide them with additional resources during the Covid-19 crisis
 "Centre releases Rs 6,195 crore to 14 states as devolution of taxes")
Covid-19: India's fiscal response to tackle the economic crisis wanting
Till August 2020, India has spent 1.2% of its gross domestic product directly from budgetary resources
 "Covid-19: India's fiscal response to tackle the economic crisis wanting")
SC gives Centre two weeks for final proposal on loan moratorium interest
No more adjournments, says bench; next hearing Sept 28
 "SC gives Centre two weeks for final proposal on loan moratorium interest")
Nabard to disburse Rs 1.2 trillion crop loan for farmers this fiscal
In a bid to support agri sector amid Covdi-19 crisis, NABARD on Thursday said it aims to disburse Rs 1.20 trillion crop loan to farmers for meeting production expenses this fiscal
 "Nabard to disburse Rs 1.2 trillion crop loan for farmers this fiscal")
Crisil projects wider GDP contraction for FY21 at 9%, from 5% earlier
Attributes it to Covid-19 cases and lack of stimulus from govt
 "Crisil projects wider GDP contraction for FY21 at 9%, from 5% earlier")
Electricity Consumer Rights: Power Ministry publishes first draft
While the Act currently has a consumer charter, the latest draft empowers users and has introduced new supply rights for them
 "Electricity Consumer Rights: Power Ministry publishes first draft")
Employment growth rate slips to 3.5% in FY20 from 3.8% in FY19: Report
In FY20, 170,000 new jobs were added, while the net addition was 176,000 in FY19, shows a CARE Ratings report
 "Employment growth rate slips to 3.5% in FY20 from 3.8% in FY19: Report")
India's 11th city gas bidding round to be launched soon, says Pradhan
The 11th bid round is being planned around a new pipeline being constructed from Angul in Odisha to Mumbai in Maharashtra to ferry natural gas between the east and west coast
 "India's 11th city gas bidding round to be launched soon, says Pradhan")