Page 1705 - Economy & Policy News

RBI flags concerns over climate change impact on India's farm outlook

Consistent with models of climate change, the number of dry days as well as days with extremely high levels of rainfall have increased in India

Lockdown effect: India's GDP to see contraction of 25% in Q1, say analysts

Manufacturing, construction, and trade, hotels, transport and communication will be the worst-affected segments in the official set of numbers to be announced by the government on Aug 31, they said

Amount in bank fraud up 159% to Rs 1.85 trn in 2019-20: RBI annual report

28% spike in number of cases; advances account for 98% of total amount involved in frauds

Fake notes in circulation fall, but remain significant: RBI annual report

Banks detected 95.4% of fake notes in 2019-20 (April to March), while the remaining 4.6% were detected by Reserve Bank

A worrying trend: India's new economy can not be a monopoly board

Just as opening up the economy in the 1990s was a windfall for the current generation of middle-class Indians, excessive economic concentration will be a headache for the next

Manufacturing policies of govt to help firms shift base to India: ICEA

The electronics manufacturing policies of the Centre and the Uttar Pradesh government will pave the way for companies to shift their base from China to India, industry body ICEA said on Tuesday.

India to post strong GDP growth pick up in second half of 2020: Moody's

For 2021 year, Moody's has projected Indian economy to grow 6.9 per cent

Government extends deferred customs duty payment to authorised PSUs

The scheme of deferred payment of customs duties was first introduced in November 2016 for top importers, certified as Authorized Economic Operators (AEOs)

Govt plans cut in coal imports in coming years to save forex, create jobs

Coal is among the top five commodities imported by India, the world's largest consumer, importer and producer of the fuel after China

Govt to spend Rs 1.2 trn on oil, gas exploration and refineries in FY21

State-owned oil firms plan to spend Rs 1.2 trillion in the fiscal year to March 2021 on oil and gas exploration and production and refineries in a bid to boost economic activity in the nation

Management of foodgrain surplus key challenge for India: RBI report

India has now reached a stage in which surplus foodgrain management has become a major challenge, the Reserve Bank of India said in its annual report

MGNREGA monthly wages double to Rs 1,000 per person amid pandemic: Report

The rural distress following the pandemic has seen the average monthly income per person under MGNREGA doubling to around Rs 1,000 in the first 4 months from Rs 509 in FY20, according to Crisil

India's Q1FY21 GDP may shrink by 25%, says ICRA; flags distress in MSMEs

India's Q1FY21 GDP is expected to contract by 25 per cent, ratings agency ICRA said on Tuesday

Incentivising fund flow at affordable rates can rekindle investment: RBI

The Reserve Bank on Tuesday said incentivising the flow of funds at affordable rates can rekindle investment and push credit growth which had decelerated even before the Covid-19 crisis

Low demand, high construction costs may derail Gujarat's skyscraper dreams

Real estate developers too, believe such high rises, whether built for residential or commercial purposes, will have to be ultra high luxury

Reducing Covid risks may help economy more than easing curbs: World Bank

Global institution uses daily electricity consumption and night-time light intensity to gauge impact of Covid-19

Trade unions condemn proposal to privatise more airports, IRCTC stake sale

As many as 10 trade unions on Tuesday condemned the government's proposal to privatise more airports and stake sale in Indian Railways Catering and Tourism Corporation (IRCTC)

Difficult to accurately assess economic impact of Covid-19, says RBI

The Reserve Bank said it is difficult to accurately assess the economic impact of Covid-19 pandemic as the dynamics are still evolving

Govt may look at second stimulus once Covid-19 cases ebb: Expenditure Secy

The government may look at introducing a second set of fiscal stimulus measures once the Covid infections abate and the psychological fears in people's minds ebb, a top Finance Ministry official said

Govt consumption will have to fuel demand in times of Covid-19: RBI

Government consumption will have to fuel demand till the economy comes out of the Covid-19 shock and regains pre-Covid-19 momentum, the Reserve Bank's annual report said