Page 1754 - Economy & Policy News
Banks sanction about Rs 90,000 cr to 11 million Kisan Credit Card holders
As part of the Rs 20.97 trillion stimulus package, the government had announced Rs 2 trillion of concessional credit through KCC to 25 million farmers
 "Banks sanction about Rs 90,000 cr to 11 million Kisan Credit Card holders")
FAITH revises upwards forecast on tourism value at risk at up to Rs 15 trn
For the survival of the sector, a FAITH spokesperson said, "The tourism sector requires a customised sector-specific relief package, and it cannot be delayed any further"
 "FAITH revises upwards forecast on tourism value at risk at up to Rs 15 trn")
Mineral sector could be potential driver of high growth: CII to NITI Aayog
A recent study pegged the employment potential of the mining sector at over 4.8 million direct jobs by 2025
 "Mineral sector could be potential driver of high growth: CII to NITI Aayog")
Increase in AI intensity by 1 unit can lead to 2.5% increase in GDP: ICRIER
Niti Aayog CEO Amitabh Kant, while releasing the report, said India is in the midst of a once-in-a-generation disruption driven by AI
 "Increase in AI intensity by 1 unit can lead to 2.5% increase in GDP: ICRIER")
V-shaped recovery in Q3, 4; negative GDP growth in FY21 overall: N K Singh
Singh said the economic expansion in 2022-23 would determine whether or not the initiatives to revive growth are sustainable
 "V-shaped recovery in Q3, 4; negative GDP growth in FY21 overall: N K Singh")
India hands over 10 broad-gauge diesel locomotives to Bangladesh
External Affairs Minister S Jaishankar flagged off the locomotives online in the presence of Railway Minister Piyush Goyal and several dignitaries from across the border
 "India hands over 10 broad-gauge diesel locomotives to Bangladesh")
Govt issues scheme guidelines to boost drug manufacturing, medical devices
The objective is to make India self reliant in production of 53 critical Active Pharmaceutical Ingredients, and in production of medical devices, for which India is crucially dependent on imports
 "Govt issues scheme guidelines to boost drug manufacturing, medical devices")
India to post current account surplus this fiscal, first since FY04: Report
After many quarters, the economy logged in a marginal current account surplus in June quarter at 0.1 per cent or $600 million as against a deficit of $4.6 billion or 0.7 per cent of GDP in FY19
 "India to post current account surplus this fiscal, first since FY04: Report")
Make the most of emerging shifts in economy, RBI's Das to industry captains
RBI governor favours a domestic free trade in agriculture, says policies undertaken by govt should be able to encourage private investment in supply chain infra
 "Make the most of emerging shifts in economy, RBI's Das to industry captains")
Reliance Industries leverages technology to expand farm-to-fork model
The goal is a 12-hour window for vegetables and fruits to move from the fields to the shelves
 "Reliance Industries leverages technology to expand farm-to-fork model")
$6 bn capital raised by PSBS inadequate to safeguard against stress: Fitch
PSB divestment may trigger negative rating action
 "$6 bn capital raised by PSBS inadequate to safeguard against stress: Fitch")
Economic slump to deepen; India FY21 GDP can contract 6%: BofA Securities
BofA Securities expects the monetary policy committee of the RBI to slash policy rates by 100bp in FY21 as their base case
 "Economic slump to deepen; India FY21 GDP can contract 6%: BofA Securities")
State-owned banks need more capital from govt to mitigate risks: Fitch
Fitch said state banks already face significant execution risks in raising equity due to depressed stock market valuations and weak investor interest
 "State-owned banks need more capital from govt to mitigate risks: Fitch")
India's crude steel production at 6.8 MT in June, says Steel Ministry
The steel sector in India has started showing signs of improvement and in the month of June the country's crude steel production stood at 6.8 million tonne (MT), according to the Ministry of Steel
 "India's crude steel production at 6.8 MT in June, says Steel Ministry")
Unlock 3.0: FICCI calls for allowing foreign, Indian carriers to operate
FICCI said clear-cut dates should be announced by the states to open tourism, monuments, tourist attractions, hotels, restaurants and bars
 "Unlock 3.0: FICCI calls for allowing foreign, Indian carriers to operate")
New build-operate-transfer model addresses national highway traffic risk
The traffic projections would be for certain time periods starting from five, 10, 15 years, and onwards
 "New build-operate-transfer model addresses national highway traffic risk")
As Covid-19 enters hinterland, FMCG heads divided on rural revival timeline
Some CEOs circumspect, others confident recovery will last
 "As Covid-19 enters hinterland, FMCG heads divided on rural revival timeline")
Debt funds turn to safe havens for investors as defaults sting, shows data
Since the IL&FS crisis, allocation to govt papers more than doubles, exposure to NBFCs drops
 "Debt funds turn to safe havens for investors as defaults sting, shows data")
Situation not as bad as it is being made out to be: Economic affairs secy
Bajaj also said the financial services secretary was examining a plan of bank recapitalisation
 "Situation not as bad as it is being made out to be: Economic affairs secy")
Gas economy: Centre planning to change LNG pipeline pricing policy
The second of the two-part series talks about why zonal pricing may be on the way out
 "Gas economy: Centre planning to change LNG pipeline pricing policy")