Page 1777 - Economy & Policy News
India's services activity stayed in deep contraction in June: PMI
June was the fourth straight month the index was sub-50, the longest such stretch since a ten-month run to April 2014
 "India's services activity stayed in deep contraction in June: PMI")
Ban on China companies unlikely to hit ongoing highway contracts
The National Highways Authority of India (NHAI) will complete these contracts but will not award fresh projects to Chinese firms.
 "Ban on China companies unlikely to hit ongoing highway contracts")
Covid-19 crisis drags Indian Railways' freight traffic down 21% in Q1
Its earnings from freight also saw 31 per cent fall to Rs 22,266 crore for the April-June period.
 "Covid-19 crisis drags Indian Railways' freight traffic down 21% in Q1")
Indices reach 4-month high on Covid-19 vaccine hopes; Sensex up 429 points
Experts said the markets also cheered signs of recovery in jobs and manufacturing after the economy reopened in June after a prolonged lockdown
 "Indices reach 4-month high on Covid-19 vaccine hopes; Sensex up 429 points")
Crompton Consumer's fortunes may light up as Covid-19 lockdown eases
In Q4, the profit margin maintained a strong trajectory, improving sequentially due to cost control and a superior sales-mix
 "Crompton Consumer's fortunes may light up as Covid-19 lockdown eases")
These co-living startups are helping tenants sail through Covid-19
Firms are waiving the rent of those who have lost their jobs during the pandemic
 "These co-living startups are helping tenants sail through Covid-19")
Covid-19 crisis: States divided on alternative GST compensation mechanism
While Punjab and Kerala will press the GST Council to borrow in order to compensate states, Bihar Deputy Chief Minister Sushil Kumar Modi called the idea "wishful thinking"
 "Covid-19 crisis: States divided on alternative GST compensation mechanism")
Branding the arts on a digital stage for a post-pandemic future
Performance venues, museums, and artists don the digital greasepaint, look for new identities, patrons and business models for a post-pandemic future
 "Branding the arts on a digital stage for a post-pandemic future")
India's first private train to be on track by April 2023: Indian Railways
The Railways indicated that the plan to rope in private players came after an estimate showed that passenger traffic is expected to grow by 55 per cent from the current level by 2030
 "India's first private train to be on track by April 2023: Indian Railways")
India's trade deficit with China falls to $48.66 bn as imports decline
Exports to China in the last financial year stood at $16.6 billion, while imports aggregated at $65.26 billion
 "India's trade deficit with China falls to $48.66 bn as imports decline")
Modi, Putin discuss Covid-19 crisis, vow to boost Indo-Russia ties
The prime minister conveyed his keenness to welcome Putin in India for the bilateral summit
 "Modi, Putin discuss Covid-19 crisis, vow to boost Indo-Russia ties")
India's GDP likely to contract by 6.4% in FY21, says Care Ratings
The rating agency, in May, had projected a decline in GDP growth of 1.5-1.6 per cent in FY21.
 "India's GDP likely to contract by 6.4% in FY21, says Care Ratings")
Garib Kalyan Yojana to clear FCI's bulging stocks, but may hurt finances
FCI already had an outstanding unpaid loan of around Rs 254,000 crore from National Small Savings Fund (NSSF) as on March 31, 2020
 "Garib Kalyan Yojana to clear FCI's bulging stocks, but may hurt finances")
Covid policy response: Rural spending skyrockets, defence bears the brunt
Free provision of food, cash transfers, and jobs in villages see enhanced flow of funds despite a precipitous fall in revenue
 "Covid policy response: Rural spending skyrockets, defence bears the brunt")
From ATM withdrawals to a/c balances, banks are back to charging customers
Banks, or the government, did not notify an extension of the ATM related rules, which meant that banks can now charge their customers like before
 "From ATM withdrawals to a/c balances, banks are back to charging customers")
Not feasible to turn coaches into Covid-19 ICU wards: Railways to Bombay HC
As per the affidavit, train coaches cannot be reused for regular passenger services if major structural changes were carried out
 "Not feasible to turn coaches into Covid-19 ICU wards: Railways to Bombay HC")
India speaks to US, Canada, European & Gulf nations on air travel bubbles
The Ministry of Civil Aviation (MOCA) had on June 23 said India is considering establishing "individual bilateral bubbles" with the US, the UK, Germany and France.
 "India speaks to US, Canada, European & Gulf nations on air travel bubbles")
Tourism industry seeks govt support for survival, meets Niti Aayog CEO
The representatives also sought financial support for tour operators so that they do not close down and are able to retain their experienced staff
 "Tourism industry seeks govt support for survival, meets Niti Aayog CEO")
RBI asks banks, NBFCs to reclassify MSMEs as per revised criteria
Last month, the government notified new criteria for classification of micro, small and medium enterprises (MSMEs) on the basis of turnover and investment in plant and machinery
 "RBI asks banks, NBFCs to reclassify MSMEs as per revised criteria")
Private train operations likely by 2023, fares to be competitive: Railways
Railway Board Chairman VK Yadav said that private players in passenger train operations will mean a quantum jump in technology and coaches that run at higher speeds
 "Private train operations likely by 2023, fares to be competitive: Railways")